I have 3 questions. Hope someone can share their opinion.

1) How do IWH-CREC consortium fund the RM7.41 bil purchase of the land?
- No issue for CREC portion(40%) of RM2.96 bil as the company is state-owned by the government of China
- IWH portion (60%) of RM4.45 bil would be a large investment, no backing from anyone.


2) Why is Tan Sri Lim Keng Cheng selling his shares recently?

26-Apr-2019 Insider TAN SRI DATUK SERI LIM KENG CHENG (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider LIM SEONG HAI HOLDINGS SDN BHD (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider MR LIM KENG HUN (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider MADAM LIM PAK LIAN (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider DATUK LIM KENG GUAN (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider TAN SRI DATUK SERI LIM KENG CHENG (a company director) disposed 5,600,000 shares at 1.001 on 25-Apr-2019.


3. How does IWH consist of IWH(63%) and Kumpulan Prasaran Rakyat Johor Sdn Bhd(37%) fund the deposit of RM1.2bil in 60 days?

- No mentioned of IWCITY or Ekovest helping out IWH.
Unlikely these 2 listed company able to fork out RM756 mil cash to help out IWH portion.

I have 3 questions. Hope someone can share their opinion.

1) How do IWH-CREC consortium fund the RM7.41 bil purchase of the land?
- No issue for CREC portion(40%) of RM2.96 bil as the company is state-owned by the government of China
- IWH portion (60%) of RM4.45 bil would be a large investment, no backing from anyone.


2) Why is Tan Sri Lim Keng Cheng selling his shares recently?

26-Apr-2019 Insider TAN SRI DATUK SERI LIM KENG CHENG (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider LIM SEONG HAI HOLDINGS SDN BHD (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider MR LIM KENG HUN (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider MADAM LIM PAK LIAN (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider DATUK LIM KENG GUAN (a substantial shareholder) disposed 5,600,000 shares on 25-Apr-2019.
26-Apr-2019 Insider TAN SRI DATUK SERI LIM KENG CHENG (a company director) disposed 5,600,000 shares at 1.001 on 25-Apr-2019.


3. How does IWH consist of IWH(63%) and Kumpulan Prasaran Rakyat Johor Sdn Bhd(37%) fund the deposit of RM1.2bil in 60 days?

- No mentioned of IWCITY or Ekovest helping out IWH.
Unlikely these 2 listed company able to fork out RM756 mil cash to help out IWH portion.

I thought someone mentioned that the Jaks management is looking at COD for 1st unit by end 2019.

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Posted by GoHaiDuongGo > Apr 28, 2019 3:24 PM | Report Abuse

http://www.aepc1.ceec.net.cn/art/2019/4/28/art_14630_1888042.html

Working extra hard. COD for Unit #1 will be achieved in 3rdQ2020, and Unit #2 in 4thQ2020 if not earlier.

The private placement at 79 cent looks attractive as compared to market price.

Worth to subscribe.

https://vietnamnews.vn/opinion/519127/coal-fired-power-plant-development-must-come-with-environmental-protection.html#HfKHOFChJE0WGPRR.97

@ uptrending

Have been waiting for this comment.
At least someone here share similar thoughts.

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Posted by uptrending > Apr 26, 2019 11:40 AM | Report Abuse

Do all gaps get filled?
Most gaps do get filled at some point in time. However, there are exceptions. ... Breakaway gaps are usually among the last gaps to get filled because they are at the start of a move and nearly 100% retrenchment will be necessary to fill the gap properly. H.M.

@ astalavista

Iskandar Waterfront Holdings Sdn Bhd (IWH) owns 38.35% of listed company IWCITY Berhad.

Not the other way around.

https://www.edgeprop.my/content/1221213/lim-kang-hoo-suffers-setback-iwh-iwcity-merger

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Posted by astalavista > Apr 25, 2019 6:49 PM | Report Abuse

Must remember guys..we all are here to make money...Tun is my honest man..he already said to revive the BM with IWH-CREC partnership.

Today signed frame work..IWCITY owns some portion of IWH..history repeats same goes to Ekovest..hope for the best !

@ derrtan

Read the general article regarding the BM project.
Which companies involved?


https://themalaysianreserve.com/2019/04/22/bandar-malaysia-to-restart-ihw-crec-is-master-developer/
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Posted by derrtan > Apr 25, 2019 6:09 PM | Report Abuse

does ekovest really involved in bandar malaysia development?

Just a reminder for those buying in.
As mentioned by many here, Ekovest is not the party getting the Bandar Malaysia project.
Probably through related company by LKH, there would be some portion allocated.
However, there is no black and white till it's sign and official.

Besides, there's no fundamental in this rally and it's all hype, and it wouldn't last long, and it will reverse.

Please exercise caution and focus on the fundamentals of the company main biz.

Impressive rally for Hibiscus since Jan 1 2019 from 85 cent to 1.18.
38% appreciation in just 4 months into the year.
Congrats to those holding it.

What is your target price?

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Posted by (2.6m shares buyback April ) Philip > Apr 23, 2019 7:27 AM | Report Abuse

No need to be so emotional shquah. If they keep writing because things it is even better as if the price can go down by 30th April when I receive my dividends I can buy more stock in it.

Yeah looks like it.
Buyers more than sellers.

Those who had entered on Friday would had made a large gain.

Previously, when Bandar Malaysia was announced with similar IWH-CREC consortium, IWCITY limit up from 90 cent to more than RM3.

The same this round?

If Ekovest could get only 1% of the GDV of RM140bil, it's still a sizeable portion nonetheless.

Ekovest was never involved in Bandar Malaysia project.
It's always had been.
No surprises.

However, it is related to IWCITY which could award or subcon some portion of the construction or development work.

I believe most Ekovest buyers are looking at that perspective instead.

IWCITY valued at ?

What we know:

In December 2015, the Finance Ministry sold off a 60% stake in Bandar Malaysia for RM7.4bil to a consortium consisting of IWH-CREC.

IWH-CREC is a 60:40 joint venture (JV) between Iskandar Waterfront Holdings Sdn Bhd (IWH) and state-owned China Railway Engineering Corp (M) Sdn Bhd (CREC). Businessman Tan Sri Lim Kang Hoo holds a 63% stake in IWH, while Kumpulan Prasarana Rakyat Johor Sdn Bhd owns the remaining 37%.

Meanwhile, IWH owns a 37.72% stake in public-listed firm IWCity. Both Ekovest and IWCity have a common major shareholder in property tycoon Lim.

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https://www.theedgemarkets.com/article/bandar-malaysia-resuscitation-positive-local-construction-sector

https://www.thestar.com.my/news/nation/2019/04/20/bandar-malaysia-to-take-off-again/

@ Bursalord

Of course.

Gkent had nothing to do with ERCL, only HSR, PMTP and MRT.

It's been great every since holding it from 13 cents.
Time to let go.
I've enough.

Wait till 5pm to know more.

The investor subscribing the 80 cent PP would be better off accumulating it from the open market.

@ Jarklp

DK66 and Icon1888 knows the details and agreement as well. You may query them.
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Posted by Jarklp > Apr 19, 2019 11:41 AM | Report Abuse

Put aside the valuation, can you trust ALP? Do you believe the management is able to execute the plan if they can't even complete the Star project on time locally? They failed to dispose the mall for years. Keep asking for money like a spoilt kid. No one really knows the details terms of the agreement except the management. They were so scared to let Kyy joins to board last time.

Good luck!

Spot on Lizi.

Somehow only Sinchew got the news.

Press conference to 1 company only.

Don't make sense.

Good luck to those bought this morning.

Wow.
I'm lost.
So many messages flying around.

Private placement this round.

Previously was Rights Issue and the share plunge from 1.40-0.42.

Now is private placement. Existing shareholder do not need to pump in more cash.

@ Icon8888

Firstly, I don't really like these analysts from IBs as well.
But DK66 and yourself are saying they are wrong in their analysis and valuation.
Do you know these group of analysts from Public Invest went to meet with their management people.

So what I gather from DK66 and you is, YOUR info and God level analysis from the media and 3rd party sources are more accurate than the interview done face to face by Public Invest team which comprise of fund managers, research analyst,etc with Jaks Resources management people(probably include ALP).

Maybe you should take a step back and think over it.
I'm not here to trigger an argument.
Don't you think your pride is getting ahead of everything.
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Posted by Icon8888 > Apr 17, 2019 2:16 PM | Report Abuse

The problem with you and many others in life and in stock markt is lack of confidence of your own intellect

For example : in your comments above, you automatically assume the analyst was right . Hence you rationalise and justify for him. And you do that by distorting the real picture by making all kind of silly assumptions etc

An independent thinker is different. He will look at the analyst report, and with a healthy dose of skepticism and contempt, he proceeds to point out what he think is the unreasonable and illogical part

Can you see the difference ? One is a small kid being pushed around. The other is an adult that think objectively to try to figure out the truth

Who do you think can be a better decision maker in stock market and in life ?

From my point of view regarding the Public Invest Report, it seems that the TP=0.75, does not include the ownership and future contribution of the power plant.

I believe it's because Public Invest is right not to include the future earnings of the power plant as Jaks Berhad and Jaks Hai Duong Power are separate entity by law.

Jaks Berhad was awarded the contract to part develop the power plant with CPECC. Future earnings from the power plant biz from JHDP may not necessary be passed back to Jaks Berhad. In fact, it's up to Jaks portion(at JHDP level) whether to include this earnings back to Jak Berhad level.

If I'm ALP, I would not transfer back the earnings to Jak's Berhad as it would require more transparency(due to Bursa & SC regulation) of how ALP can use the cash at listed company level.

I know someone will shoot down this comment as ridiculous.

CYBERJAYA: Dr Mahathir Mohamad says the high-speed rail (HSR) project between Malaysia and Singapore which was suspended last year is still on hold pending talks between the two governments.

“For the time being, we are not going to build.

“We have asked for two years before we talk again,” the prime minister said. “At the moment, we have not given any contracts. So we have to compensate Singapore.”

The agreement saw the project deferred until May 31, 2020. If by then Malaysia does not proceed with the project, it will also bear the agreed costs incurred by Singapore in fulfilling the HSR bilateral agreement.

In July last year, Singapore said it would seek to recover over S$250 million (US$181.66 million) in costs incurred to date should Malaysia cancel the project.

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https://www.freemalaysiatoday.com/category/nation/2019/04/16/hsr-project-still-on-hold-govt-to-compensate-singapore-says-dr-m/

HSR to Singapore nice to have but priority is to improve Malaysia's existing rail system, says Mahathir
Last September, both neighbours agreed to the deferment till May 2020, and Malaysia has reimbursed Singapore $15 million for abortive costs incurred by the delay.
At a retreat last week, Dr Mahathir and Prime Minister Lee Hsien Loong noted that Malaysia is exploring the possible way forward, with the aim of cost reduction.
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https://www.straitstimes.com/asia/se-asia/mahathir-says-improve-malaysias-existing-rail-system-before-building-hsr-to-singapore

http://www.myhsr.com.my/kl-sg-hsr/project-overview

http://www.cccc.com.my/ongoing-railway

@striker888

Read my response carefully for wilsonboon.
Wilson mentioned HSR station will intersect with ERCL.
I told him look at the alignment for HSR and ERCL website.

Foolish people always disgrace themselves.
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Posted by striker888 > Apr 12, 2019 3:24 PM | Report Abuse

Sohigh newbie8080, what you listed was the KL-Singapore Rail, not ECRL, ha-ha dumb dumb.

@ wilsonboon

Please stop the fake news.

The iconic project will include 7 stations in Malaysia – Bandar Malaysia, Sepang-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri, before reaching its last destination in Jurong East, Singapore


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http://www.myhsr.com.my/kl-sg-hsr/project-overview

http://www.cccc.com.my/ongoing-railway

@ DK66

Bro, I already mentioned that I'm not against anyone especially you(DK66) & Icon8888.

No hard feelings. We are here to share our thoughts only. It's called constructive criticism.

In fact, you did well writing up so much of the power plant and convincing everyone here the potential value of investment.
It was good effort sharing with everyone here your analysis and logic.

However, I felt disappointed when you lowered your TP which you always strongly believed.

Even though, my personal valuation is not as optimistic as your earlier TP of RM7 to RM10.

To be honest now, your current lowered TP is quite close to mine.

My reason is , Jaks would not be able to exercise the additional 10% stake due to lack of funds currently. Besides, assuming Jaks is financially able to exercise it in 2021-2023, it would be at a premium if the profitability of the power plant is proven by then.
CPECC would be foolish to let go of the 10% stake at just USD60 mil(DK66 estimation).
It should be worth more than USD150mil(my estimation), which is beyond Jaks's ability to exercise as Jaks would need to service USD36mil p.a for the loan taken for Hai Duong.

Besides that, on the local front, the property issues, bleeding mall and RM48 mil p.a. servicing on the existing borrowings would prove heavy burden.

Thus, I would not discount that Jaks would be executing another rights issue or issuance of corporate bonds/sukuk(perpetual)in the next 1-2 years from now.

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Posted by DK66 > Apr 12, 2019 11:02 AM | Report Abuse

Newbie8080,

I know you don't like me, so i won't expect anything nice from you.
If you can't accept the rationale behind the changing for my TP and insist on calling it a downgrade. So be it.

If you don't care about people's money or life. Nobody will care about you either.

I made my choice. I wish for no harm caused by me.

===========================
newbie8080 @ DK66

Bro, I thought I'm having a dream when I read this statement.
I actually slap my face twice.

From TP of RM7 to RM10, all the way down to RM2.50.

It's a massive downgrade.

You either know the true intrinsic value of Jaks Hai Duong Power Plant or you don't.
If you do, you should standby your principle.

It's sad to see your moving goal post.

It reminds me of the analyst from IB.
These individuals are spineless, provide a FV and when there is some changes to external factor they would revise FV every 3-6 months.
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Posted by DK66 > Apr 12, 2019 9:05 AM | Report Abuse

After reading the optimus incident, I realised that there may well be people who just take whatever coming his way. Desperate to Huat and choose the biggest airplane to embark without knowing the destination of the flight.

Because of this, I m revising my TP to a more sensible RM2.5 and slowly upgrade the TP alone the way. I do not want a repeat of optimus tragedy.

So, YES, my TP is RM2.50 for now. Please take note.
12/04/2019 10:56 AM

No mentioned of Bandar Malaysia.

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https://www.thestar.com.my/business/business-news/2019/04/12/ecrl-to-go-ahead-as-costs-reduced-by-rm2pt5b-to-rm44b/

@ DK66

Bro, I thought I'm having a dream when I read this statement.
I actually slap my face twice.

From TP of RM7 to RM10, all the way down to RM2.50.

It's a massive downgrade.

You either know the true intrinsic value of Jaks Hai Duong Power Plant or you don't.
If you do, you should standby your principle.

It's sad to see your moving goal post.

It reminds me of the analyst from IB.
These individuals are spineless, provide a FV and when there is some changes to external factor they would revise FV every 3-6 months.
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Posted by DK66 > Apr 12, 2019 9:05 AM | Report Abuse

After reading the optimus incident, I realised that there may well be people who just take whatever coming his way. Desperate to Huat and choose the biggest airplane to embark without knowing the destination of the flight.

Because of this, I m revising my TP to a more sensible RM2.5 and slowly upgrade the TP alone the way. I do not want a repeat of optimus tragedy.

So, YES, my TP is RM2.50 for now. Please take note.

@ Ron90

It's actually the opposite.
Gkent was never the beneficiary of ERCL.

But if ERCL can be resurrected, it will provide a basis for HSR project which Gkent is involved.

HSR is pending renegotiation.

Posted by Ron90 > Apr 12, 2019 8:53 AM | Report Abuse

i dont see gkent will become the major beneficiary for ecrl project..compare to the other construction giant like gamuda, mrcb, and dont forget MMC

I think someone of you have a point on the share weaknesses.
Well, to be honest it had rallied from 50 cent to 65 cent.

It's considered an impressive run in a short span of time.
Expect some consolidation which is normal.

For traders, it's buy on rumours, sell on news.

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https://www.thestar.com.my/news/nation/2019/04/11/report-malaysia-china-to-sign-ecrl-agreement-on-friday-april-12

@ optimumprime88

I may not be very optimistic like DK66's TP of between rm6 to RM10, but I do believe it's definitely worth more than RM1.
Don't put a promise you don't intend to keep.
I think just a yes or no should suffice bro.

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Posted by optimumprime88 > Apr 11, 2019 2:50 PM | Report Abuse

go ahead mark my word if cross above 1 i cut my ball

Yup old news.
Maybe a revival by Tun M and Daim

If I recalled, GKENT has interest in HSR,Double tracking project and the Penang's LRT & Monorail under PMTP.

Didn't know ERCL was part of the company's plan.

The Pavillion @ Bukit Jalil looks on track.
It's massive piece of property development.
Will boost the NTA definitely.

The above are just for your reference.
Nothing more.

I've nothing against Jaks or DK66 or Icon8888.
Just purely sharing.

Consider Phillip is very patient in describing his view and critics.
I prefer to post materials not written by me to avoid further critism.

Hydro Power Vs Thermal Power: A Comparative Cost-Benefit Analysis

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http://openaccesslibrary.org/images/HAR224_Adesh_Sharma.pdf

A Guide for Developers and Investors- Hydroelectric Power
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https://www.ifc.org/wps/wcm/connect/06b2df8047420bb4a4f7ec57143498e5/Hydropower_Report.pdf?MOD=AJPERES

KUALA LUMPUR (April 10): Shares in Iskandar Waterfront City Bhd (IWCity) and Ekovest Bhd continued to climb this morning, as potential revival of the Kuala Lumpur-Singapore High Speed Rail (HSR) project breathed optimism into other mega projects under scrutiny.

IWCity, which was in the run-up to participate as the master developer of the RM160 billion Bandar Malaysia mixed development project, climbed to its one-year high of 94 sen this morning.

At 11.05am, the stock pared gains to trade at 92.5 sen, up seven sen or 8.19%, with a total of 49.27 million shares done.

The counter has risen about 57% since it was more actively traded starting from Feb 21, as the government appeared to take a more positive stance with regard to the East Coast Rail Link (ECRL) project, lending hope to the continuation of other mega projects under review.

Ekovest shares, meanwhile, were traded two sen or 3.7% higher at 56.5 sen, after 33.65 million shares were done.

Both counters, which have a common major shareholder in property tycoon Tan Sri Lim Kang Hoo, were on Bursa Malaysia's most active list this morning.

Yesterday, Prime Minister Tun Dr Mahathir Mohamad said Malaysia is exploring proposals aimed at reducing the cost of the HSR project and will be discussing this further with Singapore before the end of the suspension period on May 31, 2020.

He told a joint press conference with his Singapore counterpart Lee Hsien Loong yesterday that Malaysia is also looking at affordable and sustainable alternatives to the Johor Bahru-Singapore Rapid Transit System Link (JB-Sg RTS) project.

@ Icon8888

Not allegation bro.
I believe you are quite wise in your investment.
Don't need a rocket scientist to figure out that Hydropower has better profit margin and less costs to maintain than a coal fired plant.
You should be able to figure it out one day.
I'll end my topic here before it dwells too long.


Posted by Icon8888 > Apr 10, 2019 11:21 AM | Report Abuse

Then you tell me how to count lah

We need details

Allegations not good enough


Posted by newbie8080 > Apr 10, 2019 11:08 AM | Report Abuse

ICON, your post on comparing MFCB's Laos Hydropower vs Jaks Hai Duong Coal fired plant, is not apple to apple comparison in term of earnings, costs, etc.

ICON, your post on comparing MFCB's Laos Hydropower vs Jaks Hai Duong Coal fired plant, is not apple to apple comparison in term of earnings, costs, etc.

KUALA LUMPUR (Nov 23): Ekovest Bhd has submitted a proposal to become a development partner of Bandar Malaysia, said managing director Datuk Lim Keng Cheng.

“They [Bandar Malaysia Sdn Bhd] are requesting proposals from local developers to identify development partners for the project, and we have submitted our proposal,” Lim told reporters after the company’s annual general meeting (AGM) today.

“We will participate in the project if we have the opportunity. We are not ruling out any possibilities,” he said, adding that the outcome of the proposal submissions would be disclosed next year.

The 486-acre development in Sungai Besi, Kuala Lumpur is a mega project with an estimated gross development value (GDV) of RM200 billion.

Due to Ekovest’s executive chairman and substantial shareholder Tan Sri Lim Kang Hoo’s stake in Bandar Malaysia, the directors have, at the 31st AGM today, proposed a renewal of shareholders’ mandate for recurrent related party transactions to pave the way for the company’s participation in the Bandar Malaysia development, he said, adding that the resolution was subsequently approved.

Kang Hoo is the executive vice-chairman of Iskandar Waterfront Holdings Sdn Bhd which owns 60% of Bandar Malaysia Sdn Bhd together with China-based China Railway Engineering Corp.

Phase 1 of Bandar Malaysia is expected to start next year and will cost between RM50 billion and RM60 billion. This phase will sprawl over 100 acres and is expected to be completed in six to eight years.

News of HSR will help booster Ekovest also, as Bandar Malaysia is also one of the station in Bandar Malaysia.

Previously Bandar Malaysia development news will also include Ekovest in the building of the iconic city.

11 months to completion of Duke3.
RM3.6 bil project valued at RM5.04 bil.
Valuation at 1.4 times as sold to EPF(as previous Duke 1&2)

KUALA LUMPUR: Gamuda Bhd and Kumpulan Perangsang Selangor Bhd (KPS) announced yesterday that they have resolved to accept the state government’s offer for Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH), confirming a report by The Edge Financial Daily published on Monday.

In a filing with the stock exchange yesterday, both companies said Pengurusan Air Selangor Sdn Bhd (Air Selangor) and SPLASH are expected to finalise the terms and conditions of the share purchase agreement (SPA) by Sept 14, 2018.

Last Friday, newly appointed Selangor Menteri Besar Amirudin Shari announced that Air Selangor had offered to buy out SPLASH’s water treatment assets for RM2.55 billion. The acceptance of the offer would mark an end to the water impasse in Selangor that started over a decade ago.

Based on the offer, Air Selangor will make an upfront payment of RM1.9 billion upon the signing of the definitive agreement with the remaining RM650 million being paid in instalments over nine years.

The divestment is expected to earn Gamuda an instant cash payment of RM760 million.

Sources said earlier that Gamuda’s 80%-owned unit Gamuda Water Sdn Bhd would also continue to be the O&M contractor, but with renegotiated contract terms between the company and the state government.

On the other hand, KPS is expected to receive an upfront lump sum of cash totalling RM570 million or about RM1.06 per share, with the remaining RM195 million to be paid in instalments over a period of nine years. A bumper dividend is said to be on the cards for KPS shareholders, according to analysts familiar with the deal.