【SENDAI 5205 交流专区】依华建台

icy97

Date of change	22 Aug 2017
Name	MR CHEAH BAN SENG
Age	53
Gender	Male
Nationality	Malaysia
Designation	Executive Director
Directorate	Executive
Type of change	Appointment
Qualifications	Bachelor of Accountancy (Hons) Malaysian Institute of Accountants (Member)
Working experience and occupation	Mr. Cheah Ban Seng has 29 years of experience in finance. Prior to joining Eversendai, he worked in overseeing financial performance of a public listed group that has its business in a wide spectrum of principles including integrated steel plant, properties, construction, mining, consumer products and other investments.He also has vast experience in group strategic business direction setting and spearheading corporate finance, mergers & acquisitions, corporate affairs & investor relations, group legal and company secretarial functions.

icy97

依华建台次季赚2061万

2017年8月29日
（吉隆坡28日讯）依华建台（SENDAI，5205，主板建筑股）截至6月杪次季，净赚2060万9000令吉或每股2.66仙。

该公司今日向交易所报备，同期营业额按年涨11%，报4亿6587万令吉。

累计上半年，依华建台净赚3587万3000令吉；营业额持平，达8亿6183万8000令吉。

上半年，中东区域钢铁结构与建筑业务贡献56.4%营业额，接着是印度（13.9%）、大马（11.4%）及泰国与新加坡（2.4%）。油气领域则带来15.9%营业额。

依华建台有信心，未来将取得更高的营业额的利润，放眼今年全年表现正面。

截至6月杪，依华建台已取得13亿7700万令吉新合约，手握订单为27亿令吉。

其中，46.3%手握订单来自中东区域，之后是印度（21.7%）、大马（20.5%）以及油气领域（11.5%）。

该公司还称，目前正着手准备数项项目，相信会在近期内宣布。

达证券：估值过高

达证券分析员认为，依华建台股价已跑赢基本面，因此维持“卖出”评级。

他点出，该公司负债率偏高，为1.04倍。但相信年杪交付首艘liftboat后，将有所改善。

依华建台上半年核心净利为3100万令吉，符合分析员预期，占全年预测的48.3%。

因此，分析员维持2017至2019财年盈利预测和58仙目标价。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2017	30 Jun 2016	30 Jun 2017	30 Jun 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	465,870	421,551	861,838	862,276
2	Profit/(loss) before tax	25,747	-18,758	44,460	-65,498
3	Profit/(loss) for the period	22,792	-20,292	40,397	-69,329
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,609	-21,282	35,873	-71,707
5	Basic earnings/(loss) per share (Subunit)	2.66	-2.75	4.64	-9.27
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.1300		1.1200

icy97

依华建台
新增订单料达20亿

2017年9月9日

分析:达证券
目标价:58仙

最新进展:

依华建台（SENDAI，5205，主板建筑股）截至6月杪次季，净赚2060万9000令吉或每股2.66仙；同期营业额年涨11%，报4亿6587万令吉。

累计首半年，净赚3587万3000令吉；营业额持平，达8亿6183万8000令吉。

管理层放眼今年营业额可达20亿令吉。

行家建议:

我们预计，2017财年营业额可录得18亿1960万令吉。

年初至今，该公司已获得价值13亿7700万令吉的新合约，其中近70%的订单来自中东。

该公司有信心可在2017财年，获得至少20亿令吉的新增合约，与我们预测相符。

该季未入账订单达27亿令吉，相比上季的32亿令吉少，预计可维持盈利贡献长达2年。

目前，该公司在竞标高达120亿令吉的项目，中东项目占大部分，因看好沙地阿拉伯和阿联酋市场。

此外，该公司第一艘起重船（Liftboat）的进度已达95%，第二艘则达60%，并与其客户Vahana岸外商讨相关的租船合约。

综合上述因素，我们维持“卖出”评级及58仙目标价。



【e南洋】

哭哭鸟

Ever-Sendai: An investment filled with business sense? kcchongnz
Author: kcchongnz   |    Publish date: Sun, 8 Oct 2017, 12:47 AM
http://klse.i3investor.com/blogs/kcchongnz/134621.jsp

“..there are two possible endings to every story.”― Christie Watson, Tiny Sunbirds, Far Away

In my last article published in i3investor, “Margin Finance, EverSendai: A real time case study” below,

https://klse.i3investor.com/blogs/kcchongnz/133708.jsp

I use Eversendai to illustrate the peril of using share margin finance (SMF). Sendai was trading at 80 sen then, just for sharing purpose.

I illustrated that with SMF of 50%, a speculator following the “sailing” call punting on Sendai at RM1.37 would have lost a whopping 83%, in just two months! This has not included the set-up cost, the interest payment for the SMF, and other transaction costs.

That punter would have encountered margin calls, and as he had already “sailing”, and likely had no more money to top up his margin maintenance account. His investment banker would have sold off all his Sendai shares at huge loss, a confirmed and realized loss.

Here I received this interesting comment.

[stockmanmy has left a new comment on your post "Margin Finance, Ever-Sendai: A real time case study kcchongnz":
sendai from 80 sen to 95 sen now...................
KC lousy timing, lousy business sense and lousy analysis.]

What is so interesting about this comment?
"The stock market is filled with individuals who know the price of everything, but the value of nothing." - Phillip Fisher

The fellow above only knows about price movement of Sendai, without the faintest idea what its value is and was so sexcited when Sendai went up from 80 sen to 95 sen. He forgot that he had been asking people in i3investor to “sailing” with margin finance all over the place when it was trading at RM1.37. He doesn’t care that those who followed his calls had got their shares forced sold at about 80 sen, and hence had incurred huge losses, without having a chance to recover.

“Lousy timing”? Lousy timing writing the article when Sendai was trading at 80 sen and now it is 95 sen?

I have been writing about articles telling another side of a story about margin finance all the time, and timing of when to write has never been in my mind. I had no idea whether the share price of Sendai would go up or go down at the time of writing, nor do I know if it will go up or go down in the future. By the way, I have no interest on that.

“Spending an hour trying to predict the future movement of the stock market is an hour wasted in your life.”

“Lousy business sense” not investing in Sendai?

I would like to spend some time discussing the above statement by that fellow.

No business sense not investing in Sendai
Before deciding if to invest in Sendai, I would first seek answers to a few simple questions as below,

•                 What is the industry it is in, and how is the competitive environment?
•                 What is the expected bottom line, rather than the size of the order book?
•                 What are the risks?
  
  

        Construction industry, which Sendai is involved in, is filled with many problems and uncertainties. It is a dog-eat-dog world. Contractors, unless they have good contacts for negotiated contracts or they have special skills, win jobs by competitive pricing, and hence margins are generally low. Otherwise, forget about getting the job.

There are many reasons which can delay the construction works and causes cost overrun, almost for all construction projects, all the time. There are also a lot of contract disputes, payment problems, which often, contractors are the one who suffer most.

Is Sendai suffering from this predicament?

Please refer to my analysis on Sendai in the thread “Banging On EverSendai: Risk and Return” below,

https://klse.i3investor.com/blogs/kcchongnz/132084.jsp

Low margin, cost overrun
The net profit margins of Sendai were very low at about 3.5% over the last few years. Suddenly last year, it announced a huge loss of RM274m! In the cash flows aspects, it was even more precarious. At the cash flows from operations (CFFO) level, there already huge deficits the last two years, RM53m in 2016, and RM216m in 2015. Free cash flows (FCF), after capital expenses, were negative 4 out of the last 5 years. In the last 4 years, the company bled a whopping total of RM662m in cash.

That is the problem with construction industry when a construction company has to undergo competitive bidding for job. Many companies tender at low margin in order to secure the job. When everything goes smoothly, the company earns a low margin. However, when they encounter problems, most construction companies will encounter problems all the time such as cost overrun, and work delays, their jobs turn into losses, often huge losses like what happen to Sendai last year.

Why is avoiding investing in this type of low margin construction company considered as lousy business sense as claimed?

Construction Disputes
Construction is full of disputes, all the time. Contactor often claims that there are additional work and entitlement of claims for additional time and overheads, whereas the clients and consultants always accused the contractor of work delay and hence impose liquidated damages. There are always two sides of the story, and unfortunately, the contractor is always at the losing end.

The contractor may go for arbitration, or court cases, but ultimately the contractor is always on the losing side. Make no mistake about it.

Ever wonder why there have been growing receivables up to such a whopping RM1.7 billion, and suddenly such a big write off and losses of RM274m last year for Sendai?

Is it really such a lousy business sense avoiding in investing in a construction company with low margin but full of risks and uncertainties like that of Sendai?

Bankruptcy risk
Total borrowings of Sendai in the most recent quarter have ballooned from RM254m in 2012 to RM1190 million now with total debts 1.4 times its equity.

It is no surprise that there will be many cash calls to come for the next few years. The private placements, at 10% discount, as I see it, the company has no choice but to get this money fast, to pay down debts and money for working capital. I doubt the banks are lending more looking at its risks. If I were a shareholder, I would be very reluctant to put in more money too.

Is that really a lousy business sense avoiding investing in a risky company like that of Sendai?

Conclusion
In my opinion, it is full of business sense avoiding investing in a construction company with huge losses, low margins, and a precarious balance sheet.
        
If one really keens on investing in construction companies, there are so many others with higher margins, more predictable and stable and visibility in earnings, and cash flows. Many of them with solid balance sheet, and good dividends.
        
Focus on investing in a business of a company, with business sense, true business sense of course, rather than the price movement of a piece of paper.
        
Think of the downside in investing, the upside will take care of itself.
        
Invert, always invert.

哭哭鸟

官友缘和牙齿印之争 投资SENDAI到底是对是错？
09/10/2017
https://9shares.my/官友缘和牙齿印之争-投资sendai到底是对是错？/

当你决定投资於一家公司的股票时，你必定是看好公司前景，这种看法很主观，有时对，有时错，明星投资家官友缘今年大手投资的依华仙台（SENDAI 5205），股价却从1.35令吉处大滑跌至目前的93.5仙。

官友缘会看错吗？他自已仍坚持，依华仙台的前景很好，未来会交出出色盈利，日前他更在部落格撰文，向依华仙台管理层做出三项＂救股价＂建议。不过，一名和官友缘有＂牙齿印＂的财经部落客，就直斥投资依华仙台是错误的。

依华仙台股价在上周跌破80仙水平，今日收在93.5仙，官友缘的成本价介於1.20令吉，账面亏损约二十巴仙左右。

官友缘虽然八十五高，不过仍常在部落格里撰文和人＂斗咀＂，对不同意见有争执。

这一次，撰文和他针锋相对的部落格是KC CHONG，他是根据会计原则分析一家上市公司前景。

他指出，要投资依华仙台之前，就要看清楚这家公司的业务和财务状况，包括它的现金流。

他说，依华仙台进军的建筑业，竞争非常激烈，赚幅也偏低。

他表示，过去几年，依华仙台的赚幅仅有3.5%，在去年更出现2亿7400万令吉巨额亏损；公司过去两年的现金流更出现赤字，分别为二零一五年2亿1600万令吉，二零一六年5300万令吉。

KC CHONG说，依华仙台在过去四年，耗失6亿6200万令吉现金。

「这是建筑业者共同面对的问题，为了得标，建筑公司不惜拉低标价，当一切顺利，还可赚到很低盈利，但是若出现工程延误或其它意外，盈利就化为乌有，甚至要蒙受巨大亏损。」

总得来说，他认为投资者应该避开这类型建公司，因为前景难以预测。

《九点股票》简述KC CHONG的看法，并不是要看他和官友缘的＂斗法＂，而是要让读者看清，投资一家公司，必会有两种看法，在进场前，绣，因为看错的话，最後赔上金钱的是你自已，和别人无关。

官友缘身家够厚，承受得起三几次看错的行动，我是小小投资者，看错时就要认错，止损出场可以保住资金，还可以东山再起。

大马股票交易所有一千家公司，可以供你选择的最少三五十家，不必为错过一次机会感到可惜。

icy97

建岸外平台及导管架
依华建台获沙地阿美合约

2017年11月6日
（吉隆坡6日讯）依华建台（SENDAI，5205，主板建筑股）宣布，获得沙地阿美岸外制造合约，是首家参与该项目的大马企业。

该公司今日发布文告，阿联酋独资子公司依华建台岸外RMC FZE，是通过沙地阿美长期协议工程、采购与建筑承包商——意大利油气公司Saipem获得合约，但未透露合约价值。

依华建台岸外预计，该合约将是取得更多沙地阿美项目的前奏，因为后者计划在未来10年投资超过3000亿美元（约1.27兆令吉）。

另一方面，依华建台岸外近期也获得沙地阿美9COM认证，可执行只开放给预先符合资格和被批准公司的项目。

因此，该公司位于阿联酋哈伊马角的制造厂，会成为符合资格供应商，有机会为沙地阿美制造和兴建岸外平台和导管架。

依华建台岸外总执行长纳里斯纳登说，在中东拥有沙地阿美认证的制造厂数量有限，因此，可提高竞标成功率。

今年赢15.6亿合约

他称，该公司成功取得认证，主因在于制造厂品质和安全需求全面，和拥有多年经验和合格员工执行项目。

另外，依华建台也宣布获得总值1亿8000万令吉合约。

这包括13个卡塔尔多哈门架结构项目、一个位于多哈的综合发展项目、位于迪拜的银行总部，以及为Saipem在沙地阿拉伯兴建导管架。

纳入沙地阿美项目和上述合约，年初至今，该公司已赢得15亿6000万令吉合约，手握订单则是约23亿令吉。【e南洋】

Type	Announcement
Subject	OTHERS
Description	PRESS RELEASE : EVERSENDAI ACHIEVES 9COM CERTIFICATION AND RM180MILLION NEW WINS
Please refer to the attachment below.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5593473

Attachments Eversendai - Press Release - Eversendai Achieves 9com Certification and RM180million New Wins.pdf

icy97

获沙地阿美合约及认证．依文仙台有望重估

（吉隆坡7日讯）依文仙台（SENDAI，5205，主板建筑组）接获沙地阿美颁发1亿8000万令吉的岸外制造项目合约及9COM认证，分析员认为这将为该公司油气业务开拓庞大市场，料成为重估催化剂。

丰隆研究认为，依文仙台的盈利已逐步复苏，且已反映在股价上，今年至今，该股已走扬73%。

丰隆表示，获得该认证，对于依文仙台来说是正面的里程碑，因为这意味该公司已经拥有预审资格，成为沙地阿美制造及建筑供应商。

达证券研究同样正面看待并认为，此举将是依文仙台重估的催化剂。

该行指出，这也将促使依文仙台能够直接从沙地阿美手中获得合约，而不需透过沙地阿拉伯的Saipem，继而享有更高的赚幅。

丰隆指出，纳入上述合约，依文仙台今年至今获得了16亿令吉合约，累积手握订单至23亿令吉；管理层乐观看待攫取新合约情况，认为本财政年潜在可获得20亿至25亿令吉合约。

不过，丰隆及达证券对于依文仙台评级意见不一，前者维持“守住”及1令吉零1仙目标价不变，后者却维持“卖出”及58仙目标价不变。

国行也嫌复杂 4点看透保险



文章来源：
星洲日报‧财经‧2017.11.08

icy97

依华建台第三季赚2083万

2017年11月28日
（吉隆坡27日讯）钢铁结构与建筑业务贡献提高，促使依华建台（SENDAI，5205，主板建筑股）截至9月杪的第三季，净利按年上涨1.9倍，至2082万6000令吉或每股2.69仙。

依华建台今天向交易所报备，去年同期的净利为727万9000令吉或每股0.94仙。

当季营业额也从去年的3亿7136万1000令吉，提高21%，至4亿4932万1000令吉。

油气恢复中

累计首9个月，净赚5669万9000令吉或每股7.32仙，去年同期为净亏6442万8000令吉或每股8.33仙。

营业额报13亿1115万9000令吉，按年上涨6.3%。

依华建台今天发出文告称，通过旗下的钢铁结构与建筑业务臂膀，中东市场持续带动营收走高，为首9个月的营业额贡献56.9%；油气领域贡献另外16.5%。

该公司预计油气业务能够持续增长，归功于近期取得沙地阿美9COM认证，为沙地阿美制造和兴建岸外平台和导管架。

“我们预计，该合约将是取得更多沙地阿美项目的前奏，因为后者计划在未来10年投资超过3000亿美元（约1.27兆令吉）。 ”

年初至今，依华建台获得16亿令吉新合约，手持订单增至27亿令吉。

上述皆为钢铁结构与建筑业务订单，剩余的15%是油气领域订单。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	449,321	371,361	1,311,159	1,233,637
2	Profit/(loss) before tax	19,706	9,670	64,166	-55,828
3	Profit/(loss) for the period	18,874	9,342	59,271	-59,987
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,826	7,279	56,699	-64,428
5	Basic earnings/(loss) per share (Subunit)	2.69	0.94	7.32	-8.33
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.1400		1.1200

icy97

依华建台
全年20亿合约太乐观

2017年11月29日

分析:肯纳格投行
目标价：80仙

最新进展

依华建台（SENDAI，5205，主板建筑股）截至九月杪第三季，净利按年上涨1.9倍，至2082万6000令吉或每股2.69仙。

该季营业额也从去年的3亿7136万1000令吉，提高21%，至4亿4932万1000令吉。

累计首九个月，录得净利5669万9000令吉或每股7.32仙，去年同期为净亏6442万8000令吉；营业额则报13亿1115万9000令吉，按年上涨6.3%。

行家建议

依华建台首九个月的的净利表现超出预期，分别达到我们和市场全年预测的84%和82%。个中原因，可归功于公司在阿联酋业务的税务优惠，因此贡献高于预期。

因实际税率比预期中低，我们将今明两年的净利预测，各别上调12%。

年初至今，公司已锁定了总值16亿令吉的新合约，而我们的全年预测是18亿令吉。依华建台设下的全年目标是20亿令吉，我们认为公司可能会过于乐观。

按照历史表现，依华建台从来未有在一年内拿下超过总值18亿令吉的合约。

维持“低于大市”的投资评级，但根据下财年9倍本益比，将目标价由之前的75仙，上调至80仙。



【e南洋】

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依华建台获2.72亿合约

2018年1月18日
（吉隆坡17日讯）依华建台（SENDAI，5205，主板建筑股）宣布，子公司EVERSENDAI工程杜拜（简称EVS杜拜）获颁两项合约，总值2.72亿令吉。

依华建台向交易所报备，One Za’abeel合约是由ALEC工程与承包公司所颁发，另一个IL Primo Address Tower合约，则是由TAV建筑颁发。

根据文告，工程预计会在2020年完成。

依华建台执行主席兼集团董事经理丹斯里AK纳登，通过文告表示，对今年最新赢取的合约感到高兴，这证明公司在国内外的结构钢铁领域拥有出色的记录。

“我们相信，今年会赢得更多合约，以显著推高营业额和净利增长。”

包括新合约，公司截止目前的订单共达25亿令吉。【e南洋】

Type	Announcement
Subject	OTHERS
Description	EVERSENDAI CORPORATION BERHAD's (the "Company") WHOLLY-OWNED SUBSIDIARY, EVERSENDAI ENGINERING LLC DUBAI ("EVS DUBAI") AWARDED TWO NEW CONTRACTS WORTH RM272 MILLION.
The Board of Directors of the Company are pleased to announce that EVS DUBAI has been awarded two (2) new contracts for the structural steel works for One Za'abeel mix-used development ("One Za'abeel") and the Address Tower Residence IL Primo luxury high end residential tower ("IL Primo Address Tower") (collectively known as the "Contracts"). Please refer to the attachment below for the full annoucement.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5666757

Attachments Eversendai Corporation Berhad - Announcement - 17.1.2018.pdf

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18亿替补合约．依文仙台有望达标

（吉隆坡18日讯）依文仙台（SENDAI,5205,主板建筑组）获新合约，未完工合约走高至25亿令吉，18亿令吉的替补合约目标预料可达标。

刚获2.72亿合约

周三，依文仙台获ALEC工程建筑公司和TAV建筑公司颁发总值2亿7200万令吉结构工程合约。

达证券假设上述合约的净赚幅为5%，预期可带来1360万令吉净利，相等于1.7仙的每股净利；肯纳格研究则预测税前赚幅为6%，那么未来3年每年可对净利做出410万令吉的贡献。

肯纳格认为，只要该公司2018财政年再攫取15亿令吉合约，就可达致18亿令吉的替补合约目标。

达证券说，近期油价走高，相信中东地区的经济情绪可获得改善，该地区是最主要的市场。

因此将2018及2019年的替补合约预测从15亿令吉调高至16亿令吉。

不过，基于该公司在2017年仅攫取17亿令吉合约，无法达到20亿令吉目标，因此达证券调低2018及2019财政年的盈利预测5.2%及5.5%。

肯纳格则维持2017及2018年的核心净利预测，分别为6590万令吉及7840万令吉。

目前，依文仙台手握25亿令吉合约，肯纳格认为，可支撑未来1年至1年半业绩。

油气领域展望方面，依文仙台本应在2017年第三季，完成多功能服务型平台（lift boat），惟基于更严格的规范，因此展延至今年首季。

该平台主要是为油气业者提供服务。

肯纳格说，除非该平台获得租约，不然银行未必愿意放款依文仙台。

油气业务恐须拨备

万一首项平台无法获得租约，肯纳格不排除2019财政年需做出拨备。不过，按油气领域当下走势来看，未来12个月的租约仍相当蓬勃。肯纳格将紧密追踪市场走势。

肯纳格补充，第二项平台正在建造，已经完成55至60%，预期上半年竣工，不排除需要用更长时间完成。

肯纳格决定调低该公司本益比，从9倍降至8倍。达证券的本益比估值则为6倍。



文章来源：
星洲日报·财经·报道：谢汪潮·2018.01.18

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依华建台终止私配

2018年2月8日
（吉隆坡7日讯）依华建台（SENDAI，5205，主板建筑股）决定终止私下配售活动，但未披露原因。

该公司周二向交易所报备，已向麦格理银行发出终止通知，将于19日生效。

去年8月15日，依华建台建议私配最多7738万9900股或10%的股本，并与麦格理银行签署有条件股权认购协议。

假设配售价为每股98仙，该公司估计可筹获7580万令吉。

其中，7000万令吉将用于偿还短期贷款，480万令吉将用做营运资本，而剩余的100万令吉则为私配开销。【e南洋】

Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING
Description	EVERSENDAI CORPORATION BERHAD ("EVERSENDAI" OR THE "COMPANY")PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF EVERSENDAI (EXCLUDING TREASURY SHARES) ("PRIVATE PLACEMENT")
We refer to the announcements dated 15 August 2017, 16 August 2017 and 21 August 2017 in relation to the Private Placement. Unless otherwise defined, the definitions set out in the announcement dated 15 August 2017 shall apply herein. On behalf of the Board, RHB Investment Bank wishes to announce that Eversendai has decided to terminate the Private Placement and had on 5 February 2018 delivered a termination notice to Macquarie Bank. The termination of the Private Placement shall be effective on 19 February 2018 pursuant to the clause set in the Subscription Agreement. This announcement is dated 6 February 2018.

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依华建台末季赚2981万

2018年2月28日
（吉隆坡27日讯）依华建台（SENDAI，5205，主板建筑股）截至12月杪末季，净赚2981万2000令吉或每股3.84仙。

该公司今日向交易所报备，若按季比较，净利按年走高43%，归功于中东与大马业务贡献增加。

末季营业额按年扬49%，报5亿1922万4000令吉。

累计全年，依华建台净赚8651万1000令吉，扭转去年亏损颓势；营业额按年攀16%，至18亿3038万3000令吉。

钢铁结构业务是主力，占营业额的68%，其余32%来自发电厂、土木工程和油气。

中东业务带来69%营业额，接着是印度，占14.5%。

去年，该公司共获得约16亿令吉新合约，截至去年杪，手握约22亿令吉订单，其中41%来自中东、21%东南亚、22%印度和16%油气领域。

手握大量订单的依华建台有信心，未来会取得更高的营业额和利润。

执行主席兼集团董事经理丹斯里AK纳登通过文告说：“我们很有信心，未来会取得更多新合约及利润回酬。我们专注于进一步强化现有业务，并简化成本控制，以改善盈利。”

获2.6亿中东合约

另一方面，该公司宣布在中东获得2亿6170万新合约，其中卡达尔有3项合约，迪拜则是4个新项目。

依华建台将为卡达尔某体育场和7星级酒店大楼，提供钢铁装置。

迪拜项目则包括一项综合发展项目、一座钢铁天桥、一座连接公共空间的遮阳结构及一项位于迪拜河南部的城市发展项目。

包括上述新合约，依华建台年初至今获颁5亿3390万令吉新合约，手握订单约25亿令吉。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2017	31 Dec 2016	31 Dec 2017	31 Dec 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	519,224	348,791	1,830,383	1,582,428
2	Profit/(loss) before tax	31,706	-211,380	95,872	-267,208
3	Profit/(loss) for the period	28,545	-214,102	87,816	-274,089
4	Profit/(loss) attributable to ordinary equity holders of the parent	29,812	-214,455	86,511	-278,883
5	Basic earnings/(loss) per share (Subunit)	3.84	-27.71	11.15	-36.04
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.1400		1.1200

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凡事亲力亲为-‧-ak纳登掌握依文仙台
http://www.sinchew.com.my/node/1743876/

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Type	Announcement
Subject	OTHERS
Description	Eversendai Corporation Berhad (the "Company" or "Eversendai Group")Disposal of Shares in Perisai Kuasa Sdn Bhd ("PKSB"), a subsidiary of the Company
1.         INTRODUCTION Eversendai Corporation Berhad (the “Company”) wishes to announce that it had, on 3 May 2018, entered into a Share Sale Agreement (the “Agreement”) for the disposal of 84,000 ordinary shares in its subsidiary, Perisai Kuasa Sdn Bhd (“PKSB”), which represents 60% of the issued and paid up share capital in PKSB (“Proposal Disposal”). The principal activities of PKSB are engineering services and technology services provider to the oil and gas industry. Upon completion of the Proposed Disposal, PKSB shall cease to be a subsidiary of the Company. 2.         INFORMATION OF PKSB PKSB is a company incorporated on 14 February 2013 under the laws of Malaysia. The issued and paid-up share capital of PKSB is RM140,000.00 comprising 140,000 ordinary shares. 3.         RATIONALE OF THE PROPOSED DISPOSAL Eversendai Group had decided to dispose its shares in PKSB as part of its rationalization to focus on its core business in line with the expectation of Eversendai Group’s stakeholders. 4.         FINANCIAL EFFECTS The Proposed Disposal is not expected to have any material effect on the earnings and net assets of Eversendai Group. 5.         ESTIMATED TIMEFRAME FOR COMPLETION The Proposed Disposal is expected to be completed within two (2) months from the date of the Agreement. 6.         DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS None of the directors and/or major shareholders in the Company and/or persons connected to them have any interest, direct or indirect, in the Proposed Disposal. 7.         DIRECTORS’ STATEMENT The Board of Directors of the Company, having considered all the relevant factors in respect of the Proposed Disposal, is of the opinion that the Proposed Disposal is in the best interest of the Company. This announcement is dated 4 May 2018.