See when share price drop the great bomoh Ravi Kumar will be hiding. When share price up then appear and say luckily had collected then give his Holland anticipation that share will up 20 cents. I bet he will cut loss soon.
HuatRex your Hibiscus and Ekovest already cut loss? Really shows why a loser you are!! Pick winning stock la. Tsk tsk tsk. Can’t stand it when others make money? I let you make a fool of yourself
24 Oct 2019 Acquired 1,000,000 EMPLOYEES PROVIDENT FUND BOARD 09 Oct 2019 Acquired 5,300 EMPLOYEES PROVIDENT FUND BOARD 08 Oct 2019 Acquired 300,000 EMPLOYEES PROVIDENT FUND BOARD 07 Oct 2019 Acquired 300,000 EMPLOYEES PROVIDENT FUND BOARD
EPF acquired/bought a lot of Uzma EPF always have up to date, internal news, in order to support a good dividend payout. EPF acquired ahead of this coming Nov 26, 2019 quarter result to be released, Uzma net profit is expected to increase higher.
Uzma at 0.975 now is a good bargain/cheap price to buy before quarter result out Nov 26. Operators/sharks are pressing Uzma price down now, so that the operators/sharks can buy cheap. Once operators/sharks collected, then the next wave of Uzma will up in trend with the increase of net profit (Nov26).
As usual choice is yours, Uzma is a good buy now at 0.975. Near TP1.45, next TP 2.5
Those who are worry about Uzma Legal Action, need to understand this :-
UZMA is suing two subcontractors to recover overpayments on the Kinabalu construction project. Overall, we are neutral as related expenses from the dispute has already been incurred in FY19A, and hence, earnings impact (if any) can only be positive should the court rule in favour of UZMA. Meanwhile, outlook for the company is also expected to improve, bouncing back from an underwhelming FY19. Upgrade to MP with TP of RM1.05.
Uzma sues to recover monies. Earlier, UZMA announced that it is taking legal action against South Korea’s Khan Co Ltd and Kong Offshore Malaysia who were UZMA’s subcontractors for the KNPG-B Topside Ph II, Kinabalu Non-Associated Gas (NAG) Development project. Disputes arose when the companies under-delivered their subcontracted works, resulting in UZMA having to take over the said project execution. UZMA is seeking to claim a total sum of RM63.14m plus interests comprising of rectification and additional costs to complete the project, as well as all sums found to be overpaid by UZMA.
Neutral on the impact. Overall, we are neutral on the news, as projectrelated expenses linked to the disputes have already been incurred in FY18-19A (i.e. no additional negative earnings impact moving forward), with the project already at 99% completion currently. As such, earnings impact (if any) can only be positive should the court rule in favour of UZMA. For illustration purposes, the aforementioned sum of RM63.14m (excluding interests) represents an upside of >100% on our FY20E numbers.
Uzma :Upgrade to MARKET PERFORM, given its improving outlook on the back of: (i) normalised earnings levels expected moving forward, and (ii) beneficiary of increased local brownfield oil and gas activities, translating to potential contract wins. Post-relook, we raised our FY20E/FY21E CNP by 56%/18%, accounting for higher job executions. Meanwhile, our TP is also raised to RM1.05 (from RM0.61 previously), after pegging higher valuations of 0.6x PBV on FY20E, implying 10x forward PER (from previous valuation of 0.4x PBV at “floor” of -1.5SD from its mean).
If the "over payment" of the project related expenses is recoverable, such expenses will be reversed from the income statement, and the profit should goes up by 76% of the expenses (after corresponding income tax).
If is deemed not recoverable, it become real expenditures and that has been booked (tax implication taking into accounts as well) in the previous year. No write off for the current financial period.
@MingGoon. But those auditors seems to have missed out the overpayment in 2017. If their audit was so good, they would have detected the overpayment and qualified the accounts. That would have alerted investors.
This failure is an indication of how good was the audit done in 2017.
OTB The project was completed in July 2017. Over payment was already accounted for 2017/2018 financial results. There will not be any loss in future quarter result. Hence this over payment is already discounted. If the court case is positive, any claim back is an extraordinary gain. I do not see any loss will appear in future earning, I can only see the gain if the over payment can claim back.
OTB Using the closing price to count, major resistance for Uzma is 1.07. This 1.07 is also the pivot line of Cup And Handle chart formation. Once 1.07 can cross convincingly, the share price of Uzma will shoot up very high. Market rumour is all oil and gas maintenance players will do very well in this incoming quarter result. I also believe quarter result of Uzma will be good. The share price of Carimin had moved up, no reason Uzma cannot follow. Just wait patiently to win big if the share price of Uzma can cross 1.07 convincingly today. Thank you. 08/11/2019 3:37 PM
Upsidedown, if you have shares in Uzma, hope Uzma goes up then, and I hope you will be rich or richer.
This coming to be release qtr result Uzma will be doing good. Cheers Uzma, and cheers upsidedown... Stay safe Upsidedown, and keep our hard earn money working harder for us.
Over payment for a project is just like normal operation cost need to be reflected in the accounts when incurred or very high possibility it will incurred. Since this is already taken up in Uzma's book, all the impact already been reflected in the previous quarter results. Why so panic when Uzma now can sue for recovery and it should be treated as extra ordinary gains if successful? Top up and sit tight for more better results coming. Huat ah....
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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....
HuatRex
2,617 posts
Posted by HuatRex > 2019-11-18 23:29 | Report Abuse
Upsidedown119, let's see at the end this shock sendiri will be last man standing or cut loss like a dog