Iphone7 is back. Where was he was the price was on uptrend ?

Putting the impairment aside, everyone should have already known this quarter wouldnt be good coz their are reporting results the past 3-4 months where prices were unfavorable. From Aug/Sept should be good, so next quarter will be better for sure.

Yes I expected this to happened that's why I said earlier good riskless investment. Unless you don't have funds to convert.

It's easy for WCT mother to go up 10 to 20 cents a day coz its only about 10% gain.

Greatwarrants you seem to be one of the only few that understands that. That's why I say it's near riskless to me if u are prepared to convert.

And no one even is asking who is holding the bulk of WD.

Mostly speculators here

Good. The more it drops the more we should buy WD. It's cheap in comparison to mother share to gamble on upside. And what's the risk? Worst case convert to mother.

If you believe in long term of wct, this is a riskless investment

Power96 u holding WD or planning to buy

Coldinvestor is a trader. Not investor.

Desmond has an army of CF ppl and analyst working for him. You think he made a wrong decision taking into account his strong connections and synergy with the Pavillion / Malton group?

1.5 cent premium for WD. Im in

What i will say is big time business man who has real business and cashflow dont care of most of retail investors here. Too insignificant to make a difference unless your counter is really lowly traded and which is not the case here.

You are not digging into his pocket and wealth transfer is from secondary market

firehawk thats even worse. then she'll ask for a portion of his shares and he will lose control of the company

8899 your information is quite accurate. I heard somethin' similar earlier too. If you observe closely, everyday in the buy and sell queue the pass 2 weeks you can see that someone is taking advantage of the fact that TH has been selling and pushing WCT mother down to collect WCT WD cheap.

For a company that has so many jobs ( enough for the next 2-3 years ) and not enough funding, do you think they will let WCT WD expire or they want people to convert.

Logically the easiest most convincing way to make people convert is push WCT mother substantially higher than WD so that the discount is attractive enough to convert. If you own mother as well, its riskless profit for you to convert. But if your speculating then might as well go to casino and try your luck.

WE is obviously the safer option but seriously do you want to pay such a high premium for the same option at a higher exercise.

Do the math.

Accounting 101 answer. They are writing off intangible assets and they can do so at any time. They have almost completely written off the entire portion now.

BTW intangible assets do not affect NTA so no real effect anyway.

Taking away FX losses, they are near operating breakeven / small operating profit.

If you still don't understand how this works better sell. Uncle KKP is gonna make u sell everything back to him at a super cheap price coz no one pushing his shares. So how he's been doing this is he reports bad financials, gives u no dividends. See how much patience u have. Some have waited 3 to 5 years and given up.

Better run if u don't read and do your homework.

Another 10 contractors can sue them for 100m each for the same project and won't affect as they already won the arbritation award 1.2b under JV company

If u don't understand what that means please go google.

BTW they got the award 2 years ago and still pending enforcement after fighting for 6 years. You think the subcontractor case will affect any cashflow in the short term anyway ?

If you ask me, someone is trying to push down mothershare since they know TH is selling and collecting WD and WE.

As for the company, they can only be better from now on with impending REIT exercise, cashflow from the enforcement of 1.3b legal case they won, 5b plus order book. And its in their best interest to encourage conversion for capital purposes. Meaning they want to push mother.

Funny you should mention legal case will eat up 70% of profits. You must be forgetting the 1.3b arbitation they won against Meydan. They have the judgement pending enforcement.

This new case by subcontractors are related to the same project. Also, this a JV company so at worst case they are liable for half

Star article on update on WCT REIT approval, listing will be next year. Today news

If equity investment was so easy ( just using EPS to value stocks ), a lot of financial professionals would be out of job :-)

Well im sure some of you expected this. I remember someone mentioned that they have a fixed crack spread that is not affected by movement of oil price and later when ppl dig deeper there is a lot of inventory costs to consider as well.

If it was such a good business, why did Shell sell out at such a low price and why did a world class MNC like Shell lose money year after year ( if i remember correctly ) before this and now straight after change of ownership the company jumps into high profitability.

Dont forget they are probably paying >2 times interest costs on the refinancing ( Shell interest cost was libor + 0.7% and heng yuan is paying libor + 3.5% ) that should give you an idea of the difference in credit rating and risk

Yes, dont expect any dividends from this counter. China stocks can report all the profits they want and they can just wipe out everything with a capital impairment later.

Why worry mother share dropped 3 cents. That's less than 2%.

This is a construction counter. People dont look at just one quarter performance to analyze trends due to accounting treatment of cost and revenue recognition. People are buying into future valuation not current, thats why price goes up when a big project is secured i.e. future profits and potential dividends.

5b order book which should keep them busy without any new big project awardment to be announced. How is the margin ? Common business sense will tell you that if you have not enough jobs or cant get jobs you might lower margins to secure a deal. But when your have so many jobs at hand, you would only want to 'worker harder' if the margins are high else why bother. So if they do announce any more jobs do you think the margins will be high or low ?

WCT is a old name and respectable one in construction. There is a reason why they are traded a relatively high PE.

TH is just selling alot of stocks in general and EPF is buying most of what they are selling.

Why worry that WCT wont get any project. Their construction business has always been strong and orderbook has been consistent over the years.

If they get any of the large projects that people above mentioned, then i would assume that this is not replacement for diminishing jobs but additional on top of what they already have.

Things you can expect. Realization of the award from the race track Middle East case whereby they have 800m long term trade receivables ( not short term trade ) which they have already won judgement of the case ( Announcement earlier says 1.2b ). Anyone understand that this cashflows means ?

Potential deleveraging of chunky real estate assets via the Pavillion connection which will free up a lot of cash and also reduce interest payable by a significant chunk.

Depends of whether if you know who are the main shareholders. Most of them are institutional that already have the funds and prepared for this via their vote. You can see how many shareholders actually control this counter from the annual report.

Either that or they are selling down for cashflow to subscribe but i believe it will be fully subscribed issue.

Past 5 trading days consecutive downtrend. Why should price trend lower for issuance of CB and CC. Isnt the whole objective of issuing warrants to attract some capital from investors ? If yes a higher price would see conversion

And yes the company definitely needs as much funding as possible. Look at their borrowing rates, probably highest in the industry

Inventory loss is common and should be the same for all oil refining operations. The question we should be asking the past 2 quarters how much was the 'extra-ordinary gain on inventory'.

Obviously we cant just take crack spread and use this as the only input for profitability.

Super investor if you ask me, would have bought in cheap when HengYuan first reporting their Q4 turnaround profit of 200m+. Knowingly that there are not much shares in circulation, this is the best down to pare down some holdings when there is volume.

DPS more than EPS, not to mention EPS has been on a downtrend. Anyone curious how dividend will be sustainable ?

No idiot would bother privatizing this kind of business. Most related company business and niche insurance player at PE of 11-12x ? Motor insurance is supposedly one of the worst sectors to be in btw and is there any 'hidden gems' in this company ? Let silly retailers like us buy better.

http://www.thestar.com.my/business/business-news/2017/08/12/tune-protect-losing-appeal/

Today's article.

http://www.thestar.com.my/business/business-news/2017/08/12/tune-protect-losing-appeal/

Bone I think the question we need to ask is who has been selling down and why. Doesnt seem like key shareholders so likely some other PE Fund below the 5% shareholding.

I think its oversold too but might be due to indication of some negativity in the incoming quarter results.

No offense but really poor one-sided analysis from a so called CFA analyst. Why bother writing when it has so little content. Anyone can write this and you dont even need to understand the business.

Ray Mond Care to share with all of us here

What was your reason to cut loss. Only half a cent loss which is daily fluctuation anyway and nothing has changed fundamentally

Cold investor I thought u bought WE 300k to 400k at 35 cents. So only buy so little to average?

Menara PMI ? That one already sold to OCR family that is managed O&C Resources Berhad ( previously Takaso Berhad ).

What we need is for old man KKP to hit the sack then share price will jump.

Calvin tell us how many lots you have then we will be convinced :D

Companies that dont pay dividend or tax can report as high profits as they want. All it takes is one quarter do a huge impairment on equipment etc.

I see everyone saying how good refining margins are. My only question is Shell was doing horribly before this ( look at the past few years ) so how and why is HRC management better now. How it is that HRC is paying the highest spread in banking i.e. 3.5% + LIBOR compared to 0.7% under Shell previously and still doing better

While im trying to be objective on Calvins comments, i see some logic in his recommendations though they are not very detailed and balanced

But what i will commend him for is that he is trying to share, better than some of us that just keep everything to ourselves. And because of this, we should not over criticize anyone who is posting for the intention to share.

Btw Calvin i pass that building that 5-6 hotel everyday and frankly speaking i dont see any progress at all. Where are all the cranes and have they even recommenced work. Its been rotting there for at least the past 10 years ?

I will say Dutaland is undervalued coz market discounts the company for credibility in the key management. The same for MUI Group. All the rich misers will find a better to unlock value for themselves.

My take is TH is selling to EPF to rebalance portfolio and cash back. EPF bought 1m shares on 21st at a higher price than current and based on the volume, seems they are just changing hands. This is not the only stock that TH is selling and EPF is buying. If im not mistaken, same case for MRCB

Dont forget the won legal case against Meydan and have 800m receivable which is still pending recognition.

I bought more than you at 20.5. Let see if we are right :D

Even Discount the tender, this stock is still undervalued at current price. Easily mother can go back 2.10.

Because I'm confident I bought WD else I would have bought mother or WE.

But past 1 month from current price is still underwater

Aiya hng33 make 2 to 3 cents only want to sell. Dream bigger ma

WD and WE support strong. Looks like I got in at the right time

dexter why do you keep posting those articles ? you googled them didnt you. its garbage

Coz its oversold d if you ask me. No reason to keep dropping.

To me, downside is limited at 1.90 as the company is profitable and has a lot of potential now with Desmond Lim in.

I was going to buy WE but chose WD coz its as close to negative premium where I felt WE premium is too high. High risk high return. WE is lower risk but also lagging both ways of the curve

AAAA, u can still buy back

Bought WD. Looks like close to bottom for WCT to me.

ACE counter with bulk of shares held by directors.

Question is, who is selling if not them ?

Cold investor must have some inside info previously to buy in and i can assure you his costs is probably 70 cents.

Can someone actually explain to me what is willowglen real business / value ? Selling security CAM systems and DVRs is not really 'tech industry' to me.

Change of credible board members not a red flag ?

Just FYI, for those that doesnt read details. The 'successful refinancing' has resulted in the borrowing rates going up from LIBOR + 0.6% to 0.7% to LIBOR + 3.5%!

i.e. which means its a terrible financing terms and to give you an idea of the change in the risk profile for the Bank from vendor to new buyer.

Someone mentioned Shell wasnt doing well so they wanted to cash out now this business is suddenly so profitable ? No one asking the right questions seriously. What has changed and what did Heng Yuan bring to the table ?

Im no O&G expert, but i will just say this. Someone else mentioned that refining margins are fixed and they dont really have to 'worry' about prevailing oil price levels. Unless they are the only refinery around, market supply demand on refinery margins will apply. And if this was really true. why did an oil company like Shell sell at a super discount ?

What i believe is dont fight nature / gravity. O&G and Property sectors are downtrend and will continue to be but you can always try and argue they are gems still in the sector and justify just about anything.

IWC suspended ?

Look at WD...its zero premium and been dropping for the past few days. So do you think WE will drop ? It should coz its way over priced.

WD really painful drop. WE is lagging behind means should drop further. Wait to buy lower

No one seems to ask the real question which is how much will they make from any contract they announce. I have heard some contractors getting less than 5% GP for MRT and still they do the job for the resume.

I actually like this name but how to buy when u don't know this.

The matter of fact is that ANY construction company will always have contracts unless they are not in the market at all. So this contract if awarded is replenishing order book or incremental order book from last year?

If it'd just replenishing order book, then this is just maintaining sales so why should price go up