No, lot 8911 was at RM 24/sq ft like the previous acquisition but lot 8907 at cost of RM 8/sq ft. Why the difference?

SarjanPendek, looks like your prediction that the news of the 50 acres land acquisition will not be announced this month. Share price could not break the 18.5 sen mark. What is your comment Sarjan?

Totally agree with Truly.

Ambank valuation of rm 1.33 assumes continue loss of POS postal services. Which is unrealistic because it will be unfair to POS if a significant tariff adjustment is not allowed but yet they are obliged to honour the USO.

Following are the future scenario of POS
(a) because POS, under the USO legislation, is obliged to deliver to all addresses new and old, it is close to impossible for the government to not raise the tariffs to either RM 1 from 60sen or accept the cost plus basis. It is likely that RM 1 will be the solution. With this hike, POS can suffer a decline of 20% snail mail volume and still not suffer a loss (b) POS's courier service is growing. Vs last year Q2 it grew 10% (c) POS provides logistics biz to PROTON cars, so this segment will grow bcoz there is a waiting period of 2 to 2 months for PROTON cars now (d) now that international rates will be raised it will be fairer to POS

, http://www.theedgemarkets.com/article/govt-proceed-bandar-malaysia?type=malaysia

Lukesharewalker you are right

Agree with you roger3210

if you buy today it will go down 1sen tomorrow again. Syndicates want to trap you and will not allow you to make money trading. So stay away until after budget
27/09/2019 9:48 AM

Another 1 sen down today, that is, the same daily trend since the share was at 82sen last week

Another 1 sen down today

Pushing the share down 1sen at a time

Could the continuous drop in price is because the price fixing date for private placement is due soon?

TQ for your correction limen12

Ekovest have time and again said it is not DIRECTLY involved in Bandar Malaysia, please read past Ekovest news. The more likely scenario is Ekovest subsidiary such as IWCity being awarded. Whether it is direct or indirect, I believe Ekovest will benefit. Even without Bandar Malaysia, Ekovest should still be able to improve from current earning level for the next 3 quarters and RM 6 billion jobs tendered. When SPE is open current DUKE highway to be connected to SPE will enjoy higher traffic volume.

Ekovest coming 3 quarters should be better than the last quarters for the following reasons.

1. Construction - based on the edge news in Nov 2018, there was still about RM 1.9 billion work of SPE to be completed by March 2020. As at June 2019 about RM 520 billion (my own estimate) have been recognised in the 2 quarters construction revenue, which means to say RM 1.4 billion of revenue is left for the next 3 quarters or an average of RM 400 million/quarter compared with last 2 quarters of RM 260 million. At 32% it means margins will increase by RM 44 million/quarter. Note that this does not include River of Life.

2. Property segment in the last quarter recognised a LAD charge of around RM 10 million (my own estimate) , a charge that should not be repeated im the next 3 quarters

3. Toll traffic should continue to increase by 5 to 10% per quarter thus narrowing its loss further.

4. Bonus?? - Bandar Malaysia although is IWCity's has not been cancelled which should give Ekovest a lift too. Ekovest tender book of RM 6 billion - a success rate of at least 20% possible?

5.,Malaysia's economy needs urgent boost and the rakyat is currently feeling very down hence I will not be surprised if the governmenr expedite infrastructure projects as all economists will tell you, construction and infrastructure provide the best multiplier effect to the economy.

So let us not let the haze affect the factually support better financial performance of Ekovest.

Price continues to drop today because of IDSS actions.

All countries that have high interest rates will have to reduce soon because the Western world are moving towards negative interest rates. According to reports there is already USD 25 trillion of bonds on negative interest rates. In Denmark you can go on a negative interest rate mortgage. Meaning that your instalment sum will keep reducing as the loan tenure gets closer to expiry!!!

That is why Australia's interest rates have come down and the Australian central banks will be reducing it further. Just two days ago, Bank Negara has said a 50 basis point reduction is on the card.

Hence this development will be great for companies with high loans such as most oil & gas, construction, property and plantation companies.

Furthermore, as return from bank deposits start to decline, savers are mostly likely to move money into bursa..

If you read DRB's CEOs briefing, one would realise that DRB is trying to focus more on automotive biz instead of being so widely diversified. hence they are divesting, alam flora, hospitality biz etc. Money from these divestments will be used to further expand PROTON 4S network, new plant in Pakistan and mount an effective expansion into ASEAN market.

Future evidence that PROTON have made tremendous headways of late are (a) Perodua latest promotion that suggests that PROTON is making a significant dent on their market share (b) more than 200 units SAGA booking per day todate and sustained volume of Pesona and Iriz volumes as well. When X70 assembly starts in Malaysia, I suspect, PROTON will then export it to ASEAN as well. If PROTON achieves 10K units a month, then real mone will start to roll into investors pocket.

DRB recurring profit is expected to improve further as it is unlikely that government will not adjust stamp tariffs upwards given that POS, have to shoulder the USB responsibility. Nobody wants to discharge this responsibility at a loss and everyone knows that this loss will grow bigger as snail mails volume are expected decline further moving forward.

My guess is the hike will be at least 100% because POS is in the midst of modernising its operations and if you look at their yearly capex level for last few years you will notice that current annual operating cashflows is insufficient and current cash level will run out in 2 to 3 years.

No problem

First of all, one cannot compare the profit for this quarter with last quarter because, last quarter's result was boosted by the property division that had recognised RM 175 million revenue that delivered RM 134 million profit or 76% margin !! One can see that this is an unrealistic profit level and is unlikely to be repeated.

In fact, we should be comforted that Proton's revival has confirmed that DRB has finally turned around.

Further good news is as follows:-

(a) there is a total of RM 1.4 billion of armoured vehicles (44 units) that has to be delivered by end of this year. Which means to say next 2 quarters will see at least a RM 700 m revenue per quarter compared with only RM 355 m this quarter; (https://www.theedgemarkets.com/article/drbhicom-gains-traction)

(b) If POS is successful in getting an increase in tariff, from current RM 0.60/stamp to RM 1.00/stamp which is the lowest increase since 1957, and assuming that mail volume continues to drop by 10%, POS in 2019, its profit will increase by RM 30 million per quarter, which is enough to offset RM 15 million loss suffered in the latest quarter. Note that the last tariff adjustment was almost 10 years ago; POS delivered 655 million mails in 2018

(c) Composites Technology Research Malaysia Sdn Bhd (CTRM), has an order book of RM8.3 billion, which should be a good buffer; CTRM is involved in the aerospace and composite industries; (https://www.theedgemarkets.com/article/drbhicom-gains-traction)

(d) There is a book gain of RM 849 million from the sale of RM 1.9 billion land in Johor that is supposed to be completed this year.
(https://www.thestar.com.my/business/business-news/2018/03/09/drbhicom-to-buy-land-in-rm19bil-deal)

Lastly, the Automotive division contributes 65% of revenue and 74% margins to DRB and it is the division that is growing, so DRB is indeed on the right track.

Bursa or DRB website after 530pm today

Perodua, in panic mode and hence they have just launched a new sales campaign to prevent proton saga from eating up their market share..

http://www.theedgemarkets.com/article/proton-continues-outperform-research-houses?type=malaysia

Report shd be out this evening

Let the deal be scuttled so that Chapter 11 bankruptcy proceedings activated instead of subjecting Empire Resort to long drawn investigation and possible class suits. We know law suits in the US can be very messy. Other benefits is GenMsia will not have to get involved and share price can go up!!!!

Haha

If 15sen dividend only RM 900m

Will Genting Malaysia declare a huge dividend this month to help Kien Huat after announcing its results next week?

One more factor favoring DRB, depreciation of yuan, thus making X70 and parts from Chima much cheaper!!!!!

MBMR up more than 20% in 2 days. Hope DRB will too

We shd expext at least 10000 units of car sales in august!!!

After this qtr results next qtr will still be fantastic. As at now July and Aug car sales hv exceeded April and May 2019.!!!!

DRB owns abt 55% of POS so bcoz POS loss reduced by abt RM 125m, it means that DRB share of improvement is RM 66m. So if DRB profits, excluding POS, stays at Q1 level. It means DRB Q2 profit shd be RM 127m + RM 66m or RM 193m!!!.

DRB is definitely not a PE 10 company, a PE 20 status is more appropriate..

One shd use RM 200 m profit attributable to shareholders, which is double last quarter's result, to value DRB for now, which means DRB is worth at least RM 4 at PE of 10. RM 200 m is just RM 70m away. Which means DRB needs to sell 5,000 extra cars every month compared with Q1. With the new saga and x50.. This is very achievable.

I have not included export to ASEAN and Pakistan and Middle East yet.

Coming Quarter will be another loss. Very hard for them to show profit for 3 reasons. (a) MFRS 16 accounting standard that required operating leases to be captured as liabilities which as a result is a higher expense charge to the Income Statement and (b) higher fuel costs compared with the previous quarter (c) lower load factor.

Having said this, recognising gain from Asset Held For Sale, could be the only factor that can turn a loss into a profit. How much gain is from the sale of about RM 700 million of these assets, we still do not know.

Gtrade, here is the link https://focusgn.com/monticello-raceway-set-close

RM 30 million extra tax to help Malaysia is a small price for GenM

GenM shd declare a special dividend to provide LKT the funds to rescue Empire Resorts. And pledge his shares to bank to secure more loans. Anyway, GenM has bottomed out. There will be a huge upside for GenM if (a) Empire Resort deal is called off (b) write back of impairment (c) opening of Fox theme park. GenM is still the best casino in South East Asia bcoz of its weather, theme park & scenery compared with Loas and Cambodia

Everything points to a good quarter to be announced end of Aug, unless there are surprises from Property and Aviation side. Hope not

AAX is unlikely to do well this coming quarter

However, with the on going sales of assets,( Total assets held for sale is ard RM 900 million) maybe a small dividend for the first time, which may explain Tony's statement early this year that AAX will have the best year in 2019?

Ncm88 betul

Do remember that as proton sell more and more cars, more recurring service and spare parts income in future for proton

Information about the future of Empire and how it would impact Genting Malaysia have yet to be provided in sufficient detail; so at this juncture we still don't have a clue.

Anyway, the purchase of Empire is still at a proposal stage only; due diligence etc still have to be done. At some point in the future shareholders of Genting Malaysia or Bursa would want proper financial justification for the purchase to ensure that the management have discharge their fiduciary duties as required by law

Price Paid Is Not Very Much Cheaper
-----------------------------------
Actually Genting Malaysia will be paying only a small discount to the initial price KH paid because 2018 losses of USD 155 million.

So Genting Malaysia should be paying not more than USD 392 million less (USD 155 million x 0.84) ie USD 261 million value comparable.

Furthermore, the price did not taken into account 2019 losses which is likely to be around USD 155 million.

Sports Betting with Bet365
--------------------------
Contribution from sports betting will take awhile because there is a USD 12 million annual licence fee plus all takings will have to off-set Bet365 start-up costs. Only after that will Empire have a 50:50 share with Bet365.

New York only allows physical sports betting not online sports betting. Meaning those who bet must be at Catskills resorts.

Plan to shut Monticello Casino & Raceway
----------------------------------------
Empire plans to close its Monticello Casino & Raceway as they are currently cannibalising on Catskills. So if this plan is executed this year. You can expect further write-offs in 2019 that will impact Genting Malaysia's H2 2019 results.

Savings in interest
-------------------
The only upside for 2019, is they will save a chunk of interest expenses (latest quarter interest is USD 17 million incurred and through net savings & savings in depreciation of closure of Monticello Casino & Raceway.


Revenue must rise quickly
-------------------------
Revenue now is at USD 60 million per quarter and loss before interest is at around USD 20 million. Of the USD 60 million revenue only gaming is making significant money, ie for USD 45 million gaming revenue, they make about USD 11 million margins.

So if we are to eliminate the loss of USD 20 million, Empire will need either to improve gaming margins, current at a high of 25% compared with 15% last year or they have to increase gaming revenue by USD 100 million every quarter.
16/08/2019 10:01 PM

Dear boostmy,

Price Paid Is Not Very Much Cheaper
-----------------------------------
Actually Genting Malaysia will be paying only a small discount to the initial price KH paid because 2018 losses of USD 155 million.

So Genting Malaysia should be paying not more than USD 392 million less (USD 155 million x 0.84) ie USD 261 million value comparable.

Furthermore, the price did not taken into account 2019 losses which is likely to be around USD 155 million.

Sports Betting with Bet365
--------------------------
Contribution from sports betting will take awhile because there is a USD 12 million annual licence fee plus all takings will have to off-set Bet365 start-up costs. Only after that will Empire have a 50:50 share with Bet365.

New York only allows physical sports betting not online sports betting. Meaning those who bet must be at Catskills resorts.

Plan to shut Monticello Casino & Raceway
----------------------------------------
Empire plans to close its Monticello Casino & Raceway as they are currently cannibalising on Catskills. So if this plan is executed this year. You can expect further write-offs in 2019 that will impact Genting Malaysia's H2 2019 results.

Savings in interest
-------------------
The only upside for 2019, is they will save a chunk of interest expenses (latest quarter interest is USD 17 million incurred and through net savings & savings in depreciation of closure of Monticello Casino & Raceway.


Revenue must rise quickly
-------------------------
Revenue now is at USD 60 million per quarter and loss before interest is at around USD 20 million. Of the USD 60 million revenue only gaming is making significant money, ie for USD 45 million gaming revenue, they make about USD 11 million margins.

So if we are to eliminate the loss of USD 20 million, Empire will need either to improve gaming margins, current at a high of 25% compared with 15% last year or they have to increase gaming revenue by USD 100 million every quarter.

Q2 results shd be good for the following reasons. 1. Volume of Q2 abt 40% higher than last year and abt 9K units more than Q1 2019 if my memory serves me right 2. About RM 130 million POS Malaysia impairment in Q1 will not be repeated 3. Becoz more cars delivered POS will earn more delivery revenue 4. Bank Muamalat shd enjoy more vehicle financing since more cars sold.
Moving forward will also be exciting.. 1. July as reported 4K of saga sold in 2 weeks. Dont forget there are still 5k order of X70 to be delivered in July and August based on monthly average of 3K per month. 2. Revision of tariffs for POS. POS collaboration with Chinese logistics company 3. Saga sales will continue to be stromg bcoz it is difficult foe Perodua to beat Proton bcoz it takes time to refit their MYVI BeZZa with the state of the art features and match the super cheap car prices of Saga. 4. X50 will be the killer.. So the only way for DRB this year is UP...

Guys I know all of us are feeling down bcoz share price don't seem to stop declining. But what i know for sure is the minimum revenue this year 2017will be at least RM 194 million based on the amount in the Balance Sheet as at 31dec last year under item "Amount due from customers" which showed an amount of worked done invoices have not been issued to customers (not billed yet ) of RM 194million. Which means it will be billed in 2017! So stay cool.

Ring, they are referring to sdn bhd companies onlynot public listed companies, so vivocom is not in the list