After mentioning no announcement update from Mudajaya management on power plants, Public invest maintains hold rating/same price target RM1. The target price assumes no earnings from power plants this year because of no clarity. It also mentioned about worry about MYR10m share of loss of associate (probably RKM says the analyst). I got some info 2 weeks ago from 1 of the engineers of RKM Powergen tru their facebook site as advised by 1 of the contributors to this forum. At the facebook site, the guys frens congratulated the RKM engineer on the COD for power plant 2 in facebook. Go to the RKM Powergen facebook site yourselves. When I asked, he replied that the power plants are ok (meaning 1 & 2 I guess) and added that generation of power will be within 1 to 2 months. Did not reply when asked further questions. Hope the management of Mudajaya will come out with announcement soon on status of power plants.
May the RM10mil loss from associate partial contributed by Mayfair Ventures, the JV with Thriven Global?As the development of Lumi Tropicana is on going, it may be the cost of property development. As they are currently using IC15 in account recognition, so the the sales will be recognized only when the project complete.
Somemore the acquisition of Tropicana land 1.5 years ago was funded by borrowing. Mayfair Ventures may temporary suffer losses due to interest expense and development cost before sales come in and Mudajaya is sharing 49% of it.
Chong ket pen of protasco once said mudajaya is nobody, he is much better. Lol lol lol. Chong who? Siphon money, set up and fixing people he knows lah. Take credit from his ex bosses who secured government contracts. Lame. Better buy mudajaya.
I don't know whether is good/bad to enter but I have entered at Rm1.10 yesterday. The net assets at Rm2.05/ share, all bad news has already been priced, it's surely undervalued now but just don't know when it will recover.
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....
Cherrie
183 posts
Posted by Cherrie > 2016-02-25 18:33 | Report Abuse
Flying into the sky