The qtr report already factored in based on Amresearch and the price came down to 1.48. This morning already back to 1.52 with this news and holding well. Waiting volume to come in further.
Market is very unpredictable. The more you thought it will go up because of so many good news, the more the price stay sideway. But once it moves, there is no mercy for those who did not buy them earlier. DSonic is a very good example back in aug 2013.
I have feel all have been factored in so the price is stable. With the expectation The guy playing shadow game. It's related companies like Scable, CMS, etc are just on strong footing to be out maneuvered by others should SCORE continues. The projects of course in sensitive zones but we have to move on and progress. And recycled energy is a trend. So it would be mixed calls by foreign funds.
Now baca reporting by Borneo sources lah. From Borneo Post.
Supporting further power devt in Sarawak
SEB signs agreement for Package B, C of 500kV transmission backbone project worth RM619 million in total KUCHING: Sarawak Energy Bhd (SEB) yesterday inked an agreement for the 500kiloVolt (kV) backbone transmission project (Package B&C) with a joint venture between Sinohydro Corporation (M) Sdn Bhd (Sinohydro) and Trenergy Infrastructure Sdn Bhd (Trenergy).
The whole project spanning from Similajau in Bintulu to Tondong in Kuching is expected to support the future development of power and the industries in the Sarawak Corridor of Renewable Energy (SCORE) region.
SEB chief executive officer Datuk Torstein Dale Sjotveit said the transmission backbone project will provide extra voltage and power to ensure industries in the SCORE region will be catered for.
“The 500kV transmission backbone project will support the future development of SEB’s generating system and provide a secured power supply to the fast expanding SCORE customers.
“In turn, more transmission capacity is required to strengthen the current electricity supply into Kuching and southwestern Sarawak.
“The second transmission backbone project will provide extra voltage ensuring much more power (in southwestern Sarawak),” he told reporters after signing the agreement with Sinohdyro and Trenergy yesterday.
SEB has signed the Package A project earlier in December 2013 with Toshiba Transmission & Distribution System Asia Sdn Bhd (TTDA) and China Xian Electric Engineering Co Ltd.
To recap, the project and contract for Package A & Package 2 for the 500kV transmission backbone was worth RM432 million and was awarded following a lengthy and stringent tender process based on international best practices.
In the meantime, SEB said Package B of the 500kV line will be from Mapai to Lachau and Package C from Lachau to Tondong with both contracts worth a total of RM619 million. The two packages are expected to be completed by the first quarter of 2016.
SEB added the Sinohydro-Trenergy joint venture was the lowest bidder for those packages and they have a team of technical expertise and professionals to work on the projects.To note, Trenergy is a wholly-owned subsidiary of main-market listed Sarawak Cable Bhd.
Meanwhile, Sarawak Cable in a press statement said the signing of the agreement marked a significant milestones for the company.
Sarawak Cable managing director Aaron Toh, who is also Trenergy managing director, said, “We are excited and proud to be able to contribute our experience and expertise in building one of Sarawak’s most ambitious infrastructure projects to date.
“With our proven track record and quality of delivery, we are confident that works will be completed within the time and cost,” he said.
Meanwhile, Sarawak Cable said it remains fully committed to produce conductors of up to 500kV.
Furthermore, Sarawak Cable said it has established its own in-house professional project management team and experienced workforce in countering the challenges ahead, and is dedicated to continuous training of its staff to the highest level.
The company said it is looking forward to more opportunities of cooperation and partnership with Sarawak Energy for the future projects which ultimately benefit the people of Sarawak.
Among those present to sign the agreement were Torstein, Trenergy’s chairman Datuk Seri Mahmud Abu Bekir Taib, Toh, Sinohydro assistant managing director Gu Hong Liang, Sinohydro director He Ting Fu and SEB chief of corporate service Aisah Eden.
Lower dividend declared of 1.5 sen against last year.
The Board of Directors of Sarawak Cable Berhad ("SCB") wishes to announce that the Board has on 28 February 2014 recommended a first and final single-tier dividend of 1.5 sen per ordinary share of RM0.50 each, in respect of the financial year ended 31 December 2013, subject to approval by the shareholders at the forthcoming annual general meeting of SCB to be held at a later date.
The dates of entitlement and payment for the above first and final single-tier dividend will be fixed and announced at a later date.
As expected, Taib is now officially appointed. Status quo for business in Sarawak.
On the other hand, I have checked, the RM 619m 500kV project is in fact an old project awarded in November 13. Are they signing the contract just now? If that is in fact the case then Q4 has not included any profit from this project at all. Should have better results for 2014.
Last week, it was reported that Sarawak Energy has called for pre-qualification bids to build five dams in Sarawak. These are: (i) Baleh (1,200MW); (ii) Pelagus (410MW); (iii) Baram (1,200MW); (iv) Limbang 1 & 2 (200MW); and (v) Lawas (100MW).
Out of the five, Baram and Baleh are expected to be built first with a total cost of RM7bil-RM8bil. Nevertheless, we only expect any transmission package to link Baram and Baleh to come earliest in 2016.
Just to talk about potential bright future of SCable. Go SCORE! Go SCable!
Apa pun, let get Ruling party wins the Balingian first as not to upset the mega plan for Sarawak. A loud and clear sound will thrust SCORE and SCable too!
in addition, the Balingian win basically sealed the authority of pek moh over the long term... its a good time to accumulate for those belum stock up...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jenabchen123
1,219 posts
Posted by jenabchen123 > 2014-02-27 10:27 | Report Abuse
The qtr report already factored in based on Amresearch and the price came down to 1.48. This morning already back to 1.52 with this news and holding well. Waiting volume to come in further.