IOI Properties

IOI Properties

Postby winston » Sat Nov 01, 2014 9:39 pm

not vested

IOI Prop to gain from MRT2 BY SHAREN KAUR

IOI Properties Group Bhd (IOIPG) may emerge as the key beneficiary for the mass rapid transit Sungai Buloh-Serdang-Putrajaya line (MRT2), given that it has 200ha of landbank in Putrajaya, that houses IOI Resort City.

IOI Resort City comprises IOI City Mall, One and Two IOI Square, Putrajaya Marriott Hotel & Spa and Palm Garden Hotel. Under construction is IOI Resort hotel.

RHB Research said with the latest green light from the government to go ahead with the MRT2 project, IOIPG emerges as the key beneficiary.

Based on information provided by Gamuda Bhd, MRT2 will run from the Sungai Buloh depot to Putrajaya, and the proposed stops include Kepong, Sentul, KLCC, Cheras Sentral, Serdang, Uniten and Precinct 14 Putrajaya.

“IOIPG’s IOI City Mall will likely be a valuable asset. With this MRT line, the GDV for its landbank in Putrajaya will likely rise further,” RHB Research said in a note yesterday.

The research house is maintaining its “buy” rating on IOIPG, with a target price at RM3.38, at a 30 per cent discount to its revalued net asset valuation (RNAV).

The IOI City Mall, with a Net Lettable Area (NLA) of 1.4 million sq ft, will have its soft opening this month.

About 90 per cent of the retail space has been leased and key anchor tenants include Parkson, Tesco Premium, HomePro and Index Living by Aeon.

“Our checks reveal that Phase 2 of the mall, which will be constructed at a later stage, will have a NLA of 900,000 sq ft. Phase 2 will be at a close proximity to Universiti Tenaga Nasional (Uniten) and the proposed Uniten MRT station could potentially be located there.

“If this materialises, the IOI City Mall will likely see long-term value appreciation, which would spur IOIPG’s RNAV re-rating.

“We expect the future GDV (currently at RM3.1 billion) of the remaining Putrajaya land to expand, given the boost from this latest infrastructure development,” RHB said.

Source: NST
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Re: IOI Properties

Postby winston » Sat Dec 06, 2014 7:03 am

IOI Properties Group buying 37% stake in Taipei 101 owner for RM2.74b By: JOSEPH CHIN

KUALA LUMPUR: IOI Properties Group Bhd (IOIPG) has sprung a surprise with the proposed purchase of a 37.17% stake in Taipei Financial Center Corp, which owns Taipei 101, for RM2.74bil.

http://www.thestar.com.my/Business/Busi ... ?style=biz
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Re: IOI Properties

Postby winston » Sat Oct 15, 2016 12:36 pm

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IOI Properties’ unbilled sales as of May 2016 stood at RM1.5bil, representing about one time FY15 property development revenue.

For the financial quarter ended June 30, 2016, IOI Properties registered increase in both revenue and operating profit mainly from property development, property investment and leisure and hospitality.

As of June 30, the group has total assets worth RM22.81mil, up 24% from last years’ RM18.44mil. Its cash reserves stood at RM2.09mil, with a net gearing of 14%.

It saw a fair value gain on investment properties of RM145.4mil and one-off gain of RM71.1mil from bargain purchase for acquisition of subsidiaries.

Source: The Star
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Re: IOI Properties

Postby winston » Thu Mar 11, 2021 9:08 am

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On stock selection, we like IOIPG (HLIB BUY- RM1.77 TP) as a large-cap property recovery proxy and its ability to sustain strong net margins of 20-30%, thanks to its exposure to a strong China property market and management's cost control.

Moreover, the availability of Covid-19 vaccines in Malaysia will improve the company’s recovery prospects in all its business segments.

Valuation is undemanding at 0.4x P/B (vs 10Y average of 0.5x) despite generating consistent earnings during the ongoing pandemic.

Technically, IOIPG’s recent bullish downtrend line breakout (from 30M high of RM1.77 on 10 Dec 2020) could potentially kick start a new upswing soon towards RM1.47-1.52-1.65 zones.

Key supports are situated at RM1.34-1.30. Cut loss at RM1.29.

Source: HLIB
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Re: IOI Properties

Postby behappyalways » Sun Nov 05, 2023 1:38 pm

Lee Yeow Seng of Malaysia's IOI Properties Group to buy Shenton House for $538 mil
https://www.theedgesingapore.com/news/p ... se-538-mil
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