THE financial year ending May 31, 2019 (FY19) has been relatively uneventful for Gadang, as it secured new orders amounting to RM136mil as compared to RM475mil in FY18.
The new orders comprised two Tun Razak Exchange (TRX) packages and a fire fighting facility for Rapid Pengerang.
The group’s outstanding construction order book stood at RM1.3bil compared to RM1.6bil a year ago.
The management highlighted that it has been focusing on completing existing jobs to ride out the period of uncertainty.
It is noteworthy that the upcoming completion of the Rapid contract is in June, where Gadang has submitted a variation order that could be recognised in the first half of FY20, if approved.
and will take up a 10% stake in the company for RM18mil.
The group views this as a strategic move as it allows both companies to leverage on each other’s strength to improve their chances in tenders.
Additionally, Gadang noted its interest in participating in the pre-qualification tender for the East Coast Rail Link, as well as tenders for further TRX, Rapid and hospital projects in order to replenish its construction order book.
As for its property division, Gadang’s unbilled sales stood at RM93mil as at Feb 2019, down from RM134mil last year, with only one new launch in Dec 2018 – Putra Perdana which has a gross development value of RM173mil.
Gadang has also revised the joint-venture terms for its Capital City project in Johor Bahru, where it is the landowner.
The revised terms, if approved, could see the company realising RM100mil worth of contra properties as balance payment for its revised RM250mil entitlement sum.
those already qualify in 2017 pre qualifying tender doesn't need to tender again as stated in the star newspaper last week.( Econpile also already qualify)
look at DWL chart, from 70 plus sen to RM2.00 and back to 70 plus sen in a month.....that's very impressive.....gadang is having paper loss now.....bad trader huh.....
On behalf of Gadang, TA Securities wishes to announce that the Board has on 28 May 2019 (“Price-fixing Date”) fixed the issue price for the 66,172,000 Placement Shares at RM0.77 each (“Issue Price”).
The Issue Price of RM0.77 is at a discount of approximately RM0.0569 or 6.88% to the 5-day volume weighted average market price of Gadang Shares up to and including 27 May 2019, being the last market day immediately preceding the Price-fixing Date, of RM0.8269 per Gadang Share.
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....
riskabsorber
582 posts
Posted by riskabsorber > 2019-05-10 09:17 | Report Abuse
Haha, I presume you are not buy at 66sen but is at 90sen. From contra kaki to hold long long kaki.