Thanks Niki for keeping us abreast of developments.

Oh dear!!

According to Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, as of November 2020, a total of RM28 billion (approximately US$6.9 billion) had been injected into Malaysia Airlines by Khazanah Nasional

We should take a leaf from our more prosperous southern neighbours and learn to separate the "wheat from the chaff".

Looked up Perplexity and this came through : In total, AirAsia received approximately 1.8 billion ringgit in loans during the pandemic, with most of it backed or guaranteed by the Malaysian government.

Singapore’s state investor Temasek Holdings and others will inject as much as 19 billion Singapore dollars ($13.27bn) into Singapore Airlines (SIA) in the world’s single-biggest rescue of an airline slammed by the coronavirus pandemic.

If the Malaysian govt had any sense considering the flaying MAS is having to go through with its ace management it had better support the goose that may lay the tourist eggs.

👌

As the saying goes, paraphrased, we have to keep them honest.

@Destintyl I shall let that remark pass. We are not derampers/trolls but allocators of funds and not some willy nilly two bob investor. The concession agreement was signed in 2013 and we have had many reincarnations of completion dates. This one was in the Edge " After a long wait, West Coast Expressway to be completed end-2024". The saga continues. To suggest we are in a for a quick buck is rather flippant and for the birds. The risk investors run; there is every possibility it would be taken over by Amanat Lebuhraya Rakyat Bhd (ALR) at some stage (just as Gamuda sold its tolled roads) before it reaches its full potential. Gamuda has enjoyed years of toll revenue and I wonder how many years WCE would have before it is sold. As for now it is EBITDA positive and it would take several year at this rate to be profitable. Some of us have to reluctantly put this in our pipe and contemplate. Always be reminded of UEM (owners of PLUS) and how so many lost out when it was privatised.

What progress 77% for Section 7? and completed by March 2026? These dates are organic.. To better understand valuation look up Choivo's cashflow projection ( readily available on the internet) and see how far off WCE is from its destiny. China contractors would have finished it long ago. I have been selling progressively and have the last third of my holdings left and that is the frustration as there were misleading statements of end date and it kept shifting further and further. Money invested could have been deployed elsewhere for better returns.

For value and growth Gamuda …

Joke is on shareholders

incompetence either on management or the approving authorities...quite farcical for a "third world category" infrastructure project.. the best have left

taking some off the table (profit) never hurts

Will be Ebitda positive perhaps.. with Sections open interest payments are recognised and not capitalised..

absolute rotters

Quite right Sovereign, but with a qualifier; with good governance and transparent management.

pampers you are so right..

off market 63million shares done at 64.5

https://www.youtube.com/watch?v=Gl8Ad7Tr9vQ&pp=ygUMd2NlIHByb2dyZXNz

I echo your greetings Mr Waters

Armada’s future would lift off with Petronas being the benefactor.. Hopefully the merger takes place with MISC’s outfit.

👌

https://www.businesstoday.com.my/2024/11/16/gain-for-misc-with-bumi-armada-synergy/

This is about a month old and am not sure if posted earlier by others but here goes.
Gain For MISC With Bumi Armada Synergy
By Editor -November 16, 2024

News broke in Jul 2024 that MISC may take a substantial stake in Bumi Armada Berhad, obliquely implying that Objektif Bersatu Sdn Bhd (OBSB, ultimately owned by tycoon Ananda Krishan) that holds a 34.6% stake in BAB could be looking to exit the company.

MISC’s share price subsequently corrected 16% from RM8.90 on 3 Jul 2024 to a recent low of RM7.46 on 25 Oct 2024, as shareholders feared the implications of MISC possibly having to expend a lot of its cash on a mandatory general offer (MGO). We think that this worst-case scenario is now unlikely to be true, as MISC and BAB announced to Bursa on 14 Nov 2024 that both parties have signed an MOU and will over the next nine months explore a merger of MISC’s Offshore Business Unit (OBU) with BAB in an all-share transaction. CGS Investment Bank theorises that MISC may inject its OBU into BAB in exchange for new BAB shares. The house’s target price for BAB implies a RM4.7bn valuation (in contrast to its market cap of RM3bn), while it also values MISC’s offshore business at RM15bn.

Combining the two entities at these valuations, MISC will end up with a 76% stake in the merged entity (‘ME’), while OBSB’s stake in ME may be diluted to 8.3%. MISC may be obliged to execute an MGO for BAB, according to the Malaysian Code on Take-Overs and Mergers 2016, but if OBSB publicly announces that it does not intend to accept the MGO, there is a chance that MISC may not cross the compulsory acquisition threshold of 90%, which fits in well with the stated intention of both MISC and BAB to keep ME listed.

As such, assuming the merger is completed, CGS expects MISC to place out shares in ME to ensure adequate free float. A 10% placement by MISC may raise RM1.97bn for MISC (assuming a valuation of RM19.7bn for ME), equivalent to 22% of the RM9.1bn that MISC had spent on building the FPSO Mero-3. In this way, CGS believes that MISC can indirectly achieve its goal of paring down its stake in Mero-3, since its efforts to find trade buyers for the Mero-3 have so far not been successful, according to the company.

Operating synergies and prospects for MISC’s growth
MISC may experience a relief rally, since an all-shares transaction will help preserve MISC’s cash balances. The house thinks that a merger of two mid-sized FPSO companies can also help pool engineering resources, with cost synergies, while MISC can gain exposure to BAB’s growth initiatives, including the Bluestreak carbon capture and storage (CCS) project in the UK, and the potential to monetise gas via a floating liquefied natural gas (FLNG) solution in Indonesia. The house reiterates Add on these potential rerating catalysts.

EGMs will need to be convened at both companies, giving minority shareholders a chance to analyse closely and vote accordingly. The key downside risks are if the valuation for MISC’s OBU is lower than expected, or if BAB’s valuation is higher than expected.

Gamuda has top quality mgmt and am afraid IJM has let that slip over the last two decades. Gamuda’s Mcap is over 2x IJMs.

TimCoke … any basis to your comment ?

@Robert Waters lol

charlatans

Section 2 ??? opening imminent another faux pas… one blunder after another.

The exercise period of the Warrants comprises the period commencing from the issue date of the Warrants up to the market day immediately before the 5th anniversary of the issue date of the Warrants ("First Exercise Period") and the period commencing from the 5th anniversary of the issue date of the Warrants up to the market day immediately before the 10th anniversary of the issue date of the Warrants ("Second Exercise Period") ("Exercise Period"). The Warrants entail a step-up pricing mechanism whereby the exercise price for the First Exercise Period is RM0.39 and the exercise price for the Second Exercise Period is RM0.45. Any Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid or have any effect. This Announcement is dated 22 November 2019.

an inspiring insight!!! true genius

Was an honour having worked for him. May his soul rest in peace.

indeed

true. farcical

Poorly managed....best have emigrated leaving rubbish to run companies

Thanks Treeinvestor ..Bloomberg has reported it.

It would take a genius to be unprofitable

Dividend yield
on average is about 3% while MGS is at 3.77%.. Hopefully PBA hikes it above the safe MGS

It is largely state owned. If value is to be created it had better pay good dividends.

I stand corrected

Ranhill & Puncak Niaga - Malaysia boleh policy

PBA runs the risk of serving the public rather than maximising shareholder value, a political animal as it is.

This heroic stock is in a moribund state

we need Singapore CPF to support

do not trust management; promises promises

Wow Vicky you are being quite dramatic

it is a large amount of shares listed in such a short time

Sadly, suspect this is for the long haul and it appears in transition away from fossil fuels and has not become the typical tomorrow stock. There seems not much point even if we scream from the rafters and go blue in our faces I doubt much attention is paid to us retail investors. If the kitchen is too hot one might as well bite the bullet as I think this mob is for the long haul. So it is well and dandy shooting Gary the messenger but the pivot is AK himself who is answerable for the misery laden on us the retailers , some of whom have fallen in love with it.