Only hired dogs will keep barking everyday for a drop! Thanks for making Vivocom no1 forum in i3

What happen to disagreetoagree will same happen to you traderman... Disappear

I insisted u r hired dogs ... If u can do better in thheavy

Vivocom not even in mainboard. People already keep telling how world stock can effect Vivocom. Dog should camping thheavy counter instead Vivocom.. Why dogs still here? U know I know

Rm756 mil rm600mil all from perak state umno government. Dogs keep barking !

Hahahaha hahhahaa. Traderman u just been joker in the i3.

Just give something to think about, do guys remember a month ago myeg drop to 1.77 even they make healthy profits every quarter, cause operator greedy flush contra player n long term player to get cheap low price share. Then they push till 2.190 today. And the 2q result announced with superb revenue. What this phenomenon happen to myeg is same to vivocom. Please open up your mind. Basically u still think 0.215 is very drop low but is bonus issue adjust price from 0.280 to 0.220. I hope u understand why operator is doing this to vivocom . Collect when drop low. Believe buy, don't believe bye bye.

Longnian, thanks for highlighted my mistake calculation, as at today order book stood at rm3bil. Still a very great achievement . As I mentioned before, Vivocom not stopping here , another two project rm400 to rm500mil each project will be announce this sept month, and rm1.8bil by year end. And HSR is just another bonus if Vivocom get it. So target. Rm5 Bil remain very positive

almost what come out from traderman & sayangawak are bullshit!! What kind of paper evidences they have?? Anyway dogs just know barking! They only listen to owner ask them to sit and bark..

Can't be wrong on Vivocom ! 5 investment bank research house are positive on Vivocom . Sin chew, businesstoday, borneopost, star newspaper and NST also posting all positive news on Vivocom. Except the only one syndicate newspaper edge financial.

VIVOCOM company surprises

The bank pointed out, participating companies and more industrial and technology-based company, but most companies meeting no surprise, only VIVOCOM company exception.
"VIVOCOM companies in the past three years, compound annual growth rate (CAGR) to reach 194 percent, and the company now look at the next six months the final decisions RM1.5 billion worth of projects and contracts far exceeded our expectations."
CIMB Research said track 8 small capital companies in the past three years, an average CAGR reached 44.6%, mainly due to an average of 194% of the company VIVOCOM CAGR growth, but even skimming VIVOCOM, small cap stocks are still three-year average CAGR of 23% when the rich than the index this year, earnings per share growth of 5.6%, 8.4% or even 2017 earnings per share target is high.

Google translate for above article from martinbartinques

based on projection progression billing forecast, Q3 result revenue and profits will higher than Q1 and Q2. I can't find anymore reason Vivocom is not moving from all this coming news and events. If ask me what is goreng stock, Vivocom has more reason to be goreng.

For HSR is a bonus. I don't even want to related Vivocom with HSR. Cause if u focus upcoming award after correction from longnian, I still assume up to date order book rm3bil till sept2016, another rm400 mil to rm500mil each two projects in September 2016, and rm1.8bil by end year 2016. More than enough to hits rm5bil order book.

When U catch the bottom, what u need to worry? The main worry is to chase high. Vivocom no longer last year Vivocom. Soon more projects to be announce. I more worry I buy company like thheavy. Waseong just receive rm2.6bil order but already start goreng. Waseong still make losses in this 2Q result. Vivocom after received rm756mil rm 600mil still not yet goreng. So u understand why I keep collect when it's drop low. Cause I want operator sell me cheap share rather than I sell them cheap share.

Longnian, u might be right on the figure. My calculations again somewhere rm2.7 to rm 3bil. I apologize if I make mistake.

Vivocom executive director Choo Seng Choon outlined: “Besides the massive Bandar Tasik Amanjaya project secured today, we are also aiming to close, amongst others, two additional construction projects by the end of 2016. These two new projects are worth around RM1.8 billion.”
“Matter-of-fact, the company is now in the final stages of concluding negotiations for one of two new projects valued at approximately RM400 million to RM500 million. Hopefully an announcement can be made by September 2016.”

Very clear indication above. Two project in finalization by September 2016 rm 400 mil to rm500mil each. One of it is Hoa with dazamega contract winning . Another one to come same September 2016.

Two new projects further by end year 2016 worth rm 1.8bil. With total above projection of order book total value contracts win sum up easily worth near rm6 Bil. You answer me does Vivocom show value to you? I don't want look at share price now. I just keep collect when it's share go lower when price drop. I making myself to top 50 shareholder later maybe.

VIVOCOM INTL HOLDINGS BERHAD – A MID CAP CONSTRUCTION RISING STAR THAT CONTINUES TO SHINE BRIGHTLY!
Posted by Business Today

Caption: HISTORIC DAY… (from left to right) Vivocom’s external consultant Francis Wong, Vivocom executive director Choo Seng Choon, Perak state committee chairman for industries, Investment and corridor development Dato’ Mohamad Zahir bin Abdul Khalid, Menteri Besar Incorporated CEO and Amanjaya Holdings

VIVOCOM INTL HOLDINGS BERHAD – A MID CAP CONSTRUCTION RISING STAR THAT CONTINUES TO SHINE BRIGHTLY!
Posted by Business Today

Caption: HISTORIC DAY… (from left to right) Vivocom’s external consultant Francis Wong, Vivocom executive director Choo Seng Choon, Perak state committee chairman for industries, Investment and corridor development Dato’ Mohamad Zahir bin Abdul Khalid, Menteri Besar Incorporated CEO and Amanjaya Holdings

All contract win at bursamalaysia announcement in vivocom page

. “The award brings Vivocom’s contract wins year-to-date to RM1.7 billion and the outstanding order book to RM2.2 billion,” said CIMB Research. “A RM4 billion order book will place Vivocom alongside mid-cap construction companies such as Sunway Construction and WCT Holdings Bhd.”

No point to argue, this is published by NST on 1/9/2016. Very clear 2016 up to date winning contract rm1.7bil. Outstanding order book since 2015 is rm2.2bil.
Total order book as at September 2016 is rm3.9bil. Go back read all the research paper I reposted. Don't be lazy and keep asking same questions. Secondly u can call NST, business today or edge financial to verify.

Vivocom to win RM600m deal? 22 AUGUST 2016 @ 11:07 AM BY ZAIDI ISHAM ISMAIL KUALA LUMPUR: Vivocom International Holdings Bhd, fresh from winning a RM100 million contract last week, is expected to clinch another construction project with a gross development value (GDV) of about RM600 million in Ipoh. Sources said the construction industry was abuzz with news that a significant win was on the horizon for Sarawak-based Vivocom. This contract was just the “tip of the iceberg” for the firm as it was set to win more lucrative projects in the future, they said. “The Perak government and the company is finalising a contract for a construction project valued at RM600 million in Ipoh,” one of the sources told Business Times. Vivocom executive director Choo Seng Choon told Business Times he “is not in a position to confirm or deny this development”. “Please wait for the appropriate announcement to be made.” However, he admitted that the senior management of Vivocom had been working “12-hour days to ensure smooth commencement and execution of the company’s various construction projects”, adding that the company had also expanded its construction team rapidly in recent weeks in line with the swelling order book. “We have hired some highly experienced construction professionals to oversee various projects,” he said. Vivocom announced to Bursa Malaysia on Friday it had received a letter of award for a RM100 million contract from Green Ventures Development Sdn Bhd to be the turnkey contractor to build two 18-storey blocks in Chepor, Perak, for the 1Malaysia Civil Servants Housing programme. Meanwhile, a construction professional said the industry was surprised at Vivocom’s amazing transformation in the recent months. The company has been winning over market cynics and quietly delivering secured projects while hiring top professionals to oversee various projects, some of which are of national interests. Separately, CIMB Research believes that Vivocom’s order book is expected to swell to the tune of RM4 billion by year-end if the company hits its target of RM1.8 billion for second half of this year. The research house believes “its (Vivocom’s) contract win of RM3.5 billion will surpass its RM3 billion estimate for 2016”. In a recent note to investors, CIMB Research said Vivocom’s fast-growing order book “will lend strong support to its 2017 earnings visibility”. Earlier this month, Vivocom announced it had secured a RM756 million contract, its largest win to date, to build 4,000 units of affordable housing over four phases in Perak. The project consists of 15 blocks of apartments over 26ha and it will form part of the mammoth 594ha Bandar Tasik Amanjaya township in Tronoh, on the outskirts of Ipoh. “The award brings Vivocom’s contract wins year-to-date to RM1.7 billion and the outstanding order book to RM2.2 billion,” said CIMB Research. “A RM4 billion order book will place Vivocom alongside mid-cap construction companies such as Sunway Construction and WCT Holdings Bhd.” On Bursa Malaysia last Thursday, Vivocom closed at a 10-week high of 31 sen. Investors have also been pouring money into the stock ahead of its one-for-four bonus issue, which is expected to be completed next month. CIMB Research believes the company’s swelling order book provides “scope for massive price/earnings re-rating”. The research firm has a target price of 78 sen for Vivocom. Meanwhile, MIDF Research on Friday upgraded Vivocom’s target price to 63 sen from 59 sen.

Selanjutnya di : http://www.nst.com.my/news/2016/08/167324/vivocom-win-rm600m-deal?m=1

Otherwise traderman same as disagreetoagree disappear again. Believe buy not believe bye bye.

If traderman can be operator and able move the Vivocom share price, let wait to collect at 0.200 and 0.180. I am happy for him to do us a favor.

The old investor, u got a good point. I believe big buyer will invest on undervalue stocks rather high premium stocks for greater return. To push Vivocom from 0.220 to 0.300, it just need a small investment value from them. If u asked Vivocom share will surge like Mycron or Thheavy or tadmax, it s just matter of time if BB want to push up. A company who make good profits, price cannot forever go down. This Vivocom is making profit 1500 to 2000% compare to last year result. Operator need good timing to make the move. Otherwise all of us making profit at so easy. They always do the opposite way of our thinking. So nobody can guess their move, and the share price will up.

Darth, I not sure what the criteria. But now Vivocom main focus is to maintain good result in Q3 and Q4. If you look at ACE counter, how many stocks is undervalue and good future earning. All u have to do is just hold and wait for push up. Don't bother hired dogs comments, cause the more comments they are, show their are desperate collect more and push up later. I am more worry newmbie who not do homework and fall on their trap. Agains hired dogs will get bad karma they deserved.

Dear Myview , order book up to date already hit rm3.9bil. After collecting perak state projects award rm760mil rm600 mil = rm1.360 bil

Order book from to rm2bil to rm4bil now. And very much confidents achieve rm6bil this year. RERating and revaluation of the share will be adjust soon

Good point from all of guys. As said earlier, Vivocom is still very much undervalue, and enter 2Q of big revenue earning and at less than 9months transformation to a giant construction company along side WCT, LBS, Suncon, Mitra and others.

Put inside cupboard till year end and see. If get lower price, will buy again.

Who ever want to collect lower price, I encourage them. Just put buying q at lower price. I see Vivocom will renounce soon. For those who still holding and pls hold tight. Shareholder Vivocom increase 12,000 to 16,000. I don't know where is the panic selling. good luck to all!

Great bro ! Wish u best of luck and too all your other shares tycoon

Soon earth quake, tsunami, open burning, what euro exit also related to Vivocom . Ahahhahahhaaha

Don't talk to me dogs. I m human

When Vivocom up, see who will be jokers

Again this is Malaysia not USA. Most of time DJI drop, KLCI up. I not sure why people worry oversea rather in local soil. During brexit, I earn more money than normal day.

Golden bro, Good write up...No worry those conman ID will disappear later...

The best time to invest in share is when company share price hit the right bottom price and was during transformation from a non profits to good profit revenue company. Cause you can use small amount of money buy large amount of shares. Vivocom coming future earning will be higher and higher . Price cannot forever stay low. It will go up or shoot up when time come. Operator are taking advantage now to collect cheap shares. If you sell, you will regret. If you buy lower price and keep longer term, you will see the seed grow bigger money later. Happy investing ! I am confidents Vivocom will achieve rm6bil order book this year 2016.

Ya Tuesday remember to sell more hahahaha

The curse will back to you traderman cause you con people ...

Tqvm sohai traderman .

Pls sell more traderman and bring lower the share price, I am thanks you on behalf all new and old buyer.

Sohai traderman, let assume people holding 0.250 Vivocom mother, u asked people to see at 0.225 or 0.220 to you. So they make losses and u said u help people. Hahahhahahhahahaha! Damn joker. Same to you sayangawak. Joker

Remainder to all, if u want to get cheap price share, please put buying q at earlier possible. Don't put buying q last minute, cause normally operator will buy back again. Put all ur buying q lower. If got it, just bonus!

U r right. But I just like Wb

Bagus! caught some Wb again today at 0.110. So cheap, average down again.

http://www.bursamarketplace.com/index.php?ch=26

I hope those buy in Vivocom feel more secured now...

“The board of directors (BOD) is confident and optimistic of the company’s future outlook, and is looking at various ways to rewards its loyal shareholders.
“Amongst the various options the BOD is considering is possibly a bonus share issue or a free warrants issue. Once finalised, they will be announced in due course,” he said.
Choo pointed out that Vivocom is currently the largest company on Bursa Malaysia’s ACE Market with a market capitalisation of approximately RM1.166 billion, assuming all its warrants is converted into shares.
“The company’s shares have consistently been traded in the Top 10 volume leaders in KLCI, showing remarkable volume and liquidity sustained over the last seven months when some seven billion shares were traded.
“The company also commands a huge shareholders base numbering some 15,000 shareholders,” he added.
 
What’s in store ahead for Vivocom?
For the year 2016, Vivocom’s target revenue group wide amounts to RM760 million with growth engines construction contributing 70 per cent, telecommunication (15 per cent) and manufacturing – aluminium (15 per cent). The following year, Vivocom targets RM2.1 billion in group wide revenues with contribution from growth engines construction (80 per cent), telecommunication (10 per cent) and manufacturing – alumininium (10 per cent).
In the quarters ahead, CIMB Research believed that progress billings from CRCC-awarded building jobs should start to flow through, such as Pavillion Hilltop, 1 Gateway Klang and Marinox Sky Villas Penang.

With a potential pipeline at letter of intent (LOI) stage of almost RM4 billion, CIMB Research is confident that Vivocom will be able to meet and possibly surpass the research arm’s RM3 billion contract win estimate for 2016.
“We understand that Vivocom is finalising another large Perak contract worth up to RM700 million in the coming weeks,” the research arm said.
Meanwhile, MIDF Research believed that Vivocom is able to clinch heavy, civil and heavy construction packages in upcoming quarters.
MIDF Research noted that it is likely that Vivocom will also emerge as the key sub-contractors for iconic projects such M101 Skywheel Tower in Kuala Lumpur as well as railways tracks for High Speed Rail (KL-Singapore).
“On this score, it is notable that Vivocom’s co-managing director/chief executive officer (MD/CEO) Datuk Seri Dr Yeoh Seong Mok has consulted more than RM400 billion worth of projects; often as a Project Delivery Partner (PDP) to CRCC,” the research arm said.
Through its partnership with CRCC, Vivocom is also expected to be driven by the ‘One Belt One Road’ (OBOR) policy.
OBOR is a development strategy and framework policy, proposed by the China’s President Xi Jinping in 2013 that emphasises on connectivity and cooperation between China and the rest of the continental landmass of Asia and Europe, MIDF Research explained.
The OBOR policy is divided into international trade connections, the land-based “Silk Road Economic Belt” (SREB) and
ocean-based “Maritime Silk Road” (MSR).
MIDF Research noted that the OBOR state-owned enterprises (SOE) such as China Railway Construction Corporation, Beijing Urban Construction Group, Sinohydro, China Harbour Engineering Corporation and Sinopec finances, develops and construct development projects along the ‘New Silk Road’.
“Their financial requirements are often backed by other SOEs such as China Development Bank, Bank of China and China Construction Bank,” it said.
MIDF Research further noted that New Development Bank, Silk Road Fund and Asia Infrastructure Investment Bank (AIIB) have illustrated on how OBOR could reform the global financial system and at the same time, offer a new path of infrastructure investment funding.
The research arm pointed out Asia Development Bank posits that from 2010 to 2020, Asia would require US$800 billion to beef up its infrastructure.
“Having said that, Vivocom has strategically positioned itself into a beneficiary of CRCC foray into Malaysia’s infrastructure demand hence it not surprising that its orderbook is poised to ascend
through large scale construction projects,” the research arm opined.
In addition, MIDF Research highlighted that Vivocom has attracted institutional foreign shareholding amounting to 5.4 per cent currently.
“Moreover, Beijing Construction Group has expressed interest to participate in their equity capital structure as well as appointing Vivocom as their local project delivery partner (PDP),” it said.
On a side note, MIDF Research also mentioned the fact that Vivocom will have cost advantage as the research arm is expecting lower construction cost due to the supply of building materials from the group’s subsidiary Neata which supplies aluminum doors and windows.
The research arm said that 95 per cent of Vivocom’s projects are for the construction of mixed/residential projects.
“Thus, the building materials supply from Neata facilitates the reduction in its bills of quantities (BQ),” the research arm added.
MIDF Re

Previously known as Instacom Group Bhd (Instacom Group) with telecommunications solutions as a singular source of revenue, Vivocom Intl Holdings Bhd (Vivocom) is now a rising construction powerhouse with a constant flow of contract wins in its pockets and a first quarter of 2016 (1Q16) net profit that has surpassed expectations.
To strengthen the group’s image and to better reflect the group’s new focus and aspiration to be a regional construction group, Instacom Group changed its name to ‘Vivocom Intl Holdings Bhd’ on January 14, 2016.
Through its subsidiary, Instacom Engineering Sdn Bhd (Instacom Engineering), Vivocom has made its mark within the telecommunications industry as one of the leading services providers and for their superior engineering expertise in tower building.
Instacom Engineering currently undertakes works nationwide, concentrating in the Northern Region, Klang Valley and Southern Region of Peninsular Malaysia, as well as in Sabah and Sarawak.
“We count as our clients major telcos throughout Malaysia and also multinational companies,” Vivocom executive director Choo Seng Choon told the BizHive Weekly in an exclusive interview.
According to Choo, the telecommunications industry was very lucrative a few years back. However, he noted that over the years, profit margins have slipped.

This was one of the key reasons why Vivocom ventured into alumininium manufacturing and construction as it places the group now on an even more solid and stable footing in terms of having sustainable and recurring revenue growth.
“Our earnings base has been diversified and we have enhanced shareholder value,” he added.
Choo cited common elements between telecommunications and construction, explaining that in the latter, it all revolves around constructing towers – which bears similar principles to construction.
Aside from its involvement in the telecommunications industry, Vivocom had during the financial year ended 2015 (FYE2015) acquired 78.6 per cent of the equity in Neata Alumininium (Malaysia) Sdn Bhd (Neata), which in turn owns 100 per cent of Vivocom Enterprise Sdn Bhd (Vivocom Enterprise), a subsidiary engaged in civil engineering and construction.
This means that Vivocom is now actively and directly involved in the industries of telecommunications, manufacturing and construction.
“As a result, the enlarged Vivocom Group has now strategically diversified into new areas and viable businesses,” Choo said.
“On the operational side, since the acquisition of Neata and Vivocom (Enterprise), we have reaped benefits operationally in the sharing of resources and know-hows, and expansion of business opportunities through cross-marketing of products and services and cross-referencing of customers within the enlarged Vivocom Group.”
 
Group on a winning streak
The year is coming to its halfway mark, Vivocom has already impressed its stakeholders by winning a number of notable contracts mostly in the construction sector – and the group shows no signs of slowing down.
Choo highlighted that the construction industry will be the prime mover for the Malaysia economy especially in 2016 and 2017.

“With election looming in 2018, the government would be keen to start major projects to develop the nation,” the executive director observed. “Projects such as Gemas-JB Double Track, High Speed Rail, MRT2, etc would definitely help to pump (and) prime the economy as well as to build the nation further.”
According to the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research), Vivocom has transformed itself into a formidable player in the construction sector with strong orderbook replenishment capabilities backed by the group’s technical joint-venture with China Railways Construction Corporation Ltd (CRCC).
“Furthermore, its strategic position within the construction value chain would help to insulate its operating model from impending risks and recurring income from telecommunication assets would provide additional earnings support,” MIDF Research observed.
To date, Vivocom has secured projects totaling more than RM1.36 billion including RM594 million from CRCC Malaysia, a subsidiary of China’s construction behemoth CRCC.
The group  has a strategic relationship with CRCC Malaysia and is their in-house contractor as well as their Project Delivery Partner in Malaysia.
Independent of CRCC, the rising player in the construction industry also tries to land projects based on its own merits.
For example, in May 2016 alone, Vivocom announced that it has won two projects in Perak amounting to RM250 million while later in the month, the group also secured its maiden project in the state of Pahang amounting to RM46 million.
“Having successfully secured two projects totalling RM250 million in the state of Perak, we hope to top these two wins with another milestone as we continue to make inroads to establish a presence in the state of Perak,” said Choo.

KUCHING: Despite the current volatile market condition, analysts believe that Vivocom International Holdings Bhd (Vivocom) provides a compelling risk/reward profile with a fundamental upside.
The research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) said amidst the clamour of the volatile market, Vivocom presents a compelling risk/reward profile with fundamental upside supported by robust current orderbook of RM3.3 billion.
It also pointed out that the continuous expansion in its orderbook of RM3.3 billion coupled with improving balance sheet would potentially translate into positive earnings accretion for the financial year 2016 (FY16) and FY17.
“Currently, its orderbook has expanded from RM2.4 billion in the fourth quarter of 2015 (4Q15) to RM3.3 billion – an increase of 37.5 per cent.
“Going forward, we estimate that its orderbook will grow further from RM3.3 billion to RM3.9 billion by 4QFY16 (an increase of 18 per cent) on the back of 36 months backlog. We are forecasting Vivocom to win circa RM950 million of jobs for FY16 estimate,” it said.
As a result of orderbook expansion, the research team noted that the earnings are slated to grow 5.5-folds of its current levels in FY16F/FY17F.
“Additionally, Vivocom’s sustainable margins of circa 10 per cent will be achievable due to its less capital intensive construction contracts, viz project delivery partner and sub-contracting, through larger China-based contractors such as China Railways Construction Corporation (CRCC) and China Nuclear Industry Huaxing Construction Company Ltd (CNH).
“Its current cash level of RM23 million gives ample financial headroom to increase its mobilisation into sizeable projects that it has tendered such as in Kinta Valley and Tronoh, Perak,” it explained.
The research team also viewed Vivocom’s joint venture with CNH as beneficial for the company’s growth.
It noted, the joint-venture with CNH is another strong catalyst for Vivocom due to the speedier and reliable decision making process.
“CNH is listed in the Shanghai Stock Exchange and its decision making is through the appointed management. Hence CNH’s decision is arguably speedier than CRCC as it has less reliance on the state to make decisions for projects roll-out thus giving certainty to its decision making process.
“Our channel checks indicated that CNH has strong working relationship with China Exim Bank and Industrial and Commercial Bank of China (ICBC) as it has the track record of successfully completed the construction of Global Innovation Centre of Johnson & Johnson, Shanghai, Al Hassan Sports City, Jordan and Shanghai International Gymnastics Centre.
“The joint venture with CNH is beneficial because it removes the risk of execution as Vivocom can step- up on its capacity to take up projects.
“Furthermore, Vivocom can participate in heavy engineering projects such as oil and gas and energy tenders banking on the expertise of CNH,” it commented.
Another advantageous change that MIDF Research observed is that Vivocom’s management are focused to strengthen their fundamentals such as reducing pressure to its balance sheet through increasing its cash flow from operations (CFO) from RM3.7 million in FY14 to RM8.7 million in FY15 (an increase of 135.5 per cent year-on-year) and improving its operating margin from 9.3 per cent in FY14 to 12.25 per cent FY15 (an increase of 31.7 percentage points year-on-year).
“Moreover, shareholders fund has been steadily increasing from RM167.5 million in FY14 to RM329.4 million in FY15 (an increase of 96 per cent year-on-year).
“We also view that Vivocom’s management is balancing its large share base with strong fundamentals to avoid the tendency of depleting its working capital whilst growing its orderbook and increasing its debt level,” it said.
Despite the positive traits, MIDF Research pointed out that there are still risks in the stock. It pointed out that the issue of concentration and execution risks looms through the surge of materiality of receivables (revenue/receivables), which is from 2.6-folds in FY14 to 3.4-folds in FY15.
“Nevertheless, in order to balance our view, we note that the construction contracts per CIDB Guidelines 2007, Persatuan Akitek Malaysia (PAM) and Public Works Department (PWD) stipulates various positive clauses that addresses payment and price adjustments hence comforting any ‘hard landing’ in Vivocom’s construction schedule.
“Secondly, to address the materiality of concentration risks of projects related to China SOEs (state-owned enterprise), the management has illustrated its commitment by tendering into various state government projects such as in Perak,” it said.