IGB has stepped up its share buyback activity. IGB Had 5.66% in its share base in treasury as at April 2013.
Its net assets per share stood at rm2.78.
At current level (15 April 2013), investors are valuing IGB’s assets at rm900 million if one were to exclude its 51% stake in IGB REIT. The book value of IGB’s top five investment properties – hotels and offices – is already rm900 million in its 2011 annual report.
It was reported that IGB’s north and south office tower blocks at The Gardens alone worth rm763 million instead of rm280 million they are carried at in their books.
IGB’s investment in the owner and operator of Renaissance KL Hotel is rm303 million. The hotel was valued at rm710 million.
IGB’s other hotel assets include a 60% stake in Cititel Mid Valley which was carried at rm284 million as at end 2011. IGB also owns 100% of the 390 room Boulevard Hotel in Mid Valley City, the 627 room Gardens & Residences and Micasa Hotel in Jln Tun Razak, KL.
The group’s other hotels include Cititel Penang, Pangkor Island Beach Resort, Cititel Express Kota Kinabalu and Micasa Hotel Apartments in Myanmar.
Internationally, the group manages associate hotel chain St Giles that has over 1808 keys in cities. IGB’s assets also include an office building in Australia.
However one concern about the company is the possibility of it needing cash from shareholders to fund its expansion locally and abroad.
For now (April 2013), market observers prefer IGB REIT over IGB. IGB lacks clear catalyst as it transitions to its next growth phase in the longer term. Execution of overseas projects also a key downside risk for IGB.
One nearer term potential catalyst for IGB is a firm news of its hotels and offices being spurn off into another REIT.
11 comments:
Do you have a spam problem on this website;
I also am a blogger, and I was wanting to know your situation; many of us have developed some nice procedures and we are looking to trade strategies
with other folks, why not shoot me an email if interested.
Here is my web-site ... workouts to improve vertical jump
Thank you for sharing your thoughts. I truly appreciate
your efforts and I will be waiting for your further post thank you once again.
Also visit my webpage; workouts to improve vertical jump
Your style is very unique compared to other people I've read stuff from. Thanks for posting when you've got the opportunity,
Guess I will just book mark this page.
Visit my web site; vertical Jump Program reviews
Your style is very unique compared to other people
I've read stuff from. Thanks for posting when you've got the opportunity, Guess I will just book mark
this page.
my website vertical Jump Program reviews
Good day! I know this is kinda off topic but I was wondering which blog platform are you using for
this site? I'm getting fed up of Wordpress because I've had issues with hackers and I'm looking at options for another platform. I would be great if you could point me in the direction of a good platform.
Here is my website - high availability Solution
Hi, the whole thing is going perfectly here and ofcourse every one is sharing information, that's in fact fine, keep up writing.
My weblog ... workouts to improve vertical jump
Hi, the whole thing is going perfectly here and ofcourse every one is sharing information, that's in fact fine, keep up writing.
Also visit my web site - workouts to improve vertical jump
I'm extremely impressed with your writing skills and also with the layout on your weblog. Is this a paid theme or did you customize it yourself? Either way keep up the nice quality writing, it is rare to see a nice blog like this one today.
Stop by my web site: workouts For vertical
Hey there, I think your site might be having browser compatibility issues.
When I look at your website in Firefox, it looks fine but
when opening in Internet Explorer, it has some
overlapping. I just wanted to give you a quick heads up!
Other then that, very good blog!
Feel free to surf to my blog post; Workouts For Vertical Jump
With havin so much written content do you ever run into any problems of
plagorism or copyright violation? My website has a lot of unique content I've either created myself or outsourced but it seems a lot of it is popping it up all over the internet without my authorization. Do you know any ways to help prevent content from being stolen? I'd truly appreciate it.
my blog workouts to increase vertical
Thank you for the good writeup. It in reality was a amusement
account it. Glance complicated to more introduced agreeable from you!
By the way, how could we keep up a correspondence?
my webpage :: workouts for vertical
Post a Comment