big discount again. This may be the last chance!

OPEC: Cardiac Arrest Done, The Cartel Announced 10 M B/D Cut!
Naeem Aslam
Naeem AslamContributor
Markets
I cover commodities, FX, equities in developing & emerging markets.
The time for cardiac arrest has passed, OPEC+ introduced its oil supply cut. It was widely expected that the cartel would cut its oil production by 10 million B/D, and they have agreed. Saudi Arabia and Russia have settled for deep oil production cut according to delegates—the details are still pending. It is not clear if the deal is dependent on U.S. participation. The G-20 energy meeting (scheduled tomorrow) has become more interesting and we are likely to get more detail on the oil supply cut from OPEC+ and non members.

LKH fishing ikan bilis again. Morning up. Close red.

Looking at the trend, I don't think short term can hit 1.00. I'll queue to sell at 0.81 to cut loss. Hope can buy back at 0.75

Today will drop to 0.78. it will keep dropping until CNY. Then Lim will push up the price to lure ikan bilis again. Exactly like 4 years ago.

The price won't go up or limit up to RM1 in short term.

Stop posting old article pls

Something not right. I dump first. Gd luck

congrats to all the believers. Tomorrow morning 9:00am sharp will be at least 0.90 and up. Those who missed these few days who's skeptical to even buy at 0.83, i feel bad for you. But looking at the future of ekovest, buying at 0.90 isn't too late at all.

wtf why both iwcity and ekovest drop like crazy? did i miss anything?

Lol I really like this Roger. Can u turn 360 like that. Money is king.

roger3210 & Bursalord888 are actually same person. He's suffering split personality (scientific term: Schizophrenia). I suspect he was hit badly 3 years ago when Ekovest was still RM1.40-RM1.50. Really pity him.

I'm selling all my ekovest share, because of Bursaking888. Can't stand guys BS anymore.

If PH wants to make this project happen within their 5 years tenure they will have to stick with IWH-CREC. Too late and too complicated and risky to switch to another contractor. Congrats all.

BM project is either On or Not On. Since it's officially announced ON in budget 2020, it will be IWH-CREC. However ekovest will not fly in short term but it's definitely a worthy stock to hold for long term

This article first appeared in The Edge Malaysia Weekly, on May 6, 2019 - May 12, 2019.

The Bandar Malaysia site … the project is expected to be a trailblazer in urban planning. Photo by Low Yen Yeing/EdgeProp.my

-A+A
THE federal government is understood to have appointed an independent committee to help iron out certain details in the RM7.41 billion acquisition of 60% of the Bandar Malaysia project by IWH-CREC Sdn Bhd, sources familiar with the matter tell The Edge.

The five-member team is understood to be chaired by Datuk Ahmad Badri Mohd Zahir, the current secretary-general of the Ministry of Finance, and its members include Khazanah Nasional Bhd managing director Datuk Shahril Ridza Ridzuan, Permodalan Nasional Bhd president and CEO Datuk Abdul Rahman Ahmad, Employees Provident Fund CEO Tunku Alizakri Alias and Malaysia Digital Economy Corp Sdn Bhd CEO Surina Shukri.

It is understood that some of the confusion in the negotiations between the government and IWH-CREC stemmed from the Bandar Malaysia project being driven by the Ministry of Economic Affairs, which is headed by Datuk Seri Mohamed Azmin Ali, while the government’s stake in Bandar Malaysia is held by the Ministry of Finance, helmed by Lim Guan Eng.

“Instead of having members of the two ministries, the government has opted for an independent committee,” a source says. The Edge understands that the independent committee’s first meeting with IWH-CREC is slated for early this week.

IWH-CREC is a 60:40 joint venture between Iskandar Waterfront Holdings Sdn Bhd (IWH) and China’s government-controlled China Railway Engineering Corp (CREC). Businessman Tan Sri Lim Kang Hoo has a 63% stake in IWH while Johor state’s Kumpulan Prasaran Rakyat Johor Sdn Bhd controls the remaining 37%.

At the end of last month, at the Belt and Road Initiative (BRI) summit in Beijing, top Malaysian government officials inked a framework agreement with their Chinese counterparts, reviving Bandar Malaysia, a 196ha property project with a gross development value of RM140 billion.

“The signing ceremony in China a few weeks ago was a rushed affair, so there are still issues to be ironed out. Things were moving so fast that the deal had to be signed there and then,” says a government agency executive familiar with the matter.

Newsmen who covered the event say the signing of the framework agreement for Bandar Malaysia, which was abruptly terminated in May 2017, was not on the original agenda of the BRI summit but was squeezed in, considering the high value and huge impact of the project.

In a nutshell, the BRI is a plan mooted by current Chinese premier Xi Jinping in 2013 and involves improving China’s connectivity and cooperation with the world via the strengthening of infrastructure, trade and investment links between China and several other countries.

Bandar Malaysia is a prominent development as it is expected to draw major international financial institutions, multinational corporations and Fortune 500 companies, including Chinese giants Alibaba and Huawei, to locate their regional headquarters there.

Also on the cards is the construction of a people’s park and 10,000 affordable homes in Bandar Malaysia.

The Prime Minister’s Office (PMO), in a statement prior to the BRI summit in Beijing, said, “Bandar Malaysia will be a trailblazer in urban planning, being a transit-oriented development that will optimise the amount of residential, business and leisure space and contribute towards a greener environment by facilitating and incentivising the use of public transport over private vehicles.”

Bandar Malaysia’s revival comes days after that of the RM44 billion, 648km East Coast Rail Link (ECRL), which is set to connect Kuantan Port in Pahang on the east coast to Port Klang in Selangor on the west coast of the peninsula, much like a land bridge between the two ports. Other stops include Kota Baru, Mentakab, Kuala Klawang in Negri Sembilan, Bangi, Kajang, the federal administrative capital Putrajaya and Port Klang.

ECRL’s new price tag is 32.8% less than the previous figure of RM66 billion, largely because the plan to build a tunnel through the Titiwangsa mountain range was scrapped from the project.

“Like the ECRL, the Bandar Malaysia project should be viewed within the larger context of fostering and cementing long-term bilateral relations between Malaysia and China while ensuring that such projects bring maximum economic value to the country,” the PMO added in its revival of Bandar Malaysia release.

The Bandar Malaysia project was mooted by the Najib administration in 2011 and in December 2015, it sold a 60% stake to the IWH-CREC consortium for RM7.4 billion, with the agreement that the two companies take on the master developer’s role.

However, in M

Roger I feel sorry about your prediction didn't happen and reading all your pointless post makes you look pathetic in this forum. Let's see in the coming months. Monday will not limit up but I forsee at least 8-10% hike is inevitable. TP1.20 till end of the year.

If you read carefully the original post from Tun M that the govt is going to revive BM project in April this year, you will know that the project will be given to IWH-CREC. Congratulations all!

when i see Bursalord still posting bs since 2 months, i started to worry about this stock.

limit down today. BM project got stuck again.

gentlemen, start your engine

what is the formula for calculating NTA

gentlement, start your engine!

The key event will be the 500mil. They have 60 days to pay. we need to monitor the news everyday now. If paid, prepare for another limit up.

The original developers of the Bandar Malaysia project, which is a consortium comprising Iskandar Waterfront Holdings Bhd and China Railway Engineering Corp Sdn Bhd (IWH-CREC), have 60 days to pay the government the original deposit sum of RM741mil with an additional RM500mil.

I bet with you all, within this 60 days after they have paid the deposit, it will limit up again to at least 1.20

Those who traded Ekovest long enough would have known that the boss is manipulating the news la! They are trying to pull down the price and goreng again. TP 1.20 in a week.

can anyone tells me wtf is going on here? bandar malaysia project win?

lol long time never come back and now sharemaker has become bigbrother.

you guys are fools. Obviously nobody knows who's gonna be awarded for the BM project.

Fact 1: The recent news about China did to Dalian Wanda DOESN'T MEAN ANYTHING. They didn't restrict DW from investing in foreign country. They only block big banks from lending to DW.

Fact 2: Even if DW is not interested in BM project, that DOESN'T MEAN that IWCITY+CREC will get back the project! Even if the Chinese govt said only CREC is allowed to bid for the BM project, also DOESN'T mean CREC will partner with IWCITY again!

Fact 3: After the submission date of the RFP of BM Project, MOF needs at least few months to study the proposal and make decision. Earliest will be September i guess.

So all those fools here keep saying IWCity will get the project is full of shxt. Yesterday's up is obviously a 'goreng' phenomenon . My advise, buy when you think the the price is low enough and prepare to hold for at least 2-3 months. Don't be too greedy!

you all ignorant forumer who still asks about the BM are really annoying. Please, the RFP was closed yesterday. You think they immediately know if they get the deal? Normal tender process will take approximately 2-3 months for the proposal evaluation. That's the reason why IWCITY postponed the merger to september and keeps selling their property to cash in for the BM project. Wanda group also keep selling their land. do you guys think that they are teaming up with IWCITY to bid for BM? :)

too many sinkalan here and I'm not pro in share market but my instinct tells me about this share is, 1) make sure IWCITY submitted the RFP today. 2) If they have submitted, I will hold until they announce the winner of the RFP. 3) Pray hard that financial crisis won't hit ASIA before September.

I'm not sure about how you guys come out with the exact date of announcement. Too many cock talker here. As far as i know for the RFP process, the RFP issue date is 5 July and the expiry of the RFP is today. Vendors will need to submit the RFP latest by today. After that they will have tender committee to evaluate the RFP and that would probably take about 2-3 months. Thát's why IWCITY postponed the merger date because they don't know if they will get the deal. Until now no one knows who's gonna win the deal. Why panic sell now? The only bad news that we can possibly think of that will be announce today is IWCITY decided NOT TO participate the RFP. This is the only thing that i worried.

fake news to trap investor. Tender only out on 14 July. No one knows who's gonna win. It's a 50/50 chance. If they know they are gonna get it ekovest will fly also. Just beware.

Warrenton65 I wondered if the news you heard is the same as mine. I have a good friend working in ekovest and he told me something is cooking