KUALA LUMPUR: Private equity firm Creador Sdn Bhd founder and chief executive officer (CEO) Brahmal Vasudevan has emerged as Gabungan AQRS Bhd’s substantial shareholder.
In a filing with Bursa Malaysia yesterday, Gabungan AQRS said Brahmal, on the same day, acquired an indirect stake of 178,700 shares, bringing his total shareholding in the property and construction player to 5.07% or 23.11 million shares.
After the transaction, Brahmal had 0.44 % direct and 4.63% indirect stakes in the company.
Gabungan AQRS shares fell over 50% immediately after the 14th general election (GE14) on concerns over the government’s plan to review mega infrastructure projects such as the East Coast Railway Link and the Pan Borneo Highway.
However, group CEO Datuk Azizan Jaafar had told The Edge Financial Daily that such projects were not in its books in the first place, adding that the group’s outstanding order book of RM2.7 billion will give it earnings visibility over three years.
According to Gabungan AQRS’ latest annual report, Azizan, via his private investment vehicle Ganjaran Gembira Sdn Bhd, was the largest shareholder in the company, with an 11.22% interest, as at March 16, 2018.
Gabungan AQRS shares have recovered since stumbling post-GE14. It closed five sen or 3.97% lower at RM1.21 yesterday, giving it a market capitalisation of RM553.59 million.
Customer: SMPP (Syarikat Muhibah Perniagaan Dan Pembinaan Sdn Bhd) Project Cost: RM60,220,859.97 (Est.) Contract: Build Toll Plaza Building and Motorcycle Lane Works Project Start: 25 June 2018 Project Complete: 24 February 2020 (Est.) Financial Effects: Q4 2018 until Q4 2020
down side will till 5 jul warrant stop trading date ..then, just see how high it can go soon ...wif HSR , ECRL not cancel but 'review' ..and this not the only project the company depend on ...so , low impact ..just see epf wanna push how high to recover their 6 billion losses since may 9 .
EPF cant just anyhow use our pension to jack index .. coz with foreign fund all pull out frm KLCI ..who they going to sell to in future ? ...lot EPF members now going to withdraw their money ... losing 6 billion is a huge failure since epf start to invest ..
6 Billion is peanut for EPF, there are many professional investors in EPF, they wont panic sell just because they "lost" 6 billion. they haven't really lost the 6 billion yet unless they really sell it all now.
6 billion is all hard earn money frm rakyat ...judging frm epf investment mostly link to umno stock ..the price might sure cant recoup back as where it is b4 GE14 ..coz new federal just wont award them any project anymore ...only this GBGAQRS seen link to umno, but actually not....coz they get project frm Selangor government also ....but epf only no much holding in this counter ....
fyi, epf's losses is in Malaysia it self , thus no excuses to citing global situation etc as main excuses , coz global down, there are stock still reverse up ...and all this stock tumble is due to ge14 and current goven MOF next move to stop 28days continue foreign fund's retreat frm our market
I say be patient lah . Now market soft Mah. Give some time, Allianz bank estimate profit can go up from RM 48 million to RM 75 million I think for the year. Then market will see cheap Mah
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
kaikai010
361 posts
Posted by kaikai010 > 2018-06-19 12:14 | Report Abuse
Stabilizing to let warrant holder exercise their warrant. Upside already limited