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15 comment(s). Last comment by untong at Nov 10, 2019 1:47 PM
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Felicity
75 posts

Posted by Felicity > Nov 6, 2019 2:17 PM | Report Abuse

cannot be right as the revenue may be split. Example your calculation of RM4 billion x 233 / 772, cannot be RM1.2 billion as the traffic may be split. Also the RM4 billion for NSE includes NKVE, Elite and others which is quite substantial. In any case, even half of RM960 million which is RM480 million is already very good for the first year.
On top of that the current revenue for WCEHB is construction revenue. By then would have been eliminated.


sosfinance
1170 posts

Posted by sosfinance > Nov 6, 2019 10:59 PM | Report Abuse

PNB paid about 2.5x for equity invested by SILK, although SILK only achieve its projections after 10 years and was loss making for many years.


Choivo Capital
3196 posts

Posted by Choivo Capital > Nov 7, 2019 9:43 AM | Report Abuse

Not even close, your revenue figures are completely off.

I doubt WCE will hit even 400m revenue in the first year.


AdCool
2593 posts

Posted by AdCool > Nov 7, 2019 10:23 AM | Report Abuse

Lower traffic volume, volume would be split between WCE and NSE, as well as lower toll tariff as part of PH Gov pledge. Hence, a conservative figure should be below RM400 million and the traffic needs time to be built up as drivers need to familiarize with the new WCE and start to use it.


Felicity
75 posts

Posted by Felicity > Nov 7, 2019 5:08 PM | Report Abuse

I think it will be more than RM400 million provided that the highway is completed and toll collection is for entire highway. Reason being the highway is on the busiest part of west peninsular. The PLUS portion of 772km includes Kedah, Johor where it may not even be profitable. RM1.2 billion is out of question but will be closer to RM500 million. Additionally, most traffic will be the higher revenue vehicles, which are the heavy vehicles


shpg22
2281 posts

Posted by shpg22 > Nov 7, 2019 10:34 PM | Report Abuse

I think most earning will be used to pay loan interest. Bank is the happiest


RainT
5075 posts

Posted by RainT > Nov 8, 2019 12:01 AM | Report Abuse

here come again

promote WCEBHD


Tan Frank
35 posts

Posted by Tan Frank > Nov 8, 2019 9:22 AM | Report Abuse

only when NSE look jam at weekend ppl will divide the direction,look at the Penang 2nd bridge-kosong most the time.


uptrending
1422 posts

Posted by uptrending > 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.


untong
22 posts

Posted by untong > Nov 9, 2019 10:15 PM | Report Abuse

Given more than 6bil debt repayment @6% 50years repayment; and using PLUS maintenance cost as a benchmark, i think they need roughly 650mil revenue to breakeven, if the annual revenue can reach 800mil and above , it will be really juicy for the shareholders :)


Felicity
75 posts

Posted by Felicity > Nov 9, 2019 10:21 PM | Report Abuse

Loan is RM4.74 billion. Not RM6 billion.


uptrending
1422 posts

Posted by uptrending > Nov 10, 2019 12:22 AM | Report Abuse

RM 2.24 billion is government support loan @ 4%


jaynetan
828 posts

Posted by jaynetan > Nov 10, 2019 6:39 AM | Report Abuse

Posted by jaynetan > Nov 10, 2019 6:38 AM | Report Abuse X

好多专家,好多数据。我只知道大道经营者决对不做亏本生意,商人也!
我买它,只赌个它迟点会起,不敢对大道老板们班门弄斧。


uptrending
1422 posts

Posted by uptrending > 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?


untong
22 posts

Posted by untong > Nov 10, 2019 1:47 PM | Report Abuse

My mistake, just realized the equity injection is already at 1.95bil, 4.74bil debt including 2.24bil GSL, with debt equity ratio 80:20 they still have room to raise more debt, but given most cost elevation is from land aquisition(now in final stage with chance to recover some amounts), construction cost itself seems to be some savings according to the announcement; i think debt will most likely stay at similar level.

4.7bil debt @ 5%, etc the breakeven revenue need around 600mil

I think each shareholders will have different goal in mind when they pour monies into this project
for IJM they could be also benefiting by earning from constructing and maintaining the highways, other than just toll collection
for Tan Sri Surin given the amount of monies already commited, it is only wise to show confidence by commiting whatever rights needed. Maybe his concern is more on wealth preservation? Instead of putting monies into FD and have to worry about interest rate getting lower each year. Also i am sure he will have better exit plan compared to retailers like us, in case someone wants to purchase sizeable stakes, maybe EPF/PNB etc will purchase 25-40% of it in 3-5 years.. who knows~~ Hard assets like concessionaires more of than 10 years are always very attractive to funds like EPF, in inflationary/deflationary environment maybe? who knows.

I mean each investors will have different entry price, different objectives and purpose, which may not be the same with retailers like us. Btw i am subscribing the RCPS as well as the excesses as i see the price is attractive. But at the same time i prefer to have some figures to do check and balance few years down the road, to see plan for good exit plan :)

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