Government to takeover EDL for RM1.3b
Posted on 2 November 2018 - 04:17pm
Last updated on 2 November 2018 - 05:02pm
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PETALING JAYA: Government to take over Eastern Dispersal Link (EDL) from Malaysian Resources Corp Bhd for RM1.3 billion.

The amount is about 16% lower than its RM1.55 billion valuation.

To recap, toll collections at the EDL have been abolished since Jan 1, 2018 pending disposal of the highway by MRCB Southern Link, a unit of MRCB. The expressway has an outstanding debt of RM1.02 billion.


DISAPPOINTED DUE T0 SOME WORRIES :-

Compensation Shortfall of 16% or RM250M is a big amount

Shortfall made worst by the loss of toll collections which stopped since Jan 1st.

There will be other readers and investors who will find my findings and comments to be educational and beneficial.

We therefore need to be engaged in more intelligent discourses

Another more recent example.

MBSB cum Dividend price was hovering between 1.15 to 1.18. There was even a DRP where u can convert your dividends to new shares issued at 1.02.
Now MBSB doing 1.00 to 1.01

All forum commentators are entitled to their own opinions and views or strategies.
My observations are nevertheless supported by empirical evidences and facts as stated in the examples given

No cals to buy or sell here.

Just making my observations on the concepts of "value traps" and "dividend traps" and that we should be more aware of

But how to survive if still stubbornly hold MRCB at 1.30 ? (now 0.75 /low of 0.595 )

Or if still hold MALTON at 1.26 ? (now 0.515 )

Buy and hold strategy for long term may not be suitable for a bourse like Bursa.

Can die bankrupt kau kau

Examples include :

Mahsing:

SIMILARLY, MAHSING IS A GOOD SHARE. JUST GAVE OUT 6.5 SEN DIVIDEND BUT ITS SHARE PRICE WENT DOWN A LOT AFTER EX D
(PERSONAL EXPERIENCE. BGT AT 1.06. SOLD CUM D AT 1.27. NOW EX D SHARE PRICE WENT DOWN TO 1.02).
THIS IS THE KIND OF SHARE PRICING BEHAVIOUR WHICH SCARES ME )

Annjoo:

SAME PATTERN SEEN IN ANNJOO.
GOOD SHARE. BUT ITS SHARE PRICE SUFFERED BIG DECLINE AFTER IT WENT EX DIVIDEND.

NOTE ONE LADY INVESTOR COMPLAINED. TOOK 6 SEN DIVIDEND BUT SUFFERED 25 SEN SHARE PRICE LOSS AFTER EX D

L&G :
Cum d 1.5 sen
Cum price were 0.195 and 0.20 on the eve of ex D date (4/10)
Today 0.17/0175

We all know of the economic/share investment strategy called "Value Trap " where the undervalued assets of listed companies (compared to their prevailing market prices which were therefore perceived to be underpriced) attract the "buy and hold" investors. But where in many cases became "trapped" because the undervalued assets and hence their share market prices remained undervalued for the longest time. Such investors may or may not suffered paper financial losses but with their investible capital being tied down they will have incurred "opportunity costs" being "lost opportunities in buying other shares whose prices had increased and where they would had made capital gains"

We now (in Bursa) are seeing an emerging market pattern which can be called " Dividend Trap" where many listed shares gave dividends (thus attracting investors to buy their shares on "Cum Dividend basis) but were "trapped" and suffered financial losses when such shares prices actually went down by more than the dividend amounts received.

Will back this "Dividend Trap" concept with many examples which actually happened recently.

Good to be aware and beware

SAME PATTERN SEEN IN ANNJOO.
GOOD SHARE. BUT ITS SHARE PRICE SUFFERED BIG DECLINE AFTER IT WENT EX DIVIDEND.

NOTE ONE LADY INVESTOR COMPLAINED. TOOK 6 SEN DIVIDEND BUT SUFFERED 25 SEN SHARE PRICE LOSS AFTER EX D

ANOTHER OBSERVATION

DUTALAND'S BIG CAPITAL GAIN IN LATEST RESULTS.
GIVING 5 SEN DIVIDEND (DOUBLED MALTON'S 2.5 SEN.NOT YET DECLARED)
SHARE PRICE ALSO 0.525. BUT DUTALAND'S SHARE PRICE NOT MAKING ANY HEAD WAY.

SIMILARLY, MAHSING IS A GOOD SHARE. JUST GAVE OUT 6.5 SEN DIVIDEND BUT ITS SHARE PRICE WENT DOWN A LOT AFTER EX D
(PERSONAL EXPERIENCE. BGT AT 1.06. SOLD CUM D AT 1.27. NOW EX D SHARE PRICE WENT DOWN TO 1.02).
THIS IS THE KIND OF SHARE PRICING BEHAVIOUR WHICH SCARES ME )

Uptrending. Your interpretation is correct.

But my observations of the price trends of most counters some months before and after the GE14 (and despite the good outcomes of PH taking over the new Malaysia Govt), many shares had lost a lot of ground. i.e. Many investors had lost back much of their few years' stock gains. In fact many of my friends had suffered net losses.
The current situation is such that even companies achieved creditable results (eg DUTALAND) their shares were still unable to make any head way.

So,the risk/reward ratio is currently = big risks/small gains.

I will monitor our Bursa shares price trends up to our 2019 Nat Budget on 2/11/18 and see how things go.

If no positive changes it will be better and safer not to re-enter the market. Take a well earned holiday (fortunately still with net gains) and wait ..........

Thanks for reading my yak yak

Increasingly difficult investing conditions:

I dont know about others but I am encountering the above situation:

lets analyse the possible reasons for Malton's share price to be lacking in pricing power:

1) significant global economic news flows including USA pitting trade wars agst China and other countries, thus dampening world economic prospects(WHICH COULD AGGRAVATE AND HASTEN THE NEXT WORLD STOCK MARKET CRASH AS WE ARE NOW IN THE 10TH YEAR ANNIVASARY OF THE LAST CRASH IN 2008)

2) New Malaysia's economic prospects facing its newly discovered RM Trillion National Debts. Our Finance Minister already said the coming National Budget is going to be difficult (and he will become the most unpopular Fin. Min in Malaysia hinting at "no goodies and likely new and higher taxes" )

3)Malton's latest Quarterly Results were also much weakened/poor

4)the continuing and likely deteriorating Property markets (per latest BNM reports of increasing over supplies/unsold and Construction sector which affects Malton directly).

MALTON IS NOT THE ONLY COUNTER ENCOUNTERING THE ABOVE NEGATIVE HEADWINDS. OTHERS IN THE SAME BOAT INCLUDE ECOWORLD, EWINT. MAHSING, WCT, L&G, AND THOSE WHOSE BUSINESSES ARE RELATED TO THE PROPERTY AND CONSTRUCTION SECTORS (LIKE STEEL AND CEMENT MANUFACTURERS)

BASED ON THE ABOVE , THE PERTINENT Q IS WHETHER THE CURRENT RISK/REWARD RATIO IS SUCH ITS NOT WORTH INVESTING ANY MORE.

Maybe this is also the fear of having one that had been causing the increasing selling pressure.

Sudden sharp selling pressure.
Some market talk of close relationship with ex Leader and spouse.
Some news on the 93 pieces of FT lands under investigation (initially polis reported by Kepong MP)
Maybe just speculation

Overseas buyers account for roughly half of all residential transactions in central London, according to Faisal Durrani, head of research at property consultants Cluttons LLP.

UK developers are already grappling with sluggish demand amid the nation’s messy divorce from Europe, a cooling property market and prospects of higher interest rates.

The capital’s stock of unsold homes under construction is at a record, and shares of home builders such as Crest Nicholson Holdings Plc and Berkeley Group Holdings Plc have slumped this year.

(south china morning post SCMP)

‘We are very concerned about the impact that foreign buyers have on the housing market’

PUBLISHED : Monday, 01 October, 2018, 10:40am
UPDATED : Monday, 01 October, 2018, 10:40am
COMMENTS:

RISKS OF A DOUBLE WHAMMY

Britain’s PM Theresa May wants to hit foreign homebuyers with a higher tax

Britain’s high-end and luxury home builders face a squeeze as Prime Minister Theresa May prepares to impose higher taxes on foreigners looking to buy properties in the UK.

Plus a possible interest hike (following USA FED 3rd rate hike )

Many share prices went up after their ex-dividends dates, Examples :-

MRCB
TA
D&O
TOPGLOVE

enid888 Value investor, Tong Kooi Ong starts to turn positive towards the property sector. The price of property counters has dropped to a stage that they are too cheap now. It is good news for Mah Sing and Ecoworld in particular and all the property counters as a whole.

https://www.theedgemarkets.com/aa/tong/portfolio
01/07/2018 20:42

{Tong Kooi Ong gave a very good analysis on Mahsing when he bought/added Mashing into his Portfolio. Hope some value investors kindly reproduce Mr Tong's article here. Tq }

ITS REITS IPO WILL BRING IN HUGE CASH INFLOWS FOR THE TA GROUP IN ADDITION TO
REALISING BIG CAPITAL GAINS, THESE WILL TRANSLATE INTO HIGHER CASH DIVIDENDS ( INCLUDING SPECIAL DIVIDENDS)

REITS WILL ALSO BE VERY GOOD

MANY POSITIVE FACTORS/GOOD NEWS FOR COMING 2Q RESULTS/PROFITS INCLUDING :-

SIGNIFICANTLY HIGHER BROKERAGE INCOMES/PROFITS FROM MUCH LARGER DAILY TRADING VOLUMES IN BURSA SUPPORTED BY INTRA DAY SHORT SELLING TRADING WHICH WILL BENEFIT TA BASED ON ITS LARGE SHARE OF RETAIL CLIENTS.

PLUS TA'S OWN SALE OF 2 HONG KONG PROPERTIES CONFIRMED COMPLETED EARLIER THIS MONTH AND WHICH HAD REGISTERED A CAPITAL GAIN OF RM59M WHICH WILL PUSH UP ITS 2Q PROFITS FURTHER.

ANOTHER POSITIVE CATALYST CAN BE A POSSIBLE DISTRIBUTION OF FREE TAG SHARES AS A DIVIDEND IN SPECIE TO TA SHAREHOLDERS (WHICH WILL RESOLVE TAG'S INADEQUATE FREE FLOAT)

TA'S FUNDAMENTALS ARE STRONG AND WILL CONTINUE TO STRENGTHEN FURTHER ESPECIALLY ITS SUBSIDIARY, TAG, IS DONG WELL WITH MANY UNDERVALUED OVERSEAS LANDED ASSETS RIPE FOR SALES WITH POTENTIAL HUGE CAPITAL GAINS.

HENCE TA'S CURRENT SHARE PRICE IS VERY MUCH UNDERVALUED. EXPECT ITS SHARE PRICE TO APPRECIATE WITH THE UNLOCKING OF ITS ASSETS AND INCREASING PROFIT PERFORMANCES EVERY SUBSEQUENT QUARTER. WILL TRANSLATE TA INTO A HIGH DIVIDEND YIELD STOCK

REALITY CHECK : THE HARD FACTS :-
Toll Will Not Be Abolished Until Malaysia’s Financial Situation Improves
MMO) – Pakatan Harapan’s (PH) promise to abolish road tolls will only be looked at once Malaysia’s financial situation improves, said Finance Minister Lim Guan Eng.

Hence EDL’s RM1.2B Sukuk loan will likely have to remain with MRCB. Means its borrowings/
Gearing have to remain high at >RM4B. Also in line with DAP’s policy which criticized it to be a bailout if the Govt also absorbs the Sukuk loan. (however it will receive fair compensation to cover its lost toll revenue + Sukuk interest cost)

RE : Jeffreyteck NA per share dropped so much. Profit almost equal to revenue?

NOTICED YOUR OBSERVATION ON ITS FULL YEAR PROFITS REPORT
HENCE WENT TO CHECK ON ITS P&L AC AS REPORTED YESTERDAY AND FOUND THAT ITS PROFITS HAD BEEN INFLATED BY 2 EXCEPTIONAL ITEMS TOTALLING RM78.2M.
(RE :- “ A9. Profit Before Taxation The following amounts have been included in arriving at profit before taxation:
Gain on disposal of fixed assets 34,811
Write back of provision for cost to complete 43,390 “ )

DOES IT MEAN THAT WITHOUT THESE 2 EXCEPTIONAL INCOMES L&G WOULD HAD ACTUALLY INCURRED A TRADING LOSS FOR THE YEAR? (DUE TO WEAK PROPERTY MARKET)

ALL INCORRECT.
HOW CAN BUY OVER TOLL CONCESSIONS WITHOUT ANY COMPENSATION?

THESE ARE ALL BUILT WITH LEGAL AGREEMENTS AND THE PAKATAN GOVERNMENT HAD ALREADY CONFIRMED ITS THEIR POLICY TO FOLLOW THE RULE OF LAW

Positive Indicators for MRCB :-
MRCB 1Q RESULTS TO INCLUDE
1) DISPOSAL GAINS RM58M IN SETAPAK LAND SALE TO JV PROJECT WITH TABUNG HAJI
(BURSA ANNOUNCEMENT DATED 26/12/2017)
2) DISPOSAL GAIN RM30M FROM SALE OF JLN KIA PENG LAND TO PERKESO
(BURSA ANNOUNCEMENT DD 21/3/2018)
3) CONTINUING REVENUE AND PROFITS FROM ITS 50:50 JV WITH GKENT FOR LRT3
(RM9B CONTRACT TO BE COMPLETED BY SEPT 2020. CONTRACT NOW COMPLETED MID WAY)

EDL.
TOLL REVENUE COMPENSATION ONLY BEING DELAYED FOR 1Q RESULTS BUT IS GUARANTEED TO BE RECEIVED IN SUBSEQUENT QUARTERS AND WILL ACCORDINGLY BOOST UP ITS REVENUES AND PROFITS FOR FYE 31/12/2018
HENCE MRCB’S REVENUES AND PROFITS WILL BE SATISFACTORY TO GOOD IN ITS COMING QUARTERS AND YEARS BASED ON ITS HUGE RM50B GDVs IN HAND (ESPECIALLY IN ITS TRANSIT ORIENTED DEVTS (TODs) JV WITH EPF IN KWASA SENTRAL AND BUKIT JALIL
ADDITIONAL PROPERTY DISPOSALS (WHICH WILL REDUCE ITS DEBT/GEARING RATIOS PLUS BRING IN MORE HUGE CAPITAL GAINS IN THE 2H OF THIS YEAR INCLUDE MENARA CELCOM FOR RM688M AND ASCOTT FOR RM180M CASH (WHICH WILL TURN MRCB INTO A NET CASH ENTITY WHICH WILL TRANSLATE INTO HIGHER CASH DIVIDENDS )

MRCB HAVE STRONG FUNDAMENTALS AND A GOOD BUSINESS MODEL .
WILL CONTINUE TO DO WELL

Nonsense.
MRCB IS NEVER INVOLVED IN ANY CONTRACT IN ECRL.
NOT CONNECTED WITH ECRL AT ALL

Positive Indicators for MRCB :-
MRCB 1Q RESULTS TO INCLUDE
1) DISPOSAL GAINS RM58M IN SETAPAK LAND SALE TO JV PROJECT WITH TABUNG HAJI
(BURSA ANNOUNCEMENT DATED 26/12/2017)
2) DISPOSAL GAIN RM30M FROM SALE OF JLN KIA PENG LAND TO PERKESO
(BURSA ANNOUNCEMENT DD 21/3/2018)
3) CONTINUING REVENUE AND PROFITS FROM ITS 50:50 JV WITH GKENT FOR LRT3
(RM9B CONTRACT TO BE COMPLETED BY SEPT 2020. CONTRACT NOW COMPLETED MID WAY)

EDL.
TOLL REVENUE ONLY BEING DELAYED FOR 1Q RESULTS BUT IS GUARANTEED TO BE RECEIVED IN SUBSEQUENT QUARTERS AND WILL ACCORDINGLY BOOST UP ITS REVENUES AND PROFITS FOR FYE 31/12/2018
HENCE MRCB’S REVENUES AND PROFITS WILL BE SATISFACTORY TO GOOD IN ITS COMING QUARTERS AND YEARS BASED ON ITS HUGE RM50B GDVs IN HAND (ESPECIALLY IN ITS TRANSIT ORIENTED DEVTS (TODs) JV WITH EPF IN KWASA SENTRAL AND BUKIT JALIL
ADDITIONAL PROPERTY DISPOSALS (WHICH WILL REDUCE ITS DEBT/GEARING RATIOS PLUS BRING IN MORE HUGE CAPITAL GAINS IN THE 2H OF THIS YEAR INCLUDE MENARA CELCOM FOR RM688M AND ASCOTT FOR RM180M CASH (WHICH WILL TURN MRCB INTO A NET CASH ENTITY WHICH WILL TRANSLATE INTO HIGHER CASH DIVIDENDS )

MRCB HAVE STRONG FUNDAMENTALS AND A GOOD BUSINESS MODEL .
WILL CONTINUE TO DO WELL

janetchiam8 Very good and positive observations on MRCB coming tomoro morning

Very good and positive observations on MRCB coming tomoro morning

Also agreed with you that there will be no dividend for 2018 FY.

This was confirmed from its annual report that they can only start considering a dividend from FY2019

Comparitive likely 1Q this year against 1Q last year :

Last year 1Q got benefit of one off extraordinary gain of about RM104m when it booked this gain arising from its sale of 40% of its subsidary to EPF (this subsidiary acquired the 2000 acres Ijok land and when it sold a stake to EPF it was able to revalue its Ijok land which yielded a revaluation surplus )
But I cannot find any disposal gain for the Ecowld group during this year's Quarter. Hence it is very likely this current year's Q profit could be much lower.

Comparitive 1

Posted by cheshirecat > Mar 11, 2018 10:23 PM | Report Abuse

Hi janet! Me auntie cheshire would like to thank q very much for ur posting contribution

Hi, U are most welcome to share my findings on the good fundamentals and the multiple catalysts going to materialise in the months ahead and which will generate stronger business and earnings growth for MRCB.

All my findings are factually based derived from official announcements and its quarterly financial and annual reports

PM and BN Govt will likely go for its full 5 years term.

It is to their political advantage. There is no need for them to dissolve parliament earlier. Hence PM will allow parliament to automatically dissolve itself at the end of its legal 5 year term in around 25th JUNE.
G.E. will take place in AUGUST before our National Day celebrations when the peoples' patriotic sentiments will favour the present BN Govt

PM and BN Govt will likely go for its full 5 years term.

It is to their political advantage. There is no need for them to dissolve parliament earlier. Hence PM will allow parliament to automatically dissolve itself at the end of its legal 5 year term in around 25th JUNE.
G.E. will take place in AUGUST before our National Day celebrations when the peoples' patriotic sentiments will favour the present BN Govt

MRCB's injection of part of its Bukit Jalil lands (which it received from the Fed Govt as consideration for its Refurbishment Contract for the National Sports Complex) into its Bukit Jalil Sentral TOD for which EPF will pay MRCB RM1.14B CASH (for its 70% TOD) can be rightly be regarded as an ASSET DISPOSAL

The Joint Venture Bukit Jalil TOD for which EPF is going to pay MRCB RM1.14B CASH has very good potential to generate a BIG CAPITAL DISPOSAL GAIN for its coming quarterly results. (bcos its lands to be injected into this TOD is essentially COST FREE.)

Similiarly, its coming disposal of Menara Celcom to Quill-MRCB Reits for RM680m CASH can also yield good capital gains. Such disposal gains will reduce its gearing and creates positive cash flows and increase its profits. There are prospects for a special dividend in future, (now Cum Dividend 1.75 sen)

Recent disposals of assets by DRB RM1.9B was positive to boost its share prices.

Similiarly the above impending asset disposals by MRCB can also boost MRCB’s share price

NEAR TERM POSITIVE CATALYSTS

The above points relates to my positive views on its near term catalysts waiting to unfold soon

The very clear clarification on formula to be used for its CW23 is much appreciated. Many thanks.

Hope by Sept many of its positive catalysts would have materilalised to boost its price >1.30.
Recently 2 Investment Banks reviewed its latest 4Q and Full Year’s results and gave it a fair Value Price Target of 1.31

Read from its quarterly reports its Bukit Jalil Sentral TOD will be officially launched in the 2Q
Joint venture agreement already signed with its main shareholder EPF.
MRCB received 4 parcels of lands from the Fed Govt as payment for its Refurbishment Contract for the National Sports Complex in Bukit Jalil. As the costs of this contract had already be expensed off/absorbed by its past 2 years accounts these landbanks are now cost-free,

Part of these lands will be injected into special purpose vehicle formed under the MRCB-EPF Bukit Jalil Sentral TOD (70% owned by EPF) and EPF will pay MRCB cash RM1.14B and MRCB still owns 30% of the TOD), This event will be a big catalyst for MRCB.

Coming next will be its planned disposal of its Menara Celcom to Quill-MRCB Reits for RM680M cash

Also the disposal of its EDL Toll Highway to the Fed Govt is a good exit from a non core business. The disposal deal will range from reasonably good to very good (given that MRCB is a GLC which had done a lot of good work for the Govt and significantly owned by EPF (and indirectly by millions of EPF members-contributors/citizens/Voters )

MRCB has multiple catalysts coming on stream over the next 9 months but I am looking forward to the above 3 corporate actions to happen soon.

Its many catalysts as listed down by analysts will translate into robust business and earnings growth in the years to come

Hi Can some one help ?

Plse help to explain the formula to compute its CW27 expiry 28/9, exercise price 1.30 RATIO 2.5 TO 1.

What do u mean by "ratio 2.5 to 1 " ?

Does it mean that this CW will still be out of the money even when MRCBs price reaches 1,30 ?
(bcos of the specified ratio of 2.5 to 1 )

Many thanks
10/03/2018 17:38

Hi, Adcool and /or JayC.

Plse help to explain the formula to compute its CW27 expiry 28/9, exercise price 1.30 RATIO 2.5 TO 1.

What do u mean by "ratio 2.5 to 1 " ?

Does it mean that this CW will still be out of the money even when MRCBs price reaches 1,30 ?
(bcos of the specified ratio of 2.5 to 1 )

Many thanks

Ok. But my worry now is the return
of down trend in crude oil prices
as it broke down below its support
level from USD67 to RM 58 per
barrel now. Due to world
over supply aggravated by
USA Shale Oil flooding the
markets. Can dampen the oil
sector. Need to watch it

CARIMIN : CATALYSTS FOR GROWTH

Coming 2Q results to be announced this month should be better/good based
On the following factors:-
1) Its last year’s 4 Q was positive with a net profit of 1.584M. Its following
1Q for FYE 30/6/218 was a small loss of 183K. Our optimistic projection
of a much better 2Q was derived from 2 very valuable new contracts:-

JOBS ARE WELL SECURED IN RAPID (Pengerang RAPID), WEST COASTAL HIGHWAY (WCE) & KL WATER WORKS
Fear of payment default is little as Paymasters of Petronas, Malaysia Govt & other Entities of Repute.
The Board of Directors of Carimin is pleased to announce that Carimin Bina Sdn. Bhd. ("CBSB"), a subsidiary of Carimin, had on 23 June 2017 received a Letter of Award dated 22 June 2017 (“LOA”) as the exclusive Sub-Contractor from Urban Masterpiece Sdn. Bhd. for the construction of all civil and engineering works in respect of the rainwater storage tank, consisting of 2 numbers of tube wells, 1 basement tank, 1 level of service/maintenance floor and external works (excluding mechanical and electrical works) for a project in relation to the management, control and store water for flood mitigation purposes in the area of Jalan Termeloh, Taman Tasik Titiwangsa, Kuala Lumpur, subject to the terms and conditions as stipulated in the LOA (“Sub-Contract”).
THE SUB-CONTRACT SUM
The Sub-Contract is estimated to be approximately RM60,000,000.00 (Ringgit Malaysia: Sixty Million Only).
DURATION OF THE SUB-CONTRACT
The anticipated period for the completion of the Sub-Contract shall be twenty-four (24) months from the date of site possession. Tentatively, the dates on which CBSB shall commence and complete the Sub-Contract are as follows:-
a) The Date of Site Possession: 16 October 2017
b) The Date of Completion: 15 October 2019

Estimating Rm30 Millions for One Year with 12% profit CARIMIN already show a future profit of Rm3.6 Millions just from this one job award.

2) The Board of Directors of Carimin is pleased to announce that the Company's wholly-owned subsidiary, Carimin Engineering Services Sdn Bhd (“CES”), had on 20 September 2017 accepted a Letter of Award dated 20 September 2017 (“LOA”) from PETRONAS Carigali Sdn Bhd (“PETRONAS Carigali”) for Provision of Maintenance, Construction and Modification (MCM) Services (Package C (Offshore) Peninsular Malaysia Oil) (“the Contract”).
INFORMATION OF THE CONTRACT
The contract duration will be for a primary period of five (5) years with one (1) year extension option effective from 20 September 2017 and will expires on 19 September 2022, at an agreed fixed schedule of rates.
The details of the scope of works in relation to the Contract will be addressed in a work order which will be issued by PETRONAS Carigali and shall include any or all other work and services which is generally related to Topside Structural Maintenance, Workover Preparation and Facilities Improvement Project.
SO FOR THE NEXT 5 YEARS CARIMIN'S FUTURE IS GUARANTEED BY THE JOB AWARD FROM PETRONAS. A MAMMOTH RM170 BILLIONS TOTAL CAPEX FOR PENGERANG RAPID - THERE WILL BE LOTS MORE JOBS COMING CARIMIN WAY

These 2 contracts’ relevant portions of revenues (and profits) will be recognised in the this 2Q
---------------------------------------------------------------------------------------------------------------------

results bcos their job commencement dates were 16th October 2017 and 20th September 2017
---------------------------------------------------------------------------------------------------------------------

Carimin’s fundamentals and financials are very sound as detailed by our good fella Calvin Tan’s TOP 10 REASONS WHY CARIMIN PETROLEUM IS NOW A STRONG BUY (Calvin Tan Research)
Author: calvintaneng | Publish date: Fri, 26 Jan 2018, 11:41 AM
Going forward Carimin’s business prospects will be positive based on :-
(i) Crude oil prices had recovered very well. It had more than doubled
From < USD30 to >USD60 per barrel translating into many new jobs and
Contracts for its O&G services from those companies which survied and now growing again (in addition to those jobs of engineering SALVIGING works for those companies which are exiting the oil sector)
(ii) Saudi Aramco’s US$7b investment in Rapid Pengerang Johor will translate into many new jobs for Carimin being a Petronas O&G engineering service contractor

Read somewhere that "Long Term Incentive Plan ("LTIP") " are actually GRANTS (which means that the company will bear the cost in its P&L ac (number of shares granted x rm1.07)

Reason ORDINARY SHARES UNDER THE FIRST VESTING OF 2017 RESTRICTED SHARE PLAN OF MRCB'S EXECUTIVE SHARE GRANT SCHEME

Long Term Incentive Plan ("LTIP") - 4,027,000 shares at 1.070.

Not sure if the entitled directors need to pay for their allotments.

If these allotments were given as incentives and rewards for their senior positions and good achievements then the company would have to absorb the costs in their financial accounting

These shares were alloted (NO NEED TO PURCHASE FROM BURSA) to the Senior Executives of the company at @incentive price at rm1.07 (a modified version of ESSOS )

18-Jan-2018 Additional Listing Long Term Incentive Plan ("LTIP") - 4,027,000 shares at 1.070

Agree with comments by Martin and Samuel and others.
Likely to pause and consolidate further

Agree with SamuelLuke and others.

Likely to consolidate further

MQ Technical Rating

2.5 / 5 ( WEAKENED FROM PREVIOUS 4.8 / 5)



Rating Breakdown

Bullish:
2
Over sold:
0
Neutral:
4
Bearish:
3
Over bought:
0
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(MAY NEED TO CONSOLIDATE)