Posted by Cockroach Paul Lee > 2021-03-26 23:38 | Report Abuse

Ignore construction section, gKent water meter production will be double with smart water meter license by Honeywell . How many houses in Malaysia? 7.8m houses ... how many houses in USA? 128m houses. Water meter isn’t a small potato business.

Posted by eesquare > 2021-03-27 09:28 | Report Abuse

@ Cockroach Paul Lee I don't think Gkent is using Honeywell's smart meter technology. First, it's mentioned as "home-grown smart metering technology" and secondly, they look different.

https://www.youtube.com/watch?v=3Ez5fdnxRZw&t=8s

https://www.google.com/search q=elster+smart+water+meter&sxsrf=ALeKk02Va08HHepE67JzuBm5eV1RsWIEmA:1616808401641&source=lnms&tbm=isch&sa=X&ved=2ahUKEwi6h8zTqM_vAhWCyDgGHTXsBvEQ_AUoAXoECAIQAw&biw=1920&bih=937

Posted by celineloo > 2021-03-27 10:55 | Report Abuse

Mudajaya's unit, MRCB George Kent executes agreement for LRT3 work packages

Bernama
March 27, 2021 01:05 am +08

Posted by celineloo > 2021-03-27 10:56 | Report Abuse

MALAYSIA
CORPORATE

Mudajaya's unit, MRCB George Kent executes agreement for LRT3 work packages

Bernama
March 27, 2021 01:05 am +08

-A+A

KUALA LUMPUR (March 26): Mudajaya Group Bhd's wholly-owned subsidiary Mudajaya Corp Bhd (MCB) has executed an article of agreement with MRCB George Kent Sdn Bhd’s (MRCBGK) following the latter’s appointment as the turnkey contractor for the Light Rail Transit Line 3 (LRT3) project.

In a filing with Bursa Malaysia today, Mudajaya said the project includes works for the construction and completion of the LRT3 line from Bandar Utama, Petaling Jaya to Johan Setia, Klang.

“The revision of the project comprises the change of the design and scope of the LRT3 project, where a new revised contract price was agreed at RM655 million,” it said.

It also noted that the completion date for the LRT3 project is Nov 30, 2023, from the initial February 2021 dateline.

The article of agreement is pursuant to a novation agreement initiated between Mudajaya and MRCBGK on Feb 22, 2019.

It states that all of the rights, interests, benefits, obligations, duties and liabilities of urban rail developer Prasarana Malaysia Bhd under the LRT3 project shall be transferred and conveyed absolutely from Prasarana to MRCBGK.

Posted by RainT > 2021-03-29 15:22 | Report Abuse

LRT 3 is back ?

Posted by ming > 2021-03-29 19:13 | Report Abuse

G-Glove.

If announce during aug last year, the price alrdy at 2.00 lo

Posted by SHQuah > 2021-03-29 21:03 | Report Abuse

What ? Gkent also want to do Gloves ? Gloves stocks price already game over ?

Posted by pamaladu > 2021-03-29 21:38 | Report Abuse

only pay 40mil. get 624mil project 40% share in new company.

Posted by InsiderShark > 2021-03-29 21:44 | Report Abuse

@pamaladu

Looks like a good deal... even if the glove business breaks even, gkent still wins.

Posted by ChickyWaWa > 2021-03-29 21:45 | Report Abuse

Darn... I did asked whether GKENT venture into glove or not in this forum on 29/01/2021 10:43 PM, but nobody replied me that time. I should accumulate from that time... >"<

Tomorrow limit up ka?

==========

ChickyWaWa Rumors said GKENT is working with Invest Perak (and Topglove but not sure) to develop a glove industrial area at Perak SilverValley. Is this true?
29/01/2021 10:43 PM

Posted by ChickyWaWa > 2021-03-29 21:47 | Report Abuse

Never mind... I am holding 250 lots at the moment. If tomorrow price shoot up its a good news for me. ^_^

Posted by nextan > 2021-03-29 21:55 | Report Abuse

6 months ago when announcement this news maybe its will limit up ,now market are playing technology stocks.

Posted by nextan > 2021-03-29 21:56 | Report Abuse

Can up 5-10 cents also consider very good oledy lo

Posted by kyy_superinvestor > 2021-03-29 22:22 | Report Abuse

Just folloe me...tommorow limit up

Posted by nextan > 2021-03-29 22:33 | Report Abuse

If kyy enter and sapu sure limit up

Posted by ChickyWaWa > 2021-03-29 23:18 | Report Abuse

KYY enter limit up then drop back ...

Posted by ming > 2021-03-29 23:41 | Report Abuse

Glove business.. forget about it..
Aim the profit from factory construction better

Posted by InsiderShark > 2021-03-29 23:58 | Report Abuse

@ming

The profit from the construction of the factory looks good. Maybe can wait and see. If the glove business is not profitable and drags Gkent, maybe then only decides.

Posted by pamaladu > 2021-03-30 07:35 | Report Abuse

@InsiderShark

Johan disposed business using the cash to invest in glove business. GK as partner do 624mil construction and will be getting profit from construction and 40% share glove business. As long glove business not losing money, then should not hurt GK. If glove business breakeven, GK getting profit from construction only which should be able to cover the 40mil investment. If glove make some profit, GK gets extra pocket money in future. Look ok. But GK need to get the 40% share?

Posted by InsiderShark > 2021-03-30 09:23 | Report Abuse

I guess it is kind of like going into palm oil business during the peak. can a new company make money venturing into palm oil? sure, but they are late. Big boys like IOI & PPB will always dominate. I dont like this new venture but will wait and see their progress... who knows, maybe they can make a small profit. as long as dont lose money then it is ok.

Posted by RainT > 2021-03-30 09:38 | Report Abuse

when gloves ASP is on down trend

when over supply of gloves to happen soon,

now only GKENT want start venture to gloves business

and only to start manufacture at year 2022

that time ASP will be lower, supply will be higher , demand will be lower

Posted by amateurJR > 2021-03-30 09:54 | Report Abuse

Earn some chicken rice money.

Posted by amateurJR > 2021-03-30 09:54 | Report Abuse

Wait drop below 0.8 to buy back

Posted by Cockroach Paul Lee > 2021-03-30 13:17 | Report Abuse

0.8 support a bit ...queuing haha

Posted by MoneyAndHoney > 2021-03-30 15:10 | Report Abuse

George Kent shows signs of resuming up trend

https://www.theedgemarkets.com/article/george-kent-showing-signs-resuming-uptrend-says-rhb-retail-research

Posted by InsiderShark > 2021-03-30 15:56 | Report Abuse

@RainT

I am also confused, but GKent will build the factory, so that is the good thing, and only owns 40% of the glove business, which is not bad.

I think for now Glove is in a dilemma. Going forward profit will drop, asp will drop, but will they make money is anybody's guess.

One thing for sure, while building the factory + LRT3 + water meter business, this means it will continue to show good profit until 2022.

Posted by neohts > 2021-03-30 16:39 | Report Abuse

Gloves stocks today down....Gkent follow

Posted by MoneyAndHoney > 2021-03-30 20:37 | Report Abuse

George Kent entering rubber gloves business

https://www.theedgemarkets.com/article/george-kent-enter-rubber-glove-business-rm40m-investment-johan-unit

Posted by nextan > 2021-03-30 21:29 | Report Abuse

Suratkhabar lama......

Posted by eesquare > 2021-03-31 10:01 | Report Abuse

Going into glove business now is akin to going into a bull market. The risks of losses are much higher in the medium term. I have decided to keep my gkent's shares because the management is sincere in providing value for shareholders, why else would the common major shareholder of Johan & Gkent invest so much of the company's money (Their money too) into the new biz venture? If I am proven right that this is an unfruitful decision.. I am still quite confident in their metering & construction biz prospect.. HOLD for now for me.

Posted by DannyArcher > 2021-03-31 11:13 | Report Abuse

@eesquare

Glove still bull market? U sure? by the end of 2022, probably most of the western countries are fully vaccinated or almost there. Where to sell those rubber gloves? some more if I am not mistaken, they are making rubber gloves, not nitrile gloves, which is the most profitable gloves.

Do you know there are now 30 new glove companies in Malaysia? That is Malaysia alone, what about China and Thailand or Brazil?

I am willing to bet by the end of the year, 2022, when production starts, they will report losses at the end of 2023. I rather play safe than risk my money. Put in Nestle also better.

Posted by Choivo Capital > 2021-03-31 11:50 | Report Abuse

I like gkent, but i didnt like it after they said they going into gloves.

Posted by Begineer > 2021-03-31 12:19 | Report Abuse

Me too. but still worth to wait till div exp date

Posted by neohts > 2021-03-31 14:29 | Report Abuse

wrong timing doing gloves.

Posted by pamaladu > 2021-03-31 14:44 | Report Abuse

Johan need GK to get bullets from bank. So the questions:

1. Say GK pay Johan RM40mil to do the project without the 40% share, is this ok? On paper, the profit from the construction of this size should be more than enough to cover the RM40Mil advanced. So, this should be ok to shareholders.

2. Now GK pay RM40mil, do project get profit and get 40% share in glove business. Is this acceptable?

Johan has RM200mil cash from sales of business, TKH could just take his share instead putting in glove business. But he could have made a wrong decision.

Posted by Rwkl > 2021-03-31 21:22 | Report Abuse

I think what esquire meant was Gkent are the last to jump onto the gloves bandwagon.
What is a surprise to see though is the share price does not yet reflect the all round negativityrrty

Posted by pamaladu > 2021-04-01 09:36 | Report Abuse

the one jumped is Johan, GK only there to backup. if you see the arrangement, financing is actually 100% from Johan. the only concern is the glove business losing money

Posted by DannyArcher > 2021-04-01 10:01 | Report Abuse

@Rwkl

those that disagree with this glove venture are waiting for 6/4 dividend. We will only know on 6/4. if it goes up alot, majority are happy with this new venture, if it goes down alot, majority disagree. Who knows, maybe it will just go sideways.

Posted by eesquare > 2021-04-01 10:01 | Report Abuse

@pamaladu Not really. Gk will be a 40% equity partner so they will need to put in 40% of future financial backing if things go south. You can read more @ Johan's proposal document.

The total additional financial commitment of RM652.20 million required to put the
Gloves Business on-stream is to be funded through the RM100.00 million paid-up
capital in Dynacare and the balance through project financing/ bank borrowings and
internally generated funds from Dynacare's operations. If there is any shortfall in the
operating cash flow of Dynacare to fund the additional financial commitment,
shareholders will provide advances to Dynacare in the proportion of their
shareholdings.

Just assume Gkent is 40% of total ownership in this venture.

Posted by pamaladu > 2021-04-01 10:09 | Report Abuse

Johan: I give you this project RM624mil, no need tender. You give me RM40mil discount and help me with some paperworks to get bank loan.
GK: OK, no problem

Posted by SpartanXoXo > 2021-04-01 10:13 | Report Abuse

too late lah

Posted by DannyArcher > 2021-04-01 11:44 | Report Abuse

@pamaladu

And if the new glove venture make losses? GK will bear the 40% burden too. What is the future for glove at the end of 2021? I am certain in 2022 it will be oversupply. And if the glove factory make losses, GK have to fork out the 40% losses via capital injection, no free lunch.

Posted by pamaladu > 2021-04-01 11:46 | Report Abuse

@DannyArcher, yes, that's the concern

Posted by amzarb44 > 2021-04-01 13:03 | Report Abuse

Glove? What the fxxk?

Posted by AllanTingAS > 2021-04-01 21:32 | Report Abuse

I'm long term investor for GK because it give stable income. But i find how the management assess on their investment on glove manufacturing! I think you can manipulating the ROI but supply and demand cannot be cheated! I think the people who make the proposal don't understand fully the glove industry.

Posted by OldWiseMan100 > 2021-04-01 21:41 | Report Abuse

@AllanTingAS

Any Tom Dick and Harry also know 3 to 4 years down the road glove will be over supplied, which is why the stock price of TopGlove or Supermax or Harta are doing down. Honestly, I dont even know what the board is thinking. Go lah do something else... maybe go into subcon also good, anything but glove. gila lah this gkent.

Posted by Cockroach Paul Lee > 2021-04-01 22:46 | Report Abuse

Last year Tan Sri said double up water meter business... everyone said it was crazy... now we see the results is GREAT. Now is glove business and construction opportunities into glove factory, in future gKent may participate into glove factory construction projects,water treatment projects,etc. This is a win win situation. What if one day Honeywell ask gkent supply gloves to US too? Not just water meter ? Anything is possible...PGA ...let’s golf haha

Posted by DannyArcher > 2021-04-02 09:15 | Report Abuse

@Cockroach Paul Lee

To be able to supply to Honeywell, they need FDA approval. Which will take years. FDA approval is the moat for the big boys. Smaller glove companies without FDA approval can only supply to poorer countries, lower margin and profit.

Posted by Cockroach Paul Lee > 2021-04-02 22:31 | Report Abuse

Danny , if you said so, without FDA approval, gloves can supply to poorer countries... this mean top glove and hartalega future is brighter! No competitor! BUY glove stocks! Haha

Posted by DannyArcher > 2021-04-02 23:30 | Report Abuse

@Cockroach Paul Lee

Why future bright leh because got FDA? So many big boys got FDA approval, only new comers will have some difficulties or need some time to apply for it. TopGlove, Harta, 3M, Honeywell, Ansell and many more are competing in the same develop market, why you say no competitor? I dont know 3M or Honeywell source it from where or they make their own, I am not a glove expert.

Does Honeywell make their own nitrile gloves? If not, whom do they source it from? And how long does it get to have an FDA approved gloves?