there are three packages total RM2bil. one awarded to Taliworks, two more yet to be awarded

https://www.theedgemarkets.com/article/johan-unit-dynacare-starts-glove-production-receives-deluge-enquiries-buyers

https://www.theedgemarkets.com/article/ctos-rce-capital-among-33-counters-newly-classified-shariahcompliant-says-sc

merely observation from the lazada.sg website shared by @calvintaneng. yes ASP keep falling, but what's Harta's costs and profit margin per cartoon?

selling price very good, cheapest nitrile SGD14/100pcs @ SGD140/ cartoon @USD103/ cartoon

what is Harta's margin against other competitors, any idea?

investment in Bhadla Solar Park starting to generate profit last qtr

profit should be much more than that, very specialized works and high risk and little competition (only 1 bid)

go back pre-covid price 6.20 - 7.00

https://www.100sdgcorp.com/

uncle george no 30 don't play play

I anticipate the coming qtr will be good. Payment from LRT2 after closing Final Account last qtr. Payment from construction of glove factory.

The next qtr will even be better, payment from LRT3

https://www.theedgemarkets.com/article/nine-bidders-construction-rasau-water-treatment-plant

chances look good based on this news.

use the cash earning to pay for the factory expansion and accelarate the capex, increase the expenditure a bit?

2021 - 44 bil gloves
2026 - 93 bil gloves

how to value price? base on price?

https://www.malaysiastock.biz/GetReport.aspx?file=2021/9/30/3441%20-%201812412230244.pdf&name=JOHAN%20HOLDINGS%20BERHAD%20Press%20Release.pdf

1st line by mid Oct
4 lines by end Dec

can Hong Seng's nitrile butadine compete with PChem? even LCTitan has difficulties.

haha, maybe abang adik with Uncle Sam's Honeywell. Check coming qtr report from Johan, glove manufacturing supposed to start operation in October

should be for period Jan - Dec 2022

https://www.petronas.com/pcg/media/media-release/pcg-lg-chem-collaborate-build-nbl-plant-pengerang

I waiting for this to happen in 2023. Costs will be cheaper.

@awangkign007, I hope you are right on the below 5

capacity will be increased by at least 50% next year to around 50bil+ compare 2019 35bil+, much lesser financing costs and improved automation in 2022

yes, I m wrong on this. But for year 2022, how much expected PBT for Harta? I think much more than 700mil.

tax assessment year 2022 means income derived in 2021. So, Harta's estimated PBT for year 2021 is how much?

https://www.malaysiastock.biz/GetReport.aspx?file=2021/9/30/3441%20-%201812412230244.pdf&name=JOHAN%20HOLDINGS%20BERHAD%20Press%20Release.pdf

https://dynacare.com.my/about-us/

the booked profit based on MRCB qtr

look like the LRT3 not good deal. total discounted cash 106mil for 11.6bil contract. from begining of fixed price contract until June 21, already booked profit 33.15 each. GK getting 53mil in this deal, so there shld another additional 20mil in coming qtr? so to get out a bad a bad deal with payment is a good deal with loss of disposal only 4mil, I think. otherwise, GK has to maintain a bond 568mil (share half) until 2029 with other liabilities

waiting offer buy/ sell from MRCB

https://www.theedgemarkets.com/article/mrcb-acquire-george-kents-stake-lrt3-jv

Deadlock expect to expire this month. But The Edge repeated the one sided news.

@limeh48
yes, SD need to drop the suit otherwise KPMG will not take the risk to expose all their cards to EY

the Cockroach Theory yet to be proven

maybe arbitration and breach intentional to delay the activation of deadlock? balance of works more manageable and extra RM500mil sukuk ready to take over.

nobody disturbing now
https://www.theedgemarkets.com/article/tajuddin-has-been-sacked-prasarana-chairman

@gentingreal.

https://en.wikipedia.org/wiki/Deadlock_provision

Russian roulette. A draconian solution to a deadlock, a Russian roulette provision requires one of the two deadlocked parties to serve a notice on the other party, and the serving party will name an all-cash price at which it values a half interest in the business. The party receiving the notice then has the option to either buy the other party out, or sell out to the other party, at that price.

https://www.lrt3.com.my/overall-linewide-progress/
The progress is 51%++ now. By the time offer is made (4 months sometimes in September), the progress will be around 60%++, the foundation and structure the most difficult part would have completed. The remaining works will be mostly rails, system and M&E works which are easier for GK. With the RM500mil sukuk, if the offer is low price, GK can buy the half share to complete the remaining works. If the offer is good, GK can sell and we get special dividend!

GK already standby RM500mil sukuk. guess the arbitration was to buy time for this arrangement

it appears the deadlock on the issue of shareholding funding is intentional so that now one of the JV party has the option to take over completely. Whether GK takeover or sell its share, either is still good news. If takeover, then have the entire share but of course higher risk. prefer for GK to let go so that can take their half share which is risk free at DCF basis.

@DannyArcher, yes, that's the concern

Johan: I give you this project RM624mil, no need tender. You give me RM40mil discount and help me with some paperworks to get bank loan.
GK: OK, no problem

the one jumped is Johan, GK only there to backup. if you see the arrangement, financing is actually 100% from Johan. the only concern is the glove business losing money

Johan need GK to get bullets from bank. So the questions:

1. Say GK pay Johan RM40mil to do the project without the 40% share, is this ok? On paper, the profit from the construction of this size should be more than enough to cover the RM40Mil advanced. So, this should be ok to shareholders.

2. Now GK pay RM40mil, do project get profit and get 40% share in glove business. Is this acceptable?

Johan has RM200mil cash from sales of business, TKH could just take his share instead putting in glove business. But he could have made a wrong decision.

@InsiderShark

Johan disposed business using the cash to invest in glove business. GK as partner do 624mil construction and will be getting profit from construction and 40% share glove business. As long glove business not losing money, then should not hurt GK. If glove business breakeven, GK getting profit from construction only which should be able to cover the 40mil investment. If glove make some profit, GK gets extra pocket money in future. Look ok. But GK need to get the 40% share?

only pay 40mil. get 624mil project 40% share in new company.

MRCB got RM8mil PAT from LRT3

https://www.lrt3.com.my/overall-linewide-progress/

Excellent! Progress ahead the target of 40% despite delayed payments from Prasarana.

Don't think many main contractors in the market undertakes to do the whole project on their own without sub-letting.

if there is no basis to refuse payment, they have to pay. if the government can get away with this, who will have confidence to do business in Malaysia?

https://klse.i3investor.com/blogs/LouisYapInvestment/2019-10-16-story230392-Malaysia_Stock_Analysis_GKENT_3204.jsp

https://www.theedgemarkets.com/article/george-kent-gets-honeywell-licence-manufacture-water-meter-components

they are aiming to increase water meter revenue from 30% to 70%. historically, water meter on average contribute annual profit about RM20mil.

https://www.lrt3.com.my/overall-linewide-progress/

https://www.theedgemarkets.com/article/newsbreak-prasarana-chairman-tajuddin-exerting-his-authority

progress already reached near 40%, not easy to remove Gkent without big compensation. further interference will disrupt the progress of lrt3 affecting public convenience, which can be a big national issue. appear Gkent reducing share buyback and stop paying dividend this quarter to weather the interference from Prasarana

https://www.lrt3.com.my/overall-linewide-progress/

doesn't look like delay

the LRT3 was awarded to MRCB George Kent Sdn Bhd as an entity. prasana cannot just remove GK alone. they have to remove MRCB GK S/B. then that would be wrongful termination unless prasana has good ground

anyone has info on the progress status of the RM1bil MRT2 system work package JV between CCCC-Gkent? Not mentioned in the Qtr and Annual Report.

results not that bad

https://www.theedgemarkets.com/article/cimbs-fy19-profit-rm456b-absence-oneoff-gain-while-transformational-costs-weigh