StarBiz- Financial counters pull index down
- Boeing: 76-meter long 747-8 plane to make first flight Mon
- Plenty of gas, but what to do with the foul byproduct?
- Australia to end crisis measure of bank guarantees
- Geithner says US credit rating safe despite debt
- Israel on schedule to inaugurate electric car grid
- Toyota to announce action soon for Prius hybrids
- Business Times
- Bank Negara
INTERNATIONAL INDICES (updated daily)
Ftse Bursa Malays 1235.22 -1.02%
Sse Composite Ind 2935.17 +0.00%
Ishares Msci E.m. 36.83 -0.99%
DJIA 9908.39 -1.04%
Spdr Gold Shares 104.04 -0.61%
U.s. Oil Fund Et 35.09 -0.34%
Ishares Barclays 104.93 -0.15%
IGB Corporation
This is a darling on the street right now, with the likes of JP Morgan, OSK, DB, CSFB etc. etc. all rating this a buy with a target price of around $2.20. Why? Because analysts perceive that this counter is best placed to ride the consumer and property boom. Not only does it have a good property portfolio, some of them, such as the new Centrepoint offices due to be opened this month as perceived as “young assets”, i.e. assets whose revenue streams are new and can only grow (compared to something like Sungei Wang, where revenue streams are already maxed out and hence it is seen as a “mature asset”).
However, you can see from my analysis that this baby only scores a “5″. This is because my scoresheet favours revenue and profit generators – i.e. cash cows. IGB’s value, on the other hand, is largely based on its property, or assets. So I’m willing to discount the score a little bit (even though I don’t advise one’s portfolio to compose of too many companies scoring low numbers) and put this on my watchlist.
Here’s more blurb.