Posted by value_invest > 2016-11-22 09:55 | Report Abuse

This round is so called "bad news" is last time to collect...

Posted by Muarmali > 2016-11-22 09:57 | Report Abuse

many accounting term are misleading for example, "asset monetisation"

it means disposal of assets but again whether the transaction is making profit or loss, it's not related to this term.

to a slightly educated investor like myself, i think half of the monetisation exercise are loss making transaction especially in a company which the founders have monetised their investment big time. deserted the company they built with their blood and swear.

so, it is clearly a case of not only a pinch of salt but dew spoon of salt.

Posted by value_invest > 2016-11-22 10:01 | Report Abuse

Market is dynamic...Same stock, Different investors analysis differently.. Those investors without confident should sell fast after Desmond lim bought over.. Those who are confident should take this opportunity to buy.... Rated strong BUY...

Posted by value_invest > 2016-11-22 10:04 | Report Abuse

most basic investment principle: Fundamental.. + Deep value.... Pls do ur own research and make ur judgement...

Posted by Muarmali > 2016-11-22 10:52 | Report Abuse

sometimes some smart ass call it catching the falling knife for buying shares when the shares price is still moving downward and hoping to buy at the bottom price.

different analyst have different view. i call it catching the cow dung. it's a shit. but it may encourage organic growth when a seed fall into that cow dung. but again when the seed will fall is a guess that not better yours and mine.

Posted by char1234 > 2016-11-22 12:18 | Report Abuse

Interesting.....down steeply n rebounding to unchanged.Afternoon session cld be up and up.....

Posted by value_invest > 2016-11-22 13:06 | Report Abuse

There is no right or wrong here, Everyone make own judgement in making investment decision... Again, those think it is negative for WCT should sell fast.. Personally, i have called it a strong buy on weakness every weakness, in the morning.. There are "players" waiting to buy on weakness...... Basic investment principle: Fundamental.. + Deep value+ money flow.. U will not get wrong when follow the principle... Based on the extensive research on WCT. Maintain BUY...

Posted by coolinvestor > 2016-11-22 14:53 | Report Abuse

i still like wct as they have many project still. look at the mammoth project in oug...whoa. everyday i pass it.

seeing $$$$$ hahaha

Posted by value_invest > 2016-11-22 16:10 | Report Abuse

Today’s briefing shall seek more clarity on its strategic direction going forwards as brought by its new major shareholder...

Posted by char1234 > 2016-11-22 16:20 | Report Abuse

weaker n weaker. ..n bad p n l.yet investor bought at such a high price.a mystery. .

Posted by value_invest > 2016-11-22 16:24 | Report Abuse

GOOD analyst meeting briefed by management... POSITIVE ...

Posted by char1234 > 2016-11-22 16:30 | Report Abuse

how do u know ?

Posted by char1234 > 2016-11-22 16:31 | Report Abuse

new investor will hv to make himself good so that he dont look stupid.Now...why dont d share show the actual worth ? Patience ?

Posted by value_invest > 2016-11-22 16:37 | Report Abuse

Do ur research and attend the briefing by the new management... POSITIVE>>>

Posted by spermwhale > 2016-11-22 16:59 | Report Abuse

This is the time to unlock the value of the company. If not for this, it will a value trap.

Posted by value_invest > 2016-11-22 17:06 | Report Abuse

http://research.itradecimb.com/index.php?ch=5013&pg=5014&ac=92872&bb=file

Posted by value_invest > 2016-11-22 17:08 | Report Abuse

CIMB UPGRADED WCT with the current QR... The big banker handling the corporate deal know what is coming ahead on the restructuring plan.. Today's analyst is very positive..

Posted by martinbartesque > 2016-11-22 17:16 | Report Abuse

Value, need user name and password to log in. Pls copy d document

Posted by value_invest > 2016-11-22 17:22 | Report Abuse

cant copy.. refer to CIMB research....

Posted by Huat1 > 2016-11-22 18:03 | Report Abuse

WCT Holdings
No breakout in infra margins, for now

■ 9M16 core net profit made up 83% of our and 79% of Bloomberg consensus full year forecasts.
■ We deem the results to be broadly in line; lower tax rates and higher infra margin to underpin a stronger 4Q16.
■ Order book at a new high of RM5.2bn following the recent MRT 2 win.
■ Expect more guidance on asset monetisation moves in tomorrow’s briefing.
■ Job wins and clarity of future strategies from new shareholder are key potential rerating catalysts.

9M16 results hit by higher tax rates; broadly in line
9M16 core net profit made up 83% of our and 79% of Bloomberg consensus full-year forecasts. We consider the performance as broadly in line as we expect tax rates to normalise in 4Q16 (higher tax rates in 9M16 due to tax under-provision) and infra margins to improve in line with stronger progress billings. 9M16 construction EBIT margin of 2% could have been higher if not for the forex loss relating to jobs in Qatar and slower billings for new infra jobs in 9M16. No dividends were declared in 3Q16.

Order book at new high with recent MRT win
WCT's recent job win worth RM896.4m for MRT 2 viaduct package V204 represents the group's first big MRT win. The contract value bumps up its outstanding RM4.3bn order book by 21% to RM5.2bn. Including the earlier awarded Pan Borneo Sarawak contract, total wins YTD (based on JV share) amount to c.RM1.4bn, within our assumption of RM1.5bn for FY16F. Based on a 5% pretax margin, package V204 should contribute
RM11m p.a. over four years.

Infra tenders still have momentum
We expect WCT’s tender book to remain focused on infra projects. We estimate the total value of jobs it is tendering to be at RM2.5bn-3bn, including 1) two packages for West Coast Expressway (WCE), 2) an infra package for Petronas’s refinery and petrochemical integrated development (RAPID), 3) a road package for Tun Razak Exchange (TRX),
and 4) at least one package for LRT 3 (Bandar Utama-Klang). Apart from this new MRT contract, WCT is also vying for the upcoming Pan Borneo Sabah project.

Selling 70% of The Accent to EPF for RM243m
WCT recently proposed to divest its 70% stake in The Accent, an office space component within The Paradigm in Kelana Jaya, for RM243m. This values the entire building at RM347m. The asset is owned by Jelas Puri, in which WCT currently holds a 70% stake, while Employees Provident Fund (EPF) controls the balance 30%. The S&P agreement for the stake will be wrapped up in 1Q17. We expect more details on the quantum of potential net gain or loss from the disposal in tomorrow's results briefing.

Focus on construction outlook and new major shareholder
We maintain our FY16-18 EPS forecasts and target price (still pegged to a 30% RNAV discount). Given the sustained weakness in the property market, the construction outlook and likely positives from new major shareholders will be the key focus in the medium term. Potential catalysts include jobs wins, asset monetisation via REIT, and more clarity on future strategies from the new shareholder. Key downside risk to our call is job delays. Add retained.

Posted by darrenliew > 2016-11-23 08:36 | Report Abuse

WCT’s 9M16 core net profit of RM73.9m came in below our expectation, making up 64% of FY16 net profit.
Net gearing increased to 0.9x
We retain our forecasts and recommendation pending management guidance and analyst briefing to be held later today
HOLD rating with an unchanged TP of RM1.68. Quarterly numbers fell but improved on yearly basis.

ABOVE ARE SOME COMMENTS FROM ANALYSTS
=========================================
EXCESSIVELY HIGH BORROWINGS WITH GEARING AT 9x is a big concern.
Need to undertake a degearing exercise which could take some years to achieve

Posted by darrenliew > 2016-11-23 08:41 | Report Abuse

IT ACTUALLY TOOK TROPICANA 3 TO 4 YEARS TO REDUCE ITS GEARING FROM 7.7x to its present < 3x which is safe and comfortable and which must be the gearing level to be aimed for by WCT

Posted by char1234 > 2016-11-23 10:13 | Report Abuse

Buyer bought at 2.50 to become major share holder. On the surface he look stupid now, But he will gain from the stk market from those who bought high....he just push it to very very low. After all is done, he may consider pushing it up again.......Again business is confusing....

Posted by darrenliew > 2016-11-23 10:32 | Report Abuse

IN LARGE SCALE BUSINESS OPERATIONS, ESPECIALLY WITH SOME FOREIGN/INTERNATIONAL CONTRACTS, 2 CRITICAL FACTORS TO CONSIDER ARE
(A) ANY HIGH BORROWINGS/GEARINGS IN PARTICULAR IF GOT BIG FOREIGN CURRENCY DENOMINATED LOANS
(B) OUR FOREIGN EXCHANGE RM/USD LOANS EXPOSURES

IF THE ABOVE ARE BIG, THEN EVEN MORE CONCERNS BCOS WHEN OUR RINGGIT GOES DOWN A LOT (HAPPENING NOW)THEN SUCH FOREIGN LOANS WILL JUST BLOW UP IN RINGGIT VALUES AND THE BORROWING COMPANIES WILL BE HIT BADLY.

MEANWHILE EXCESSIVELY HIGH BORROWINGS WILL CONTINUE TO DEPRESS YOUR BUSINESS MARGINS = HIGH BANK INTEREST COSTS = TO LOW PROFITABILITY

Posted by hng33 > 2016-11-23 11:39 | Report Abuse

monitor closely on WCT-WD for opptunity to re-enter back on weakness

Posted by hng33 > 2016-11-23 12:02 | Report Abuse

WCT free fall, but, surprisingly wct-wd still holding well!! need wait longer for right price to re-enter back

Posted by sonicleong > 2016-11-23 12:25 | Report Abuse

rebounding

Posted by wongchin > 2016-11-23 12:54 | Report Abuse

Going down to the toilet bowl

Posted by hng33 > 2016-11-23 13:29 | Report Abuse

alrdy re-enter wct-wd first batch at 26sen

Posted by coolinvestor > 2016-11-23 13:54 | Report Abuse

good choice looks like it bottomed dy

Posted by sonicleong > 2016-11-23 13:57 | Report Abuse

hopefully

Posted by hng33 > 2016-11-23 15:01 | Report Abuse

accumulated more wct-wd at 25 and 26sen

Posted by hng33 > 2016-11-23 15:07 | Report Abuse

grab more at 25.5sen

Posted by hng33 > 2016-11-23 15:13 | Report Abuse

WCT share price set to rebound, wct-wd will follow soon :D)

Posted by hng33 > 2016-11-23 16:05 | Report Abuse

sold back partial wct-wd at 26.5sen, lock fast contra profit frist

Posted by Muarmali > 2016-11-23 16:11 | Report Abuse

So, is it catching falling knife or cow dung?

Posted by char1234 > 2016-11-23 16:11 | Report Abuse

u are a hero for this counter that is heavily manupulated.......good luck to u

Posted by hng33 > 2016-11-23 16:23 | Report Abuse

Grab back more wct-wd at 26sen

Posted by hng33 > 2016-11-23 16:31 | Report Abuse

Bought last batch of wct-wd at 25.5sen

Posted by coolinvestor > 2016-11-23 19:04 | Report Abuse

manipulated? i tot all stocks in the world be can manipulated if wanted to be...lol

Posted by power96 > 2016-11-23 21:08 | Report Abuse

Just wonder why DL bought at such price. Even analyst found nothing excitement

Posted by hng33 > 2016-11-23 22:20 | Report Abuse

...马顿执行主席丹斯里林晓春缺席本届股东大会，大会由其弟弟，即董事经理林晓辉（音译）、副主席兼独立非执行董事圭多保罗及执行董事蔡天德（音译）主持。

林晓春將在明年1月转为马顿非执行主席，以便更积极参与新购入的WCT控股（WCT，9679，主板建筑股）。

Posted by char1234 > 2016-11-24 01:28 | Report Abuse

true all shares can be manupulated but this case not in favour of investors. They kill investors.Better to stay with POS. I never lost in that share before....

Posted by char1234 > 2016-11-24 08:51 | Report Abuse

it goes to show the management's integrity.Long term or short term....they dont hv u at the heart unlike other QUALITY companies...

Posted by paperplane2016 > 2016-11-24 14:31 | Report Abuse

http://klse.i3investor.com/blogs/hleresearch/109805.jsp

Posted by paperplane2016 > 2016-11-24 14:31 | Report Abuse

injection into PAVreits

Posted by voon1900 > 2016-11-24 14:37 | Report Abuse

in wd 23.5sen

Posted by Cheah5555 > 2016-11-24 15:25 | Report Abuse

Hi Hng33, seeing u active in WCT, downtrend ? What's your opinion ? Rgds,

Posted by Why_ > 2016-11-24 15:55 | Report Abuse

Reading Star today implying Desmond Lim is stupid to buy at RM 2.5. Why is he?

Posted by voon1900 > 2016-11-24 16:27 | Report Abuse

out 24sen n reap fast profit.