Still lack of buyers. The big shareholders/players not buying up the shares even when its price is abt all time low and recent won the SG hospital big contract RM168million. Can only see big buy at lower queues.
Problem is retail investor all scared ady..won many project but price keep kena hit back low and big player just queue to buy back at low price. Need strong big buyers to push and support the price.
New contract RM48.1million secured. Price better go up fast.. sleep too long already.
BINTAI KINDEN CORPORATION BERHAD (290870-P) Subject: Bintai Kinden Corporation Berhad (“BINTAI” or “Company”) Letter of Award to Bintai Kindenko Pte Ltd _____________________________________________________________________________ The Board of Directors of BINTAI is pleased to announce that Bintai Kindenko Pte Ltd., a 69.82% subsidiary of the Company, has on 21 September 2016, accepted a Letter of Award from Tiong Seng Contractors Pte Ltd to undertake Sub-Contract Works for the Supply, Installation, Testing, Commissioning and Maintenance of ACMV (Air Conditioning and Mechanical Ventilation) and Engineered Smoke Control System Works in respect of the Proposed Erection of 2 Blocks of 10-Storey Multiple User General Industrial Factory; 3 Blocks of 9-Storey Multiple User General Industrial Factory with a Secondary Workers’ Dormitory; a Heavy Vehicle Parking Facility and Commercial Uses at Tuas Avenue 1 (Tuas Planning Area) in Singapore (“Contract”). The Contract sum is S$15,800,000.00 (Singapore Dollar Fifteen Million and Eight Hundred Thousand) or equivalent to approximately RM48,153,660 (Ringgit Malaysia Forty Eight Million One Hundred Fifty Three Thousand Six Hundred and Sixty) based on the exchange rate of S$1:00 : RM3.0477 as of todate. The Contract is a non-renewable construction contract with fixed contract period and is estimated to be completed by September 2017.
The Contract will not have any effect on the issued and paid up share capital of the Company and is not expected to have any material impact on the earnings, earnings per share, net assets per share and gearing of the Group for financial year ending 31 March 2017. However, it is expected to contribute positively towards the future earnings of BINTAI Group. Risk factors affecting the Contract include and not more than the standard and customary contract risks in Singapore. None of the Directors and/or major shareholders of BINTAI or persons connected with them have any interests, direct or indirect, in the Contract. This announcement is dated 21 September 2016
Last year May RI price drop till 0.21 but shot up back in Jun till 0.45. Later in Aug drop down till 0.195 before rose up to 0.375 in jan 2016 After that continue long drop till now 0.20.
Price try to rebound with new contracts secured but keep being pressed down back 0.20. Theres not strong big buyer pushing up price like last year.. more like collecting at price range of 0.20.. its been many months.
Bintai already secured many new projects this year but yet its price being sell down and block at rock bottom level even lower than its IPO listing price 0.31-0.35, Current price is way below its support lvl price.
Its major shareholders not doing much shares buy back and push support for the much needed rebound even when theres good +ve newsplay. The low vol transaction and sideway price movement past few months hard to attract and give confidence to retailers or potential investor to invest.Need major price reversal to gain more buyer interest.
If price stagnant/sideway for months, nobody would dare to buy. QR 3 month once if cant sustain push upwards price also not attractive if up 1-2 sen n drop back. Need active vol and price movement.
KLCI drop -12... retailers also panic sell. This bintai nothing to do with Oil, banking sectors also still price drop. No buyer support only small retailer buy & sell 2 each other.
Almost reach my level to collect again. Drop maybe due to house demand decrease. Not too sure. Haha. Anyway, I will collect again and waiting QR in this month. Good luck and enjoy. :)
From 0.375 january this year drop till Nov 0.18, > 50% drop still no yet rebound..really bad performance and bad for shareholders. Shareholders buy for price appreciation but if price keep going low n lower hard to attract buyer and give confidence to shareholders.
Jan 2016 won the project worth RM121million - concession 25 yrs but stock price didnt go up yet. Now wan accquire OPM and propose issuance new shares at issue price of 20 sen but current Bintai market share price only 0.175.
PETALING JAYA: Bintai Kinden Corp Bhd is proposing to buy Optimal Property Management Sdn Bhd (OPM) for RM15 million and diversify into the concession arrangements business in an all-share deal.
In a filing with Bursa Malaysia yesterday, the company said it entered into a conditional share sale agreement with Nusankota Development Sdn Bhd, Haryati Zaharuddin and Amirul Arifin Sopiee Md Noordin for the transaction, which will be satisfied via an issuance and allotment of 75 million new Bintai Kinden shares at an issue price of 20 sen each.
OPM is a special purpose vehicle involved principally in property management that holds a 25-year RM121 million concession to design, construct, complete, operate and maintain the entire in-campus accommodation for Kolej Teknologi Islam Melaka (KUIM). OPM had in January this year appointed Bintai Kinden as its turnkey contractor for the same project.
OPM will undertake the maintenance of all the facilities and has the right to demand, collect and retain mutually agreed charges throughout the concession period.
“The proposed acquisition will enable the company to participate and be entitled to the future recurring income streams from the concession arrangements business that is the provision of management and maintenance services to KUIM over the tenure of the concession,” Bintai Kinden said.
The purchase consideration takes into account the net liabilities of OPM, future prospects of OPM and valuation range of the concession between RM24.5 million and RM26.7 million as ascribed by Russ Ooi & Associates.
The proposed deal is expected to be completed by the first half of 2017, subject to approvals from Bursa Securities and Bintai Kinden shareholders. KAF Investment Bank Bhd is the adviser for the transaction.
Bintai Kinden: To acquire Optimal for RM15m. Bintai Kinden Corp is acquiring the entire equity in Optimal Property Management SB from Nusankota Development SB and two individuals for RM15m. The mechanical and electrical engineering services provider said the proposed acquisition was to enable the group diversify its business into concession arrangements business. Optimal is a special-purpose vehicle company principally involves in property management, which on Dec 3, 2015, was awarded a 25-year concession to design, construct, complete, operate and maintain the entire Kolej Teknologi Islam Melaka in-campus accommodation. (Bernama)
Financial qtr result showing profit. 1H net profit 0.320 million, Net asset per share As At End of Current Quarter up 0.28 compare to last preceding financial year end 0.26.
Bintai acquiring OPM via share issuance 0.20 next yr 2017 but current price still 0.175 really low and lagging far from its latest NTA of 0.28.
The Board of Directors wishes to announce that following the hearing held today on the Arbitration between Kejuruteraan Bintai Kindenko Sdn Bhd (“KBK”) (a wholly owned subsidiary of BINTAI”) and Serdang Baru Properties Sdn Bhd (“SBP”), the Court has ordered SBP to pay the following in favour of KBK:-
(a) A total sum of RM28,220,284.44 together with a simple interest rate of 5% per annum from 3 June 2008 up to 9 March 2016; and
(b) Costs for a sum of RM20,000.00. This announcement is dated 8 December 2016.
This announcement is dated 14 March 2016. ====================================================================== Description Bintai Kinden Corporation Berhad (BINTAI or Company) - Arbitration Further to the arbitration proceedings held between Kejuruteraan Bintai Kindenko Sdn Bhd (“KBK”) (a wholly owned subsidiary of BINTAI”) and Serdang Baru Properties Sdn Bhd (“SBP”), the Company wishes to announce that following the notification received from KBK’s solicitors on 11 March 2016, SBP has been ordered to pay a total sum of RM4,985,166.24 plus 5% simple interest per annum on the aforesaid payment sum in favour of KBK. =======================================================================
Bintai won RM28million++ instead of earlier Rm4.98million.
Bintai share should worth more than 0.30+ with the RM28million++ received by winning the court case. Its consider as direct profit added into next financial qtr/year end result resulting in higher EPS
For the financial year ended March 31 2015, Bintai Kinden’s net profit surged to RM6.04 million. Bintai surged 55.56% or 12.5 sen to 35 sen with 11.36 million shares done.
Receiveables from winning court case of RM28million + 8yr interest 5% pa. is abt 3x profit as financial result ended 31/3/15 of Rm9.8million.
On 28 May 2015, Bintai released its quarterly report for the 3 months ended 31 March 2015 with strong net profit of RM9.8 mil. As a result, share price saw a huge spike from approximately 25 sen to as high as 45 sen over subsequent few days. Share price has since come down and is now trading at approximately 32 sen.
Won court case with huge sum of money into company receivable yet price still not moving much. Its next quaterly result will be much higher eps and profit.
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....
viper88
1,798 posts
Posted by viper88 > 2016-09-07 13:27 | Report Abuse
No big players want to push and support hard to go up. Won big contracts but price still low and transaction low.