RM 3 bil rightt issue money secure, the remaining RM 1 bil for other shareholders or underwriter...
PNB commited - RM 2.68 bil
Tan Sri Shahri - RM 400 mil.

In total, PNB will fork out RM2.68 billion for the rights issue of shares and RCPS-i as it has given the undertaking to subscribe for some of the unsubscribed shares and RCPS-i. PNB will become the single largest shareholder of Sapura Energy, holding 40% upon completion of the rights issue.

Sapura Energy president and chief executive officer Tan Sri Shahril Shamsuddin, the single largest shareholder currently, and his privately owned vehicle have raised their commitment to RM400 million from RM300 million initially.

Current Market Capital of Velesto energy is RM 1.6 bil
Last yr May, it raised RM 1.8 bil cash from right issue...
Velesto is a value play with current low price...
The current market capital is lower than cash it received last yr from right issue share.

I think investors are still worry about Bumi Armada delays US$500m debt refinancing deadline ..

http://www.theedgemarkets.com/article/bumi-armada-delays-us500m-debt-refinancing-deadline

Moody’s leaves Petronas ratings unchanged but lowers outlook to negative

Read more at https://www.thestar.com.my/business/business-news/2018/11/08/moodys-leaves-petronas-ratings-unchanged-but-lowers-outlook-to-negative/#WQJgdEz7UAGbdD0T.99

The Sarawak government’s move to impose a 5 per cent sales tax on petroleum products produced in the state

https://www.malaymail.com/s/1691018/5pc-tax-on-petroleum-products-will-affect-market-says-azmin

Bumi Armada delays US$500m debt refinancing deadline

http://www.theedgemarkets.com/article/bumi-armada-delays-us500m-debt-refinancing-deadline

Better dont catch the falling knife tomorrow, i think is a Samurai sword, very sharp, sure die if kena...

Look like GenM need to incur higher marketing cost to attract more gamblers...
The current hot topics discuss among gambler are how GenM react to higher tax, will it cause them harder to win money....

news spread very fast.... gamblers know that GenM will adjust the winning rate for slot machine, they will not play slot machine anymore....revenue down, profit down, tax higher for slot machine...

Dont try to catch the a falling knife... it can kill you...

RIP Genting Malaysia...
Heard that there is one IB want to downgrade the target price to RM 3.00.
Let see on Monday whether this is a true....

Today this share is affected by external sentiment..

No eye see for Asia Markets... US future continue dips...

unloaded some to take profit to reduce risk due to overall market sentiment is bad...

Let take grab to MRT instead of feeder bus...
This will help to reduce MRT construction cost....


https://www.malaysiakini.com/news/446624

Cash is king... Gamuda will receive RM1.54b cash soon from water resolution...

• SPLASH disposal concluded for RM2.55b cash – this represents a 28% haircut to SPLASH’s book value;
the Selangor State will acquire SPLASH and will conclude the State’s water restructuring exercise
• State to pay 90% of Gamuda Water receivables – proceeds will amount to about RM650m, of which
Gamuda’s 80% share will total about RM0.52b; together with SPLASH’s proceeds of RM1.02b, Gamuda
will receive about RM1.54b cash from the resolution of the water issues

https://gamuda.listedcompany.com/misc/qr/Q418brieifng.pdf

After Termination of MRT 2 underground contract, market now value Construction segment 0 value.
Within 1 week more than 30% of value wipe off ? it is justifiable and confirm that no turn around for the contract resume.

https://www.thestar.com.my/business/business-news/2018/10/10/mmc-gamuda-pledges-open-book-approach/

Based on the latest quarterly earning report PBT
construction segment - RM 61.7 mil
Property segment - RM 111.8 mil
Concession - RM 95.4 mil

https://gamuda.listedcompany.com/misc/qr/Q418brieifng.pdf

Property segment doing well, FY 17 sales - RM 2.4 bil FY 18 sale RM 3.6 bil and FY 19 forecast RM 4 bil. Thanks to the Vietnam, SG and Australia oversea project .

After created a big huha recently, Both parties, Gamuda and MOF will back to negotiation table to review the contract again. Both party cant afford to stop the contract like this. Both parties will be loser...

Gamuda still want to continue the penang transport master plan award by penang state government. it wont risk to damage the relation with government.

After 3 days of volatile movement due to sentiment, it is time back to fundamental earning valuation...

https://klse.i3investor.com/blogs/general/177102.jsp

As a politician and government, it is ok and accept to be criticised... if not it will he like ahjib BN...u cant said anything.....

Tony back ground... dont ask him about engineering... ask him about money & number, he is expert, that why 1 MDB exposure is so good... he is good in something but not all the thing...
he is good to be opposition but not as government, he need time to get use to it...

Education
Tony Pua left home when he was 13 to do his secondary schooling in Singapore on an ASEAN scholarship from the Singapore government. He attended Raffles Institution and Raffles Junior College. He then went on to Oxford University where he studied PPE at Keble College on a MTC scholarship.[4]

Early career
Pua worked for Andersen Consulting (now renamed Accenture) as a consultant after he graduated from Oxford. Two years later, in March 1997, he started Cyber Village when demand for e-business consultancy grew.

With his combined savings and those of his parents amounting to RM20,000 and another RM30,000 chipped in by three friends, he went ahead to open an office in Overseas Union Garden, Old Klang Road, KL with four staff.[5]

In August 2001, Cyber Village became the first Multimedia Super Corridor (MSC)-status company to list on the Singapore Dealing and Automated Quotation System (Sesdaq). Its public offer of 400,000 shares drew an over-subscription of approximately 2.7 times.[6] In January 2009, Cyber Village had successfully undergone a management buyout under the Koyo Group.[7]

https://en.wikipedia.org/wiki/Tony_Pua

KL residents do prepare sink hole here and there and floods everywhere while waiting for cheap contract to be re tender.... this is not part of cost saving therefore not in the consideration for calculation by local engineering company...

finance ministry’s decision was based on the review of the project by a local engineering consulting firm appointed by the ministry....

Which local company which had such capability to access such tunneling project ? can share ?
This company said can reduce a lot of cost ? if they are wrong, how much tax payer need to pay for inaccurate data "local engineering consulting company ?

Gamuda said local company assumption is too simple...

“A significant part of the review findings were refuted by MMC-Gamuda on technical grounds as being too simplistic and arising from a lack of relevant experience,” it said.

Gamuda want ...

“We shall adopt an open book approach with the appointment of an international engineering consulting firm that possesses the necessary experience and track record in assessing tunnelling works around the world, and as such, be in the best position to re-examine where savings can be derived,” it said.

Tony take it trust the local engineering company, feel happy with such a billion ringgit savings they mentioned and happily share it to all... we can save a lot...

Later if there are holes sink here and there and flood in the MRT stations......
all the best to KL resident...

https://www.freemalaysiatoday.com/category/nation/2018/10/08/mmc-gamuda-termination-of-mrt2-contract-will-leave-20000-jobless/

light end of tunnel...

MMC-Gamuda says ready for MRT2 contract renegotiation

https://www.malaymail.com/s/1681472/mmc-gamuda-says-ready-for-mrt2-contract-renegotiation

Look like we need to delay mrt2 to push for national car 3...drive more take less mrt...back to the past..

https://www.todayonline.com/world/mahathirs-3rd-national-car-be-asean-effort-weather-us-china-trade-war

Why penang need a RM 6.3bil tunnel while current second bridge under utilise..

https://www.nst.com.my/news/nation/2018/10/418203/tunnels-elevated-features-penang-paired-roads-project

PrayForMRT2: MMC-Gamuda Employees Appeal To Government After Termination Of Contract

https://says.com/my/news/prayformrt2-mmc-gamuda-employees-appeal-to-government-after-termination-of-contract

Could you explain why we need national car 3???

Do pakatan need the RM 6.3 bil tunnel at penang ?
Which want more critical ?mrt 2 or penang tunnel ?

The paired roads project will be undertaken by CZC, with the proposed undersea tunnel project at a cost of RM6.3 billion

https://www.nst.com.my/news/nation/2018/10/418203/tunnels-elevated-features-penang-paired-roads-project

Which contractor would dare sign contracts with PH now?

Koon Yew Yin is a retired chartered civil engineer and one of the founders of IJM Corporation Bhd and Gamuda Bhd.

https://www.freemalaysiatoday.com/category/opinion/2018/10/10/which-contractor-would-dare-sign-contracts-with-ph-now/

Latest contract win without drilling rig contract mean this segment still not recover yet.
The biggest drag for Sapura result is rig business with high debt & finance cost and high depreciation cost ....

Another oil and gas victim after Sapura.... RIP.

Buying rate could turn to selling if they notice there is no rebound in the next few days... this group of people could be speculators or short term traders...

Right issue at RM 0.40 per share ?

Bumi Armada is understood to be looking to raise US$500 million (RM1.96 billion)
Bumi Armada to monetise assets, pare down debt
Seem like Armada is activately looking to reduce debt, few options have been access.
Hope that it wont mention that it need to raise capital to reduce debt...

http://www.theedgemarkets.com/article/newsbreak-bumi-armada-monetise-assets-pare-down-debt

i think is not my fear, it is fear for the rest of Armada investors... hope that sapura case wont repeat at ARMADA... Risk for Armada has increased after Sapura case...

FYi... Sapura also awarded a lot huge of projects up to now... but need still to raise capital.. unfortunately, sapura share price crashed with no eye see... Sapura share price stable before announcement of right issue shares. once announced, no eye see...

in case Armada get a new project, it need cash to finance it, same as Sapura where it need capital to fund for new project. once Armada receive new project, it need to raise capital to fund for the new project too....whether it is for debt payment or expansion, both need money....

Armada need to raise capital same as Sapura.... wait for right issue price... Sapura debt RM 16 bil, plan to raise capital RM 4 bil to pay debt and grow business.... Armada RM 12 bil debt ? what they plan to do, interest rate in USD keep going up....Armada had short-term debt of RM3.85 billion in end-2017....Still thinking how to pay it....As per last Q result, Armada has short term debt of RM 5.5 bil with RM 1.5 bil of cash... therefore, it need to find way to pay for short term debt (within 12 months)

sapura need cash to pump oil....

Sapura need cash ... please donate more money to growth the business of sapura... thanks...

Do prepare more money for right issue share at 0.4 and few billions share to support sapura business... thanks..

Sapura need to reduce debt due to majority of its debt in USD and US interest keep going up and sapura need to pay RM 220 mil interest per Q.
The cash flow show it only generated little cash from operation of RM 16 mil, it is not enough to pay interest rate.
The new Project and bid projects need cash to operate, the working capital need cash to start new project. therefore they need to raise cash thru right issue ASAP to fund the new won project...

Sapura need cash to growth and pay debt...Huge right issue will pull down the share price like UMWOG case...

Sapura still have RM 8.5 bil of goodwill in its balance sheet pending for future write off....

If Sapura decided to issue share at 0.4 at high volume... it could drag the share down to 0.4 as per UMWOG case..

Assuming a US$500mil rights issue at an issue price of 40 sen a share, it pointed out that five billion new shares may need to be issued, almost doubling its current share base.
Read more at https://www.thestar.com.my/business/business-news/2018/07/02/cimb-research-cuts-sapura-energy-target-price-widens-core-loss-forecasts/#CQgu4RKcMeaFGivq.99

Sapura cash flow very weak, it need to raise a lot of cash to support daily activities..
Avoid it till capital exercise...

https://www.thestar.com.my/business/business-news/2018/07/02/cimb-research-cuts-sapura-energy-target-price-widens-core-loss-forecasts/

There is nothing change in company in Feb and Mar but Affin Hwang made a drastic changed in the report and assumption in order to justify different price.. in Feb they said 0.73. In mar, they make different assumption and adjust the target price fr 0.73 to 0.4. Affin hwang is one of worst IB i can said and cant be trusted.. If you cant make a good report, please dont do it and show how stupid is Affin Hwang Dbs. It showed how unproffesional is your company...

I think it is much easy for fund managers to push Titan to IPO price RM 6.50 with lower PE and higher yield compare to press metal and hartalega. Once Titan included in klci, they will enjoy higher valuation for Titan, similar for price..