This morning I brought my family to SetiaWalk.We went to Setia-mall for a cartoon movie(Dorothy's return). It is at Puchong, near IOI-Mall ... and developed by SPSetia. Impressive ... with rows of F&B outlets. We were spoilt with choice ...
I was looking for BadBoy Cooks ... but it was covered behind Sector7. So, I went to Taipei-Taipei, instead.
Then I saw this one ... PADI ... thought it has something to do with diving ... nice environment.
Ok ... as we all knew, Liew left SPSetia ... and sold his stake around RM3.90 to PNB. Then, he formed Ecoworld. That is old story ... where Focal at 60cents, unknown then became a RM5 Ecoworld today.
Recently I sold off all my stake in Ecoworld at RM5.05 ... yeah, the un-lucky number BLACK 505. If you do not know PADI is related to diving, that is OK. But if you cant get why I sold at 505 .. hmm ... what else can I say?
I am a shareholder of SPSetia. It has been a good debate on SP vs Eco. I will choose SP, anytime. But, as traders ... we need to go with the 'hot' stocks where many retailers inside it, for some operators to push it up and down. News released ... after halt-trading. Multiple cooperate exercises and it dived from RM5.80 to RM4.80, lost more than RM1.
Anyway ... back to SPSetia. What is next without Liew and his whole gang? SPSetia is not build in a year. How do we value Ecoworld and keep mentioning it as second SPSetia? It is far from that tho they are very aggressive now. We shall see how Ecoworld is doing ... but for me, it is way ahead of its valuation.
While many do not like SPSetia now, once a darling in property-sector ... I started to like it very much. We do need more clarity from PNB on what they are going to do next. Investors do not like uncertainties. Are they going to inject I&P as some analysts suggesting? Will there be a new boss? Who? Are they selling assets? Will they be able to deliver as promised with Liew as boss? Are they acquiring land? etc etc ...
I will buy more if SP going below RM2.80 again.
Disclaimer : This is not a buy-sell calls. Consult those know-how.