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my impression towards work ministry is generally positive . at least under him , some major projects are back on tracks .
during baru bian time , u barely seen anyone working on the project site. but after Fadillah taking over , the contractors came back .
pan Borneo highway Sabah
progress
awarded in between 2017 to 2018
March 2019 10%
Feb 2020 20% , contractors no where to be seen in most place , only 2 functioning contractors
yes . this is what I afraid .
last 2QR I estimated the oil and gas piping project , the crude profit margin is about 30% . for pan Borneo project , the crude profit margin is about 10-15% .
steel pipe manufacturing business should be thriving .
risk
can the company getting similar profitability from the new oil and gas project ?
nevertheless, the management is commendable for the balance sheet during such challenging period .
I was unable to attend the AGM last month .so I can't really comment how ambitious is the boss .
It will come, just a matter of time, remember Sarawak election is coming, the election theme will be in soon......know others who don’t know, is the best way to be ahead of others.
Ricardo......I am staying in a very small village name Behrang Station. How to go to the 股東大会. I just read the annual report and follow it’s latest news and development and monitor it.
i had some review of my homework on KKB , made some adjustment again to avoid overestimation .
KKB should be able to make about at least 10M of profit in next QR with the known contract on hand , as some projects , personal estimate is about 12M . At such situation , RM 1.8 at PE 10 is not too difficult.
•The performance is within expectation. With excellent balance sheet , some free cash flow (excluding dividends). Cash equivalents increased from 111M to 133M , even after the dividend was paid.
My verdict is remaining same. Now wait for new contract announcement.
just revised the TP , is about 1.85 to 2.1 . I'm guessing the new project is worth about 200-250M . after convertion will be about 130-140M . assuming the construction period is 2 years . its expected to bring about 15-16M of additional revenue , bringing the total revenue to 130-140M per Q , profit 13-15M
Hi, Ricardo. Hold this stock for more than 3 months. Received dividend and from earning became loss and now become earn. Plan to sell all in 2 stages at 1.86 and 2.05.
Soon Tak, ya, playing this counter eats up all your patience. with no catalyst, this stock probably will drift sideways...however, it is still a fundamentally sound counter
