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.
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