That is right....Sendai is a genuine make in Malaysia MNC Malaysians should be proud of. Somebody should write a good biography of this Tan Sri.
Based on company records, the improvements in job orders and revenue started in 2015 but unfortunately the turnaround is delayed two years due to huge impairments in 2015/ 2016
2017 is the year of true turnaround for this company.
For the benefit of those who is wondering what happened during Thu afternoon AGM. [I must qualify myself that what I say is my personal opinion and your decision to buy or sell is at your own risk] The meeting went smoothly in a smallish Istana hotel venue as there were not many shareholders attending. Tan Sri said it had been a very painful couple of years for him, which I replied was the same for us shareholders. He believes that the worst is behind as most of the possible losses have been written off. Q1 just reported is in the black and he thinks that Q2 (and onwards) should be better. The video presentation of the jobs won was rather impressive. It included the part showing the offloading of Liftboat No1 into the sea. More work is being done after that and hopefully we get payment by Oct which I believe will reduce the gearing of the company. The star at the AGM was none other than Mr Koon. He was very vocal during the AGM and he reminded Tan Sri that the boss of the company is the shareholders. Mr Koon (being previously in the construction industry) stressed the importance of a good margin otherwise all the jobs won are meaningless. Mr Koon even took the opportunity to give shareholders a short investment talk during the tea break-break. Tan Sri was very humble (which I thought compared to other CEOs at other AGM). He joined us, Mr Koon and other shareholders and we talked while we eat. Mr Koon (if you are reading this) I thank you for making this AGM very memorable. You have given us a new confidence. I personally will not be going to sell my shares and I think I will enjoy the ride with you. Thank you again.
Abang_misai, Calvin is car salesman wanna be sifu in Bursa. His 224th ranking tell us how 'good' he is. His comments no need to take it so seriously. Sing song Sendai from 0.51 to 0.965 now. His Binapui from 0.485 to 0.425 now. Obviously he is not for Malaysia market.
SEE Sendai Quarterly Report just released recently
EVERSENDAI CORPORATION BERHAD (614060-A) (Incorporated in Malaysia)
Page | 14 6. Segment Information (Cont’d)
The steel fabrication and erection for building and infrastructure construction businesses in the MiddleEast region continued to contribute a lion share of the Group’s revenue of 58.3% and pre-tax profit of RM19.4 million in the current financial period-to-date.
(LION SHARE OF SENDAI'S REVENUE OF 58.3% COMES FROM THE MIDDLE EAST. NOW IN DEEP TROUBLE!!)
The operations in Malaysia had contributed 13.4% to the Group’s revenue. The increase in revenue from RM 43.1 million in preceding year’s corresponding quarter compare to current quarter of RM53.0 million mainly due to key projects were at commencement stage in the preceding year’s corresponding quarter.
(ONLY 13.4% REVENUE FROM MALAYSIA)
The revenue from operations in India of RM48.5 million with a contribution of 12.3% to the Group revenue during the current quarter is consistent with the revenue of RM45.7 million recorded in the preceding year’s corresponding quarter.
(12.3% REVENUE FROM INDIA? MUDAJAYA GOT INTO PROBLEM IN INDIA! SENDAI MIGHT BE NEXT!)
The oil and gas business contributed to 13.7% of the Group’s revenue in the current quarter as compared to 26.2% recorded in preceding year’s corresponding quarter. The losses of RM4.7 million during the current financial quarter mainly due to low utilization of fabrication plant of the oil and gas industries.
(13.7% FROM OIL & GAS? Many O & G are also in deep trouble)
MIDEAST STOCKS-Qatar, GCC markets set to drop as ties severed
June 05, 2017, 01:21:00 AM EDT By Reuters
By Celine AswadDUBAI, June 5 (Reuters) - Stock markets in Qatar and the rest of the six-nation Gulf Cooperation Council look set to drop on Monday after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed ties with Doha, accusing it of supporting terrorism.
Saudi Arabia said it had severed all land, sea and air contacts with Qatar. Abu Dhabi'sEtihad Airways said it would suspend flights from Tuesday. Saudi Arabia, the UAE and Bahrain gave Qatari visitors and residents two weeks to leave their borders.
With an estimated $335 billion of assets in its sovereign wealth fund, a trade surplus of $2.7 billion in April alone and extensive port facilities, Qatar appears likely to be able to ride out the impact without any economic crisis.
The GCC states do little merchandise trade with each other, instead relying on imports from outside the region, and Qatar's liquefied natural gas shipments by sea are expected to continue normally. GCC investments in Qatar's stock market are believed to be minor.
Nevertheless, the diplomatic rift - the worst in years - is expected to have a considerable impact on investor sentiment, outside Qatar as well as within the country.
"All GCC markets will fall today - this is unprecedented and we are entering unknown territory. This is not good news for the markets," said a Dubai-based portfolio manager.
"The markets have been quiet in search of a catalyst, and this is it...There will be a lot of exiting today."
After Saudi Arabia, the UAE and Bahrain withdrew their ambassadors from Qatar in March 2014, the Qatari stock market immediately tumbled 2.3 percent and remained weak for about three weeks, before rebounding strongly as Qatar entered MSCI's emerging market index.
Some fund managers said Qatari banks could be hardest hit. "Qatari banks that are exposed to those countries that have severed ties with it will be very vulnerable, and vice versa - companies that have borrowed from Qatari banks may have to figure out how to negotiate loans and deals," said a Doha-based asset manager.
Also, some Qatari banks have been borrowing from overseas to offset tight liquidity in the domestic money market; they may now find it more expensive to borrow.
(Editing by Andrew Torchia) ((celine.aswad@thomsonreuters.com)(+9715 62247653)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))
FYi. In April 2014, Saudi call back their ambassadors from Qatar, due to same reason today..8 month later,in Nov 2014, they return their ambassadors back...
and fyi, qatar also have US army base.
saudi just want to pressure qatar to pullout thier support to iran..
Don't exaggerate about Qatar Calvin. We know you like Sendai gowing down very much. The middle east is a mess already for many many years but it is not true that there is war everywhere and Qatar is only a tiny part of the huge middle east. Diplomatic 'war' is not the same as bombing with physical destruction
To Sendai & KYY it is the best time to push up higher of the share price as not many dare to buy now. Public or bilis will sell as worry and scare of Qatar tension but the floating shares are less. Big boys and KYY already control > 85%. They may push up to one stable price and wait for next good news to announce and then the price will go up further by the sentiment and they can easily reduce their holding by then.
Projek di qatar ada 3 sahaja, dan kebanyakan dah nak siap, bahan untuk projek di qatar diperolehi dari fabrication di qatar, tidak ambil dari luar qatar, AK pernah maklum bahawa dia simpan stok tinggi untuk tampung semua projek sedia ada dan akan datang, kerana harga besi sedang murah dan bagi jamin kestabilan bila berlaku sebarang kemungkinan.
Tak perlu khuathir besi tak cukup, china dan india bila2 bersedia bekalkan.
Dibawah adalah kontrak terbaru sendai. Projek dari qatar tidak besar.
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....
Heng Kee
52 posts
Posted by Heng Kee > 2017-05-27 16:56 | Report Abuse
Wow! Rm1.50 at years' end? .....still more upside to go then... Better Hold tight2... Might buy more if price fall below 93 sen...