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6,137 comment(s). Last comment by mahorse at Jun 19, 2018 08:32 AM
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Pavillion
3087 posts

Posted by Pavillion > May 16, 2018 09:24 AM | Report Abuse

Rare opportunity to exit.


kenlee123
105 posts

Posted by kenlee123 > May 16, 2018 09:26 AM | Report Abuse

WOW! What a start.. up 8%


zerocool7199
356 posts

Posted by zerocool7199 > May 16, 2018 10:54 AM | Report Abuse

Still too cheap to go..


jwblacklabel
20 posts

Posted by jwblacklabel > May 16, 2018 10:56 AM | Report Abuse

We have to realise that IT projects are just like construction ones. It's normal that there are progress payments for each milestone.


Flintstones
1302 posts

Posted by Flintstones > May 16, 2018 11:19 AM | Report Abuse

Brahmal effect in play!


timbermad
116 posts

Posted by timbermad > May 16, 2018 12:32 PM | Report Abuse

Oversold! Brahmal enter.. something going on?


apolloang
6605 posts

Posted by apolloang > May 16, 2018 12:33 PM | Report Abuse

I tot wong and bramal already pack their bags and cabut?


fong7
460 posts

Posted by fong7 > May 16, 2018 04:32 PM | Report Abuse

strong rebound!
what's the good news?
on SKIN, public bank report neutral, cimb report positive.


kelvin1
100 posts

Posted by kelvin1 > May 16, 2018 06:47 PM | Report Abuse

Hi fong7, can share the cimb report? thanks


fong7
460 posts

Posted by fong7 > May 17, 2018 05:46 AM | Report Abuse

kelvin1, how to share? it's a pdf file


fong7
460 posts

Posted by fong7 > May 17, 2018 05:50 AM | Report Abuse

CIMB Report:
At Prestariang’s 1Q18 results briefing on 16 May, CEO, Dr. Abu Hasan Ismail said the
Sistem Kawalan Imigresen Nasional (SKIN) project, which is a public private partnership
(PPP), is a must have national security project in view of many weaknesses in the
“MyIMMs” existing IT infrastructure network. Prestariang has already gone through all the
due processes required with the previous Barisan Nasional government over the past 4
years and has been transparent in its business process, the CEO said.

The Immigration Department has seconded 60 of its own full-time staff to the SKIN office
in Cyberjaya for 6 months, an indication of its commitment to the SKIN project. The
company believes the new Pakatan Harapan government is unlikely to renegotiate new
financial terms for SKIN. Prestariang practices an open book policy, which means the
government would know what and how much is its ongoing capex for SKIN. On potential
forex exposure, it said only 10% of the project costs are exposed to the Euro.

Educloud is already 50% complete, working with global partners like Amazon and
Microsoft. Educloud would integrate education, training and employment services into
one single platform and is working with National Higher Education Fund (PTPTN), to
develop a job matching platform that matches student borrowers with jobs that match
their profiles and provide them with pre-work training. UniMY will lead the holistic value
chain for education, training and employment services for the company.

SKIN’s prospects transcend Malaysia. Together with its foreign partner, INCS (a unit of
INCA that acquired Thales’s identity management business), Prestariang and its foreign
partners are looking to launch similar projects in the region, Africa and the Middle East, in
the near future.

UniMY had 513 students in Apr 2018 and they are moving to a new campus in Cyberjaya
in Aug, which has a capacity to hold 3,000 students. The first batch of students has
already graduated and 97% of them have secured new jobs in the industry. However,
UniMy is still bleeding, losing RM1.4m in 1QFY18. The company has indicated it is
looking to work with external parties to cap the losses at UniMY.

We maintain our EPS forecasts and Add recommendation. TP falls from RM2.15 to
RM2.05 as we update our net cash as at end-Mar; valuation basis remains unchanged at
a 20% discount to our SOP/share of RM2.56 to reflect potential delays in the construction
of SKIN given the possibility of new negotiations with the PH government. Re-rating
catalysts are no delays in the construction of SKIN infrastructure while downside risks are
further delays in construction due to potential negotiations with the new government.


corboylee
47 posts

Posted by corboylee > May 17, 2018 11:58 AM | Report Abuse

haha whats the concern abt this stock.. why all exit?


kelvin1
100 posts

Posted by kelvin1 > May 17, 2018 02:06 PM | Report Abuse

Thanks fong7. The company is confident. Brahmal is confident. Do we confident?


kelvin1
100 posts

Posted by kelvin1 > May 17, 2018 06:28 PM | Report Abuse

Brahmal buying again.. So confident!


fong7
460 posts

Posted by fong7 > May 18, 2018 09:17 AM | Report Abuse

Two risks:
1, valuation is high, priced in certain percentage of SKIN's income.
2, SKIN is still not being confirmed by new government.

One positive (my opinion):I like the management so far, I think they are capable and professional.

Conclusion: 50/50, which means risks still applies to holding this stock. fyi, i am still holding some shares, although i sold about 20% of my holdings before the election.


Pavillion
3087 posts

Posted by Pavillion > May 18, 2018 10:09 AM | Report Abuse

I think they haven't start anything yet, except for systems studies etc, bacause they still unable to raise funds.

New govt aims is to reduces gov't spending/expenditure by 10-20% (to cover revenue shortfall from Gst) so any co. dealing with govt contracts/projects are at risk.


kelvin1
100 posts

Posted by kelvin1 > May 18, 2018 01:46 PM | Report Abuse

Hi ajibakery, scroll up this page. The information is there date 15 and 17 May. High risk high gain. If feel too risky, then can sell. Got buyer quieing now. If contract cancel, free fall lol. Consider consider


lssy
5 posts

Posted by lssy > May 18, 2018 04:14 PM | Report Abuse

don't get caught by stock alliance update. judge yourself.


fong7
460 posts

Posted by fong7 > May 19, 2018 07:10 AM | Report Abuse

had government signed the contract with Prestariang? If so, government cannot reject without paying some money. But yes, if got problem on continuing SKIN, share price will free fall for a while. However, market has already priced in some amount of this risk. Share price already dropped more than 50% from its all time high vs today's closing price.


bunuhsateman
624 posts

Posted by bunuhsateman > May 21, 2018 10:48 AM | Report Abuse

Sayonara Ohhh... journey to HOLAND + TiongSan !!!


Flintstones
1302 posts

Posted by Flintstones > May 29, 2018 10:40 PM | Report Abuse

Will be surprised if this stock doesnt drop over the next few days. Pakatan government is serious about cutting cost and is willing to forfeit any project that does not make economic sense


Pavillion
3087 posts

Posted by Pavillion > May 29, 2018 11:31 PM | Report Abuse

Why would gov't want to pay RM250M a year now.


bunuhsateman
624 posts

Posted by bunuhsateman > May 30, 2018 11:37 AM | Report Abuse

Sayonara Ohhh... journey to HOLAND + TiongSan !!!


bunuhsateman
624 posts

Posted by bunuhsateman > May 31, 2018 12:38 PM | Report Abuse

gone case liao... hopeless!!!


mahorse
295 posts

Posted by mahorse > May 31, 2018 06:35 PM | Report Abuse

Present Immigration system is 20 years old.

The government has to incur huge costs to upgrade the 20-year-old MyImms system through the SKIN revamp which enables the Immigration Department to upgrade from just recording numbers of visitors going in and out to verifying individuals using biometric data like facial and iris recognition.


Faiza
205 posts

Posted by Faiza > Jun 1, 2018 08:55 AM | Report Abuse

likely to be scrapped


BN_forever
13 posts

Posted by BN_forever > Jun 2, 2018 04:32 AM | Report Abuse

Brahmal support BN make comeback? PH no good, business all cannot do under them.


mahorse
295 posts

Posted by mahorse > Jun 4, 2018 08:53 AM | Report Abuse

No cash outflow from the government for the first 3 years. I think the most important question to ask is whether Skin is essential to the immigration system.


mahorse
295 posts

Posted by mahorse > Jun 4, 2018 10:52 AM | Report Abuse

To help to eliminate all the noises whether contract is essential or will be reviewed or cancelled, here are some of the press reports on SKIN since 2015. Original amount was said to be RM 6 bil and scaled down to RM 3.5 bil over 15 years, no payment from government for the first 3 years. Throughout the process, the share price went up above RM 3.

20/11/15 Immigration to beef up Msia's borders via SKIN | New Straits Times ...

https://www.nst.com.my/news/2015/11/112631/immigration-beef-msias-borders-skin

18/11/16 Prestariang wins RM3.5bil deal to revamp Immigration's IT system ...

https://www.thestar.com.my/business/business-news/2016/11/18/prestariang-bags-rm3pt5bil-concession-to-revamp-immigrations-it-system/

29/3/17 Prestariang in tie-up with Thales for RM3.5bil Skin job - Business ...

https://www.thestar.com.my/business/business-news/2017/03/29/prestariang-in-tieup-with-thales-for-rm35bil-skin-job/

18/7/17 Prestariang secures RM3.5bil concession to implement SKIN - The Star

https://www.thestar.com.my/business/business-news/2017/07/18/prestariang-secures-rm3pt5bil-concession-to-implement-skin/

19/7/17 Funding concerns for SKIN job weigh on Prestariang's share price

http://www.thesundaily.my/news/2017/07/19/funding-concerns-skin-job-weigh-prestariangs-share-price

1/8/17 Prestariang's transformation gets a cold shoulder | The Edge Markets

http://www.theedgemarkets.com/article/prestariangs-transformation-gets-cold-shoulder

5//12/17 Prestariang signs on INCS and Dell Global Business for SKIN project

http://www.thesundaily.my/news/2017/12/05/prestariang-signs-incs-and-dell-global-business-skin-project

2/2/18 RM3.5b revenue from SKIN seen for Prestariang | The Edge Markets

http://www.theedgemarkets.com/article/rm35b-revenue-skin-seen-prestariang

10/4/18 Prestariang fulfills all conditions precedent for SKIN | The Edge Markets

http://www.theedgemarkets.com/article/prestariang-fulfills-all-conditions-precedent-skin


fong7
460 posts

Posted by fong7 > Jun 6, 2018 07:12 AM | Report Abuse

All BN "friends" got paid "A LOT!!" before the project completed.
But for the Prestariang case, it's the opposite. Not paying for 3 years!!
What that means? Well....maybe it is not BN's friend, which is a good thing now.


Stockker
278 posts

Posted by Stockker > Jun 6, 2018 09:33 AM | Report Abuse

Very seldom where concessionaire fork out money upfront, some more for 3 years. Especially BN era projects.


Stockker
278 posts

Posted by Stockker > Jun 6, 2018 09:34 AM | Report Abuse

Is it good time to collect?


mahorse
295 posts

Posted by mahorse > Jun 6, 2018 09:39 AM | Report Abuse

http://www.freemalaysiatoday.com/category/nation/2018/06/05/oil-pipeline-contracts-followed-procedures-says-najib/

But why payment upfront of 88% when job only completed 13%???


DreamSorcerer
470 posts

Posted by DreamSorcerer > Jun 10, 2018 03:55 PM | Report Abuse

Come do some hedging at Dialog. It's pure gold, man.


DreamSorcerer
470 posts

Posted by DreamSorcerer > Jun 10, 2018 04:16 PM | Report Abuse

Posted by mahorse > Jun 6, 2018 09:39 AM | Report Abuse

http://www.freemalaysiatoday.com/category/nation/2018/06/05/oil-pipeli...

But why payment upfront of 88% when job only completed 13%???
_______________________________________________________________________

It might not be that strange, actually, between two consenting parties in a deal. When there is enough trust between client & contractor, it is not a problem. It is to enable the contractor to roll his cash around, becos he might be a bit short of cash but handling several projects simultaneously. Which means that he actually has lots of cash coming to him in the future.

A friend of mine, who was a small contractor when he started business, always negotiated his deals in such a way that he got 30% payment before he started. Then he usually tries to get another 40% when he is about half finished.

Anything is possible in business. Everything depends on how the negotiations are conducted.


bunuhsateman
624 posts

Posted by bunuhsateman > Jun 11, 2018 12:45 PM | Report Abuse

Sayonara Ohhh... journey to HOLAND + TiongSan !!!


mahorse
295 posts

Posted by mahorse > Jun 19, 2018 08:32 AM | Report Abuse

PRESTARIANG/Singapore Conversant/Alibaba Cloud - Second Move In Cloud-based Education

http://klse.i3investor.com/blogs/PublicInvest/131598.jsp

What is the status?

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