What is the logic of the mother’s share will drop? In my opinion, I would see the mother’s share will increase instead. If people would like to reject, they would actually sell of their shares at this current rate.if they want to reject, they would actually sold or selling their shares at current price or ask the company to repurchase their shares. If QA go thru, Reach Energy will transforms from a SPAC to a fully operating oil and gas Exploration & Production company listed on the Main Market of Bursa Securities and Reach Energy is one of the shariah compliance company. If the QA go through there won’t be any selling pressure instead it will have buying power because people like GLC funds would actually come in and for those who voted yes in the EGM, they will not sell their shares either because they see a long term value in the company.

Reach’s existing substantial shareholder, MTD Capital has recently bought out PAG and currently they are holding 18%, and will certainly support the QA . It is with great regret to let go of this asset with prime value. So lets all support QA, we definitely will make profit out of it.

EGM in a week time, see you folks there. definitely voting yes.

Please read this research report by Maybank

https://www.maybank-keresearch.com/KimEng/servlet/PDFDownloadViaEmail?rid=42139&uid=65_89_88_80_83_65_

The company was in a very conservative value to evaluate the investment. oil prices have bottomed out, and bounced back to $ 46 a barrel. oil prices expected to be rise within next year to $ 50 a barrel, reversing the situation after 2020, it began to reach 80-90 US dollars per barrel.

Being one of the very few Shariah compliant oil & gas E&P players in the region, Reach’s existing substantial shareholder, Lembaga Tabung Haji, will most certainly support the QA since they appear to be staying on as a long term investor / supporter of Reach Energy.

The major dissenting shareholder has been neutralised today, with 117 million shares crossed at 76 sen. Another major dissenting shareholder has also given commitment to support the acquisition. QA looks like it will go through, which will result in a SPAC transforming into a pure E&P player with an exceptional asset, acquired at amazing valuations. Such a young asset with attractive reserves and huge potential to increase the reserves. With existing production levels, and capacity to increase production, the earnings and cash flow visibility for Reach is crystal clear, and the share price for Reach will reflect these robust fundamentals.

http://www.bfm.my/mw-andrew-chow-uob-kayhian-singapore-dfi-eyes-regional-expansion.html

I've read partly of the circular and analyze some of the point of this QA:

1)It's a strategic location, a major oil producing country. This QA has an extensive supportive infrastructure, near to the port. The major oil pipelines link Kazakhstan Europe, via Russia and China

2)It will have an immediate cashflow generation from producing field, with clear growth pipeline from development projects and exploration upside. The existing contracts still have at least 20 years to go from now.

3)Currently, the average production of crude oil is 3300 bbl/day as per FPE 30 June 2016. The production have been increasing from 2012-2014 since MIEH acquired Emir-oil in 2011 via Palaeontol B.V. However, in in 2015 the net production was only 3412 bbl/day due to prevailing low oil price environment. This oil field, about 80% of the crude oil produced is exported

4)Based on the RPS's valuation report, daily production will increase significantly. Reach and MIEH have decided to expand the new CPF for phase 1 and 2 to increase the capacities of oil production. Under Phase 1, O&G processing capacities will have 12,000 bbl/ day for oil and for phase 2 will have approximately 23,000 bbl/day.

5)The new CPF is expected to result in savings in the operating expenses of USD4 to USD5 per bbl, mainly from the reduction of trucking and railway costs. this will definately increase the revenue and will have lower opex.

6)Besides that, this assets is valuing only at 2P reserves of 89.4 MMboe.

7)The crude oil produced from the Emir-oil concession block is sweet and light with API gravity ranging from 36-55 degrees, I've googled online, the higher the API gravity the higher the price could be sell too and has the best commercial value.

i've came across a news article which i think you folks should read as well:
http://m.themalaymailonline.com/money/article/oil-from-us50b-kashagan-field-starts-flowing-to-export

ALMATY, Oct 14 — Kashagan, a vast oil field in the Caspian Sea, sent its first crude for export after about 16 years in development and more than US$50 billion (RM209.5 billion) of investments.

The venture loaded 26,500 metric tons of crude for export into the country’s pipelines, Kazakhstan’s Energy Ministry said in an e-mailed statement today.

Of that, 7,700 tons was sent to the Caspian Pipeline Consortium. Reaching stable production will take “some time” as commissioning work continues both offshore and onshore, the ministry said.

The project has been plagued by multiple delays and cost overruns. A 2008 budget estimate of US$38 billion jumped to US$53 billion by the end of last year as the partners replaced undersea links after sulfurous gas corroded and cracked the pipes after a brief startup in 2013.


The crude from Kashagan is reaching an already saturated market, with prices at less than half the level of three years ago. Expectations for the field’s exports even prompted Opec to flip supply predictions for next year.

“Restarting production even in this low oil price environment is good because it means beginning to see some returns on that massive investment,” Andrew Neff, Paris-based principal analyst at IHS Energy, said by e-mail.

“The real payoff will be phase two,” which has the potential to increase output to 1 million barrels a day, he said.

North Caspian Operating Co, which took over running of the field from Eni SpA in 2009, said it’s working to gradually increase production capacity to a target level of 370,000 barrels a day by the end of 2017.

UK consulting firm Wood Mackenzie Ltd forecasts only about 154,000 barrels a day from the field on average next year.

Shares in Eni rose 2.4 per cent to €13.48 (RM62.19) today at 1.31pm in Milan. The Kazakh currency advanced 0.3 per cent to 330.45 tenge per dollar in Almaty, the strongest since June.

Pipe defects

Development of the offshore deposit, initially due to come on stream more than a decade ago, was prolonged by the need to build remote islands to support drilling equipment.

Although production finally got going in September 2013, it was halted just weeks later because of the pipeline defects.

The global oil glut has seen crude prices sink to half their 2014 levels. Non-Opec supply will grow by 240,000 barrels a day next year, the Organisation of Petroleum Exporting Countries said October 12.

A month earlier it predicted a 200,000-barrel gain, and a month before that, a decline.

The ownership of Kashagan has shifted over the years. Kazakhstan has expanded its stake and currently holds 16.88 per cent; Eni, Total SA, Royal Dutch Shell Plc and Exxon Mobil Corp. each own hold 16.81 per cent.

China National Petroleum Corp. has 8.33 per cent and Japan’s Inpex Corp. has 7.56 per cent. — Bloomberg

if you do not have time to go through the circular which is over 1000 pages, at least read this article. it will give you an idea how is their profit, cash flow and assets of the QA.

The cashflow positive position also shows that the assets future capital expenditure requirement can be funded by internally generated cashflow. It would appear as if no borrowings are required to fund the field developments.

The EBITDA margins look very healthy, and can be attributed to low operating expenditure per barrel (below US$20/bbl) due to being onshore and close to well established infrastructure.

The asset is young and yet to reach its peak production. Significant production growth from 5,000 barrels of oil per day (bbl/d) in 2017 to 12,000 bbl/d in 2019, and 23,000 bbl/d in 2021.

The Independent Technical Consultant (RPS), also concludes that the internal rate of return for upside scenarios ranges between 18% to 40%.

In fact based on its net cash flow projections, it would appear quite likely that Reach would be able to pay dividends.

RPS’s estimation of the net present value of the proven reserves of the Emir Oil Concession Block reserves ranges between US$315mil (RM1.3bil) and US$412mil (1.7bil) using the discounted cash flow method of valuation and benchmarking with relevant historical transactions in Kazakhstan as an alternative method of valuation.

For 2017, RPS is projecting the Emir-Oil Concession to generate a revenue of US$69.43mil (RM291.6mil) and an earnings before interest, tax, depreciation and amortisation (EBITDA) of US$27.47mil (RM115.37mil) by 2017.

The EBITDA is projected to go to a high of US$269.6mil (RM1.13bil) in 2023 and be in a net cashflow position of US$144.06mil (RM605.05mil). The oil price assumption for 2023 is US$75.80.

RPS has used US$80 per barrel as the long-term price for crude oil after 2024.

The predicament

Reach has until Aug 14, 2017 to secure its QA. Thus, assuming a QA fails to happen for Reach by then, shareholders will get back their 77 sen next year.

At Reach’s initial public offering (IPO) price of 75 sen in August 2015, the cash value of the company after three years will be 77 sen. This is based on the account that 94.75% of its IPO proceeds are kept in a trust fund for three years.

SPACs are cash companies whereby the promoters raise funds first before finding an asset to anchor the company. The asset is called the QA and it has to be secured with shareholders’ approval within three years of listing, failing which Reach will have to return 94.75% of the money raised to its investors. Currently, the prominent yield investors are PAG Holdings Ltd with 9.05%, Credit Suisse Group AG with a 7.61% stake and M Siva Kumar with a 2.18% stake. There are other small hedge funds and individuals who are also yield investors.

Meanwhile, it is believed that shareholders such as Lembaga Tabung Haji with an 8% stake, MTD Capital Bhd with a 1.72%, MKW Jaya Sdn Bhd with a 3.54% and SMB Resources Bhd with a 1.49% are willing to vote in favour of the deal.

Yield investors are those who buy into SPACs with the intention of cashing out based on the cash value. In Reach’s case, it is about 72 sen at the moment.

They buy into the SPAC with the intention of voting down the QA and getting their monies back. That way, it is almost totally a risk-free investment for them.

From having some 4,000 shareholders a year ago, Reach’s shareholder base has now halved to some 2,000 shareholders.

The top-30 largest shareholders control 80% of the one billion voting shares.

The management team of Reach owns 20% or 255.6 million shares in the company, but these are non-voting shares, and they cannot vote during the EGM.

Reach is the fourth and largest SPAC on Bursa Malaysia today and had raised the largest amount of money at RM750mil.

EGM will be held on the 4th November.
refer to the article below if you want to have a short summary :
http://www.thestar.com.my/business/business-news/2016/10/15/goose-bump-time-for-reach-energy-md/

Company’s shareholders will vote on qualifying asset on Nov 4

THE next three weeks are perhaps going to be one of the most adrenaline-pumping and nerve-wracking times for the management of special purposes acquisition company (SPAC) Reach Energy Bhd, particularly its managing director Shahul Hamid.

Nov 4 is quite literally D-Day for Reach.

(No doubt it still has another year to complete its QA before the company will be dissolved.)

It is the day shareholders of Reach Energy will decide whether to give Shahul a chance and vote a ‘Yes’ to enable Reach to acquire its qualifying acquisition (QA).

Reach needs a 75% approval level from its shareholders for the QA to go through.

With that 75% approval, Reach will become a full fledged exploration and production (E&P) oil and gas company and leave the shreds of being a SPAC behind.

And its no easy time now for Reach, as it continues to negotiate with its yield investors and persuade them to invest in the prospects of the company as it has a cashflow generating asset in the Emir Oilfield of Kazakhstan with proven oil and gas reserves of 90 million barrels.

Reach faces almost the same predicament as former SPACs Sona Petroleum Bhd and Cliq Energy Bhd.

Both Sona and Cliq failed in their quest because yield investors clearly outnumbered those who voted ‘Yes’.

In the case of SPACs, yield investors don’t particularly care how valuable or great an asset is. All they want is their money back.

The key issue now is whether Reach’s management is able to convince a section of investors – estimated at about 20% of shareholders – to vote “yes” for its qualifying acquisition (QA), and forgo the cash value of the SPAC. This segment of shareholders are yield investors who have put money into the company based on the cash payout.

Reach is proposing to pay US$154.9mil (RM638.2mil) for a 60% stake in Palaeontol BV, which is the owner of the onshore O&G field called Emir-Oil LLP in southwestern Kazakhstan.

The vendor of the stake in Palaeontol is Hong Kong-listed MIE Holdings Corp.

MIE plans to own the remaining 40% in Palaeontol.

Emir-Oil owns the production contracts for four producing oil blocks and an O&G exploration contract that extends over 850 sq km.

Reach will have four producing oil blocks, along with two development fields and six prospects within the Emir-Oil Concession Block.

The producing fields are already in production with an established infrastructure of a gas pipeline, gas processing plant, and oil processing, oil storage and transportation facilities in place.

“Hence the acquisition is expected to immediately contribute positively to the revenue of our company,” said Reach.

Cash-generating asset

To be fair to Reach, based on the circular released to shareholders on Thursday, its asset in Kazakhstan looks good by most financial metrics. If investors actually bothered to pore through the 1,000 page circular, there were some key findings on the asset.

The asset will be generating profits and cashflow throughout the life of its 20 year concession up to 2036.

This also implies a potential for dividends in the near term.

It also has proven oil and gas reserves of 90 million barrels, with considerable upsides (possible 3P) reserves of 40 million barrels and 223 million barrels of prospective resources that could upgrade 2P reserves substantially.

Its oil price assumptions are also conservative. For example in 2017, it is projecting its cashflow and revenue based on oil price of US$40. This inches up to US$60 by 2020.

The cashflow positive position also shows that the assets future capital expenditure requirement can be funded by internally generated cashflow. It would appear as if no borrowings are required to fund the field developments.

The EBITDA margins look very healthy, and can be attributed to low operating expenditure per barrel (below US$20/bbl) due to being onshore and close to well established infrastructure.

The asset is young and yet to reach its peak production. Significant production growth from 5,000 barrels of oil per day (bbl/d) in 2017 to 12,000 bbl/d in 2019, and 23,000 bbl/d in 2021.

The Independent Technical Consultant (RPS), also concludes that the internal rate of return for upside scenarios ranges between 18% to 40%.

In fact based on its net cash flow projections, it would appear quite likely that Reach would be able to pay dividends.

RPS’s estimation of the net present value of the proven reserves of the Emir Oil Concession Block reserves ranges between US$315mil (RM1.3bil) and US$412mil (1.7bil) using the discounted cash flow method of valuation and benchmarking with relevant historical transactions in Kazakhstan as an alternative method of valuation.

folks, here is a short video from Reach:

http://www.thestartv.com/episode/reach-energys-kazakhstan-goal/?season=2016&mwrap=1

According to star paper, here is some overview of KAZAKHSTAN.


In recent years, Khazakhstan has attracted a huge number of oil majors and countries to invest in its oil and gas industry.

In July, Kazakhstan and a group of oil companies led by Chevron, approved a US$36.8bil plan to boost production at the country’s Tengiz field, a rare major investment in an industry hit by low prices and a boost to the local economy.

Chevron’s partners are state-owned energy firm, KazMunaiGas, Exxon Mobil Corp and Russia’s Lukoil.

The field, one of the world’s biggest, already accounts for more than a third of total crude output in Kazakhstan, which is the biggest former Soviet oil producer after Russia.

Under the plan, Tengiz, will increase output to 39 million tons a year (850,000 barrels per day) by 2022 from 27 million tons currently.

In 2014 Kazakhstan was the world’s 15th largest producer of oil, and this year’s investment will bring it substantially closer to the top 10.

Some 62.3 percent of Kazakhstan’s economy is accounted for by crude and refined petroleum.

As of 2014, its biggest customer was China, with the latter’s purchases accounting for roughly 25% of Kazakhstan’s oil economy.

Looks like regional growth is unfolding... shall we buy before they accomplished their projects?


KUALA LUMPUR, Sept 29 (Bernama) -- Telecommunications network service provider OCK Group Bhd expects a higher return of revenue from its regional business from 18 per cent in its financial year 2015 to 25-30 per cent next year.

Group Managing Director Sam Ooi said the group's optimism arises from its investments in Myanmar and Vietnam.

"We have delivered about 300 telecommunications (telco) towers out of 920 telco towers to Telenor Myanmar and hope to hand over the remainder by the end of this year.....


http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1287150

Read the article above! cant wait for the EGM.

http://www.thestar.com.my/business/business-news/2016/09/28/game-changer-for-reach-energy/

PETALING JAYA: A new long-term shareholder is emerging in special-purpose acquisition company (SPAC) Reach Energy Bhd, paving the way for existing yield investors to exit.

Yield investors are investors who buy into SPACs with the intention of profiting from the cash value of the company rather than investing in the business.

Currently, some 20% of Reach shareholders consist of yield investors and they are likely to be taken out with this new investor.

This means that Reach has a fighting chance of getting its 75% approval for its qualifying asset (QA) when it goes to the shareholders’ vote this November, according to sources.



The new shareholder is looking to buy a 10% to 20% stake in Reach, and is currently negotiating to buy out a big chunk of Reach’s yield investors at around 72 sen per share, added the source.

Most prominent among Reach’s yield investors are PAG Holdings Ltd, which holds 8.68%, and Siva Kumar M Jeyapalan, who holds 2.18%.

Sources said that Reach’s yield investors were willing to be bought out at around 72 sen per share. This would cost the new investor some RM150mil should it buy a 20% stake.

Reach closed Tuesday at 69.5 sen.

The emergence of this new shareholder is a game changer for Reach, as previous SPACs such as Sona Petroleum Bhd and CLIQ Energy Bhd had failed to achieve the 75% approval threshold due to the huge presence of yield investors.

“Should the new shareholder take up the entire 20% yield investor block, Reach will be entering the shareholders’ meeting with 70% of votes on its side, which more or less is a definite win for the QA to go through,” said the source.

“Even if the new shareholder takes up half of the yield investor block, Reach will be entering the shareholders’ meeting with 60% of votes, which gives it a fighting chance to get its deal through,” he added.

It is believed that shareholders like Lembaga Tabung Haji, MTD Capital Bhd, MKW Jaya Sdn Bhd and SMB Resources Bhd are willing to vote for a ‘yes’ to Reach’s deal.

From having some 4,000 shareholders a year ago, Reach’s shareholder base has now halved to some 2,000 shareholders.

The Top 30 largest shareholders control 80% of the one billion voting shares.

The management team of Reach owns 20% or 255.6 million shares in the company, but these are non-voting shares, and they cannot vote during the EGM. Reach is the fourth and largest SPAC on Bursa Malaysia today and had raised the largest amount of money at RM750mil. SPACs are cash shells that have to successfully make their QA within three years of listing, failing which they will have to return 90% of the money raised to their investors.

Sona Petroleum and CLIQ Energy had failed in their attempts to get their QA through because large yield investors such as Credit Suisse and Pacific Alliance Asia Opp Fund had voted for a ‘no’.

A big part of this problem was because the share prices of the SPACs at the time of voting were a lot lower than their cash value.

Reach has until Aug 14, 2017 to secure its QA. For its QA, Reach had in March proposed to pay US$154.9mil (RM638.2mil) for a 60% stake in Palaeontol BV, which is the owner of the onshore oil and gas (O&G) field called Emir-Oil LLP in Kazakhstan.

The vendor of the stake in Palaeontol is Hong Kong-listed MIE Holdings Corp.

MIE plans to own the remaining 40% in Palaeontol. Emir-Oil owns the production contracts of four producing oil blocks and an O&G exploration contract that extends over 850 sq km.

Public's TP of RM0.11

http://klse.i3investor.com/servlets/staticfile/287207.jsp

Good work to the management of Daya. They are steering through the current market for a comeback with the current contracts awarded that will contribute to their results:
1. Schlumberger - RM37m
2. Aspen - RM224m

Looking forward for more contracts

lets keep the positive vibe around and ignore the negative comments. All investors will do their own research, including myself. this forum is for genuine investors not for street fighters! totally agreed!

oil price is a also a life cycle, I've did some research, it will eventually goes up. as you can see now few months back was below USD30, looking at the current price, it went up already. I'm not too sure how much it will go up but it will definitely go up again.

lanka, if Kazakhstan is a terrorist country might as well we don't go to european countries like paris, Belgium, Indonesia, Thailand or even in Malaysia, It happened several times already, might as well we moved out from the country. Some of the articles you posted is in the beginning of the year. Big boys are not dumb, before they invested on it they would have done their research. o&g companies like Chevron, Shell, Exxon Mobil, CNPC are all there. do you think if they know they are making losses, would they still continue investing on it? Besides that, i do not understand why do you keep attacking people and even drag the daughter in, We are business people, we are here to talk about facts and whether could we make profit not here to badmouth about people. as previously, i've posted a article which published last week. it mentioned on how civilised the country is. How accurate the economist report is? earlier of the year, some of the economist said that oil price will goes down to USD20 , it never happened either, instead it went up significantly. i would say now we are looking at around USD 44-48. i would say it's on the high USD40?? but Reach did mentioned that even USD30 they could actually make a profit out of it.

no one will ever stop you from voting no or yes, but I'm just curious if you know all these before hand why would you buy the share at the first place.

lanka, what makes you think REACH is political liability? Reach management has 20% of the share, why would they want it to be fail? im confident that the management has chosen the right assets as previously they have options of 40 over assets. why would they invested on something they think they wouldn't have make a profit out of it? they're a group of professional team as you can look at their website.

“The Medical Health Tourism Council (MHTC) has identified Kazakhstan as a potential market where Malaysian healthcare can contribute to develop a health industry. About 1,500 Kazakh patients sought medical treatment in Malaysia last year.”

“The Malaysian Technology Development Corporation (MTDC) has been engaging technocrats and policy makers in Kazakhstan to explore ways of working together to commercialise technological advancements. Several workshops have been organised with the participation of Kazakhs and Malaysians to enhance cooperation. The Malaysian Technical Cooperation Programme (MTCP) has trained officials from Kazakhstan since 1993. Malaysia shares its experience and expertise in all fields with participants from developing countries under this programme,” he said.

He praised the work of the Kazakh government on improving its transportation and logistics systems, such as building a transportation hub in Khorgos, on the border with China, and establishing the Kazakhstan-Turkmenistan-Iran railway service that, according to Hamid, opens the country to the Far East.

The ambassador also expressed optimism about the future of Kazakhstan’s economy.

“The current downslide in oil prices is a blessing in disguise. It is the right time to consolidate and upgrade obsolete and inefficient technology with possibly less costly new high-technology alternatives. Local talents could be nurtured and local expertise developed,” he said.

Hamid outlined improving trade and business relations and reviving the Malaysia-Kazakhstan business council as immediate priorities for his term. He seeks to invite more Kazakh businesses to come to Malaysia.

“Malaysia is also booming now and there are many sectors that we can work on together. Kazakhstan is rich with natural resources and diversifies its economy,” he added.

The ambassador believes the countries can work together to develop small and medium-sized enterprises. He noted a large number of Kazakh students are studying in Malaysia and their families are coming as tourists.

“The more people-to-people contact, the more we would understand each other better, and the trend is already there,” he said.

He believes there are similarities in the way Malaysians and Kazakhs live.

“Kazakhs have large families just like us in Malaysia. We feel very comfortable, even some living with grandparents, big families especially during festive holidays like Eid al-Fitr and Ramadan,” he said.

Many Malaysians would like to visit Kazakhstan and learn about the nation’s history, he added.

“You have 500 years of civilisation, famous Islamic philosophers and great thinkers like Al Farabi, historical relics and places like Turkestan that would be of interest to many people around the world,” he said.

“Just being here for the past two years, I am amazed with the development that is going on in Astana alone, like many new buildings and the busy expo site. People in Kazakhstan work very hard and we see the country as a partner for growth, progress and ensuring a successful and peaceful world for everybody,” said Hamid.

lanka, i jut put a rough figure. oil price has been around USD40-50.
please read the article below !!!

Malaysian Envoy Optimistic about Future of Bilateral Ties, Kazakhstan’s Economy
BY KAMILA ZHUMABAYEVA in EURASIA & WORLD on 8 SEPTEMBER 2016

ASTANA – Malaysian Ambassador to Kazakhstan Dato’ Hidayat Abdul Hamid recently shared his thoughts about developing bilateral relations between the countries and improving trade and business relations as his immediate priorities in Kazakhstan.

“Malaysia and Kazakhstan share many common visions and aspirations to make the world a better place to live in, especially for future generations,” he said in an interview with The Astana Times.

Hamid noted Kazakhstan has an excellent foreign policy record and that among Islamic countries, Malaysia and Kazakhstan share an open perspective about modernity and development, tolerance among religions and peaceful coexistence with other beliefs.

Kazakhstan showed exemplary leadership to the Islamic world in aspects such as security, science and technology, economy and trade when it chaired the Organisation of Islamic Cooperation (OIC) in 2011, he added. The country hosted the World Islamic Economic Forum (WIEF) the same year and launched the Islamic Organisation for Food Security (IOFS) in 2016.

“Kazakhstan is a dynamic country and developing very fast despite the dire challenges facing the world economy,” he said. “I believe Kazakhstan will play the same role when it takes its seat as a non-permanent member of the United Nations Security Council (UNSC) in 2017-2018, the first country from central Asia to do so.”

Kazakhstan is well known for its efforts in nuclear non-proliferation, tolerance among religions and focusing on environmental concerns such as through the promotion of future energy and bio-diversity, he noted.

Bilateral ties between Malaysia and Kazakhstan have developed steadily since diplomatic relations were established in 1992.

“Our relations are on a firm footing and we have signed all the necessary documents,” he said.

He noted recent developments and high-level trips in recent months, including the visits to Kazakhstan by the Malaysian chief justice and attorney general and signing a memorandum of understanding with the Kazakh Prosecutor General.

An additional important milestone was the visit to Astana by the Malaysian Secretary General of the Ministry of Energy, Green Technology and Water (KeTTHA) and inking Malaysia’s participation in EXPO 2017.

“We are confident that the expo will be the catalyst to an energetic economic boom for Kazakhstan,” said Hamid, adding Malaysia is very enthusiastic and looking forward to participating in the exhibition.

“We support Kazakhstan in its effort to promote future energy and will showcase some of Malaysia’s experience and technological advances in this field,” he noted.

Malaysian Prime Minister Dato’ Sri Haji Mohd Najib bin Tun Haji Abdul Razak has travelled to Kazakhstan every year for the last three years on both official and private visits, said the ambassador. The leaders of both countries enjoy a close relationship, exchange calls and consult each other on matters of mutual interest.

Hamid indicated bilateral trade between the countries is far below its true potential and his nation is working hard to advance trade relations.

According to a spokesperson from the Kazakh Embassy in Malaysia, mutual trade between Kazakhstan and Malaysia stood at $76.6 million, with $76.2 million in total exports to Kazakhstan and $396,300 in imports from January-October 2015, reported therakyatpost.com.

Malaysia exported electrical and electronic products, appliances and parts, palm oil, lubricants, rubber products, clothing and furniture to Kazakhstan. Kazakhstan exported ferrous metals, surveying and measuring equipment, tools and pipefittings to Malaysia, noted the website.

The ambassador said business people from both Malaysia and Kazakhstan are cautious because of the current world economic downturn. He added Malaysians believe in the tremendous potential that both countries could work to improve.

The decision of the Kazakh government to introduce a 15-day visa-free regime for Malaysians to visit Kazakhstan has encouraged more Malaysian business people to travel to the country, according to Hamid. He expressed his hope in more Kazakh business executives coming to Malaysia, as they can visit visa free for 30 days.

REACH's asset in Kazakhstan is an onshore asset. it's close to the main port, close to China and other countries. It's a strategic location. this asset is a young life. Even big boys like Chevron also invested USD 37 billion in Kazakhstan. refer to the article above, Kazakhstan's economy is improving as well and they are well known for oil and gas. As mentioned, Reach bought this asset in a low price.if the oil prices reached 30 USD per barrel, it will still bring profit because of the low cost per barrel. Currently, the oil price is looking at around 50 USD per barrel. It means they are making profit out of it. i dont think there's any reason to vote no? Let's all vote YES! if the company is making profit, share price would go up too and there might be dividend for us investors as well. Im looking forward to the EGM.

"I am coming with a Melbourne cup horse, not a dead horse".

check this out! interview with the EDGE.
link as below:
https://drive.google.com/file/d/0Bw7q1yCL5zDacWdIVmY5Q3gxMUk/view

he said that he would give it another try not we have a better assets, who would want to put up all the hassles and wait for another round of SC's and shareholder's approval? Besides that, this assets location is very strategic. It's near to the main port, close to China, Russia and Europe. recently, the oil price has went up to the around USD50 per barrel compare to few months back which is below USD30/bbl. Oil price will definitely spike up in the future.

Lets all vote YES. watch this link:

https://www.youtube.com/watch?v=ozPu0c5Amh8

An idea what is Reach invested on the Assets of Kazakhstan and they are looking forward the EGM in the middle of October.

sc approval is out, that means EGM meeting will be held in a month time. This assets in Kazakhstan will definitely give long term value to the investor and shareholders as well. the deal was signed in a low end of oil cycle, with a compelling valuation of US$2.9 per barrel for 2P (proved and probable) reserves. all investors are looking for a long term investment. lets invest on this ! It will definitely give us a good return .reach will definitely be the successful SPAC. If we destroy REACH, we also destroy the chances of having E&P stocks in Malaysia.

Liquidation takes at least a year or even more. till now SONA's shareholders haven't get the money back yet. If the QA was disapprove, shareholders can only get it back in 2019. instead of waiting for the money back, why not vote YES? Reach has a strong management team and the assets at Kazakshtan was a strategic location and good investment. all the big boys are there investing as well. when the oil price went up, we are definitely making profit out of it and share price will go up. Reach will definitely be a winning SPAC .

The decline in the oil prices from its peak has resulted in the decline in value of oil fields. This is advantageous to a SPAC like Reach Energy Berhad who is able to acquire excellent assets at attractive valuations.
The proposed acquisition of an oil & gas field in Kazakhstan is an excellent buy once approved, with a balanced portfolio of producing assets and exploration assets.
I think Reach Energy will potentially be a winning SPAC once they successfully acquire this asset which will translate into good earnings for the company and ultimately the shareholders.

remember the ASEAN vision......

http://www.thestar.com.my/business/business-news/2016/06/17/ock-sets-up-units-in-myanmar-and-vietnam/

http://www.mmtimes.com/index.php/business/technology/17895-telenor-signs-agreement-with-malaysian-towers-company.html
http://www.dealstreetasia.com/stories/tower-constructor-ock-to-invest-243m-for-towers-in-myanmar-42249/

The growth prospects for towerco in the emerging markets

Daya's other business segments are profitable, and once the management successfully executes its turnaround plans, earnings visibility will be very clear. At this price level, it is very cheap and investors should mop it up, as once earnings starts coming in, its going to rally!!!

Daya is a company that has made some expensive mistakes, and went through some bad luck with the decline in oil price. I expect this company to turnaround to profitability either towards the second half of this year or 2017. The acquisition of Siem Daya 1 results in a significantly reduced cost structure. The cessation of the Siem Daya 2 charter with Siem Offshore stops the bleed.

This year is going to be a fantastic year for KUB. The new CEO with his management team has executed part of their strategic plans by divesting its non performing businesses and to focus efforts and resources on the core profitable ones. Give it some time. First quarter results is already good. Assuming next 3 quarters deliver same numbers, easily RM20 million!! So far no analyst covering the counter. Maybe they are waiting a little for management to prove success.

GEORGE KENT BAGS LRT 3
George Kent & MRCB JV Appointed PDP for RM9.0 billion Project

PUCHONG, 7 SEPTEMBER 2015 – GEORGE KENT (MALAYSIA) BERHAD (“GKENT” or “the Group”) and their Joint Venture (“JV”) partner Malaysian Resources Corporation Berhad (“MRCB”) received a Letter of Appointment (“LOA”) from Prasarana Malaysia Berhad ( “Prasarana”) for the role of Project Delivery Partner (“PDP”) in relation to the construction and completion of the Light Rail Transit Line Three (“LRT 3”) from Bandar Utama to Johan Setia. The scope, terms and conditions of the appointment as PDP will be subject to a definitive agreement to be executed between the JV and Prasarana.

Construction work on the 36km LRT 3 line will begin in early 2016 and is expected to be completed by Aug 31, 2020. The development cost is estimated to be RM9.0 billion , excluding the cost of land acquisition. This contract will significantly add to the Group’s current order book of specialist projects and is in line with the Group’s strategy to actively bid for current and up-coming infrastructure projects.

Commenting on the award of this Project, GKENT’s Chairman, Tan Sri Dato’ Tan Kay Hock said, “This is by far our biggest contract win which will add significantly to our bottom line .We have developed a very credible team and we look forward to working with our JV partner, MRCB to ensure that this project is delivered successfully.

OCK’S Q2FYE2015 PRESENTS A 47.7% PROFIT GROWTH
REGIONAL EXPANSION HAS CONTRIBUTED RM20.7 MILLION IN REVENUE

SHAH ALAM, 26 August 2015 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunication network solutions provider announced its second quarter results for the financial year ending 31 December 2015 (“Q2FYE2015”), with a revenue of RM70.3 million; representing a staggering 61.8% increase as compared to its corresponding quarter last year (“Q2FYE2014”).

The Group’s profit before tax (“PBT”) and profit after tax (“PAT”) of RM6.7 million and RM5.0 million, for the financial quarter under review also reported an increase of 45.8% and 47.7%, respectively.

In terms of the Group’s financial performance for its first half of FYE2015, OCK delivered revenue of RM126.4 million representing a 58.0% jump in comparison to its corresponding period for FYE2014. In line with its revenue growth, OCK’s 1HFYE2015 reported a PAT of RM9.1 million as compared to 1HFYE2014 of RM6.8 million.

The Group’s strategic regional expansion into Indonesia, Cambodia, Myanmar and China has achieved a strong revenue growth for 1HFYE2015 to RM20.7 million as compared to RM1.7 million in reported in1HFYE2014.

The Group’s telecommunication network services was the main profit growth contributor for 1HFYE2015 delivering a revenue of RM97.8 million translating to 104.2% increase as compared to 1HFYE2014.

“OCK has performed very well for the first half of our financial year. Barring any unforeseen circumstances, the Group is poised to continuously enhance our recurring income stream through our telecommunication network services and green energy and power solution segment.” commented Mr. Sam Ooi, Group Managing Director.

In light of the LTE network penetrating into the Malaysia market and with 2,600 MHz spectrum already awarded by the Malaysian Communications and Multimedia Commission (MCMC), major telecommunication companies have begun investing in upgrading the infrastructures and equipment. It is expected that these telecommunication companies will continue aggressively investing and upgrading their mobile networks to further enhance its data coverage, which is foreseen to continue for the next two to three years. Hence, OCK expects to ride on this industry growth moving forward.
In parallel to the increase of network coverage in Malaysia, OCK will also be participating in the MCMC strategy under the Malaysia Budget to build more telecommunication towers in rural areas.

In addition to OCK’s telecommunications business segment, the Group will also be focusing on the growing renewable energy sector in Malaysia. OCK will continue to participate via the Feed in Tariff (“FiT”) programme, whereby the Sustainable Energy Development Authority Malaysia (“SEDA”) will continue to release annual quotas for solar energy.

Continuing the Group’s regional expansion plans, OCK intends to increase its telecommunication business in the Association of Southeast Asian Nation (“ASEAN”) region. In preparation for the expansion, the Group has announced a renounceable rights issue of 290,488,499 Right Shares on the basis of One Rights Shares for every two existing Company shares. The shares are held together with 290,488,499 Warrants on the basis of one Warrant for every one Right Share subscribed.

TITIJAYA ENDS FY2015 ON STRONG NOTE
GROUP DELIVERS RM80.7 MILLION IN EARNINGS

PETALING JAYA, 27 AUGUST 2015 – TITIJAYA LAND BERHAD (“Titijaya” or the “Group”, “帝亿置地”), a growing property developer, today announced its full year results for the financial year ending 30 June 2015 (“FY2015”).

In respect to the Group’s financial performance for the full year, Titijaya delivered profit before tax (“PBT”) and profit after tax (“PAT”) of RM111 million and RM80.7 million respectively on the back of RM340.7 million in revenue. This represents an increase in PBT and PAT of 15% and 13% respectively compared to the previous financial year (“FY2014”).

The increase in earnings was mainly due to the contribution from the Group’s property projects, Seri Alam Industrial Park as well as the Zone Innovation Park development in Klang.

“I am pleased with our full year financial performance. We have been posting steady earnings growth since our listing and will continue to push forward with our business and growth strategies to maintain our momentum. The Group’s profitability can be sustained through the continuous sales of our development projects and our new upcoming launches,” Mr. Lim Poh Yit (“林保亿”), the Group’s Deputy Managing Director commented.

The Group’s total unbilled sales as at 30 June 2015 stood at RM731.7 million, while total sales were RM498.8 million.

As at 30 June 2015, the Group’s balance sheet remains very healthy with total equity of RM475.2 million and net cash of RM30 million.

“When we were first listed in November 2013, our total landbank GDV was RM4.2 billion. I am proud to report that as a result of our ongoing landbanking strategy, it now stands at RM6.8 billion.” continued Mr. Lim.

The Group has proposed a single-tier dividend of 9% in respect of the current financial year.

DATASONIC REPORTED PROFIT AFTER TAX
OF RM12.32 MILLION FOR Q1FY16

Datasonic Group Berhad (“Datasonic” or the “Group”) announced its first quarter results ended 30 June 2015 for its financial year ending 31 March 2016 (“Q1FY16”) with revenue of RM54.36 million in the current financial quarter ended 30 June 2015, which is 24% lower when compared to RM71.56 million in corresponding quarter of the preceding financial period mainly due to the lower quantity of MyKad delivered. The Group’s revenue of RM54.36 million was higher than RM47.91 million reported in the immediate preceding quarter ended 31 March 2015 principally due to larger quantity of consumables delivered.

The Group’s profit after tax of RM12.32 million for Q1FY16 was RM15.38 million or 55.5% lower than the corresponding quarter of the preceding financial period, but was RM5.56 million or 82.3% higher than the immediate preceding quarter ended 31 March 2015.

The unexpected change in the exchange rates will have some impact on costs. Nevertheless, the management is taking steps to minimize the impact of this, barring this and any other unforeseen circumstances, the prospects for growth are expected to be satisfactory in the financial year ended 31 March 2016.

CENSOF POSTS EARNINGS GROWTH FOR 1QFY2016



Censof Holdings Berhad (“Censof” or the “Group”) today announced its first quarter results for the financial year ending 31 March 2016 (‘Q1FY2016’), with a 7.9% increase in net earnings to RM5.4 million, from RM5.0 million in the corresponding quarter of the previous financial year (“Q1FY2015”).

The Group also posted revenue of RM34.1 million, 8.0% higher compared with the revenue of RM31.5 million posted in Q1FY2015.

The increase in revenue were mainly due to the higher contribution from the National Single Window (“NSW”) segment coming from the Group’s subsidiary, Dagang Nexchange Berhad (“DNex”). The Group’s Financial Management Solutions (“FMS”) segment also posted an increase in revenue for the quarter under review.

“We are pleased to see that our earnings are gaining positive momentum. We are continuously looking for opportunities to replenish our orderbook, and we are also looking at ways in which we can re-balance our portfolio between public and private sector contracts.” commented Mr. Ameer Shaik Mydin, Managing Director of Censof Holdings Berhad.

The Group’s current outstanding orderbook stands at RM38.2 million, excluding the contribution from DNex. In addition to the Group’s outstanding orderbook, it also receives annual maintenance fees from existing clients of approximately RM16 million per annum.

The Group has recently announced a proposed acquisition of a 51% stake in Asian Business Software Solutions Sdn Bhd (“ABSS”) for a total of S$10 million.

“ABSS will contribute positively towards the Group’s earnings and expand our business presence as a Group. ABSS has established significant presence in the South Asia region for the MYOB branded accounting software and Censof will be able to leverage on this presence to expand our footprint for our other products.” continued Mr Ameer.

Dear Editor,

Please find the attached bursa link for your kind perusal.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1906009With



PRESS RELEASE
FOR IMMEDIATE RELEASE


CREST BUILDER AWARDED RM198 MILLION CONSTRUCTION CONTRACT BY UDA HOLDINGS BERHAD


PETALING JAYA, 18 MARCH 2015 – Crest Builder Holdings Berhad (“CBHB” or the “Group”) announced today that it has been awarded a construction contract by UDA Holdings Berhad with a contract sum of RM197.8 million. The contract is for the construction of Super-Structure works of a 30 storey service apartments with 1 level podium and 8 levels of car park located at Seksyen 41, Jalan Sultan Ismail, Kuala Lumpur. (‘the Contract’)

The duration of the Contract will span thirty months from the date of site possession, which has been set out as the 25 March 2015. The works stated within the Contract is expected to be completed by 24 September 2017.

“We will continue with our plans in tendering for multiple construction jobs and we are confident that we will be able maintain a healthy construction order book moving forward.” commented Mr. Eric Yong, Executive Director of CBHB

The Contract is expected to start contributing positively to the Groups earnings for the financial year ending 31 December 2015 and onwards.



About Crest Builder Holdings Berhad
CBHB was incorporated in Malaysia under the Companies Act, 1965 on 9th March 2002 as a public limited company. CBHB is principally an investment holding company and had successfully undertaken a Corporate and Debt Restructuring Scheme which involved taking over the listing status of MGR Corporation Berhad. CBHB was listed on the Main Board of Bursa Malaysia on 12th June 2003.
The CBHB Group was founded in 1985 by Mr. Yong Soon Chow. What started out as a small timer of less than 10 staff has grown to a strong corporation of over 500 staff. Over the past 25 years, the CBHB group has carved a strong foothold in the local construction industry. With an in-depth industry experience, the CBHB group has a proven track record in the sector - especially in the commercial, residential and institutional building construction. The Group counts top branded developers and international property players amongst its clientele.
With an good blend of experience and vibrant protégés in its management team, the CBHB group has moved along the supply chain and diversified beyond purely construction into other construction-related activities, such as property development, M&E services and project management - and most recently, upon completion of our RM300million maiden development 3 Two Square, the Group has also diversified into property management as well as car park management.
With the vision to be the 'Preferred' organisation of choice by the partners and customers, the Group aspires to achieve distinction in the industry through prudent cost management, highest standards of quality and complete customer satisfaction.
For more information, please log on to http://www.crestbuilder.com.my/

Dear Editor,

Please find the attached bursa link for your kind perusal.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1906009With



PRESS RELEASE
FOR IMMEDIATE RELEASE


CREST BUILDER AWARDED RM198 MILLION CONSTRUCTION CONTRACT BY UDA HOLDINGS BERHAD


PETALING JAYA, 18 MARCH 2015 – Crest Builder Holdings Berhad (“CBHB” or the “Group”) announced today that it has been awarded a construction contract by UDA Holdings Berhad with a contract sum of RM197.8 million. The contract is for the construction of Super-Structure works of a 30 storey service apartments with 1 level podium and 8 levels of car park located at Seksyen 41, Jalan Sultan Ismail, Kuala Lumpur. (‘the Contract’)

The duration of the Contract will span thirty months from the date of site possession, which has been set out as the 25 March 2015. The works stated within the Contract is expected to be completed by 24 September 2017.

“We will continue with our plans in tendering for multiple construction jobs and we are confident that we will be able maintain a healthy construction order book moving forward.” commented Mr. Eric Yong, Executive Director of CBHB

The Contract is expected to start contributing positively to the Groups earnings for the financial year ending 31 December 2015 and onwards.



About Crest Builder Holdings Berhad
CBHB was incorporated in Malaysia under the Companies Act, 1965 on 9th March 2002 as a public limited company. CBHB is principally an investment holding company and had successfully undertaken a Corporate and Debt Restructuring Scheme which involved taking over the listing status of MGR Corporation Berhad. CBHB was listed on the Main Board of Bursa Malaysia on 12th June 2003.
The CBHB Group was founded in 1985 by Mr. Yong Soon Chow. What started out as a small timer of less than 10 staff has grown to a strong corporation of over 500 staff. Over the past 25 years, the CBHB group has carved a strong foothold in the local construction industry. With an in-depth industry experience, the CBHB group has a proven track record in the sector - especially in the commercial, residential and institutional building construction. The Group counts top branded developers and international property players amongst its clientele.
With an good blend of experience and vibrant protégés in its management team, the CBHB group has moved along the supply chain and diversified beyond purely construction into other construction-related activities, such as property development, M&E services and project management - and most recently, upon completion of our RM300million maiden development 3 Two Square, the Group has also diversified into property management as well as car park management.
With the vision to be the 'Preferred' organisation of choice by the partners and customers, the Group aspires to achieve distinction in the industry through prudent cost management, highest standards of quality and complete customer satisfaction.
For more information, please log on to http://www.crestbuilder.com.my/

KANGER REPORTS RM7 MILLION PAT FOR FYE2014

KUALA LUMPUR, 26 FEBRUARY 2015 – Kanger International Berhad (“Kanger” or the “Group”), a global integrated bamboo product manufacturer and supplier has announced its fourth quarter results for its financial year ended 31 December 2014 (“Q4FYE14”) with revenue of RM19.68 million, representing an increase of 17.52% as compared to RM16.74 million in its corresponding quarter ended 31 December 2013 (“Q4FYE13”). The Group also delivered a profit before tax (“PBT”) and profit after tax (“PAT”) of RM1.82 million and RM1.92 million respectively.

In terms of the Group’s segmental performance, Kanger’s horizontal and vertical bamboo flooring segment remains as the Group’s key profit contributor with revenue of RM10.55 million, representing 53.61% of its total revenue for the quarter under review. The Group’s strand woven bamboo products and strand woven bamboo flooring segments recorded revenue of RM4.83 million and RM4.30 million respectively.

In terms of the Group’s full year financial performance for its financial year ended 31 December 2014 (“FYE2014”), Kanger reported revenue of RM66.72 million, representing an increase of 32.96% as compared to FYE2013. The growth in revenue was largely contributed by an increase in foreign sales amounting to a total of RM44.65 million for FYE2014. The Group’s PAT of RM7.02 million also represented a 41.48% increase compared to RM4.96 million reported for FYE2013.

Kanger has been delivering a steady revenue growth over the last two years with a 2-years compounded annual growth rate (CAGR) of 31.55%. The Group’s net gearing ratio as at 31 December 2014 stands at 0.1 times.

“The management and I remain optimistic for the future of bamboo flooring market in China as it is expected to grow to RMB5.04 billion (RM2.88 billion) by 2017. So, we are looking to further leverage on this industry potential moving forward,” commented Mr. Leng Xingmin, Group Managing Director.

On 2 January 2014, Kanger entered into a conditional subscription agreement with Advance Opportunities Fund and Advance Capital Partners Pte. Ltd. for the proposed issuance of Redeemable Convertible Notes (“RCN”). The proposed RCN will involve the issuance of an aggregate principal amount of up to RM100 million RCN in four (4) tranches with multiple sub-trances in each tranche. The proposed RCN will mature on a date falling five (5) years from the closing date of the first sub-tranche for the first tranche. The proceeds raised from the proposed RCN will be used to fund the expansion of dealerships, acquisition of land and construction of a commercial building pursuant to the Group’s proposed diversification into property investment and management.

As at 5 February 2015, Kanger has also submitted an application to Bursa Malaysia Securities Berhad for the admission of the Warrants to the Official List of the ACE Market of Bursa Malaysia Securities Berhad and the listing of and quotation for the Warrants and new Kanger Shares arising therefrom.

OCK REGIONAL EXPANSION INCREASES EARNINGS

PUCHONG, 26 FEBRUARY 2015 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider reported its fourth quarter results for the financial year ended 31 December 2014 (“Q4FYE2014”) with a revenue of RM59.5 million, translating to a 28.9% increase in comparison to its corresponding quarter for the financial year ended 31 December 2013 (“Q4FYE2013”).

The Group delivered a profit before tax (“PBT”) and profit after tax (“PAT”) of RM10.3 million and RM7.4 million, representing an earnings increase of 39.9% and 53.0% respectively as compared to Q4FYE2013.

Looking at the Group’s twelve months performance for the financial year ended 31 December 2014 (“FYE2014”); OCK continues to deliver an escalating topline performance with revenue of RM187.5 million, representing a 23.3% increase compared to FYE2013. Concurrent to its revenue, OCK also reports a PBT and PAT of RM23.8 million and RM17.9 million respective. Over a five-year period, the Group has generated a compound annual growth rate (“CAGR”) of 32.5%.

For the current financial year under review, OCK’s core business, telecommunication network services remains to be the core profit contributor with revenue of RM129.4 million, representing a 50.9% increase compared to FYE2013. The Group’s higher revenue from the telecommunication network services was partly contributed by its expanded regional business in Indonesia, Cambodia, Myanmar and China with a total revenue of RM16.9 million.

The Group’s green energy and power solution saw a dip in revenue to RM35.6 million due to the completion of the engineering, procurement, and construction of 10MWp photovoltaic electric installation in Sepang during first quarter 2014.

“Since our establishment, we have been focusing on strengthening and growing our business in Malaysia and now we are very happy to see that our regional expansion are beginning to bare fruits. We are very excited in continuing working with our regional business expansion activities as well as the strong industry prospects looming in Malaysia.” commented Mr. Sam Ooi, Group Managing Director.

As at 3 December 2014, The Group presents a healthy balance sheet with a total equity of RM185.6 million and available cash and cash equivalent of RM74.7 million, which places OCK in a favourable position to seize any lucrative opportunities that may arise.

CORPORATE HIGHLIGHTS

26 June 2014 Completed a 20% private placement in two tranche of 28,490,000 shares each raising RM74.07 million

12 November 2014 Acquired 85% of Putra Mulia Telecommunications in Indonesia

20 November 2014 Successfully transferred and listed on to the Main Market of Bursa Malaysia Securities Berhad

26 November 2014 Issuance of 176,053,636 bonus shares on a basis of 1 bonus share for every 2 existing OCK shares held

5 January 2015 Appointment of new Group CEO, Dr. Yap Wai Khee

29 January 2015 Established a new subsidiary named MIN-OCK Infrastructure Pte. Ltd. in view of OCK’s regional expansion plans to Myanmar.

“The management notes that we will be working heavily in executing our strategic growth plans moving forward both domestically and regional. Hence, the recent appointment of Dr Yap as our Group CEO is a prerequisite to solidify the Group’s internal structure in support of our expansion activities. I’m confident that we have the right people in place now and we are optimistic with our performance for the year ahead.” Mr. Ooi further added.

GEORGE KENT DELIVERS STEADY EARNINGS GROWTH FOR Q3FY2015

PUCHONG, 15 DECEMBER 2014 – GEORGE KENT (MALAYSIA) BERHAD (“GKENT” or “the Group”) today announced its 3rd quarter results for the financial year ending 31 January 2015 (“Q3FYE2015”) with total revenue of RM96.0 million, up 33.6% from RM71.8 million for the corresponding quarter last year (“Q3FYE2014”).

The Group reported a profit before tax (“PBT”) and profit after tax (“PAT”) of RM10.5 million and RM7.2 million respectively. These improved earnings are 23.6% and 18.6% higher respectively versus the preceding quarter (“Q2FYE2015”).

For its cumulative 3 quarters of FYE2015, the Group reported cumulative revenue of RM235.9 million. Higher revenue of Meters was achieved by the Manufacturing and Trading Division, contributed by new contracts secured in Vietnam and Singapore. Higher Construction revenue was mainly contributed by the Ampang LRT Line Extension project. As a result, the Group reported a higher PBT of RM27.7 million and PAT of RM19.87 million, an improvement of 3.5% and 11.7% respectively compared to the corresponding period in FYE2014.

The Manufacturing and Trading and the Construction divisions make up 30.5% and 64.2% respectively of the Group’s revenue for the cumulative 3 quarters.

On 29 October 2014, the Group announced it had received a Letter of Award (“LOA”) from the Ministry of Health (“MOH”) to design and build Phase II of the Kuala Lipis Hospital for a contract sum of RM57 million (“Lipis II”). The project, due for completion in April 2017 is in line with the Group’s long-term strategy to actively bid for current and up-coming infrastructure and engineering related projects.

Commenting on the Group’s financial results, its Chairman, Tan Sri Dato’ Tan Kay Hock said, “We are pleased with the Group’s financial performance despite a challenging and increasingly competitively market. Our team is dedicated to find ways to drive efficiency in all operating segments. We will continue to enhance our specialised engineering capabilities in order to maintain our edge and seize the many opportunities available in the construction and engineering sector. I am confident that the expertise we have will enable us to win lucrative contracts and drive earnings.”




Dividends

The Directors have declared a second interim single-tier dividend of 1.2 sen per share amounting to RM3.605 million for the financial year ending 31 January 2015, payable on 26 January 2015. The first interim single-tier dividend of 2.0 sen per share amounting to RM6.008 million was paid on 31 October 2014. Both these interim dividends were paid/payable based on the enlarged share capital of 300,410,168 shares of 50 sen each, arising from the recent bonus share issue of 1 for 3. In Ringgit terms, the total interim dividend of RM9.613 million in respect of FYE2015 is 42 % higher as compared to the total interim dividend of RM6.760 million for FYE2014.

“George Kent is constantly growing and committed to improve on our past successes. This has been made possible by the unwavering support of our shareholders, and the dedication of our team.” concluded Tan Sri Tan.

_________________________________________________________________________________

About George Kent (Malaysia) Berhad

George Kent is an established engineering company with core businesses focused on the water industry and the delivery of specialised infrastructure projects. For the past 78 years, we have provided a broad range of water metering solutions for households, industrial and plant use. Known for our agility and engineering excellence, we have a proven track record of successfully completing high value projects in the water and other infrastructure sectors. George Kent also undertakes technology-critical projects in the healthcare and rail transportation sectors and is currently carrying out the Ampang LRT Line Extension works. We are the trusted partner to our stakeholders, delivering quality and excellence locally and across the region.

WEIDA (M) BERHAD ANNOUNCED Q2FYE2015
Plans New Property Development In Cheras

PETALING JAYA, 28 NOVEMBER 2014 – WEIDA (M) BERHAD (“Weida” or the “Group”) announced its second quarter results for the financial year ending 31 March 2015 (“Q2FYE2015”) posting a revenue of RM71.1 million. The Group’s profit before tax (“PBT”) grew by 154% to RM3.3 million for Q2FYE2015 as compared to RM1.3 million recorded for the corresponding quarter last financial year (“Q2FYE2014”).

The Group’s profit after tax (“PAT”) amount to RM2.5 million for Q2FYE2015, representing a growth of 588% compared to Q2FYE2014.

The Group’s first half (“1HFYE2015”) cumulative revenue, PBT and PAT amount to RM140.3 million, RM9.4 million and RM6.9 million respectively. The Group saw increased revenue contribution from its new property development segment which amount to RM14.1 million. However the Group’s manufacturing, works, and others segments contributed lower revenues of RM92.3 million, RM24.6 million and RM9.4million respectively compared to corresponding 1HFYE2014. As a result, the Group achieved a lower PAT of RM6.9 million as compared to RM10.2 million achieved in the corresponding 1HFYE2014.

The Group’s balance sheet remains healthy with total equity standing at RM361.1 million and a cash balance of RM233.9 million. The Group increased its q-o-q net cash position by 5% to RM113.0 million. This net cash position enables the Group to accumulate strategic land banks for further development and to take advantage of any lucrative opportunity that arises.

The Group recently paid out its first and final single-tier exempted dividend of 3.0 sen per ordinary share on the 21 November 2014.

Prospects

Looking forward, the Group foresees strong growth in the manufacturing sector spurred by the Tenth Malaysia Plan (10th MP) particularly in areas of water supply, sanitation facilities, housing and general infrastructure developments. The Group expects to be a major beneficiary leveraging on its vast array of relevant products and manufacturing expertise.


On its property development business, the Group is currently in its final preparations to launch Ardena Mont’ Kiara, a high end condominium at Mont’ Kiara, with an estimated Gross Development Value (“GDV”) of RM330 million. More recently, the Group has entered a joint venture to develop two parcels of lands located in Cheras. Measuring 11.45 acres, the lands are located in a matured neighbourhood and are well serviced by Jalan Cheras, Middle Ring Road 2 and an upcoming MRT Station within walking distance.

“We are very excited about the recent joint venture as it will enable us to showcase our abilities on a much larger scale. That being said, we will continue to look into acquiring more land banks for future developments. We will not lose sight of our direction to achieve a balanced and sustainable growth in all other business sectors within the Group.” commented Dato’ Lee Choon Chin, Group Managing Director.


For more information about the Group please go to http://www.weida.com.my/website/



About Weida (M) Berhad
Weida (M) Bhd is an investment holding company. Through its subsidiaries, the Company is involved in property development, manufacturing of polyethylene-based building materials, construction of telecommunication infrastructure, environmental and building works as well as the provision of environmental engineering services.