Posted by crawler > 2014-07-01 10:51 | Report Abuse

wait for the dividend la...is the best time to buy more before it shoots up

Posted by crawler > 2014-07-01 10:52 | Report Abuse

you never know when AK will take it private

Posted by crawler > 2014-07-01 12:09 | Report Abuse

buying more no one want to sell..sigh

Posted by iqie > 2014-07-01 17:09 | Report Abuse

Q3 must give divident to boost confident..

Posted by Carlsraj55 > 2014-07-03 15:33 | Report Abuse

When will it move back to its past glory ? Dividend is also nothing to shout about.

Posted by iqie > 2014-07-03 16:10 | Report Abuse

Good Dividen Company ? hope Q3 ada div lagi...

Eversendai Plans More Liftboats, Rigs

KUALA LUMPUR: Eversendai Corp Bhd is scaling up its oil and gas (O&G) venture by building more liftboats and jack-up rigs to bolster revenue and profit.

Eversendai Corp executive chairman and group managing director Tan Sri A.K. Nathan said this will lead to a move into the refurbishment and maintenance of O&G assets business and ensure recurring income.

Nathan is upbeat that by 2017, its O&G business will contribute 50 per cent to its income and help it achieve the RM2 billion revenue target. The rest will come from its structural steel and power-plant businesses.

“I want to move towards becoming a good dividend-paying company, which is why I’m building up Eversendai. The market for liftboats and jack-up rigs is huge and it is a global business,” he said recently.

Last month, Eversendai won a RM580 million contract to build two liftboats from Vahana Offshore (S) Pte Ltd, a company wholly-owned by Nathan.

The contract represents the first venture into the offshore O&G market via its wholly-owned unit Eversendai Offshore RMC FZE, which builds, upgrades and refurbishes jack-up rigs and floating production, storage and offloading systems.

Eversendai is also the first Malaysian company to build its own liftboats and jack-up rigs soon.

Local and international O&G companies currently buy these assets from foreign firms in Europe and Asia, including Singapore.

The liftboats will be built at its fabrication yard at RAK Maritime City in Ras Al Khaimah, United Arab Emirates.

Named Aryan and Arjun, each will have a rectangular hull and four 95m truss-type legs with electric drives and pinion jacks that will allow it to jack up to a depth of 70m. There will also be a 300-tonne crane, accommodation for up to 150 operatives and dynamic positioning systems.

“Eversendai has built all types of complex steel structures since 1980s and in 2000, we moved into mechanical erection work for power plants. When I look at topsides in the O&G sector, I see steel structures and mechanical erection works, thus I know Eversendai can also execute that.

“Based on that, I decided to move into upstream and downstream O&G activities and bid for contracts in Europe, the Middle East and Asia. I have worked tirelessly for the last two years to build this business segment and expand the company,” Nathan said.

Of the two liftboats, he said the hull and jackup legs are made of steel, and Eversendai has the expertise and capability to execute that based on tolerance.

“What we need is the propel, control and jacking systems. This is a specialised area and we are contracting that out to specialist companies,” he added.

http://www.malaysiandigest.com/technology/288-uncategories/507640-eversendai-plans-more-liftboats-rigs.html

Posted by iwan1991 > 2014-07-03 18:06 | Report Abuse

very good company.. hope one day its will reveal its true colour..

Posted by ybka > 2014-07-04 01:52 | Report Abuse

venturing into new business is a risk... boleh percaya AK ke?

Posted by iqie > 2014-07-04 10:52 | Report Abuse

Venturing cost sudah diambil kira dalam Q report sebelum ini, bermula Q 3, masa untuk menuai...

Posted by fhis > 2014-07-04 16:59 | Report Abuse

monday is sendai day...1.05 no problem i guess.

Posted by leong1188 > 2014-07-06 11:26 | Report Abuse

Shall b breaking RM1 by tomorrow. Dunn miss it!

Posted by iqie > 2014-07-06 22:43 | Report Abuse

THE oil and gas (O&G) industry may be in vogue for investors, but Eversendai Corp Bhd’s foray into the sector has not really piqued investor interest. In May, Eversendai announced it had bagged contracts for the construction of two liftboats valued at RM580mil.

Liftboats are generally self-propelled working barges that are used in a wide array of offshore jobs.

Eversendai group executive chairman Tan Sri A.K. Nathan describes the venture of building liftboats as a “breakthrough” on the premise that his is the first Malaysian company to do so.

Building and owning liftboats is a niche business in this part of the region. The only other company in this business is Singapore-listed Ezion Holdings Ltd, which is the largest liftboat owner in the world. Almost all major liftboat players are from the United States except for Gulf Marine Services, which has a base in the Middle East.

But can Eversendai successfully venture into this business? “Eversendai is traditionally known for its expertise in construction for steel and building structures. Can it pull this one off?,” quips one analyst covering the stock.

Eversendai shares are trading at 98.5 sen with a market cap of RM762.2mil. This is over 40% down from its 52-week high of RM1.75 recorded in July last year. The stock had traded to a 52-week low of 88 sen in March.


Nathan: 'We have a few offers on the table.'

Hong Leong Investment Bank (HLIB) Research reckons that Eversendai’s share price has priced in expectations for contract flows and that it would take earnings recovery in the coming quarters to regain investor confidence after a weak first quarter of financial year 2014 (FY14). Eversendai’s net profit for the first quarter of this year fell 54% to RM10.99mil from RM23.68mil a year ago.

“Although the recent contract wins are welcome news and could help to make up for the weak first quarter, we believe execution would be key in investor perception,” the research firm said in an end-May report after Eversendai’s offshore unit secured the liftboat jobs from Vahana Offshore (S) Pte Ltd – a company wholly owned by Nathan.

The liftboats – named Aryan and Arjun – are expected to be ready in February and May 2016, respectively. Each liftboat will have a rectangular hull and four 95m truss-type legs with electric drives and pinion jacks that will allow it to jack up to a depth of 70m. There will also be a 300-tonne crane and accommodation for up to 150 people.

The units will be built at Eversendai’s fabrication yard on a waterfront land measuring approximately 200,000 sq m with 550 m of quayside in Ras Al Khaimah, the United Arab Emirates (UAE).

Nathan dispels pessimism that the company does not have the know-how to undertake the project. “Close to half the job scope in building the liftboats involve steel structures, where we have a stellar reputation. The hull and jack-up legs, for instance, are made of steel and we have the expertise for it,” he tells StarBizWeek. For the specialised areas of propel, control and jacking systems, the company has engaged the right expertise, he adds.

On why he chose to be the owner of the two liftboats through Vahana Offshore, Nathan says he is taking on a personal risk to first create a track record, given that liftboats are a relatively new concept in this part of the region. “We have a few offers on the table from parties expressing interest in our liftboats, but we have not struck a deal yet. Demand is picking up and we are confident,” he says.

Nathan is Eversendai’s founder and major shareholder with a 70.9% stake. The company’s other shareholders are the Employees Provident Fund with an 8.1% interest and Lembaga Tabung Haji with 5.2%.

Eversendai needs little introduction for its involvement in many iconic developments locally and overseas such as the Petronas Twin Towers and the Burj Khalifa in Dubai, UAE. Eversendai has a strong presence in the Middle East, with the bulk of its earnings coming from this market.

“We have built all types of complex steel structures since the 1980s, and in 2000, we moved into mechanical erection work for power plants. When I look at topsides in the O&G sector, I see steel structural works, so I know we can also execute our maiden liftboat project. In fact, it’s more challenging to build a coal-fired power plant,” Nathan enthuses.

Eversendai diversified into the O&G sector two years ago. Nathan says he has spent the last two years working tirelessly to scale up this business segment.


Read more : http://www.thestar.com.my/Business/Business-News/2014/07/05/Lifting-expectations-Eversendai-attempts-breakthrough-in-OG-with-liftboat-venture/

Posted by iwan1991 > 2014-07-08 17:53 | Report Abuse

http://klse.i3investor.com/blogs/PublicInvest/55539.jsp yeah TP upgrade.. rm1.30

Posted by iqie > 2014-07-13 14:40 | Report Abuse

Awal Tahun depan AK mahu bagi kontrak lagi RM600juta pada eversendai dari syarikat milik penuh beliau ( vahana ).

Aku rasa baik dia angkat je adik beradik najib jadi ceo ganti dia, esok mesti harga cecah RM2. He he.

http://www.nst.com.my/node/11345

TAN Sri A.K. Nathan’s privately-held Vahana Offshore (S) Pte Ltd will award new contracts worth over RM600 million to Eversendai Corp Bhd.

The contracts will be awarded by early next year, he said in an interview, here, recently.

Nathan, who founded Vahana Offshore this year, owns 70.95 per cent of Eversendai, an integrated structural steel turnkey and power plant contractor.

He is awarding the contracts to Eversendai’s wholly-owned unit, Eversendai Offshore, via Vahana Offshore, to create a track record and platform for the company to build liftboats and jack-up rigs for the oil and gas (O&G) sector.

The Eversendai group will be the first Malaysian outfit to build these units on its own.

The units will be fabricated at its yard at RAK Maritime City in Ras Al Khaimah, United Arab Emirates.

Last month, Vahana Offshore awarded RM580 million worth of contracts to Eversendai Offshore to build two liftboats, which will be ready in February and May 2016, respectively.

Each liftboat will have four 95-metres truss-type legs with electric drives and pinion jacks that will allow it to jack up to a depth of 70 metres.

“I plan to build two more liftboats, which will have four truss-type legs of over 100 metres and can work to a depth of more than 100 metres. It will also have a larger deck space, and accommodation for over 200 people.

“By virtue of constructing liftboats, we are building a platform for Eversendai to build jack-up rigs. After that we will venture into refurbishment and maintenance of liftboats and jack-up rigs to create recurring income business.

“The business for liftboats is very lucrative and it will inch up our earnings. Jack-ups rigs are a suppporting business, which will help grow the company,” Nathan said.

On Vahana Offshore, he said the company will eventually own assets in the marine and O&G sectors.

“I am taking the risk to become an owner of these assets and by awarding contracts to Eversendai Offshore to pre-qualify the Ras Al Khaimah yard, creating a track record for the company in the O&G sector.

“My life is all about Eversendai,” Nathan said.

Posted by melakaboyz > 2014-07-14 08:18 | Report Abuse

Dubai already fly. Now its time for sendai...

Posted by iqie > 2014-07-14 16:24 | Report Abuse

Good Sign from Dubai !

Posted by iqie > 2014-07-15 23:58 | Report Abuse

Great, Dubai Index rise Again today !

Posted by angkor > 2014-07-16 00:00 | Report Abuse

sendai is about time to fly...

Posted by iqie > 2014-07-16 16:00 | Report Abuse

it's Coming !

Posted by madcow > 2014-07-17 10:32 | Report Abuse

Don't fall back below 1.00 consider good ady

Posted by DickyMe > 2014-07-17 22:23 | Report Abuse

1.38 next stop.

Posted by madcow > 2014-07-22 09:49 | Report Abuse

I am selling this, it can't even maintain at $1

Posted by Funtrade > 2014-07-22 10:02 | Report Abuse

pe 43. better sell

Posted by iqie > 2014-07-22 12:09 | Report Abuse

Yeah , sell, we buy it, next Q should be better, pe will decrease..

Posted by iqie > 2014-07-22 14:50 | Report Abuse

ok, dah dgr AK nathan di BFM, 2 0r 3 weeks one more 200mil project will be secure...

Posted by moderatequeen > 2014-07-22 20:47 | Report Abuse

Yep! I listened to BFM dis morning's radio also, sendai will be the next counter to fly after knm & sumatec..those who hv fate in this counter just hold tight..

Posted by angkor > 2014-07-22 21:48 | Report Abuse

http://www.bfm.my/breakfast-grille-tansri-ak-nathan-eversendai.html

Posted by Carlsraj55 > 2014-07-22 22:40 | Report Abuse

AK is talking about re-classification from Construction to Trading/Services sector. I remember this was mentioned some time ago. Is it so difficult to re-classify ? Nevertheless this is a good counter for mid to long term investment.

Posted by Funtrade > 2014-07-22 22:47 | Report Abuse

AK nathan talk coke on bfm.

Jul 2013 : RM1.70
Jul 2014: RM1.02

Drop 40% in one year. Good company.

Posted by madcow > 2014-07-22 23:01 | Report Abuse

he is tired of buying his own shares ....

Posted by iqie > 2014-07-23 13:20 | Report Abuse

Just wait, rm1.70 will be back soon..

Posted by madcow > 2014-07-23 16:12 | Report Abuse

no volume oso, can go to $.170 ?

Posted by ybka > 2014-07-24 10:04 | Report Abuse

agree wt madcow

Posted by madcow > 2014-07-24 12:17 | Report Abuse

sell the company on BFM no use la, better he treat EPF fund manager big dinner function

Posted by madcow > 2014-07-24 12:18 | Report Abuse

boast the project billion dollars but pay dividend on 1 cent

Posted by angiekool > 2014-07-24 12:19 | Report Abuse

Do you know the magnitude of risks when one runs a business in the Middle East? How many companies go bankrupt in the middle east? WCT also got burnt few years ago.

Posted by Funtrade > 2014-07-24 12:20 | Report Abuse

treat fund manager push to RM1.10

treat Kenneth Vun, Tey or Ooi, or other low profile kaki goreng

Goreng all the way !!

Nathan really beh pakai, Cut loss is the only way to free ur capital

Posted by iqie > 2014-07-24 12:31 | Report Abuse

jual sahaja kalau tak yakin.. i'm waiting Q3 result this november...

Posted by madcow > 2014-07-24 22:55 | Report Abuse

nak jual tapi nobody want to buy, tak ada volume ... trapped

Posted by madcow > 2014-07-24 22:55 | Report Abuse

AK tolong beli, 1.02 aje

Posted by speakup > 2014-07-24 23:12 | Report Abuse

PE 43x! low dividend. still overvalued!

Posted by iqie > 2014-07-25 18:57 | Report Abuse

500k unit tu bukan volume ke? Jual sahaja la, cut loss. Beli saham lain, dah tak yakin buat apa simpan.

PE mmg 43x sebab untung sikit, nanti untng dah stabil balik PE turun la..

Posted by madcow > 2014-08-01 12:07 | Report Abuse

ooo, all stock downtrend today but Sendai goes up pulak

Posted by King Kong73 > 2014-08-01 16:02 | Report Abuse

Boss besar..jual share dia off market all 71% of them

Posted by King Kong73 > 2014-08-01 16:03 | Report Abuse

Bagi cair sikit itu share...baru boleh sedap.goreng

Posted by King Kong73 > 2014-08-01 17:21 | Report Abuse

Sorry..just transfer from boss besar to syarikat.boss besar vahana

Posted by iqie > 2014-08-01 18:24 | Report Abuse

Kalau take over semua, agak-agak harga shoot harga ipo tak ? Hehe

Posted by sunztzhe > 2014-08-01 18:40 | Report Abuse

Further price downside for SENDAI is very limited. Future price upside is very much dependent on how well and how fast it executes its new business in Lift boats and jack up rigs. Good time to accumulate at current price level.

Posted by iqie > 2014-08-02 06:24 | Report Abuse

World Market near all red except Dubai Stock exchange... Good for sendai !

Posted by madcow > 2014-08-04 09:19 | Report Abuse

wow, EPF is 2nd largest shareholders in EPF ...