"Most of my critics have behavioural problems. Some are very egotistic and they like to criticise me just to show how clever they are. They must honestly examine their track record to see why they are still so poor. They must change their method of selecting shares to buy or sell. Moreover, they must be able to control their emotion of fear and greed to know when to sell or when to buy. I can see that they are so stupid to write to tell readers to sell Eversendai at 70 sen per share. Why did not tell reader to sell when it was selling at Rm 1.40 per share"
Blog: Banging on Eversendai: Risk and Return kcchongnz
Sep 12, 2017 09:06 PM | Report Abuse
Like all red chips, I just want to bring home one point. i.e. I don't trust the owner. Regardless what other people want to say, I always remind myself if I don't trust the Director, I will stay away from that counter.
Remember what analysts told you about Linear Corp when it announced to the whole world it got Dinding District Cooling Tower project worth RM 1000 million (1 Billion)?
Remember Masterskill? What happened now?
There are many many similar example. If Directors not credible, your hard-earned money will go down the drain. To invest in any counter, first and foremost look at who are the owners/ Directors. Certain characters you should by all means......AVOID. There are thousand and one other counters to look at..............
"I can see that they are so stupid to write to tell readers to sell Eversendai at 70 sen per share. Why did not tell reader to sell when it was selling at Rm 1.40 per share"
The above statement was clearly directed at KC.
You can deduce that the oldman was provoked by KC to react.
React he did by dumping in more cash to push up the share price to prove KC wrong.
many of kyy articles are heavily glazed with opinions. very less factual content. when someone share something, pls ask yourself if it is an opinion or a fact... thats what Rich Dad said.
an example of an opinion... "Among thousands of contractors who have been constructing all the properties in Malaysia, I have not seen another company which has the same construction technology as Eversendai has".
I suspect those invited professional analysts to the site visit who wrote articles on Eversendai with a target price of 74 sen per share are buying aggressively. The daily traded volume has increased tremendously. Just for today, the current volume exceeds 10 million shares. Which individual has so much of money to buy so many shares?
The price has gone up from 70 sen to 97 sen. 99 sen was the highest done for today which is an increase of 29 sen. 29 divided by 70 = 70%. The up-trending chart is very encouraging. It indicates strong buying.
What happens to those who have encouraged people to sell at 70 sen?
Ha ha ha, I am laughing all the way to my bank Koon Yew Yin
I am sorry that I made a mistake in calculating my average cost per share in my previous article “Is Xingquan a good bet?”.
As you know its price has been falling quite rapidly ever since the company was listed. I started buying it in 2010 when the price fell below Rm 1.00. Its 2010 annual account shows that I had a total of 17,005 million shares. I think my average price is about 70 sen per share.
(1) My cost is 17.005 X 0.70 = Rm 11.9 million and the price is falling rapidly ever since my purchase.
As you know, Xingquan has been selling around 10- 12 sen per share for a long time and I bought 19.4 million shares at an average cost of 11 sen per share.
(2) My total cost is 19.4 X 0.11 = Rm 2,13 million.
When SC gave notice of suspension, its price plunged to trade between 2-5 sen per share and I bought 50.5 million shares, almost all the shares traded during those few days.
(3) My total cost is 50,5 X .035 = Rm 1.77 million.
The total of (1) + (2) + (3) totalling 86.9 million shares costing Rm 15.8 million
My average cost is Rm 15.8 divided by 86.9 = 18 sen per share
But again today in yr today's post yr average cost becomes 6.85 cents again....
Posted by yewyin33 > Mar 30, 2018 03:53 PM | Report Abuse
I suspect those invited professional analysts to the site visit who wrote articles on Eversendai with a target price of 74 sen per share are buying aggressively. The daily traded volume has increased tremendously. Just for today, the current volume exceeds 10 million shares. Which individual has so much of money to buy so many shares?
The price has gone up from 70 sen to 97 sen. 99 sen was the highest done for today which is an increase of 29 sen. 29 divided by 70 = 70%. The up-trending chart is very encouraging. It indicates strong buying.
29/ 70 = 41%...not 70%..
Bsides, yr average cost in Xinquan is 18 cents not 6.85 cents..
Stupid to believe that one man can make such impact on stock price. I have been holding this stock before KYY's participation. Have made good money from the volatility of price movement. Key is patience, knowing the levels and sentiment.
The Middle East is not easy to tame. People from the region may be known for their extravagance when it comes to exhibiting their wealth, but they are also not that easily appeased.
Meeting their demands, if you’re not accustomed to their culture and norms, can be daunting, but if you manage to win their hearts, you will be rewarded handsomely, especially if you are one of the parties vying to be part of their various infrastructure and iconic projects.
Certain Malaysian companies have somehow managed to do just that, to please the Arabs with their work and capabilities to meet all the demands.
These companies, however, seem to be happier running their business below the radar, working quietly while amassing trust among the Arabs, which also translates to a considerable profit margin.
Eversendai Eversendai is able to digest large and complex projects which need heavy engineering and extreme planning…that is where we excel, says Nathan (Pic: TMRpic)
One of them is Eversendai Corp Bhd. Led by Tan Sri AK Nathan, Eversendai has been involved in various iconic skyscrapers, stadiums, airports, industrial and residential structures, as well as shopping malls that are sprawled all over the Middle East.
Nathan and Eversendai first landed in Dubai in 1995 seeking business opportunities in the United Arab Emirates (UAE), which was then mainly known for its harsh rug- ged landscape, desert and, yes, camel rides.
“I came to Dubai carrying a suitcase in 1995 and got my first project in 1996,” Nathan said matter-of-factly during a media visit to Eversendai’s steel fabrication yard in Hamriyah, Dubai.
The company’s first project happens to be the Burj Al-Arab, now touted to be the world’s most luxurious hotel where visitors have to buy tickets to view it.
The company did not stop there. Some 23 years later, Eversendai have managed to complete 115 iconic projects throughout the Middle East as a steel fabricator and turnkey contractor.
Getting busier in the region also led to the Eversendai listing on Bursa Malaysia main Market.
The company now has 25 active projects in the Middle East, currently being served by its four fabrication yards in the region.
As a steel contractor who has seen the immense developments in UAE, Qatar, Saudi Arabia and Kuwait for over two decades, Nathan can attest that the countries have more to offer.
He said Eversendai is anticipating more steel fabrication and construction jobs in the region, for at least a decade more.
“I see more and more projects coming onboard for Eversendai as Middle East countries continue to spend more on infrastructure developments,” the 62-year-old tycoon said.
Nathan said the huge demand will require Eversendai to utilise yards outside the Middle East, or even sub-contracting some minor works to others.
“We can use our yards in Thailand, Malaysia and India to serve the growing demand in the Middle East,” he said.
Eversendai’s vast experience in handling the complex structures and iconic projects, has left the company with an advantage — of having almost no competition.
“Yes, anyone can do steel work. But if one looks at specialist steel works involving complex structures, I don’t think there is anyone close to Eversendai,” Nathan said with pride.
Eversendai’s localised presence in the Middle East also gives the company an advantage over the others.
“Eversendai’s brand has been well established in the region with all positive appraisals by previous clients.
“Besides that, Eversendai is localised in the Middle East and is able to digest large and complex projects which need heavy engineering and extreme planning…that is where we excel,” he added.
Nathan, however, conceded that gross margins are affected in recent years as more Chinese firms make their way into the Middle East market.
Eversendai’s strong brand presence and indisputable experience have, however, managed to keep the company above its Chinese competitors.
Nathan said people in the Middle East are also known for their principles of not compromising quality over cost, which is another plus point to Eversendai.
“They don’t hesitate to spend more money if they can get better quality and timely completion,” he said.
To ensure that Eversendai is positioned well in the region, the company also compromises on its profit margins on potential projects. The average gross margin estimated by Eversendai is 10%.
As such, most projects that offer margins below 10% will not be accepted by the company.
In a complex infrastructure project, Nathan said the gross margin can go up to between 30% and 40%.
“We don’t agree to anything because we want to be part of a project. Sometimes margins will be more than 10%, or sometimes lower — but within our tolerance level. Anything below, we will walk out,” he said.
Nathan said there were also cases of main contractors opting for other steel fabricators and contractors that ended up coming back to Eversendai.
Nathan cited Dubai I — the world’s tallest Ferris wheel in the making — as an example.
The project was initially awarded to a competitor by the developer, only to come back to Eversendai two years later.
Dubai I, which involves about 6,000 metric tonnes (MT) of steel, is now in the final phase of commencement, with Eversendai’s portion fully completed.
A 15,000MT steel project to construct a complex connecting bridge in One Za’abeel — a high rise office twin towers — also came back to Eversendai two months after the earlier con- tractor failed to deliver.
“We usually lose a job only because of price and not due to our track record. We lose a job for price differences of between 3% and 10%.”
Eversendai currently has 15,000 employees in seven fabrication yards worldwide.
The firm now has 15 offices globally, including in the UK and Australia.
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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....
qqq3
13,202 posts
Posted by qqq3 > 2018-03-30 11:31 | Report Abuse
some times, to win big, you need to believe and trust....
Believe and trust...2018 is the year of Sendai.......