Next month commence toll collection as noted in the abridged prospectus.

Hopefully, good news start to roll in

Mother share only 1B shares
PA 2B, double
WF 0.5B

WF is so strong cos less shares...

Buy and hold ... If price suddenly surges, you have scripts in hand to sell if you want to..

Waste time only... By the time, the gap will be narrowed... and lost opportunities on the volatility for trading..

Take at least 2 weeks.. That's why PA always selling at a discount..

Risks

But the Warrants say that the share price could exceed 0.145+0.39= 0.53.5

What is the original price b4 EX based on yesterday's closing prices

Price b4 EX = 0.33 +2*(0.255-0.24)+0.5*0.145 =0.4325

IS THAT CRAZY?

Print money also must wait for it to dry.. lol

Must have patience

The share price kept falling and drifting downward after announcement of the RI in March 2018. The PH surprised win in the GE14 exacerbated the fall as most people misconstrued that tolls would be abolished.

Now that
1) The RI is already over. The issue price was set at rudiculously low price.
2) Tolls are not going to be abolished. PH Manifesto never promised to abolish Tolls.

Government could not simply take over highway concessions without fair compensation, example, LITRAK. It must follow the rule of law. There are 4 companies competing to take over Plus indicating strong market interests in highway concession assets. WCE which runs parallel to NSE in its Central Part is as good if not better.

Taking together, price has only one direction to move as indicated by the very strong debut of wce-wf, which closed with a 65 % premium yesterday.

Cheers!

If wf steady @17, mother reaches 30, then the premium of wf would be 87%.!!!

So cheap... Major shareholders won't release...
Can't push down either because of market forces..
Those bulls buy warrants as much smaller capital outlays to gain exposure for the next 10 years.. sooner or later rcps and mother share would catch up if the warrants keep going up..

I think most people who applied for the rights and excess shares must have disposed the warrants.

Total free float warrants with retailers 30 millions?
Total rcps free float with retailers, 120 millions?

Warrant price 16 cents
Conversion price 39 first 5 years

16+39 =55

The warrants are so bullish, depicting good future, and price is going to fly in the future

Don't think the price was pushed up to 39/40 for shareholders to subscribe b4 payment date. It was market forces. Shareholders if didn't want to subscribe, the undertakers will take cheap cheap.

Those didn't want to subscribe already sold b4 ex and suspect many sold their PR on the last trading day including many of those who bought PR cheap...

Successful Excess Shares application only 78 million, could easily be absorbed. Some may belong to big guys.

Who were the big buyers of the PR on the last trading day on 1st Nov and who were the major buyers of the mother share up to 45 cent b4 the announcement of the red results on the 19th?

Buyers came out strong last Friday @37/37.5 despite cautious sentiments prior to the listing of the rights today.

Points to ponder.

How much do you have..

PR was ramped up from 1.5 cent to 5 cent on the last trading day on huge volume of 108 millions..

How much do you have..

PR was ramped up from 1.5 cent to 5 cent on the last trading day on huge volume of 108 millions..

Ekovest's SPE 29km costs 3.75 B. Isn't it very costly!?

How do you derive the cost of rcps as 28 cent..?

Those who exercised their rights to subscribe for the rcps and the warrants, if their original cost of the mother share was rm1, their average cost after conversion would be 52 cent per wce share, their cost of the rcps would be 48 cent, discounted the warrants.

What would be the reference price for the rcps on Monday?

Option 1, conversion to the mother share is 1 rcps +4 cent into 1 mother share

Option 2, 4 rcps into 3 mother shares.

If option 1, the reference price would be 33.5 cent

If option 2, it would be 28.5 cent

Just because the rights issue price of the rcps was 24 cents and those who applied for excess got 84% allocation, people assumed that the price of rcps will tumble. If this perception is true, it would have reflected last Friday. The stock market is a forward looking discounting machine. The listing of the rights issue of rcps and warrants on Monday has already been discounted last Friday.

The reference price for the mother share on Monday is the same as the closing price on last Friday, 37.5 cent

Those who bought the mother share last Friday of course would not get additional shares as the rights issue was already over. They not necessary will suffer losses. At closing, there were more than 700K shares buying @37.5 on board.

Second chance to buy cheap on Monday

They took calculated risks and surely would made mistakes since there are risks. The risks could be mitigated and minimised if they are holding the steerings.

Generally speaking those who are more successful and wealthier are smarter people. They took calculated risks and made more wiser decisions and investments than bad ones, especially if they are captains of the ships they are sailing in.

They are out to do business to make money and not charity.

Quek is a smart and wealthy businessman who made it to among the top richest in Malaysia.

Don't you agree?

Until the game end, you don't know yet who are the winners and losers. Meanwhile, many died along the way and the winner, you know who took mwe private at cheap price?

Those who bought the PR @1.5cent, their cost of rcps is 25.5 cent.

However, many are original entitled shareholders. For most, their average costs probably are above the market price now even if they subscribed for excess shares, I think.

I would predict that the selling pressure would be well absorbed and the price would rebound in the late morning or afternoon. It is too cheap.

Tan Sri Surin is many times wealthier.. Who do you think is smarter?

Even you will receive your rcps cheap via excess application, don't simply sell cheap cheap.

Tan Sri Surin saw the value in 2013 and was willing to buy a block of 141.4 million shares @rm1.35 from Tan Sri Chan A C at a time when the WCE expressway concession was awarded but the project had yet to start.

Now the project is near 70% completion and toll collection likely to commence for the completed section 8,9,10 in December follow by Section 5 and Section 4 later...

Next Monday Morning Before Trading Start.

Monetary
Don't blame them... They are losers but still hope to buy back cheap...hope their wish come true

Bursatrader123
You make your own conclusion

Have not taken the value of the balance concessions after 19 years...

There is another 31 years concession plus 10 years extension..

It is mind boggling..

Stock: [WCEHB]: WCE HOLDINGS BHD

Nov 1, 2019 9:48 PM | Report Abuse

My 2 cents view

Plus highway highest offer rm38. 338 B

80% revenue from NSE

NSE 772 KM

WCEHB, 80% of wcesb, 193 km

So wcesb should worth
(193/772)*(0.8*RM3.8338)=RM7.667B

Total construction cost is RM6. 69B

80% FINANCING RM5. 352B

EQUITY VALUE WORTH =7.667 - 5.352=2.315B

Wcehb, 80% is worth RM 1.852 B

This has not added the Bandar Rimbayu.

PLUS has 19 years concession left.. WCE has 50 years.. (plus 10 years extension*)

Distance is shorter from Taiping to Bukit Raja via WCE, 248km and 83 km built by the govt is toll free.. flat terrain, ports to ports..165 km is tolled

Whereas via Plus, from Taiping to Bukit Raja is 265 km, full tolled.

Different people have different perspectives

newbie911 Hi uptrending...mind to knw wat ur cost?
22/11/2019 11:55 AM

Comfortably low.
I think I am among the lucky ones..

Before the RI, people sell cos don't want to fork out more money.

Now RI is over and the major shareholders couldn't get their oversubscription as original entitled shareholders applied for excess..

Be careful.. Know what the current price correspond to the price b4 the rights issue..

After the RI, assume full conversion of rcps, the equity injected by wcehb into wcesb for the construction of WCE expressway would be rm1. 08B, which is about 36 cent per share..

What is the value?

original cost b4 RI.........unit cost after RI
1.24...........................................0.60
1.10...........................................0.55
1.00...........................................0.52
0.8.............................................0.45
0.7.............................................0.42
0.61...........................................0.39
0.595 ........................................0.385
0.58...........................................0.38
0.565.........................................0.375
0.55...........................................0.37
0.535.........................................0.365
0.52.......................................... 0.36
0.505........................................ 0.355
0.49............................................0.35

WCE connects ports to ports, Penang, Lumut, Klang...

It was obvious that the price is very cheap now.

On the last trading day of the PR, it was ramped up to 5 cent from the low of 1.5 cent with volume of 108.1 million, the highest volume for the 5 days, total transacted volume of PR over the (5 days trading) period was about 300 million. The mother share also surged to 35 cent from 30 cent on the same day.

Obviously some big interests are in it. They wanted the scripts, especially PR which was available in abundance.

Don't forget that there are 4 companies scrambled to buy PLUS the concessions of which has only 19 years to go, to expire in 2038.

WCE has 60 years concession. It is shorter distance from Taiping to Bukit Raja via WCE, 248 km, 83 km of which built by the Government is toll free, ONLY need to pay 165km toll, compare to 272km, full toll, via NSE (PLUS). Not only less toll is incurred, the terrain is also flat on WCE, naturally traffic would be more, especially heavy vehicles. Currently, there are about 100K heavy vehicles plying the NSE daily.

The same big interests are eyeing on the listing of the rights issue, they want the scripts, I reckon.

The company made an unusual announcement and comment on the next early years' profitability a few days before the listing of the rights issue rcps and warrants.

How did the company make the projections as they lack data to make the conclusion.

setia2u

there is a DBT transaction @ 27.0 sen only, so ....???!!!

21/11/2019 3:19 PM


are you sure?

can't be rcps, as not yet listed. Can't be mother share otherwise sellers are insane..

Many are waiting to load up.. Haha

Those new rcps shares does not come free.

rcps convertion to mother, need to pay 4 cent per share.

original unit cost b4 RI.........unit cost after RI
1.24...........................................0.60
1.10...........................................0.55
1.00...........................................0.52
0.8.............................................0.45
0.7.............................................0.42
0.6.............................................0.39

Most still lose @current price

bursatrader123 @Uptrending.... chartwise whats your comment?
20/11/2019 7:35 PM

uptrending Down Elliott Wave should have ended at ex rights price @0.30 from a high of 1.68 b4 rights issue in early 2017, lasting about 30 months. Now is the new phase of the UP Elliott Wave in its infancy.
20/11/2019 7:34 AM

Need add 4 cent to convert rcps to the mother share

monetary Uptrending. Pls clarify. If their avg price 0.6 :

(Original price + 2*0.24) ÷ 3 = 0.6
Original price = 1.32

Why their initial price so high?
20/11/2019 6:21 PM

Your calculations should be

{original price +2*(0.24+4)}÷3 =0.6

For UFH,

their took a 10% private placement in 2013/4 @rm1.11 and subscribed for 3 for 4 rights @rm 1.08 in 2014