There is definitely without doubt that there is a big SELLER out there.
I can only think of two possibilities - Mr Koon selling ( or selling from his "other" account).
Or possibly even Tan Sri selling (or forced sold - worst case scenerio)
Guys and gals,Take great care! It's serious!
Hope I'm wrong here!

Finally hopefully, we may see light at the end of the tunnel.

Eversendai Offshore loads out first self-propelled jack up rig (May 2 article)
https://www.pipelineme.com/news/regional-news/2017/05/eversendai-offshore-loads-out-first-propelled-jack-up-rig/
Eversendai puts its first liftboat on display (May 5 article)
http://www.offshoreenergytoday.com/eversendai-puts-its-first-liftboat-on-display/
ALE complete transport, load-out and jacking-off of a liftboat in Ras Al Kheimah, UAE
https://www.vesselfinder.com/news/9940-ALE-complete-transport-load-out-and-jacking-off-of-a-liftboat-in-Ras-Al-Kheimah-UAE

The liftboat ARYAN is targeted to be delivered to Vahana Offshore in the third quarter of 2017. Eversendai’s Nathan said that building these liftboats in their Ras Al Khaimah yard …
Why is this important?
Because of the size of the contract.
Eversendai gets RM580mil job to build lift-boats
http://www.thestar.com.my/business/business-news/2014/05/27/eversendai-gets-rm580mil-job-to-construct-liftboats/?style=biz
More so if the contact was in USD $180m
http://worldmaritimenews.com/archives/125251/eversendai-bags-liftboat-contracts/

Of the 3 brokerages covering Eversendai, Kenanga was the most bearish stating …
“potential risk of impairments from the lift boats …”
The problem with Tan Sri Nathan is that he is very stingy in providing timely disclosures.
And most times shareholders are kept in the dark, hence lack of confidence.
I initially thought that the liftboat project had stalled until I saw the time-lapse video presentation at Eversendai’s AGM.
Now further confirmation, we can see that the 1st liftboat have been loaded-out to sea.
According to Tan Sri, the Aryan liftboat is expected to be fully released to Vahana Offshore in the third quarter of 2017 which is about now.
The 1st liftboat has bank financing, hence we hope Eversendai will not have problem collecting (RM580m / 2) x 80% of the remaining payment = RM232m from Vahana.
The receivables should come down proportionately once payment is received.

When do you consider a super investor a real super investor?

In Sendai’s case, if you check up Sendai’s annual report 2016, Citigroup Nominees (EPF) held 51,294,600 shares or 6.63%
In contrast, in annual report 2017, Citigroup (EPF) just vanished. You last hear from EPF on 20th Sept 2016 when they announced that they ceased to be a substantial shareholder.
That means they sold from 5% to ZERO.
I always dislike EPF for whom I consider a bully. They are crazy when they are bent on selling. From IPO price of RM1.70, they sold until 40s.
Are you a real super investor to buy when fund managers such as EPF sell?

Presently, Kenanga and HLI recommend SELL for Sendai. Do you dare to go against their recommendations?

Another example was VS Ind. End of 2013, VS was about 30s (corrected for bonus and division) and nobody wanted to Buy.
Fast forward, today’s price 2.29, all the analyst (see i3investor research) are shouting Buy (PB,MBB, AMMB, JF, etc)

So what are the characteristics of a real super investor? He definitely is not one who follows the herd and mumblings of analysts. He chooses a really down-beaten stock which halved from RM1.70 to 85s and halved again to 40s. He buys when no one dares to buy. Hence his average cost is very low.
Will he “Pump and dump” I think not as this is more suited to syndicates. Syndicates normally do not buy past the 5% level so they do not have to report themselves as substantial shareholders. They use channels such as i3investor to pump it up and sell to the unsuspecting and no one is wiser.

A “Real” “Super Investor” cannot off-load to retail investors because the shear volume will cause the price to collapse. So a real super investor must off-load only to fund managers(and analysts) such as those who scream Buy as in VS Ind today.
For that to happen, Sendai really has to really turn around and make plenty of $$$ in future.
Will that happen? Your guess is as good as mine. Do you have a crystal-ball? Maybe the real super investor has one. Haha! Good evening!

Placement to Macquarie Bank Limited
The issue price of the Placement Shares will be fixed at a later date with a 10% discount
To be implemented in multiple tranches within 12 months
Subscription Date : Any date that Macquarie Bank sends a subscription notice to Eversendai
Subscription Price : On each subscription date, the subscription price of each Placement Share shall be an amount equal to the VWAP of the Shares as traded on Bursa Securities during the 5 consecutive trading days immediately preceding the relevant Subscription Date less 10%
Committed Subscription : Meaning ???
Subscription Expiry Date : Subscription Agreement will expire 12 months

Good or bad?
Good is that Macquarie Bank is willing to invest in Eversendai which imply confidence which is much needed for this company (apart from Mr Koon)
The issue price has not been fixed. So it may go up. It may also go down.
Multiple tranches within 12 months. That means the placement may be broken to several tranches.

My question is why should Macquarie be given the advantage of a 10% discount. (say 98s)
To be fair to minority shareholders, they should be made to acquire in the open market just like everyone else (same with what Mr Koon did)
Eversendai’s share price has recently been quite stable. Is it just a coincidence?
(Mr Koon’s shareholder had remain at 8.30% since 19th July up to this announcement)
With this placement of 10% to Macquarie, Macquarie “out of the blue” becomes the 2nd largest shareholder ahead of Mr Koon.
How will Eversendai's share price go from now onwards? A $$$ question!
To Mr Koon (if you are reading this) I hope you can share your thoughts. Thank you

JUL 29
Power Talks: Tan Sri AK Nathan
by Star Media Group - Power Talks

https://www.eventbrite.com/e/power-talks-tan-sri-ak-nathan-registration-36220762275

Mr Koon's posting on JAKS (June 26th) should also apply to Sendai ....
....the number of shares owned by the thirty largest shareholders should not be overlooked as it tells you the maximum percentage of shares left floating in the market currently. The lesser number of shares circulating in the market, the faster the share price soars when the business is performing better in the future. Further, you will be well-rewarded if you spot any super investors or gurus owning the stock and if you buy it below its intrinsic value.

This earlier article (June 7) supports "digger888"s article ....

Eversendai executive chairman and group managing director Tan Sri A K Nathan said it is business as usual at the group’s fabrication facility in Qatar, as its operations there do not have any dealings with the other countries that have cut off ties with Qatar.

“The Qatar fabrication facility executes projects for the Qatar market and not for exports, so there is no impact to our businesses there as it is pretty much centralised.

“We also view it as an advantage — we could bid for jobs given to one of the countries that have cut ties with Qatar, since we have a factory there,” he told The Edge Financial Daily.

Hong Leong Investment Bank research analyst Jeremy Goh said Eversendai’s exposure to Qatar is minimal. “Eversendai’s exposure to Qatar is not too significant. About RM140 million of its RM3.2 billion or 4% [of its] order book is based in Qatar. Generally, while there is exposure in Qatar, it is not concentrated there per se in the bigger scheme of things,” he told The Edge Financial Daily.

This article first appeared in The Edge Financial Daily, on June 7, 2017.

For the benefit of those who is wondering what happened during Thu afternoon AGM.
[I must qualify myself that what I say is my personal opinion and your decision to buy or sell is at your own risk]
The meeting went smoothly in a smallish Istana hotel venue as there were not many shareholders attending. Tan Sri said it had been a very painful couple of years for him, which I replied was the same for us shareholders. He believes that the worst is behind as most of the possible losses have been written off.
Q1 just reported is in the black and he thinks that Q2 (and onwards) should be better.
The video presentation of the jobs won was rather impressive. It included the part showing the offloading of Liftboat No1 into the sea. More work is being done after that and hopefully we get payment by Oct which I believe will reduce the gearing of the company.
The star at the AGM was none other than Mr Koon. He was very vocal during the AGM and he reminded Tan Sri that the boss of the company is the shareholders. Mr Koon (being previously in the construction industry) stressed the importance of a good margin otherwise all the jobs won are meaningless. Mr Koon even took the opportunity to give shareholders a short investment talk during the tea break-break.
Tan Sri was very humble (which I thought compared to other CEOs at other AGM). He joined us, Mr Koon and other shareholders and we talked while we eat.
Mr Koon (if you are reading this) I thank you for making this AGM very memorable. You have given us a new confidence. I personally will not be going to sell my shares and I think I will enjoy the ride with you. Thank you again.

FYI....This morning at the AGM, I asked Datuk Kama and he clarified that 67s is his own personal figure and not an official figure. So I reckon the actual breakeven figure for many investors might be higher than that. Tq

I thought that Kama's break-even price of 67s was too low.
Anyone good at working out Black-scholes Option price analysis.
Exercise price of warrant 46s
Maturity 8/6/2020

Finally ... UAE’s Eversendai Offshore has loaded out the first of two liftboats
http://www.offshoreenergytoday.com/eversendai-puts-its-first-liftboat-on-display/

HLG's report on 25/10/16 ...

•Liftboats still a concern. Eversendai is currently constructing 2 liftboats worth USD180m for its holding-co, Vahana via an RPT. Completion on the 2 liftboats stands at 85% and 55% with deliveries scheduled for 1Q17 and 3Q17. Under the contract terms, a 20% upfront payment has already been made to Eversendai with the balance 80% upon delivery. The management of Vahana guides that it is in the midst of negotiating a JV agreement with some European parties to have the liftboats chartered out. Until this has been finalised, we remain concerned on the potential payment risk should its financing not materialise.

This was my primary concern that's why I ask Tan Sri's son who is incharge of O&G regarding this during the last AGM. He said that there is a glut of oil rigs but not lift-boats. At that time he said there were already many inquiries to lease the lift-boats.
Frankly I am not very certain. But I hope what he said is true!

To farcup7, during the last AGM I complained to Tan Sri regarding why Eversendai do not make timely announcements. He replied that some clients don't like publicity.
Nevertheless I think they are breaking KLSE rules.

The capitalisation of Tek Seng at present is about 200m inclusive of its solar business. So if the taiwanese invest 100m they should by right already own half of tek seng. Am i getting my calculations right?

Chartmaster. Any chance syndicate 1 is related to syndicate 2? They take turns to goreng? At this point do you think they stop the music? I don't think they can suck in enough new people to unload at this point. Maybe something big still we do not know?