Remember now market cap is RM800 mil. once project siap around 2023 their market cap sure jump at least RM8bilion. their share price sure jump 10x is RM4.50++
at RM1.00 their market cap is around RM1.8 billion. Is that logic to think this 2nd biggest highway in Malaysia after PLUS just have RM1.8 bilion market cap?even RM3 bilion also still undervalued gila baby!
Shah800710, with full conversion of the RCPs and warrants arising from the right issue a couple years ago, total number of share will eventually be about 3.6 bil unit . At $1, the market capitalization is $3.6 bil. I agree that $3.6 bil is not expensive for WCE highway. Worth noting that WCE also own 40% in the 1,800 acres Rimbayu development spearhead by IJM lands which by itself also worth a lot of money.
Even during MCO the progress of construction is still on going..even better with less traffic on the road which normally will affect the speed of progress
this highway is going to officially open this June 2021 & start collecting tolls fees (just in time when mco 3.0 is about to over), which in return is their revenue is start to count in.
Results is much better than I expected. A loss of 1.2 sen is nothing while interest expense already kick in for the completed section and while the country is on MCO for the whole qtr .
IJM which has no controlling shareholders is truly a public companies owned by many institutional investors and funds . I think IJM’s mgt and BOD are incline to breakup the conglomerate and divest pcs by pcs to realized value for shareholders. First to go is plantation divestment. Follow by divesting the highways including WCE highway to a Trust . And Property and infrastructure unit to follow at much later stage … Just my view .
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
albertyek
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Posted by albertyek > 2021-04-06 14:52 | Report Abuse
buy buy buy