yuk tung projek 270juta di sungai besi. Semak bursa projek patut habiis akhir tahun. Bila pandu lepas sendiri tengok bolehkah habis? Kawan kena lari cepat. Daya mesti mati
@wtham, i believed you have sold all your daya right? then why you still want to stay at this forum making so much of negative comment? i know many people become slaughter since the report out....but just tak tahan seeing you keep on mention jual jual jual
The losses is the perfect opportunity for sharks to further press down the price.This way they are able to practically slaughter the contra/speculators and those feeble minded retailers.Do not worry and if have extra cash purchase to average down.I have not sold even one share and I do not care if it goes down as I know it will never go down to below 0.30.Hold tight as it will go up again.Currently on paper I am losing but my confidence is still intact.
Price dropping trend so many days already still got contra players going in meh? LoL. I think it's really a drop due to the lousy results la. No need much help from sharks to do that.
Loss making due to so-called human error + leaked out fund-raising exercise info to Kenanga prior to announcement to Bursa? + dilution of EPS due to the possible fund raising exercise + possible losses again in Q1 of 2014 => ?????? :-(
The most imminent of the lot would be Reach Energy Bhd, the upcoming O&G exploration and production shell, which has Daya Materials Bhd as its initial investor.
Daya will be paying RM8mil for a stake in Reach Energy, headed by its director Shahul Hamid Mohd Ismail.
In July, Daya told Bursa that it will subscribe to 533,334 redeemable convertible preference shares in Reach Energy at RM4.50 each and acquire 12.44 million shares in the shell company at 45 sen each.
On the other new stricter guidelines for SPACs, it includes extending the moratorium on promoters and initial investors as well as capping the discounts these investors enjoy in their SPAC shares,
The new rules also stipulate that the initial investors of a SPAC can only enjoy a 40% discount on their shares.
@Jal贾彬得,i dont have much info about reach energy and ipo. Me too paper lost in this daya counter, but i do keep it mid to long term to see its movement.
apa IPO pula? 6 bulan lepas cakap subsea bagus. Semarang rugi kuat. cakap IPO reach energy bila IPO naik cakap market sentiment lemah. Daya cuma cakap besar(. Jual DAYA mesti betul.
Well looking into the chart now is testing the lower level seems it will remain around 0.355 - 0.360 at this moment and when testing done will up trend again now should be safe to enter if want to accumulate from now or lower the average price from b4 higher purchase
the TP will be above 45 - 55 as their revenue did grow but because of the cost overrun by many million shows a negative profit .......but this JOB is done and finish same like Muhibah before now look at the price ....sure HUAT this is definitely better than MAS lost after LOST they will make the cheapest stock soon TP 0.14
o & g has its ups and downs too! if got oil, it will shoot up but if no oil, all will be gone to drain and bankrupt straight. It all depends on how you look at it and the amount of risks exposure you may afford...
Weak 4QFY13 result due to one-off event… YoY, Daya’s 4Q13 earnings swung from profit to a loss of RM15m. Full year FY13 earning made up only 14% of consensus. This was mainly due to cost overruns at its first subsea project (Tapis EOR). As the project is almost near completion (~96% completed) and the cost overrun has already been fully reflected in Q4FY14, we view this as a one-off event.
Looking forward for SD1 and SD2…Siem Daya 1(SD1) and Siem Daya 2 (SD2) are expected to commence works with Technip Norge in Mar 13. 1QFY14 earning will remain weak given the initial mobilisation and charter costs. However, they will register maiden full contributions in 2QFY14 with deployment of 220-250 days/pa (vs. original 100-175 days).
Margin expansion for the propose acquisition… The company is working on a fund raising exercise to raise RM930m (combination of debt and equity, Ref Fig 1) to acquire 100% of SD1 and SD2 vessels. Each vessels cost around US$130-140m. The company expects saving of US$15-20k/day/vessel under an ownership model (vs. lease model). We estimate each vessel to generate RM24m PAT vs. RM6m under lease model. Management expect the corporate and acquisition to complete in 1H14.
Potential third vessel in 2H14? We understand the company is negotiating with Technip on a 3rd vessel charter. Successfully executing jobs on SD1 and SD2 will path the way for future SD3. If acquisition of SD3 in FY14 materialized, FY15 earnings could be boosted by ~30%, resulting in a drop in P/E to 10x while net gearing of circa 1.5x will remain below the company’s maximum tolerance of no more than 2x.
Not as dilutive as thought? Under the RM930m fund raising exercise, the company targets 65% from debt and 35% from equity (combination of private placement, right issue and convertible bond). We expect share base to enlarge from 1.39bn to 2.6bn after the exercise. Despite the huge dilution, average pre-tax margin for both vessels are expected to increase from 5% to 23% from lease to owned model (Ref fig 1).
Balance sheet remains comfortable… After the corporate fund raising, net gearing is expected to increase from 0.3x in FY13 to 1.1x in FY14.
Valuation
After the corporate fund raising to acquire 100% stake in both vessels, Daya is expected to trade at 25x FY14 and 13x FY15 P/E (Ref Fig 1, Scenario1). To note, we only factored one quarter of contribution under asset owned model in FY14 (as we expect the deal to complete in 2HFY14) and expect FY15 earnings to increase by 94% YoY given full year contributions from both vessel.
Source: Hong Leong Investment Bank Research - 6 Mar 2014
if daya has performed well the fund raising exercise will be in great demand. Losses are very significant. 3 q of previous profit wipes out in 1 q. Cable laying was in Malaysia,still make mistake. people are cautious of daya now. daya must prove itself this q otherwise may be undersubscribed. I think this fund raising exercise will help to prop up a price a bit,eg issuance of free warrants,etc. Need to see sweetness of the deal. Good for those thinking of purchasing daya.
Dun trust hong leong investment bank research. The CEO of the bank madam lee is the wife of DAYA managing director NATHAN THAM. 200% betul betul facts. The DAYA MD super CON man. Manipulate numbers to suit small time investors. DAYA tipu tipu kuat
Getting close to the recent private placement price of RM0.345....probably good to get out first before the next placement comes around. They need to regain investors' trust again...
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greenday
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Posted by greenday > 2014-03-05 15:24 | Report Abuse
big show always start on 4.30pm, if u want lowest price of de day, can get by 4.30pm.. 4days continue down, all they do big show on 4.30pm onwards..