Even the old fox ConYY lost at least 3.4 mil to this counter...well, I sold down to 900 shrs, then could not sell any more coz it was below my avg cost by that time.
News is out and QR is long to go. Either cut lost or hold till next QR as mid term. Just buy when in deep where T+3 is best time to buy and hold for mid term. Queue for 15c or lower.
In a filing with Bursa Malaysia yesterday, its executive chairman and group managing director Tan Sri AK Nathan said Eversendai has tied up with Algihaz Holding Construction to secure and execute these mega projects.
actually since im a shareholder (just now bouight 0.33cents 100k unit aka rm33k) i just look through the financial end report, i didint see any fishy thing? i saw they are actually making quite alot of money from middle east and india, so i think it is worth the bet :D (just my 2cents since im now on boat as well :D)
If Malaysian company cannot make money India, whose fault is that? Isn't that management's bad decision? Don't show your discriminative racist behaviour to the world.
World Insights: Why multinational companies are quitting India Source: XinhuaEditor: huaxia2024-01-10 18:08:15
HONG KONG, Jan. 10 (Xinhua) -- A long list of multinational companies has failed in India. Notable cases include General Motors from the United States, Vodafone Group from Britain, Holcim Group from Switzerland, and BYD from China.
It seems only fair for global giants to invest in India which boasts a large and steadily growing domestic market, an ample supply of inexpensive labor, a large group of English-speaking population, decent economic growth and a favorable geopolitical situation.
However, the list of obstacles they face in India is equally long: "regulatory flip-flops, high tariff barriers, red tape, perplexing land policies, infrastructure issues and others tied to the ease of doing business," according to the Indian daily newspaper Deccan Herald.
To make things worse, the Indian authorities do not hesitate to show their ability to subject foreign companies to unfair treatment and even persecution. The third-largest economy in Asia is seeing many foreign firms giving up on the country.
THE INDIAN PARADOX
For foreign companies which expect a predictable, stable, and transparent policy framework and judicial system, the Indian authorities posed extra challenges over operational risks and market competition.
"While the government is making plans to simplify regulatory processes in India, the constant changes give rise to uncertainties," said Neeraj Agarwala, a director at consulting firm Nangia Andersen.
Worse still, there are 26,134 imprisonment clauses in India's business laws, according to an Observer Research Foundation report on the risks of corporations doing business in India.
It has become commonplace for foreign companies in India to face hefty fines for an already long and still-growing list of violations that often ignite controversy in the business community.
"The legislation, rules and regulations enacted by the union and state governments have over time created barriers to the smooth flow of ideas, organization, money, entrepreneurship and through them the creation of jobs, wealth and GDP," said Gautam Chikermane, vice president of Observer Research Foundation.
According to PwC India's former leader on infrastructure Manish Agarwal, although foreign direct investment is still coming to India, strategic investors have stayed away.
"India needs to ensure proper project preparation timelines for public-private projects, provide balanced risk-sharing guidelines, and contracts should be enforced properly," Agarwal said.
RISK OF BLACKMAIL
Recent years have seen the Indian government double down on blackmailing foreign companies with trumped-up charges. Google, Amazon, Nokia, and Samsung have all suffered outrageous fines, while Intel, Wistron and others have also hit snags in the Indian market.
"You can earn money here; you can spend money here, but you can never take what you have earned here back home," some investors in the country have lamented.
The Directors of the Company wish to announce that ECB’s subsidiaries in Kingdom of Saudi Arabia (“KSA”), United Arab Emirates (“UAE”) and India have secured new projects worth RM5.4 billion.
The Projects
In KSA, its subsidiary company, Eversendai Engineering Saudi LLC in collaboration with Albawani Company Limited secured the first structural steel signature building from NEOM for the Trojena Ski Village, NEOM’s year-round mountain destination. The scope of work consists of engineering, connection design, material supply, fabrication and installation of structural steel, precast and concreting, metal decking and fireproofing for the iconic mountain resort in Trojena’s Ski Village.
In UAE, its subsidiary company, Eversendai Mega Structure FZ LLC secured the structural steel scope for the Wynn Al Marjan Island Integrated Resort Development in Ras Al Khaimah which will feature a 1,500 rooms luxury hotel with world-class shopping, state-of-art meeting and convention facilities, bespoke restaurants and lounges, extensive entertainment choices and other amenities.
Its subsidiary company in India has secured two (2) structural steel projects which includes the Rupa IT Building and the Rupa Crystal IT Building.
With the above new projects, the Group’s current outstanding order book is RM6.6 billion, a record in ECB history.
*4 Projects*
One JV in Saudi Arabia ( Trojena’s Ski Village), one in UAE ( Wynn Al Marjan) and 2 IT buildings in India.
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....
kangcs
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Posted by kangcs > 1 month ago | Report Abuse
ollecting starts from 32sen-39sen....will SHOOTING UP later