Highlights
KLSE: GKENT (3204)       GEORGE KENT MALAYSIA BHD MAIN : Construction
Last Price Today's Change   Day's Range   Trading Volume
0.685   -0.02 (2.84%)  0.66 - 0.72  1,251,200
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Financials


Market Cap: 386 Million

Market Cap 386 Million
NOSH 563 Million

Latest Audited Result:  31-Jan-2020

Latest Audited Result: 31-Jan-2020
Announcement Date 30-Jun-2020
Next Audited Result: 31-Jan-2021
Est. Ann. Date: 30-Jun-2021
Est. Ann. Due Date: 30-Jul-2021

Latest Quarter:  31-Jul-2020 [#2]

Latest Quarter: 31-Jul-2020 [#2]
Announcement Date 14-Sep-2020
Next Quarter: 31-Oct-2020
Est. Ann. Date: 18-Dec-2020
Est. Ann. Due Date: 30-Dec-2020
QoQ | YoY   134.59%  |    -20.92%

Annual (Unaudited) ( EPS: 7.38, P/E: 9.28 )

Revenue | NP to SH 335,812  |  41,588
RPS | P/RPS 59.62 Cent  |  1.15
EPS | P/E | EY 7.38 Cent  |  9.28  |  10.78%
DPS | DY | Payout % 2.38 Cent  |  3.47%  |  32.29%
NAPS | P/NAPS 0.88  |  0.78
YoY   -51.03%
NP Margin | ROE 12.38%  |  8.36%
F.Y. | Ann. Date 31-Jan-2020  |  30-Apr-2020

T4Q Result ( EPS: 5.24, P/E: 13.08 )

Revenue | NP to SH 264,783  |  29,494
RPS | P/RPS 47.01 Cent  |  1.46
EPS | P/E | EY 5.24 Cent  |  13.08  |  7.64%
DPS | DY | Payout % 1.90 Cent  |  2.77%  |  36.19%
NAPS | P/NAPS 0.90  |  0.76
QoQ | YoY   -7.27%  |    -53.45%
NP Margin | ROE 11.14%  |  5.84%
F.Y. | Ann. Date 31-Jul-2020  |  14-Sep-2020

Annualized Result ( EPS: 4.43, P/E: 15.47 )

Revenue | NP to SH 218,942  |  24,934
RPS | P/RPS 38.87 Cent  |  1.76
EPS | P/E | EY 4.43 Cent  |  15.47  |  6.46%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   67.30%  |    -49.24%
NP Margin | ROE 11.39%  |  4.94%
F.Y. | Ann. Date 31-Jul-2020  |  14-Sep-2020


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Date Financial Result Financial Ratio Per Share Item Performance Valuation (End of Quarter) Valuation (Ann. Date)
F.Y. Ann. Date Quarter # Revenue PBT NP NP to SH Div Net Worth Div Payout % NP Margin ROE NOSH RPS Adj. RPS EPS Adj. EPS DPS Adj. DPS NAPS Adj. NAPS QoQ YoY EOQ Date EOQ Price EOQ P/RPS EOQ P/EPS EOQ P/NAPS EOQ EY EOQ DY ANN Date ANN Price ANN P/RPS ANN P/EPS ANN P/NAPS ANN EY ANN DY
31-Jan-2021 14-Sep-2020 31-Jul-2020 2 70,161 11,634 8,741 8,741 5,289 504,964 60.52% 12.46% 1.73% 528,980 13.26 12.46 1.70 1.55 1.00 0.94 0.9546 0.90   134.59%   -20.92% 30-Jul-2020 0.68 5.13 41.15 0.71 2.43% 1.47% 14-Sep-2020 0.73 5.50 44.18 0.76 2.26% 1.37%
31-Jan-2021 23-Jun-2020 30-Apr-2020 1 39,310 4,014 3,726 3,726 - 496,273 - % 9.48% 0.75% 531,741 7.39 6.98 0.70 0.66 0.00 0.00 0.9333 0.88   -44.96%   -72.41% 30-Apr-2020 0.685 9.27 97.76 0.73 1.02% 0.00% 23-Jun-2020 0.66 8.93 94.19 0.71 1.06% 0.00%
31-Jan-2020 30-Apr-2020 31-Jan-2020 4 82,398 10,361 6,770 6,770 - 497,239 - % 8.22% 1.36% 537,208 15.34 14.63 1.30 1.20 0.00 0.00 0.9256 0.88   -34.00%   -62.90% 31-Jan-2020 0.87 5.67 69.04 0.94 1.45% 0.00% 30-Apr-2020 0.685 4.47 54.36 0.74 1.84% 0.00%
31-Jan-2020 18-Dec-2019 31-Oct-2019 3 72,914 12,649 10,257 10,257 5,384 494,203 52.50% 14.07% 2.08% 538,465 13.54 12.94 1.90 1.82 1.00 0.96 0.9178 0.88   -7.21%   -50.10% 31-Oct-2019 1.03 7.61 54.07 1.12 1.85% 0.97% 18-Dec-2019 0.96 7.09 50.40 1.05 1.98% 1.04%
31-Jan-2020 24-Sep-2019 31-Jul-2019 2 97,721 15,750 11,054 11,054 8,079 491,488 73.09% 11.31% 2.25% 538,617 18.14 17.35 2.10 1.96 1.50 1.43 0.9125 0.87   -18.16%   -55.03% 31-Jul-2019 1.16 6.39 56.52 1.27 1.77% 1.29% 24-Sep-2019 1.04 5.73 50.68 1.14 1.97% 1.44%
31-Jan-2020 25-Jun-2019 30-Apr-2019 1 82,779 17,916 13,507 13,507 - 480,430 - % 16.32% 2.81% 538,720 15.37 14.70 2.50 2.40 0.00 0.00 0.8918 0.85   -25.98%   -37.28% 30-Apr-2019 1.26 8.20 50.25 1.41 1.99% 0.00% 25-Jun-2019 1.11 7.22 44.27 1.24 2.26% 0.00%
31-Jan-2019 25-Mar-2019 31-Jan-2019 4 114,503 36,152 18,249 18,249 19,450 500,044 106.58% 15.94% 3.65% 555,729 20.60 20.33 3.30 3.24 3.50 3.45 0.8998 0.89   -11.21%   -64.83% 31-Jan-2019 1.08 5.24 32.89 1.20 3.04% 3.24% 25-Mar-2019 1.09 5.29 33.19 1.21 3.01% 3.21%
31-Jan-2019 19-Dec-2018 31-Oct-2018 3 103,550 34,690 20,554 20,554 8,424 497,276 40.99% 19.85% 4.13% 561,641 18.44 18.38 3.70 3.65 1.50 1.50 0.8854 0.88   -16.38%   -28.33% 31-Oct-2018 1.09 5.91 29.78 1.23 3.36% 1.38% 19-Dec-2018 0.785 4.26 21.45 0.89 4.66% 1.91%
31-Jan-2019 26-Sep-2018 31-Jul-2018 2 112,933 29,876 24,580 24,580 11,237 490,244 45.72% 21.77% 5.01% 561,885 20.10 20.05 4.40 4.36 2.00 2.00 0.8725 0.87   14.14%   -3.13% 31-Jul-2018 1.43 7.11 32.69 1.64 3.06% 1.40% 26-Sep-2018 1.37 6.82 31.32 1.57 3.19% 1.46%
31-Jan-2019 12-Jun-2018 30-Apr-2018 1 99,762 25,689 21,535 21,535 - 468,414 - % 21.59% 4.60% 563,269 17.71 17.71 3.80 3.80 0.00 0.00 0.8316 0.83   -58.49%   16.43% 30-Apr-2018 3.95 22.30 103.32 4.75 0.97% 0.00% 12-Jun-2018 1.54 8.70 40.28 1.85 2.48% 0.00%
31-Jan-2018 19-Mar-2018 31-Jan-2018 4 172,912 65,574 51,884 51,884 28,163 475,793 54.28% 30.01% 10.90% 563,269 30.70 30.70 9.20 9.20 5.00 5.00 0.8447 0.84   80.92%   23.48% 30-Jan-2018 3.82 12.44 41.47 4.52 2.41% 1.31% 19-Mar-2018 4.33 14.11 47.01 5.13 2.13% 1.15%
31-Jan-2018 05-Dec-2017 31-Oct-2017 3 127,089 36,695 28,678 28,678 11,265 437,772 39.28% 22.57% 6.55% 563,269 22.56 22.56 5.10 5.10 2.00 2.00 0.7772 0.78   13.02%   20.79% 31-Oct-2017 3.24 14.36 63.64 4.17 1.57% 0.62% 05-Dec-2017 3.39 15.02 66.58 4.36 1.50% 0.59%
31-Jan-2018 28-Sep-2017 31-Jul-2017 2 187,567 33,025 25,375 25,375 14,097 424,326 55.56% 13.53% 5.98% 563,888 33.26 33.30 4.50 4.50 2.50 2.50 0.7525 0.75   37.19%   23.70% 31-Jul-2017 4.30 12.93 95.56 5.71 1.05% 0.58% 28-Sep-2017 3.05 9.17 67.78 4.05 1.48% 0.82%
31-Jan-2018 22-Jun-2017 30-Apr-2017 1 129,422 25,036 18,496 18,496 - 417,608 - % 14.29% 4.43% 375,513 34.47 22.98 4.90 3.28 0.00 0.00 1.1121 0.74   -55.98%   23.25% 28-Apr-2017 4.33 12.56 87.91 3.89 1.14% 0.00% 22-Jun-2017 3.94 11.43 79.99 3.54 1.25% 0.00%
31-Jan-2017 20-Mar-2017 31-Jan-2017 4 189,141 57,879 42,017 42,017 18,775 266,689 44.69% 22.21% 15.76% 375,513 50.37 33.58 7.50 7.46 5.00 3.33 0.7102 0.47   76.97%   113.72% 31-Jan-2017 3.03 6.02 27.08 4.27 3.69% 1.65% 20-Mar-2017 3.23 6.41 28.87 4.55 3.46% 1.55%
31-Jan-2017 05-Dec-2016 31-Oct-2016 3 122,092 29,556 23,742 23,742 7,537 359,484 31.75% 19.45% 6.60% 376,857 32.40 21.68 6.30 4.22 2.00 1.34 0.9539 0.64   15.74%   96.67% 31-Oct-2016 2.48 7.65 39.37 2.60 2.54% 0.81% 05-Dec-2016 2.80 8.64 44.44 2.94 2.25% 0.71%
31-Jan-2017 27-Sep-2016 31-Jul-2016 2 164,768 26,378 20,513 20,513 11,188 341,299 54.55% 12.45% 6.01% 372,963 44.18 29.25 5.50 3.64 3.00 1.99 0.9151 0.61   36.69%   142.10% 29-Jul-2016 2.00 4.53 36.36 2.19 2.75% 1.50% 27-Sep-2016 2.51 5.68 45.64 2.74 2.19% 1.20%
31-Jan-2017 29-Jun-2016 30-Apr-2016 1 122,964 20,285 15,007 15,007 - 333,455 - % 12.20% 4.50% 300,140 40.97 21.83 5.00 2.66 0.00 0.00 1.1110 0.59   -23.67%   52.06% 29-Apr-2016 1.71 4.17 34.20 1.54 2.92% 0.00% 29-Jun-2016 1.85 4.52 37.00 1.67 2.70% 0.00%
31-Jan-2016 29-Mar-2016 31-Jan-2016 4 265,584 27,789 19,660 19,660 10,539 258,194 53.61% 7.40% 7.61% 301,136 88.19 47.15 5.20 3.49 3.50 1.87 0.8574 0.46   62.86%   137.15% 29-Jan-2016 1.59 1.80 24.35 1.85 4.11% 2.20% 29-Mar-2016 1.80 2.04 27.57 2.10 3.63% 1.94%
31-Jan-2016 14-Dec-2015 31-Oct-2015 3 96,936 16,709 12,072 12,072 4,527 311,004 37.50% 12.45% 3.88% 301,800 32.12 17.21 4.00 2.14 1.50 0.80 1.0305 0.55   42.48%   67.02% 30-Oct-2015 1.64 5.11 41.00 1.59 2.44% 0.91% 14-Dec-2015 1.64 5.11 41.00 1.59 2.44% 0.91%
31-Jan-2016 29-Sep-2015 31-Jul-2015 2 114,661 13,033 8,473 8,473 6,052 302,637 71.43% 7.39% 2.80% 302,607 37.89 20.36 2.80 1.50 2.00 1.07 1.0001 0.54   -14.15%   38.97% 31-Jul-2015 1.51 3.99 53.93 1.51 1.85% 1.32% 29-Sep-2015 1.54 4.06 55.00 1.54 1.82% 1.30%
31-Jan-2016 30-Jun-2015 30-Apr-2015 1 59,026 13,168 9,869 9,869 - 294,365 - % 16.72% 3.35% 299,060 19.74 10.48 3.30 1.75 0.00 0.00 0.9843 0.52   19.05%   52.46% 30-Apr-2015 1.21 6.13 36.67 1.23 2.73% 0.00% 30-Jun-2015 1.28 6.49 38.79 1.30 2.58% 0.00%
31-Jan-2015 26-Mar-2015 31-Jan-2015 4 117,225 12,662 8,290 8,290 6,206 282,532 74.86% 7.07% 2.93% 295,535 39.67 20.81 2.80 1.47 2.10 1.10 0.9560 0.50   14.69%   -55.15% 30-Jan-2015 1.22 3.08 43.49 1.28 2.30% 1.72% 26-Mar-2015 1.27 3.20 45.28 1.33 2.21% 1.65%
31-Jan-2015 15-Dec-2014 31-Oct-2014 3 96,031 10,484 7,228 7,228 3,613 279,362 50.00% 7.53% 2.59% 301,166 31.89 17.05 2.40 1.28 1.20 0.64 0.9276 0.50   18.55%   2.19% 31-Oct-2014 1.45 4.55 60.42 1.56 1.66% 0.83% 15-Dec-2014 1.10 3.45 45.83 1.19 2.18% 1.09%
31-Jan-2015 17-Sep-2014 31-Jul-2014 2 75,039 8,481 6,097 6,097 6,097 281,955 100.00% 8.13% 2.16% 304,850 24.62 13.32 2.00 1.08 2.00 1.08 0.9249 0.50   -5.81%   19.20% 31-Jul-2014 1.84 7.48 92.00 1.99 1.09% 1.09% 17-Sep-2014 1.59 6.46 79.50 1.72 1.26% 1.26%
31-Jan-2015 30-Jun-2014 30-Apr-2014 1 64,863 8,705 6,473 6,473 - 246,576 - % 9.98% 2.63% 223,206 29.06 11.52 2.90 1.15 0.00 0.00 1.1047 0.44   -64.98%   16.90% 30-Apr-2014 1.69 5.82 58.28 1.53 1.72% 0.00% 30-Jun-2014 1.71 5.88 58.97 1.55 1.70% 0.00%
31-Jan-2014 27-Mar-2014 31-Jan-2014 4 266,809 24,390 18,483 18,483 9,021 225,530 48.81% 6.93% 8.20% 225,530 118.30 47.37 6.20 3.28 4.00 1.60 1.0000 0.40   161.32%   76.77% 30-Jan-2014 1.16 0.98 14.15 1.16 7.06% 3.45% 27-Mar-2014 1.21 1.02 14.76 1.21 6.77% 3.31%
31-Jan-2014 13-Dec-2013 31-Oct-2013 3 71,857 10,443 7,073 7,073 3,422 234,276 48.39% 9.84% 3.02% 228,161 31.49 12.76 3.10 1.26 1.50 0.61 1.0268 0.42   38.28%   54.57% 31-Oct-2013 1.06 3.37 34.19 1.03 2.92% 1.42% 13-Dec-2013 1.17 3.71 37.74 1.14 2.65% 1.28%
31-Jan-2014 24-Sep-2013 31-Jul-2013 2 82,945 8,374 5,115 5,115 4,447 230,708 86.96% 6.17% 2.22% 222,391 37.30 14.73 2.30 0.91 2.00 0.79 1.0374 0.41   -7.62%   -11.73% 31-Jul-2013 1.13 3.03 49.13 1.09 2.04% 1.77% 24-Sep-2013 1.14 3.06 49.57 1.10 2.02% 1.75%
31-Jan-2014 25-Jun-2013 30-Apr-2013 1 84,688 7,928 5,537 5,537 - 230,604 - % 6.54% 2.40% 221,480 38.24 15.04 2.50 0.98 0.00 0.00 1.0412 0.41   -47.04%   17.04% 30-Apr-2013 0.84 2.20 33.60 0.81 2.98% 0.00% 25-Jun-2013 0.965 2.52 38.60 0.93 2.59% 0.00%
31-Jan-2013 28-Mar-2013 31-Jan-2013 4 122,566 14,593 10,456 10,456 10,072 231,596 96.33% 8.53% 4.51% 223,829 54.76 21.76 4.60 1.86 4.50 1.79 1.0347 0.41   128.50%   48.65% 31-Jan-2013 0.92 1.68 19.69 0.89 5.08% 4.89% 28-Mar-2013 0.845 1.54 18.09 0.82 5.53% 5.33%
31-Jan-2013 10-Dec-2012 31-Oct-2012 3 57,722 6,783 4,576 4,576 - 225,276 - % 7.93% 2.03% 228,800 25.23 10.25 2.00 0.81 0.00 0.00 0.9846 0.40   -21.04%   27.61% 31-Oct-2012 0.98 3.88 49.00 1.00 2.04% 0.00% 10-Dec-2012 0.96 3.81 48.00 0.98 2.08% 0.00%
31-Jan-2013 28-Sep-2012 31-Jul-2012 2 56,787 7,696 5,795 5,795 4,459 225,235 76.95% 10.20% 2.57% 222,961 25.47 10.08 2.60 1.03 2.00 0.79 1.0102 0.40   22.49%   2.64% 31-Jul-2012 1.03 4.04 39.63 1.02 2.52% 1.94% 28-Sep-2012 1.00 3.93 38.47 0.99 2.60% 2.00%
31-Jan-2013 25-Jun-2012 30-Apr-2012 1 39,735 6,504 4,731 4,731 - 219,856 - % 11.91% 2.15% 225,285 17.64 7.05 2.10 0.84 0.00 0.00 0.9759 0.39   -32.74%   54.00% 30-Apr-2012 1.00 5.67 47.62 1.02 2.10% 0.00% 25-Jun-2012 1.03 5.84 49.05 1.06 2.04% 0.00%
31-Jan-2012 28-Mar-2012 31-Jan-2012 4 48,932 9,120 7,034 7,034 6,807 184,631 96.77% 14.38% 3.81% 226,903 21.57 8.69 3.10 1.25 3.00 1.21 0.8137 0.33   96.15%   -19.38% 31-Jan-2012 0.95 4.41 30.65 1.17 3.26% 3.16% 28-Mar-2012 0.87 4.03 28.06 1.07 3.56% 3.45%
31-Jan-2012 08-Dec-2011 31-Oct-2011 3 31,326 4,919 3,586 3,586 - 174,750 - % 11.45% 2.05% 224,124 13.98 5.56 1.60 0.64 0.00 0.00 0.7797 0.31   -36.49%   -56.31% 31-Oct-2011 0.975 6.98 60.94 1.25 1.64% 0.00% 08-Dec-2011 1.00 7.15 62.50 1.28 1.60% 0.00%
31-Jan-2012 27-Sep-2011 31-Jul-2011 2 41,350 7,315 5,646 5,646 4,516 177,148 80.00% 13.65% 3.19% 225,840 18.31 7.34 2.50 1.00 2.00 0.80 0.7844 0.31   83.79%   11.91% 29-Jul-2011 1.18 6.44 47.20 1.50 2.12% 1.69% 27-Sep-2011 1.04 5.68 41.60 1.33 2.40% 1.92%
31-Jan-2012 29-Jun-2011 30-Apr-2011 1 30,735 4,842 3,072 3,072 - 164,110 - % 10.00% 1.87% 219,428 14.01 5.46 1.40 0.55 0.00 0.00 0.7479 0.29   -64.79%   9.83% 29-Apr-2011 1.17 8.35 83.57 1.56 1.20% 0.00% 29-Jun-2011 1.15 8.21 82.14 1.54 1.22% 0.00%
31-Jan-2011 11-Mar-2011 31-Jan-2011 4 47,924 11,148 8,725 8,725 6,705 162,971 76.86% 18.21% 5.35% 223,523 21.44 8.51 3.90 1.55 3.00 1.19 0.7291 0.29   6.30%   20.46% 31-Jan-2011 1.20 5.60 30.74 1.65 3.25% 2.50% 11-Mar-2011 1.16 5.41 29.72 1.59 3.36% 2.59%
31-Jan-2011 14-Dec-2010 31-Oct-2010 3 45,722 10,652 8,208 8,208 - 158,494 - % 17.95% 5.18% 224,942 20.33 8.12 3.60 1.46 0.00 0.00 0.7046 0.28   62.70%   35.04% 29-Oct-2010 1.24 6.10 33.98 1.76 2.94% 0.00% 14-Dec-2010 1.19 5.85 32.61 1.69 3.07% 0.00%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.


NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ Δ & YoY Δ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.


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  16 people like this.
 
SHQuah Both Philip and Sslee got their points. Sslee feel 11 billions just enough to pay for 9 sub contractors and the remaining amount for Gkent and MRCB is very little. As for Philip feel that 11 billions is more than enough to pay for the whole project and the final payment and profit for Gkent and MRCB around 10% in year 2024.
16/09/2020 6:58 PM
Philip ( buy what you understand) I think sslee wants to see results before he invests in anything, which is a good thing for those who choose to invest in good companies that does constant share buybacks, pays consistent dividends, has never lost money before, has huge asset base and a order that is many multiples of the company market cap ( and also has 200 million in cash).

I on the other hand, hate to put money with companies that have a lot of cash but still does multiple rights issues, raises money but losing money on qr, and doesn't have much in clarity of revenues, earnings and order books ( but borrows a lot of money and gives free warrants).

It's a sad world today that individuals decide to put their money on loss making companies while dismissing companies that don't lose money even during mco epidemic. In any case, I have been building my positions, and the results of my stock performance over time currently is clear to see.

Let time show who is right and who is wrong. I lose nothing by waiting. Would anyone sign a loss making contract especially if they could have forced LGE to keep to the awarded contract details or pay the huge penalty?

On another note,
Philip was the one who invested in topglove, pchem ,ql yinson and added positions in March.
Sslee was the one who invested in jaks, Insas, bjland and writing commendable letters to bursa to report the directors of his investments.

I wonder... Who would know gkent better?
16/09/2020 10:27 PM
Sslee Good morning Philip,
You are the one know Gkent better but I just try to find out the facts, figures and the truth

Remember what you wrote:
{Philip ( buy what you understand) > Apr 6, 2020 2:41 PM | Report Abuse
If you look at 2017, you already the figures that were coming into Gkent from lrt3 progress claims. After it was stopped in 2018 and revised to change them into main contractor instead of PDP partner. You can see the EARNINGS drop. Meaning the difference should be coming in from LRT3 progress claims. Now those claims were not cancelled, only delayed as per revised redesign of systems.

Now that all those progress claims for work done have been submitted and received to begin in 2020(48% completion), you will begin to see more revenue and earnings resolution from lrt3.

In any case, as a PDP partner their profit was capped at 6% of the project size previously,

https://www.thestar.com.my/business/business-news/2018/08/08/mrcb-and-...

As seen here, profit margins for GKENT will be higher, but the total sum will be lower for the redesign, redesign details here:

https://themalaysianreserve.com/2018/07/17/lrt3-rationalisation-suffic...

But gkent/mrcb is required to accept bigger risk as a fixed contract supplier instead of PDP partner. So they are allowed to use better subcons( no longer BN crony company sub like IJM), but hire specialist companies ( like the one I used to work for before retiring) who can give better price and do directly instead of sub sub like a standard bumiputera company.

I believe their profit margins will be in the range of 1.2 billion or 10% of the contract, similar to standard main contractor margins.

Meaning Gkent earnings will be around 50% of the JV, 600 million divided by 5 years, with a safer number similar to pre-najib lrt3 fees of 60-80 million a year.

Of course with PDP structure Kent took zero risk, as their fees were based on contract value. With new structure more risk, direct control as main con, better profit margins.

And if you believe that gkent used to be valued at rm4 reflecting the results? Knowing that lrt3 is still continuing and full payment guaranteed by federal government?}

So I am looking forward to:
1. Progress claims for work done have been submitted and received to begin in 2020(48% completion), you will begin to see more revenue and earnings resolution from lrt3.
2. Gkent earnings will be around 50% of the JV, 600 million divided by 5 years, with a safer number similar to pre-najib lrt3 fees of 60-80 million a year.

Thank you
17/09/2020 7:20 AM
Philip ( buy what you understand) Sadly I think you already couldn't justify not buying gkent at 40+, pchem at 4.20+, topglove at 5+ and still holding cash waiting for another crash. So it's better to just let earnings results show you the share price performance, and not waste time showing you data shared by gkent staff in my telegram group. You would still require more and more information anyway that will not be revealed. Good luck on your investments.
17/09/2020 8:45 AM
neohts Philip.....you have data shared by Gkent staff in you telegram group. Please share with us if there is any good and bad news before official announcement.....Thanks.
17/09/2020 8:54 AM
Sslee Thank you very much Philip, I really need a lot of good luck in my investment to compensate for my lack of competent. But anyhow I am learning.
17/09/2020 8:57 AM
SHQuah Philip and Sslee..... thank you for all ty update. Can you all share with us the company that you recently bought or today just invested. The reason of investing in this company ? Maybe I could follow your investment plans.
17/09/2020 10:01 AM
Sslee Dear SHQuah,
I am still working full time and consider myself a beginner in investment. Since I am still drawing a good salary monthly hence I can afford to take a bigger risk.

Recently I sold all my TAGB, TAE and bought some Armada base on IB report:
https://klse.i3investor.com/ptservlet.jsp?sa=pts&q=armada

Ewint because I like what warchest wrote
https://klse.i3investor.com/blogs/TimelessInvestment/blidx.jsp

And Top up Tunepro:
https://www.insage.com.my/Upload/Docs/TUNEPRO/Minutes%20of%209th%20AGM.pdf#view=Full

But please forewarn CharlesT has this to say about me:
U r the only person so far i met in I3 who invested in share mkt not to make money but to fight with the co management... I guess u hv too much of money n time.

And Master Philip:
Still holding cash waiting for another crash. So it's better to just let earnings results show you the share price performance, and not waste time showing you data shared by gkent staff in my telegram group. You would still require more and more information anyway that will not be revealed. Good luck on your investments
17/09/2020 11:05 AM
neohts I like Ewint and Tunepro. their financial result quite good. As for contra play I will go for Armada.
17/09/2020 11:34 AM
SHQuah Sslee... thanks for sharing. I will try Armada for some buy & sell & buy play. Hopefully can make some money many times.
17/09/2020 11:43 AM
SHQuah Every year I am using my Gkent dividend money to buy more Gkent. There's why I am having more and more Gkent share as I never sell any.
17/09/2020 3:12 PM
GrahamNewman i think investing base on IB reports or somebody else's opinion is not wise at all. You will not know why you buy it and absolutely no idea when to sell. You got to think for yourself.

It's thinking rather than polling that determines your success in investing.
It's what Bertrand Russel said: "Most people would rather die than think, many do."

It's the objective of IB to make investing sounds easy, its like selling real physical products, sometimes you wonder their ads is selling a physical product or really an independant evaluation.


Because let's face it, most investors want other people to tell what to do, because making decision by oneself is not part of our evolutionary trait, and it consumes too much of our brain power to think independently. People likes the comfort of being in a group, that's why you have groups in Whatsapp, companies(group of people working together), house(people live together). I don't mean being in a group is bad, it has a lot of utility and is essential to human living, but "investing in a group" is an oxymoron.

"Consumers" of IB reports want a simple buy or no buy recommend, and they supply it. Once you get the "first impression" from the report, its very hard to detach from it, that's why people always say first impression is very important. It's human nature to weigh first impression heavily. If you really think IB reports are useful, you can dispense the effort to even read the report and just hand them the money. You get to relax and not think while they work the money for you.

And about the MRCB GKENT JV, yes it is equity accounting, no cashflow except dividend is coming in to GKENT. But does this accounting gimmickry paint the real picture? Let's say you own a business earning 100k a year, and reinvest every earnings @ 10% returns, back into it without paying you, the business owner, a single dollar, do you think your business is worthless?

As for PDP to turnkey contractor, people say risk is higher, but which risk higher? financing risk? execution risk?

As for construction project price, i'm not expert in the construction industry but having renovated my house recently(which at the end comes at 10% more than quoted price), i don't think the agreed price is fixed in eternity. I mean if a contractor can't even estimate exactly my house renovation price down to the hundreds, who can have 100% confidence the estimated price of a project as big as LRT 3 is fixed at the 11B price tag? I mean construction industry is the most complex work of any kind and any precise calculation is an illusion.

Even if the contract price is fixed, i remember our current transport minister once commented on TV about the ECRL project that, even though ECRL publicly announced cost is 44B, there is another contingent reserve set aside for excess cost which will be paid out when the need arise. This contingent cost reserve is not announced publicly. That is why I am not too worried about margin compression in the JV.

As i have said earlier, what the management IS doing is as important as what they are NOT doing. And I have not seen any detracting actions by GKENT management to derail itself from being successful.
17/09/2020 3:16 PM
neohts GrahamNewman.......what the management IS doing is as important as what they are NOT doing. And I have not seen any detracting actions by GKENT management to derail itself from being successful.

I like this sentence. Thanks.
17/09/2020 3:41 PM
SHQuah If a person invest in stock market, every day cannot sleep and cannot eat, then you better don't play, because you are not suitable to invest in stock market. If you invest in Gkent at current price, you can sleep well and eat well because Gkent every year making profit and providing good dividend. Company for sure 100% won't close shop.
17/09/2020 10:49 PM
Sslee Good morning SHQuah,
You have a very good attitude about investment and life. Just be yourself and be happy.

Don’t take my comments in Gkent seriously as I just trying to find faults with my UM senior Philip.

You can read his blog to know his investment thinking.
https://klse.i3investor.com/servlets/cube/blog/10154899906070843.jsp
18/09/2020 9:15 AM
Philip ( buy what you understand) Sslee is always unhappy. When gkent does share buybacks, he complains and says he wants dividends. When he gets dividends he complains and says he wants to see earnings and revenues. I still recall when I first started posting my thoughts he says I am imaginary and fake investor and all sorts of words coming out. Today we know who is the real investor and the fake investor and how overpriced QL performed versus insas and friends.

I invest in people I know, things I know and businesses I understand. I will leave it at that.
18/09/2020 9:26 AM
Philip ( buy what you understand) The same cannot be said of companies like Jaks and insas, every year the share price drops, rcps and right issue comes out and other people prosper.... Sigh.

>>>>>>>>

SHQuah Every year I am using my Gkent dividend money to buy more Gkent. There's why I am having more and more Gkent share as I never sell any.
17/09/2020 3:12 PM
18/09/2020 9:27 AM
Sslee Haha no offense taken. Just like to be trouble maker and question everything.
18/09/2020 10:33 AM
gkent2000 Walao... faster get up le Gkent,
i so support u but your price making me sad le.
Haizzzzz
18/09/2020 4:41 PM
BatteriesNotIncluded O&G Recovery - Serba Dinamik - 40 to 50% Upside Hidden Gem
https://klse.i3investor.com/blogs/ndcg/2020-08-28-story-h1511677632-Serba_Dinamik_40_Upside_Hidden_Gem.jsp
22/09/2020 1:06 PM
neohts George Kent.......buy now and next year you will be rewarded. A very good company.
24/09/2020 11:26 AM
SHQuah 22 October dividend. Will use the dividend money to accumulate more. Cash rich company.
24/09/2020 12:36 PM
neohts Bandar Malaysia projects require a lot of Smart water Meter from Gkent.
28/09/2020 11:28 AM
neohts https://www.thestar.com.my/business/business-news/2020/10/05/time-to-accumulate-construction-stocks

Time to accumulate construction stocks
05/10/2020 3:09 PM
Edttk76 Finally :)
06/10/2020 1:08 AM
SHQuah Finally share buy back.
06/10/2020 7:12 AM
Begineer good
06/10/2020 9:56 PM
SHQuah 3 days continue share buy back.
07/10/2020 5:47 PM
maxxtiew Hey bro, I've bought long time ago at 1.25, is it the right time to buy more and average down the costs?
08/10/2020 8:18 AM
neohts yes.....buy more to average down. Current price good support level. Expect next year getting better dividend. Operation back to normal.
08/10/2020 9:36 AM
SHQuah Maxxtiew... don't worry. Just buy and keep for long term.
08/10/2020 10:05 AM
Sslee Philip cost is 0.688. Anything below this cost is safe.
08/10/2020 10:08 AM
Devilsadvocatee How is CMCO affecting lrt 3 sites? Can work?
08/10/2020 1:53 PM
SHQuah Share buy back again. Meaning company cash rich and expect coming Quarterly results quite good.
08/10/2020 5:31 PM
neohts https://www.thestar.com.my/business/business-news/2020/10/09/six-mega-projects-may-be-rolled-over-into-budget-2021

Six mega projects may be rolled over into Budget 2021
09/10/2020 4:34 PM
AnaiAnai last time I came here on 31aug price was 77sen. now only 67sen. Company buy back 20k or 30k per day. why the company cannot one shot buy 100k 200k to show the company is undervalue kah.
11/10/2020 10:46 AM
AnaiAnai agree with your comment. Buy lower better safety margin than philip. and can sell before philip sell. 100% safest bet.


Posted by Sslee > Oct 8, 2020 10:08 AM | Report Abuse

Philip cost is 0.688. Anything below this cost is safe.
11/10/2020 10:48 AM
neohts Interim Single-tier dividend....Will use the dividend money to accumulate more.
Date Payable : 22 Oct 2020
12/10/2020 3:18 PM
mf anwar go to istana tomorrow
12/10/2020 3:19 PM
jojo85 Tomolo fly hopefully..
15/10/2020 8:15 PM
Begineer why fly tomorrow?
15/10/2020 8:30 PM
Devilsadvocatee "On the tendering front, GKent recently submitted a tender for the Layang 2 raw water transfer project (c.RM120m). Additionally, we understand GKent has submitted pre-qualification tenders for multiple hospital projects (design and build basis) whereby some have been retendered from last year. Besides these, GKent is setting its sights on the KVDT2 (Dhaya Maju LTAT terminated as turnkey) once tenders are called. In our view, tender outcome for these projects could be further delayed due to Covid-19 resurgence."

This kinda assuage the common doubt that Gkent is a pure political company to have bagged those construction project, esp the mega ones. It might have at one point but now it has experience and track record to back it up. Esp on LRT 3 as a turnkey contractor. Once lrt 3 is done and dusted, it will be unquestionable regarding their capability.
16/10/2020 10:13 AM
neohts Devilsadvocatee.......where do you get the information.
Philip......do you have any knowledge ?
16/10/2020 1:53 PM
Devilsadvocatee @neohts https://klse.i3investor.com/servlets/ptres/57196.jsp
16/10/2020 2:18 PM
SHQuah Even with just water meter, Gkent can still make profit. Gkent can never turn red. Just more or less profit.
16/10/2020 5:41 PM
ming Slowly collect till budget announce
19/10/2020 12:36 AM
winner168 Something is fishy, with few analysts giving a Sell rating with TP @ 0.55, Insiders are buying back the shares...
21/10/2020 2:05 PM
pushparaj winner168, I do feel the same. The IB's are advising to sell.But company buy back at a higher price
21/10/2020 6:36 PM
neohts I got my dividend yesterday.
23/10/2020 4:24 PM
SHQuah With so many shares buy back, yet still got so many sellers ? No team work, no cooperation. If everyone could hold, share price sure can go up. For those who has no plans to hold for long term, please don't buy.
23/10/2020 7:11 PM