THIS IS THE REASON WHY SC, SECURITY COMMISSION WENT AFTER THEM DURING THE POISON PEN CASE, ACTUALLY AT THAT TIME THEIR POWERPLANT PROJECT IN INDIA WAS NOT EXISTING AT ALL, NOT MOVING AT ALL, LUCKY SC JUST GAVE THEM WARNING, OR ELSE BY NOW THEY ARE ALREADY WALKING NAKED ARROUND, SC MANAGE TO DIG THEIR TIGHT LIP SECRETS

THIS RASCALS ARE ACTUALLY HIDING MANY THINGS

PLEASE TRY TO CALL THEIR IR, MR BENJAMIN, AND ASK HIM ANY QUESTIONS, THEIR LIPS ARE BEING WELDED COMPLETELY, THEY WON T ANSWER ANY OF YOUR QUESTION IN A SATISFACTORY MANNER, ALWAYS IN SECRETIVE MODE

CAREFULL GUYS WITH YOUR HARD EARN MONEY,THIS COMPANY IS A TIGHT LIP COMPANY, THEY ARE NOT TELLING OUT THE TRUTH, MANY ANALYST ALREADY REMOVING THIS COUNTER FROM THEIR RADAR..GO FOR GOOD COMPANIES THAT ARE TRADING HIGHER, DO NOT GET ATTRACTED TO CHEAP NON TRANSPARENT COMPANIES, ALWAYS IN SECRETIVE MODE

THEIR MIND ATTENTION IS NOT AT MAKING PROFIT ANYMORE, THIS FINANCIAL PROBELM THEY ARE GOING TO DRAG N DRAG N DRAG..THE PRESENT JAMES WONG MANAGEMENT THAT CAME IN, ACTUALLY WAS TO DO THE LAST INNER ROBBERY, OF WHAT BALANCE WEALTH IS LEFT

CAREFULL BEFORE THEY BLAST OUT MEGA NEGATIVE NEWS,NOW THEY ARE BLASTING OUT MINI POSITIVE NEWS FIRST THAT THEY ARE WINNING PROJECTS IN PENANG, SLOWLY THEY ARE GOING TO BLAST MEGA NEGATIVE NEWS..NOW MAKING PROFIT AGENDA IS ALREADY OUT FROM THEIR PORTFOLIOS, NOW THEY ARE FACING DEBTS PROBELMS

WHAT IS VITAL NOW IS TO SEE IF MUDAJAYA AND THE OTHER COMPANY RKM CAN SERVICE THEIR DEBTS LOAN PAYMENT TO BANKS IN A SATISFACTORY MANNER, SO THAT THEIR ICRA AND RAM RATINGS ARE NOT DOWNGRADED. DO NOT GET SO MUCH CARRIED AWAY BY THEIR WINNING TENDERS IN PENANG, DO NOT GET YOUR MIND ATTENTION SCATTERED ELSEWHERE, PAY ATTENTION ON THEIR RATINGS

FROM CIMB RESEARCH


Mudajaya Group

Is there a silver lining?

■ Annualised 9M16 core net loss was higher than our forecasted full-year net loss.
Losses sustainable into 4Q16.
■ Domestic operations anchored by RM1.3bn order book, but losses worsened.
■ Overseas operations deteriorated via higher associate losses. Delay risks remain.
■ Share price has languished YTD but job flows may be the only silver lining.
■ Downgrade to Reduce due to concerns on earnings prospects.

Associate losses smears 9M16 results
Mudajaya’s annualised 9M16 core net loss of RM122m was deeper than our forecasted
core net loss of RM63.5m for the full year. The key deviation came from higher
associate and construction losses. Flattish earnings from the property development
division were unsurprising given the current market conditions. Stripping out overseas
contribution from the overall operations, the group’s domestic operations were likely
dragged down by construction cost overruns.
RM1.3bn order book = 2.3x revenue cover
The bright spot in 9M16 was the 41% yoy growth in construction revenue on the back of
an RM1.3bn outstanding order book, which included the RM1.3bn Pan Borneo Sarawak
package to the Musyati-Mudajaya JV. Construction operating losses, however, widened
further yoy in 9M16. We suspect this was due to the impact of higher steel cost which
was not fully passed through.
Sustained delay risks for India ops
Associate losses widened to RM100m (26% stake) in 9M16, due to the depreciation and
finance cost (no longer capitalised in the JV’s balance sheet) relating to two of the four
1,440MW coal-fired power generating units at its power plant in Chhattisgarh, India. In
view of the delay in the new tariff approval under the revised power purchase agreement
(PPA), power sales looks likely to kick off in 2017 rather than in 4Q16. We slash our
FY16F-18F EPS, largely to account for the higher associate and construction losses.
What could emerge as a silver lining
The stock depreciated 32% in the past 12 months. What could emerge as a silver lining
is better success rate for its tender book, which comprises an MRT 2 package, new
building jobs, various road projects in Penang, potential new domestic solar farm
venture, and potential variation order (VO) claims for its existing contract in Petronas’s
refinery and petrochemical integrated development project (RAPID). Based on our blue
skies scenario estimate, it could secure up to RM800m in new jobs in the medium term.
Downgrade to Reduce.
Due to sustained earnings and delay risks, our FY17-18 net profit forecasts could see
further downside. We roll over our valuation to end-2018 and impute into our RNAV the
prevailing value of its associate stake (replacing the estimated DCF value that was
based on the former PPA). Our target price decreases as we widen the discount to
RNAV from 50% to 60%. Downgrade to Reduce (from Hold). Upside risk to our call is
larger than expected order book prospects.

we cannot just sit and wait for this company announcement,, by then will be late already

any ideas on how to search for RKM Powergen staffs,, on facebook?????????? anybody here can give some ideas please

kevin5059,,, are you joking or serious kevin???????????????????????

Now the present management is going to drag the company into larger pit of debts, then die lo, how to pay huge debts, by then the management already run away, too late

If want to stop indian project should had done it before, not now when having financial distress..stupid company should had been paying attention on local projects, even if the margin of profit is low, something is better then nothing...very stupid management

The present management doing nothing, only enriching themself with the expanse of shareholders money, then they will RUN, when nothing left to siphon

Till this company never lick the balls of jibby putra, till then it still be sleeping

Last time anto mastur...ting, this time james wong mastur...ting, really fuc..ing arround with shareholders money

Good pick

YES I HEARD THE SAME THING, IFCA GOT CASH, 50 to 60 million, but we must understand government is not pump priming this property sector, cause too much of speculation, so this sector is consolidating at the moment...

last time delays in their indian powerplant projects,,, now new probelm, financial situation on the cards, die lo...they will play delay delay games on this financial situation till everyone dies. no hope in their indian projects anymore

http://politemarket.blogspot.my/

Post removed.Why?

Playing arround with investors money, and SC is approving the whole play

The world is so big, but the stupid bas...rds of mudajaya choose the ass of india

MFCB ALSO CAN DO WELL

http://klse.i3investor.com/servlets/ptg/3069.jsp

Post removed.Why?

Nothing no miracles,,slow down in property sector

This bas...rds might had bribed SC

REAL A DONKEY COMPANY, WITH DONKIES RUNNING THE SHOW..NO WONDER CEO S ARE ALWAYS RUNNING AWAY..always sweet honey talks in their reports..no wonder since the poison pen case with SC, the company was already in downtrend.. SC also did not mentioned the full story of their finds after investigation..only told that this company was having a transparency issue..I think SC did not told the full truth in masmedia reports on the outcome of their investigations...there were flaws in their indian powerplant project

NOW THE PICKS SHOULD BE FROM IOT SECTOR, INTERNET OF THINGS, PAY MORE ATTENTION ON THIS SECTOR,,SEARCH FOR HIDDEN GEMS IN THIS SECTOR, THANKS

Donkeys, are smart, they will get first hand fast news, they will action first, we retail investors will be the last

Now also they playing the same games, sweet honey talks, in their reports, saying that they can raise up funds for projects, they are going to drag this also

Securities Commission also once before had given warning to this company of transparentcy probelm, till today they are still playing delay dalay games, sweet honey talks in their reports

I am just giving my general view on what is coming for this company, the rest only God knows

I AM VERY VERY SURE THIS COMPANY IS HEAADING SLOWLY IN YEARS TO COME INTO PN17, a distress company

I DO NOT THINK THIS FINANCIAL PROBELM WILL BE RESOLVE SOON, ANOTHER DELAY DALAY GAMES THEY ARE GOING TO PLAY WITH THIS, JUST HOW THEY PLAYED WITH THEIR INDIAN POWERPLANT PROJECT

http://klse.i3investor.com/blogs/PublicInvest/107356.jsp. NOW VERY VERY CLEAR CAN BE SEEN THEY ALREADY SHIFTED THEIR MIND, FROM MAKING MONEY IN PROJECTS, TO FINANCIAL PROBELM. THIS PROBELM IS ALSO GOING TO BE DRAG, FOR MANY YEARS TO COME, SO THEIR ATTENTION WON T BE ON MAKING MONEY FROM COMPLETION OF PROJECTS

http://klse.i3investor.com/blogs/PublicInvest/107356.jsp NOW IF YOU LOOK AT THIS LINK,THEIR ATTENTION ALREADY SHIFTED, FROM COMPLETION OF PROJECTS TO FINANCIAL DIFFECULTIES..

THEY MUDAJAYA, SHOULD HAD DECIDED TO SELL THEIR INDIAN BUSINESS, LONG BACK AGO, WHAT THE F..K THEIR PAST AND PRESENT CEO S ARE DOING..THEY F..KING BAS..RDS VERY SMART, ALREADY SOLD THEIR OWN SHARES, BUT TO NORMAL RETAIL INVESTORS, THEY ARE GIVING FALSE PROMISES, THAT THE POWERPLANT WILL FIRE AND MAKE MONEY.. THEY WERE LIEING TO RETAIL INVESTORS ALL THE WAY

the END

http://politemarket.blogspot.my/2016/09/list-of-export-counters-for-us-to-buy.html

coming PN17 company

going for PN17

do you have whatsapp group,, please add me +60193629402

if majority ma...ys in the company, habis lah judgement day

to recover from here, oh my god, no way

PN17 COMING

sing dead hyms for this counter

sudah mati,,, betul betul mati

usually this type of jokers will sing two types of songs, one is painting the past, to hook new students, another song is for those who already subscribe to his services