السلام عليكم ..
فعلا الواحد يوم يتكلم عن الشفافية في أسواقنا فلازم يضرب بها المثل
و يوم يتكلم عن العلاقة بين المساهمين و الشركه و الحفاظ على استثماراتهم فلا يجد وصفا أقل مما يقال عنها بأنها صفر على الشمال
.. بعد البحث و التحري عن موضوع الغاء مشروع ميدان و خروج هرميس علينا بتوصياتها الذهبيه و أيضا بنك اتش اس بي سي و تقييمه للسهم ب 2.40 ..
نذهب الى بورصة ماليزيا، بعد اعلان خبر فسخ العقد بمشروع ميدان .. هبطت أسهم شركة WCT بنسبة 30% و تم تعليق التداول لحين اتضاح الامور، على هذا الرابط:
http://announcements.bursamalaysia.c…F?OpenDocument
General Announcement
Reference No WW-090106-60362
Company Name : WCT BERHAD
Stock Name : WCT
Date Announced : 06/01/2009
Type : Announcement
Subject : NAD AL SHEBA DUBAI RACECOURSE CONTRACT
Contents : Cancellation of Contract
Reference is made to the Company’s earlier announcement today pertaining to the cancellation of the Contract relating to the construction and completion of the main building works, external works and infrastructure works (“Contract”) of the Nad Al-Sheba Racecourse Project (“the Project”) by Meydan L.L.C. (“Employer”).
Background
The Contract was awarded by the Employer to the 50:50 joint venture between the Company and Arabtec Construction L.L.C. (“JV”) for a contract sum of approximately AED4.6 billion (approximately RM4.6 billion) with an original construction period of 754 days (approximately 25 months) and an original contractual Date for Completion of 7th October 2009.
Notice of Cancellation
On 29th December 2008, the Company was informed that the JV had received a notice dated 25th December 2008 from the Employer giving 14 days’ notice to cancel the Contract (“the Cancellation”). The Employer attributed the Cancellation to “non-adherence to the agreed time schedule for construction” which is strongly disputed by the JV.
Concerted efforts have been made by the Directors and the JV since receiving the notice to meet with the Employer with regards to the Cancellation.
Status
As of to-date, the JV has completed approximately 55% of the physical portion of the Works. Of the balance remaining Works, approximately 40% were works to be undertaken by Nominated Sub-Contractors and approximately 5% were works to be undertaken directly by the JV. WCT’s share of the potential loss of order book is approximately AED1.35 billion (RM1.29 billion).
Financial & Operational Impact
Subsequent to the Cancellation, the Employer called on the performance bond and advance payment bond provided by the JV, which call the JV is contesting. Should the JV fail in its contestation of the payment of bonds, the estimated net cash flow impact to the Company will be about RM178 million. The Company is of the opinion that it is able to fulfill its commitments with the issuing bank.
The above payment, when made, will result in the net gearing ratio of the Group to increase slightly to 0.57 times (currently 0.42 times). The Board is of the view that this payment on the bonds is recoverable from the Employer.
Other then the above, the Board is of the opinion that the Cancellation has no other significant financial and operational impact to the Group.
The Board views the Cancellation as a breach of contract on the part of the Employer. The Company, through the JV, is currently considering all its options and will take the necessary steps to protect the Group’s interests.
This announcement is dated 6 January 2009.
Announcement Details :
أنا اليوم دخلت على السهم ( عسى خير )
الهبوط كان عنيفا” جدا” و يمكن الارتداد يكون جيد
نكمل
WCT Plunges as $1.3 Billion Dubai Order Is Canceled
By Angus Whitley
WCT Bhd. plunged the most in almost 14 years in Kuala Lumpur trading after the Malaysian engineering company’s $1.3 billion contract to build a racetrack in Dubai was canceled.
The stock lost 30 percent to 1.29 ringgit, set for the biggest drop since at least February 1995, before being halted until 2:30 p.m. local time today. WCT and Arabtec Holding PJSC (ARTC) won the 4.6 billion-dirham ($1.3 billion) contract in September 2007 from Meydan LLC.
The horseracing track, built for the sport’s richest event, the 2010 Dubai World Cup, was designed to be the new home of the Dubai Racing Club. The contract, which Reuters said was canceled after a missed deadline, was expected to account for 37 percent of WCT’s profit this year, according to JPMorgan Chase & Co.
“This is very negative,” Jon Oh, an analyst at JPMorgan in Kuala Lumpur with an “overweight” rating on WCT, said in a report today. “This sudden cancellation has rendered much doubt and uncertainties on the business model.”
WCT, based in Shah Alam, outside Kuala Lumpur, has been targeting projects in the Gulf, and is also building a Formula One circuit in the United Arab Emirates.
The decision by Meydan, which is overseeing the development of the racecourse, is a breach of contract and WCT is “considering all its options,” the Malaysian company said today in a statement to the stock exchange in Kuala Lumpur.
Unpaid Work
Almost 60 percent of the contract is complete and the partners have been paid for 28 percent of the value of the work, according to JP Morgan’s Oh, who said he spoke to WCT management today. They haven’t been reimbursed for further work valued at 500 million ringgit ($143 million), Oh said in his report.
WCT Managing Director Taing Kim Hwa is overseas and unavailable, said his secretary. Executive Director Loh Siew Choh didn’t return messages left at his office seeking comment.
The new Nad Al Sheba racetrack was to include a luxury hotel and a 60,000-capacity grandstand, Meydan said in 2007. Growth in United Arab Emirates, the second-biggest Arab economy, may slow to 2.7 percent in 2009 and 3.5 percent in 2010, led by a slump in real estate and banking, Standard Chartered Plc said last month.
The racecourse contract’s completion date was Oct. 7, 2009, and the venture was due to be paid as work was carried out. WCT, which didn’t give a reason for the cancellation in its statement, said Meydan gave 14 days notice.
Arabtec, building the world’s tallest tower in Dubai, yesterday rose 15 percent to 2.59 dirhams in Dubai. WCT’s announcement today was made before the Dubai market opens.
بعض النقاط المهمه من المقال:
* أسهم الشركه الماليزيه هبطت بنسبة 30% بعد فسخ العقد و تم ايقاف التداول على السهم بطلب من الشركه الماليزيه
* بالرغم من انجاز أكثر من 55% من الاشغال الا أنه تم فقط دفع ما يقارب 28% للتحالف ..
* الشركه الماليزيه تعتبر أن هذا خرق للعقد من قبل شركة ميدان
على فكره تران ارابتك والشركه الماليزيه للان متعادلتان في النزول حتى اللحظه هذه واليكم الدليل:
افتتاح ارابتك بعد المنحه اي التقسيم(2.37)
الشركه الماليزيه نزول 30 بالميه…
ارابتك خلونا نحسبها
2.37 تقسيم 100 ضرب 70 يساوي:
(1.66) اغلاق اليوم…
سبحان الله منو يدري ممكن بكره لمت اب…
1- السلام عليكم أخي العزيز يوسف
2- ما شاء الله عليك وصلت لبورصة ماليزيا مرة وحدة؟
3- ليش تبحث عن الشفافية و نحن افتقدناها في أيام عز الشركات و أرباحها, هل ستحصل عليها و نحن في ازمة مالية عالمية؟
4- كل الشكر و التقدير لك
عاش خبير ارابتك…