Author Topic: WCT  (Read 265 times)

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WCT
« on: August 10, 2015, 06:25:37 PM »
AmResearch maintains Hold on WCT Holdings
Namotasapakawatoarahatosamasamputasa

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Re: WCT
« Reply #1 on: August 10, 2015, 06:27:03 PM »
AmResearch has reaffirmed its Hold call on WCT Holdings with a revised fair value of RM1.50 per share (40% discount to net asset value) following the completion of its rights issue exercise.

It said its new fair value incorporated the issuance of 107 million new shares arising from the one-for-10 rights issue as well as the upcoming issuance of new warrants (one-for-five) after the rights issue.

“WCT is expected to net about RM107mil from the rights issue, which were issued at RM1.00 per share.

“By the same token, the exercise price for the new warrants is RM2.08 per share and could potentially raise a further RM500mil,” said the research house said on Monday.

AmResearch said under a minimum scenario, WCT had earlier earmarked a bulk of the RM107mil proceeds from the rights issue to repay its suppliers RM40mil and its subcontractors RM65mil.

“Specifically, these monies were to be equally apportioned to two key projects – the infrastructure works at RAPID Pengerang, and the new Ikano outlet in Jalan Cochrane.

“While this provides a short-term lift to WCT’s balance sheet, we expect WCT’s upcoming cash commitments to remain sizeable given its ongoing new property investment commitments such as the new Paradigm shopping malls in Kuala Lumpur and Johor,” it said.

AmResearch added that while the RM1.2bil landmark arbitration ruling in favour of WCT for the Meydan Racecourse project would boost its cash flow, the actual claims process could take up to a year.

It said the reported plans by the group to monetise its property investments via a REIT by end-2016 could help.

“We nevertheless believe that actual viability of such a proposal – and hence its targeted valuations – remains to be seen amid weak consumer and retail sentiments post-GST implementation.

“Above all, we reckon that WCT has to start building up its job momentum again, especially on the local front,” it said.

Year-to-date, the group has secured only one contract - the RM1.2bil Lusail Development Project, with WCT’s effective stake about RM847mil.

AmResearch estimates the group’s external order book to be RM2.8bil at the moment, local 58% and Qatar 42%.
Namotasapakawatoarahatosamasamputasa

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Re: WCT
« Reply #2 on: August 22, 2015, 11:45:34 AM »
WCT Holdings Bhd’s net profit for its second quarter ended June 30 dropped 9% to RM31.06mil from RM34.30mil in the previous corresponding period, mainly due to lower contributions from overseas projects and its property development segment.

Revenue during the quarter, meanwhile, increased to RM422.31mil from RM401.47mil a year earlier.

Basic earnings per share (EPS) was lower at 2.89 sen, compared with 3.14 sen in the previous corresponding period.

For the six-month period ended June 30, the builder-cum-property developer’s net profit dropped to RM64.27mil from RM74.40mil in the previous corresponding period, while revenue in the first half of 2015 slipped to RM773.93mil from RM868.69mil a year earlier.

In a filing with Bursa Malaysia yesterday, the company said the lower revenue was due to lower sales of properties.

Basic EPS in the first half was lower at 5.97 sen, compared with 6.82 sen previously.

WCT said its engineering and construction division had recorded a revenue and operational profit of RM586mil and RM67mil, respectively, in the first half of the year.

The company added that its property development and investment segments had registered a revenue and operational profit of RM188mil and RM45mil, respectively.

Looking ahead, WCT said with the impending implementation of the 11th Malaysia Plan and the rollout of infrastructure projects, the group is cautiously optimistic of achieving satisfactory results for its financial year ending Dec 31, 2015.
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Offline sharepower

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Re: WCT
« Reply #3 on: September 30, 2018, 09:20:35 PM »
tomorrow can start collect it before it gap up. PE 7.xx, NTA RM2.22.
WCT inks RM555 mil contract for Lendlease’s TRX project
1.77 Billion for 38 months project.
EPF keep collecting it and no sell it.
The legal case win of RM1.2b.
Price Target for Rakuten, PBB, MIDF, Kenanga are RM1 and above.

Offline jinny

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Re: WCT
« Reply #4 on: December 05, 2018, 04:45:51 PM »
Nice! Thanks!  :D :clap: :thumbsup: :cash: