From Rav links, it says JCY got analysts briefing.... but no research house really cover this company...

Fly up high~~

See you at RM 6.00....
RM 12 and 1-1 bonus issue become RM 6... =)

这股绝对不会错！

GO GO GO GO GO~~~ 9.30 pls come fast...

Good news, but the contract value is actually quite small..

I do agree sell 1st (if possible), dun take risk as many unknown....
There is no clear indication on the production affected. If a 6 hours power outtage can caused so much trouble on Mukah Plant, I'm afraid the fire incident on Samalaju Plant will not be "unharmful"

@Mordecai , how u know is small fire & didn't affect production? Insider source?

Tiamzz

@simonc, dun think Pmetal will have tarrif reduction on the power since their prices is cheapest in Sarawak/Malaysia and they have signed 21/25 yrs contract. 0.105 sen/kWh.

Alumium Price on 7/5/15:


1,883.00 USD -43.50 USD -2.26 %

WC chionggggggggggggggggggggggggg

The discount gap between Mitra-WC & Mitra is expanding

Mitra: RM 1.67
Mitra-WC: RM 0.67。

If Buy Mitra-WC + RM 0.90 (Exercise) = RM1.57
No risk gain will be (0.67+0.9)/1.67 = 9.4%

Gearing, Net debt, Current-borrowings increasing rapidly...
This is why Airasia sold off 25% stake of Airasia Expedia.

Also, QZ8501 has not yet fully reflected in the quarter report since the incident happened at end of December 2014. Also, Airasia Indo's losses will not directly reflect in the report also as they will just treat "NO profit" instead of losses due to accounting gimmicks.

Airasia Indo 里 49% 的 stake = unrealised loss of RM 334.4mil.
Airasia Philipines = unrealised loss of RM 102mil.

Among the 270million of profit (taking off forex), there is a one off gain due to disposal of Airasia Japan Stake of 145mil

http://investalks.com/forum/forum.php?mod=redirect&goto=findpost&ptid=1537&pid=3535907&fromuid=17850

ANG PAW is coming!

Tomorrow is the day out financial report....
Looking forward the ANG PAW..

Economic is a huge cycle.

When MYR become too weak, think about all our imported goods raising by 20-30% due to weak currency. What will happen? People's purchasing power is decreasing hence discourage spending.

Also, Inari's debt also in USD. And alot of company also borrowing money in USD. If USD become too strong in a sudden, how they goin to pay debt? Cannot pay debt = bankrupt = jobless = poor economic?

Last but not least, 1997 has taught us that Currency can hurt a country's economic. FULL STOP.

http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2014/12/19/3-reasons-a-strong-us-dollar-can-hurt-the-economy

I have to agree that if USD is too strong and other currency all weak, this will be another issue that cause crisis. Especially when RM drop till 3.8-4.0
In a crisis, even you deemed that Inari as an exporter who earn USD should be beneficial, but market doesn't work like that.

Think about it, if USD too strong, the price for an Iphone jump from 2.5k to 3.2k, will their sales still as good as that? When USD is too strong, will US company export oriented company still able to sustain their business / workforce?

Whole economic will turn down, all investors will change their mindset. You won't be surprise if Inari drop till P/E 7 when market is crashed.

Refer to my post on the calculation of ex-price..

http://www.investalks.com/forum/forum.php?mod=redirect&goto=findpost&ptid=8362&pid=3497526&fromuid=17850

@rishi, it has been long announced that the warrant WB exercise price will be RM2.00, please find it at Bursa

For holding WA, it should be getting free 6.23 WA, NOT WB.
Bursa announcement written: " on the basis of 6.273 additional Warrants 2013/2018 for every Warrant 2013/2018 held. (2013/2018 warrant = WA?)

Impossible for Dato Lee to sell off his company lor...
Especially @ RM 3.80 such low price.

Based on RHB RESEARCH - Date: 03/03/2014
"Daya Materials - FY13 Dragged Down By One-Off Event"


Making amends by 2Q14. 1Q14 will not see significant improvements from 4Q13, but we expect the situation to turnaround by 2Q14. Both DAYA’s vessels – Siam Daya 1 (SD1) and Siem Daya 2 (SD2) – have been deployed to the North Sea and will contribute throughout the entire 2Q14. This has been taken into account in our FY14/15 forecasts. We understand from management that it is also in talks with Technip Norge for the charter of a third similar vessel.

Most people wanted to sell their shares after reading the articles, especially those in i3investor.

I think alot of people were upset by 管有缘's misleading "insider information" that 1st plant will be fired at the end of July and all 4 units will be fired on end of the year.

As a true investor, (although we will still be upset) we shouldn't keep on cursing/attacking someone when our "insider information" goes wrong/missed target. In this market, even the CEOs/MDs (either Mudajaya or other listed company) has been tricking/giving wrong information to us (intentionally or un-intentionally) everyday. We should also be responsible with our own act.
For me, able to firing all the plants by end of the year is a "bonus" for me, which i know is hardly to be achieved and should not be my ONLY judgement of buying/selling/holding the company stock.

Now, ask yourself, should you AGAIN trust what is told by the management team of Mudajaya? (Note: They gave wrong information to us previously).....

"Wong said the first unit would be commissioned by the third quarter of this year, and the other three units to be commissioned in stages soon after." http://www.thestar.com.my/Business/Business-News/2014/03/03/Construction-outfit-tipped-to-be-prime-beneficiary-from-RM11bil-power-plant-job/ [3 March 2014]

"We expect contributions from our associate to commence this year although it may not be significant. We will see the [bigger] impact in the second half of 2015 as all four units start contributing to the group," group managing director and chief executive Anto Joseph told The Edge Financial Daily last week.
http://www.theedgemalaysia.com/business-news/295624-mudajaya-to-earn-up-to-rm80m-a-year-from-india.html [23 June 2014]




It is undeniable that the company is not in the good shape currently, especially the keep delaying of India Power Plant (and it might keep on delaying and delaying, no one can give 100% gurantee that when will this issue to be resolved). As Mudajaya is only 26% of the JV inside the project & the project is in India, Mudajaya basically has no/not much influence in the firing date of the power plant. Mudajaya are same as us, they can only get their partners to report on the status and tell us what they were told. This is the FACT that must be clear to every investor.


We should also ask ourselves, is the India Power Plant is the ONLY reason for us to make our buy/hold/sell call?
How's bout the construction works? The property development? The solar farm in Malaysia and other renewable power plant in Indonesia, Philiphines? The recent acquisition?

The ultimate question for you to make your decision in Mudajaya :-
DO YOU STILL BELIEVE IN THE MANAGEMENT TEAM THAT THEY ARE ABLE TO GENERATE PROFIT AND BRING THE COMPANY TO A HIGHER LEVEL?



**Last but not least, I would like to share another experience.**

Last year, I was feeling excited with of the company Pintaras Jaya's MD's commentary/interview/news (a piling company). He mentioned that they were eyeing 300mil of construction job, which is about 50% improvement of their existing orderbook. And he added, the target should be able to achieve in 3 months time.

My eye grows and I jumped into the stock, where the stock price was at the peak. After 3-4 months, they were not only getting NONE orderbook, the orderbook is actually keep on shrinking (due to billing of the progress and the duration of piling works are relatively much shorter (9-15 mths) compared to road/MRT/high rise building construction job (3-5 years)). Share price was declining and I was very upset.

My friends asked my opinion on the stock (as they read on the newspaper that the company has huge net cash on hand). I told them, "it is true that the company has huge pile of cash, but, I have been holland-ed by the MD's. He said got 300mil of construction job but still NONE till now. You can bet on it, but you must understand the danger, I have been trapped so bo pian. You better think carefully and should realise the WORST CASE SCENARIO if MD really holland ppl."

After 6-7 months of upset and poor peformance of the share price, the company announced two big project in a go and the share price was sitting on rocket.

I called Mudajaya Investor Relation on 30th July 2014 2pm++,
I have spent about 16 mins speaking with their IR, Mr. Benjamin.

I asked about the status of few projects, and these are the answers I got (I couldn't confirm all the information given to me are correct, but everything I wrote here are exactly what he meant):

1) Regarding the India Power Plant, their latest revised date for firing the 1st Power Plant is by end of 3rd Quarter (end of September). If 1st plant launched successfully, other remaining will start launching 1 by 1 (each takes 1 quarter).

**This is not a good sign **

2) Mudajaya is the "technical support" in civil for the power plant 3B that has been awarded to 1MDB - Mitsui Joint Venture. However, the size of the project has not been revealed and still undergo "tendering"/government's approval.

(This project has high chance and might be announce "soon", depending on 1MDB & Government.)

3) <When I ask why there were no news with the launching of property? The CEO has mentioned that there were be few property development in 1H14 previously, including the joint venture with Mulpha.>

He said that the Joint Venture with Mulpha is still going on, Mulpha has bought the land. However, they might "wait and see" the market. The launching might be after GST...

<I responded that I thought people tend to buy before GST? Why wait after GST?>

He said that the property market is quite quiet now...

(I was totally speechless when heard this =.='')

4) When I asked about the 0 orderbook;
He said that he agreed that Mudajaya has 0 orderbook for quite a period of time. This is because the company strategy is rather not to get the job if the job has low profit margin/loss, as it is a waste of manpower & resources. He gave example of BinaPuri only getting 1% of profit margin. He said that Mudajaya has high profit margin among construction company. He also explained that Mudajaya can easily win several projects, for example, UiTM (Couldn't remember the name, I know is a University/College) but they chose not to tender the project as it was not profitable.

5) He further explained that the company is not sitting duck/ doing nothing while there was 0 orderbook. The CEO has been aggressively venturing into renewable energy in Indonesia/ Philippines to create recurring income.


To sum up, Mudajaya will still having tough time in the next 6 months...

**I own Mudajaya share, 然而我们必须认清 Mudajaya在接下来的半年,profit 肯定持续走下坡。当我们期望未来将会越来越好的当儿，我们同时也必须做好最坏的准备(尤其是心里准备）。。**

@Livestrong, a really hardworking post...
I also own Daya,

However, may I ask on your statement you wrote:

"We would never know what Mazlin is up to, until he took the next job, well speculated to be in Reach Energy, which Daya also has a stake in it. Whatever businesses this company get, Daya would get 7% of the profit. "

How can Daya take 7% of the profit? I think Daya has only 1.74% stake on Reach Energy.
And it will take months and years for REACH to be profitable.

I believe the selling down will still continue or sideway at 0.28 for few weeks..

Hopefully the financial result for 2nd quarter is impressive..