Posted by johnny cash > 2016-08-30 12:21 | Report Abuse

They were actually trying to inflate their stock price at that time, few years, thinking that they might get some capital for the project, but it did not work out, the poison pen case, actually had haunted them till today

Posted by johnny cash > 2016-08-30 12:25 | Report Abuse

Once the company starts having transparentcies issues with SC, Very difficult because SC will always keep an eye on them

Posted by papaya > 2016-08-30 15:44 | Report Abuse

r.i.p......

Posted by culain99 > 2016-08-30 16:46 | Report Abuse

making loss now

Posted by Flintstones > 2016-08-30 17:34 | Report Abuse

@YiStock

Posted by YiStock > 2016-08-30 20:12 | Report Abuse

Anything i can help?

Posted by Flintstones > 2016-08-30 20:40 | Report Abuse

I enjoyed your analysis. It is quality. Would you kindly follow up with the recent developments at the company? Thanks.

Posted by charles pang kah keet > 2016-08-30 22:52 | Report Abuse

dont fast to sell, the stock price will recover on wednesday, because mudajaya is have many project in hand can cover losses

Posted by charles pang kah keet > 2016-08-30 22:52 | Report Abuse

short term price 1.03sen-1.30sen.

Posted by Limcken > 2016-08-30 23:32 | Report Abuse

power plant showing huge losses of delay . where got income to support the company? some more this month only announce project so fast can contribute profit? .. bleeding company.. 48 months for the completion date . 4 units power plants generate 70m per annual . Until now 1/2 also not even start already loss 66millions because of power plant project.

Posted by lloydlim > 2016-08-31 01:15 | Report Abuse

Doesn't look good based on TA, better wait & c 1st

Posted by Kian Kwok Lim > 2016-08-31 19:36 | Report Abuse

September is a very long month..

Posted by leelc70 > 2016-09-01 09:45 | Report Abuse

Surprise of impairment loss of investment from Philipine plant (22mil+), would like to now the wind power plant finally aborted/ not in operating?

Posted by ac777 > 2016-09-01 10:07 | Report Abuse

@YiStock, good briefing and it is correct!

Posted by 400523 > 2016-09-01 14:58 | Report Abuse

I have spent so many years analysing in my own way and have lost a fortune and I must admit I was so naive to think that projects in India was different from those in China...so many pitfalls and the graveyard for so many foreign companies.

Posted by Cheah5555 > 2016-09-01 15:29 | Report Abuse

I suppose the Company's past few years performance & poor results make a lot of holders make huge losses with the hope that it will turnaround soon especially the poor execution of Indian power plant projects. Although I have cut loss a few weeks ago, I made some losses too, as I invested & sold off this counters in 3 occasions in the past 4 years. Just for sharing of the lessons learned & to remind myself to be very careful for my future trading :- 1) Never hold the shares of the Company, If you got doubt about the future of the company, even it is cheaper, with the thinking that the worst might be over but we as the retail investor could not verified the actual status. 2) the company's top management keeps on delay or could not gives a clear/definite answer on the completion of the project, there must be something went very wrong. 3) If you feel poor morale of the company's management & staff, if you have the chance to deal with the company operations.,,,...

At the moment, we could be thinking that the worst might be over with the huge write off but anybody here could tell me that if there is any further surprise write off in the future with the power plants still without a definite date of completion & starts generate revenues ?

Good Luck to all !

Posted by lloydlim > 2016-09-01 23:31 | Report Abuse

Next target 0.80!

Posted by 400523 > 2016-09-02 09:20 | Report Abuse

Although the danger of power plants not being completed is very slim...PPA (power purchase agreements) problems with current oversupply, Coal supply agreements issue due to delay in purchase. Huge cost overruns, Interest and principal payments moratorium over with only 2 to start giving RM35m max per annum. RKM powergen India partner losses 5 times that of Mudajaya...estimated at RM280m for 2nd Q will banks throw in the spanner and stop funding?

Posted by 400523 > 2016-09-02 09:30 | Report Abuse

Have Mudajaya covered cost overuns in their lucrative Indian project? Or were they so eager to clinch the contract they were soft on that issue? The suggestion of Power Reit was maybe due to the fact that so much more funding is required.

Posted by 400523 > 2016-09-02 10:19 | Report Abuse

Someone please tell me I am wrong...as I am not an accountant

Posted by bbc99 > 2016-09-02 11:40 | Report Abuse

i always wonder did fairfax asia send someone to do some research in india before investing or they just dump the money by just look at the figures

Posted by leelc70 > 2016-09-02 16:21 | Report Abuse

holding this counter really need high level of confident and patient to wait its turnaround. If worry and no trust on it better selling off now instead of can not sleep well

Posted by 400523 > 2016-09-02 17:10 | Report Abuse

h

Posted by 400523 > 2016-09-02 17:13 | Report Abuse

Short term MTN borrowings of RM300m due within 12 mths. Refinance?

Posted by 400523 > 2016-09-02 17:15 | Report Abuse

Revolving credit of RM140m granted was there end DEC'15 now only at RM70m. Will they have to provide funds to keep their Indian counterpart afloat? It is not a public listed company in India.

Posted by 400523 > 2016-09-02 17:21 | Report Abuse

Ystock says borrowings paid down...voluntarily? Also mentioned "non-cash items" The accounting standard is there for a reason. Depreciation of investment buildings can be revaluated to get the actual value...what about power plants? What is the financial cost incurred by the power plants since now?...When I try to calculate and convert CRORES to US $ I get scared. Nobody wants to talk about borrowings and how much to repay banks...with current cash flow plus RM35m from the 2 plants operating for full year...How about the Indian partner's losses and loans to pay?

Posted by 400523 > 2016-09-02 17:31 | Report Abuse

Funny how I sound like Grace123!

Posted by 400523 > 2016-09-02 17:37 | Report Abuse

Who is the guarantor for RKM Powergen?

Posted by Penta123 > 2016-09-02 17:37 | Report Abuse

if you are not interested in this stock why talk so much kok ?

Posted by Penta123 > 2016-09-02 17:39 | Report Abuse

better sell, it will drop to 0.10 your mother

Posted by 400523 > 2016-09-02 17:44 | Report Abuse

If the 2nd Q results was shocking...wait till year end...with not much contribution from the power plants. Even with full projected RM70m per annum..I dare not figure out

Posted by 400523 > 2016-09-02 17:47 | Report Abuse

Now with hindsight...it was crazy to pump so much into a venture that can kill all they built. From a staunch supporter I became a strong critic

Posted by 400523 > 2016-09-02 17:48 | Report Abuse

Just my 10cts worth

Posted by chinaman > 2016-09-02 17:49 | Report Abuse

Maxis- Ananda; AAX-Tony; Mudajaya all having bad dreams doing business in India with high red tape and bureaucracy, inconsistent rules and regulations, over patronage system, caste system, over state power, cultural clash. RKM is in Chennai with state chief minister, J. Jayalalithaa. Will Mudajaya build up a strong rapport with her to breakup this hurdle? Not many Malaysian corp. can make money in India. bear in mind both Ananda/ Tony with Indian roots

Posted by Penta123 > 2016-09-02 17:54 | Report Abuse

it will bankrupt soon, better sell before it drop to 0.

Posted by chinaman > 2016-09-03 15:36 | Report Abuse

India also have state TREE AUTHORITY. To cut off one tree, one must get approval prior to any development. Does Malaysia have such local council regulation? Malaysia local council is completely different who like to cut off all trees instead.

CONSTITUTION :

As per the provisions of the Maharashtra Act,t No.XLIV of 1975, the Tree Authority was constituted in the year 1976, by the Corporation. The amendment enacted to the Tree Authority Act, vide Maharashtra Act, No.VII of 1996 brought changes in Chairing the Meetings of the Tree Authority. By virtue of this amendment, the Municipal Commissioner of Brihanmumbai Mahanagarpalika has to Chair the Meetings of the Tree Authority instead of the Mayor. After the General Elections, the Corporation had reconstituted the Tree Authority as per the aforesaid amendment by appointing 13 Councillor Members and 10 Nominated Members.

The Chairman, Markets and Gardens Committee is an ex-Officio Member on the Tree Authority as per the convention established under Corporation Resolution No.1047, dated the 27th November 1975.

The Tree Authority helps in regulating the felling of trees and providing for planting of adequate number of new trees through Garden Department. On or before the 31st day of October every year Tree Authority prepares budget estimate and forwarded the same to the Corporation for their final approval.

Posted by jacklintan > 2016-09-03 23:51 | Report Abuse

wah, this counter so jialat meh? By reading all your comments here, I just want to shun away from here

Posted by fankim > 2016-09-04 20:32 | Report Abuse

India Central Electricity Authority just released for July Report - http://www.cea.nic.in/reports/monthly/broadstatus/2016/broad_status-07.pdf.

Please refer to page 59 & 60. :)

Posted by 400523 > 2016-09-05 10:35 | Report Abuse

Org.Est. cost / latest cost ( Ph-I- 148750 lacs/ 263835 lacs Ph-II – 516611 lacs / 914616 lacs )
: Rs. 665361 Lacs /1037733 lakhs/ 1178451
Latest cost
: Rs. 1037733 Lacs
Exp. During 07-08
: Rs. 1270 Lacs
Exp. During 08-09
:Rs. 12311 Lacs
Exp. During 09-10
: Rs. 37363 Lacs
Exp. During 10-11
: Rs. 67641 lacs
Exp. During 11-12
: Rs. 153338 iacs
Exp. During 12-13
: Rs. 277291 lacs
Exp. During 13-14
: Rs. 255521 lacs
Exp. During 14-15
: Rs. 119057 lacs
Exp. During 15-16
: Rs 99890 lacs
Exp. During 16-17
: Rs 7172 lacs
Cumm Exp. (Up to 05/16)
: Rs.1029954 lacs

Can somebody please convert and find the total cost of the power plants so far?

Posted by 400523 > 2016-09-05 10:47 | Report Abuse

Derived from the CEA report given by fankim

Posted by chinaman > 2016-09-05 10:52 | Report Abuse

1029954 lacs= 10.299 crore= USD1.548million?

Posted by 400523 > 2016-09-05 11:01 | Report Abuse

Yes only till May 2016...should be around 7/8 billion ringgit at the end. I think overshot by a billion or 2. Moratorium on interest and principal pymts over I think for the early units 1 & 2.

Posted by 400523 > 2016-09-05 11:05 | Report Abuse

Uchpinda TPP
Unit-1(Ph-I)
Unit-2,3&4(Ph-II)
R.K.M Power, Janjgir Champa District, Chhattisgarh
U-1
360
03/12
05/12
28.02.15 (A)
28.10.15(A)
27.11.15(A)
Unit-1
Boiler: Boiler erection started on 03.09.11. Boiler drum lifted on 22.04.12. HT test conducted on 07.09.13. BLU done on 08.11.14..SBO completed on 03.01.15. Unit synchronized on 28.02.15. Consent to operate received on 17.07.15. Full Load achieved on 28.10.15. COD on 27.11.15
TG: TG erection started in 10/12. TG box up completed on 02.09.14. TG oil flushing completed 07/14. TG barring gear on 09.12.14..
Unit-2
Boiler: Boiler erection started on 12.12.11 .Boiler drum lifted on 30.04.12. HT conducted on 07.11.13. Non drainable HT done on 27.03.14. BLU done on 17.04.15. SBO completed on 25.10.15. Unit Synchronized on 07.01.16. Coal fired on 07.01.16. . Consent to operate received from State Govt. 01.01.16. Full Load achieved on 28.01.16 and COD achieved on 12.02.16.
TG: TG erection started on 16.03.14. TG boxed up in 04/2015. TG Oil Flushing Completed in 07/15. TG on barring Gear in 07/15.
Unit-3
Boiler: Boiler erection started on 12.01.12. Boiler drum lifted on 19.05.12. HT (drainable) conducted on 22.08.14. BLU expected in 09/16. SBO expected in 10/16. Syn. Expected in 11/16.
TG: TG erection started on 11.10.14. TG –LP final box up completed. HIP temporary box up completed and final box up under progress expected in 8/16.
Unit4
Boiler: Boiler erection started on 30.04.12. Boiler drum lifted on 26.01.13. HT conducted on 20.01.15. BLU expected in 01/17.SBO expected in 02/17. Syn. Expected in 4/17.
ESP: civil work completed except grade slab.
TG: TG erection started on 25.11.14. TG box-up expected in 03/17.
U-2
360
09/12
11/12
07.01.16 (A)
28.01.16(A)
12.02.16(A)
U-3
360
12/12
02/13
09/16
12/16
U-4
360
05/13
07/13
12/16
05/17

Thanks fankim...lots of info in the report.

Posted by 400523 > 2016-09-05 11:11 | Report Abuse

Now almost completed...cost at least RM6 billion...India sure needs power...banks clear winner at this stage..huge losses price only RM1...very very complicated investment

Posted by 400523 > 2016-09-05 11:17 | Report Abuse

Banks now hold the trump card

Posted by 400523 > 2016-09-05 11:40 | Report Abuse

Power oversupply at the moment...coal supply problems...vultures flying overhead

Posted by johnny cash > 2016-09-05 11:57 | Report Abuse

400523 can i have your whatsapp no please, mine is +60193629402, please add me ok, thanks

Posted by 400523 > 2016-09-05 11:58 | Report Abuse

Nobody said it was easy to make $$$

Posted by 400523 > 2016-09-05 12:03 | Report Abuse

Final analysis...plus points..near completion with about RM7 to 8 billion invested. India needs power in future. Negative points...costs overruns..long wait for income...huge payments to be made. Your guess is as good as mine.

Posted by 400523 > 2016-09-05 12:08 | Report Abuse

Johnny Cash...will do. Sorry if I bothered anybody...think I am going mad...