Now it's a period of consolation. It is normal after the upside. Many counters are correcting. The uptrend is still intact. May see an upside again after 1st week of March. Ignore the sour grades, they are just jealous about others making money as they were losing like mad.
was itchy wanted to buy just now, luckily i didnt touch. That Ak Nathan need to be grilled for misleading investors that the worst was over after previous quarter results!!
all these construction companies with oversea investment.... cannot trust. This could be just a begining of -ve QR resutls. Look at Mudajaya.... more surprise losses and impairment waiting in future QR.
@calvin882... this is due to Trump policy tonight. If he made some amazing policy which trigger some countries, it may create a domino effect and crash the market which already on a high
sold all at 0.715 last few week due to daily n weekly chart in overbought area.
Just for your information,
big loss from oil n gas sector: 1. higher costs resulting from delays in project funding 2. low utilisation of fabrication factory 3. penalty and storage charges of machineries procurement 4. weak currency coupled with exceptionally 5. slow recovery of the Oil and Gas industry
Other: 1. Delay in commencement of major key projects 2. Allowance for doubtful debt 63.4 million
personally think that this stock going to gap down in this afternoon. just my opinion.
@calvin882.. it depends. Malaysia has under go some correction. But not US market. Nobody can predict what policy will be implemented. It could start another rally. It could crash the market. Wait till tmr.
However, Eversendai said it was unperturbed by this and has already drawn plans to turn around the situation in early 2017.
“This is the first year the company is recording a loss owing to both internal and external factors. The group has since identified all shortfalls, re-strategised and aligned towards moving out of the losses incurred during the financial year of 2016 with progressive profits projected from the first quarter of 2017 onwards.
“With over 45 ongoing projects in UAE, Saudi Arabia, Qatar, Kuwait, Thailand, India, Singapore and Malaysia along with an impressive number of newly secured projects coupled by an experienced and committed team and skilled workforce , we are sure to step out of this phase in early 2017,” chairman and group managing director Tan Sri AK Nathan said in a separate statement.
To-date the group has secured projects worth RM801.4mil for the year 2017, of which RM117.4mil is from the oil and gas sector, bringing Eversendai’s order book to about RM3bil.
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....
lloydlim
3,970 posts
Posted by lloydlim > 2017-02-28 11:44 | Report Abuse
Not a good timing to catch falling knife, better stay away from this type of free fall.