 | Stock: [WCEHB]: WCE HOLDINGS BHD Nov 10, 2019 1:45 PM | Report Abuse Tan Sri Surin bought from Tan Sri Chan in 2013, 141.4 millions shares @rm1.35 per share. He also subscribed the rights issue in 2014, 3 for 4 @rm1.08 for another 109.5 m shares. Now, he has undertaken to subscribe for his portion of the rights, and jointly with the other 2 major shareholders, IJM and UHF, to subscribe up to 80% of the total rights issue.
What did Tan Sri Surin see in the company? What we know, he surely already knew. But what we don't know, he must had known.
A shrewd businessman like him, would we go wrong if we also take a long term view investing in the company? |
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| Blog: Invest WCEHB. Everyone will pay you for their journeys!! Nov 10, 2019 9:59 AM | Report Abuse Tan Sri Surin bought from Tan Sri Chan in 2013, 141.4 millions shares @rm1.35 per share. Subscribed rights issue, 3 for 4 @rm1.08 in 2014 for another 109.5 m shares. Now, he has undertaken to subscribe for his portion of the rights and jointly with the other 2 major shareholders, IJM and UHF, to subscribe up to 80% of the total rights issue.
What had Tan Sri Surin seen in the company? What we know, he surely already knew. But what we don't know, he must had known.
A shrewd businessman like him, would we go wrong if we also take a long term view? |
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| Blog: Invest WCEHB. Everyone will pay you for their journeys!! Nov 10, 2019 12:22 AM | Report Abuse RM 2.24 billion is government support loan @ 4% |
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| Blog: Invest WCEHB. Everyone will pay you for their journeys!! Nov 9, 2019 5:44 PM | Report Abuse Motorists saved 100km tolled money by travelling via WCE from Taiping to BUKIT RAJA as compared to via NSE. Dont forget that there are 2 stretches total 83km bulit by the govt in WCE are TOLL FREE. The distance is shorter from Taiping to Bukit Raja via WCE, about 248km while that via NSE is about 272km.
There are about 100K heavy vehicles plying the NSE daily. Many will divert to WCE due to shorter distance, save 100km tolled fee, flat terrain and save petrol. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Nov 1, 2019 9:48 PM | Report Abuse My 2 cents view
Plus highway highest offer rm38. 338 B
80% revenue from NSE
NSE 772 KM
WCEHB, 80% of wcesb, 193 km
So wcesb should worth
(193/772)*(0.8*RM3.8338)=RM7.667B
Total construction cost is RM6. 69B
80% FINANCING RM5. 352B
EQUITY VALUE WORTH =7.667 - 5.352=2.315B
Wcehb, 80% is worth RM 1.852 B
This has not added the Bandar Rimbayu.
PLUS has 19 years concession left.. WCE has 50 years..
Distance is shorter from Taiping to Bukit Raja via WCE, 248km and 83 km built by the govt is toll free.. flat terrain, ports to ports..165 km is tolled
Whereas via Plus, from Taiping to Bukit Raja is 265 km, full tolled. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 26, 2019 9:36 AM | Report Abuse http://www.intellecpoint.com/2019/10/why-fundamentals-of-wce-does-not-change.html?m=1
--- Felicity |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 20, 2019 1:12 AM | Report Abuse 80% debt is obviously bigger than 20% equity.
The 20% equity for wcehb is already in place after the RI. The CFO did mention in the EGM /AGM that the company can raise additional debt with the addition in equity after the rights issue. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 19, 2019 5:04 PM | Report Abuse The company mentioned above is wcesb, 20% held by IJM and 80% by wcehb. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 19, 2019 5:00 PM | Report Abuse Total project cost : rm 6.69B
80% debt financing : rm 5. 35 B
(currently only RM4. 74B)
20% equity required to be injected by wcesb:
rm1. 34B
Equity required to be injected by wcehb, 80% of rm1. 34B, is rm1. 07B
The company can still raise fund for the project, if needed, through debt, instead of equity, after the RI. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 19, 2019 11:45 AM | Report Abuse Toll collections at Section 8,9,10 and Section 4 & 5, are due to commence anytime soon, I believe. This would help the cash flow. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 19, 2019 11:38 AM | Report Abuse Leefongyong,
Yes. I attended the last EGM/AGM.
The question you mentioned was raised. The CFO answered that the company can raise more debt to fund the project should the need arise as after the rights issue, the equity portion is enough to fulfill the 20% equity.
I posted earlier :
"No more rights lah..
Actually the company only needs to fork out 20% equity for their portion. The total project cost is rm6.69 Billion, 20% equity is rm1. 338B.
WCEHB's 80% portion would be rm1. 07B
So far WCEHB had already injected
rm673. 73 millions (out of which is a rm150m term loan which would be repaid after the current rights issue). RM320 millions from this rights issue (after repayment of the rm150m term loan with rm4 million interest) will be injected as equity. The proceeds from the conversion of the 2 billion rcps in 2 years would bring in another rm80 million.
So, the total equity injected would have been RM1. 073 billion then.
The company, wcesb, could raise some rm500m-rm600m to fill up the debt portion to 80% which would be RM5. 35B. The current total financing obtained is RM4. 74B. There would be some savings from the land acquisition payments for cases now in the court.
So, no more requirement to raise fund after this RI. This was brought out in the recent AGM and the CFO did say so." |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 8:43 PM | Report Abuse Jon,
Thanks.
So cut the long story short, do you think that at the current price, is wce share undervalued or overvalued? |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 3:49 PM | Report Abuse Yes, Jon
Please share your latest findings and all the facts.
I hope to read it today as I would be travelling after today for 2 weeks.
Thanks. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 2:10 PM | Report Abuse https://www.sciencedirect.com/science/article/pii/S2095756415306024
This is another old post.
year 2008 - 2013, growth rate for the KL-IPOH route was 9.5% compared to 1.3% and 2.2%, KL - Karak and KL - Seremban respectively
QUOTE
With reference to statistics of one direction traffic flow for 2013, the average daily traffic for KL-Karak were 147.4 thousands, 206.1 thousands for KL-Seremban, and 253.2 thousands for KL-Ipoh. The growth rates for the five-year period of 2008–2013 were estimated at 1.3 percent, 2.2 percent and 9.5 percent, respectively.
UNQUOTE |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 2:00 PM | Report Abuse I read the above post. However, it did not specifically mention NSE. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 1:21 PM | Report Abuse Plus annual report 2010
Average Daily Traffic Volume
2010....... .2009... ...2008....... ..2007........ 2006
1.142M...1.076M...1.029M....1.007M......0.938M
======================================
Fast forward to 2019,
Daily traffic volume on NSE on normal days is 1.7M, and 1.9M on festive seasons...
Compound annual traffic growth is close to 5% |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 9:22 AM | Report Abuse y2k
This is rights issue, not bonus.
You seems know nothing of investing in Bursa.
Why not you go to your remisier for advice. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 8:02 AM | Report Abuse From Taiping to Bukit Raja via WCE, the length is 248km, out of which only 165 km is tolled, 83km is toll free. If via NSE, it is 272 km and it is tolled for the whole length. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 7:38 AM | Report Abuse NSE, total length is 772km against total length in Plus, 1270Km. Total length of WCE from Banting to Taiping is 316km. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 7:29 AM | Report Abuse So many bidders for Plus.
WCE is a smaller version of the crown jewel in Plus, the NSE.
NSE, contributed 80% of the revenue of Plus.
Plus' 1270Km, which was bid for about RM34.9B EV. NSE being 80% revenue contributor should value at RM28 B
WCE, total length 233 KM+83km, costs
RM 6.69B
wouldn't WCE be viable? |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 1:47 AM | Report Abuse I read that on the NSE, the North bound traffic is actually higher than that of the South bound and the revenue from NSE contributed to 80% of Plus. I was also told by a reliable source that there are about 100k heavy vehicles or trucks on the NSE daily. Considering that WCE has a flatter terrain and is running from port to port, about 83 km built by the government is toll free, wouldn't it attract good traffic to it.
We wouldn't have more info than the 3 major shareholders who has invested heavily into the company and now are prepared to fork out hundreds of million to subscribe for their entitlements and even undertaken to subscribe for excess shares up to 80%.
I am riding with them at a much lower cost. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 1:16 AM | Report Abuse Quote
For the first nine months of 2016 (9M2016), the NSE registered a moderate 4.4% growth in traffic volume to 13.4 billion passenger car unit-kilometres (PCU-km)
Unquote |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 16, 2019 1:15 AM | Report Abuse Jon,
MARC reported in April 2017 that traffic on the North South Expressway growth was 4.4%, contrary to what you mentioned.
https://www.marc.com.my/index.php/marc-rating-announcements/727-marc-affirms-its-aaais-rating-on-plus-rm23-35-billion-sukuk-musharakah-programme |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 15, 2019 1:20 PM | Report Abuse Operators are here to set TP... lol |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 15, 2019 6:48 AM | Report Abuse Please approach your remisier. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 11:39 PM | Report Abuse Full completion will be in 2022, upon completion of a 10+ km stretch in Tanjong Karang. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 11:36 PM | Report Abuse The chance is very slim. Even if it happened , I would believe that it will rebound very fast. When the rights issue is completed, it will move to its intrinsic value. This is a long term stock to hold. I believe its value will be reflected towards the completion of the highway in Aug 2021, barring unknown risks. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 11:03 PM | Report Abuse Yes |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 10:07 PM | Report Abuse You can convert it to the mother share by surrending 1 rcps +4cent for 1 mother share, to the share registrar of the company at anytime during the 2 years tenure of the rcps OR 4 rcps for 3 mother shares. You can also sell it in Bursa as it is also listed and tradable. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 9:21 PM | Report Abuse Obviously it is to their advantage if they could get their excess shares which is priced at such low price. They would be able to increase their shareholdings at relatively lower costs.
Not forgetting that, according to my estimate, their average cost per shares ranged from 70 cents, rm1.10 and rm1. 20 respectively. They have been holding at least 5 years. IJM has the lowest cost among them but IJM first bought into the company in 2005 @28 cents and subscribed the rights issue @rm1.08, 3 for 4 in 2014. The other 2 major shareholders also subscribed for the rights in 2014.
So, this coming rights issue is absurdly cheap. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 9:11 PM | Report Abuse The 3 major shareholders combined currently holds 61+%. They have collectively undertaken to subscribe up to 80% of the rights issue, splitting among themselves proportionately according to the percentage of their shareholdings. Effectively, each of them will be subscbring in excess of about 30% of their entitlements. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 9:03 PM | Report Abuse Die die also must subscribe. It's too cheap. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 8:40 PM | Report Abuse Sheep, thanks.. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 14, 2019 5:26 PM | Report Abuse Sheep,
If you don't mind to show your calculations, thanks. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 12, 2019 12:44 PM | Report Abuse Unless the mother share drop to 16 cents and below, then rcps holders may use their 4 rcps to convert 4 rcps for 3 mother share under option 2. Otherwise, likely use option 1 for the conversion. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 2:47 PM | Report Abuse Issue price is fixed to such low price, as well as the warrant conversion price. The 3 major shareholders undertaken to subscribe 80 % of the total rights issue. It is to their advantage if minority shareholders do not subscribe. However, full subscription will raise the required fund. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 2:42 PM | Report Abuse And there is a free warrant, 1 for 4 rcps subscribed |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 2:34 PM | Report Abuse Someone can help Darren?
PA usually has a discount. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 2:19 PM | Report Abuse Apart from holding 80% stake in West Coast Expressway, the company is holding 40% in Rimbayu, a 1879 acres property development in Kuala Langat, which is about 10km away from Kota Kemuning. The development is handled by IJM Land which holds the other 60%. More than 1000 acres of the land has not yet developed. The GDV over the next 10 years in the region of RM10B. The company's holding cost of the land is only rm5+ per sq ft against a market price of more than rm30 per sq ft. Transactions done in the neighbourhood in the past few years was rm33 per sq ft. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 2:06 PM | Report Abuse Already in the posts above |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 1:20 PM | Report Abuse Wow, Darren Soo has just One and Only One post so far |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 1:13 PM | Report Abuse Top 400 shareholders holding 100K shares and above, 92.24%. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 1:05 PM | Report Abuse The above 3 major shareholders hold a combined 61.37 %. A fund Credit Suisse hold about 6%. Top 30 shareholders holds 78.87 % as of 29 June 2019.. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 12:20 PM | Report Abuse Considering the estimated average cost of the major shareholders, not including interests, holding period of min 5 years and above
MWE : 1.20
UFH : 1.10
IJM : 0.70 |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 11:00 AM | Report Abuse Jon, what would be the price or compensation you think the govt is going to pay? |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 10:58 AM | Report Abuse Toll collection at section 8, 9, 10, 4 and 5 could commence soon. The company is hiring :
PENYELIA TOL - (7 positions, based in Shah Alam / Klang)
Warganegara Malaysia;
Berkelayakan SPM atau Diploma;
Mempunyai pengalaman bekerja dalam bidang perkeranian/pentadbiran;
Berkemahiran dalam Microsoft Words & Excel;
Bersedia untuk kerja syif (06:00, 14:00, 22:00);
Memantau dan mengawasi aktiviti kutipan tol;
Memastikan CSA mematuhi kesemua polisi dan prosedur pada setiap masa ketika bertugas di lorong; dan
Mempunyai etika kerja yang baik, bertanggungjawab, berdedikasi, jujur & amanah dalam menjalankan tugas.
Apply now or Email to: hr@wce.com.my
Anyone? lol |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 9:52 AM | Report Abuse The net equity injected by WCEHB as todate, less the rm150m term loan, is RM523. 73million
The market Cap now is only RM476 million @47.5 cent, haha
Lelong Lelong |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 7, 2019 9:42 AM | Report Abuse No more rights lah..
Actually the company only needs to fork out 20% equity for their portion. The total project cost is rm6.69 Billion, 20% equity is rm1. 338B.
WCEHB's 80% portion would be rm1. 07B
So far WCEHB had already injected
rm673. 73 millions (out of which is a rm150m term loan which would be repaid after the current rights issue). RM320 millions from this rights issue (after repayment of the rm150m term loan with rm4 million interest) will be injected as equity. The proceeds from the conversion of the 2 billion rcps in 2 years would bring in another rm80 million.
So, the total equity injected would have been RM1. 073 billion then.
The company, wcesb, could raise some rm500m-rm600m to fill up the debt portion to 80% which would be RM5. 35B. The current total financing obtained is RM4. 74B. There would be some savings from the land acquisition payments for cases now in the court.
So, no more requirement to raise fund after this RI. This was brought out in the recent AGM and the CFO did say so. |
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| Stock: [WCEHB]: WCE HOLDINGS BHD Oct 6, 2019 2:41 PM | Report Abuse https://youtu.be/fB1ltq84azg
Khazanah : PLUS is not for sale. The offers are too low.
Cannot buy Plus..
Buy wce lah, though can't get controlling stake.. lol |
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| Blog: (CHOIVO CAPITAL) A brief analysis and valuation of WCE Holdings Berhad (WCEHB). Oct 5, 2019 6:01 PM | Report Abuse Meant if you had stopped at the 2.46B PV b4 the rights issue, the number of shares now is 1.002B, the PV is well exceed rm2. Correct? |
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