Please go to bursa website and see. News is out on winding up/ receivership.

Receivership. Protection against bankruptcy.

Nov 5 Cuti am

Real mess

Come on, TS WONG

Nigeria refinery facilities exploded killing 30. They are also exporters of crude oil.

Hibi is going to take off like giant. Can’t buy mother share, atleast buy the warrant.

F**k Trump as**ole

Pakatan Debt Harapan

Adding to this misery is Dow Jones drop caused by Donald Duck.

LGE no power already. Always talk crap. You think investor want to believe him?

Feimah, Tan Sri Krishnan Tan Boon Seng was an Accountant when he was appointed MD of IJM. He brought the company to high spot because he decided many construction issue through his assistant Daryl Goh Chey Koon at that time.

Terribly wrong. Even a simple hardware shop have 3 types of quality in the product they sell. Murah punya, baik punya and bagus punya. Bagus punya is like Stanley hammer. Murah punya, use one or two days and it is gone. I am from a construction background and have undergone a termination process. As a developer even, it is not easily or cheap to re appoint another contractor. Terminated contractor will give hell of a problem. I my case what could be proven in my project and as shabby works and delay which all the while well documented with sufficient letters written to the contractor very timely. Hence the first hurdle with the terminated contractor was overcome.
In Gamuda-MMC case, I presume no delays or shabby works and safety is of top.
It will definitely cost the newcomer high as the cost of material had surely gone up. Where in the earth the newcomer is going to employ the retrenched workers again? He will have his own men.
The consultant who has proposed to the govt might have used the cost of cheap materials like ‘ murah punya to evaluate.This could definitely posed a danger for users in future or will incur a costly maintenance in future for rework, replacement etc.
What the current govt is doing is a terrible blunder on their part which Rakyat has pay for it. Not PH is going to pay from their pocket.
Btw I am not holding any Gamuda or MMC share.
Rakyat must voice out this atrocity towards Builders.

Of course lah, Reach is not supporting its price at all. See Hibiscus, some or rather it is well defended. This fellow want to tipu ikan bilis. Don’t know what to say.

Omg, this is another headache stock like KPS.

But when will it shine? I have it in cold storage now.

Mmc-Gamuda so blatantly hit.

LGE may turn his words based on today article by Mac-Gamuda. It usually happens in this regime.

Both direct and indirect, he holds almost 25%

Today’s buy is direct under his name according to the news

I am not sure. I am holding my part of the shares hoping to reach higher. Say about 85cents

Wong TS bought 900,000 shares today

Closing 76

Coming back

Wow, even EIA reports 8 million barrel, yet Brent hits high from 84.33 to 85 now.

2:3 bonus on 18 Oct 2018. Till then will be uptrend I suppose. Expecting 1.60 on bonus day.

Waiting for inventory report tonite at 10.30z Hopefully comes out with negative inventory.

Looks like. Now 85.22

1.27 is it collection for next play?

Brent 85.17 hoh

Hopefully surge

Warrant charging

85.09

85.06

Buy buy buy bull coming back

Brent 85.03

Terrible correction

Possible reason for the drop is due to contra taking profit. Will be up by tmrow noon session.

Oh no, pay off losses

Want to pay off debt.

Betul kah? JJ Chan?

Share capital reductuion

Silence. Preparing for the next upsurge.

Wait till 4 am friend. When I commented the futures were neg 80. I do trade in NYSE via CIMB invest. Current possible 0.17% can easily become red.

Wow wow wow, the battle for Rohan

Please do not go and buy hurry hurry Monday morning particularly for newbies and newcomers.Europe market is terribly bad and Dow Jones may not do well tonite. Brent oil price is so so. It is only a trial production and we do not know whether got anoconda or buaya. So guys, exercise your discretion and may be you may get 2 or 3 cents lower.

Air Selangors inks deal to acquire Splash

KUALA LUMPUR: Syarikat Pengeluar Air Selangor Holdings Bhd (Splash Holdings) today entered into a conditional agreement to sell water treatment concessionaire Syarikat Pengeluar Air Sungai Selangor Sdn Bhd to the Selangor government for RM2.55bil.

Splash Holdings is owned by Gamuda Bhd (40%), Kumpulan Perangsang Selangor Bhd (30%) and Sweet Water SPV Sdn Bhd (30%), a private vehicle of businessman Tan Sri Wan Azmi Wan Hamzah.

In filings with Bursa Malaysia, Gamuda and KPS said Splash Holdings would sell its 100% equity interest in Splash as well as all of its redeemable unsecured loan stocks in the concessionaire to Pengurusan Air Selangor Sdn Bhd (Air Selangor), which is owned by the Selangor government's investment arm Kumpulan Darul Ehsan Bhd (KDEB).



Advertisement

Air Selangor will pay RM1.9bil upfront and the balance in nine annual instalments.

The disposal is expected to be completed by year-end, subject to the fulfilment of conditions precedent. KPS, which is majority owned by KDEB, stood to receive RM765mil in gross proceeds for its stake in Splash Holdings, the company said in a press statement.

“The group is estimated to recognise about RM331.6mil in one-off loss on disposal, which is expected to have a significant impact on the group's net assets and earnings for the financial year ending Dec 31, 2018,” it added.

KPS Chief Executive Officer Ahmad Fariz Hassan said the conclusion of its involvement in Splash was part of its efforts to grow its core businesses into industry powerhouses and generate sustainable returns for shareholders.

"The group will adopt a prudent approach on balancing current needs and future growth in utilising the proceeds,” he added.

Meanwhile, Gamuda said the proposed disposal would enable it to monetise its investment in Splash and focus on its core business.

Air Selangor's acquisition of Splash is part of the state and Federal government's effort in consolidating and restructuring the water industry in Selangor, Kuala Lumpur and Putrajaya. This is done in order to increase water reserve margins and reduce non-revenue water, and get a step closer to achieving uninterrupted water supply within the Klang Valley and nationwide. - Bernama

KPS’ sale of Splash stake results in RM331.6 mil divestment loss but it pockets RM765 mil in cash

By Billy Toh | 2018-09-28 19:36:41
KUALA LUMPUR (Sept 28): The divestment of a 30% stake in Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Spash) is set to cost a one-time disposal loss of about RM331.6 million for Kumpulan Perangsang Selangor Bhd (KPS), according to a filing with Bursa Malaysia.

The proposed divestment is expected to be completed by the end of the year.

Today, the group’s 30% associate company, Syarikat Pengeluar Air Selangor Holdings Bhd (SPLASH Holdings) entered into a conditional share purchase agreement (SPA) with Pengurusan Air Selangor Sdn Bhd (Air Selangor) for the proposed disposal of its entire equity interest and redeemable unsecured loan stocks (RULS) in SPLASH to Air Selangor for RM2.55 billion cash.

State-owned KPS will receive RM765 million cash in the form of an upfront sum followed by nine annual instalments from the 30% stake.

The group’s chief executive officer, Ahmad Fariz Hassan, said in a statement that the conclusion of its involvement in SPLASH marks a further step towards refocusing on its endeavours in growing core businesses into industry powerhouses and generate sustainable returns for shareholders.

“In deliberating the utilisation of the proceeds, the Group will adopt a prudent approach on balancing current needs and future growth. In addition, we remain steadfast in implementing our value creation strategy in expanding our ongoing core businesses, achieving a lean balance sheet and ensuring the continued sustainability of the Group's overall performance,” Ahmad said.

However, the announcement had no mention of any dividend payout from the proceeds of the disposal, something that analysts were expecting prior to this.

Read more: http://www.theedgemarkets.com/article/bumper-dividend-cards-kps-splash-sale

A look at the group’s balance sheet would see that it has a net debt-to-equity of about 0.34 times based on its latest quarterly balance sheet.

Despite the one-time disposal loss, the note filed with Bursa pointed that the disposal consideration was within the valuation range as appraised by Moore Stephens, which arrived at the fair valuation of between RM2.1 billion and RM3.4 billion.

Prior to the announcement of the disposal of SPLASH, KPS’ share price was trading at around the RM1.90 level. Since then, its share price has fallen by about 14.7% to its closing of RM1.62 today. Nonetheless, the Group’s share price has seen a total return of about 25.11% ov

However, the announcement had no mention of any dividend payout from the proceeds of the disposal, something that analysts were expecting prior to this.

Who is saying gone case. The deal is signed. Not not sign. Pls understand.