Posted by setia2u > 2019-10-24 07:18 | Report Abuse

time to accumulate this counter! just 34.0 sen? What a steal!!!

Posted by Tomatoman79 > 2019-10-24 07:46 | Report Abuse

read the right issue lah bro. 24 cent

Posted by setia2u > 2019-10-24 09:51 | Report Abuse

Yes, go and read carefully !!!

Posted by 7eleven > 2019-10-24 10:12 | Report Abuse

worth to enter at this price now? what is the prospect ahead?

Posted by hng33 > 2019-10-25 10:09 | Report Abuse

Bought WCE-PR at 2sen

Posted by steady31 > 2019-10-25 12:00 | Report Abuse

It was reported in the Straits Times on 24/9 the traffic that used the highway along Section 8 between 24/5 to 24/9 was 600,000 cars and assuming toll at rm2 that would be 1.2M in revenue and 3.6M annualised for the short stretch.

Posted by steady31 > 2019-10-25 12:13 | Report Abuse

Plus recorded revenue of 3.8Billion of which EBIDTA of over 2.6Billion.The bulk of it was derived from the North-South highway of 688 km.compare this with West Coast highway of 233km,which also has the added advantage of lots more local traffic as the highway is running near to many local towns.It is not far fetch to expect a revenue in excess of 400m and ebidta of 270m when the whole highway is open to traffic and collecting toll.

Posted by steady31 > 2019-10-25 12:15 | Report Abuse

Translate this to EPS of 0.08 the price for WCE on enlarged capital base of 3B would be 0.80.

Posted by minigiant > 2019-10-25 12:57 | Report Abuse

Hi Steady31, it is difficult to understand on how you derived a revenue for WCE of 400m with Edibta of 270m? If we prorata with PLUS (and indeed some stretches of the WCE will be toll free), then can't we project a WCE revenue of 1.3billion with EDIBTA of 0.88 billion.

Posted by steady31 > 2019-10-25 16:04 | Report Abuse

It is not possible to say with any certainty how much is the potential revenue .Your extrapolation may be optimistic.but mine is just over 10% of PLUS statistic which is more likely to be exceeded
when the highway is fully opened.Dont forget there is the long haul traffic to thePenang and the North and plenty of commercial vehicles heading to the ports at higher than private cars rates.All in all if WCE is able to achieve this low expectation continuosly going forward,its market price will also enjoy PE multiple expansion

Posted by hng33 > 2019-10-25 16:13 | Report Abuse

It is worth of subscribing WCE-PR at 2 sen + subscribing price 24sen = total cost 26sen.

Every 4 subscription entitle 1 FREE warrant, 10 year period

Posted by steady31 > 2019-10-25 16:25 | Report Abuse

in 10 years time,for sure the price would be higher than 1.00

Posted by steady31 > 2019-10-25 16:45 | Report Abuse

Just look at Jaks situation which was similar to the situation in WCE now.The warrant came out in the midst of very negative climate for Jaks.The warrant-WR slide to zero by the close of listing and Jaks was 0.56.Now the warrant is 0.64 and Jaks is 0.935.So anyone buying WCE mother and WCE-PR is going to laugh to the bank

Posted by hng33 > 2019-10-25 16:52 | Report Abuse

WCE-PR have will have 100% subscription rate.

Aside Major shareholder undertaking all + major shareholder also will apply excess up to 80% + RHB underwrite all balance 20% in the event retail shareholder unable to subscribe

Posted by hng33 > 2019-10-25 16:55 | Report Abuse

The WCE share have been pressing down significantly, oversold. Once share rebound back, WCE-PR will be very attractive.

Posted by minigiant > 2019-10-25 17:12 | Report Abuse

Ok - Understood Steady31. Thanks for the explanation.

Posted by setia2u > 2019-10-25 19:17 | Report Abuse

WCE was pressed down with the intention to collect PR at low price. Yesterday, someone just sold 10700 unit to make it closed at 33.0, that make the PR reference price 0.005 sen today, it was supposed to close higher. Today, due to arbitraging activities, mother share under selling pressure and heavily undervalue now, thanks to those who sold today, to me the current price is a real BIG steal. Shall recover in near term once the arbitrage activities over in few days time. Cheers.

Posted by setia2u > 2019-10-25 19:46 | Report Abuse

Haha ,,, YES, invest for another 10 years, by then a lot of companies will be offering to take over the West Coast Expressway! But I am only interest to invest for 10 months from today with 100% profits!!! Cheers.

Posted by CharlesT > 2019-10-25 20:03 | Report Abuse

100% profit within 10 months? Dreaming lah...30% to 50% possible

Posted by CharlesT > 2019-10-25 20:04 | Report Abuse

Dont forget 2B+ PA

Posted by tm9999 > 2019-10-25 21:16 | Report Abuse

Ya....current share 1bil...with new rcps 2bil
Total 3bil.
At current price 0.3++, also near Rm1bil market cap.
High dilution....how u expect price to go up?
And highway completion date non stop delay and dont forget highway need dont knw hw many years only can make profit bcz starting high maintrnance cost.

Posted by sheep > 2019-10-25 21:35 | Report Abuse

next week going below 0.30.....wakaka

Posted by shpg22 > 2019-10-25 21:41 | Report Abuse

Wait below the right issue price of 0.24. No need to rush 1

Posted by minigiant > 2019-10-25 22:29 | Report Abuse

I never come across people who tell me a 'guaranteed' stock which will earn money. You need to take calculated risk. If you have time to read the annual reports, the highway construction is progressing. I cannot guarantee that when will they complete the full project, but, for sure, they will start charging tolls and money will roll into the company.

For the first few years, it is true that the maintenance cost is high, and profit may be minimal. However, please see other highways, such as LITRAK. The profit will become booming after few years.

This is my own opinion (and buy at your own risk). I, at least, am prepared to hold WCE for 5years (till October 2024).

Posted by CharlesT > 2019-10-26 07:04 | Report Abuse

Buying at current price is a safe n good long term investment

Posted by uptrending > 2019-10-26 09:36 | Report Abuse

http://www.intellecpoint.com/2019/10/why-fundamentals-of-wce-does-not-change.html?m=1

--- Felicity

Posted by minigiant > 2019-10-26 14:00 | Report Abuse

Very good writing on WCE.

Posted by tm9999 > 2019-10-26 14:32 | Report Abuse

From 1++ to 0.3...losing over 70++ percent.

Posted by setia2u > 2019-10-26 16:45 | Report Abuse

Haha ... I like to dream that the shares I invested double up in short term, within months, BUT in reality, it actually happened, especially those with rights issue, good example is MFLOUR, JAKS, another one is the highway operator, EKOVEST !!!

Posted by hng33 > 2019-10-26 17:42 | Report Abuse

If compared to last year, WCE share price RM 1.00 and share volume 1 billion, have market value RM 1billion is deem undervalue based on potential future cash cow highway, then , today, WCE share price RM 0.31sen with market cap only RM 310m need to compensate with higher new convertible preference share at 24sen + warrant.

The collectively new share to be converted and future warrant + existing share volume are about 3 billion share. and if based on today closing price 31sen, total market value of entire WCE is still about the same if compared to last year. Therefore, despite huge dilution of new share and warrant, but for NEW investor now, it will able to enjoy same stock value if compared to old investor whose invest many year ago.

In short, the right share and warrant offer great opportunity for NEW investor or late comer to enjoy similar stock value if compared to whose invest earlier or long term investor. While acknowledge long term investor are losing time value due to fall in share price and huge dilution if opt to no subscribe right, but, now, at least new investor can have equal benefit to join those early bird to enjoy WCE upcoming part of toll collection revenue begin December 2019.

Posted by untong > 2019-10-26 18:14 | Report Abuse

Someone wants to buy PLUS 100% equity at 3bil ringgit and promise 20% toll rate reduction, with only 30years remaining concession, and KHAZANAH says they were offering a much lower price than PLUS' real value
now WCE market cap only 300+mil with 60 years concessions, am i missing something?

is PLUS highway that valuable?

https://www.thestar.com.my/business/business-news/2019/10/06/khazanah-says-not-selling-plus

Posted by minigiant > 2019-10-27 13:32 | Report Abuse

Status of completion as at 23rd-September:

https://www.hmetro.com.my/mutakhir/2019/09/499730/seksyen-9-10-lebuh-raya-wce-dibuka

Posted by thesteward > 2019-10-27 14:19 | Report Abuse

Very good analyses hng33

Posted by shareinvestor88 > 2019-10-28 10:06 | Report Abuse

Sell tp 10c

Posted by hng33 > 2019-10-28 12:38 | Report Abuse

With purchase price for WCE-PR at 2sen + pay for 24sen for each RCPS. Every 4 RCPS subscribe entitle 1 free warrant.

Based on Trinomial option pricing model, the indicative fair value of the warrant is 21sen.

In summary.
total cost to buy right for right is 2sen x 4 WCE-PR = 8sen
total subscription for RCPS is 4 x RCPS x 24sen = 96sen
total subscription to convert into NEW WCE share = 4 RCPS x 4sen
Grand total cost = 120sen

total FREE warrant 1 x fair indicative price = 21sen

Grand total NETT cost to convert into new 4 WCE share
total cost 120sen - FREE warrant 21sen = 99sen
Therefore, each NEW WCE to be convert from RCPS is 24.75sen/NEW WCE share,

Market WCE price now is 31sen, potential gain is AT LEAST 25%. The higher the WCE share recover from bottom due to right issue, the higher the potential gain above 25% return.


Remark: RCPS once listed can be at anytime convert into new WCE share by topping 4sen for each RCPS to get 1 New WCE within 2 year tenure of listing.

Posted by Lk036 > 2019-10-28 13:41 | Report Abuse

Will drop to below 24 Sen.

Posted by sheep > 2019-10-28 15:07 | Report Abuse

defintely below 0.24 ...... wakakaka

Posted by shpg22 > 2019-10-28 18:51 | Report Abuse

Only sochai will buy above 0.24

Posted by thesteward > 2019-10-28 23:01 | Report Abuse

Very good analyses hng33

Posted by CharlesT > 2019-10-29 08:30 | Report Abuse

Based on Trinomial option pricing model, the indicative fair value of the warrant is 21sen.

Good analysis? What's the ex price of Wa?

Posted by hng33 > 2019-10-29 08:45 | Report Abuse

WCE-WA have 10 year validity till 2029, and have 2 set of exercise price 39sen for first 5year, exercise price increase to 45sen after 5 year till end 10 year.

As WCE will start toll collection begin Dec 2019 for section 5, 9 and 10, therefore, WCE financial performance will getting better in future and pose exacerbate growth once remain 8 section complete and open for toll collection next 2 year, in 2021-2022.

The exponential growth of WCE will definitely serve as catalyst to propel WCE share performance much higher above warrant exercise price 39sen or 45sen. In short, WCE-WA is very valuable and leverage exposure to WCE

Posted by CharlesT > 2019-10-29 08:52 | Report Abuse

The exponential growth of WCE will definitely serve as catalyst to propel WCE share performance much higher above warrant exercise price 39sen or 45sen. In short, WCE-WA is very valuable and leverage exposure to WCE

WCE-PA likely to trade ard RM0,20+..If WA worths Rm0.21 basing on yr valuation might as well buy PA n mother..not much of leverage effect

unless WA trade at few cents

Posted by CharlesT > 2019-10-29 08:58 | Report Abuse

If Wa trades below RM0.10 then could be a good leverage play for WCE's long run

Posted by CharlesT > 2019-10-29 09:16 | Report Abuse

I dont think u will wait...

likely will sell at 0.03 for 50% gain...lol

Posted by LuckyG > 2019-10-29 10:14 | Report Abuse

3.5c still not sold yet ???

Posted by hng33 > 2019-10-29 11:17 | Report Abuse

sold partial, and keep balance to subscribe or sell at higher price later

Posted by LuckyG > 2019-10-29 11:28 | Report Abuse

hahaha i saw the transaction must be you :)

Posted by hng33 > 2019-10-29 11:48 | Report Abuse

sold balance all at 3sen

Posted by steady31 > 2019-10-29 14:54 | Report Abuse

I am surprised PLUS did not make any noise over the free toll by WCE in its newly opened stretches of S8,S9 as the longer it remains free,people will use it and avoid the North South highway stretch in those areas

Posted by setia2u > 2019-10-29 19:11 | Report Abuse

What to complaint? That's normal for new highway. Anyway collection of toll is soon to commence, December 2019.