Posted by Witty > 2018-07-17 16:48 | Report Abuse

Haha. Its ok la. Got up got down.
Luckily run in morning.

Wait for best price in again la.

Posted by TanK0318 > 2018-07-17 17:15 | Report Abuse

Aiyaaaaaaaaaa what happen here

Posted by PiddleMinger > 2018-07-17 17:35 | Report Abuse

The fundamentals are ok, just the charts don't look good. I will reenter at a reasonable price. HSR, ECRL, MRT3, etc is just put on hold temporarily. Gkent has a good track record of securing projects and they have a healthy financial book to overcome whatever short term challenges.

The other *G company (won't mention names less ppl accuse me of promoting other counters) has better short term prospects.

Posted by TanK0318 > 2018-07-17 17:44 | Report Abuse

Rr88 y u jump boat d ???? Many of them bliv in you, follow u... but u jump first

Posted by enigmatic > 2018-07-17 18:23 | Report Abuse

this is why don't trust anyone's advice too much.

Posted by eleh > 2018-07-17 19:36 | Report Abuse

Not going to sell. Bought at rm1 cukup syok.

Posted by TanK0318 > 2018-07-17 19:50 | Report Abuse

Wow, rr88 jump boat straight disappear???

Posted by TanK0318 > 2018-07-17 19:52 | Report Abuse

No wonder rr88 cant die, see boat sinking ald jump... burn a bit nia, wont die wont die

Posted by Michael Kwok > 2018-07-17 20:07 | Report Abuse

Wht to scare?.Recovery will be volatile.Not stable recovery.I put rm 2.30-rm 2.60.

Posted by Michael Kwok > 2018-07-17 20:08 | Report Abuse

Maybe in months time.

Posted by PiddleMinger > 2018-07-17 20:18 | Report Abuse

Eleh, don't turn a profit into loss ;)

Posted by longtermvaluegain > 2018-07-17 20:53 | Report Abuse

Construction - 2H18 Outlook: Remains Challenging

Author: HLInvest | Publish date: Tue, 17 Jul 2018, 09:08 AM

The HSR and MRT3 have been scrapped while terms of the ECRL are being renegotiated and LRT3 has been downsized. We believe MRT2 may be the next project to be subjected to cost reduction. A new deadline of 4 Aug to conclude SPLASH deal has been set by the new government and we are optimistic towards the near term settlement. Maintain NEUTRAL on the sector. Maintain HOLD and raise TP for both GKent and MRCB after adding back LRT3 NPV contribution. Maintain BUY with higher TP for Taliworks after adding back receivables owed by SPLASH.

Review of mega projects. Post GE14, the new Pakatan Harapan (PH) government has embarked on a review of all mega projects, as promised in its manifesto. HSR (RM60-70bn) and MRT3 (RM40bn) were shelved shortly thereafter. Although there were reports regarding revival of these projects, we reckon that chances are slim in the near term. ECRL has been suspended pending further renegotiation which is expected to be conducted during the Finance Minister’s visit to China at the end of this month. LRT3 has been approved to continue at a reduced total cost of RM16.63bn and cost rationalisation measures such as extension of construction timeline from 2020 to 2024 and restructuring of project from PDP model to a “fixed price contract”.

MRT2 next? We opine that next mega project that is likely to undertake cost-cutting measures is MRT2 (RM32bn). Listed companies that are expecting to be negatively affected are Gamuda and MMC (PDP role and underground package of RM15.5bn), Ahmad Zaki (2 work packages amounted to RM1.7bn), IJM (RM1.5bn viaduct package), Suncon (3 work packages amounted to RM1.5bn), GKent (RM1bn track works), WCT (2 work packages amounted to RM1.1bn) and Gadang (RM952m viaduct package).

2H18 job flows. In 1H18, domestic contract awards to listed contractors totalled RM8.7bn, decreasing 18% YoY. We expect a slowing in job flows in 2H following downsizing of mega projects, with 2018 contract awards to end at RM15bn, a steep decline from 2017 (RM29bn) and 2016 (RM56bn).

Toll abolishment. In its election manifesto, PH also promised to review all highway concession agreements, taking over every toll concession with the ultimate aim of abolishing highway tolls in stages. Up till now no decision has been made by the new government. We opine that a full toll abolishment without fair compensation scenario is unlikely as this will spook investor confidence which may affect funding for future infrastructure development plan.

Water deal. A new deadline of 4 Aug to conclude the SPLASH deal has been set by the new Minister of Water, Land and Natural Resources and assurance has been given that the issue would be settled before the new deadline. Major beneficiaries from settlement of the deal are Gamuda and KPS via 40% and 30% stake in SPLASH respectively and Taliworks via the recovery of RM638m receivables (as at 31 March 2018) owed by SPLASH. Besides, pipe manufacturers such as Engtex, Hiap Teck, Choo Bee and YLI may benefit from rollout of pipe-replacement projects in order to curb Non-Revenue Water (NRW) problem post SPLASH deal.

Maintain NEUTRAL. Maintain NEUTRAL on construction post changes in federal government and scrapping of mega projects. The domestic construction industry landscape is expected to remain challenging and we do not expect a significant improvement in near term. Nonetheless, high order book levels (average cover ratio of 4.9x) following the robust job flows in the past 2 years should help sustain construction earnings amid subdued near term industry prospects.
Stock Call Changes
LRT3 PDP Role (GKent & MRCB)

Since the total project cost of LRT3 has been halved (from RM31.65bn to RM16.63bn), we assume the PDP fee contribution from the project will reduce correspondingly. Although the project has been restructured to ‘fixed price contract’ model, we opine that our assumption of fee reduction is consistent with the new model as the model is part of cost-cutting measures. As such, we cut GKent FY19-21 earnings by 9.5%, 14.5% and 23.6% respectively. For MRCB, we cut FY18-20 earnings by 10.0%, 11.2% and 15.2% respectively. Despite the earnings cut, we raise GKent’s TP to RM1.27 (from RM1.17) and MRCB’s TP to RM0.65 (from RM0.63) after adding back the LRT3 NPV contribution into their respective SOP valuation. We opine that our previous bear case scenario of no LRT3 contribution to SOP may have been too conservative following last week’s announcement that the project will continue amid a scaled down basis. Maintain HOLD for both GKent and MRCB.

Posted by longtermvaluegain > 2018-07-17 20:54 | Report Abuse

下半年不乐观。

Posted by ray1980 > 2018-07-17 20:59 | Report Abuse

All this sector company running old projects on hand only.So bad...

Posted by Oliveoil > 2018-07-17 22:34 | Report Abuse

Will Gkent drop further tomorrow ?

Posted by PiddleMinger > 2018-07-17 23:15 | Report Abuse

Yes. Absolutely

Posted by Oliveoil > 2018-07-17 23:29 | Report Abuse

Why?

Posted by Cockroach Paul Lee > 2018-07-17 23:38 | Report Abuse

when 1.90 many people rush in to buy...why sell now? still cheap...can hold for longer time.
coming QR will announce dividends, according to dividends policy

Posted by Sam1026 > 2018-07-18 01:03 | Report Abuse

(KUALA LUMPUR Bernama) - penganalisis Hong Leong Investment Bank Research menunjukkan, MRT Laluan 2 (MRT2) dijangka menjadi sasaran seterusnya pengecilan, apabila kesan bahan beberapa syarikat tersenarai, penganalisis mengekalkan medan Kedudukan pelaburan "neutral" .

Dengan pejabat kerajaan yang baru, Longxin High Speed ​​Rail dan MRT Route 3 telah dibatalkan, sementara Railway Coast East (ECRL, atau Rail East) adalah klausa rundingan semula.

Bagi LRT3, ia sedang dikurangkan oleh kerajaan baru untuk menjimatkan kos. Penganalisis percaya bahawa MRT2 dengan nilai keseluruhan RM32 bilion mungkin menjadi target seterusnya bagi kerajaan untuk mengurangkan kos.

Jika ia adalah benar-benar untuk MRT2 "memotong" syarikat tersenarai terbabit, termasuk Gamuda (GAMUDA, 5398, saham-saham pembinaan board), Ma Mining (MMCCORP, 2194, Lembaga Perdagangan dan saham perkhidmatan), IJM (IJM, 3336, lembaga Unit pembinaan), bangunan Sunway (SUNCON, 5263, saham-saham pembinaan board), George Kent (GKENT, 3204, saham-saham pembinaan board), WCT Holdings (WCT, 9679, saham-saham pembinaan board) dan Garden Avenue (Gadang, 9261, seni bina motherboard Saham).

Pada separuh pertama tahun ini, kontrak domestik yang diberikan kepada syarikat tersenarai berjumlah RM8.7 bilion, penurunan tahunan sebanyak 18%.

Memandang ke hadapan, penganalisis dijangka kontrak tersebut akan mengalir ke mana perlahan, kerana beberapa projek-projek besar adalah pengecilan, anugerah kontrak tahun ini dijangka harga kepada RM15 bilion, yang kurang daripada itu 29 bilion ringgit pada tahun lepas.



Sukar untuk menghapuskan sepenuhnya caj saluran

Penganalisis mengekalkan penarafan pelaburan "Neutral" di lapangan, dan prospek sektor pembinaan domestik dijangka terus mencabar dan tidak akan ada peningkatan yang ketara dalam jangka pendek.

Nasib baik, aliran kontrak yang berkembang pesat sejak dua tahun lalu dijangka menyokong keuntungan bersih saham pembinaan.

Di samping itu, kerajaan baru juga menyebut dalam deklarasi pilihan raya umum bahawa ia akan mengkaji semua kontrak francais avenue dengan tujuan untuk menghapuskan caj saluran dalam fasa. Walau bagaimanapun, belum ada perkembangan baru setakat ini.

"Kami percaya bahawa tidak mungkin pembatalan menyeluruh terhadap bayaran avenue akan dibuat tanpa pampasan yang berpatutan, kerana ini akan menimbulkan keyakinan pelabur dan seterusnya memberi kesan kepada pembiayaan pembangunan infrastruktur masa depan."



Jika Bekalan Air Xuezhou menyelesaikan pemenang terbesar Dafa Langsang

Sebaliknya, Menteri Air, Tanah dan Sumber Asli, Seville berkata, masalah bekalan air di Selangor akan diselesaikan pada 4 Ogos.

Penganalisis berkata jika berjaya diselesaikan, penerima utama akan menjadi Gamuda dan Bo Langsang Group (KPS, 5843, Lembaga Perdagangan dan saham perkhidmatan), kerana kedua-dua telah diadakan oleh Syarikat Negeri Selangor Water (SPLASH) 40 % dan ekuiti 30%.

Di samping itu, Dali (TALIWRK, 8524, Perkhidmatan Perdagangan Utama) juga dijangka pulih daripada penghutang 638 juta ringgit daripada SPLASH.

Bukan itu sahaja, pengeluar paip, seperti Yong Pacific Group (Engtex, 5056, Lembaga Perdagangan dan saham perkhidmatan), Persatuan Jerman (HIAPTEK, 5072, Lembaga Perdagangan dan saham perkhidmatan), Amerika Syarikat bersama-sama (CHOOBEE, 5797, lembaga stok barangan perusahaan) dan Kesatuan Industri (YLI, 7014, produk industri utama) juga boleh mendapat manfaat daripada projek penggantian paip air.

Posted by upshare > 2018-07-18 07:50 | Report Abuse

Game over..

Posted by ray1980 > 2018-07-18 07:57 | Report Abuse

All old government projects looking like ' racun ' for construction sectors company!Cannot die n cannot get more earning!

Posted by Data5000 > 2018-07-18 07:58 | Report Abuse

丰隆投行研究分析员点出，捷运路线2（MRT2）料是下一个被缩减规模的目标，届时料冲击部分上市公司，分析员维持领域“中和”的投资评级。

随着新政府上台，隆新高铁和捷运路线3已经被取消，而东海岸铁路（ECRL，简称东铁），则是重新谈判条款。

至于轻快铁路线3（LRT3），则是被新政府缩减规模，以求节省成本。分析员认为，总值320亿令吉的MRT2，有可能成为政府缩减成本的下一个目标。

若真的对MRT2“开刀”，受影响的上市公司，将包括金务大（GAMUDA，5398，主板建筑股）、马矿业（MMCCORP，2194 ，主板贸服股）、IJM（IJM，3336，主板建筑股）、双威建筑（SUNCON，5263，主板建筑股）、乔治肯特（GKENT，3204，主板建筑股）、WCT控股（WCT，9679，主板建筑股）和嘉登（GADANG，9261，主板建筑股）。

回顾上半年，颁发给上市公司的国内合约有87亿令吉，按年减少了18%。

展望下半年，分析员预见合约流会走缓，因部分大型项目都被缩减规模，今年的合约颁发料企于150亿令吉，比去年的290亿令吉显著减少。

Posted by lachai2004 > 2018-07-18 08:09 | Report Abuse

GK likely to consolidate downward to find support at lower level but it will definitely to retest the recent high of RM1.47. Please take note that for the last 3 sessions it had done about volume of 100 Millions with price range of RM1.40- RM1.47 which mean that investors whose had bought & had not liquidate yet stand high changes of incuring paper loss.

Posted by Tabung_Harapan > 2018-07-18 08:19 | Report Abuse

Collect so hard only RM 153 million. To be finished by PDP like G Kent/MRCB?

Posted by ChickyWaWa > 2018-07-18 09:16 | Report Abuse

Sink liao sink liao... Stupid management do nothing on SBB... Shame on them.

Posted by Mr_Chartist > 2018-07-18 09:19 | Report Abuse

The price will fall if failed to stay and break above RM1.56 .

Posted by nasaie24 > 2018-07-18 15:19 | Report Abuse

limit up coming

Posted by GoodBoy > 2018-07-18 15:38 | Report Abuse

Constructions slow down already ... waiting for catalyst ...

Posted by goreng_kaki > 2018-07-18 16:55 | Report Abuse

all faster switch to FBMKLCI-C5A, 3% premium only

Posted by 120453 > 2018-07-18 21:23 | Report Abuse

T+4 & 3 days no SBB, we’ll support.
Very interesting....

Posted by ray1980 > 2018-07-18 21:42 | Report Abuse

MACC collect n checking all documents from companies who 'kena' ECRL projects on today.

Posted by nasaie24 > 2018-07-18 22:36 | Report Abuse

limit up tmrw

Posted by Witty > 2018-07-19 01:38 | Report Abuse

share buyback seem ended.

Posted by azhani > 2018-07-19 10:11 | Report Abuse

do comeback

Posted by Hope88 > 2018-07-19 10:12 | Report Abuse

today T4

Posted by Ron90 > 2018-07-19 10:15 | Report Abuse

dont missed the train..

Posted by nekosan > 2018-07-19 11:28 | Report Abuse

ya dont miss the train to holland lol

Posted by Ron90 > 2018-07-19 11:52 | Report Abuse

ya.. real Holland :-)

Posted by nekosan > 2018-07-19 12:20 | Report Abuse

Strong sink construction

Posted by princesam > 2018-07-19 13:28 | Report Abuse

rr88 is back

Posted by nekosan > 2018-07-19 13:49 | Report Abuse

gkent no do hsr fyi

Posted by ray1980 > 2018-07-19 14:02 | Report Abuse

nekosan,but got ECRL project!

Posted by azhani > 2018-07-19 14:03 | Report Abuse

correct...mrcb , gamuda n ytl only do hsr if im not wrong

Posted by Maurice1688 > 2018-07-19 14:26 | Report Abuse

Gkent tendering hsr under assetco, please check news

Posted by Ron90 > 2018-07-19 15:04 | Report Abuse

everything is flying !!!..

Posted by azhani > 2018-07-19 15:06 | Report Abuse

continue fly after take time to rest

Posted by KM Chong > 2018-07-19 16:02 | Report Abuse

stuck... HSR news pls

Posted by Maurice1688 > 2018-07-19 16:03 | Report Abuse

once HSR is confirmed, trust me no one can get gkent below rm2 already

Posted by KM Chong > 2018-07-19 16:12 | Report Abuse

I believed HSR will be revised and it will be continued with modification terms.

Posted by KM Chong > 2018-07-19 16:13 | Report Abuse

why Gamuda is moving up?