FULL STEAM AHEAD FOR PFCE’S MAHA TOWER

Posted by Jimmy Song > 2013-11-04 19:45 | Report Abuse

FULL STEAM AHEAD FOR PFCE’S MAHA TOWER PFCE TODAY HOSTED ITS PILING CEREMONY OFFICATED BY FORMER PRIME MINISTER, Y.A.BHG TUN DR MAHATHIR MOHAMAD LANGKAWI, KEDAH, 04 NOVEMBER 2013 – PFCE Integrated Plant and Project (“PIPP” or the “Company”) held its piling ceremony for the MAHA Tower and its 28.5 acres of integrated tourism development project today. The event was officiated by the Former Prime Minister of Malaysia - Y.A.Bhg Tun Dr. Mahathir Mohamad. PIPP is a special purpose vehicle incorporated to undertake the development of the MAHA Tower and the commercial developments surrounding the said tower. The Company had been in talks and working very closely with Lembaga Pembangunan Langkawi (“LADA”) for an extensive period of time for the proposed development before it was eventually fully awarded to PIPP. The project was originally proposed by PIPP’s team with a vision to further enhance the inflow of tourist and once again place Langkawi Island on the world map as one of the tourist hotspots. The proposed iconic tower - MAHA Tower - will stand at a height of 138 metres with a telecommunication control room at 111 metres and an observation deck at 102 metres and above sea level with a view of Pulau Dayang. The site of the proposed development project is in the process of reclamation with approximately over 2 acres of the land being reclaimed thus far by Dekinjaya Builders Sdn. Bhd. who is also the appointed construction company for this upcoming project. PIPP targets to complete the construction for the MAHA Tower by mid-2015. In addition to the tower there will be a surrounding commercial developments, which will comprise of service apartments, hotels, multi-storey retail units etc. The estimated GDV for this integrated tourism development project will be approximately RM300 million “In addition to being a major landmark in Langkawi, I believe that this development will also attract positive economic activities for Langkawi and Kedah” commented by Dato’ Abu Hassan Bin Mohamed, Special Adviser to PFCE Integrated Plant & Project Sdn. Bhd. Upon the completion of the MAHA Tower, PIPP will be the legal owner of the tower and shall be responsible for the property management and commercial activities of the tower until the expiry of the lease. “I believe that the development of Langkawi will have a positive impact as a result of an increase in tourist numbers and also an increase in investment from the private sector towards future projects.” commented Ybhg. Tan Sri Khalid bin Ramli, Ketua Pegawai Eksekutif LADA.

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12 comment(s). Last comment by zoro51 2013-12-23 18:23

zoro51

29 posts

Posted by zoro51 > 2013-11-04 22:10 | Report Abuse

I dont trust the people in PFCE. They are good at getting contracts wiith direct nego and after securing the contract, they just sell it off and make some profits. Their track record in the O & G business isnt good, they cannot deliver eventho the contracts are given to them on a silver platter!!!

zoro51

29 posts

Posted by zoro51 > 2013-11-04 22:24 | Report Abuse

Just go to its website and you will be amazed, the company is not an O & G outfit but is involved in pottery!! It has been many moons since they took over the pottery company and yet this simple thing, its website is not updated!! Doesnt this speak volumes about this company? An advice given to me by someone who used to work in this company (PFCE), stay away from playing its shares!!

zoro51

29 posts

Posted by zoro51 > 2013-11-05 09:57 | Report Abuse

For our infor, the people who are at the helm of this company, PFCE are almost the same people who were in Maju, Ipmuda and Perwaja, companies with poor track records! The directors make money, tons of money but shareholders are left in the lurch! So be careful!

zoro51

29 posts

Posted by zoro51 > 2013-11-06 13:22 | Report Abuse

Becareful!! This company will make all sorts of announcements. Dont be conned! Dont put your money in its shares. No dividend and the shares remain laggard!!Meanwhile, its directors and owners make tons of money!! If you dont believe, check on Perwaja, Maju and Ipmuda. Records are there for all to see.

WadeWilson

2 posts

Posted by WadeWilson > 2013-11-06 14:19 | Report Abuse

PFC Eng Sdn Bhd has been in the steel business from 2002 and departed from Maju Group in 2007 becoming a privately-held company heavily doing O&G businesses with Petronas ever since. They bought over the pottery company (APP Industries Bhd)in 2011 which was renamed PFCE Berhad for the purpose of RTO exercise.

PFCE-IPP is an SPV to lead the tower development which is totally using private finace initiatives not a single cent from shares or gov money.

zoro51

29 posts

Posted by zoro51 > 2013-11-07 00:21 | Report Abuse

Talk to those in the O & G business or those in Petronas, and they will tell you that PFCE has failed to deliver!

zoro51

29 posts

Posted by zoro51 > 2013-11-08 11:58 | Report Abuse

If PFCE calls for rights on its shares, my personal advice, DONT subscribe! Your money will be stuck!! You will not make money but loose money. Better to invest in shares where theres dividend yield and the shares appreciate.Not this one. Never!!

WadeWilson

2 posts

Posted by WadeWilson > 2013-11-08 15:40 | Report Abuse

This project is about development of the tower and is totally independant not asking for any investment/shares since its using PFI. Plus it has nothing to do with the O&G sector. On that note, i think its best to come up with facts rather than basing allegations from merely talks, rumours and word of mouth

zoro51

29 posts

Posted by zoro51 > 2013-11-08 22:37 | Report Abuse

Track records dont lie.Most of the directors of PFCE were either in or had links with Perwaja, Maju or Ipmuda before. Have we heard these companies giving dividends? They didnt even perform in the O & G biznes. They drive flashy cars but minority shareholders got their money stuck!! The directors have to buck up, know their biznes and more importantly, deliver!(especially when their past records arent good).

zoro51

29 posts

Posted by zoro51 > 2013-11-08 23:13 | Report Abuse

Be careful. To raise money, the company will call for RIGHTS.A simple way to raise funds to finance its projects. A simple advice if you are holding the PFCE shares. Dont get conned, if you dont want your hard earned cash to get stuck, dump the shares to avoid subscribing to the rights!!Invest in other O & G stocks such as SONA, CLIQ or BARAKAH which are better bets.

zoro51

29 posts

Posted by zoro51 > 2013-11-08 23:20 | Report Abuse

At the moment, they are suppressing the PFCE shares and then they will push it to make it look good and what will happen next? They will announce a rights issue. An advice, do your homework, check all records of not only the company but also the men behind the company.Track records dont lie.

zoro51

29 posts

Posted by zoro51 > 2013-12-23 18:23 | Report Abuse

Told you so! Price of PFCE shares have plunged!!Its a no hope. My friend has been trying to sell the shares but no buyers!! Almost everyday no volume no trading! Nobody interested to even buy this counter and the directors are doing nothing.Real kaput company!!

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