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[公司专区] 5205 SENDAI 艾華仙台

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发表于 2013-3-6 01:32 | 显示全部楼层
依文仙台獲8730萬合約
大馬 即時大馬財經  2013-03-05 16:09


(吉隆坡5日訊)依文仙台(SENDAI,5205,主板建筑組)獲得阿塞拜疆(Azerbaijan)總值2千850萬美元(約8千730萬令吉)合約,以為新月市(Crescent City)樓高41層的辦公大樓工程提供、製造和建造結構鋼鐵工作。
該公司發文告指出,相關工作預計在2014年8月竣工,料對2013和2014財政年盈利帶來正面貢獻。(星洲網)

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发表于 2013-3-6 09:13 | 显示全部楼层
Eversendai expects to win more projects in Azerbaijan

KUALA LUMPUR: Structural steel turnkey and power plant contractor Eversendai Corp says it is likely to win three more projects in Azerbaijan, which will also mark its foray into the Commonwealth of Independent States (CIS).

This is hot on the heels of the US$28.5 million (RM88.3 million) Crescent City project in Baku that it secured on Monday.

It has already placed a bid for one of the projects, said executive chairman Datuk AK Nathan.

Azerbaijan will enable Eversendai to gain entry into the CIS markets where opportunities in the oil and gas sector abound.

"With our strong presence in the Middle East, Azerbaijan fits in well ... we have to keep expanding our business in new markets for the company to enjoy organic growth," he said.

He was speaking after a signing ceremony with Standard Chartered Bank for its first Islamic debt securities.

http://www.btimes.com.my/Current ... cles/rup53/Article/

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发表于 2013-3-6 09:21 | 显示全部楼层
Eversendai eyeing three more contracts in Azerbaijan
http://biz.thestar.com.my/news/s ... 24&sec=business

March 6, 2013

PETALING JAYA: Hot on the heels of its multi-million-ringgit structural steelworks contract secured in Azerbaijan recently, Eversendai Corp Bhd is targeting to secure three more work contracts in the country.

“We are well-positioned to win the other three contracts, which we can see immediately, and this is a stepping stone for us to expand into the regional Commonwealth of Independent States or CIS market,” said executive chairman and group managing director Datuk A K Nathan.

On Monday, the construction and structural steel fabricator bagged RM87.3mil worth of works from Gilan Holding LLC, the developer of the Crescent City project in Baku, Azerbaijan’s capital city.

At the signing ceremony between Eversendai and Standard Chartered Saadiq Bhd yesterday, the company’s first Islamic medium-term note programme worth RM500mil with a tenure of up to seven years from its first issuance was announced. The first tranche of RM250mil with a five-year tenure will be issued on March 11.

Standard Chartered Saadiq is the principal adviser, sole lead arranger and lead manager for the sukuk programme.

Nathan said the funds raised would be utilised for its growth expansion in the Asean and Middle East regions, as well as its recent penetration into the oil and gas (O&G) sector.

Earlier in the year, the company bought a further 21.19 million shares to raise its stake in Singapore-listed Technics Oil & Gas Ltd to 20.1%, in a bid to secure a stronger footing in the regional O&G fabrication sector.

“The biggest portion of the money raised will be used to boost our overall cashflow. We have borrowed a lot of cash from banks at an interest rate that is much higher, and with the fixed lower interest rate now, it would help our bottomline and the improvement would be reflected in our profits,” he explained.

He added that apart from this, the company would also be using the money for organic growth as well as specific mergers and acquisitions that it is looking out for.

“To achieve our RM2bil turnover target by 2017, we have to put in money to make money. We will invest wisely, and use the funds for capital expenditure too. I will not be surprised if we can achieve the RM2bil before the 2017 target,” he said.

Standard Chartered Bank Malaysia origination and client coverage managing director Saif Malik said the issuance had received strong investor support, with its first tranche being oversubscribed by two times at a coupon rate of 4.7%.

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发表于 2013-3-6 09:52 | 显示全部楼层
艾华仙放眼阿塞拜疆另3项合约
財经 2013年3月5日

(吉隆坡5日讯)隨著艾华仙台(SENDAI,5205,主板建筑股)拿下阿塞拜疆一项总值2850万令吉(约8730万令吉)的合约,该公司乐观看待独立国家联合体(CIS)的商机,並將持续寻求扩大在当地的业务。

该公司週一宣佈,旗下迪拜艾华仙台工程公司获颁发位於阿塞拜疆首都巴库(Baku)新月城(Crescent City)计划的一项钢铁架构工程合约。

艾华仙台董事经理拿督AK纳登披露,新月城计划还有其余3项工程有待颁发,而该公司相信本身有中標的潜能。

同时,该公司也会持续寻求在独立国家联合体进行区域扩充活动。

「在3项工程中,我们正著手竞標其中1项。」他补充:「钢铁架构是我们的核心业务,我们正在以本身的强项进军一个新国家,从而寻求增加我们的营业额和盈利。」

纳登重申对其在2017年取得20亿令吉营业额的目標深具信心,並笑言:「若我们提早达標,我不会感到惊奇。

当我们召开年度会议检討长期计划时,我確实觉得我们有望提早达標。」

针对1.10令吉股价表现不尽人意,目前的股价水平比当初1.70令吉上市价格低出35%,纳登也深表无奈与不解,並对一些被迫售股止损的投资者感到遗憾,但他目前已决定以专注发展公司业务为首要事项,以期改善股价表现。

纳登是在出席与標准渣打伊斯兰银行(Standard Chartered Saadiq)针对伊斯兰债券计划的合约签署仪式后,向媒体如此表示,共同出席者包括艾华仙台首席营运员罗汉拉兹、大马標准渣打银行企业与金融客户部董事经理赛夫马立和標准渣打伊斯兰银行首席执行员兼消费者银行全球主管瓦辛赛菲。

艾华仙台將在3月11日发售其规模达5亿令吉的伊斯兰债券计划的首部份债券,总值2亿5000万令吉,利率水平为4.7%,並已获得约2倍的超额认购。標准渣打伊斯兰银行是此计划的主理银行。

纳登表示,艾华仙台將把所筹得资金用以改善现金流,包括偿还利率更高的银行贷款,以及用作业务扩充所需的內部成长和併购成本,同事也將有部分资金作资本开销用途。

询及伊斯兰债券的前景,瓦辛赛菲表示,该金融產品料將在今年交出与去年同样亮眼的表现。

他补充,在森那美(SIME,4197,主板贸服股)等財团的巨型债券发售计划下,今年的伊斯兰债券市场拥有一个良好开局,因此前景持续看俏。

http://www.orientaldaily.com.my/ ... 69:3&Itemid=198

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发表于 2013-3-11 22:22 | 显示全部楼层
艾华仙台设联营公司扩展油气业务
財经 2013年3月11日
   

(吉隆坡11日讯)艾华仙台(SENDAI,5205,主板建筑股)成立联营公司,以扩大在油气领域的足跡。

艾华仙台与新加坡上市的特艺石油能源(TechnicsOil & Gas Limited)以及艾华仙台的独资子公司--Eversendai Construction(新加坡)私人有限公司(ECSPL)进行股东协议,成立联营公司--Eversendai Technics私人有限公司。        

艾华仙台,特艺石油能源以及ECSPL,分別持有该联营公司的69.9999%,30%以及0.0001%股权。

艾华仙台和ECSPL的参股成本70万新元,將透过內部融资支付。

通过上述股东协议,有关公司將为建设和运营製造厂房,以及工程设施,寻求在阿联酋(UAE)收购一块土地。

发2.5亿伊斯兰票据

同时,艾华仙台今日发出第一批2亿5000万令吉伊斯兰商业票据(MCP)/中期票据(MTN)。大马评估机构(RAM)给予这批5年期的中期票据「AA3」的评级。

这批中期票据筹得的款项將用作营运资本和或一般企业用途。

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发表于 2013-3-12 09:17 | 显示全部楼层
Eversendai forms JV to bid for Middle-East O&G projects

KUALA LUMPUR: Eversendai Corp Bhd (ECB) has formed a joint-venture (JV) company, Eversendai Technics Pte Ltd, with Technics Oil & Gas Ltd and Eversendai Construction (S) Pte Ltd (ECSPL).

ECSPL is a wholly-owned subsidiary of ECB, an internationally recognised and established structural steel turnkey and power plant contractor.

In a statement yesterday, ECB said the purpose of the JV company is to meet the growing demand for engineering, procurement, construction and fabrication services for the oil and gas (O&G) industry.

Under the JV, Eversendai Technics shall have an initial issued and paid-up capital of S$1mil divided into one million ordinary shares. The equity participation by ECB, Technics and ECSPL is 69.9999%, 30% and 0.0001% respectively.

The cost of equity participation by ECB and ECSPL in the JV of S$700,000 will be satisfied in cash from internally generated funds. The JV will be managed by a board of directors consisting of four directors, of which three shall be nominees of ECB, and one nominee of Technics.

The JV aims to bid for projects in the O&G industry, which includes without limitation detailed engineering design, construction fabrication, building and upgrading of rigs, vessels, jackets, topsides, processing modules and other O&G facilities, mainly in the Middle East.

Pursuant to the shareholders’ agreement, parties will explore acquiring a plot of land in the United Arab Emirates for the purpose of constructing and operating a fabrication plant and facilities for offshore and onshore works.

“Eversendai Technics was created to leverage on Technics’ and our joint established track records. We look forward to building a stronger market presence in the O&G fabrication sector in this region, as well as in those where we are already well-known for our structural steel works,” said Eversendai group executive chairman and group managing director Datuk A.K. Nathan.

He said the strategic partnership will enable Eversendai to secure a stronger foothold in the O&G fabrication sector, which is in line with its business plan to venture into inter-related sectors. – Bernama

http://biz.thestar.com.my/news/s ... 24&sec=business

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发表于 2013-3-12 17:28 | 显示全部楼层
依文仙台組聯營公司競標油氣工程
大馬  2013-03-12 10:52


(吉隆坡12日訊)依文仙台(SENDAI,5205,主板建筑組)與Technic石油與天然氣有限公司組成聯營公司——依文仙台Technics私人有限公司來競標石油與天然氣領域工程,以趕上油氣領域對設計、採購、建築和製造等服務的火熱需求。
依文仙台發文告表示,相關聯營公司意在競標中東油氣領域合約,並不受限於工程設計、製造、鑽井興建和設備提昇、船艦等,而雙方也將探討在阿拉伯聯合酋長國收購一塊地皮來興建岸內和岸外設施製造廠。
依文仙台與依文仙台(新加坡)將透過70萬新元內部資金,持有聯營公司的69.9999%和0.0001%,其餘30%則歸Technic石油與天然氣有限公司所有。

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发表于 2013-3-16 08:23 | 显示全部楼层
Eversendai sells 51% stake in Vahana

KUALA LUMPUR: Eversendai Corp Bhd has entered into a share sale and purchase agreement to dispose of its 51% shareholding in Vahana Constructions Sdn Bhd for RM510,000 cash to three parties.

In a filing with Bursa Malaysia yesterday, Eversendai said its 51% shareholding in Vahana comprised 510,000 ordinary shares. It would dispose of 310,000 ordinary shares in Vahana at RM1 each to Datuk David Rashid Ghazalli for RM310,000. It would also sell to Datuk Muthukumar Ayarpadde 100,000 ordinary shares in Vahana for RM100,000, and lastly, it would sell 100,000 shares in Vahana to Nigel Graeme Robson for RM100,000.

Upon completion of the proposed disposal, Vahana would cease to be a wholly-owned subsidiary of Eversendai and be an associate company instead.

On its rationale for the disposal, Eversendai said it was capitalising on the proposed shareholders' combined background, track record and expertise. The proposed disposal, meanwhile, is expected to further enhance Vahana's prospects in securing jobs both within and outside Malaysia.

http://biz.thestar.com.my/news/s ... 08&sec=business

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发表于 2013-3-20 12:00 | 显示全部楼层

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发表于 2013-3-20 16:16 | 显示全部楼层
SHARE SALE AND PURCHASE AGREEMENT ENTERED BETWEEN EVERSENDAI CORPORATION BERHAD("ECB" OR THE "COMPANY") AND DATUK DAVID RASHID BIN GHAZALLI AND DATO'MUTHUKUMAR A/L AYARPADDE AND NIGEL GRAEME ROBSONYou are advised to read the full contents of the announcement or attachment

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发表于 2013-3-29 22:33 | 显示全部楼层
本帖最后由 printmy 于 2013-3-30 22:52 编辑

逾1年新高水平 依華仙台漲6%
財經股市29 Mar 2013 20:35


 (吉隆坡29日訊)依華仙台(SENDAI,5205,主要板建築)前景佳,獲投資者追捧,股項今日勁揚6%,為去年2月以來最高漲幅。

 今早開市時,依華仙台僅微揚1仙,掛1.11令吉,過后該股逆市唱好,股價如建高樓般步步高升,早盤最高起11仙至1.21令吉,休市時收窄至起8仙,掛1.18令吉,成交量571萬5800股;閉市時,依華仙台揚勢仍唱好,起7仙,掛1.17令吉,成交量731萬3500股。

 依華仙台在2011年7月以每股1.70令吉上市,今日起7仙或6.36%為去年2月起8.1%或13仙以來股價最高增幅。

 該公司執行主席兼董事經理拿督AK納丹早前接受媒體訪問時指出,石油與天然氣、石油化工業前景走俏,預計今年內將再獲總值18億令吉合約。

 依華仙台去年全年共獲總值17億6000萬令吉訂單,今年至目前則握有16億令吉合約

 AK納丹亦透露,公司考慮在西亞設立聯營公司,進軍新市場;多項進行中工程有助公司在2017年達到20億令吉營業額的目標。

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发表于 2013-3-30 22:51 | 显示全部楼层
低迷兩年‧依文仙台一度漲10%
熱股評析  2013-03-30 15:30


(吉隆坡30日訊)股價過去兩年來低迷不振的依文仙台(SENDAI,5205,主板建筑組)週五迎來反彈,一度漲11仙或10%至1令吉21仙,刷新兩個月新高。
該股以1令吉11仙高開,過後在買盤帶領下逐漸上沖,盤中最高上探1令吉21仙全天最高,此後因套利賣壓而回挫,閉市收盤掛1令吉17仙,漲7仙或6.36%,成交量731萬3千500股。

在2011年7月上市的依文仙台,是結構鋼鐵工程領域專家,旗下客戶主要來自中東市場,該公司不久前連同本地財團競獲曼絨賓發電廠合約,同時有意參與其他本地大型發展計劃,近期還籌備進軍油氣市場。

依文仙台當初上市價訂在1令吉70仙,雖然近年財務表現穩定,股價卻頻頻下跌,由於馬股小型股近期出現反彈,依文仙台也重新為投資者留意而迎來漲勢。(星洲日報/財經)

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发表于 2013-4-6 09:27 | 显示全部楼层
Eversendai to venture into O&G sector

HAVING graduated from the school of hard knocks, Datuk AK Nathan enjoys the simple things in life like tending to his pond of Japanese koi.

It's a pleasant distraction to running a growing business that he has built from scratch since the 1980s. As executive chairman and group managing director of Eversendai Corp Bhd, he is set to venture into the oil and gas sector, in search of opportunities arising from the construction of more steel structures in that booming industry.

“We foresee the expansion and to grow the oil and gas business in a big way. Once we have our key people on board in the joint venture vehicle between us and Technics, things will take off by June,” Nathan tells StarBizWeek recently, after jetting back from the Middle East.

On the surface, the group might seem to be making a foray into fresh grounds. Nathan disagrees, saying oil and gas is very much integral to its core operations. The only thing it lacks is a track record.

“That is the reason why we bought into Technics Oil & Gas Ltd, and both of us complement each other. We have a strong reputation in the Middle East, while Technics has the track record and technology for the setting up of process and satellite modules for the oil and gas industry,” he says.

The focus, he says, is going to be on what the group knows best, which is to fabricate modules, structures and mechanical work for clients.

In end of January, the company raised its stake in Technics to 20.1% and subsequently formed a 70:30 joint venture company, Eversendai Technics Pte Ltd. with Eversendai having a majority in the company, to focus on oil and gas works from the Middle East.

“We are already getting some enquiries and it has been encouraging. For now, we are doing some groundwork and submitting some bids. I can't specifically reveal the project names we are tendering but suffice to say we are bidding for projects onshore and offshore, and are working with engineering, procurement and construction (EPC) contractors who already have work on hand,” he says.

He added that his son Narish, who has been in the business for nine years, will be leading the charge for the company's maiden foray into oil and gas. Narish will be flanked by key personnel both from Eversendai and Technics.

Currently, about 75% of the group's revenue comes from the Middle East, while India contributes about 15%, and Malaysia at about 7%.

With over 30 years of experience to develop and hone its expertise in dealing with complex steel fabrication works and mechanical erection works for plant construction, Eversendai has now transformed to become a well-established structural steel turnkey contractor, civil contractor and a specialist power plant contractor.

Its previous high-profile undertakings include the Burj Khalifa, the Petronas Twin Towers, the Emirates Tower and the Manjung Power Plant.

Currently the group is busy with projects of similar scales like the Pentominium Tower in Dubai, which upon completion will become the tallest residential building in the world and one of the tallest building structures in the world.

Similarly in Saudi Arabia, it is working on the King Abdullah Petroleum Studies and Research Center, and a railway station in the King Abdulaziz International Airport (KAIA).

Nathan's facilities are operating on a busy 24-hour basis with a combined fabrication capacity of about 120,000 tonnes with fabrication facilities in Rawang, Dubai, Sharjah and Qatar, running on 90% of their utilisation rates.

In tandem with its expansion and foreseeable demand, Eversendai is going to add another 24,000 tonnes to 30,000 tonnes of capacity with a RM50mil plant in Trichy, India.

“Once the plant is operational in two to three months time, we can be classified as the largest structural steel contractor in the world, in terms of capacity and track record. Although we are expanding, this expansion fits very much in our core business and this will support our target to hit RM2bil in revenue by 2017,” he says.

Despite struggling to find more time for himself, he is still vying for more business deals for the company to grow.

Eversendai has secured a deal in Azerbaijan recently and is looking at leveraging its position there to penetrate the regional Commonwealth of Independent States or CIS market.

After bagging the US$28.5mil (RM87.3mil) job for the Crescent City project in Baku, Azerbaijan, it is still eyeing for two more sizable jobs within the project's development. “We are also looking at works from the petrochemical industry like the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, and also infrastructure projects like the Mass Rapid Transit (MRT). But, the MRT is still too early to speculate as the stations would only be build later,” he says.

The group has also drawn down RM250mil from the first tranche of the company's first RM500mil Islamic medium-term note programme to fund its working capital.

“For over 27 years, I have toiled to hit a RM1bil turnover by growing progressively and step by step. Now, upon listing, I have a platform which makes it easier for me to create new revenue streams and look for opportunities to expand after achieving critical mass,” he says.

Eversendai's order book currently stands at RM1.6bil, and this would be sufficient for about two years.

“In order to maintain a constant amount of work, we are replenishing it all the time. Generally, we are tendering about RM10bil to RM12bil worth of jobs on a rolling basis, and our success rate is about 20%,” he says.

He also reveals that its orderbook could have been higher if he was just focusing on growing the group's topline.

“We are a company that don't buy into contracts. If the margins are not what we want, we will walk away. Easily there were RM1.5bil worth of jobs we walked away from last year. Even the clients were already pushing us to take it but what is the point when your revenue is super high, and your margins are pathetically low,” he says.

Despite all the positive developments in the company, it have not been reflected in the company's share price. In fact, its share price has been on a 45 degree steep decline since it was listed on July 2011.

Frustrated was probably not the only word Nathan can think of but he still sees a silver lining beyond the horizon.

“In five years time I am going to double my revenue and maintain a PATAMI of 11%. Markets might suppress the share price now, but it will have to reach an equilibrium soon enough to match the company's performance,” he says.

At such a depressed price, Nathan could easily privatise Eversendai as he controls about 70% of the company, however he discounted the possibility of doing that.

The Employees Provident Fund and Lembaga Tabung Haji are the group's second and third largest shareholders with a 8.52% stake and 5.01% stake respectively. For now, Nathan has stopped feeling perplexed and is putting all his effort and resources to develop and expand the group's business.

For its financial year ended Dec 31, 2012, the group recorded a net profit of RM115.3mil, translating to a 14.9 sen earnings per share (EPS), marginally lower compared to RM119.4mil or 15.43 sen EPS recorded in financial year 2011. Revenue stood at RM1.02bil compared with RM1.03bil previously. It declared a total of four sen as dividend last year compared to one sen in 2011. Eversendai closed yesterday at RM1.43, 15.8% below its initial public offering price of RM1.70. It has been on a steady climb since March 27, when it closed at RM1.09.

http://biz.thestar.com.my/news/s ... 43&sec=business

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发表于 2013-4-11 17:18 | 显示全部楼层
依文仙台聯營拓油氣業
大馬 即時大馬財經  2013-04-11 14:07


(吉隆坡11日訊)依文仙台(SENDAI,5205,主板建筑組)及新加坡上市公司特藝石油能源(Technics)合作成立依文仙台特藝有限公司(ETSB),進一步拓展油氣業。
該公司發表文告表示,旗下獨資子公司依文仙台建設(新)有限公司(ECS)及特藝石油能源在大馬設立ETSB,依文仙台及後者各持有69%及30%股權。
ETSB將從事油氣領域相關業務,依文仙台70萬令吉參股資金將由內部融資,預計不會對2013年盈利、淨資產、債務及股本帶來顯著影響。(星洲網)

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发表于 2013-4-30 12:00 | 显示全部楼层
Eversendai oversold, says RHB Research (Update)
Published: Tuesday April 30, 2013 MYT 10:46:00 AM
Updated: Tuesday April 30, 2013 MYT 11:37:54 AM

KUALA LUMPUR: Shares of Eversendai Corporation Bhd, which fell to a low of RM1.08 last week, was overdone, says RHB Research, which maintained a Buy with a fair value of RM1.80.

At 10.34am, the share price was up one sen to RM1.10. There were 147,100 shares done.

The FBM KLCI rose 2.05 points to 1,710.02. Turnover was 146.63 million shares valued at RM313.64mil. There were 140 gainers, 223 losers and 244 counters unchanged.

Eversendai fell from a high of RM1.43 on April 8 and tumbled to a low of RM1.08 last Friday.

However, RHB Research said it believed the sell down, following a slew of news with regards to contract disputes and job cancellations involving Malaysian companies in the Middle East this month, is unjustified.

"Eversendai confirmed that it has not had any major contract disputes with its clients in the Middle East in the past and it currently does not have any major outstanding contract dispute with any client.

"Eversendai also has not encountered any major job cancellation in the Middle East in the past and it believes that it is not prone to job cancellation by virtue of its unique position in the entire construction value chain, that is as structural steel specialist subcontractor who basically comes in 'not too early and not too late' during the construction period," it said.

The research house also said Eversendai was bullish on Qatar, the host of 2022 FIFA World Cup as the focus was to build more iconic buildings that would soon be extended to stadiums and other infrastructure and facilities.

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发表于 2013-4-30 20:44 | 显示全部楼层
依華仙台 遭不合理拋售
財經股市30 Apr 2013 17:18



 (吉隆坡30日訊)大馬公司于西亞的工程計劃頻告吹,依華仙台(SENDAI,5205,主要板建築)股價月內挫近25%,券商認為,該股遭過度拋售不合理,持續看好是西亞建築領域中最好的本地業者。

 興業證券研究分析報告指出,依華仙台的股價從4月8日的高水平1.43令吉,慘遭拋售至上週五的1.08令吉。

 報告指出,本月傳來部分大馬公司于西亞的工程腰斬的消息漸散去,但依華仙台遭拋售的程度始終不合理。

 該股全日窄幅波動,遊走介于1.09令吉至1.10令吉之間,截至3點30分報,該股平盤報1.09令吉,成交量67萬9400股。

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发表于 2013-5-4 16:34 | 显示全部楼层
中东业务稳当 依华建台遭抛售不合理
财经新闻 财经  2013-05-04 13:07


(吉隆坡3日讯)大马公司中东基建工程被取消事件,导致依华建台(Sendai,5205,主板建筑股)近期被抛售,分析员却喊:“是不是搞错了对象?”
回顾月初,大马两家上市公司不约而同宣布在中东国家基建工程被取消,包括WCT(WCT,9679,主板建筑股)在阿曼Batinah高速公路第二配套工程,以及沙地阿拉伯投资局(SAGIA)终止马矿业(MMCCorp,2194,主板贸服股)在Jazan经济城的发展商权。
鉴于上述工程在没有说明理由的情况下被取消,引起市场担心阿拉伯国家或陷入困境。
依华建台股价从4月初1.43令吉5个月最高水平,一直往下掉至1.09令吉,在兴业研究分析员看来,抛售情况相信跟上述新闻有关。
“但这是不合理的。”分析员质疑投资者搞错了会被事件影响的真正对象。

没有合约被取消
分析员今年4月25日跟管理层会面后表示,依华建台向他们确认,无论是过去或现在,公司在中东都没有跟客户发生任何重大合约纠纷,合约也没被取消。
依华建台相信,凭公司的结构钢工程专家市场地位,合约被取消是不容易的。
“再来,我们在中东涉及的工程一般上都不是数十亿令吉的规模,所以,会因融资问题而被取消合约的几率很低。”
依华建台也重申,看好卡达尔的前景,因该国将在2022年举办全球最盛大的世界杯足球赛,目前正致力赶在赛事开踢前打好基建、建好标志性建筑、12座体育馆及总计达9万间客房的多间酒店。
由此,获得依华建台的确认后,分析员维持公司的“买入”投资评级及1.80令吉目标价


分析员看好依华建台的原因:

1.涉足中东建筑领域,特别是卡达尔在为世界杯作准备之际,将迎来建筑荣景。
2.料参与巴生河流域捷运计划,为车站提供结构钢工程服务。
3.曾为中东多个标志性建筑提供结构钢服务且记录良好,是国际承包商首选结构钢专家。

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发表于 2013-5-7 20:27 | 显示全部楼层
Eversendai Corp - Better Valuations On Reduced Risk Premium
Publish date: Tue, 7 May 09:33


We are raising fair value to MYR2.09 from MYR1.80 and maintaining our Buy call to reflect the reduced risk premium following the victory of the Barisan Nasional coalition in the 13th general election.  The sector will now steer clear of potential radical changes proposed by the Pakatan Rakyat coalition that could have hurt earnings and fundamentals including a review of MRT-related contracts and abolition of toll roads.


♦  MRT project is now safe.  The risks of cancellations, changes to terms and scopes of MRT-related contracts are now greatly reduced.  They could have reverberated along the value chain, hurting right from project delivery partner or PDP (MMC-Gamuda JV), tunneling contractor (MMC-Gamuda JV), viaduct/station/depot contractors (IJM, Sunway, Mudajaya, TRC, TSR, Naim, Gadang, UEM, Ahmad Zaki, MTD, Gabungan AQRS), to a long list of smaller and mostly privately-owned contractors as well as suppliers of segmental box girders and tunnel lining segments (Kimlun).   


Toll roads are safe as well.   Similarly, the risk of existing concessionaires not being adequately compensated pursuant to the nationalisation of their toll roads is now greatly reduced.  Among the construction companies under our coverage, Gamuda and IJM have the most toll roads under their belts.  For toll roads under planning, similarly, the risk of them being cancelled is now greatly reduced as well.  These include the RM7bn West Coast Expressway (WCE) of Kumpulan Europlus/IJM and East Klang Valley Expressway (EKVE) of Ahmad Zaki. ♦  Sector target PER raised.  We reflect the reduced earnings risk and risk premium for the sector by upgrading our 1-year forward target PER for construction stocks to 10-16x from 8-13x.  Eversendai’s fair value is raised to MYR2.09 (based on 12x FY14 EPS), from MYR1.80 (based on 12x FY13 EPS).  Maintain Buy.



Source: RHB

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发表于 2013-5-12 18:32 | 显示全部楼层
进军油气业攫取新商机 Eversendai展望看俏

二零一三年五月十一日 晚上七时三十七分




(吉隆坡11日讯)从学校毕业后经过艰苦的锻练,拿督纳登享受生活中简单的事情,像他在日本池塘中饲养锦鲤一样。 在经营一个不断增长的业务是一个令人愉快的消遣,他是自1980年代从零开始创业。

作为Eversendai机构有限公司(SENDAI,5205,建筑组)执行主席兼董事经理,他将进军石油和天然气领域,并在该蓬勃发展的行业中,寻找更多有关钢铁结构的建造机会。

纳登最近从中东回来后告诉传媒:“我们预见石油和天然气业务会有扩充和增长。一旦我们在联营公司的董事局安排关键人物上任后,事情就会容易办理,预计在6月将会完成。”

从表面上来看,该集团似乎有理由放弃旧有的核心业务。但是纳登不同意。他说,虽然石油和天然气是不可或缺的核心业务,但是我们缺乏这方面的营业记录。

他称:“这是我们收购科技石油天然气有限公司的原因,而且我们可互补长短。我们在中东声誉卓著,而科技油气在油气行业设置卫星模块中,拥有良好的记录和技术。”

他指出,我们将重点放在最好的地方,就是为客户制造模块、结构和提供机械作业。

今年1月底,该集团增持科技油气的股权至20.1%,并随后与后者以70:30股权成立一家名叫Eversendai科技私人有限公司的合资公司。由于Eversendai是该上述联营公司大股东,因此它专注于来自中东的油气项目。

他说:“我们已经获得一些客户的查询,这是值得鼓励。现在,我们正在进行一些基本工作和提呈一些标书。我无法具体透露我们正在投标的项目名称,但我只想说,我们皆在陆上和海上投标了一些项目,并正在与一些手头上有工作的工程、采购和建造(EPC)承包商合作。”

他补充:“我的儿子纳利士,9年来一直为集团管理业务,并负责首次进军石油和天然气领域。纳利士将囊括Eversendai和科技油气的关键人员,作为创业先锋。”

目前,该集团的营业额约75%来自中东地区,印度占15%,而马来西亚则占7%。

凭借过去超过30年的发展经验,以及磨练其专业知识下,使到它能够处理复杂的钢铁制造工程,以及厂房建设的机械安装工程。Eversendai现在已经转变成为一家确认的钢铁结构总承包商、土木工程承包商和专业电厂承建商。

之前,它的辉煌事迹包括建造迪拜塔、双峰塔、阿联酋塔和曼绒发电厂。

目前,该集团忙于一些规模庞大的项目,如在杜拜兴建的Pentominium大厦,一旦落成后,将成为世界最高的住宅大楼,以及是世界上最高的建筑物之一。

同样,它在沙地阿拉伯正在建造阿都拉国王石油学术研究中心,以及在阿都拉阿齐兹国王国际机场(KAIA)兴建一座火车站。

纳登的业务是以24小时来经营,而综合产能约为12万公吨,集团在万挠、杜拜、沙迦和卡塔尔皆设有制造设施,并以90%的设备使用率来操作。

为配合其扩充和可预见的需求,Eversendai在印度的特利奇斥资5000万令吉建厂,以着手增加另外2万4000公吨至3万公吨的产能。

他透露:“一旦工厂运作了2至3个月的时间,以产能和往绩方面来说,我们可以归类为世界上最大的结构钢承包商。虽然我们正在扩充,但是这种扩充非常适合我们的核心业务,而且也将支持我们在2017年收入达到20亿令吉的目标。”

尽管他的工作非常繁忙,但他仍然争取更多商业交易,为公司增长铺路。

Eversendai最近在阿塞拜疆锁定了一项交易,并放眼提升其财务状况以渗透入该独联体市场。

当取得在阿塞拜疆首都巴库总值2850万美元(8730万令吉)的新月城项目后,即使在发展阶段中,它仍然对另外2个庞大项目虎视眈眈。他指出:“我们亦正在寻找像石化行业一样的项目,例如炼油厂和在边佳兰的石化综合发展项目,而且还有基础设施项目,例如捷运(MRT)。但是,捷运仍为时过早去揣测,因为车站将会在较迟的时候建造。”

该集团在首次发售5亿令吉伊斯兰中期票据后,第一次提取2亿5000万令吉的款项用作融资营运资金。

他表示:“过去逾27年,我已经达到10亿令吉营业额的目标。上市后,我有一个平台,可使我们更容易创造新的收入来源,以及在取得庞大资金后可寻找机会扩充业务。”

目前,Eversendai的订单总额高达16亿令吉,因此足够贡献这两年的盈利。

他指出:“为了保持一个稳定的工作量,我们经常补充新合约。一般而言,我们招标介于100亿到120亿令吉的工程项目,而我们的成功率是20%左右。”

他还透露:“如果只是专注集团的营收增长,我们的合约订单可以取得更多。”

他说:“我们是一家不购买合约的公司。如果我们对该赚幅不满,我们不会去追求。去年,我们一共放弃了总值15亿令吉的工作。即使客户游说我们接受工程合约,但是我们仍拒绝。因为,当你的营收是非常之高时,你的赚幅就会低得可怜,那么我们为什么要做。”

尽管集团拥有所有的积极发展,但是它并未获反映在股价中。事实上,集团的股价自2011年7月上市以来,一直处于跌势。

纳登对于集团股价一直下跌并不感到沮丧,因他看到未来还有一线希望。

他称:“日后的5年时间里,我将集团的收入增加一倍,并保持11%的税后归属股东利润率。目前,市场可能会抑制股价,但它很快会达到平衡,并配合集团的业绩而波动。”

在如此低迷的股价中,纳登可以轻易地将Eversendai私有化,因他控制着70%的股权。但他表示,这样做的可能性不大。

雇员公积金局和朝圣基金局是该集团的第2和第3大股东,它们分别持有8.52%和5.01%的股权。现在,纳登不再感到困惑,而且把他所有的精力和资源来发展和扩大集团的业务。
http://www.kwongwah.com.my/news/2013/05/11/101.html

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发表于 2013-5-13 15:30 | 显示全部楼层
依文仙台重申中東合約沒問題

2013-05-13

未署名讀者問:

依文仙台(SENDAI,5205,主板建築組)好像一直拿到很多中東合約,最近聽說一些合約有些問題,請問情況如何?值得持有嗎?


答:依文仙台早前重申,該公司在中東的建築合約並沒有問題,厘清最近傳出大馬建築公司在中東市場面對合約取消或糾紛疑慮。

興業研究在與依文仙台管理層後發表報告指出,該公司是中東建築市場的大馬“代表公司",特別是在卡塔爾市場。卡塔爾將在2022年主辦世界杯足球賽,料將推動建築業進入蓬勃周期,預料該公司有望取得一些工程合約。

該行指出,今年4月傳出本地一些建築公司,在中東市場出現工程合約糾紛,或甚至是取消合約的利空消息,該公司也受拖累而股價大跌,惟這是反應過敏及不合理的。

該公司指出,過去的中東工程合約未曾出現過糾紛問題,並且最近在中東也沒有取得重大合約。而該公司涉及的架構鋼鐵專業領域二手承包工程,較不容易出現毀約或是取消合約糾紛。而該公司的代表性的架構鋼鐵專業利基業務,在國內外市場仍深具競爭力。

興業指出,該公司除了是中東建築市場的代理公司外,也是巴生河流域捷運計劃的潛在代理公司之一。

該行預測其2013年財政年淨利為1億1千600萬令吉,及2014年則為1億3千500萬令吉,並給予“買進"評級。

(星洲日報/投資致富‧投資問診室)

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