Dear Greddym3, please share how you obtained such important info on the power plants. I have been searching the net for months can't find any such info.

Thats because I lost a lot of money on Mudajya (about 90K) and that has rattled my confidence. I am still in it but still jittery.

Going for broke!!!

Should be out by today or tomm....want to sell...do it now!!! If not wait and hope like me!

Write a comment..Taken from Bloomberg just now (just key in Bloomberg Mudajaya)...

mudajaya group bhd (MDJ) Key Developments
Mudajaya Group Berhad expected to report Q1 2015 results on May 20, 2015. This event was calculated by Capital IQ (Created on May 14, 2015).
May 14 15
Mudajaya Group Berhad expected to report Q1 2015 results on May 20, 2015. This event was calculated by Capital IQ (Created on May 14, 2015).

Laosai and Davidkkw...plse don't give me any more heart attacks! haha!

Really hope these fairfax guys have done their homework!!!!!

Construction contracts will be an additional boost!!

In my opinion, all hope lies in the Indian Power Plants...concerns are....completion...operation and profitability...cost overruns for the plants....and...finance cost of the huge borrowings by RKM Powergen (Mudajaya's 24% share of borrowings). Repayment of the borrowings should have started long ago and how this was renegotiated etc are unknown. As this venture is privately funded...I doubt there are avenues to recover costs overruns. Any views? On the other hand, if the plants are successfully operational and profitable....many more similar contracts in India will be on the way and Mudakaya will be all the wiser from this experience!!! That's why at 1 time they spoke about Power REITS.

Anyway we all have to wait at least a year not just this q!

Chicken feed no???

Let's put in perspective. The guy owns about 24% of the company and sells 20,000 shares worth about 28k.....so ????

Prem watsa has a subsidiary...left out in above message

Write a comment..iary in India who can monitor the progress of the power plants and relay it back to him in Canada. They would'nt have pumped so much without doing their homework!

Doubt so, already at rock bottom.anticipate write backs on previous losses and a profit because of this.hope at least 1 power plant fully firing and good progress on rest. By year end there should be some significant progress. Everything hinges on the power plants at the moment...construct contracts are secondary now.

Never mind...just got in...disclosure not like other big PLC's

logitrader I can't seem to get in...wat did the chairman have to say about the power plants etc??? Please share

I got it from the bursa announcements...changes in shareholdings

when the gp buys each company will but the same quantity e.g Fairfax 490, Fairfax FFTL 490 etc. So the other day 13th to 14th April 3 of their entities bought a total of 490 x 3 = 1.47 million shares. Watch the trend...

Wentworth Ins is part of the fairfax gp

My comment dated 14th April above was there was a block purchase just before the close of trading on the 14th April. So now we know...but who sold??/

Correction 120453....Fairfax group bought in total 1.470 million shares on the 13th&14th April via 3 of their companies...see bursa announcements changes in dhareholdings

Thanks so what is your call on the power plants? OK or not?

This morning bidders 786K asking 37K??? 290K bidding at 1.43

Dear GreddyM3 please tell me what you found regarding the indian power plant (RKM) as I can't seem to access. I have a small fortune at stake. Please help. What do you mean unit 1 2 time synchronised? ETC

Thank u 120453. Confusing as the bidders and sellers were nowhere near the 700k volume at 4.30p.m. yesterday!

Perhaps Fairfax is planning to buy up his shareholdings.just a wild guess.

Is bulk transactions included in the end of day transaction volume?

Anto

I can only think of an off market block sale and purchase perhaps by anti who retired and sold and Fairfax buying. Because at about 4 plus the volume was less than 200 and at the end 900k plus! Anti owns about 24% of mudajaya or about 133 million shares according to the star report recently if I am not mistaken. Does anybody know about how these bulk transactions work off market like when mukhriz sold his skpetro shares?

Fairfax (Barbados) International Corp 26/3-1/4 Acquired 763,800 MUDAJAYA GROUP
After announcing 3rd Q losses, Fairfax bought the above number of shares (taken from above Johnny Cash's comment above)...Fairfax Crazy???

Thank u JOhnny cash. As always. Please everyone use your own discretion when investing. Please don't blame anyone if we decide to invest. I already said I list rm100k so I might just as well be wrong again!!! However I can read financials very well as my previous job of 12 years was to analyse corporate financials. However the median market works on rumours and panic etc I guess.

If you analyse the financials, the balance sheet shows the biggest asset (RM712m) as "investment in associates". I believe the bulk of it in RKM Powergen. In an article "What is it worth" by an analyst in this I3 stated "the full commission of the indian plant would add about RM1.60 to its book value" that alone (without construction projects) would mean a price of 3.00 rm. Clearly Mudajaya's success is dependent on the power plant. This is my 5 cts worth evaluation. It should give annualy about RM80 to the company. The deferment of the repayment to the banks (mainly in India-borrowings by RKM Powergen) and the project inflated cost and the ability to recover cost overruns from thier principals (Indian state officials) is now crucial in determining how much profit Mudajaya will gain from this multi billion rinngit project. Again my 5cts worth. Game for the investment? I am as the plant is almost completed.

Fairfax has many companies all over the world including India but based in Canada. The Indian Power plant faced many challenges i.e land acquisition and protest from locals regarding the same. Coal contracts to fire the plants, corruption over allocation with ministers involved. These caused all the delays and RKM Powergen also had to extend their repayment to banks leading to a downgrade from BB- to D (ICRA India) in June 2014. The good news is that Modi had stepped in and all is speeded up and the plants are almost completed and financial requirements all met (including from Mudajaya ). Coal contracts are in place although some have to be bought from less cheap exports. Please remember this is a multi billion project and is almost to be kicked off. Although total project cost has gone up about 35%, the cost overruns can be recovered as contracts usually cover these possibilities. Fairfax came in long after the downgrade by ICRA and are fully aware of the stage of progress of the powerplant. These are my findings. Anybody else has any please email me at colinggomez400523@gmail.com. Remember I lost about 100k and now I am back-in as I can't find any other counter that has potential for me to recover my losses.

Prem watsa is his name. Google it. Even if Fairfax looks beyond 2 yes..it means he is sure the Indian power plant will go through as it is make or break for mudajaya.

The guy who runs Fairfax is an Indian and must have sources before making a 7% stake in mudajya despite all the delays and increased cost in the Indian power plant. He would have also checked icra India grading of rkm powergen's debt rating before making a decision. At least I hope so.if not how to be called warren buffet of Canada???

Wong said his main priority is amongst others is to ensure commissioning of their Indian power plant.

Anto owns a huge % on an individual basis (deemed interest as well) and also bought some at 1.80 a few months ago.

Change in MD anto resigns as MD and James Wong takes over. Reason succession planning. Anti is 63 Wong 54. See bursa anouncements

In google

For recent wikipedia info on mudajaya project in India key in uchpindar power project.u can have an Ariel view of entire project And latest/old news on the project.

Bought star paper in seven eleven 5cts extra 1.25. Fren bought in Petronas same price 1.20????

Looks like Fairfax likes power play!!! Why buy 7% within 1 year???

Lots of improvement and funds since then

Write a comment..y the way the ratings and report is dated July2014.

buy,buy now

Cost of the guge project has gone up from 6654 crore to 8981 crore. Of course there is recourse in the contract and also the appreciated Indian Rupee. Major overruns will be claimed as per contracts signed with the Indian Athorities. My 5 cts worth!!!!

Write a comment..Need info on India uchpindar power plants? Go to google and key-in "RKM Poewrgen Private ltd - ICRA. ICRA is our equivalent to RAM. It gave a grading to the loan outstanding given to the joint venture and some update on this huge project. Also read an article that new indian government gave ok to power projecs including RKM/Mudajaya and is speeding up the process.

Mind u my losses in mudajya us almost 100k!!!

Desperados selling...low volume at 13k