Income is right. Analysis, analyze, FA or TA, buy on rumour sell on news? ... etc. Must be careful. Don't rush. Make good decision and go for mid long term. Don't PUNT else, win 100 times, and 1 time gone into longkang.
January 20, 2017 KUALA LUMPUR: Ekovest Bhd’s plan to list the Duta-Ulu Kelang Expressway (Duke) is on schedule with the initial public offering (IPO) expected to take place within seven years.
“The IPO plan is ongoing (but) depends on the market (conditions),” Ekovest managing director Datuk Seri Lim Keng Cheng said after the company’s extraordinary general meeting (EGM), here, yesterday.
The listing of the highway is part of the deal when Employees Provident Fund (EPF) bought a 40 per cent equity interest valued at RM1.13 billion in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi), a wholly-owned subsidiary of Nuzen Corp Sdn Bhd.
Nuzen Corp, in turn, is the wholly owned subsidiary of Ekovest. Lim said Duke Highway’s exit payment condition was RM149 million, either to be listed (on Bursa Malaysia) or trade sale to a third party to generate a return of at least 11.5 per cent for EPF and Ekovest.
“When that happens, Ekovest will be entitled to take the RM149 million, plus the accrued interest rising from the amount,” he said. The listing, according to the shareholders’ agreement, is within seven years.
“We are waiting for the toll to be operational to be able to gauge the cash flows and then pick the right timing to go for listing,” Lim added.
While Phase One of Duke (DUKE1) is already operational, Phase Two of uke (DUKE2) is set for completion by mid-year.
“Phase Two is 95 per cent completed and we have started inspection with the highway authority. The (remaining) five per cent is for inspection, testing and commission,” he said.
The Malaysian government has met with several private sector parties to "gauge their interest" in pursuing the canned KL-Singapore high-speed rail project.
According to The Edge Malaysia's report on March 27, five companies were invited for a meeting recently. They are MMC Corp, WCT Holdings, Berjaya Group and Malaysian Resources Corp.
The Edge Malaysia points out that Gamuda, which has undertaken most of the big infrastructure projects in Malaysia, was not involved.
However, The Edge Malaysia, citing an unnamed source, says that it is a matter of time before Gamuda and other construction companies such as IJM Corp and Sunway Construction will have similar meetings.
Transport minister Anthony Loke was reported as saying on March 8 that the Malaysian government is open to reviving the HSR project. "But it must be a private sector project."
The HSR project, meant to link Singapore and KL, was put in motion under former prime minister Najib Razak but was terminated in 2021 by former prime minister Muhyiddin Yassin.
HSR is big impact to boots up Malaysia economic, the link is NOT only to connect KL-singapore, but link up to Thailand ended in China in line with RCEP roadmap for better cross border trading
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....
theyoungman
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Posted by theyoungman > 2023-03-10 08:00 | Report Abuse
Income is right. Analysis, analyze, FA or TA, buy on rumour sell on news? ... etc. Must be careful. Don't rush. Make good decision and go for mid long term. Don't PUNT else, win 100 times, and 1 time gone into longkang.