Posted by uptrending > 2020-01-06 17:03 | Report Abuse

If MF take over and cut PLUS toll rate by 18% as disclosed in last Budget Speech, sentiment will be - ve for wce.

Chartwise it is a double tops at 41.5 and 40 cent..

Posted by monetary > 2020-01-06 17:46 | Report Abuse

Hi folks. Base on choivo DCF valuation the adjusted TP for each IRR after capital changes is as the following.
8% 0.775
9% 0.865
10% 0.965
11% 1.05
He assumed 300mil cash call but exact amt is 669mil assuming all rcps converted.

After 18% discount

IRR 8% 0.635
IRR 9% 0.71
IRR 10% 0.79

Posted by uptrending > 2020-01-06 19:24 | Report Abuse

Cash call raised Rm480 millions, PA upon full conversion will raise another 80 million..

Total Project cost is RM6. 69 billion

Posted by Pcmont123 > 2020-01-06 19:36 | Report Abuse

Then this counter going where? Holland???

Posted by uptrending > 2020-01-06 20:21 | Report Abuse

Total borrowings approved RM4. 74 B
If follow 20:80 equity to debt financing, total borrowing could fetch RM5. 352 B

Posted by uptrending > 2020-01-06 20:24 | Report Abuse

Upon full completion by 2022, it would be good. Mini Plus. Depend on government policy also.. See how PLUS unfolds this week...

Posted by monetary > 2020-01-06 20:25 | Report Abuse

total rcps 23.9mil x 0.28 (assuming full conversion) = 669mil. M I missing something?

Posted by monetary > 2020-01-06 20:27 | Report Abuse

don't forget oversubscribed by 19%

Posted by Daily8 > 2020-01-06 21:04 | Report Abuse

By year end of 2020, expect at least 78

Posted by paperplane > 2020-01-06 21:05 | Report Abuse

Aiyo.... So aggressive meh

Posted by Pcmont123 > 2020-01-06 21:15 | Report Abuse

0.78 or 1.78??????

Posted by Pcmont123 > 2020-01-06 21:15 | Report Abuse

Or 0.15????

Posted by uptrending > 2020-01-07 06:10 | Report Abuse

2,016,992,878 rcps was issued and raised rm484 million. Oversubscription money, mainly from the 3 major shareholders, was returned.

Posted by monetary > 2020-01-07 07:14 | Report Abuse

thanks for the information. less share. higher TP.

Posted by AlfI3 > 2020-01-07 07:45 | Report Abuse

So drastic diversion

Posted by Perakian > 2020-01-07 12:13 | Report Abuse

Nga Kor Ming we voted you in GE14 bec you promised WCE highway toll free. Now forget us after win?

Posted by uptrending > 2020-01-07 13:30 | Report Abuse

Section 8,toll free since 31st May 2019, Section 9 and 10, toll free since Sept 23rd and Section 5 toll free since Mid December..

It is not free to WCESB. Interest costs on loan drawn for the few Sections will be debited in the Income Statement as expenses in the coming QR.

Posted by monetary > 2020-01-07 13:55 | Report Abuse

basically it's big small bet now. toll or no toll. so which side has higher probability?

Posted by kingcobra > 2020-01-07 14:42 | Report Abuse

no matter who governs , be it BN or what-so-ever parties commonsense u have to pay tolls!

Posted by hohoho123 > 2020-01-07 15:27 | Report Abuse

No toll ?lol

Posted by Chun Loke Low > 2020-01-07 21:17 | Report Abuse

After paying so much for the construction of toll, you think government can simply say "oh, we want to abolish toll, so no toll BB" meh

Posted by Pcmont123 > 2020-01-07 21:47 | Report Abuse

Continue the toll lah.... Huat ah!!!!

Posted by zhm540 > 2020-01-08 10:28 | Report Abuse

someone is collecting at 35.5s... is the toll annoucement soon?

Posted by Pcmont123 > 2020-01-08 13:23 | Report Abuse

Yes going to below 0.25

Posted by Daily8 > 2020-01-08 17:04 | Report Abuse

Haha. Collect more if below 25 oh lol

Posted by nuTECH2018 > 2020-01-08 18:34 | Report Abuse

Chicken running after booming

Posted by monetary > 2020-01-08 18:44 | Report Abuse

wait for tonight TV news.

Posted by monetary > 2020-01-09 07:08 | Report Abuse

Left count right count also can't figure out how to make free toll. Why spend so much effort on mission impossible? The mission is to prosecute ah jib gor successfully. Then everything can back to how it used to b n PH can leave it's faith to the ppl in the next GE. Even they lose they have accomplished their mission.

Posted by hohoho123 > 2020-01-09 09:08 | Report Abuse

old news
KUALA LUMPUR (Nov 21): Toll rate along the West Coast Expressway (WCE) will be benchmarked against PLUS Malaysia Bhd's North-South Expressway's 13.96 sen per km to ensure the WCE toll rate is affordable for the public.

Deputy Works Minister Mohd Anuar Mohd Tahir said in Parliament today the government can negotiate with WCE's concessionaire to not increase the toll rate, possibly through extending the concession period.

Posted by TonsilBasher > 2020-01-09 16:57 | Report Abuse

Do you convert WCEHB-PA to mother share? what is conversion rate

Posted by monetary > 2020-01-09 20:15 | Report Abuse

postpone to 15th

Posted by shoppers > 2020-01-09 23:26 | Report Abuse

don't worry , if government have fund to buy over highways , the purchase price will be higher than current share price

Posted by Chun Loke Low > 2020-01-10 11:25 | Report Abuse

Fibonacci at a golden ratio 0.618. Bounce pls hahahaha

Posted by abang_misai > 2020-01-11 12:12 | Report Abuse

The worst for WCEHB is over. Toll collection submitted and will be approved soon, l

In high gear to complete 233km West Coast Expressway

https://www.thestar.com.my/business/business-news/2020/01/11/in-high-gear-to-complete-233km-west-coast-expressway

AMIDST all the hoopla surrounding the possible buyout of PLUS Malaysia Bhd, the other long stretching highway in Peninsular Malaysia has been making some notable progress.

While West Coast Expressway Holdings Bhd (WCE) has been perceived as having faced numerous delays and challenges with its land acquisitions, its CEO Datuk Neoh Soon Hiong says the company is in high gear to complete the 233km expressway connecting Banting in Selangor to Taiping in Perak.

The worst is over for us. The land acquisitions are about 95% completed and we have commenced construction works for Sections 7 and 11 – the last two sections, which is estimated to be completed by 2022, ” Neoh tells StarBizWeek.

Section 4 of the WCE is targeted to be opened by the first half of this year, followed by Sections 1,2, 3 and 6 in 2021, and lastly, Sections 7 and 11 in 2022.


To recap, WCE is a greenfield highway project with its 50-year concession agreement signed with the government in January 2013.

It runs parallel to PLUS’ North South Expressway (NSE), and is expected to offload some of the traffic from the NSE as well as provide connectivity to towns along the west coast.

Construction of the expressway commenced in 2014 and was initially slated for completion in 2019.

However, there were delays stemming from land acquisition proceedings and route realignment plans by the previous government.

WCE has just completed the second tranche of a rights issue that saw it raise a total of RM481.31mil

Its major shareholders IJM Corp Bhd, MWE Holdings Sdn Bhd and United Frontiers Holdings Ltd had all subscribed to their portions.

Neoh says that the funds raised from the rights issue, coupled with funds from the earlier government support loan (RM2.24bil), its syndicated term loan (RM1.5bil) and sukuk (RM1bil), in turn, puts WCE in a good position to complete construction of the highway.

Notably, there has been an increase in the project cost for WCE by RM750mil to RM6.69bil largely due to higher estimated land acquisition costs.

However, WCE chief financial officer Lyndon Alfred Felix explains that the company has embarked on wide-reaching project cost savings on actual construction costs. In addition, there have been renegotiations in court for the land acquisition compensations. All of these, he says, will offset the total cost overrun.

As a result, it is highly unlikely for WCE to have another cash call in the near future.

“We are able to bridge the gap in land acquisition cost overrun through recourse from legal cases – the cases completed so far have been successful, ” says Lyndon.

To recap, late last year, WCE completed its rights issue that entailed the offer of 2.005 billion new redeemable convertible preference shares (RCPS) at an issue price of 24 sen per RCPS, together with 501.368 million free warrants, on the basis of two RCPS for every one WCE share held on Oct 24, with one free warrant for every four RCPS subscribed for.

As for toll collections for the WCE highway, which are stipulated in the concession agreement, Neoh says the WCE has submitted documents seeking approval from the government to commence toll collection.

“We expect to receive approval soon.

“Toll collection shall commence with three sections that are already operational, ” says Neoh.

However, some sceptics reckon that the government may not approve the toll collections on WCE so soon, considering that this is a contention issue.

But assuming WCE receives the approval to collect toll charges following the rates stipulated in their concession agreement, another question is, will there be sufficient users? This is also considering that the parallel NSE is likely to see a reduction in toll charges soon.

WCE’s management reckon that their highway has compelling reasons why some users would opt for it.

For one, the WCE highway boasts more interchanges than other highways in Malaysia.

“We have provided 21 interchanges over the 233km stretch – that’s almost one interchange at every 10km. Highways are a catalyst for development, but it is a chicken and egg situation. If there isn’t a big enough development, highway owners are not compelled to connect to towns that are deemed too small.

“For us, it does not matter if the population is small, we will connect to anywhere along the WCE where there is a population. Even if there is no chicken (matured development or sizeable population), we will connect our highway and bring the egg there!” quips Neoh.

Secondly, note that there are two stretches on the WCE that are federal roads managed by the Works Ministry (JKR).

These two sections will be toll-free, meaning that a long haul journey that passes through these two sections will be cheaper compared to the NSE.

Posted by abang_misai > 2020-01-11 12:16 | Report Abuse

Sambung cerita di dalam the star hari ini

The signed off Contract Clause is sufficient to protect WCEHB from taken over by the government unless the PH donkeys wanted to pay hefty compensation which is unlikely to take place.


Thirdly, the four sections of the WCE opened so far have seen traffic volumes which are “more promising than expected”, says Neoh.

Traffic volumes are typically divided into two types – local daily commutes and long haul travel.

As the WCE has yet to be connected to the NSE, there is low heavy vehicle volume.

However, once the WCE is fully completed and is connected to the NSE, Neoh expects a higher volume of heavy vehicles.

This is due to the fact that the WCE is built on flat coastal land, which results in lower fuel consumption for heavy vehicles, Neoh explains.

Apart from that, the WCE would be a preferred expressway for heavy vehicles as it connects Port Klang and Lumut Port, he adds.

But that’s not all. If feasible, Neoh says the WCE alignment may even extend all the way to Penang, to make it a total port-to-port connection on the west coast.

Additionally, the group has the first right of refusal to develop Section 12 of the WCE, which runs from Siputeh to Segari in Perak that stretches 41km, with a construction cost of RM600mil.

Beyond the construction of the highway, WCE has lined out plans that provide the group with recurring income streams, which will keep the group busy throughout the concession period.

Apart from operating and maintaining (O&M) the expressway, the group will also own and operate the rest and service areas (RSAs) along the WCE.

To date, 12 locations with a land size of 10 acres have been identified as RSAs, where each location will house two petrol stations, making a total of 24 petrol stations.

Both segments, the O&M as well as the development and management of the RSAs, will be carried out on a joint venture basis with government-linked companies or respective state governments.

“We have since called for a tender for a petrol station in Sitiawan and we estimate the petrol station to be up and running a year from now, followed by Teluk Intan, ” says Neoh.

On whether WCE could be a target of the government’s plan to buy back highways, Neoh says that it is unlikely. This is given that the government seems to be focusing on completed highways, but nevertheless, there are sufficient clauses in the concession agreement that protects WCE if a situation for a takeover arises.

Posted by abang_misai > 2020-01-11 12:18 | Report Abuse

No wonder Datok CEO is buying recently.

Posted by Pcmont123 > 2020-01-11 13:40 | Report Abuse

Buy so few can do what

Posted by trader808 > 2020-01-11 17:30 | Report Abuse

CEO buying is a symbol and demonstration of confidence in the company. He has a tremendous sense of belongings. His action speaks volume and believe he will stay invested for longer term and for bigger things to come.

Posted by Pcmont123 > 2020-01-11 17:45 | Report Abuse

If buy 3.5mil all people will follow only 35k u think people sohai

Posted by monetary > 2020-01-11 18:13 | Report Abuse

stay tune. 4 more days.

Posted by trader808 > 2020-01-11 19:31 | Report Abuse

According to the Edge just 3 weeks ago on 17th Dec last year 33m shares traded off market in one transaction.
Who and why someone interested to buy such enormous amount.
The guy must have seen value in this company.

Posted by Pcmont123 > 2020-01-11 21:09 | Report Abuse

7285800 transacted that day.....

Posted by newbie911 > 2020-01-11 21:13 | Report Abuse

Why u think seller is stupid willing to sell such low price?

Posted by nuTECH2018 > 2020-01-11 22:28 | Report Abuse

Look like the fundamental not so good, director have to buy some share to attract people to buy while underground doing conversion and sell them off. Really need to be careful about what they doing. Many guru ask you to buying bcz they might trap at 0.40, therefore I ll wait at 0.321

Posted by nuTECH2018 > 2020-01-11 23:22 | Report Abuse

Buying is just another illusion to trap ppl into honey pot, if ppl keep selling, the boss shares become toilet paper...

Posted by Daily8 > 2020-01-11 23:40 | Report Abuse

IJM 26.45% stakeholder
Neoh Soon Hiong 0.116% of direct interest
Surin billionaire 25.58%
MWE HOLDINGS ( WAS ONCE WORTH 1.75 BUT NOW DELISTED)

Those who failed to see the value underlying in this company...

Posted by Daily8 > 2020-01-11 23:41 | Report Abuse

Price is def sold by a big shareholder in order to buy in even more later. One of the few tricks done by big shareholders to wash clean the contras.

Posted by 5354_ > 2020-01-12 05:14 | Report Abuse

CEO bought also drop. Toll house still cannot see how to make money?

Posted by 5354_ > 2020-01-12 05:17 | Report Abuse

Selling come from PA conversion?

nuTECH2018 Buying is just another illusion to trap ppl into honey pot, if ppl keep selling, the boss shares become toilet paper...
11/01/2020 11:22 PM

Posted by Pcmont123 > 2020-01-12 12:24 | Report Abuse

Going to drop below 5c