Author Topic: Nirvana Memorial also go IPO ? That type of biz woh....  (Read 2236 times)

Offline Ļaughing Ģor

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Nirvana Memorial also go IPO ? That type of biz woh....
« on: December 18, 2014, 02:28:12 PM »
Nirvana CEO: Opportunity to accumulate shares



HONG KONG: Integrated death care service provider Nirvana Asia Ltd that made its debut amid weak market sentiments on the Hong Kong Exchange yesterday feels the current valuation provides an opportunity for investors to accumulate the shares.

Unperturbed by its share price performance, chief executive officer and managing director Datuk Kong Hon Kong said that the company’s fundamentals have not changed.

“We believe that this can be seen as an opportunity for investors to accumulate,” said Kong after the listing.

The counter opened at HK$2.36 (RM1.06), 21% lower than its issue price of HK$3, with more than 53 million shares done in early trade.

At market close, Nirvana’s share price was HK$2.10, bringing its market capitalisation to HK$1.4bil.

A total of 290.44 million shares were traded. Some 40% of the deal went to retail investors while the remainder 60% went to institutional investors. “We can’t control market sentiments. As long as we can perform and achieve our targets, then we are not worried,” he added.

Its listing in Hong Kong would enable easier entry into China, said Kong. It is the only Malaysian company to have a singular listing on the Hong Kong Exchange.

Nirvana issued 674.7 million shares at HK$3, the lower end of its price range of between HK$3 and HK$3.38, raising HK$2.024bil in initial public offering (IPO) proceeds.

Nirvana will be using 40% of the proceeds to acquire more land in Malaysian cities that it has not yet covered as well as in Jakarta and Bangkok.

As of June 30, 2014, its land bank stood at 2.2 million sq m.

It will also use the proceeds to expand its current capacity and acquire other funeral service providers both in Malaysia as well as in China and Indonesia.

The company has entered into a non-binding memorandum of understanding (MoU) with a land owner in Vietnam to establish a greenfield cemetery near Ho Chi Minh city.

It also has an MoU with a cemetery operator in the Guangdong province in China to develop a piece of land.

Kong said the company was still conducting due diligence on the MoUs.

Currently more than 80% of the company’s revenue comes from its Malaysian operations. However, Kong expected the overseas markets to contribute more over time.

DBS and UBS are joint sponsors of the IPO exercise while CIMB is a joint bookrunner.

Books closed on Dec 9, with the IPO oversubscribed by more than 50 times.

Taiking Life Insurance Co Ltd and ViewFinder L. P. are cornerstone investors in Nirvana, each taking up US$30mil of the deal.

Private equity firms Orchid Asia V GP Ltd and AIF Capital Asia IV GP Ltd, which invested in Nirvana ahead of its IPO, own 21.64% and 10.66% respectively post-listing.

Orchid and AIF will be subjected to a six month moratorium along with the cornerstones.

The closest benchmark to Nirvana on the Hong Kong Exchange is Fu Shou Yuan International Group, which listed last December, raising HK$1.67bil from its IPO.

For the six month period ended June 30, 2014, Nirvana recorded a revenue of US$70.6mil and net profit of US$14.9mil.

The company was previously listed on Bursa Malaysia under the name NV Multi Corp Bhd in 2000. It was privatised in 2010 by a private equity firm and Kong’s investment vehicle Rightitan Sdn Bhd. Kong now owns 42.70% of Nirvana through Rightitan.

Nirvana runs 10 cemeteries, 12 columbarium facilities as well as two funeral homes across Malaysia, Singapore and Indonesia.

According to Frost & Sullivan, in terms of contract sales, Nirvana has a market share of 56.3% and 78.5% respectively in Malaysia and Singapore. In Indonesia, it holds a 36.1% market share.
Can someone to give me a Loan and then leave me Alone?

Offline Ļaughing Ģor

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Re: Nirvana Memorial also go IPO ? That type of biz woh....
« Reply #1 on: December 18, 2014, 02:29:08 PM »
With inflation and everything..... is it logic to buy one and keep first.... since sooner or later also need to use...
Can someone to give me a Loan and then leave me Alone?

Offline king

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Re: Nirvana Memorial also go IPO ? That type of biz woh....
« Reply #2 on: December 18, 2014, 02:34:12 PM »
With inflation and everything..... is it logic to buy one and keep first.... since sooner or later also need to use...


                            WHY NOT ??

Offline ikan besar

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Re: Nirvana Memorial also go IPO ? That type of biz woh....
« Reply #3 on: December 18, 2014, 02:47:24 PM »
With inflation and everything..... is it logic to buy one and keep first.... since sooner or later also need to use...

no need , jes throw into the sea

free of charge
I heard dr kimmy lost alot of monies

Offline kittima

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Re: Nirvana Memorial also go IPO ? That type of biz woh....
« Reply #4 on: December 18, 2014, 02:49:09 PM »
Last time NV Multi in Malaysia ma......

Offline Ļaughing Ģor

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Re: Nirvana Memorial also go IPO ? That type of biz woh....
« Reply #5 on: December 18, 2014, 02:53:05 PM »

                            WHY NOT ??

If our children next time convert religion, buy a nice tomb also no use right since nobody come and sweep?
Can someone to give me a Loan and then leave me Alone?

Offline ikan besar

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Re: sulah mati why wan to spend so much $$$$$$$$$$$$$$$$$$$$$$$$$
« Reply #6 on: December 18, 2014, 03:00:00 PM »
keep for those who still alive n need the $$$$$
more than the dead

 :S :S :S :S :S :S :S :S :S :S :S :S
I heard dr kimmy lost alot of monies

Offline king

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Re: Nirvana Memorial also go IPO ? That type of biz woh....
« Reply #7 on: December 18, 2014, 05:40:24 PM »
If our children next time convert religion, buy a nice tomb also no use right since nobody come and sweep?

Treat it as investment.