Tuesday, March 13, 2012

Mudajya ... Mar12

Industry sources said the company was also organising a trip for analysts and fund managers to the plant in India.

To recap, Mudajaya ventured into the Indian power sector by taking a 26% stake in RKM Powergen Pvt Ltd via subsidiary Mudajaya Corp Bhd in undertaking a 1,440-MW coal-fired independent power producer (IPP) project in Chhattisgarh, India.

The project comprises four generating units with a nominal capacity of 360 MW each.
The Indian project, however, did not start off well and hit some bumps. In 2010, Mudajaya went to great lengths to explain the power plant project it is undertaking with its partner in India.

It was also probed by the Securities Commission (SC) as a nine-page, anonymously-written letter made its rounds. The company was subsequently cautioned that it must ensure compliance in future.

Among the issues brought up in the letter was the high price of RM871mil Mudajaya paid for its 26% stake. That compares with the RM273mil RK Powergen paid for its 74% stake. Mudajaya has since clarified that the premium it paid was justified as it included approvals, the IPP contracts, coal cost savings and a chance to enter India's power industry.

For the financial year ended Dec 31, 2011, Mudajaya posted a net profit of RM231mil on revenue of RM1.34bil.
There was a high chance of more power plant-related jobs in the pipeline, which should add to the expected positive news flow from the rollout of other jobs under the 10th Malaysia Plan and the Economic Transformation Programme.

There should also be excitement on the potential winners of the MRT elevated packages which will be awarded over the next six months. We make no changes to out earnings per share forecasts as we continue to assume RM1.5bil worth of new jobs in 2012.

Project wins continued to be the stock's key potential catalyst.

The progress on the India IPP had been substantial, with some US$570mil worth of EP works outstanding equivalent to 40% completion.

24 comments:

  1. generic tramadol tramadol for dogs 50mg dosage - tramadol with vicodin

    ReplyDelete
  2. tramadol without prescription tramadol 50 mg how long does it last - tramadol for dogs taken by humans

    ReplyDelete
  3. buy tramadol online buy tramadol cod next day delivery - order tramadol with money order

    ReplyDelete
  4. tramadol online buy tramadol online in the usa - tramadol for dogs no prescription

    ReplyDelete
  5. buy tramadol online buy tramadol online cod overnight - tramadol 50 mg and alcohol

    ReplyDelete
  6. buy tramadol online tramadol dosage recommendations - order tramadol online no prescription

    ReplyDelete
  7. buy tramadol tramadol dosage use dogs - can get tramadol online

    ReplyDelete
  8. xanax online order xanax bars - xanax relieve anxiety

    ReplyDelete
  9. buy carisoprodol carisoprodol high yahoo - carisoprodol overdose treatment

    ReplyDelete
  10. buy cialis online how buy cialis online - can i order cialis online

    ReplyDelete
  11. cheap tadalafil cialis price drugstore - cialis price eu

    ReplyDelete
  12. buy cialis online cialis or viagra - cialis coupon printable

    ReplyDelete
  13. generic xanax buy xanax cheap online no prescription - buy cheap 2mg xanax

    ReplyDelete
  14. order cialis online no prescription generic cialis cheap online - buy cialis today

    ReplyDelete
  15. buy cialis no prescription canada cialis price drop - order cialis online with prescription

    ReplyDelete
  16. buy tramadol tramadol 50 mg for humans - get tramadol online no prescription

    ReplyDelete
  17. http://landvoicelearning.com/#44827 tramadol hydrochloride capsules 100 mg - rx tramadol sr - 100 mg

    ReplyDelete
  18. http://buytramadolonlinecool.com/#63102 buy tramadol online cod overnight - tramadol kick in time

    ReplyDelete
  19. buy tramadol online no prescription overnight tramadolonlinepharmacy - mister wong tramadol 100mg

    ReplyDelete
  20. buy tramadol tramadol 50 mg ultram - tramadol 50 mg is used to treat

    ReplyDelete
  21. http://blog.dawn.com/dblog/buy/#91875 tramadol online - tramadol hcl high erowid

    ReplyDelete
  22. buy ativan online ativan buy online no prescription - ativan pediatric dose

    ReplyDelete
  23. buy tramadol online tramadol with acetaminophen high - tramadol withdrawal vs vicodin withdrawal

    ReplyDelete
  24. buy tramadol online tramadol for dogs how much to give - tramadol 50mg how many to get high

    ReplyDelete