Posted by johnny cash > 2014-04-25 00:13 |

Post removed.Why?

Posted by sirkevch > 2014-04-25 07:04 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1549009 quite normal to drop after ex dividend no?

Posted by gerry188 > 2014-04-25 07:59 | Report Abuse

johnny cash - excellent and thanks for sharing the article.

I always suspected that there were big problems with the Indian IPPs based on what I know about doing business in India.

Points to note:
1. The replies are obviously from their Indian partners, looking at the language. If you read the replies, quite a number are evasive;
2. The IPP company is only an associate of Mudajaya (26%) ie it doesn't qualify for subsidiary reporting and inclusion in Mudajaya's accounts;
3. The real cruncher is the disclosure that Mudajaya paid for 74% of RKM Powergen but only gets 26% equity in return - sounds extremely fishy to me!
4. The Power Purchase Agreement is a long term fixed price contract and yet the Management claims that any increase in fuel price would be compensated by the Indian Govt.????
5. The element of fraud in the captive coal allocation has not been addressed at all by the Management;
6. If fuel price increase is compensated, then why bother with the captive coal allocation??!! On top of that, why the element of fraud as per point 5 above.

These are the only issues being raised at the moment and the Management is doing a very poor job of answering them.

Looks like we will have to wait for the real bombshell to be disclosed before the stampede starts.

Posted by gerry188 > 2014-04-25 08:01 | Report Abuse

sirkevch - May be so, but let's track the share price over the next few days.

And with a forecast EPS of 15sen for 2014, are you expecting another 20sen dividend next year?

Posted by gerry188 > 2014-04-25 08:07 | Report Abuse

sirkevch - And, by the way, the share price has been dropping since 15 April 2014 with directors/ex-director selling before the ex-dividend date of 23 April 2014.

Posted by AhMoi > 2014-04-25 08:16 | Report Abuse

admittedly i am a bit shaken by the price dropping suddenly, but my offer to buy over all of mr koon's at 1.50 is still on. ; )

Posted by gerry188 > 2014-04-25 08:22 | Report Abuse

Don't worry AhMoi - just keep waiting for the "catalysts" that the analysts are talking about. Who knows, when the stampede starts, you could buy from the market at a huge "discount" from the current price.

Posted by AhMoi > 2014-04-25 08:23 | Report Abuse

will there be a stampede? I think not, as mudajaya free float can't be that big, and there are a lot of mudajaya long time shareholders of 2 to 3 years who have NOT seen mudajaya's prospect to be as bright as now. these people have seen real shits before, what is this small delay.

Posted by gerry188 > 2014-04-25 08:28 | Report Abuse

Like I said earlier, worry if Tabung Haji decides to sell.

Posted by gerry188 > 2014-04-25 08:36 | Report Abuse

Depleting order book (no brainer, even the research articles say the same)
No new projects on the horizon (see all the mis-information in the newspapers on the Kidex)
Possible project losses (wait for the quarterly reporting)
Disclosed problems in Indian IPP (see the Malay Mail article)
Undisclosed problems in Indian IPP (may not see the light of day)
Fishy over-payment by 2.8 times for RKM Powergen stake of 26% (which doesn't even qualify for subsidiary reporting)
Selling by directors and ex-director (they just want to change cars and go on holidays)
Selling by directors/ex-director before latest ex-dividend date


I suppose all the above are considered bright prospects.

Posted by gerry188 > 2014-04-25 08:39 | Report Abuse

And yes, possible fraud in the captive coal production blocks in India.

As I read in the papers, even the IJM COO (India) had to lari kuat when fraud investigations started on their land purchases and property development tehre.

Posted by gerry188 > 2014-04-25 08:55 | Report Abuse

johnny cash - A lot of the selling started after the Malay Mail report dated 9 April. Perhaps the game is up??

Posted by sosfinance > 2014-04-25 10:11 | Report Abuse

The major concern about any counter on Bursa is FRAUD/MISAPPROPRIATION. Once investors lose confident, it takes many years to recover. Do we not know most of the negatives in Jan 2014? Wouldn't the price would have discounted all these negatives?

Posted by gerry188 > 2014-04-25 10:23 | Report Abuse

sosfinance - I certainly did not know about the IPP captive coal allocation fraud allegations in January 2014 until johnny cash highlighted it with the Malay Mail report dated 9th April 2014. Did you?

Most of the readers here aren't even aware of the other negatives which were only highlighted recently in the RHB report. In fact, most still think that the ex-director sold shares to change cars/go on holidays, did not even know that one of the current directors is related to him and also think that the Kidex contract will be awarded very soon to Mudajaya when the tender hasn't even closed.

I doubt if many understand the implications of the ongoing problems with the RKM Powergen IPP project or the serious over-payment by 2.8 times for just a 26% stake.

Posted by gerry188 > 2014-04-25 10:57 | Report Abuse

By the way, ex-director's selling this year started from March 2014 while directors' selling started in April 2014.

So, sosfinance, you think the price would have discounted all the negatives because most of you knew about the negatives in January 2014? How did you know about the negatives when the Malay Mail report is dated 9 April while the RHB re-rating report is dated 24 April?

As per Bursa announcement, share buyback again yesterday to support the price (?). If you ask our famous stockraider, he will probably say that the share buyback is to support the share price so that insiders can sell.

Posted by gerry188 > 2014-04-25 11:12 | Report Abuse

Share buyback is also good news for retailers - can also sell at the same time, eh?!!

Posted by gerry188 > 2014-04-25 11:21 | Report Abuse

The share price is dropping again today even after the share buyback yesterday. I would think that the Malay Mai report is starting to make an impact.

If you see more insider selling, then you better re-consider your investment decisions in this counter.

Posted by dingding > 2014-04-25 11:30 | Report Abuse

can Mr.Koon tells us something? I still trust on him..

Posted by sunztzhe > 2014-04-25 11:39 | Report Abuse

It was reported in Business times article dated March 3 2014 that "Wong said the first unit would be commissioned by the third quarter of this year, and the other three units to be commissioned in stages soon after". RHB report on 24/4/2014 merely confirmed what was said by Mr Wong to Business Times on March 3 2014. Can this info be a new negative as Business Times had already reported it on March 3 2014?

Posted by AhMoi > 2014-04-25 11:50 | Report Abuse

ya, that is what I have been saying....

Posted by AhMoi > 2014-04-25 11:54 | Report Abuse

wait and see if there is a stampede today.

so far, almost half time, 13,000+ lots done, down 1.5%, Buy% 71% is looking more like a walk in the park and collecting on weakness.

Buy% 71% doesn't really show a loss of confidence, is it?

Posted by gerry188 > 2014-04-25 11:55 | Report Abuse

dingding - I am just recounting here the information from published articles and from what I hear (in the construction industry).

Uncle Koon can certainly be trusted as he is really a sincere and helpful guy but if he can only tell you that the ex-director told him that the shares were sold so that the ex-director can change cars and go on holidays, don't you think that any information that he can relay may be pretty limited.

After all, his protege, the ex-director/ED, no longer runs the company. And you can be very sure that the ex-director/ED will continue disposing of his shares (some shares already transferred so that such selling need not be reported??)

Posted by gerry188 > 2014-04-25 11:58 | Report Abuse

sunztzhe: Mudajaya only owns 26% of RMK Powergen. Check with your accountant friends on what that means for Mudajaya accounts reporting.

Posted by gerry188 > 2014-04-25 11:58 | Report Abuse

AhMoi - don't be surprised if the "buying" is part of the company share buyback

Posted by AhMoi > 2014-04-25 12:07 | Report Abuse

people would not dare or have the heart to simply tell a rosy picture to mislead mr koon kua?? yes or not??

share buy back is ok kua?? if insiders selling can tell later isn't it??

Posted by gerry188 > 2014-04-25 12:15 | Report Abuse

AhMoi: Uncle Koon, you can trust. Others not so sure!! Whether others tell him the truth or not, it is for him to judge.

Share buyback is to support share price where selling is apparent - it may also be used to support the price while insiders sell.

Look at Bursa announcements over the next two weeks to see news of share buybacks or insider seliing. Where shares have been transferred, announcements need not be made when the shares are sold by the transferee.

Good luck to all of you, really!!!

Posted by AhMoi > 2014-04-25 12:17 | Report Abuse

Mudajaya only owns 26% of RMK Powergen could be a good thing you know, cos that means indian owner vs indian government, so cant be that high handed kua?

Posted by AhMoi > 2014-04-25 12:18 | Report Abuse

in any case, worst comes to worst, sell la the 26%, bring back the money to do local projects.

Posted by gerry188 > 2014-04-25 12:20 | Report Abuse

The company paid for 74% of the equity but only got 26%. Who is going to pay them the same price so that they can exit??

Posted by AhMoi > 2014-04-25 12:25 | Report Abuse

mr koon mr koon say something!!

Posted by firestar23 > 2014-04-25 12:28 | Report Abuse

india power plant keep delay. testing investors patient

Posted by wonder > 2014-04-25 12:29 | Report Abuse

Dont get affected by the sentiment easily guys, everything are still intact. I personally believe that its growth potential is quite big both locally and the Indian power generation business.

Posted by AhMoi > 2014-04-25 12:31 | Report Abuse

mr koon mr koon say something!!

or your reputation will be more or less drag thru the mud....

a lot more if mudajaya dropped to less than 2.50...

Posted by smallfish > 2014-04-25 12:40 | Report Abuse

Big boys selling.

Posted by benson911 > 2014-04-25 12:41 | Report Abuse

Some funds start to sell Mudaya alr......RM2.5 is pretty soon~

Posted by johnny cash > 2014-04-25 14:05 | Report Abuse

WHERE is Mr Koon?? ANY ideas guys?? Can somebody please search him

Posted by Reno Wong > 2014-04-25 14:09 | Report Abuse

Well i bought based on mr koon recommendation but later sold it 2 weeks ago as i found tat none of mr koon recommendation proven solid in the past. Rsawit net profit slides to hell, jtiasa with insane PE...thou so far no paper loss to these stocks yet but still not a good recommendation...its not that he is tricking us but the fundamental is not really so promising and the only reason i bought this share is no longer valid judging from his past recommendation...but i still hope this mudatidur can soar and b good profile of mr koon so tat i will consider his future advice again

Posted by gerry188 > 2014-04-25 14:30 | Report Abuse

AhMoi: Why are you blaming Uncle Koon? Do your own research as it is your own money - he also invested in this counter with his own money.

Keep in mind that the Malay Mail report dated 9th April has a very negative impact as the issues raised are quite valid while the lame and evasive replies from the company's Management only raises even more questions. Worse, there is the matter of fraud allegations raised by the Indian Government itself. None of these issues are caused by Uncle Koon, ok!!

Posted by uchitech008 > 2014-04-25 14:31 | Report Abuse

Yes, mr koon, your advise is needed. Plz say something

Posted by AhMoi > 2014-04-25 14:35 | Report Abuse

gerry i am not blaming mr koon, I am just asking him to voice up to defend or at the least clarify his mudajaya as you are bashing it left right center.

fyi, you hurt mudajaya you hurt the man.

Posted by gerry188 > 2014-04-25 14:36 | Report Abuse

The counter is still falling - now only 2.60, down 7sen on low volume. Yes smallfish and benson911, looks like the big boys have started selling.

Should selling volume escalate, then AhMoi can take over the company on the cheap.

Posted by cashonhand > 2014-04-25 14:40 | Report Abuse

pls drop more....i wana cheap sale

Posted by gerry188 > 2014-04-25 14:43 | Report Abuse

AhMoi: I am only stating the facts so that most of you will understand the problems faced by the company. I certainly did not write the Malay Mail report or the RHB re-rating report.

Neither have I accused Uncle Koon of any impropriety.

It is obvious that most of you are not selling but holding on tight. Then, can you guess who is selling? As smallfish and benson911 stated, the big boys!! And possibly the ex-director.

Keep in mind that the issues raised in the Malay Mail report are very serious and institutional investors will not take kindly to such "developments".

Posted by AhMoi > 2014-04-25 14:43 | Report Abuse

with your wild fraud, mismanagement, mis-apportionment, malfeasance, rape, sodomy what not etc etc wild allegations here.. wont be long mr koon will have to hand over his to me.. tq tq gerry you are keeping my dream alive.. haha

Posted by gerry188 > 2014-04-25 14:47 | Report Abuse

AhMoi: You seem to have lost it?????!!!

Posted by AhMoi > 2014-04-25 14:50 | Report Abuse

no, if future project wins are just speculations as you say, then whatever negatives you have thrown at mudajaya is just wild allegations la

Posted by gerry188 > 2014-04-25 14:52 | Report Abuse

AhMoi: You certainly have lost it!!! The negatives are all in the RHB re-rating report and the Malay Mail report.

Posted by smallfish > 2014-04-25 14:54 | Report Abuse

All shareholders lets come and vote to have the company liquidated. Then can get back more than RM3 if can sell the assets and contracts away.

Posted by uchitech008 > 2014-04-25 14:54 | Report Abuse

"When You Believe"


Many nights we've prayed
With no proof anyone could hear
In our hearts, a hopeful song
We barely understood

Now we are not afraid
Although we know there's much to fear
We were moving mountains long
Before we knew we could, oh yes

[1] - There can be miracles when you believe
Though hope is frail, it's hard to kill
Who knows what miracles you can achieve
When you believe, somehow you will
You will when you believe

Oh yeah, in this time of fear
When prayer so often proves in vain
Hope seems like the summer birds
Too swiftly flown away
Yet now I'm standing here
My heart so full I can't explain
Seeking faith and speaking words
I never thought I'll say

[Repeat 1]

They don't always happen when you ask
And it's easy to give in to your fears
But when you're blinded by your pain
Can't see the way, get through the rain
A small but still, resilient voice
Says hope is very near, oh

[Repeat 1]

You will when you
You will when you believe
Just believe
I believe, I believe
Just believe
You will when you believe

Posted by AhMoi > 2014-04-25 14:55 | Report Abuse

gerry, yes, there are some therein, but you have came out with lots more.