Posted by yizzy > 2020-06-25 23:30 | Report Abuse

this also call up?

Posted by laychee > 2020-07-01 20:13 | Report Abuse

Finally MACC reopens file to investigate Penang sea tunnel project possible bribery case as expected.

Posted by laychee > 2020-07-01 20:29 | Report Abuse

No one knows whether this company is affected but there will be investigations as the file has never been closed according to MACC.

July 1st 2020



GEORGE TOWN: The controversial RM6.3bil Penang undersea tunnel project is again being probed by the anti-graft authority following fresh leads.

More state officials are expected to be called up by the Malaysian Anti-Corruption Commission (MACC), said highly-placed sources in the commission.

“As we have new leads in the case, we are resuming investigations.

“What I can say is that investigators are now in the midst of finalising the case,” said a source when contacted by The Star.

MACC also confirmed the arrest of former Penang Port Commission (PPC) chairman Jeffery Chew in connection with the case.

“We will be calling up more witnesses from the state government including those who attended the exco meetings,” the sources said, adding that the MACC had never closed its probe on the Penang undersea tunnel project.

Chew, who was arrested when he turned up to give a statement at the state MACC headquarters here at 2pm yesterday, will be remanded today.

Before he became PPC chairman in 2018, Chew, 52, was the special assistant to former chief minister Lim Guan Eng in charge of manufacturing, industries and investments.

Meanwhile, three MACC teams conducted raids at several companies in connection with the undersea tunnel project in the past few days.

It is understood that the operation also involved the police and the Inland Revenue Board (LHDN).

The teams are believed to have been in Penang for the past two weeks to conduct the investigations, according to the sources.

About two weeks ago in Kuala Lumpur, the MACC hauled up a senior executive of the company involved in the undersea tunnel project for questioning.

In May, the MACC confirmed opening six investigation papers on the Penang undersea tunnel project.

According to the anti-graft agency, the first investigation paper was opened in July 2017 while five more were launched in January last year.

It said a total of five investigation papers were completed and referred to the Attorney General’s Chambers.

The MACC said three investigation papers were returned to the MACC for further investigation.

In 2018, the MACC remanded Ewein Bhd managing director Datuk Ewe Swee Kheng and Consortium Zenith Construction Sdn Bhd senior executive director Datuk Zarul Ahmad Mohd Zulkifli over their involvement in the undersea tunnel project.

The anti-graft agency at that time raided the offices of four state government agencies – the Penang Public Works Department, Penang State Secretary, Penang Office of Lands and Mines, and Penang Valuation and Property Services Department – and three property development and construction companies – Ewein Zenith Sdn Bhd, 555 Capital Sdn Bhd and Consortium Zenith Construction Sdn Bhd’s Penang office.

Ewein Zenith is a joint-venture vehicle of Ewein Land Sdn Bhd and Consortium Zenith BUCG Sdn Bhd.

The latter is a Malaysia-China joint venture that was awarded the RM6.3bil mega project to build the 7.2km undersea tunnel connecting Gurney Drive on the island to Bagan Ajam in Seberang Prai, a 10.53km North Coastal Paired Road from Tanjung Bungah to Teluk Bahang, the 5.7km Air Itam-Tun Dr Lim Chong Eu Expressway bypass and the 4.075km Gurney Drive-Tun Dr Lim Chong Eu Expressway bypass.

Consortium Zenith BUCG changed its name to Consortium Zenith Construction Sdn Bhd after the withdrawal of Beijing Urban Construction Group (BUCG).

It is believed that the MACC is looking into why the state government allowed the Penang Tunnel special purpose vehicle (SPV) company to pre-sell state land rights worth RM3bil despite a four-year delay in the construction of roads.

Investigators are also believed to be looking into the RM305mil feasibility and detailed design studies that have yet to be completed, even though payment of RM220mil was made to the SPV.

Posted by adamdacutie > 2020-07-01 22:24 | Report Abuse

Die lo ewecon lo

Posted by laychee > 2020-07-01 22:37 | Report Abuse

Just possible investigation due to political need only. No proof of wrongdoing. If city of dream can sell all, company can still make money.

Posted by abang_misai > 2020-07-01 22:40 | Report Abuse

very positive thinking.

If PH is back to power in 2030, Ewein will be back to normal. Don't worry. Only temporary setback

Posted by laychee > Jul 1, 2020 10:37 PM | Report Abuse

Just possible investigation due to political need only. No proof of wrongdoing. If city of dream can sell all, company can still make money.

Posted by PanjiAlam55 > 2020-07-02 00:50 | Report Abuse

This is LGE good friend, PH already kaput.. later this stock to..hehehe

Posted by Erexlm > 2020-07-02 11:35 | Report Abuse

Lari jangan tak lari.

KUALA LUMPUR (July 1): Ewein Bhd is terminating a joint venture agreement with Consortium Zenith Construction Sdn Bhd (CZC), under which the partners had initially agreed to jointly undertake the development of The City of Dreams 2 — a luxury condominium project — on a plot of land in Penang.

The group first announced the agreement on Dec 2, 2019, when it said its subsidiary Ewein Zenith II Sdn Bhd (EZII) will pay RM159.75 million to CZC for the land, while CZC shall procure approval from the Penang government to alienate the plot to EZII as the registered owner.

The alienation was to be part of the consideration for construction works on major roads and a tunnel to be undertaken by CZC, Ewein said then.

The transaction would have been a related party transaction as EZII is wholly-owned by Ewein Zenith Sdn Bhd; CZC holds an 11% stake in Ewein Zenith, while the remainder 89% is held by Ewein’s wholly-owned Ewein Land Sdn Bhd.

The land measures about 4.34 acres (1.76ha) and is located along Gurney Drive in George Town. The City Of Dreams 2 would have been the second joint venture project between Ewein and CZC. The two parties had earlier jointly developed the first City of Dreams, a now completed luxury seafront property development, with a gross development value of RM800 million.

In a filing this evening, Ewein said it had issued a notice of termination to CZC to inform it that EZII no longer intends to proceed with the agreement.

This is because Ewein has yet to obtain approval from its shareholders in an extraordinary general meeting which should have been convened three months from the agreement with an extension of one month, which was due on March 31, 2020.

“Pursuant to this termination, CZC shall refund EZII all monies which EZII has paid in accordance with the agreement within sixty business days from the date of the notice,” it said.

Ewein shares closed unchanged at 32 sen today, giving it a market capitalisation of RM92.06 million.

Posted by laychee > 2020-07-02 13:58 | Report Abuse

I think not in bad shape. I think just to cut ties with the government. Certain boss has been trying hard to link this company with graft case to bring down certain political party.

Posted by King > 2020-07-02 17:26 | Report Abuse

get back cash and invest others.

Posted by laychee > 2020-07-04 16:29 | Report Abuse

Some bosskuku promised certain political party can be easily destroyed. Maybe that's the motivation behind the 'share-your-term' movement.

Posted by yizzy > 2020-07-09 23:45 | Report Abuse

i waiting it down but it still standing firm there

Posted by Akino Tok Tok > 2020-07-18 11:51 | Report Abuse

Bankrupt ? Any evidences or figures ? Ridiculous ! Its EPS maintains 1% to 5% all the years and NAPS increasing year by year since 2010 !

Posted by moneycome123456 > 2020-07-21 08:22 | Report Abuse

Collect time....

Posted by julian1981 > 2020-07-21 13:49 | Report Abuse

buying opportunity before the price increase.

Posted by tressele > 2020-07-21 14:12 | Report Abuse

collect now

Posted by Fundamentalist91 > 2020-07-22 17:18 | Report Abuse

In my opinion.

Even dummies would know that Q2, and in fact the whole year would be terrible in terms of revenue and profit. And so it would be wise to think that all the bad news are already priced in.

This company is accused to being political, but so far there's no proven allegation yet, it is simply accusation and it will go away.

look back at the trading price since 2008, its always around around an average of RM0.70 and has never even once posted a loss, its always profitable even a little. And the revenue and profit is way better nowadays than 2008, yet it is trading far away from its average.

There's plenty of points as of why to buy this stock, I'll make it simple.

1) Company has never made a loss.
2) Real estate company is always uncertain because it depends on projects, but every now and then, there's always a project and there will be always more.
3) Whenever there's a project/contract announced, price will spike up, so when is the best time to buy? when there's no project yet, like right now.
4) It is currently trading at 0.28, way far away from 0.70 average.
5) Pe ratio 2.8
6) Healthy cash balance, more cash than debt, even if no project for more than a year this company won't go bankrupt.
7) Market cap under 100M, small cap like this, if people start buying, you can expect 30% increase in a single day.

I invest in this company for long term, when people become irrationally fearful, run without any solid reason, that's the best time to buy this stock at a superb discount price. I'm not looking for any returns this year, but give it 1-2 years, I bet this stock will be at 1.0 and above eventually.

Posted by Horhor > 2020-07-22 19:33 | Report Abuse

fundamentalist91,yes yes good comment

Posted by joey > 2020-07-22 19:36 | Report Abuse

Good company

Posted by Pizzaboy > 2020-07-22 20:33 | Report Abuse

5c0160, why are you deleting old comments and discourage others to buy. You got no interest in this stock, but you are monitoring this thread. What is the reason? Its been long while, really fishy. I doubt if you were the operator.

Posted by Pizzaboy > 2020-07-23 22:01 | Report Abuse

lol, he deleted comment again. 5c0160. Just buy in guys

Posted by Erexlm > 2020-07-26 22:35 | Report Abuse

News incoming.

Posted by Horhor > 2020-07-27 01:25 | Report Abuse

what new

Posted by LETS_GO > 2020-07-27 09:56 | Report Abuse

What ur saying @miniminer? cant understand a thing

Posted by julian1981 > 2020-07-28 11:18 | Report Abuse

cut lost ..shit counter.

Posted by char1234 > 2020-07-30 00:26 | Report Abuse

U buy at the wrong time ....sell then but if it drops and drop

Posted by char1234 > 2020-07-30 00:26 | Report Abuse

please buy back ...

Posted by julian1981 > 2020-08-03 09:13 | Report Abuse

cut lost again..shit counter.

Posted by williamtkb > 2020-08-04 22:51 | Report Abuse

waiting below 10cents only collect. No rush... Maybe 1cent also possible

Posted by tressele > 2020-08-05 15:15 | Report Abuse

collect now before it's too late.

Posted by tressele > 2020-08-05 15:18 | Report Abuse

i can see the accumulation....

Posted by Fundamentalist91 > 2020-08-05 15:48 | Report Abuse

Sorry for those who sold yesterday, today up 18%

Posted by tressele > 2020-08-05 15:59 | Report Abuse

nice candle. uptrend is intact

Posted by tressele > 2020-08-05 20:53 | Report Abuse

I give 2 weeks for this stock. Let see

Posted by kllady_fidah > 2020-08-07 20:29 | Report Abuse

TP1 20 sen

Posted by Akino Tok Tok > 2020-08-08 10:24 | Report Abuse

MACC against LGE, not Ewein. Don't be too sensitive.

Posted by Horhor > 2020-08-08 10:47 | Report Abuse

Agree,tunnel still ongoing.

Posted by Horhor > 2020-08-08 10:47 | Report Abuse

Ewein. Still business

Posted by Akino Tok Tok > 2020-08-09 14:39 | Report Abuse

Lim GE and some assembly executives would get trouble, definitely NOT EWEIN。 Even CEO Dato Ewe also not in trouble. So what to worry ! 別杞人憂天。 心掛掛的應是正在壓價收便宜貨的炒家吧！

Posted by No_luck > 2020-08-13 12:12 | Report Abuse

LGE graft case caused by Ewein? Sold at 25 sen.

Posted by Akino Tok Tok > 2020-08-14 21:34 | Report Abuse

Accumulate and hold. Stands very firm at RM0.25.

Posted by Akino Tok Tok > 2020-08-17 20:12 | Report Abuse

5c0160 can be some body who recently all the time discourages others to buy. Why ? it seems he know the operator is accumulating while pressing the price low-low.

Posted by cutie > 2020-08-21 19:45 | Report Abuse

Limit up... Now interest rate so low.. I also want to buy more

Posted by moneycome123456 > 2020-08-21 21:19 | Report Abuse

How you get 3.13cents? Tq.

Posted by nicklelinea > 2020-08-22 07:29 | Report Abuse

1/16 x RM9,440,000 / treasury share no. which is around 18.3mil+

Posted by cutie > 2020-08-23 01:23 | Report Abuse

They calculate according to yesterday closing price 25sen...it is a 50 Sen share, u got to times 2 , is equals to 50 Sen. I to 16. 50 divided by 16 equals to 3.125...approximately 3.13 Sen lah

Posted by Akino Tok Tok > 2020-08-23 21:16 | Report Abuse

With 2 biji kelapa muda and tiga helai azimat, I get this : 0.265 + 0.0313 = 0.2963 .

Posted by Akino Tok Tok > 2020-08-25 19:54 | Report Abuse

Ewein will seek AGM (18-9-20) approval to buy back its own shares in the open market. Price sure be pushed up. The present price is almost the lowest in Ewein history. This is a very stable company never lose money since established. So, it is time to buy before the AGM. Its time to accumulate.

Posted by meerkat0078 > 2020-08-25 20:16 | Report Abuse

Good share to accumulate due to always profitable quarter results since listed on Bursa.

Posted by Akino Tok Tok > 2020-08-27 20:37 | Report Abuse

Ewein CEO bought in non-stop from open market peak time in July, August, and September 2018, price within RM0.6 to RM0.8. After that price going down and never going up until today. The price is too cheap comparatively. What to worry. Our CEO is in front of us. So,buy before the coming AGM (18-9-20).