https://tradingeconomics.com/commodity/steel

L&G plans to launch three projects in the Klang Valley worth RM4.2bn next year.

https://www.edgeprop.my/content/1422441/lg-plans-launch-three-projects...

https://tradingeconomics.com/commodity/steel
https://gensteel.com/building-faqs/steel-building-prices/forecast

Very good Q4 result.

https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=6...

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=201726&name=EA_FR_ATTACHMENTS

Good news from its quarterly result announcement:-

'Petronas has confirmed termination of the RSC agreement. The modalities for
handover of the operations and novation of contracts are on-going. Reimbursement
of capital and operating expenditure will be subject to audit and finalization by
Petronas.'

http://malaysiastock.biz/Company-Announcement.aspx?id=1080984

Great. Just got on board @ 77.5

http://www.theedgemarkets.com/article/bnm-roll-out-special-housing-loan-next-month-says-mof

The features of the scheme include giving flexibility to banks in lending guidelines for first home buyers, requiring first home buyers to attend financial counselling to ensure they receive adequate financial advice before taking a housing loan, as well as reducing the overall cost of first home ownership such as stamp duty and insurance.

Recovery signs for property market...authorities finally acting on it.....?

https://www.theedgemarkets.com/article/prices-kl-highend-condos-rise-44-2q-property-mart-looking-better-days-ahead-says-consultant

http://www.agilemalaysia.com.my/bukit-bintang

https://youtu.be/yKFUhuAY7uo

https://www.theedgemarkets.com/aa/tong/portfolio

Scomi Energy said it has submitted a letter to Petroliam Nasional Bhd, or Petronas, to terminate the risk sharing contract for the Ophir oilfield, which was not able to restore production of the wells.

"Subject to Petronas' consent, as owner of the field, Ophir will hand over the operations, novate all existing contracts and secure the imbursement of capital and operating expenditure for the development."

This company has strong management team. Therefore it will report very decent amount of profit whether the property market is strong or weak. Underappreciated property counter.

Despite the cooling measures initiated by the government the past few years to check the property market from rising too rapidly, the Board is optimistic of the Group's performance for the financial year 2018.

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=199226&name=EA_FR_ATTACHMENTS

http://klse.i3investor.com/blogs/hleresearch/159402.jsp

Recovery in housing loan approvals => recovery of property market?

http://cdn1.i3investor.com/my/files/st88k/3174_L&G/pt/ALLIANCE/3174_L&G_ALLIANCE_2018-06-01_BUY_0.24_Land%20&%20General%20Bhd%20-%20Bumper%20Dividends_-1723228206.pdf

Target price by AllianceDBS Research : 24 sen

Tropicana will move north as soon as it announces the sale of its nearing completion W Hotel and the Tropicana Gardens Mall....

Tropicana’s profit before tax (“PBT”) came in at RM85.4 million in Q1 2018, surging 110.7% from
RM40.5 million in the corresponding quarter in 2017, led mainly by the property development
segment. The Group’s earnings per share (“EPS”) for Q1 2018 stood at 3.17 sen against 1.89 sen
recorded previously.

Tropicana’s prudent cost savings initiatives and ability to align its growth strategies to suit the
changing market environment saw its net profit rise 84.6% to RM52.2 million in the first quarter of
2018, from RM28.3 million recorded in the corresponding quarter in Financial Year (“FY”) 2017.

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=87248&name=EA_GA_ATTACHMENTS

http://land-general.com/assets/upload/LGH_-_171102_-_Initiation_-_ADBS.pdf

"OPSB has written to Petronas requesting termination of the Ophir RSC, which would result in Petronas, as the owner of the field, assuming responsibility for the field, accepting novation of contracts and reimbursement of capital and operating costs not previously reimbursed via proceeds of petroleum sales."

In other words, Scomies should be compensated accordingly as it holds a 30% stake in OPSB.

It's a matter of time for it to divest W Hotel to realize the profit & cash flow for the group to further degear itself.

No point working hard to develop its land bank when no one believes in property sector & counters at this juncture... the counter simply could not move up despite pretty good profits reported in the last 2 years notwithsatnding the challenging property environment...no one appreciated the company's financial performance......

https://www.tropicanacorp.com.my/media-centre/from-the-press/2018/new-straits-times-8-march-2018-tropicana-reaps-benefits-of-landbanking

Waiting for it to dispose of W Hotel to realize extraordinary gain...........

Unbilled order book is equivalent to 2.7x times of 2017 annual revenue. Hence, good earning visibility for 2 years.

http://cdn1.i3investor.com/my/files/dfgs88n/2018/01/16/1507091895--1262452000.pdf

"Our 7-year Ophir Risk Sharing Contract (“RSC”) was a major
operational highlight during FY2017. The Ophir project is a seven-year
RSC contract secured in 2014 with consortium partners and is
located off Kerteh, Terengganu, Malaysia.

SESB managed to bring down operating costs which has allowed Ophir to remain viable in
the present scenario."


The above comment was made in its 2017 Annual Report (page 16) issued in July 2017 when Brent Oil price was much lower. So, RSC should be very profitable when Brent Oil trades at US$60 per barrel and above.

https://www.thestar.com.my/business/business-news/2017/01/12/rsc-lease-of-life/

This is the reason why Scomi Group wanted to makan or merge with Scomies earlier

http://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=13392

Just wonder why Tropicana can dispose of the newly completed W-Hotel to unlock its hidden value and book in some substantial extraordinary gain from the disposal....

https://www.thestar.com.my/business/business-news/2017/01/12/rsc-lease-of-life/

http://www.macrotrends.net/1369/crude-oil-price-history-chart

This is one of the cheapest construction firms yet to be appreciated..... trading at < PE of 8

http://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=7617


Under the joint-development deal, Malton will bear the entire development cost, while Ho Hup provides the land and is entitled to 18% of the estimated GDV of RM3.4 billion. The project comprises a shopping complex, shop offices, office tower, service apartments and a hotel. This alone will translate into RM612 mil cash flow for Ho Hup from the JV.

http://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=13546

http://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=13614

The last 5 year history or record showed that this counter only had a brief rally period which was not sustained for long. Effectively the major shareholders did not do much to reward its long term minority shareholders in terms of capital appreciation like other more reputable property counters like LBS. It looks like the company or its principals have no or little regards or confidence from the investment community. It is simply a hopeless company after all as its share price has been one of the worst performing for the last 3 years.

Most of its properties will be priced below RM1 mil. It has more cash than loans. Its land bank is mostly undervalued too.

Just keep this counter for another 2 years to see the result since its CEO is too old to work faster to launch the projects to unlock the value of this company.

Whatever bad news or kitchen sinking news has been reflected in its 5 year low price. This counter is poised to recover strongly in the near future as it is still one of the main beneficial parties to the Pan Borneo highway construction. Moreover, it has strong shareholders to support the company. Just keep this for a year. The upside should outweigh the downside.

RM400 mil cash & short term funds in hand !!

Half year EPS = 1.98 sen

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=198031&name=EA_FR_ATTACHMENTS

http://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=13392

$$$$$$ =>> Scomies

http://www.malaysiastock.biz/Company-Announcement.aspx?id=1013190

Closing date: 22 Nov 2017

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=183138&name=EA_DS_ATTACHMENTS

The new shareholder will likely stop supporting the share price once the deadline for minority shareholders to accept the current MGO @ 16 sen is over..... be careful....

Even the previous MAJOR shareholder (the late Tan Sri LIm Goh Tong's son) held and controlled the company for 15 years and didn't manage to add value or enhance the company value, and finally had to sell off his entire stake at 16 sen per share last month..........pity those who bought into this counter earlier this year when it was pushed up to 71 sen for no reason or positive development in the company......sigh......

We maintain our forecasts, FV of RM2.76 and BUY call, following an analyst briefing yesterday. Our FV is based on 12x FY18F FD EPS, in line with our 1-year forward target PE of 10-12x for small-cap construction stocks.

YTD, Kimlun’s construction division has bagged about RM0.9bil new jobs, boosting its balance order book to approximately RM2bil (including the RM50mil Tanjung Langsat–Cahaya Masai Toll connecting road contract awarded by Mah Sing announced yesterday). Kimlun believes it should end FY17F with total job wins of about RM1bil, vs. RM1.4bil it secured in FY16.

For FY18, Kimlun is mixed on the prospects of construction job wins. While it is confident of securing about RM500mil worth of government-funded affordable housing projects (such as PR1MA and Selangorku), it is cautious on the private property sector (given the still soft property market) and the public infrastructure sector (given the unpredictability of the actual timing of the rollout of key infrastructure projects including the East Coast Rail Link and KL-Singapore High-Speed Rail).

We have raised our assumption for construction job wins in FY17F to RM1bil (from RM900mil), which is offset by higher interest expenses arising from higher capex of RM60mil and RM30mil in FY17-18F as guided (vs. our assumption of RM15mil annually), largely to facilitate the execution of the RM1.46bil Pan Borneo Sarawak contract. For FY18-19F, we maintain our assumption for construction job wins at RM700mil annually.

Meanwhile, its manufacturing order backlog remains elevated at RM320mil (vs. RM260mil six months ago), underpinned largely by MRT2 orders comprising segmental box girders, tunnel lining segments and other pre-cast concrete products (with a total value of RM280mil), with the balance coming from recurring orders from various infrastructure projects in Singapore.

We project Kimlun's FD EPS to contract by 20.8% in FY17F from a high base a year ago (largely due to lumpy variation order claims recognised during the year). Its earnings growth momentum should resume in FY18F (+27.7%).

We continue to like Kimlun as it is a good proxy to the booming local construction sector given its involvement in the MRT2 (supply of precast concrete segments), Pan Borneo Highway and the construction of affordable housing. Kimlun's earnings profile has improved tremendously as it no longer relies solely on building jobs, but has expanded to infrastructure (Pan Borneo Highway). Similarly, its manufacturing unit has widened its product offering with the latest being rail sleepers and parapet walls.

AmInvest Research - 29 Sept 2017

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5396937

L&G Icul's conversion price of 20 sen means: 1 ICUL @ 13 sen + 7 sen cash => 1 ordinary share

http://www.theedgemarkets.com/article/inta-bina-may-climb-higher-says-rhb-retail-research

https://www.thestar.com.my/business/business-news/2017/09/16/low-oil-price-a-blessing-in-disguise-for-enra/

http://www.theedgemarkets.com/article/top-gloves-lim-buys-1024-tropicana

The entry of TSDLWC has effectively removed the fear of this company being taken private in the foreseeable future.

Great news for the investors.

It can shoot up much more if it could sign a JV to develop a property project without having to pay the land cost upfront. This may happen given its strong track record in constructing high rise buildings.

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=82678&name=EA_GA_ATTACHMENTS

It should start securing new projects soon as the property market has seen some projects having been well received by the public with good take up rates upon launching

It's a matter of time for prime property counters to regain their glory and be appreciated. Three years have passed.........