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 :
يوسفيتش …. الظاهر من الاخبار السلبية اللى تحطها تأثر بها سوق العلوج اليوم و فاتح على نزول فوق 200 نقطة …..
اليوم لازم نديها تنس مع الكنج بعد صلاة العشاء
صدقني الموت السريع أفضل من الموت البطيء ..
خلنا نصل الى الصفر و من بعدها لن نبحث عن القاع لأنه لا يوجد قاع بعد الصفر ..
نخيل تعلق الأشغال في “برج نخيل” لسنة قادمة بسبب اضطرابات السوق العقاري جراء الأزمة العالمية
أرقام 14/01/2009
نقلت مصادر إعلامية أنّه قد تم تعليق الأشغال في مشروع “برج نخيل”، الذي تطوره شركة نخيل العقارية ليكون أطول برج في العالم، لمدة سنة قادمة بسبب الاضطرابات في السوق العقاري.
وقال متحدث عن شركة نخيل إنّ مزيدا من الأشغال في البنى التحتية والأساسات للبرج ستنطلق بعد 12 شهرا لتكتمل بعد ذلك بثلاث سنوات على الأرجح، بحسب ما نقلت صحيفة ذي ناشيونال.
وقال أحد مدراء المشاريع أنّه تم تسريح العديد من الموظفين العاملين في المشروع لأن الأشغال قد توقفت فيه إلى إشعار قادم.
يُشار إلى أنّ نخيل سرحت في وقت ماض عددا يعادل 15% من موظفيها، كما قامت بذلك العديد من الشركات العقارية في الإمارات مثل شركة “الدار ليانج” المملوكة مناصفة بين شركة الدار العقارية وشركة الإنشاءات البريطانية “ليانج” التي سرحت 200 موظف مؤخرا.
وكانت نخيل العقارية، إحدى كبرى شركات التطوير العقاري في إمارة دبي والتابعة لحكومة دبي، أطلقت مشروع برج نخيل في معرض سيتي سكيب دبي في أكتوبر الماضي، ليكون أطول برج في العالم باكتماله بعد حوالي 10 سنوات بطول يضاهي الكيلومتر، ويشمل 200 طابق و150 مصعدا ومحاط بنحو 40 بناية من 20 إلى 90 طابقا وعلى مساحة 270 هكتار بالقرب من ابن بطوطة مول ومشروع قناة العرب، بتكلفة تبلغ 140 مليار درهم.
ويأتي تعليق الأشغال في برج نخيل بعد سلسلة من التأخيرات في مشاريع أخرى للشركة كمثل برج وفندق ترامب إنترناشيونال ومشروع نخلة ديرة وأجزاء من مشروع الواجهة البحرية بالإضافة إلى مشاريع أخرى.
وبسبب تأثيرات الأزمة المالية العالمية وشح السيولة والتمويل العقاري من جهة وعزوف المستثمرين على شراء الوحدات العقارية من جهة أخرى توجهت شركات التطوير العقاري في دبي إلى مراجعة العديد من مشاريعها.
هذا وكانت شركة كوليرز إنترناشيونال، المتخصصة في الاستشارات العقارية، قالت في تقرير لها نشرته مؤخرا إنّ أسعار المنازل في دبي تراجعت بنسبة 8% ما بين شهري أكتوبر وديسمبر 2008، بسبب شح السيولة والتمويل العقاري وتراجع الثقة لدى المستثمرين.
الله يهديك يوسف شوي شوي علينا.
Arabtec chasing payment for former racecourse deal
by Tom Arnold
on Tuesday, 27 January 2009
CASH OUTSTANDING: Arabec has disclosed that it is still awaiting payment from racecourse developer Meydan Group. (Artist Impression)Arabtec Holding, the UAE’s largest general contractor, said on Tuesday it was chasing payments relating to its terminated contract to build Dubai’s new racecourse.
Arabtec chairman Riad Kamal said the firm was pursuing its “financial rights” but refused to disclose how much it was owed from the cancelled contract to build Nad Al Sheba racecourse.
Government-owned master developer Meydan Group terminated a 4.6 billion dirhams ($1.25 billion) joint contract with the Dubai-based firm and Malaysia’s WCT Bhd earlier this month, blaming delays to delivery of the scheme ahead of its scheduled opening for the Dubai World Cup horse race in 2010.
Arabtec’s share of the contract was believed to be worth 2.4 billion dirhams ($650 million).
Meydan chairman Saeed H al-Tayer told Arabian Business days after the termination that it had already paid both contractors up to date for the value of the contract completed.
But in an interview on Tuesday, Kamal said the firm was still claiming payments relating to the deal, without being more specific, but added it was not pursuing legal action.
“We will be chasing our financial rights,” he said. “Everything that is in our contract will be pursued. It’s not a question of lawyers, there are mechanisms in the contract and we’re going through these mechanisms in accordance with our contract.”
Investment bank Beltone Financial has previously estimated that although the deal only accounted for around five percent of Arabtec’s backlog, up to a further 130 million dirhams was be incurred by the contractor over potential demobilisation costs and unpaid completed works.
In addition, Beltone said rumours pointed to the cashing out of a 230.5 million dirham performance bond by Meydan.
Drawn up between contractors and developers at the commencement of a project, the bond guarantees a developer compensation if the project contract is breached.
It said Arabtec’s net income in 2009 could be halved to 505 million dirhams following the termination of its contract.
WCT Bhd had reportedly been poised to claim $84 million in compensation after the termination.
Despite the cancellation of the contract and a deceleration in new projects starting in the UAE, Kamal said the firm was yet to make any job cuts other than the “normal” practice of laying off workers after projects were completed as per their contracts.
“We have laid people off who have no continuous employment after certain projects are finished and we’ve employed people where spots are vacant,” he said.
He confirmed the firm was in the running for the Burj Al Alam project in Dubai and was at the estimation stage of “quite a lot” of projects in Dubai, Abu Dhabi, Saudi Arabia and Doha.
But he said: “Clients are hesitant about taking decisions on projects.
“There are quite a lot of inquiries, whether it is a slowdown or not is difficult to say but whether the decision is to go along with them or not only time will show.”
He could not give a figure for the valuation of Arabtec’s current order book.
No one was immediately available to comment from Meydan.