end May will have QR, hope investors push push

thanks to those sold... collected more and average down my cost

those cant hold until end may, better sell sell sell, so i can buy cheap cheap cheap

if no support already limit down

dont be bother with these goons, they just want to scare ppl to get cheaper price

dont think so, as najib didnt give BM to LKH

even toll abolish new govt need to compensate too... ekovest still make profit

just wait for may30th QR announcement lor... if good and got investors push then can only hope it goes up at least up to 1.10

Maybe ask ekovest apologise to Najib then ekovest may get a boost

impossible to change govt lar, our PM Najib is good, within 5 years i finally see progress in our nation, Mahatir i wont vote for him for sure, DAP MCA both same fight like children, those old men still hold on to their seats, should allow younger leader take charge and make progress

why worry already got order book value 13b wor

Wednesday, 11 Apr 2018

6:11PM IWCITY Financial year end net profit 48.121 million

who press down cant break 0.92 just now...

now see how eko recover back to rm0.90 first... then rm1, then rm1.1, then rm1.2, then rm1.4

strong buy reversing drop... afternoon goes all the way uppppp plz
after GE b4 raya will announce duke2A ke?

ya hope maintain momentum till closing... at least close around 90cents above
ekovest is solid, definitely can hold for mid and long term

stop posting about punishing minorities lah, wtf, a bunch of retard ke, no body hates money, u think punishing minorities who vote against botak is free ke, botak no like you bunch of retard who loves revenge ok...

botak is good man

If tomorrow cont to drop then will b another 10cents down... sigh

Next qr gonna be good but only announce end of may... by then we all dead ayam

US will lose this war... china has bigger domestic market... crazy trump

ayam sad today... it's ok only 100k paper loss

sigh tomorrow have to top up

0.835

same price now 0.89

ya ikan bilis ayam paper loss 100k very little compare to tycoons

botak and family sure worry now

hmm wonder aia pbmutual kwap hsbc will do what

better top up while u can get cheap cheap mother and child to average down your costs

maybe botak need to get johor sultan assistance to help and china baitian to help help

morning session ya... hmm so lets waits for afternoon, see got 45 degree up or not

both same price 0.915

tomorrow go shave botak become monk

0.88

iwc still resist guessing the minorities topping up as its price dropping

either deliberately let both eko and iwc match pricing, and propose merger
or take iwc private at super cheap price, then eko buy land from iwc
or just arbitrage by fund managers on eko, wait till warrants expired
retailers definitely stay away from both stocks

hope tomorrow rebound with limit up... hope is what i can do now... ayam sad

hmm unless some positive news for ekovest else have to wait after GE

KUALA LUMPUR: CIMB Equities Research is retaining its overweight outlook on the construction sector with Gamuda, MRCB, YTL Corp and Muhibbah Engineering as its favourites.

The research house said on Tuesday it believes construction stocks could be back in play. The current low share price levels from Jan’s peaks present a good re-entry point.

“We like Gamuda for its extensive rail tenders, MRCB for its election-play and highway divestment angle, YTL Corp for its massive order book upside, and Muhibbah Engineering for its attractive valuations and lucrative airport earnings.

“Key sector risk is a real disruption in job replenishment prospects brought about by the emergence of foreign contractors,” it said.

CIMB Research said high-beta construction stocks were among the least favoured in 1Q18, with the KL Construction Index falling 9% year-to-date, weighed down by the global stock market sell-down.

Share prices of contractors under its coverage took a hit, with a 16% decline from the “pre-election rally” peaks in January and down 6% year-to-date.

The recent 4Q17 results season in February and low contract awards year-to-date also contributed to the decline share prices of contractors. This was despite good earnings visibility and high orderbooks from 2017’s wins.

“The sector’s contracts outlook is still looking robust, as the government pushes on with the implementation of new public infra projects (Klang Valley tram, Sarawak LRT) and roll out the backlog of water infra capex.

“The concurrent timing of tender evaluations of other new mega rail contracts would only mean that contract flows are bound to regain strong momentum in the coming months.

“We believe 2Q18 could be the start of a revival of sector drivers for rail and other segments, including water infra, roads and housing,” it said.

CIMB Research said the evaluation of contract tenders for the ECRL, MRT 3 and HSR since 3-6 months ago was expected to shift into award phase this year.

It said it would keep an eye on 1) potential five major civil works packages from the ECRL (2nd phase procurement), 2) the turnkey/EPCC award for MRT 3 (Circle Line), and 3) PDP award for the HSR projects.

All three major packages are due for awards over the next nine months. The upcoming General Elections (GE) could accelerate the Pan Borneo Highway (Sabah) project.

“We see value emerging from the recent 2%-22% pullback in the share prices of Gamuda, MRCB, Muhibbah Engineering, Protasco and YTL Corp from Jan peaks; they now offer 16%-51% potential upside to target prices.

“Construction stocks under our coverage now trade at a 22%-30% discount to RNAV for the big caps, and 33%/upto-60% discounts to RNAVs for the small/midcaps, with an average CY18 average P/E of 13 times compared to the historical upcycle average P/E of 16-18 times,” it said.
TAGS / KEYWORDS:
Analyst Reports , Construction


Read more at https://www.thestar.com.my/business/business-news/2018/04/03/construction-stocks-could-be-back-in-favour-says-cimb-research/#GsZlLc8PAsWlC6v3.99

shit next QR annoucement is 30th MAY have to wait so long

sigh wait for next QR then see how lor

wow tan sri is bz... no wonder fund manager trying hard to press down price and collecting cheap ekovest shares

KUALA LUMPUR (April 2): The Malaysian Government has paid Ekovest Bhd's wholly-owned subsidiary EkoRiver Construction Sdn Bhd RM132.32 million up to February 2018 under the River of Life beautification contract.

The Federal Territories Ministry said in Parliament today river beautification work under the River of Life project is divided into two phases involving 10.7 kilometres along the Gombak and Klang Rivers.

In the ministry's written reply to Serdang MP Dr Ong Kian Ming, the ministry said EkoRiver has been appointed as contractor for three out of five beautification work packages under the River of Life project. The ministry said the three packages awarded to EkoRiver are worth some RM488.56 million.

The ministry said the River of Life beautification project's consultant AECOM Perunding Sdn Bhd has been paid RM101.62 million for its services since December 2011 until today.

"AECOM is tasked to design the entire river beautification project and supervise until the completion of the project with service fees that do not exceed a ceiling approved by the Ministry of Finance," the Federal Territories Ministry said.

Ong had earlier requested the Federal Territories Ministry to state the total payment made thus far to AECOM and Ekovest under the River of Life project.

botak out of cash ke, if FV is rm3 then his bloody networth wil also goes up 200%

really shitty...

Next move: An analyst who follows Kang Hoo’s movements closely suggests that he could now seek to take IWC private and merge it with the privately held IWH.

All eyes on Kang Hoo’s next move after two failed attempts to restructure IWC

PLANS by businessman Tan Sri Lim Kang Hoo to reorganise his companies has hit another setback.

The recent plan, which involves his construction and highway outfit Ekovest Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

taking over his property company Iskandar Waterfront City Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

(IWC), failed to gain support from the former’s minority shareholders at an EGM held on Thursday.

This plan by Kang Hoo had come about after an earlier one last year.

image: https://content.aimatch.com/default.gif

image: https://content.thestar.com.my/smg/settag/name=lotame/tags=Fatin_GSC_Insight_ALL,tsol,all


At that time, IWH was a favoured entity because of its mandate to develop Bandar Malaysia, the site of the high-speed rail or HSR terminal.

However, in May, two months after the proposal, the Ministry of Finance Inc nixed the mandate that was given to a consortium comprising IWH and China Railway Engineering Corp (M) Sdn Bhd.

Hence in October last year, the IWC-IWH merger proposal was called off and a month later, Ekovest proposed to take over the shares in IWC.

Central to the deal was the valuation of IWC’s 1,000-plus acres of land in Johor and whether minority shareholders of Ekovest believed they could gain some future value from that land.

At the EGM, which was held on Thursday morning, 69.2% of Ekovest shareholders voted against the proposed takeover of IWC, while 30.8% were in favour.

Kang Hoo and parties acting in concert who control just more than 50% of Ekovest are deemed as interested parties and as such did not vote.

To be sure, even prior to the EGM, there were signs that Ekovest’s minority shareholders would reject the proposal.

Three days prior to the EGM, the shares of Ekovest went up almost 3%, while IWC’s dropped by 9%.

Dealers had said this was the market already pricing in the outcome.

Another interesting fact is this – the offer letter to IWC shareholders to subscribe to the offer by Ekovest was distributed on March 12, which was two weeks prior to the meeting for Ekovest shareholders to vote on whether they wanted their company to buy IWC.

Some would argue that this was unorthodox. Why would the offer letter be dispatched to IWC shareholders prior to Ekovest shareholders approving the deal?

The proposal was for Ekovest to buy out 62% of IWC’s equity which is not owned by Kang Hoo.

Shareholders of IWC could opt for a cash payout at a price of RM1.50 per share or accept a one-for-one share swap.

Under the offer letter, shareholders of IWC had until April 2 to accept the offer by Ekovest.

As such, many IWC shareholders would have already submitted their application prior to the Ekovest EGM, which, in turn, could have driven up the share price of IWC.

After the meeting on Thursday, shares in IWC plunged by more than 16% to close at RM1.06 yesterday.

What’s next?

After the two corporate exercises by Kang Hoo to restructure his flagship property development company IWC have not come to fruition, the question is what is his next plan?

An analyst who follows Kang Hoo’s movements closely suggests that he could now seek to take IWC private and merge it with the privately held IWH. IWH is the parent of IWC and is the master developer of the land IWC owns in Johor.

IWH is 63%-owned by Kang Hoo through his private company, Credence Resources Sdn Bhd, while the remaining shares are held by Kumpulan Prasarana Rakyat Johor.

Later, Kang Hoo could seek an initial public offering of this group, and raise fresh funds to support its property development projects.

On the back of the envelope calculations, the deal would cost Kang Hoo about RM554mil for the 62% he does not own in IWC, based on the latter’s current share price at RM1.07.

While the shareholders of Ekovest are not keen on the acquisition of IWC, the management of Ekovest reiterated that it was a good deal for the company.

Speaking at a press conference yesterday following the EGM, Ekovest managing director Tan Sri Lim Keng Cheng said: “As far as the management is concerned, it is a good deal. But, as the management of Ekovest, we respect the shareholders’ decision.”

Additionally, Keng Cheng said the independent adviser had pointed out that Ekovest’s valuation was higher than IWC, and hence, the takeover offer that included a share-swap option was not favourable to the shareholders of Ekovest.

In the circular to shareholders, Ekovest was valued at between RM3.86 and RM4.08 per share, while IWC’s fair value was at RM3.06 per share.

https://www.thestar.com.my/business/business-news/2018/03/31/what-will-lim-do-next/

shit lah why still surpress the price...

KUALA LUMPUR (April 2): AllianceDBS Research said Ekovest Bhd (Ekovest) had on March 30 traded within previous day’s range to form an inside day bar before closing at the day’s low at 95.5 sen (down 5.5 sen or 5.44%).

In its evening edition last Friday, the research house said Ekovest fell back below the 50-day (red) MA line on March 30 to between the 20-day (blue) and 50-day (red) moving average lines.

“The inside day bar indicated a breather in the game play.

“Given the recent share price behaviour, the stock is likely to move between 93.5 sen and RM1.06 in the coming few days.

“A crossover of RM1.06 should see further price rise to the next overhead resistance at RM1.11. However, a fall below 93.5 sen would put pressure on the stock down to the subsequent support at 90 sen,” it said.

AllianceDBS Research said stock volume traded on March 30 was 16.2 million shares compared to the 3-month average volume of 12.5 million shares.

where got 500millions, 50m+ only

if botak got enough cash to buy from open market and take iwcity private, then will be good but how to pay huge interest for the landbank?

right now is for ekovest price to have FV 1.50 at least, then only he can convince market.

This article first appeared in The Edge Financial Daily, on March 30, 2018.
-A+A
KUALA LUMPUR: Investors rejoiced after shareholders rejected Ekovest Bhd’s proposal to acquire Iskandar Waterfront City Bhd (IWC), judging by the rebound in the former’s share price yesterday.

But that’s probably not the case for IWC shareholders, including its controlling shareholder Tan Sri Lim Kang Hoo, who saw within a year his third venture that failed to come to fruition.

In yesterday’s extraordinary general meeting (EGM), about 69.2% of votes were against the proposed takeover exercise, which involved the acquisition of a 62% stake in IWC through the exchange for either RM1.50 cash per share or a one-for-one swap of Ekovest shares for IWC shares.

Ekovest’s share price gained four sen or 4.12% to close at RM1.01, translating into a market capitalisation of RM2.16 billion yesterday. Some 49.1 million shares were traded, making it the fourth most actively traded counter on Bursa.

IWC shares, however, were battered, declining 17 sen or 13.2% to a 13-month low of RM1.12. It touched an intraday low of RM1.08. In comparison, its trading volume was smaller at about 8.3 million shares.

The rejection came as a surprise to many. Some analysts had already priced in the effect of the acquisition on the assumption that the deal would be approved.

Ekovest declined to reveal which shareholders voted against the proposed exercise, citing that it is confidential information.

According to Bloomberg, the top three largest shareholders of Ekovest are its chairman Lim (20.19%), Ekovest Holdings Sdn Bhd (12.19%) and Lim Seong Hai Holdings Sdn Bhd (6.62%). Lim and Lim Seong Hai are parties acting in concert.

Other substantial shareholders include the Employees Provident Fund (4.48%), Public Smallcap Fund (4.13%), AIA Bhd (3.54%) and Retirement Fund Inc (2.07%).

Ekovest said it respects its shareholders’ decision and will proceed with its existing construction business, although Lim said the management still views the proposal as a good opportunity for the group to diversify into property, considering the low purchase price.

“We recommended it because the valuation or the purchase was cheap. Unfortunately, the decision lies with the minority shareholders as it is a related, party transaction.

“If it wasn’t a related, party transaction, the deal would have been done already. It would have been a totally different story,” said Lim, who is also the executive vice chairman and a major shareholder of IWC.

AmInvestment Bank cut its earnings forecast for Ekovest for the financial year ending Dec 31, 2019 (FY19) and FY20, but raised its fair value (FV) on the stock to RM1.70 from RM1.35 following the latest development.

“Our previous forecasts consolidated earnings contributions from IWC as we assumed Ekovest to successfully acquire 62% of IWC, turning it into a subsidiary. We now exclude earnings from IWC,” said the research house.

It added that the higher FV is supported by lower net debt amid the absence of borrowings raised to fund the takeover and consolidation of IWC’s debt, as well as a 25% discount to reflect the risk premium on valuations arising from the acquisition, which it said was negatively perceived by the market.

AmBank said Ekovest’s fundamentals remain solid without IWC, highlighting the group’s RM13 billion construction order book, stable recurring income from toll concessions and its RM6 billion land bank in the vicinity of the River of Life project.

The takeover plan was met with criticism when it was first announced, with the counter tumbling as much as 22% on Nov 1, 2017, over concerns IWC would weigh down Ekovest’s balance sheet and profitability.

Some quarters perceived the proposed exercise as a bailout for IWC, which was vehemently denied by Lim, who pointed out that he still holds a big stake in IWC and Ekovest, and therefore had the best interests of the companies in mind.

The proposal came after Lim aborted the merger plan between IWC and its sister company Iskandar Waterfront Holdings Sdn Bhd (IWH) in late October last year — five months after TRX City Sdn Bhd terminated the contract to sell its 60% equity interest in the Bandar Malaysia project to IWH CREC Sdn Bhd for RM7.41 billion.

IWH CREC is a 60:40 joint venture between IWH and state-owned China Railway Engineering Corp (M) Sdn Bhd. Lim holds a 63% stake in IWH, while Kumpulan Prasarana Rakyat Johor Sdn Bhd owns the remaining 37%.