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17,228 comment(s). Last comment by tkl88 at Nov 25, 2020 7:47 AM
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SHQuah
4416 posts

Posted by SHQuah > Jul 29, 2020 7:09 PM | Report Abuse

Philip......do you have any latest update after AGM ?


Devilsadvocatee
43 posts

Posted by Devilsadvocatee > Jul 29, 2020 8:46 PM | Report Abuse

Hi SS Lee, your questions was answered although I managed to record some only. Here goes:-

1)It has already been more than 3.5 years since contracts awarded in Oct and Dec 2016. Are both projects on schedule? When will be the contractual handover date? And contractual delay hand-over LAD claim date?

A: Construction activities ceased completely during the mco. Work only recommenced early-june 2020 after the completion of the mandatory foreign worker health screenings for covid-19.

The contractual completion dates for hosp Tanjung Karang and hosp endorkin putrajaya are both in nov 2020. We have submitted applications for the extension of time due to the mco and rmco. jkr is processing our applications.

we are accelerating as we adapt to the government's standard operating procedures.

2)What are the balance revenue and cost for these two hosp projects?

A: For both hosps, the balance as at 31 Jan 2020 is appx. RM260 mil.

9.) What are assets employed, revenue generated and profit/loss from this principal activity?

A: as at the end of financial year, the group registered short-term deposits with licensed banks of rm104.2 mil and dividend income of 1.4 mil.

If they upload the minutes as they said they will consider, u guys should be able to read it all.


Sslee
4193 posts

Posted by Sslee > Jul 30, 2020 9:09 AM | Report Abuse

Thank you Devilsadvocatee,
Gkent website already upload the AGM minutes till 2019. Most likely they will upload the 2020 AGM minutes too soon.


Devilsadvocatee
43 posts

Posted by Devilsadvocatee > Jul 30, 2020 5:29 PM | Report Abuse

@ Sslee It's just my personal conclusion but I think there are no "wow" factors in the entire agm. Most information could be found in the AR and QR already. Chairman also sound very cautiously optimistic which I think its responsible and great.

Words such as "reasonable profit for LRT3" is the only one I can remember cleary. For example.


SHQuah
4416 posts

Posted by SHQuah > Jul 30, 2020 8:06 PM | Report Abuse

Devilsadvocatee ...... thanks for the update.


Sslee
4193 posts

Posted by Sslee > Jul 30, 2020 9:05 PM | Report Abuse

Dear all,
Received from Senior Manager Communications Department George Kent (Malaysia) Berhad

Thank you for your interest in our Company.

Attached are the responses to your questions.

Have a good week.

https://klse.i3investor.com/blogs/Sslee_blog/2020-07-30-story-h1511443183-Gkent_Board_answer_to_my_pre_send_AGM_questions.jsp


joonyuenjeen
69 posts

Posted by joonyuenjeen > Jul 31, 2020 8:01 AM | Report Abuse

Sslee, thnks for your effort.


Sslee
4193 posts

Posted by Sslee > Jul 31, 2020 8:28 AM | Report Abuse

Dear all,
Can someone tell me is it true that in Malaysia as a public listed entity, we are not permitted to provide earnings forecasts?
For what I know every IPO prospectus come with earning forecast. US listed companies even can issue earning warning and every IB report in Malaysia give earning forecast. Where IB got this information if this information is not given by the listed companies?

I will rephrase this question: The completion date for the project agreement is 28th Feb 2024. Will the Board kindly share with us the MRCB George Kent Sdn Bhd Revenue and Profit projection for year 2021, 2022, 2023, 2024 and 2025?

Since the LRT3 project was re-modelled from a PDP to a fixed-price turnkey project by the Government. Arising from the above, the project budget and profit have been revised. May BOD share with us since the budget and profit have been revised, what the revised estimate profit margin for LRT3 fixed-price turnkey project is?


SHQuah
4416 posts

Posted by SHQuah > Jul 31, 2020 9:55 AM | Report Abuse

I don't like the way they reply on questions 4 & 5. Question 11 on dividend for year 2021 give us more confident. On question 13 & 14 I hope they will really consider.


Slc1
524 posts

Posted by Slc1 > Jul 31, 2020 10:38 AM | Report Abuse

Wah...next time i choose stock to buy i'll make sure Phillip,Sslee and SHQuah are onboard. No need to worried get con.


rururunnn
13 posts

Posted by rururunnn > Aug 3, 2020 3:14 PM | Report Abuse

lol//

Where IB got this information if this information is not given by the listed companies?


FreshGraduate
1 post

Posted by FreshGraduate > Aug 3, 2020 4:11 PM | Report Abuse

IB have their own research team to project a forecast but im not sure what method they are using to value gkent at 50 sen. Hope they're not just plucking some random numbers.


amzarb44
448 posts

Posted by amzarb44 > Aug 4, 2020 10:56 AM | Report Abuse

George kent why you don want to up aduiii.....


SHQuah
4416 posts

Posted by SHQuah > Aug 4, 2020 9:05 PM | Report Abuse

I do not have accounting know ledge. How to compare NTA vs TP. Gkent Net tangible Asset 93.33 cents but some analyst TP 50 cents. Does NTA include Cash in hand, property and all assets ? If including Good Will, Gkent should worth more than RM1. Please advise.


Sslee
4193 posts

Posted by Sslee > Aug 5, 2020 10:40 AM | Report Abuse

Dear all,
Send addition questions for clarification and got below reply:
Thanks Mr Lee for your questions. Here are our responses:

1. We are expecting a reasonable margin, which has the potential to be improved upon if we can reduce overheads further.
2. We are unable to provide this information.
3. We are working on some potential opportunities. However, we are covered by non-disclosure agreements and are thus not at liberty to disclose further details.

Thank you for your interest in our company. Have a good week.


Dear James Foo (Senior Manager Communication Department George Kent (M) Berhad),

Thank you for sending me a copy of the answers to my AGM questions. Please convey my thanks and warm regards to the Board for taking time to answer my questions. I had studied the answers and would like to clarify with the Board on the following answers given.

Answer 4:
MRCB George Kent Sdn Bhd’s financial year end is 31 December 2019.

The LRT3 project was re-modelled from a PDP to a fixed-price turnkey project by the Government. This necessitated the re-design and re-scoping of the overall project, and subsequently the renegotiation of all contracts, and confirmation and agreement of the new contract values with all the work package contractors.

Arising from the above, the project budget and profit have been revised. Consequently, the timing of recognition of revenue and profit was also affected, resulting in the lower profit recognised in FY2020.

{Pardon me to quote a famous investment guru wrote in i3 investor forum on April 6 2020:
In any case, as a PDP partner their profit was capped at 6% of the project size previously,
https://www.thestar.com.my/business/business-news/2018/08/08/mrcb-and-...
As seen here, profit margins for GKENT will be higher, but the total sum will be lower for the redesign, redesign details here:
https://themalaysianreserve.com/2018/07/17/lrt3-rationalisation-suffic...
But gkent/mrcb is required to accept bigger risk as a fixed contract supplier instead of PDP partner. So they are allowed to use better subcons( no longer BN crony company sub like IJM), but hire specialist companies ( like the one I used to work for before retiring) who can give better prices and do directly instead of sub sub like a standard bumiputera company.

I believe their profit margins will be in the range of 1.2 billion or 10% of the contract, similar to standard main contractor margins.
Meaning Gkent earnings will be around 50% of the JV, 600 million divided by 5 years, with a safer number similar to pre-najib lrt3 fees of 60-80 million a year.}

Question 1: May the board share with me arising from re-modelled from a PDP to a fixed-price turnkey project, the project budget and profit have been revised: What is the estimated revised profit margin? Any possibility that the fixed-price turnkey project might incurred losses?

Answer 6: Our current order book stands at RM4.5 billion. We do not have a specific target for its replenishment.
Question 2: The original question asks for Gkent’s current tender book and order book? So what is Gkent’s current construction projects tender book that has yet to be turned into an order book?

Answer 10: We are looking at acquiring companies in Europe and Asia for technology, products and markets. This will augment our existing operations.
Question 3: Original question ask beside M&As, Strategic Partnership, Complementary Business but also upcoming tenders participate? So what are the upcoming construction projects tender Gkent intends to participate?

Thank you. Only 3 questions for the Board/Management team clarification.

Thank you

Best Regards


Sslee
4193 posts

Posted by Sslee > Aug 5, 2020 11:02 AM | Report Abuse

Haha,
So conclusion: Philip need to buy beer for CFO and dig more information from CFO as what he previously did to JAKS CFO.


pamaladu
60 posts

Posted by pamaladu > Aug 6, 2020 7:18 AM | Report Abuse

anyone has info on the progress status of the RM1bil MRT2 system work package JV between CCCC-Gkent? Not mentioned in the Qtr and Annual Report.


Devilsadvocatee
43 posts

Posted by Devilsadvocatee > Aug 6, 2020 9:29 AM | Report Abuse

37. JOINT OPERATION
On 17 April 2017, the Company entered into an unincorporated joint venture agreement with China Communication
Construction Company Ltd (“CCCCL”) and China Communication Construction Company (M) Sdn. Bhd. (“CCCCM”)
(collectively known as CCCC) in relation to the “Projek Mass Rapid Transit Laluan 2: Sungai Buloh-Serdang-Putrajaya
(SSP)”- Package SSP-SY-204: Trackworks, Maintenance Vehicles & Works Train (“the Project”).
The unincorporated joint venture has been treated as a Joint Operation and was proportionately accounted for by the
Company based on its 49% share of participation in the Joint Venture.
In 2019, the Company entered into a Financial Obligation Agreement (FOA) with CCCC for the purpose of setting out
their individual financial obligations and liabilities. The entry into this FOA does not change the Company’s obligations
in relation to the Project. The parties to the FOA have agreed that in consideration of CCCC assuming the financial
obligations and agreeing to indemnify the Company in all circumstances; the Company shall be released from all
financial obligations in relation to the Joint Venture.    
Arising from the above FOA, “joint control” has ceased to exist as it does not meet the definition of joint operation
(as stipulated in MFRS 11 Joint Arrangements); and significant influence (as stipulated in MFRS 128 Investment in
Associates and Joint Venture). Accordingly, the Company has derecognised its share of the assets and liabilities of the
Joint Venture upon signing of the FOA.


Devilsadvocatee
43 posts

Posted by Devilsadvocatee > Aug 6, 2020 9:30 AM | Report Abuse

Wonder what's happening with the profit part for gkent.


neohts
780 posts

Posted by neohts > Aug 6, 2020 11:08 AM | Report Abuse

Gkent has become a very stable and conservative company.
So just hold and wait for next year LRT3 revenue and Dividend.
Hopefully next year Dividend can maintain between 8 to 10 %


blabla
18 posts

Posted by blabla > Aug 6, 2020 11:57 AM | Report Abuse

lousy company...water meter turn construction. so easy ah overnight can do? dont get connned. they get contract then ask other ppl do for them la.


SHQuah
4416 posts

Posted by SHQuah > Aug 6, 2020 10:35 PM | Report Abuse

Parliament may dissolve this year. Next election if BN win, Gkent & MRCB can get more new contracts.


Devilsadvocatee
43 posts

Posted by Devilsadvocatee > Aug 7, 2020 9:38 AM | Report Abuse

last week when najib was expected to be acquited, this stock fly. Now when LGE is charged, this stock fly. Really political stock eh.


moneymoneycome
330 posts

Posted by moneymoneycome > Aug 7, 2020 12:37 PM | Report Abuse

so much share buy back, is it a good buy? comments pls...


Desmond Nah
373 posts

Posted by Desmond Nah > Aug 7, 2020 2:36 PM | Report Abuse

finally wake up a bit


blabla
18 posts

Posted by blabla > Aug 7, 2020 2:39 PM | Report Abuse

unless Ah jib gor come back be pm then this counter lap sap jor. new leader new crony why feed other leader crony?


RainT
7498 posts

Posted by RainT > Aug 7, 2020 2:41 PM | Report Abuse

erm


neohts
780 posts

Posted by neohts > Aug 7, 2020 2:51 PM | Report Abuse

Difference people see things differently. It's either Half full or Half empty.

As long as BN win the next election, Gkent and MRCB sure go up.
They may even revised back the original LTR3 plan and Cost.

The previous Finance Minister LGE say not enough money to spend. Now the new Finance Minister say no problem with Bank Negara and we still have a lot of money for more projects in order to stimulate the economy.


GrahamNewman
128 posts

Posted by GrahamNewman > Aug 7, 2020 3:45 PM | Report Abuse

I still think Gkent is going smoothly business wise, there are a lot of things that they do and DID NOT do that contribute to how shareholder-minded they are. Much as Steve Jobs said, what you did not do is as important as what you do. Honestly, all the SBB is a tremendous action that few shareholder here appreciates. All i can see here is shareholder whining about how much is the dividend. SBB is a much more effective method that contributes to shareholder value rather than giving dividends. I really am exasperated at why some shareholders are so concerned about dividends. If you rely on dividends to sustain your lifestyle, i think you should not be in the stock market in the first place. And if you wonder why SBB is good for long term shareholder, well you got a long learning road ahead.

And if you rely on IB recommendation to tell you how good a stock is, you might as well buy a dice and roll, you get better odds. A company value depends on 2 scenarios. First you have companies that has no earnings and alot of liquid assets, but sell at substantial discount to this liquid asset value, typical net-net situation. But this situation requires a catalyst or corporate action to unlock the value, if not it will just stay dormant forever. Another scenarios is where a company has high rate of earnings, then the value of the company is the discounted cash earnings that it is expected to earn till kingdom comes. I think Gkent fits the latter scenario. So in view of the current interest rate environment, I think its great that Gkent put excess money into SBB because sometimes the best investment a company can make is in itself.

This stock is tinged with political perception that may or may not be true, but let's face it, construction companies all around the world rely on connections to get deals, because other than a sterling track record, there is no other differentiating factor significant enough. Furthermore, Gkent is not really a construction company, it is actually a service company, Why? it doesn't do the construction itself, but provide project management services, and this is where it can differentiate itself because constructions projects are unique and complex, you need connections upstream and downstream to manage projects, and not many companies has this aptitude. And once a company has the track record, ipso facto it excludes other companies from having the same track record, and this first mover advantage is just going to keep rolling.

A company is a good buy at one price and a mistake at another higher price. You've gotta figure out the price yourself, else you will not have the conviction to hold or the courage to sell when you see the price appreciates.


Slc1
524 posts

Posted by Slc1 > Aug 7, 2020 5:43 PM | Report Abuse

This is my only stock that is green. Good job.


SHQuah
4416 posts

Posted by SHQuah > Aug 8, 2020 8:57 AM | Report Abuse

GrahamNewman....... thanks. I hope Gkent share price could go above actual worth. More than NTA value of 93.33 cents plus Good Will RM1.30.


K-Den
675 posts

Posted by K-Den > Aug 9, 2020 7:22 PM | Report Abuse

I heard my fren told me something funny which I hope this is real, Gkent in progress to get approval for mask & glove, and not sure how true is it since no any new during AGM, i really hope this is real


GrahamNewman
128 posts

Posted by GrahamNewman > Aug 10, 2020 10:25 AM | Report Abuse

Well I hope gkent is not doing something stupid like getting into the mask and ppe bandwagon. It’s a commodity business with no barrier to entry. Anyone can come in and setup business within a month, and you have no pricing power in these commodities product. I would rather they focus on their specialty products.


Matcha Green Tea
159 posts

Posted by Matcha Green Tea > Aug 10, 2020 12:50 PM | Report Abuse

It'll be laughable if the management really intend to do masks and gloves. They are busy producing all those water meter from that 1.5 months time out.


neohts
780 posts

Posted by neohts > Aug 10, 2020 1:27 PM | Report Abuse

https://www.malaymail.com/news/malaysia/2020/07/21/jb-singapore-rts-link-to-operate-by-the-end-of-2026-transport-minister-says/1886505

I would prefer they are involve in this projects and not masks and gloves.
The construction of Johor Baru-Singapore Rapid Transit System (RTS)


Philip ( buy what you understand)
4013 posts

Posted by Philip ( buy what you understand) > Aug 10, 2020 4:58 PM | Report Abuse

If this is confirmed, I will be selling every share of GKENT that I own


>>>>>>>>

K-Den I heard my fren told me something funny which I hope this is real, Gkent in progress to get approval for mask & glove, and not sure how true is it since no any new during AGM, i really hope this is real
09/08/2020 7:22 PM


SHQuah
4416 posts

Posted by SHQuah > Aug 10, 2020 5:54 PM | Report Abuse

This few days Gkent share continue going up ? Any insider news ? Please share.


Slc1
524 posts

Posted by Slc1 > Aug 10, 2020 7:52 PM | Report Abuse

What i heard is JOHAN. It's not GKent.


Blu1602
10 posts

Posted by Blu1602 > Aug 10, 2020 9:41 PM | Report Abuse

Hope tommorow close above Rm1.00 and gradually up.
Target price Rm 2.00 - Rm 3.00. What year can come ? LRT 3 line near my home Jalan Meru and Bandar Baru Klang. Some viaducts already installed above the pillars.


Gary_Teh
2 posts

Posted by Gary_Teh > Aug 11, 2020 8:15 AM | Report Abuse

what do you think about for Gkent this morning? any chance for going up...


chkhooju
1030 posts

Posted by chkhooju > Aug 11, 2020 8:19 AM | Report Abuse

Should be good. Gap up.


Gary_Teh
2 posts

Posted by Gary_Teh > Aug 11, 2020 8:30 AM | Report Abuse

@chkhooju finger cross..let earn some for breakfast.


Sslee
4193 posts

Posted by Sslee > Aug 11, 2020 9:36 AM | Report Abuse

haha,
Sold Gkent. Step aside for next quarter result.


blabla
18 posts

Posted by blabla > Aug 11, 2020 10:03 AM | Report Abuse

the power of face mask manufacturing


v1vin
69 posts

Posted by v1vin > Aug 11, 2020 10:09 AM | Report Abuse

what dahell is happening


Blu1602
10 posts

Posted by Blu1602 > Aug 11, 2020 10:10 AM | Report Abuse

Go limit up Rm1.16


8u29song
1853 posts

Posted by 8u29song > Aug 11, 2020 10:15 AM | Report Abuse

slow and steady no rush..


Devilsadvocatee
43 posts

Posted by Devilsadvocatee > Aug 11, 2020 10:27 AM | Report Abuse

I haven't heard an iota of face mask / glove drop in the AGM. I seriously doubt it GKENT will pursue this route.


SideIncomer
197 posts

Posted by SideIncomer > Aug 11, 2020 10:28 AM | Report Abuse

RM1 is real. cya guys tped = ) good luck


Devilsadvocatee
43 posts

Posted by Devilsadvocatee > Aug 11, 2020 10:44 AM | Report Abuse

D. Future prospects (page: 16)
Can the BOD present more detail on the above: M&As, Strategic Partnership, Complementary Business and upcoming tenders participate?
We are looking at acquiring companies in Europe and Asia for technology, products and markets. This will augment our existing operations.

Augment definition: make (something) greater by adding to it; increase

Doubt gloves or masks will augment existing Water meter, brass fittings or even construction jobs.

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