https://www.theedgemarkets.com/article/gadang-varies-jv-terms-rm18b-project-partner-seeks-more-funds-complete-it

KUALA LUMPUR (March 30): Gadang Holdings Bhd has proposed to vary certain terms of its joint venture agreement (JVA) involving a RM1.8 billion integrated project being developed on its land in Johor Bahru, chief of which is a reduction to its entitlement from the project from a maximum of RM324 million to RM250 million.

Up until March 21 this year, the project's developer, Capital City Property Sdn Bhd (CCPSB), had paid RM149.79 million to Gadang's wholly owned Achwell Property Sdn Bhd (APSB), which owns the land, for the settlement of the initial entitlement sum. Under the proposed variations, the revised remaining entitlement will be RM100.21 million, which will now be satisfied via the contra of 408 identified, completed retail units that have not been sold (identified retail units), Gadang announced in a stock exchange filing.

In return, APSB agrees to transfer the legal and beneficial ownership of the land to CCPSB, who intends to use it to raise additional financing to complete the remainder of the project, and to fund the operations of its retail component. Upon the first drawdown of the facility, CCPSB will pay APSB a covenanted sum of between RM20 million and RM35 million, depending on the amount of CCPSB's approved loan. On receipt of the covenanted sum, APSB will then select from the identified retail units and return them to CCPSB.

In addition, APSB will be granted a put option which gives it the right to sell and require CCPSB to buy any unsold units during a stipulated option period, at a price that will enable APSB to realise a total cash of RM312 million at the end of the period. At the same time, CCPSB will get a call option that gives it the right to buy and require APSB to sell to it the remaining units during the option period at the same option purchase price.

APSB, who inked the original JVA with CCPSB in December 2013, on Friday entered into a conditional settlement agreement, a conditional put option agreement, and a conditional call option agreement, to incorporate the proposed variations.

Gadang will be calling for an extraordinary general meeting to seek its shareholders' approval for the proposed variations.

Gadang said the proposed variations stemmed from a request from CCPSB, who is responsible for the overall development, construction and funding of the project, to transfer the land to CCPSB to raise additional financing to complete the project, the progress of which has been affected by the slowdown in the local property market.

Only the retail component is completed to date, while the completion of the entire project is expected to be delayed and completed only after the original due date of Feb 25, 2020, it said.

The weak demand and the oversupply of office has also led to the revision of part of the projects, in particular the cutting out of three office towers. The original two 15-storey hotel suites have also been reduced to one 16-storey tower, with the addition of one 18-storey serviced suites tower, and three 15-storey serviced apartments.

Gadang said the settlement agreement and the contra of the identified retail units may lead the group to enjoy potential future capital appreciation, as the value of the identified retail units in the contra is about 40% lower than the current transacted price of the units.

"However, in the event APSB is unable to sell the identified retail units to third party purchasers, the option agreements provide APSB with the opportunity to realise its investment in the identified retail units at the option purchase price. Further, the settlement agreement is also conditional upon CWL (Capital World Ltd), the ultimate holding company of CCPSB providing a letter of guarantee to APSB to guarantee the performance and payment of the option purchase price by CCPSB under the option agreements," it added.

If approved, the proposed variations are expected to be implemented by the third quarter of this year.

益纳利美昌也收到几项询问，目前处于初步谈判阶段，该公司披露，在贸易战结果明確前，一些潜在及现有客户將保持观望，部份订单估计会被推迟。

与此同时，该公司正扩充其射频测试產能，以应付美国旗舰智能手机的推出和5G时代的到来。

http://www.orientaldaily.com.my/s/284758

2 sen dividend received today. Hehe..

At glance the TP2.90 given is very ridiculous. But now I try to figure out how the TP derive from:

If PER is 10, EPS is 29 sen or 659 mil net profit based on 2.2 bil outstanding shares.
If PER is 8, EPS is 36 sen or 206 mil net profit based on 2.2 bil outstanding shares.
(assuming revenue remains as the same as FY2018)

Basically i beliv FY2019 revenue and earnings shall see some improvements given the current weak crude oil price, better plant utilization and cash rich position. Balance sheet still strong and able to sustainable even the economy is slowdown.

2 sen dividend received and thanks for another 3 sen dividend declared today!

Prospects:
Looking ahead, growth outlook for the Manufacturing segment is expected to moderate and soften in view of the global slowdown in demand from customers in the electronical and electronics (E&E) sector. With softening global trade and heightened uncertainty, the management is actively seeking new opportunities to grow and expand our customer base while driving efforts to prudently manage operating cost and cash flow to better contend with stiffer competition. For Construction and PD, management anticipates higher progress billing for the project in Kuchai Lama in the coming quarters besides cautiously seeking out new projects in view of the current property overhang. Overall, barring any unforeseen circumstances, the Board of Directors is optimistic that the performance of the Group shall remain positive for the remaining quarters of the financial year ending 2019.

http://malaysiastock.biz/Company-Announcement.aspx?id=1129974

PAT is getting improved q-to-q since 3Q18. This is good sign.

砂推巨型发展计划·金轮可受惠

金轮企业(KIMLUN,5171,主板建筑组)作为砂拉越泛婆罗洲大道的承包商之一，丰隆研究预计其有望成为砂拉越巨型发展计划受惠者之一。

丰隆研究指出，该计划的90亿令吉发展开销是取自砂拉越州政府储备金，料可免受于联邦政府削减开销的风险。

金轮企业管理层的建筑订单补充目标为6亿至8亿令吉，但基于大选后合约取获速度放缓，丰隆预计其可取获5亿令吉建筑订单补货。

制造业务方面，料金轮企业可攫获8000万至1亿2000万令吉之间的订单，当中包括延期的新加坡捷运铁道网络和南北大道。

丰隆预计，金轮的制造业务收入将增加并抵销建筑业务疲软，而制造业务的高赚幅将维持公司整体盈利平稳。

基于2019财政年8倍本益比为基准，丰隆维持对其目标价和评级。

https://www.sinchew.com.my/content/2019-03/26/content_2028187.html

Q4 is considered as very good!
19Q4 GP 70m versus 18Q4 GP 77m, drop by 8.4% only.
It made full year GP margin of 39% higher than FY2018 of 31%.
But no explanation of why other expenses hike to 26m compared to 18Q4 of 10m only.
Tax expense of 41m also higher than last year 36m despite PBT drop.
Anyway, less exciting but within estimated result. FY2020 will be the better year ahead once LRT3 resumes operation.

Borrowings burden

The group expects to turn itself around this year. Among other issues, it says labour shortages are being addressed by increasing mechanisation while ramping up its labour recruitment drive this year.

Overall, the planter expects FFB output to rise this year with the full-year consolidation of production yield from the Pertama estates. “As Pertama’s production yield improves, unit costs of production are expected to ease in FY2019. Production costs are expected to be lower in FY2019 compared with FY2018.”

It also expects CPO prices to recover and average RM2,450 per tonne this year, supported by an expected reduction in palm oil stocks thanks to Indonesia’s increased biodiesel mandates.

The group also expects lower import duty on crude and refined palm oil in India, as well as China’s positive outlook from the trade dispute with the US to boost CPO prices this year.

However, Boustead Plantations still needs to grapple with its relatively high borrowings — especially short-term — until CPO prices recover and yield from its new estates improves.

The group expects to incur roughly RM56 million in interest expenses this year, which it says remains manageable.

And borrowings are poised to increase soon. The planter is buying another 4,915.25ha of plantation land spread across 17 estates, plus a 75-tonne-per-hour mill.

Of the land area, 4,444ha are planted. That means the average price per planted hectare was RM79,216 — among the highest seen in recent years, according to Maybank Research last August.

Coupled with an old average tree age of 19 years, analysts had raised doubts as to whether it is a prudent acquisition.

The group confirms that of the RM397 million price tag, RM350 million will be via borrowings and that financing has been secured. The deal has seen some delay, but is expected to conclude in the first half of this year.

Asked about the additional short-term cash strain from the looming acquisition, Boustead Plantations says it is taking a long-term view of the return prospects given the scarcity of plantation assets in Malaysia.

In the short term, it is counting on its land disposal in Seberang Perai Utara, Penang, to ease the cash strain on its balance sheet. Slated for completion by 1QFY2019, the group expects RM122 million in proceeds, which should see the return of dividends.

It is also looking to review its short-term financing by increasing the financing tenure over the next 12 months, which means it may be able to lower the interest costs.

“As with all businesses, there are cycles when we have to take on business decisions that may not have an immediate and direct yield,” Bousted Plantations says.

“However, in the long term, given our expertise in the sector and vast proven track record, we expect these acquisitions to contribute handsomely to our bottom line.”

https://www.theedgemarkets.com/article/boustead-plantations-plots-turnaround-after-historic-loss

HIT by high costs and falling crude palm oil (CPO) prices, and digesting a big RM750 million land acquisition, Boustead Plantations Bhd sank to a historic loss in the financial year just ended. But the planter expects the situation to improve this year, although it still has one major land acquisition — with a RM397 million price tag — to pay for soon.

The group tells The Edge that it expects CPO prices to recover, production costs to ease and productivity to improve.

“We may consider lightening our balance sheet through the monetisation of non-core assets as interest expenses are estimated at about RM200 to RM250 per tonne of CPO,” says a company spokesman via email.

With the monetising of non-core assets “with high development potential” on the cards over the next three to four years, the subsequent debt reduction may yield interest savings of RM80 to RM90 per tonne of CPO in the first two years, it adds.

To recap, Boustead Plantations posted a net loss of RM51.78 million for the 2018 financial year ended Dec 31 (FY2018), its first full-year loss since listing in 1973. Revenue fell 23.2% year on year to RM584.01 million.

Its top line came under pressure as CPO prices continued to decline last year, from about RM2,500 per tonne in January to as low as RM1,718 by November.

Costs were also high — the planter was only profitable for 1QFY2018. Maybank Research estimated that the planter’s all-in production costs came to RM2,510 per tonne last year.

The historic loss meant it did not declare a dividend for 4QFY2018, breaking its decades-long track record of paying quarterly dividends.

To be fair, the situation was not unique to Boustead Plantations as some of its peers were also facing a financial squeeze due to similar factors.

However, the falling CPO price environment came at a bad time for Boustead Plantations, which had been shopping for new plantation assets.

One of them was its RM750 million purchase of 11,579.31 acres of plantation land located across 42 parcels in the Beluran district, Sabah, which was completed and paid for on May 16 last year.

The estates were sold by Pertama Land & Development Sdn Bhd, a unit of Dutaland Bhd.

In that quarter, it added RM703.26 million in borrowings to its balance sheet. Between March 31 and June 30, short-term borrowings nearly doubled to RM656.48 million.

It also recorded RM380.81 million in long-term borrowings — the firm did not have long-term borrowings as at March 31, 2017.

As at Dec 31, 2018, its long-term borrowings stood at RM373.09 million, while short-term borrowings amounted to RM744.6 million. Net gearing stood at 0.4 times.

According to Boustead Plantations, the financing costs for the Pertama estates alone came to RM23 million last year, or about RM100 per tonne of CPO.

The group also had to incur start-up expenses for the Pertama estates operations that led to about RM30 per tonne of CPO in net loss, excluding amortisation and financing costs, it added.

In addition, it incurred amortisation charges on land and bearer plants — due to the first-year adoption of the Malaysian Financial Reporting Standards (MFRS) 141 and 116 effective January 2018 — of about RM400 per tonne of CPO last year.

“Excluding the exceptional charges (from MFRS adoption and Pertama estates), our adjusted all-in production costs (would have been) below RM2,000 per tonne in FY2018,” the group says.

The higher average cost was also due to a shortage of harvesters, which led to a 1% y-o-y drop in fresh fruit bunch (FFB) production last year.

Last Thursday, Boustead Plantations’ shares closed at 81.5 sen apiece. The stock has fallen sharply from its one-year peak of RM1.34 per share in mid-May last year to as low as 69 sen by December — a multi-year low.

Take note for last sentences:

Still, he warns that VS Industry may see a slight decline in earnings for FY2019 due to the six-month order gap from the European client between February and July this year.

“But we expect a double-digit recovery in both top line and bottom line come FY2020,” he states.

https://www.theedgemarkets.com/article/usbased-bissell-brings-welcome-relief-vs-industry

Maybe tan81 can further explain where is the source that Lctitan plant closure for 2 weeks?

tan81 Lctitan factory affected by pasir gudang pollution as well, will close temporary until further notice. Assume 2 week closure, will it affect eps badly?
16/03/2019 14:48

Hint:
The Likas Project and the UMS Project which are currently being carried out by the Group’s
60%-owned subsidiary, Jaycorp Engineering and Construction Sdn Bhd (“JECSB”) are expected
to be completed in the coming months and should contribute positively to the Group’s results.
The growth of the construction and property development sector in Sabah should enable the
Group to diversify its revenue and earnings streams. The Group intends to continue actively
bid for more construction projects going forward.

Very surprise that 3 sen dividend is given. Pls note that first 6-mth profit already exceed last year result. FY2019 could be the best performance for JayCorp :)

KUALA LUMPUR: Seremban-based property developer, Matrix Concepts Holdings Bhd, ended financial year 2018 (FY18) on a high note and expects to at least match that performance this financial year ending March 31, 2019 (FY19) while also targeting sales of RM1.2 billion.

Net profit for FY18 rose by 14.3% year-on-year (y-o-y) to RM211.83 million, while revenue grew 4.8% y-o-y to RM812.29 million.

The group has already achieved RM1.14 billion in sales for the cumulative nine months ended Dec 31, 2018 (9MFY19).

“I’m confident we can have a sales growth of over 10% going forward. We have always been prudent in making sure that our margin is maintained at some 20%,” its executive deputy chairman Datuk Lee Tian Hock told The Edge Financial Daily in an interview.

He sees affordable housing driving the group’s earnings and sales growth in FY19.

https://www.theedgemarkets.com/article/matrix-expects-fy19-performance-least-match-fy18s

KUALA LUMPUR: South Korean chemical company Lotte Chemical Titan Holding Bhd is providing its assistance and expertise to help ease the chemical pollution in Pasir Gudang.

Its president Lee Dong-woo said about 20 of its employees have been deployed to provide assistance.

“We are very sad over the chemical dumping incident in Johor. We have mobilised assistance to schools and homes in the affected area,” he told the media on the sidelines of the Malaysia-Korea Business Forum here.

He also said that as Lotte Chemical Titan has vast experience in chemical incidents, it is willing to help in the clean-up once the type of chemical that caused the pollution has been identified.

“Right now we have helped to clean up schools that have been affected by the chemical pollution. We also have deployed our ambulance and equipment to the affected area,” he said.

As of yesterday, all 111 schools in the Pasir Gudang area have been closed while 506 people have sought treatment, including 166 being hospitalised with nine in the intensive care unit. – Bernama

https://www.nst.com.my/news/nation/2019/03/469176/lotte-chemical-titan-providing-assistance-over-pasir-gudang-pollution

YTD Gadang-WB return > 100%.

Volume today so high. Buy queue > sell.

https://klse.i3investor.com/blogs/nanyang_stock_expert/197440.jsp

Clap to this kind of analyst. TP 97 sen is given and successful to drop down share price today!

Malacca Securities Sdn Bhd analyst Kenneth Leong said Gadang Holdings, WCT Holdings and Fajarbaru Builder could also see some interest given their construction capabilities.

“These companies have rail project experience so we wouldn’t want to rule out the possibility of them tendering for packages,” he said over the phone.

https://www.theedgemarkets.com/article/ten-stocks-look-if-ecrl-revival-materialises

https://www.thestar.com.my/business/business-news/2019/03/08/govts-200...

Key words:
“Proceeds from the offering will be used by the Government for its general purposes, financing development expenditures that among others include building schools, hospitals, public roads and utilities,” it said.

https://www.thestar.com.my/business/business-news/2019/03/08/govts-200b-yen-samurai-bond-priced-at-yield-of-0pt53pct/

Key words:
“Proceeds from the offering will be used by the Government for its general purposes, financing development expenditures that among others include building schools, hospitals, public roads and utilities,” it said.

Volume keep increasing, seems possible to break 1.20 resistance level very soon.

sell at 0.87 today.

Buy at 0.87 today.

近期跟进这家公司
感觉分析员和散户都被他们懵逼了

而据说 Naim 也和砂拉越政府有关系，所以当然也会从 Pan Borneo 这个大型项目中拿到多块肉。

讲到现在的建筑商还是靠朋党关系取得合约
希盟政府不是已经施行open tender吗？

How can we buy exchangeable bonds from KLSE?

Sold all at 0.295. GL.

Top up at 0.635 today.

Lii Hen’s FY18 core earnings of RM58.4m (-24.7%YoY) came in within our expectation, accounting for 101.1% of our full-year forecast. The group posted higher sales volume in 4Q18 (+6.4%QoQ; +19%YoY) but was weighed down by stronger ringgit. Moving forward, under the lower cost environment, we opine that margins will improve. A DPS of 2sen was declared. We maintain our earnings forecasts and a BUY rating with an unchanged TP of RM3.66 as we pegged to an unchanged PE multiple to 11x of FY19 EPS.

In line. Lii Hen’s FY18 core earnings of RM58.4m (-24.7%YoY) came in within our expectation, accounting for 101.1% of our full-year forecast.

Dividend. Declared 4th interim DPS of 2.0 sen (ex-date: 11 Mac 2019) bringing YTD dividend to 11.5sen, translating to a dividend yield of 4.1%.

QoQ. Revenue increased 6.4% from USD47m to USD50m, however thanks to the stronger USD against MYR (4Q18: RM4.17/USD vs 3Q18: RM4.08/USD), sales in terms of ringgit improved by 8% to RM216.8m. Core earnings ballooned by 39.7% to RM22.1m on higher sales volume and lower effective tax rate.

YoY. Revenue grew strongly by 19% to USD50m in 4Q18 (from USD42m in 4Q17), however this only translated to a 17.3% in terms of ringgit revenue, as there was a slight decrease in local sales by 2.3%. Core earnings increased by 43.3% due to higher sales volume and lower operating cost.

YTD: In FY18 the group achieved a 21% sales growth in to USD192m, however sales in ringgit terms was only at 11.7% due to the stronger RM against USD (FY18: RM4.03/USD vs FY17: RM4.29/USD). However, core net profit declined by 24.7% to RM58.4m, mainly attributed to higher operating cost, chiefly from the implemented foreign labour levy (effective Jan-18).

Outlook. Moving forward, we opine that Lii Hen will benefit from (1) lower engineered wood selling prices (lower cost of production), and (2) stronger demand from US (result of US-China trade war). We also think that the group will be less affected by the labour levy in FY19 as they had the year to adapt to and adjust their ASP.

Forecast. Unchanged. We maintain BUY, with unchanged TP of RM3.66 pegged to PE multiple of 11x of FY19 EPS. We continue to like Lii Hen for its strong balance sheet (net cash per share 35.8 sen as at 4Q18), generous dividend payout (yield of 6.4%) and ongoing efforts to adopt effective cost management.

Source: Hong Leong Investment Bank Research - 22 Feb 2019

Impossible to disclose because this is P&C information. Otherwise SKP Resources come to offer more competitive pricing agreement to BITCBV,...

goodiewilly Appreciate so much of Unclelimhuat sharing.
my personal view: The Agreement does not specify contract volumes and amounts. The purchase of Products from Guardian is on a non-exclusive basis, i.e. BITCBV reserves the right to engage other suppliers to provide substitutes for the Products.

Why not they state that their estimation is RMx billions and occupy xxx,xxx sf of production capacity etc..bigger than Dxxxx capacity. ..hahaha i know its not possible.

https://klse.i3investor.com/blogs/PublicInvest/195331.jsp

TP RM1.35? Are you kidding?

Julie not listed in KLSE is the loss to the investors.

CIMB Research downgrades Inari to Hold, target price RM1.65

KUALA LUMPUR (Feb 22): CIMB IB Research has downgraded Inari Amertron Bhd to “Hold” at RM1.61 with an unchanged target price (TP) of RM1.65 and said Inari’s 1HFY6/19 results were in line at 49%/48% of house/Bloomberg consensus.

In a note yesterday, the research house said it expects minimal improvement in 2HFY19 due to sluggish smartphone market.

“Core net profit fell 18% y-o-y in 1HFY19 due to lower utilisation following weak sensor and RF demand and unfavourable forex movement.

“Downgrade to Hold with an unchanged RM1.65 TP in view of the recent surge in share price. We prefer Malaysian Pacific Industries Bhd for exposure to the technology sector,” it said.

http://www.theedgemarkets.com/article/cimb-research-downgrades-inari-hold-target-price-rm165

20 mil capex is for the whole year, not during this quarter.

martinchua88332 liihen spent 20 mil to upgrade ppe ( property ,plant and equipment) during the quarter. they will distribute good dividend for the next quarter.
21/02/2019 22:19

Inari's commentary that 2nd of this FY is expected to be similar performance as 1st half year. So now 1st 6-mth net profit is 115 mil, annualized net profit is about 230 mil, dropped by 11% compared to FY2018. Dun think this is bad result as FY2018 including the contribution from a subsidiary named Ceedtec which already disposed in last FY.

Meanwhile, you can check that Inari GP and profit margin remain consistent as previous quarters. Once the sales pick up, improving earnings are expected in the following quarters.

Very satisfactory QR, but surprisingly just giving 2 cents dividends only?
Hopefully they will declare another higher final dividends any soon.

Overall for the new financial year ending 30 June 2019, given current geo-political and
geo-economic uncertainties, we see some challenges in our overall business in particular,
the RF segment for the flagship smartphones while the optoelectronics segment continues
to show resilience. For the second half of our financial year, the Group expects to maintain
similar performance from continuing manufacturing activities as the first half, while
continuing to work towards delivering positive performance with focus on managing costs
and margins. This is barring any negative impact from unfavorable forex rates for the Group
resulting from the decline in the US Dollar due to the rolling back of the Federal Reserve’s
previously expected rate hikes in 2019. The Group is also working towards implementing
Industry 4.0 on a bigger scale throughout the entire Group as to achieve greater efficiencies
to drive down the manufacturing costs in the near future.

The mgmt gives some hint for the 2nd half performance this year.

http://malaysiastock.biz/Company-Announcement.aspx?id=1121976

You must be held for few years.
my average cost is 2.58.

Fabien Extraordinaire Favco is a top notch company. my average cost is 2.265.
21/02/2019 10:07

Favelle Favco units secure six crane supply jobs worth RM61.1 mil

KUALA LUMPUR (Feb 20): Favelle Favco Bhd’s units have secured six contracts to supply tower cranes and offshore cranes to various clients for a cumulative sum of RM61.1 million.

Its units Favelle Favco Cranes Pty Ltd, Favelle Favco Cranes (USA), Inc and Favelle Favco Cranes (M) Sdn Bhd received the purchase orders or letter of intent for the contracts between November 2018 and today.

There are four contracts for the supply of tower cranes. One is expected to be delivered by the first quarter of 2019, while two are to be delivered by the second quarter; the fourth is scheduled for third quarter delivery.

There are two contracts for the supply of offshore cranes, and both are expected to be delivered by end-2019.

The contracts are expected to contribute positively to the earnings and net assets of the company for the financial year ending Dec, 31 2019 and beyond, it said.

Favelle Favco closed five sen or 2% higher at RM2.55, for a market value of RM564.11 million.

http://www.theedgemarkets.com/article/favelle-favco-units-secure-six-crane-supply-jobs-worth-rm611-mil

Matrix only invest for its dividend only?
Capital appreciation seem quite difficult?

Definitely this is the rubbish talk.

If you invest Matrix IPO price @ RM2.20 with 1,000 units in year 2013, after 3 times bonus share, you accumulate 2,188 units with RM1.006 average cost. Compared to today closing price @ RM1.97, your capital gain is or RM2,109.38 or 95.88% within 6 years.

Plus all the time Matrix declares dividend every quarter, you earn total dividends with RM1,673.41 or 76.06% within 6 years.

With the record high of RM1.4 billion unbilled sales on hand, coming results shall be sustainable despite the lower profit margin, but it makes sense that profit margin of industrial properties is higher than affordable-priced residential properties.

http://www.theedgemarkets.com/article/gadang-seen-eyeing-opportunities-roads-ecrl-hospitals

Start goreng today.

https://klse.i3investor.com/blogs/kianweiaritcles/193900.jsp

Bcoz his article is not interesting at all that's why attach pretty photos to attract people coming in.

HLG target price = RM1.88

We refer to our announcements on 7 September 2015, 23 October 2015, 2 November 2015, 17 October 2018 and 5 November 2018.

George Kent (Malaysia) Berhad wishes to announce that MRCB George Kent Sdn Bhd has today entered into a Contract in relation to the Project with Prasarana Malaysia Berhad.

This announcement is dated 25 January 2019.

http://malaysiastock.biz/Company-Announcement.aspx?id=1116932

http://www.orientaldaily.com.my/s/275183

Noobiebet you are very lucky, managed to buy at the lowest price :)