Among jobs taken......see who are the clients......

* Astro Malaysia
Malaysia’s premiere satellite TV and Radio provider
* Radio Television Malaysia
Malaysia’s national TV station
* Malaysia Science Centre
Kuala Lumpur
* Securities Commission Malaysia
Kuala Lumpur
* Putrajaya International Convention Center
Putrajaya
* Malaysia External Trade Development Corporation (MATRADE)
Kuala Lumpur
* Malaysia National Mosque
Kuala Lumpur
* Malaysia Heart Institute
Kuala Lumpur
* Tropicana Medical Centre
One Of The Latest, Modern & Exclusive Private Hospital In Malaysia
Selangor
* Hospital University Kebangsaan Malaysia
Kuala Lumpur
* Malaysia Multimedia University
Cyberjaya & Malacca
* University Tenaga National (UNITEN)
Bangi
* Hospital Selayang Selangor
Kuala Lumpur
* Sunway Medical Centre Bandar Sunway
Petaling Jaya
* Technology Park Malaysia Bukit Jalil
Kuala Lumpur
* Shah Alam Sessions Court
Shah Alam
* Perak State Mosque
Perak
* Pahang State Mosque
Pahang
* Arkib Negara
Kuala Lumpur
* Memorial Tunku Abdul Rahman
Kuala Lumpur
* Public Service Department Of Malaysia (JPA)
Putrajaya.
* Hospital Serdang
Selangor
* Hospital Sungai Buloh
Selangor


Good , isn't it!!

The migration from analogue to digital television transmission has everyone excited over who will be given the coveted government contract, estimated to be worth RM2 billion.
ACE market-listed Digistar Corp Bhd is one of those companies that are looking to be involved in the project once the government announced the contract.

Digistar director Tan Sri Zaman Khan expressed hope that the government would give preference to local and homegrown companies
with the experience, expertise and know-how.

“The government needs to do more to nurture local companies
to become world-class companies. For example, TATA Group of
India, which started off as a truck company, has expanded
to become the country’s top IT company with the support of
the Indian government,” he said in an interview with Business Times, recently.

Currently, the market talk is that tycoon Tan Sri Syed Mokhtar Albukhary, through his privately held entity Puncak Semangat Sdn Bhd, had been promised the job by the government.

It is also learnt that Puncak Semangat had gone on a recruitment drive to hire engineers by teaming up with local universities to
train talent.

Digistar managing director Datuk Lee Wah Chong said the company was preparing for the conversion project, in the event that it was able to land a part of the contract.

“We very much would like to supply for that job and we are talking with several companies. It would also help Digistar’s future earnings if it was involved in the project.”

Lee said the company was also in the midst of starting a subsidiary in Singapore early next year to bid for similar jobs in the region.

"All TV stations will have to switch to the digital system by 2015 as no equipment for the analogue system will be produced any more," he added.

Digistar is involved in, among others, the design, supply, installation and integration of IT infrastructure; teleconferencing; interactive media management systems; radio and television news automation; telecommunications systems; and other related electronic systems.

Lee also spoke on the problem of brain drain in Malaysia, saying it was slowing eating into the productivity of local companies, including Digistar.

"The government should provide more support to small- and medium-sized enterprises (SMEs). The growth of SMEs will help reduce and reverse the brain drain.

"In Japan and Taiwan for example, local SMEs get more projects and contracts compared with foreign companies," he said.

Digistar Corp Bhd’s order book has surpassed RM60mil, which will keep the company busy for the next two years. In a statement, the company said it was actively participating in tenders for RM119mil worth of projects and it had over RM13mil cash in hand to date.

“The board of directors has been working innovatively and aggressively to pursue recurring revenues for the last few years and managed to increase its monthly recurring revenue to about RM500,000,” it said. Digistar and its subsidiaries are involved in supplying, installing and integrating information technology infrastructure across a wide spectrum, including local area
networks, interactive media management systems and integrated audio and visual systems.

Digista got lots of orders including orders from Astro.Digista is a good company, solidly sound & a potential market too as the government want to transfer from analogue to digital for RTM....think of the amount of money involve.

Disgista is just 3 days in the 1st board, let the dust settle first we we may see it shooting North....cheers.

Time for me to collect some Digista & it's son.Price is almost at it's low and so it's collection time. So far this year there had not been any shares buyback and can say that the 2nd half of 2012 might begin with a bang....let's hope for the best for this money making counter starting the 1st day of trading for 2nd half of 2012.

Cheers.

FGV listing marred by ‘missing’ shares

Friday, 29 June 2012 17:00

KUALA LUMPUR: The euphoric debut of Felda Global Ventures Holdings Bhd (FGV) on Bursa Malaysia was marred by claims of some investors not having their allotment deposited into their Central Depository System (CDS) accounts.

FGV, the country’s most talked about listing, jumped 18.46% to RM5.39, an 84 sen premium to its reference price of RM4.55 at the opening bell. Subsequently, prices retrea-ted and ended the day at RM5.30, which is still a healthy 16.48% premium or 75 sen above its listing price with 261.58 million shares traded.

However, some investors claimed their shares were not credited to the CDS accounts. The affected investors were entirely those who applied for shares as eligible bumiputera investors from the Ministry of International Trade and Industry (Miti).

A broker said the number of affected investors could not be ascertained. But an investor who called The Edge Financial Daily to complain about the shares not being in his CDS account claimed that the numbers were quite big. According to FGV’s prospectus, Miti was allocated 419.54 million shares or 11.5% of the 2.19 billion shares offered under the IPO to be distributed to approved bumiputera investors.

“We paid money for those shares and wanted to sell when the price was right but were told by the brokers that the shares were not credited to the CDS account. We may have lost an opportunity to sell... this is a breach of contract,” a disgruntled investor said.

Brokers say that due to the overwhelming response from investors for FGV shares, brokers, banks and Miti may have been unable to credit the CDS accounts in time, resulting in some of those successful applicants not having their shares in their accounts.“Many people applied for the shares. Probably Miti had not got such a good response for a long time and may be overwhelmed,” said a broker.

Both CIMB Bank Bhd, which is the joint principal adviser and underwriter, and Bursa Malaysia declined to comment. On FGV, group chairman Tan Sri Isa Samad told reporters it is still negotiating terms for its strategic partnership with commodities giant Louis Dreyfus.

“We are still in negotiations with Louis Dreyfus as a strategic partner and other possible partners. We can’t just have one partner in this business. We will announce any strategic alliances accordingly,” he said. Group president Datuk Sabri Ahmad added that the group was trying to come up with a “win-win” partnership with Louis Dreyfus.

Sabri said he was quite positive that the group, despite lower first quarter earnings, would be able to prosper as long as the price of crude palm oil remained above RM3,000. “A big chunk of our profit came from plantations last year, more than 80% gross profit. “We will remain an agri business with a speciality in oleochemicals. We must grow the downstream business to protect the upstream business,” he said.

The group plans to enter Africa via Cameroon in the next three years. Sabri said the main aim is to implement the successful social engineering programme pioneered by Felda, with a focus on enriching farmers’ lives.

While most analysts were pleased with the performance of the stock yesterday — saying it was in line with expectations and is sustainable — other analysts believe that FGV’s performance would rely heavily on how fast it turns around its downstream operations.

“If they manage to turn around by this financial year, then they will be better off. If not, they will be worse off than other plantation companies,” said a plantation analyst with a non-bank backed research house. Nontheless, the possible inclusion of the group into the FBM KLCI would create renewed interest, said an analyst with Alliance Research.

The company’s downstream milling and refining operations, housed under 49%-owned associate, Felda Holdings Bhd (FHB), could see slightly better volume growth given that about two-thirds of the FFB processed are purchased from Felda settlers and other parties. Nevertheless, this is a volume-based business with low margins.The refinery business in particular has been tough amid intense pricing competition from Indonesian refiners following changes to the country’s tax structure.
Meanwhile, earnings growth from the sugar business, housed under 51%-owned MSM Malaysia Holdings Bhd, is also expected to be very modest, in line with the low single digit forecast growth for sugar consumption in the country. While sugar demand is expected to be fairly recession proof, MSM’s margin and profits could still be hit by rising costs.

In particular, the company is exposed to fluctuations in the price of imported raw sugar while refined sugar is price controlled. Historically, any shortfall is made up by government subsidies, though this is not guaranteed and not necessarily to the full extent.

Current valuations are not compelling
FGV reported net profit of RM192.2 million in 1Q. We forecast the company’s net profit to total roughly RM1.11 billion for the full year and about RM1.09 billion in 2013. Looking further ahead, earnings growth is expected to be flattish in 2014/15.
That prices the stock at roughly 17.3 and 17.7 times our 2012/13 estimated earnings at our fair value of RM5.30 — at the higher end of the range of the local plantation sector’s valuations and well above prevailing valuations for regional planters. On the upside, shareholders can look forward to steady dividend income.

The company has indicated a minimum 50% profit payout ratio going forward. Based on our earnings forecast, annual dividends will total roughly 15 sen per share. That translates into net yield of about 2.9%, which is about mid-range for the sector.

Future acquisitions may enhance value
On a positive note, FGV will have quite a war chest for new acquisitions and expansion having raised some RM4.3 billion from the IPO (net of listing expenses). Future acquisitions may be earnings accretive. Of the total proceeds, some RM2.2 billion is allocated for the acquisition of plantation assets in the region and Africa.
Earlier this year, FGV acquired a 95% stake in one such project in West Kalimantan, where it plans to plant some 14,385ha with oil palm over the next three years. Greenfield projects will generate the most value over time but the gestation period is long, at least four years before the first harvest.

Thus, we will not see any immediate earnings impact. The company has further allocated some RM1.6 billion to acquire oils and fats manufacturing and logistics businesses as well as mills and refineries.

The vertical integration will offer synergistic benefits and strengthen FGV’s position as a key player in the industry globally. On the other hand, the downstream business is, generally, less lucrative and earnings tend to be more volatile because of the low margins.

Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have

positions in any of the stocks mentioned.

FGV: No immediate driver for earnings

Written by Insider Asia
Friday, 29 June 2012 17:00

Felda Global Ventures Holdings Bhd (FGV) was successfully listed on the Main Market of the Bursa Malaysia yesterday. The widely anticipated and high-profile listing came amid uncertain and weak market conditions.

Therefore, it was laudable that the stock did as well as it did. FGV shares made their debut at RM5.39, well above the retail and institutional offer prices of RM4.45 and RM4.55 respectively.

However, as mentioned in our previous article, we are more reserved when it comes to further gains from here after taking into account our earnings and growth forecast for the company.

The company’s main earnings contributor and growth driver is its upstream plantation business. With some 323,587ha of planted oil palm landbank, FGV is the third largest planter in the world. Plantation earnings are primarily dependent on three key factors — price, output and production cost.

Price: Rising tide will lift all boats
Crude palm oil (CPO) prices have come under pressure in recent weeks in line with the broad-based selloff in commodities and equities triggered by investor flight to safety on the back of an escalating eurozone crisis as well as expectations for weaker demand on slower global economic growth.

According to the Malaysian Palm Oil Board statistics, CPO prices averaged RM3,190 per tonne in 1Q12. The average selling price then rose as high as RM3,481 in April but fell back to RM3,189 per tonne in May.

As evidence of a slowdown in the global economy mounted, prices came under further selling pressure. The benchmark futures contracts traded on the Bursa Derivatives tumbled below RM2,900 per tonne before recouping some lost ground.

The futures contracts are now hovering around the RM3,000 per tonne mark. Forecast for lower average prices — especially going into the peak production period — have already led to some earnings downgrades for the plantation sector. Of course, CPO prices could still reverse course and move higher.

Indeed, we believe the underlying demand and supply conditions remain supportive of prices in the long run. Demand for palm oil is forecast to grow steadily, by roughly 4% to 5% per year. Aside from the European Union, the largest consumers of palm oil are emerging countries such as India, Indonesia, China and Pakistan, where the per capita consumption of oils and fats remains well below levels seen in developed nations.

For instance, the per capita consumption in China and India is estimated at roughly 25kg and 15kg respectively, while that in the US is estimated at 55kg and the EU at 59kg. Importantly, demand is growing against a backdrop of a relatively tight global inventory of oilseeds.

Supply is barely keeping pace with steady consumption growth with harvests increasingly affected by unpredictable and often extreme weather conditions around the world. Higher CPO prices, as a common denominator, would lead to improved earnings, and upward re-rating, for all plantations stocks. Under such a scenario, we should see FGV’s share price heading higher, in line with the sector.

Expect flattish earnings growth for foreseeable future
The second factor, production costs, tend to move in the same direction for all planters with the key components being fertiliser, labour and fuel costs that are
largely dictated by macro events.

This being the case, the most significant differentiator among planters then — aside from less tangible factors such as size, location, management and corporate governance — is the expected growth in fresh fruit bunch (FFB) output. Output growth is a function primarily of the age profile of the company’s trees.

Generally speaking, those with younger oil palm trees and higher proportion of newly maturing acreage have better growth prospects and earnings visibility amid short-term price gyrations than companies where most of the trees are already in their prime. In this respect, we are downbeat on FGV’s outlook for the next few years.

As mentioned in our previous article, the company’s mature acreage is expected to be on the decline for some years to come, due to the substantial replanting of old trees. This would translate into stagnant FFB harvest from FGV’s own estates, even assuming a gradual improvement in yields and thus earnings from the upstream plantation business.

The company’s downstream milling and refining operations, housed under 49%-owned associate, Felda Holdings Bhd (FHB), could see slightly better volume growth given that about two-thirds of the FFB processed are purchased from Felda settlers and other parties. Nevertheless, this is a volume-based business with low margins.The refinery business in particular has been tough amid intense pricing competition from
Indonesian refiners following changes to the country’s tax structure.
Meanwhile, earnings growth from the sugar business, housed

DJI is up more than 277+ points......come Monday will we see KHSB shoot?

Yes, brother Pacino , the decline in Smartag price on Friday is the possibility of the contra players. However, we take comfort that we can buy more at a cheaper price keeping in mind that come 1st September 2012 the Customs Department is making it mandatory for all forwarders to use Smartag RFID, whether they like it or not, no more postponement or excuses whatsoever in not using Smartag.

As I said previously that Smartag is NOT for contra players but to buy & keep for a certain period & we shall see money rolling in everyday for Smartag with regard to the above paragraph....at $10 to $18 per container per trip, think of the income Smartag will be getting from 1st September onwards. Think of the millions of containers in Malaysia.

If you are sill not familiar with Smartag , then please read the
more that 75 pages of Smartag & all the email from the Smartag CE's office to me in my forum, only then you will realize the full potential of Smartag.


Cheers & do have faith in Smartag.....good luck to all

Yes, brother chieng8182 , exactly and don't let those banks that issue warrants bully us. BTW, as a reminder to all is that WCT-WB is NOT ISSUED BY THE BANKS BUT BY WTC ITSELF......so we can take comfort that issuing banks can never kill WB unless they start discouraging people in buying mother WCT by setting big roadblocks.

Let's us see if WCT can land the KL Financial Center project worth billion $ & I came to learn that WCT stand a good chance because of it's experience and it being solid financial sound.

But still I have confidence in WCT & son WB....do you realize that CIMB is the issuer of CE and it expires in 30/8/2012 & CIMB is the only research house that give the lowest TP for WCT.....call that coincidence or plain discouragement & preventing people in acquiring WCT?

Cheers.

Everyone happy today with MBF & son. In fact I had been collecting 1 or 2 days earlier when they are much cheaper....they did mention that they want to hive of their credit card business a few days earlier & only yesterday THE STAR carry the story & then the rocket just shoots, hee, hee, hee

That's why I always say do your homework first as it pays in a long way.

Cheers & to those who miss the boat, better luck next time.Never mind if you miss today's boat as there will be other opportunities later if you care to look at it......cheers, have a wonderful weekend too.

Go for value added counters, look for good performance counters & having good earning every quarter and you can't go wrong...never be too greedy to chase worthless pennies & then get burnt just for being too greedy....face reality my friends and as I said before, nothing is handed to you on a silver platter.

Cheers.

Good performance & good earnings counters, people afraid to buy high or chase higher but if it's worthless & money losing pennies, they chase & buy higher in large volumes too like a mad dog & usually the small kakis kena kuat kuat. How many times have you heard so many of your friends who said that they still suffer big losses on pennies?

Well frankly, that's what the sharks are good at.

No necessary brother chieng8182 as when there are continue support buying higher by people instead of queuing lower by 1 cent & hoping to get it cheap & they hope to average down, then the issuing banks are at our mercy. If you average down , then the previous bought ones bought higher will lose it's value too.Take a case of BIMB case for example, everyone buying & buying higher the mother share & so the son will automatically follow.....the son goes up very high & there's really nothing that the issuing bank can do about it....they are just at your mercy & waiting to be slaughtered, hee,, hee,, hee

So if 100 people just buy 50 lots, then it will be 5000 lots eaten up but as normal people wants things cheap & in playing shares, this is the wrong strategy.

As one well known American investor says...I quote..

Are you afraid to pay the higher price-earnings ratios? Those are the real bargains. This is buy-high, sell-higher. And this is how you end up with the great winners.


So if someones to collect too, they push down with 1 to 10 lots at 1 cent cheaper & so the panicky ones or the contra one will definately follow & sell cheaper too...hee, hee,, hee

Cheers.

Then they place 5499 unit for sale at $2.43, so how to go up when there's a big road block there...damn.

I think it's the issuing house of warrants that place a total 5300+ units at $2.46 early in the morning to discourage people from buying high....so how to naik WCT & son price. Damn these bloodd sucking banks.

Mission accomplished...sold everything both mother & son.

woooooooooooooooooooooo

Exactly brother Chew Kew Yang, look at the mother share, if it goes up so does the son but then sometimes people goreng warrants to a high without taking the mother share into consideration.

Cheers.

Correction to the above on WCT-WB

Exercise price: RM2.50 sen


thank you.

yahoooooooooooooooooo

Wattants may go as far at 40+ cents if they sell MBF above their book value. Presently MFB NTA is at $1.73 cents....so you do your calculations please & you decide...cheers.

MBF boss said today that if they sell then they are going to sell above the book value & not cheap...it's in the papers today.And they are not short of bidder....go for it.

From HwangDBS Research......actually we the holders of WCT shares have nothing to fear as this is an old case but on Thursday traders panic for nothing and they themselves had to be blamed for selling cheaply while we all sapu, hee, hee, hee




WCT; Buy; RM2.40
Target Price: RM3.75; WCT MK

WCT has announced the following in relation to the on-going arbitration for the Nad Al Sheba Dubai racecourse project.

1. The JV (WCT and Arabetec)’s dispute and claims had been revised from time to time and at present, totals c.AED2.8bn.
2. Meydan has taken the position that the case has expired by effluxion of time. After deliberation, the Arbitration Tribunal had on 9 June 2012 rejected conclusively Meydan’s submission that the arbitration proceedings have expired.
3. The JV WCT has received a civil suit/counter claim from Meydan on 26 June 2012 for a sum of AED3.5 bn.
4. WCT will continue to pursue its claim pursuant to the on-going arbitration proceedings and will take all necessary steps to defend and/or oppose the civil suit filed by Meydan.


Based on our meeting with management yesterday, we conclude that that there are no grounds for a civil suit to take place. This is because there is an on-going valid and binding arbitration between Meydan and the JV where it is clearly stated in the contract clause that any disagreements must be settled via this process. This is clearly evidenced by the Arbitration Tribunal’s move to reject Meydan’s notion that the arbitration has expired. WCT is seeking legal opinion to oppose the entire civil suit.


WCT is optimistic on this piece of newsflow citing Meydan’s disclosure of the counter claim of AED3.5bn as a parameter for the JV to work with. Previously, there was no indication of what amount Meydan was seeking before. WCT had provided for RM80m in 2008 in relation to work completed but not yet paid. Recall, the certified portion of works for which payment had not been received amounts to RM500m at the JV level. Of this, RM340m is for payment to nominated subcontractors. Hence, WCT’s portion of unpaid work is c.RM80m (50% of the balance of RM160m). The number seems low because the JV was fortunate enough to be paid on a monthly basis as opposed to percentage of completion.


We believe WCT has a more than fair chance of winning the arbitration process where it was likely a victim of circumstance. Recall, the core structure of the hotel, grandstand and boathouse was between 95-100% completed at the time of termination in Dec-2008. Of the remaining 45% of work not done, 90% of this is for nominated subcontractors and the balance for the JV company.


Having said that the full amount of AED2.8bn (up from RM1.7bn in 2009/2009) being claims relates to loss of profit for the contract, reputational damage, demobilisation cost, rental of its machinery, billed works not yet paid and reversal of LAD charges will depend on the outcome of the arbitration. Moreover, even in the event that the JV wins, Meydan is cash-strapped and it may have to resort to other sorts of payment (e.g. asset sales etc).


We maintain our BUY rating and SOP-derived TP of RM3.75.

Source: HwangDBS Research - 28 June 2012

More from CIMB research on WCT..


Background on Nad Al-Sheba

In Sep 07, WCT announced that Arabtec-WCT, a 50:50 JV was awarded a build-only contract for the construction of Nad Al-Sheba racecourse project in Dubai. This was a high-profile project, in line with Dubai’s aim to be a “horse racing city”. The RM4.6bn cost covers the total structure spanning 76m sq ft. It features a 1km-long grandstand with the capacity to house 55k-60k spectators. Other structures include a five-star hotel with 400 rooms and villas, an 18-hole championship golf course and state-of-the-art dirt and turf race tracks. WCT’s share of works was RM2.3bn, making it the group’s single largest project, both locally and overseas. Back then, WCT was the first foreign company in a consortium to secure a project of this scale.




How did the dispute come about?

In Jan 09, when physical progress was at 55%, Meydan LLC cancelled the contract with Arabtec-WCT due to “non-adherence to the agreed time schedule for construction”. It was counter argued that delays on some portions of the racecourse were due to various changes in design by Meydan. WCT’s portion of works covered mainly the 1km grandstand, which was 95% completed at the point of the cancellation of the contract. An amicable solution was the earlier course of action but the matter was subsequently brought before the Dubai International Arbitration Centre (DIAC). The arbitration is still ongoing after more than two years. In 4Q08, WCT made RM80m provisions, being the group’s 50% share of the total RM160m work done but not paid for and some expenses incurred by the JV.




Conference call provided some comfort

Overall, the conference call with management focused mainly on the worst-case scenario and whether there may be more negative surprises lurking in the arbitration process. Management reassured that it had already largely provided for the worst-case scenario when it made RM80m provisions in FY08. The 2.8bn dirham (RM2.5bn) total claims by Arabtec-WCT and 3.5bn dirham (RM3bn) counter claims by Meydan are not new as the matter has been part of the arbitration proceedings. The civil suit by Meydan LLC should be a non-event or neutral to the progress of the arbitration.
Arbitration is the only way; reputation is still intact
There are strong claims supporting Arabtec-WCT JV’s defence of the civil suit, which according to the JV’s legal advisers, is baseless and can be contested. Arbitration is the only way to resolve the matter. The timeline is unclear but it could take another year before there is any conclusion. Management added that this situation should not dent the group’s reputation outside Dubai, i.e., in Qatar, Abu Dhabi and Oman, where prospects for contract awards remain promising.

Now for those who bought WCT & son WB needn't worry to much about the old 2009 court case. Actually the company Meydan which own the racecourse wants an out of court settlement after WCT-Arabtec JV went to apply through for non payment for racecourse build and now this Meydah really malu and so they counter sue to threaten WCT-Arabtec JV....can you imagine that owe someone money & want to sue the company that you owe money, what a joke,haa, haa, haa


Now read please below...

WCT (BUY)

Meydan Arbitration Progress

* WCT-Arabtec JV (50:50 stake) has updated the arbitration status for the Nad Al-Sheba Racecourse Project by Meydan LLC.
* We believe that WCT-Arabtec JV will press ahead with arbitration proceedings against Meydan. On the other hand, Meydan has retaliated by filing a civil suit for AED3.5bn (~RM3bn) against the JV, which we believe is a tactic to get them to settle outside the courtroom. Overall, we are neutral on this event as it will be a long drawn affair.
* In WCT's books, the company has RM265m in claims against Meydan and payables of RM265m to the nominated subcontractor which has a back-to-back arrangement. Hence, any writedown should not occur.
* No changes made to our forecast. Maintain BUY with unchanged TP of RM3.36 based on 14x average FY12 and FY13 earnings.

Source: Hong Leong Investment Bank Research - 28 June 2012


I feel that WCT & WB will be flying soon by the looks of the volume traded.

Cheers & do hope all of you look forward to WCT reaching TO of between $3.20 to $3.93.

People are noticing WCT & son WB now. Tomorrow rocket fuel is applied, hee, hee, hee

Those who throw mother & son WB because of stale news yesterday had themselves to blame for selling cheap yesterday....now that both WCT & WB are going higher & higher

You will notice that big kakis sapu WCT in more than 1000 lots each time....possible for goreng high later on?

Cheers , be strong my friends & we will see a pot of gold at the end of the rainbow. For those like me who sapu WCT & WB at throwaway prices yesterday is getting good profits today. Imagine the panicky ones selling plenty of WB at 24 to 25 cents, now it's 27.5 cents, a 10-12% gain from yesterday price....now this makes economic sense.

Good day for WCT & son WB despite the bad market....more to come tomorrow,that's for sure.

Cheers.

WCT & WB go go gooooooooooo

Target RM3.05 (Short Term: Trading Buy)


Investors should not be too worried about the civil suit that Meydan LLC has filed against WCT over the completed Dubai race course project. This is just a tactical move and can be contested. A sizeable financial impact on top of WCT.s earlier provisions is not likely. Our target price is still pegged to 30% RNAV discount. During yesterday.s conference call, management reassured us that its chances in the arbitration process are still good. The stock remains a Trading Buy and not an Outperform due to the political overhang on the sector. Potential rerating catalysts are job wins, which could top RM1bn in 2H12.

This is a sure win case for WCT....many thanks for the updates.

Strong buying support for WCT at 71% and son WB at 46%. Mother up by 7 cents and we will see son going higher in the afternoon perhaps, keep your fingers cross....cheers

Brother limpek4896 , if it breaks RM4.80, then Ah Jib Kor will shiver in his pants, hee, hee,,hee

Some contra kakis are so kiasu & kiasi that they sold WB at 25.5 cents when it was trading at 26.5 cents, OMG.

yahooooooooooooo

WCT Berhad - OUTPERFORM - 27 June 2012

Price Target : $3.97
Upside: $1.59

.....just out in the late afternoon after panic selling of WCT & son WB

We are maintaining our OUTPERFORM recommendation on WCT with an unchanged Target Price of RM3.92 based on SOP valuation. WCT is our Top Pick for the construction sector in 3Q12 and we expect it will be able to meet our RM1.0b mark order book replenishment for FY12. To date, WCT has secured three projects with a cumulative value of c. RM700m. In 3Q12, we expect WCT to secure some other projects like KLFID foundation work, PLUS highway and Oman Expressway. Its order book now stands at RM2.4b, which could last it for another two to three years. Its tender book now stands at RM5.5b and we expect WCT to materialise 25% of the tenders by end of FY12. For now, we are keeping our RM1.0b order book assumption unchanged at this juncture. Based on the contracts received thus far, WCT just needs to secure another RM300m worth of contracts, representing 30% to our assumption, in FY12 to meet our forecast.

On the verge of meeting RM1.0b order book mark. To date, WCT is short of RM300m from our order book replenishment assumption for FY12. With the potential projects lining up like KLFID (RM1.2b), PLUS highway (RM500m to RM1.0b) and Oman expressway (RM1.2b, WCT has a 80% stake in its Oman subsidiary), we are confident that WCT will be able to meet our target for FY12. The combined value of these projects (RM2.9b) is definitely higher than our order book replenishment assumption for FY12.

Stable income from property investment division. The newly completed Paradigm Mall has got off to a good start with the average visitor traffic per day at 300,000 on weekdays and doubles of that for the weekend. The total net lettable area (NLA) stood at 680,000 sqf with an occupancy rate of 92%. Going forward, FY13 will be an exciting year for WCT following the launching of its third property investment in KLIA 2 i.e. Integrated Complex (IC). With the existing LCCT passenger traffic of c. 15m per annum, this bodes well for the IC income in the near future.

Tender book stands at RM5.5b. The current tender book now stands at RM5.5b with RM2.8b being overseas tenders, particularly in the Middle East countries (Oman and UAE). Some of the local projects which are expected to be secured in the near term are KLFID and PLUS Expressway 4th lane widening. We understand that KLFID foundation work could be worth more than RM1.0b and the PLUS contract at RM1.0b as well. To recap, PLUS previously announced in 2009 that it will spend RM1.0b in CAPEX for the lane widening project and this will be separated into two packages at about RM500m each. We believe that one of the packages will be awarded in the near term. In the Middle East, WCT is expected to secure the Oman Expressway project, which could be worth about RM1.2b.

We are maintaining our OUTPERFORM recommendation on WCT with unchanged TP at RM3.92 based on SOP valuation. We believe that 3Q12 will be an exciting period for WCT as we expect a few more contracts to be secured during the period. WCT is our top pick for the construction sector in 3Q12.


......our time will come, today shooting?

mail already send, check it please...thank you.

DJI is in the positive zone & we will see our WCT & son WB opening much higher with all those contra kakis, selling in panic , gone already.

Both brothers, check your mail please...thanks .

Brother simonfish, done , so check your mail please....thank you.

Tomorrow when all the dust had settled, then WB will move higher.....those who panic & sell for stale news now regret that it had reach 26 cents, tomorrow ???

Cheers.

Guys & gals, there are some updates in Smartag in an email just received from the CEO's office about 5 minutes ago....please read it in my forum, many thanks.

Cheers.

Remember WB had 10 more months to play, once mother WCT reach $3 , WB will command a price of at least 55 cents, haa, haa, haa

Tomorrow WB open at 30 cents, hee,,hee, hee

Great brother tsejuie top & be collecting your rewards soon. As I said today's only an over reaction to an old court matter.

Tomorrow it will open high.....cheers.

Buy your WCT-WB before it's gone as there are more buyers than sellers now....now the dust had settle and I guess it's time to pick it up....today is only an over reaction to an old stale news of court proceedings....cheers. BTW, most of Europe opens in GREEN and I feel late in the afternoon our bursa will pick up.

Cheers.

You are welcome sister tini.....our WB still got a long way to go, roughly 10 months to expiry and it between 3 good quarter reports & more projects especially from Vale of Brazil.

Cheers.

Sister tini, you bought at a much higher price , so now is the chance to lower your abp....cheers.

It's just people are over reacting to this piece of news as actually it's a stale news already and had been in the court for 3 years already.

I am still buying and buying & when the dust had settled I am sure I get good benefits.

You take the cue from the buying of mother share as people are buying still.

Cheers.

Moreover WCT is NOT BEING SUED BUT SUING THE OTHER PARTY THAT REFUSES TO PAY MONEY FOR JOB COMPLETED.