Well, at least the share prices didn't sky rocketed like IWCITY then came crashing down. Those entered early have a good safety margin. If this is coming from the director himself then unlikely will backfire. One example is news of Malton JV with EPF to secure Bandar Malaysia, only to have announcement from BOD saying they did not bid for it.
statement in NST news is about same as Sin Chew. WCT is bidding RM10bil project. However, in NST news, it didn't mention about the partnership with two China companies as highlighted in Sin Chew.
There are too many local infra contract awaiting for Wct, particularly, TRX and Bandar Malaysia infra work + related party contract worth RM 3 billion, a low hanging fruit for Wct to grab. News of award of contract is just a matter of time.
Based on AGM information, wct management already have hinted to team up with China company form JV company to work on big project, which i believe is East Coast Rail Line (ECRL) worth massive RM 55 billion.
Funding for the ECRL worth RM 55 billion has been secured, with 85 per cent of the project financed with soft loans from bejing. Therefore, it will be fast track project to kick start before upcoming general election call in order to benefit East coast voter. Wct team up with China state own company will likely act as project deliver partner or master contractor.
WCT Director in AGM stated “To ride on the increasing flow of local contracts awarded to Chinese contractors, WCT has partnered with two state-owned enterprise contractors which are eyeing on building and infrastructure jobs. In Malaysia, most likely only project funded by china state bank will be awarded to China state own contractor. However, for these to materialize, Malaysia gov will require China state contractor to team with local partner, in these case, the local partner is Wct. So, which local mega project is funded by china state bank ? Which project to be awarded to china state own contractor? The answer is obvious, right? Top likelihood is ECRL as funding alrdy in place.
In the interim time, tomorrow is Malton EGM to secure shareholder approval for RPT worth up to RM 2.0 billion. Malton Pavillion bukit jalil mall will be first target project to award to WCT.
Malton is a property developer.. WCT is a construction company... Malton boss owns WCT.. If Malton needs to build something, who else would they give it to?
Coldinvestor@ Wct contract rm1 bil in Qatar start work dy?if this is the case, sure big loses. I read news saying most construction project affected.. so bad luck .. RMbil..
WCT Director in AGM stated “To ride on the increasing flow of local contracts awarded to Chinese contractors, WCT has partnered with two state-owned enterprise contractors which are eyeing on building and infrastructure jobs.
Q1: Guess whose is these two state-owned enterprise contractors ???? A1. CCCC = china communication construction corp A2. CRCC - china railway construction corp A3. CREC - china railway engineering corp
Q2: Guess what is infra job ???? A1: East coast railway line (ECRL) A2: Gemas - Johor baharu double track line
Q3: Guess what is contract value ???? A1: East coast railway line (ECRL) - RM 55 billion A2: Gemas - Johor baharu double track line - RM 8 billion
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....
Nigel Low
1,463 posts
Posted by Nigel Low > 2017-06-02 11:53 | Report Abuse
@martin, do you have the link to news reported?