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 :
الموضوع بسيط بس انتوا مكبرينها.
اذا كانت معظم المشاريع لجهة واحده و هذي الجهة فلست و مديونه ما قدرت تلتزم شو الحل؟
-توقف المشاريع.
-عدم الدفع.
-القانون ما بيطبق عليها.
و تم انشاء جهة خاصة لمتابعة هل مواضيع من يومين فقط.يعني ماشي محكمـة و قضايا..
أبسطها لكم أكثر..
انا عندي عقد مع شركة ميدان و تم الغاء العقد..بسير ديوان الحاكم اكتب تظلم و ينظر في الطلب…و لين ما ينظر الى الطلب. شركتي بتفلس..بالذات اذا انا عندي مشاريع كبيرة او فوق 75% من المشاريع مع نفس الجهة.
و الشركات اللي انا امسوي عقود الباطن معاهم. بيطالبون شركتي في المحاكم. بما معناه معاااناة الي أن اعلن افلاسي و افتك من كل شي و يتم تصفية الشركة و ارتاح…و خلال هل مدة ابيع قد ما اقدر من الاسهم اللي عندي.
قلت سابقا اذا هم باعوا على 20 و 15 و 10 و طلعوا يعني انتهى الموضوع.. مثل ما يقولون أنتهى الرقص و كل واحد يروح بيته.
و سلامكتم.
عدنا مجددا
Meydan revokes deal Arabtec
By Angela Giuffrida
Meydan Group, the company developing the Meydan Commercial Sports Project at Nad Al Sheba in Dubai, said it has appointed new contractors to complete the main racecourse.
It cancelled a contract with Arabtec Construction and its joint venture partner, WCT Engineering, a Malaysian firm, for not meeting the construction schedule. The joint venture was more than halfway through a Dh4.77 billion deal to build a 60,000-seat grandstand and surrounding infrastructure, which needs to be complete in time for the hosting of the Dubai World Cup in March 2010. But Meydan revoked the deal, saying the joint venture had “failed to abide by the time schedule for completion”.
“Meydan has taken this decision to reassert its resolve to complete the project on time in order to honour its international and local commitments,” the company said in a statement. The statement added that “other companies are contracted to construct the grandstand and to execute the infrastructure works so as to inaugurate the project on the targeted scheduled.” A spokesperson for Meydan was unable to name the new companies at the time of going to print.
A spokesperson for Arabtec said the company’s share of work on site was “95 per cent” complete.
The joint venture was not the first company to be awarded the contract. Laing O’Rourke was initially given the deal in early 2007. The company spent months preparing for the project and had mobilised staff and equipment on site. But the deal was later cancelled, with Arabtec and WCT Engineering being invited to take over in Sept 2007.
* المشروع سيستمر و ميدان عينت مقاولين جدد لتكملة المشروع
* أرابتك قالت أنها أنجزت 95% من حصتها في المشروع
* كان هناك عقد سابق من شركة Laing ORouke و لكنه ألغي أيضا قبل أن يؤول المشروع الى شركة أرابتك و WCT
تصحيح ..
بتاريخ 6-1-2009 و هو نفس اليوم التي هبطت به أسهم الشركه الماليزيه
أرابتك أعلى سعر 2.63 .. الى تاريخ اليوم 1.66 .. نسبة الهبوط 36%
Wct أعلى سعر 1.67 .. الى تاريخ اليوم 1.12 .. نسبة الهبوط 32%
و لو نحسبها على ال 10%
أرابتك
2.63 * 0.9 = 2.37
2.37 * 0.9 = 2.13
2.13 * 0.9 = 1.92
1.92 * 0.9 = 1.72
1.72 * 0.9 = 1.55
Wct
1.67 * 0.9 = 1.50
1.50 * 0.9 = 1.35
1.35 * 0.9 = 1.22
1.22 * 0.9 = 1.09
نكمل بعد الصلاه
نكمل …
ما هو السبب في الغاء المشروع؟!
WCT downgraded after RM4.6bil stumble
By Lee Wei Lian
Following the cancellation of WCT Bhd’s RM4.6 billion project to build the Nad Al Sheba Dubai racecourse, OSK Research has downgraded the stock to neutral despite an 18 per cent upside as “panic selling cannot be discounted”. Trading of WCT shares was suspended this morning after it plunged 54 sen to a low of RM1.29.
OSK Research estimates the earnings for the financial year 2009 to contract by 19 per cent and by 5 per cent in 2010. It also estimates a reduction in WCT’s order book replenishment from RM1.5 billion to RM0.5 billion based on expected reactions to risks associated with WCT’s reputation.
WCT was in a 50:50 joint venture with Arabtec Construction LLC (ARTC) to build the racecourse for Meydan LLC. The contract was awarded in September 2007.
“We understand that the job was experiencing a two-month delay due to the various design changes requested by the client,” says OSK Research. WCT had asked for a time extension to account for this but was turned down. If not for the alteration in design, management believes the progress of the job would have been on track. The job is scheduled for completion in October 2009.”
WCT views the cancellation as a breach of contract while the client says it was due to non-adherence to the schedule on WCT’s part.
OSK Research understands that the WCT management is seeking compensation for the cancellation of the project and also making a claim for unbilled portions of the work that has been done. Fifty per cent of the project’s value has been billed and WCT’s outstanding portion now stands at RM1 billion.
“Regardless of who is at fault, we see this as posing a risk to WCT’s reputation as its execution capability may be in question,” says OSK Research. “In our view, it would also hamper the group’s ability to secure more jobs in the Middle East region, on which it relies for projects.
“Management has highlighted that its key focus now would be to ensure the timely completion of the Abu Dhabi F1 facilities, which is likely to help mitigate the reputation risk.”
الخلاصه .. الشركه الماليزيه تقول أن شركة ميدان كانت تغير التصاميم مرات عديده و هم طلبوا تمديد فترة انجاز المشروع بسبب هذا التغيير ..
الشركه الماليزيه تعتبر الغاء العقد من قبل شركة ميدان هو اخلال بالعقد أما شركة ميدان تقول أنها ألغت العقد نتيجة التأخير في الانجاز …
نأتي الى أرابتك .. أرابتك تقول أنها تأسف ..
أحلى شي يوم أنها تأسف لو ما تأسفت تراها بتكون أكبر مشكله 
يقول المثل ولنا في الأمثال عبر:
ايش جاب لجاب…. ايش جاب الشبشب للقبقاب
ويقول المثل الآخر:
أين الثريا من الثرى … وأين المحشي من المجدرا.