Posted by Buns > 2018-10-10 11:27 | Report Abuse

TLDR for you one liners.

I'm not a Gamuda supporter. This is a necessary disclaimer since most i3investor forumers can't understand how a person would take a neutral unbiased view without any money on the stock. Just reviewing facts and figures.

Trade secrets are a form of intelletual property. Unlike patents which may expire over a certain period, trade secrets are often perpetual in nature.

A very simple example of a trade secret is the recipe to coke.They company protects their recipe by shipping ingredients anonymously and factory managers are told the relative proportions but not ingredients.

It even has it's own wikipedia page : https://en.wikipedia.org/wiki/Coca-Cola_formula

I'm not comparing Gamuda to coke of course. But I'm saying trade secrets are important. It is not just shared to the government but an engineering firm as well.

I rooted for Tony but he did leave some blanks unasnwered. And yes, I have read the ENTIRE exchange between Gamuda and Tony.

i ) If Tony believed the savings would be worth 4.19 to 5.79 billion-why wasn't this sum given to Gamuda? The market is buyer and seller right?

If I go to wet market and ask price of T shirt. Aunty wants to give for 15 , I say no too much, she asks for my price-I say no thanks and walk away. Why didn't I give my figure of 10? That's what negotiation is about.

I find it hard to believe that Gamuda would walk away from just an addition 3 b in reduction-remember, they reduced is by 2.3 billion already- then have no deal at all.

UNLESS......

a) MoF did not tell them the figure they had in thier mind. Which was what Gamuda implied. No figure how to know what price you want brother?
b) The figure was grossly depressed

ii) Which brings me to b). Yes, the independent firm is not any Tom Dick company hired by MoF, but Gamuda did ask for second consultation. Why didn't they get it?

Just like if you got cyst. You don't go one doctor to check if benign or not. You go to at least 3-4.

Gamuda said the first consulting firm made the value too simplified. They requested for another consultation just like another doctor. Why weren't they given the benefit of the doubt?

That's all I want to hear.

Posted by pang72 > 2018-10-10 11:28 | Report Abuse

You can appoint foreigners to manage the company
But you can't kill local company and give the contract to foreigner

Posted by hornbill > 2018-10-10 11:28 | Report Abuse

Matter of fact Gamuda is BN crony you can see during BN ruled Selangor water issue never can be resolved because BN want to use Water issue to attack PH.

Posted by ks55 > 2018-10-10 11:29 | Report Abuse

$

By Justin Chin Jing Ho

My name is Justin Chin Jing Ho and I am (or soon to be, “was”) a Malaysian tunneller working on the KVMRT Line 2 underground project. I graduated 6 years ago with a 1st Class Master’s Degree in Civil Engineering from one of the best engineering universities in the world near the top of my class and despite receiving some lucrative job offers, I decided to drop all logic and follow my heart to come back to serve my beloved country Malaysia and participate in building this nation I call home. I chose not to be another number contributing to Malaysia’s brain drain statistic.

I will write this letter in a single pass without any editing or curation as I want the tone to be as raw as possible and to reflect my emotions and thoughts as I am lying in my bed at 4am wide awake trying to come to terms with the Government’s decision to terminate MMC Gamuda as the KVMRT Line 2 Underground Works contractor.

I cannot sleep not in fear of losing my job; but because I have witnessed and experienced too much pain since the big announcement and am having trouble processing it all. Alongside the thousands of Malaysians I have worked with building KL’s MRT lines for the past 6 years, many of us have worked in excess of 80 hours a week and over 300 days a year pouring out our hearts and souls in the name of making Malaysia better, and of course providing for our families.

On Sunday evening alone, after the news broke, I received over 30 calls and messages from my colleagues and comrades and over 30 more on Monday. All of the conversations differed from the others but the underlying messages were the same.

One of my foremen, big, strong and heavily tattooed, put on a brave face and asked “Boss, what will happen to the boys? Will they be okay? What do I tell them?” I didn’t have a good answer. All I could do was to put on a brave front and tell him that everything will be okay (but will it really?).

A single mother of 3, with 2 of her children in college, called up and asked, “What will happen to us now?” I didn’t know what to say to her.

One of my TBM operators, whom I have a very strong connection with after having carried him out of the dark depths of hell (also known as a TBM cutterhead) nearly 5 years ago when he got stuck and came close to drowning, put his daughter through medical school because of the opportunities presented by this project. Now he is wondering if he will have a job tomorrow and if he will have to leave his family to go overseas in search for work when he is now over 50 years old.

What do the three people above share in common? They all voted for you. They all voted for a new, better Malaysia; a Malaysia Baru. And today they went home, blaming themselves for voting for you because perhaps tomorrow, they will be out of work and will not be able to put food on the table for their families. This is most certainly not what they voted for.

We don’t need a third national car to build and grow world class engineers; I believe we have long missed the boat to be a world class car manufacturer. However, we have on hand another channel to do just that: the MRT lines in Kuala Lumpur. The Malaysian team working on KVMRT Line 1 and Line 2 have achieved groundbreaking stuff and received international recognition and accolades from the international tunnelling community for our good work here. The Variable Density TBM that we pioneered and use to tunnel through Kuala Lumpur’s extremely challenging geology was accorded the Technical Innovation of the Year Award. One of my dearest friends, Derek Eng, recently won the coveted Young Tunneller of the Year Award from the International Tunnelling and Underground Space Association beating out competition from all over the world. Just a month ago, we successfully trialled the world’s first self-driving TBM which tunnelled under the 14-lane Jalan Sungai Besi without any incidents. We hope that this too will win a number of awards in the near future. The engineers who worked on the AI algorithm for the self-driving TBM had an average age of 26 which was no mean feat!

All these engineering achievements and milestones were made possible because of the opportunities presented to the young and vibrant Malaysian team working on this highly complex and challenging project. It has given us room to grow, to build, to innovate, to dream. And soon, we will be robbed of all of this.

In my simple mind, I cannot comprehend the logic of how retendering of the remaining works and awarding them to a foreign contractor can bring greater value to the nation or for the taxpayers’ money once the abortive costs, idling costs, compensation, etc are taken into account and considering other factors like unemployment and capital outflow. I guess I’m not smart enough to run the country or to see the logic behind this decision; I can only contribute to building it.

So now I choose appeal not to your logic but to your humanity and to your love for the rakyat of Malaysia $

Posted by ks55 > 2018-10-10 11:29 | Report Abuse

Too bad for those employed by MMC-Gamuda JV for MRT2 tunnel project.
They are just the pawns in a bigger scenario.

This former PDP for MRT2 (and MRT1) has been sucking blood from Rakyat when sugar daddy was in power.

Converting PDP model to Turnkey Project will make the sucker more responsible, accountable and prudent in financial management.

Any reform needs sacrifice by some innocent people.
No sacrifice how to win war?

犧牲 小我
完成 大我

Don"t make Malaysia to be like Greece
Don"t make Malaysia to be like Venezuela
Don"t make Malaysia to be like Zimbabwe

All these countries need to carry money in gunny sacks to buy a piece of bread.
We must stop further deteriorating of ringgit before another financial crisis hit us due to inability to service national debt........

Posted by pengwin > 2018-10-10 11:31 | Report Abuse

London bridge is falling down, falling down, falling down....

Posted by Cindybull > 2018-10-10 11:33 | Report Abuse

saving money for the country hahahah...politic boy...saving for himself and bring you to Holland soon.

Posted by ks55 > 2018-10-10 11:33 | Report Abuse

My TP remain at 1.50 by year end.......

Posted by TrippleZ > 2018-10-10 11:34 | Report Abuse

Gamuda is a public listed company, not a charity entity. Is unfair to threaten Gamuda after contract already signed and project already 40% completed.

Posted by Cindybull > 2018-10-10 11:34 | Report Abuse

many short seller starts to cut lose..hahah

Posted by Cindybull > 2018-10-10 11:35 | Report Abuse

every thing bad will be bn every thing good will be ph 1000 years later will be the same even when malaysia gg happy?hagagah

Posted by Buns > 2018-10-10 11:36 | Report Abuse

Also I would advice Tony to refrain from his aggressive tone. Make the government an offer it can't refuse. HAHAHA! Godfather ar.

Posted by hornbill > 2018-10-10 11:36 | Report Abuse

the money is not your father money.. every single sen count if Gamuda over quote.

Posted by Cindybull > 2018-10-10 11:36 | Report Abuse

ph had offend China US and Singapore now the own country people...hahah...

Posted by Cindybull > 2018-10-10 11:37 | Report Abuse

No wonder Donald don't even want to waste time on seeing nonsense ppl

Posted by kalanlady > 2018-10-10 11:37 | Report Abuse

Yes.. keep comment ... and price keeping dropping...

Posted by SimonTrader > 2018-10-10 11:38 | Report Abuse

Don’t worry about Gamuda, I believed Gamuda possess trade secret that can compete in global scale .. we are truly proud of Gamuda and their talents .. 20,000 workforce won’t be in jeorpadise under hua mentorship

Posted by Cindybull > 2018-10-10 11:39 | Report Abuse

those curse people lose job will lose their job soon don't worry if gamuda collapse means Malaysia will collapse too..investor all leaving n no body date to do business withprata king

Posted by Cindybull > 2018-10-10 11:39 | Report Abuse

dare

Posted by whizzkid > 2018-10-10 11:39 | Report Abuse

PH is damaging the economy..not that I fancy any political parties.

Posted by angkokann > 2018-10-10 11:39 | Report Abuse

This LGE really short sighted..he opened mouth will cause some much problem..

Posted by kalanlady > 2018-10-10 11:40 | Report Abuse

good comments, but not relevant to gov projects

Posted by hellbender > 2018-10-10 11:40 | Report Abuse

die Gamuda now in open war of words with the PH govt. Why so stupid? PH just won a bitterly fought election with majority votes to overthrow a 61 years old kleptocratic govt. Threatening 20,000 job loss on PH is unfair and un-Malaysian. Good luck to all the Board of Directors. What a bunch of numbskull! The Head of Investor Relations should resign for their ill-advised decision.

Posted by PHconman > 2018-10-10 11:40 | Report Abuse

these politician only bark.They are arm twisting gamuda reduce the cost further to show the rakyat how good PH gov are

Posted by pengwin > 2018-10-10 11:40 | Report Abuse

Reached new lows as I predicted this morning....

Posted by kalanlady > 2018-10-10 11:41 | Report Abuse

yes.. good price, keeping heading south as too many pounder here n there

Posted by hellbender > 2018-10-10 11:41 | Report Abuse

I am a holder of Gamuda shares and now i also dont know what to do. Sigh... i blame all this on gamuda Board of Directors and IR Head

Posted by newrookie > 2018-10-10 11:41 | Report Abuse

War between GAMUDA & MOF.. All suffer..

Posted by Lukesharewalker > 2018-10-10 11:42 | Report Abuse

in the hindsight, if they open tenders, will there be many companies to deal with such a government.
We are more becoming an African government each day

Posted by thtgadgets12 > 2018-10-10 11:43 | Report Abuse

today reach 2.28

Posted by titus > 2018-10-10 11:43 | Report Abuse

someone short selling this stk?

Posted by hornbill > 2018-10-10 11:43 | Report Abuse

http://www.theedgemarkets.com/article/open-letter-mmcgamuda please read don't be undermined by certain quarters have interest of conflict.

Posted by titus > 2018-10-10 11:43 | Report Abuse

look crazy at the matched sell volume

Posted by hellbender > 2018-10-10 11:44 | Report Abuse

Sreejaya Menon - Group Communications Head please go and resign.

Ms. Sreejaya, aged 49, joined Gamuda
as Head of Corporate Communications
in June 2016 and is responsible for
the Group’s overall communication
strategy, corporate branding and
reputation management.
Prior to joining Gamuda, she was
Head of Corporate Affairs at the
Securities Commission, the regulator
of the Malaysian capital market.
She has over 20 years’ experience in
corporate and government relations,
corporate citizenship, media relations,
internal communications and branding
given her stints in Citibank Berhad,
American Express and Ogilvy &
Mather.
Ms. Sreejaya holds a Master of Arts
in Communication Management from
the University of South Australia,
Adelaide

Posted by zerocool7199 > 2018-10-10 11:45 | Report Abuse

Seems financial crisis is near...

Posted by Cindybull > 2018-10-10 11:45 | Report Abuse

as mentioned gamuda don't need ph n mrt they can survive and after panic and negative news it will go back to its fair value at 2.5.

Posted by Beza > 2018-10-10 11:45 | Report Abuse

Even if you get from open tender, PH can cancell it any time also. They can also excused you not giving the lowest cost.

Posted by pengwin > 2018-10-10 11:46 | Report Abuse

Nobody believe me...I already said will reach new lows since yesterday and this morning....look at the price now

Posted by Cindybull > 2018-10-10 11:46 | Report Abuse

ph and the rahyat n future malaysia at bad state as they spoil the reputation n created more anger from rahyat..good luck in next election surely out

Posted by zoizai > 2018-10-10 11:47 | Report Abuse

Insiders are their shares now ... they knew the outcome

Posted by sjwee3 > 2018-10-10 11:48 | Report Abuse

Why there are so many stubborn people unsensitive to the current situation, the reality is the project is no more relevant and need to change accordingly from time to time. Who the fx,k to care staffs' employability? Please lah.

Posted by tksw > 2018-10-10 11:49 | Report Abuse

pang72 sifu, Gamuda drop another 10 sen, told you veli risky lok, hope you are fine. >_<

Posted by qqq3 > 2018-10-10 11:49 | Report Abuse

I believe there have been a lot of siphoning of profits previously

Posted by pengwin > 2018-10-10 11:50 | Report Abuse

That's why I said yesterday morning last chance to dispose....yet still got people like Victor Yong and Cindybull keep promoting the share...now look at the price, it will continue to drop this week

Posted by zerocool7199 > 2018-10-10 11:50 | Report Abuse

Ph maybe under estimation the impact from their move..

Posted by Lukesharewalker > 2018-10-10 11:50 | Report Abuse

PH should cancel LRT2, save more

Posted by Lucas Chan > 2018-10-10 11:50 | Report Abuse

It’s unfair to gamuda, ph gov can earn money from cutting cost, but it make gamuda to lose money to recover ph gov!! What’s kind of gov treat local company to this way is illogical

Posted by tnang > 2018-10-10 11:50 | Report Abuse

i am in 228, easy easy fatt

Posted by joeshare > 2018-10-10 11:51 | Report Abuse

based on tony pua letter chances are slim gov is going to backtrack on this

Posted by pengwin > 2018-10-10 11:52 | Report Abuse

Look at the selling trend, crash past 2.30 in an instant because nobody has confidence to buy....there is no bottom and no support to the falling knife, only speculators and gamblers here