Went to the IPP AGM last week. Three directors present and about...

Went to the IPP AGM last week. Three directors present and about three shareholders as well. Amazing
lack of interest for a company worth $0.5 billion. There has been no press release after AGM.
Well what was discussed?
Questions were asked about the contribution from REA representative on the board and the response from CEO was positive. Also what was Property Guru up to? Response that attempts to float had not been pursued and there had been minimal progress, so conclusion was that the proposal was not viable (my interpretation)
Also discussion on competition in Thailand and Indonesia.
Competition in Thailand was basically with print media and it was mainly about reselling of existing houses, whereas the main market is in development units. IPP was concentrating on development units but also building on the reselling of existing units/houses.
Competition in Indonesia involved print vs internet. Comment from CEO was that print found it difficult with the change of mindset from print to internet. Competition on the internet involved about 6 competitors. At the moment IPP had about 40% of the paying internet market, so well under way in having the major influence in internet sales in Indonesia.
So overall, slowly building a position of dominance in south-east Asia

My comments only - DYOR

Regards

Westwind