Posted by heaven123 > 2016-12-19 21:22 | Report Abuse

Coming 10 years see nothing on the turbine start firing. So hai management.

Posted by Ehl1964 > 2016-12-19 22:23 | Report Abuse

I think India power plants very near to fire up. Tariff price is under negotiating. None of the power plants with capacity over 300MV outage for long time in india. Don't give up when you very near to achieve your target. At least Mudajaya can save it's net asset value at around RM1. 80.

Posted by Angielim9955 > 2016-12-20 01:33 | Report Abuse

Ehl1964 then EH do you think Mulpha also can get benefits from this news ?

Posted by Ehl1964 > 2016-12-20 09:23 | Report Abuse

Maybe Mulpha needs fund to invest in more profitable projects. NG and ANTO started power plants India so they might have more influence to the RKM POWERGEN.

Posted by heaven123 > 2016-12-20 09:49 | Report Abuse

My friend don't shock sendiri. This counter can't pakai that ass donkey said turbine fire in Oct now we in ending 2016.

Posted by Ehl1964 > 2016-12-20 10:08 | Report Abuse

I think the worst is over and no more kitchen sinking process.

Posted by Ehl1964 > 2016-12-20 10:15 | Report Abuse

When share is low, be greedy. When share price is high, be careful.

Posted by heaven123 > 2016-12-20 10:24 | Report Abuse

I bought at 1.00 like what you said. But xxxx kena lagi.

Posted by heaven123 > 2016-12-20 13:11 | Report Abuse

CIMB down grade from hold to reduce. That chee bai previous said the donkey worth 7.00.

Posted by heaven123 > 2016-12-20 21:16 | Report Abuse

Binatang

Posted by heaven123 > 2016-12-20 21:19 | Report Abuse

No hope both binatang still holding major shares.

Posted by johnny cash > 2016-12-20 23:08 | Report Abuse

Their Book is increasing now with some projects, but risk still lingers on when they will start making profits, with the present financial debts distress that they are facing now

Posted by johnny cash > 2016-12-21 09:05 | Report Abuse

actually by now they should announce the firing of the powerplants. but on the other hand they are much bz at the moment with the announcements of their small small projects, taking the attention of everyone elsewhere from the real truth. if this are their games, then i think their powerplant firing, is once again DELAYED

Posted by johnny cash > 2016-12-21 09:06 | Report Abuse

we have to watch closely the dance of this both clowns, anto and ning, the ex directors

Posted by 400523 > 2016-12-21 09:51 | Report Abuse

Result of CMC arbitration out soon. RM176m owed by CMC. Will help to pay RM240m MTN borrowings due in Jan'17.

Posted by 400523 > 2016-12-21 09:57 | Report Abuse

New borrowings from Hongkees just buying time and increasing the cost of completion of plants. Critical period for company. Best case scenario in my opinion...sell India Power plants at a reasonable loss (if possible). Last quarter losses huge and can only go higher...when the other 2 plants attain COD...interest cost will go higher..With all 4 plants blasting...only RM70m per annum...current losses way way above income/potential income...my 5cts worth.

Posted by 400523 > 2016-12-21 10:02 | Report Abuse

Hope I am wrong

Posted by 400523 > 2016-12-21 10:18 | Report Abuse

The company will not be able to refinance borrowings due forever...and billion ringgit contract wins are late and will contribute to cash flow at a latter stage...

Posted by 400523 > 2016-12-21 10:24 | Report Abuse

Anyway...these contracts have thin profit margins.

Posted by Ehl1964 > 2016-12-21 10:44 | Report Abuse

I like Mudajaya. I gain a lot from this counter. Hahahahaha.

Posted by johnny cash > 2016-12-21 11:29 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/12/21/mudajaya-back-in-spotlight/

Posted by 400523 > 2016-12-21 12:04 | Report Abuse

Good luck guys

Posted by Ehl1964 > 2016-12-21 12:19 | Report Abuse

Bull just starts running.

Posted by kevin5059 > 2016-12-21 13:16 | Report Abuse

Guys, please allow me to share my very own perspective on Mudajaya.

As we already aware, india power plant projects had been initiated few years back and was delayed for many times. Hence, in the quarter reports, all the money invested in Mudajaya's associated were assigned under Non-Current/Current Asset in the Financial Statement BEFORE the first two UNITs attained COD for the passed few years, and the ASSET will affected the NTA(That's why Mudajaya NTA was keep increasing for the pass few years until recent few quarters). In short, Mudajaya invested in India to build the power plants, so the plants are now become part of Mudajaya asset as stated in the financial report.

As mentioned in the recent quarter reports, after the COD, the money corresponding estimated interest costs from borrowings taken to build Units I & II, which could no longer be capitalized after COD. Hence, in the financial statement, Mudajaya has to include the depreciation of Unit 1 and Unit 2 into the account. Just imagine, if you buy a new car for your associated company and they started to used it. However, for some reason, you yet to receive the On-The-road licence for that car. Hence, you put the cost you spent on that car as your Asset. After 3 years, once you got the licence, then by law you will have to include all the depreciation of that car into your account. So, you will just include a very large portion of depreciation cost of that car for the passed 3 years into your financial statement. From the EPS, it look like a big loss, however it is NOT a cash loss, but just an asset loss. Similar to Mudajaya, they allocated the power plants investment as their Asset for the passed few years (that's why Asset keep increasing). Once they got the COD, then they will need to consider all the depreciation of the plants for the passed few years IN ONE SHORT in their quarter report (SO DO EXPECT THE SAME THING AGAIN FOR UNIT 3 and UNIT 4).

In short, for next coming quarters, there will be NO MORE HUGE depreciation from Unit 1 and Unit 2, since they should already considered that in the recent quarter. However, some small depreciation will still incurred. If we look at the latest revenue in the quarter report, Mudajaya is started to making some profit. Plus the recently won projects Solar (270m), MRT2 (558m), Lebuhraya (810m), Borneo (397m), disposing of Mayfair (52m), Pengarang (220m).... Assuming 10% profit margin for those project, Mudajaya should get roughly 226 million or 42sen per share net profit for next few years from those projects.

If divided 42sen for 3 years, each years should get 14sen per annual. And if the share price is 0.90sen, then the PE should be around 6.5. That's why the Ex-director Ng and ANTO are buying at 0.90sen. They got the first hand news.

Of course some may argue about the india project, but remember, those depreciation are not CASH loss, just depreciation, it doesn't matter how much the building depreciate, as long as it is functional, it may contribute positively to the company. Mudajaya depreciate their power plant unit it cost ZERO at the book, but still if the building is functional, then profit will come.

JUST MY 2CENTS.

Posted by kevin5059 > 2016-12-21 13:20 | Report Abuse

Anyway, Mudajya just announced another new project won for Solar Power cost (270million).

Posted by lkoky > 2016-12-21 13:33 | Report Abuse

Mudajaya says received Energy Commission's conditional award to build Perak solar power plant

Posted by Ehl1964 > 2016-12-21 14:00 | Report Abuse

Big angpow for CNY.

Posted by Ehl1964 > 2016-12-21 14:08 | Report Abuse

Mudajaya got 3 shot in the arm in this month. Next catalyst would be from India. Wait and see.

Posted by 400523 > 2016-12-21 14:54 | Report Abuse

Just browsing...found this in the RKM Powergen Pte Ltd Bloomberg site. Looks like Sep 13th 2016 not sure.

http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=23069502

R.K.M. Powergen Pvt. Ltd. Key Developments
Mudajaya Plans to Sell Its Stake In R.K.M Powergen
Sep 13 16
Mudajaya Group Berhad (KLSE:MUDAJYA) is planning to sell its stake in R.K.M. Powergen Pvt. Ltd. James Wong Tet Foh, the managing director and Chief Executive Officer said "The key is to maximise the value of the power plant, the price will be better when it is fully completed." The group's 26% stake was valued at MYR 1.1 billion by independent valuers at the end of last year. Wong estimates that when the plant is fully operational, it may fetch a book value of more than MYR 1.5 billion.

Posted by 400523 > 2016-12-21 14:55 | Report Abuse

If it can get through the financial difficulties...

Posted by johnny cash > 2016-12-21 15:49 | Report Abuse

400523,, if fully completed funny ha, why want to sell, why giving up when it is completed.. then you are right also want to clear debts

Posted by 400523 > 2016-12-21 15:55 | Report Abuse

Price rising fast...good luck and goodbye. No business confusing people here when I have no shares. Just wanted to share my thoughts...time to move on.

Posted by smartrader2020 > 2016-12-21 16:34 | Report Abuse

Recently, private companies had secured solar projects from energy commission.

Today, big boys of public listed companies - Tenaga, Mudajya and Malakoff have also officially secured the projects from the Government.

So, whats next? It seems that the award of solar project turn out to be in sequence. Just like MRT project. Gamuda secured the first for tunneling job, followed by viaduct and so on...

It will be small cap to- mid cap companies' turn to secure the projects in real soon.

PUC, Vsolar and Cypark will be among the beneficiaries. Get ready for it!

Posted by nkk53 > 2016-12-21 17:39 | Report Abuse

Can take small profit in few days time

Posted by charles pang kah keet > 2016-12-21 18:11 | Report Abuse

haha, tomorow want to touch 1.00 above. hurry to buy lah.....

Posted by charles pang kah keet > 2016-12-21 18:12 | Report Abuse

next target lorm term is 1.00-1.30sen distance.

Posted by charles pang kah keet > 2016-12-21 18:12 | Report Abuse

good to keep for invest long term.

Posted by Angielim9955 > 2016-12-21 18:22 | Report Abuse

Ehl1964 thanks

Posted by Orson Chin > 2016-12-21 20:17 | Report Abuse

Nx QA still loss....... Becareful guys...

Posted by heaven123 > 2016-12-21 21:31 | Report Abuse

Too early to be happy.

Posted by heaven123 > 2016-12-21 21:35 | Report Abuse

Long term mean hell. Nanti company left tulang baru regret. Good example is 400523.

Posted by charles pang kah keet > 2016-12-21 21:48 | Report Abuse

60years company, no easy to died.....mudajaya will wake up soon........ give the time.

Posted by charles pang kah keet > 2016-12-21 21:49 | Report Abuse

price will be value at 1.80 at two more yerars....

Posted by charles pang kah keet > 2016-12-21 21:50 | Report Abuse

now will be 1.00-1.30sen distance, hope the project will continue get from government support.

Posted by charles pang kah keet > 2016-12-21 21:51 | Report Abuse

tomorrow will touch to 1.00sen man.....

Posted by charles pang kah keet > 2016-12-21 21:52 | Report Abuse

hope the company will be recover making profit from last quarter.

Posted by HeartBreakKid > 2016-12-22 00:13 | Report Abuse

Some interesting information for reading

http://www.uppcl.org/uppcllink/documents/200420161101071PPA_RKM_Original.pdf

Posted by 400523 > 2016-12-22 08:59 | Report Abuse

Just can't mind my own business...

Pursuant to Part C of Chapter 9, Paragraph 9.04 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, we wish to announce that Mudajaya Corporation Berhad ("MCB"), a wholly-owned subsidiary of Mudajaya Group Berhad, has secured a term loan facility of USD50 million (equivalent to approximately RM223.8 million) from United Overseas Bank (Malaysia) Bhd for general corporate purposes including the redemption of Sukuk Programme.

MCB has an authorised and paid-up share capital of RM1,500,000,000/- and RM284,000,000/- respectively. The principal activity of MCB is civil engineering and building construction.



This announcement is dated 21 December 2016.

Local borrowings...foreign borrowings (Hong Kong) plus CMC RM175m arbitration payment (most likely) soon...looks like the company can pay the SUKUK due and also finish the power plant project. Then sell the power plants and pay back ASAP. Unless the Indian authorities throw the spanner in and refuse/delay COD or Mudajaya's engineers screw it up again.

Posted by 400523 > 2016-12-22 09:10 | Report Abuse

Nobody knows the Indian side of the story...74% ownership RKM Powergen Pte Ltd's (India) share of the borrowings/losses and how it is coping/refinancing...unless Mudajaya is funding entirely (unlikely because RM5 billion spent to build so far). Borrowings from Indian state govt or private banks? What about their losses and payment schedules/refinancing?? Question s to ask next AGM guys. If only someone can get the latest audited financials of RKM Powergen Pte Ltd ...things will be more transparent. Unfortunately it is a private entity not a public listed company so not easily obtainable. Another pressing question is whether Mudajaya guaranteed it's India counterpart's loans????

Now to think about it...the multi billion ringgit project is too big to fail...it must be completed...but how and by whom? And at what cost?

Posted by 400523 > 2016-12-22 09:20 | Report Abuse

Price rising...volume high...Mulpha must be regretting their quick sale...or if they might take the opportunity to sell some more...