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Dialog’s asset write-offs and impairments and EPCC provisions in 2QFY25 draw a line underneath its past business missteps. Dialog only has two legacy EPCC projects left and they are currently undergoing commissioning; it is unfortunate that nasty surprises turnedup even at this late stage. Nevertheless, Dialog said it has provided for all foreseeable EPCC losses until these two projects are handed over to their respective clients by Jun2025F. After this, Dialog does not foresee itself engaging in any further external EPCC jobs; hence, we do not expect any further EPCC losses from 1 Jan 2025 onwards.(CGS CIMB)
The loss after tax reported in the current financial quarter was mainly due to one-off impairment of investments in petrochemical and renewable projects, and EPCC projects cost overruns
By making this strategic decision, the Group will be able to realign its focus back to its core business, positioning the Group for long-term growth and resilience.
the continued volatility and challenging global chemicals market, and the uncertain macro-economic environment, has led the Group to make the strategic decision to discontinue this project.
● To investors who have purchased MAHB shares with the intention of tendering the
shares to the joint offerors for RM11, we recommend calm and confidence that the offer
will ultimately succeed. Given the views of the independent directors, we think that the
most likely scenario is for the joint offerors to achieve at least 75% interest but fall short
of the 90% threshold; this may lead to a slight increase in the offer price to induce the
remaining minorities to accept the offer. Our second-most likely scenario is for the joint
offerors to achieve at least 90% interest. Our third scenario is if the joint offerors achieve
close to 75% stake; we then also expect a modest uplift in the offer price and for the
joint offerors to say that they do not intend to address any shortfall in the 25% public
spread requirement, which is a condition for MAHB to remain listed; this could
encourage the minorities to accept the offer if they do not want to hold unlisted shares
in MAHB. The upside risk to our Hold call is for an uplift in the offer price in the first and
third scenarios above. The downside risk is a fourth scenario whereby minorities
wholeheartedly reject the offer, leading to the joint offerors abandoning their effort to
privatise MAHB; this could cause the share price to correct significantly, in our view.(CGS CIMB)December 23, 2024
if you use moomoo to buy this stock, you can directly accept the corporate offer in ALL>Tender Offer ,if it didn't shown up,try to click Past and click back to In Progress,it will show the offer