I bought some today.

Their cashflow could be a problem, any inf from your end ?

I guess you are right. In additions :-

I compute based on latest unaudited reports of LCL as at 30/9/08 and the results as follows :-

Sales for 9 months = 349m , almost double of last year, could be good or bad in a declining ecoonmy.

Gross up the sales to 12 months = 465m ( estimated )

Amount due from customers for contract works 257m ( as per LCL financial reports from Bursa )

The estimated credit period is 257/465 X365 = 6.7 months. This shows that there is improvement to their collection period. And 6 months in construction line is quite common in Malaysia even for Govt projects ( but their projects are in Arab countries ). Not comparing apple to apple.

I also notice KNM's collection period is also close to 6 months ( I Do not accuse that it is bad ).

But I have no further info i.e the breakdowns of items appeared in Balance Sheet.

Receivables, deposits and prepayments 285m ( another piece of imp info )

And for projects financing for constructions, also quite diff from normal loans, bcos no one just issues more shares to undertake a project. Under capital is also no good.

The point is to put LCL under the same roof or to link it to Megan is grossly unfair to many forumers. Remember most forumers do not study the figures. You could be saying something unintentionally that could be taken in wholesome as true.

Correct me if I am wrong.

Glad if more forumers could provide more facts and figures , rather than based on his or her mere accusations especially if one is involved in giving advices on the trading of shares.

http://www.klse.com.my/website/bm/listed_c.../historical.jsp

This post has been edited by SKY 1809: Feb 7 2009, 12:44 PM

Thank for your interesting data.

But why the report is dated 6/2/ 2008, one year outdated ?

Eyeing on Zelan now.

I used to have high regards for Temasek, and yet many things could go wrong in the present abnormal time.

http://www.btimes.com.my/Current_News/BTIM...icle/index_html

Well, sometimes you could put yourself into the shoes of the workers, where generally the workers complain of unfair treatments they have from the management.

Or you can put yourself into the shoes of the management, that is to bring up the values of the company, the objective in mind.

The workers could be right anyway. The manager's job though better paid but not easy either.

I guess it is what this forum about.

This post has been edited by SKY 1809: Feb 7 2009, 04:11 PM

We are not saying that you are wrong, sorry for that.

Just the analyst is half hearted, probably a pay cut is on his mind.

We just worry that he or she could miss out more imp figures , that is it. I also realise most analysts do not analyse the cashflows of the companies concerned, many forumers may want to know. Also usually changing the calls for strong buys, to hold or to sell in very short time.

We all know that you have the good intention.

Thank for that.

Good Luck.

This post has been edited by SKY 1809: Feb 7 2009, 09:36 PM

But yesterday goreng was more on the blue chips like KLK , PBB and IOI.

Maybe

Electricity tariffs cut from March 1

http://thestar.com.my/news/story.asp?file=...0100&sec=nation

Also US Government may make certain changes to " accounting standards" , that allow banks to keep the bad loans as assets, without writing off.

If that is so, banks could report better profits in the next Q, without touching the bad loans first. Dow could go back to 9000++.

Exceptional solution for exceptional time like this.

This post has been edited by SKY 1809: Feb 7 2009, 07:25 PM

So long, the whole world does not doubt that it is " TOXIC MONEY" , it is fine.

Otherwise, US $ soon becoming toilet papers.

Credits could be given to those involve in the FOREX TRADES , that create values for the US $.

This post has been edited by SKY 1809: Feb 9 2009, 06:25 PM

Mari mari Kinstel.

go go go

This year - your golden year

I bought LCL at 46sen and sold at 46.50sen.

After looking at their mountains of ( LCL ) debts, I just cut loss and give up.

Cahflow is a major problem.

I stick to my Kinstel, up bit by bit only.

This post has been edited by SKY 1809: Feb 11 2009, 12:58 PM

Kinstel, seems like getting stronger each day.

Happy about it since it is a "winter" stock.

This post has been edited by SKY 1809: Feb 11 2009, 01:08 PM

Zelan...

is waiting for its turn to be goreng.

NEWS FROM MY BROKERS , just in case you are interested.

For reference only. Not asking you to buy.

-----------------------------------------------

LCL Corporation – RM154m Tiara Tower contract cancelled (Company Update)



Price: RM0.465

Target Price: RM1.55

Recommendation: BUY



l Zabeel Investments, owner of Tiara United Tower cancel plans for hotel. Given the current market scenario in Dubai, Zabeel has decided to alter the use of Tiara United Tower to an Office from the proposed hotel.



l As such, they have terminated the AED156m (RM154m) interior fit-out contract with LCL. LCL has received AED39m or 25% advance payment for the job and has received subsequent payments based on monthly progress claims.



l Full payment for all contract sums spent to date. Arabtec the main contractor has re quested LCL to submit the final payment claim for all cost spent to date.



l Possible upside if the building materials acquired is used for another job. We have checked that LCL has not commenced significant fabrication work and has just bought the building materials for the job. As such, if the building material is reused for other jobs, the profit margins for the new jobs will be substantially higher.



l LCL is not expected to make losses from this project. With full compensation, LCL is not expected to suffer any losses but the recognition of revenue and profit will be lower than the earlier forecast of RM1 47m.



l We are lowering FY09E net profit forecast by 13.4% to RM44.2m from RM51.1m assuming the partial loss of the contract which was scheduled to be completed in July 2009.



l We estimate that the earlier orderbook of RM954.2m is now reduced to RM807.2m with RM536m remaining unbilled. LCL is still bidding aggressively for jobs in the Middle East and its reach into Abu Dhabi and Bahrain should provide better opportunities and hedge against a slowdown in Dubai. As most the major main contractors in Dubai are adopting the same strategies, LCL would have a shorter start-up time in these new countries given the familiar main contractors that they will be dealing with.



l Maintain BUY with a lowered target price RM1.55 using the regional IFO companies’ FY09 PER of 5x and FY09E EPS of 30.9sen. LCL trades attractively at 1.7x and 1.5 x FY0 8E and FY09E PER respectively.

For those miss Gamuda,

Next chance could be Zelan.

Judge your own. Not responsible for your trading loss.

Should touch 90sen in coming days ( 1/3 )

Ya lah 80.5 to 81sen.

I like its balance sheet, cash and shares in IJM. Little or no borrowings.

This post has been edited by SKY 1809: Feb 13 2009, 12:03 PM

He does not want to become millionaire too young and too soon, maybe 5 years later

I thought the co lost lot of money

OK lah, Tambung Haji co won't go bust.