chinaman...plse try to make sense of this...segregating Power from Construction...perhaps a power REIT/...any other guess...or just plain simple re-organisation? Really K Po Chi investor I am...hahah!

OTHERS MUDAJAYA GROUP BERHAD ("MGB") -INTERNAL REORGANISATION OF GROUP STRUCTURE
MUDAJAYA GROUP BERHAD

Type Announcement
Subject OTHERS

Description MUDAJAYA GROUP BERHAD ("MGB")
-INTERNAL REORGANISATION OF GROUP STRUCTURE

The Board of Directors of MGB wishes to announce that MGB has on 13 January 2016, completed the acquisition of shares from its wholly-owned subsidiary, Mudajaya Corporation Berhad, as follows:-

(a) 300,000 ordinary shares of RM1.00 each, representing 100% of the total issued and paid-up share capital of MJC Industries Sdn Bhd for a total cash consideration of RM2,533,460.00;

(b) 100,000 ordinary shares of RM1.00 each, representing 100% of the total issued and paid-up share capital of MJC Development Sdn Bhd for a total cash consideration of RM968,063.00; and

(c) 120,000 ordinary shares of RM1.00 each, representing 100% of the total issued and paid-up share capital of Mudajaya Energy Sdn Bhd for a total cash consideration of RM120,000.00.

Kindly refer to the attached document for the complete announcement.

This announcement is dated 14 January 2016.

I am very sure price is set to rise once the announcement is done...either way firing of plants (1 to 2 mths time) or MGO or annual report giving enough info on RKM Powergen to analyst and shareholders. This will be the year for Mudajya like Johnny Cash says!

ho chi kwai kum yong

Grace123 is going to murder me soon....

Now dreaming again

There must be a reason they segregated their business in a re-organisation announced recently - see Bursa annoucements. Getting ready for something....For Fairfax this RM600 to 700m company is a small fry too. They bought Blackberry in the US billions!

What happens to us small fry's?

I know what MGO means Bro:-


What is a 'Management Buyout - MBO'
A transaction where a company’s management team purchases the assets and operations of the business they manage. A management buyout (MBO) is appealing to professional managers because of the greater potential rewards from being owners of the business rather than employees. MBOs are favored exit strategies for large corporations who wish to pursue the sale of divisions that are not part of their core business, or by private businesses where the owners wish to retire. The financing required for an MBO is often quite substantial, and is usually a combination of debt and equity that is derived from the buyers, financiers and sometimes the seller.

chinaman...what is PAIC?

Actually I am so relieved that Fairfax purchase indicates that power plants are indeed ok and set to fire off any time now. It is the single most important thing right now...with so much invested in India RKM Powergen.

Buy a former RM5 ringgit company at 1.10 at Mudajaya

2014 Reuters article:-

Watsa, who has built a reputation as a shrewd value investor through winning plays such as his bet that the U.S. housing market would fall into crisis, has built up Fairfax's BlackBerry stake over the past three years. The smartphone maker's share price has tumbled from a Nasdaq high of about $148 in 2008 to a low of just over $5 last year

Prem Watsa CEO of Fairfax group is too big and too important to look at this RM600 million plus market cap company Mudajya. Has 1 of his Asiapac boys to purchase potential stocks in this region...and this guy is playing monkey with us investors...offering us peanuts to those who cannot hold on any longer to their shareholdings in Mudajaya ...so don't sell...please.

Yes I am alive again..and like the chicken's backside...blah..blah..blah...but price still "like that lor"

dono...man or woman ...or kwai

Chinaman...by looking deep at Mulpha...you stumbled upon a diamond in the form of Mudajaya and understand that it is poised to shine!....Grace123 will start to vomit...hahaha! better chau b4 kena taruh

By the way...10bagger10...you are very cute...and inquisitive..to say the least.

So chinaman...you are actually a Mulpha shareholder and a I3 kaki wondering why Mulpha is having a rights issue..so you decided to look at Mulpha's 22% owned associate company...Mudajaya. Mulpha has stated that it will use the funds mainly to scale down borrowings, apart from other uses... Yes you may be right that once the money is in ...they can also increase their shareholdings in Mudajya with part of the funds. If indeed the power plants 1 & 2 are soon to be firing...the battle of the big boys for a bigger share of the Indian cake is going to escalate...and so Mulpha wants more bullets in the form of rights issue...maybe I am dreaming again...but I smell a big chance of getting my losses back...in the near future.

Chinaman...kindly explain how you came about Fairfax group owning 22%...Fairfax Barbados 9.05%, Fairfax Asia Ltd 7.72%...Fairfax FFHL..14.62...adds up to 31.39%...all so confusing this direct ...indirect holdings...not so smart...can help??? I am sure many smart guys out there.

Write a comment..It's really crazy of me a few years ago to buy Mudajaya at about RM4 something on news of the multi billion ringgit India power plant project award! Today, when it is finally materialising....it is RM1.10. Nevertheless, I can buy the same number of shares with 1 quarter of the amount I invested back then....it's a chance to get back my losses!!! Hope the recovery in share price will come soon...and all of us can still hold!!!!

Chinaman...u may be right as I have read that Fairfax also buys majority stakes in companies worldwide ...of course in M'sia it is limited to a certain %. By the way...why did Mudajaya do an internal reorganisation...anyone remember/knows???

Fairfax must have certainly done their homework on the RKM Powergen India power stations before this March'16 buying spree. Their CEO Prem Watsa (also knowm as Warren Buffet of Canada) is a Canadian of Indian origin and would definetly have information on the progress of the power plants. He aint no fool believe me.

What about property 365? Already signed up big names who have billions worth of deveopment property sales?

RM67 million cash in bank also

China revenue up 67% good sign. Mgmt says start up cost for Property 365, 1 off administrative expenses and lower revenue from M'sian ops resulted in drop in profit. Property 365, China and Indonesian revenue will be the way forward.

Might have struck Gold?

Former top software stock bets on new e-commerce product
Submitted by dayang on Fri, 02/26/2016 - 09:38
Alexander WinifredFriday, February 26, 2016



AFTER backtracking on the world’s best software stock returns, IFCA MSC Bhd might have struck gold.

The information technology (IT) provider, which at one point last year boasted a 1,300% stock return over 12 months, has been out of luck in recent times.

A shock departure of a CFO in May last year, days after a stellar financial results announcement, sliced its share price in half and left investors running.

IFCA CEO Ken Yong Keang Cheun told reporters yesterday that a new product might return the company back to the trajectory that had its stock surging in 2015.

The product is property365. my (P365), an e-commerce market place for new properties.

So far, Yong said big names including Sime Darby Bhd, Gamuda Bhd, Glomac Bhd and Chinese mega developer Country Garden Holdings Co Ltd had signed up for new websites.

He said developers will pay RM60,000 to list one project on the P365 for a year, and via the website, potential buyers will be linked to a network of real-estate agents who will be able to access the property inventory for free.

From there, buyers can pay for bookings and the website will collect cuts of between 4% and 10% off the sale price, of which the agents will collect a portion.

Yong is positive that the new product has the potential to transform IFCA into a “one billion ringgit company”.

“Investors are very excited,” he said.

Yong founded the company in 1987 after launching an IT consulting career with Arthur Anderson LLP in Kuala Lumpur.

The company now has around 35 projects listed with a combined gross development value of RM2.3 billion.

Yong expected the figure to rise to RM50 billion by the end of this year, and said the company is talking to 600 more developers to get them to sign on.

He said the company plans to capture at least 10% of Malaysia’s total residential transactions — officially valued at RM82 billion last year — unlocking “hundreds of billions in revenue” opportunities for developers, agents and IFCA.

At the height of its rally in 2015, IFCA’s shares were traded at RM1.87, valuing the company at RM1.14 billion.

Investors turned jittery after former CFO Voo Lip Sang left two days following the announcement of a 2,200% profit jump to RM9.69 million for the first-quarter of 2015 (1QFY15), from RM421,000 in the previous corresponding quarter.

Revenue had also increased by 134% to RM31.98 million in 1QFY15 from RM13.69 million in 1QFY14.

“The share price dropped sharply following the CFO’s resignation due to a management misunderstanding,” said a banker who declined to be named.

“People are unsure of the potential of P365, and so far over the last few months, IFCA has been focusing its marketing efforts on property agents and developers, and less to the public,” said Nigel Foo, an analyst at CIMB Bank Bhd.

Foo said IFCA is expected to ramp up promotional activities, and the new subsidiary is expected to gain more traction over the next six to twelve months, during which investors are more likely to see revenue potential.

Bernama news report:-

IFCA MSC Dapat Inventori Dengan GDV RM2.3 Bilion Menjelang Pelancaran P365
KUALA LUMPUR, 25 Feb (Bernama) -- Pakar perisian hartanah, IFCA MSC Bhd berjaya memperoleh inventori dengan nilai pembangunan kasar (GDV) RM2.3 bilion, merangkumi 35 projek di seluruh negara, menjelang pelancaran 'Property365'.

Syarikat itu berkata, hartanah berkenaan dilancar melalui platform e-dagang P365, iaitu e-pasaran hartanah pertama yang boleh ditransaksi pada masa nyata.

"P365 adalah platform digital inovatif baharu untuk industri hartanah atau e-pasaran hartanah.

"Direka bagi membolehkan pasukan jualan pemaju hartanah serta ejen hartanah untuk menjual lebih pantas, lebih baik dan lebih bijak. Selain itu ia membolehkan bakal pembeli hartanah mempunyai kemas kini masa nyata ke atas projek hartanah terbaru.

"Kami sangat teruja untuk melancarkan P365 yang akan memperkasa pelanggan kami untuk menjual pada bila-bila masa, di mana sahaja melalui sebarang peranti," kata Pengerusi Eksekutif IFCA MSC, Ken Yong dalam satu kenyataan Khamis.

Menurutnya, P365 pada awalnya memberi fokus ke atas pasaran hartanah utama, bagi membolehkan pemaju hartanah berhubungan dengan mudah dengan beribu-ribu ejen hartanah di seluruh negara untuk memasar dan menjual projek mereka pada bila-bila masa, di mana sehaja melalui teknologi canggih itu.

Ejen akan mendapat manfaat daripada akses kepada inventori projek baru yang banyak di seluruh negara, yang sebelum ini mereka tidak dapat berbuat demikan disebabkan kekangan geografi, tambahnya.

Syarikat itu, yang disenarai diniaga ACE Bursa Malaysia, sudah mempunyai pangkalan pelanggan yang kukuh lebih 600 pemaju hartanah, dengan itu pasaran sasaran untuk Property365 adalah besar.

Selain Malaysia, IFCA MSC mempunyai kehadiran kukuh di Indonesia dan sedang berkembang di China, semuanya berusaha meningkatkan pangkalan pelanggan yang kini berjumlah 1,600 pelanggan

After mentioning no announcement update from Mudajaya management on power plants, Public invest maintains hold rating/same price target RM1. The target price assumes no earnings from power plants this year because of no clarity. It also mentioned about worry about MYR10m share of loss of associate (probably RKM says the analyst). I got some info 2 weeks ago from 1 of the engineers of RKM Powergen tru their facebook site as advised by 1 of the contributors to this forum. At the facebook site, the guys frens congratulated the RKM engineer on the COD for power plant 2 in facebook. Go to the RKM Powergen facebook site yourselves. When I asked, he replied that the power plants are ok (meaning 1 & 2 I guess) and added that generation of power will be within 1 to 2 months. Did not reply when asked further questions. Hope the management of Mudajaya will come out with announcement soon on status of power plants.

From this year onwards...up up and up!

Back in the black! As expected...hope announcement on power stations will be out today in star!!!

3r Quarter'15 interim results stated RM31.8 million plus unbilled invoices....see last para...

B3. BUSINESS PROSPECTS
Despite the challenging economic climate in Malaysia, the Board of Directors, is confident
that IFCA can maintain its business growth because of its market leadership, large customer
base as well as a number of new initiatives which include:
1. The acquisition of PT. IFCA Consulting Indonesia’s (“PICI”) business will deliver a
substantial contribution in revenue and profit. Please note, there is a profit after tax
guarantee of RM4.0 million per year for the next 3 years;
2. A breakthrough in re-packaging Software As A Service (SaaS) solutions offering on a
subscription basis to address the challenging business climate; and
3. Readiness to roll out a unique digital market place for property developers in Malaysia.
This marketplace will showcase developers primary inventory of properties for sale,
reflecting units availability in real-time. Moving forward, this will begin to transform IFCA
as an e-Commerce company.
The Group believes that these new initiatives and ventures will be the catalysts for
implementing a business strategy that will generate scalable recurring income and
further enhancing the Group’s value in the market.
As at 30 September 2015, the Group has unbilled orders in hand amounting to RM31.8
million.

Tired of defending against so many unfounded claims...someone help me!!!

papaerlane2016 RAM downgraded the SUKUK debt because they had no choice in the yearly review. losses incurred by Mudajaya for so many quarters including 1st half 2015 and no official news on power plants...what do you expect? But look at the rating after the downgrade A2/positive and understand what it means and why the analyst still gave it a good but ....not so good rating...i.e. he mentioned recent securing of contracts and possibility of power plants starting up soon.

Just joking...bro!

10bagger10...if you got lots of capital...and wan 15% dividend...we can start an Ah Long business

10bagger10...poor u..nobody hue u? You are looking for 15% dividend yield...you are looking at the right share...but maybe have to wait a few years from bro for 15%

Ok time for me to shut up and work....grace 123 might surface soon also.... bye

Just remember...in all probability, they will report a loss as ist half 2015 was a loss position. At best will be a breakeven or small profit. Market might react to it indifferently if unaware of power plant COD's and impending generation of power from power plants 1 & 2 within 2 to 3 months.

Priyanka...I am no accountant and I am not encouraging anyone to buy. All the info above is 2014 info.

Just to refresh your minds...after such damaging comments being posted

Full report ...

2014

Mudajaya - What It’s Worth
Author: PublicInvest | Publish date: Wed, 24 Sep 2014, 11:32 AM



--------------------------------------------------------------------------------

Mudajaya's recent earnings disappointments saw its stock price weakening to a multi-year low (5-year low: RM1.80). After the 2Q results, MDJ lost another 17% to current price, vis-à-vis our NTA-derived price target of RM2.25. With earnings under pressure (at least for the next few quarters), a natural question to ask is whether value is emerging with the recent price collapse? We start by relooking at the MDJ's main assets namely, properties such as Menara Mudajaya (NLA 125ksf, Mutiara Damansara) and Crest Building (NSA 225ksf, Jln Ampang) and its 1440-MW power plant in India, with the latter alone constituting 60% of its NTA currently. By just pegging the Indian power plant at book value and revalued property assets at market value, the RNAV is estimated at RM2.90 already. That said, we prefer to err on the side of caution, and wait for Mudajaya to deliver both in job replenishment and commercialization of the Indian power plant (targeted end-2014) before we change our stance.

Property assets worth RM336m, are derived namely from the Group‟s HQ i.e. Menara Mudajaya at Mutiara Damansara and Crest Building at Jalan Ampang. We understand that currently, Menara Mudajaya is fully occupied, with recent rental reached as high as RM4.90psf. With 125k sf NLA, we estimate Menara Mudajaya is worth RM100m at market value (at RM700psf). Meanwhile, Crest Building which has net saleable area of 225k sf (Office: 150k sf; Condo: 75k sf) is estimated to be worth RM270m if priced at RM1100 psf at market value. These two assets are worth RM0.63/share.

1440-MW Indian Power Plant is valued at RM679m in book value, with RM262m of unrealized profits, or total investments of RM941m. The build-own-operate power plant is expected to yield RM70m during its concession period of 20 years. Just by assuming the asset at book value, the power plant is worth RM1.75/share.

Construction businesses. If assuming RM700m sustainable revenue p.a., 6% PBT and capitalized at 10x PER, the construction business is worth another RM0.60/share. All told, the blended fair value for Mudajaya is estimated to be worth RM3.50 (with RM2.90 from property and concession assets and another RM0.60 from construction business).

Maintain Neutral. Until earnings start to show signs of recovery, we maintain our Neutral stance and RM2.25 TP which is pegged on parity to the NTA. Job wins which are expected in the next few months might create buying interest but weak earnings, at least in the next 3-4 quarters would mean stock performance will be capped near term in our view.

Source: PublicInvest Research - 24 Sep 2014


Well the crest building in Jln Ampany is way more than 1,100 per sq ft and probably the other building too! Remember power assets worth 1.75/Share.

I know its old news...but the plants are alive now......

PUBLIC INVEST - September 14

1440-MW Indian Power Plant is valued at RM679m in book value, with RM262m of unrealized profits, or total investments of RM941m. The build-own-operate power plant is expected to yield RM70m during its concession period of 20 years. Just by assuming the asset at book value, the power plant is worth RM1.75/share.

Alphabeta..Bro by your simplistic comments..I guess you are not an accountant. Neither am I. So let us 2 accountant buruh, so to speak, have a debate...OK? No hard feelings. I Miss Amazing Grace already...and here you come.

Firstly, are you aware that RKM Powergen is a Joint Venture between RK Powergen and Mudajaya (notice the missing M in the latter)? Have you viewed the JV agreement? 26/74% does not necessarily mean funding and everything by that proportion.

Are you aware that in 2014 the total assets amounted to about RM5 billion and total liabilities about 4RM4 billion...leaving a RM1. somthing billion TNW? Mudajaya's shares of net assets being about 300 plus million...all in ringgit. The joint venture was profitable albeit a small profit of RM3 million in 2014.

Now, let us concentrate on Mudajaya...the auditors have stated the total borrowings ..about 400 plus million and there are no "hidden" borrowings...the amount owing by associates is small and not associated with the JV. The asset investments in associates (discounting the small ones) amount to about 690 million based on "recoverable amount of investment absed on "value of cash generating units" CGU.

When the JV was signed, expected profits for Mudajaya alone was RM70 million p.a. what do you think is RK Powergen's portion? I like the simple mix up about the total borrowings of RM5 billion to be paid only by Mudajaya as one would assume reading your comments.

I do not dispute the additional costs for the delays/moratorium on principal payments to banks but have confidence in RAM ratings as they are the experts on the RM 1 billion SUKUK (not fully utilised). additionally, have faith for the accounting fraternity as they have accounting standards to follow when valuating investments in associates. Got to get back to work...but could not resist commenting.

I can go on and on...but I am no expert either...but I think my 5cts is worth more than yours!

Bye amazing Grace!!!! See you when you see me!

Confirmed COD received on RKM 1 & 2 and will start generating power within 1 to 2 months time...yabadabadoooooooo! 3 & 4 to follow.

COD means:-

Commercial Operation[edit]Before the seller can sell electricity to the buyer, the project must be fully tested and commissioned to ensure reliability and comply with established commercial practices. The commercial operation date is defined as the date after which all testing and commissioning has been completed and is the initiation date to which the seller can start producing electricity for sale (i.e. when the project has been substantially completed). The commercial operation date also specifies the period of operation, including an end date that is contractually agreed upon.[9]

truce with grace123

Moment of truth...sorry

Anyway...the moment of truce is coming soon on the 23rd 4th Q results should be out and hopefully news on power plants. Looks like most/majority investors are staying put, like me, judging by the volume/price these days

The directors, Fairfax and I are basically fools