Bursa Alert
Global Market
NewsHot Stock Mudajaya jumps 5.8% on proposed Indonesian power plant acquisition
Page 1 of 1
Hot Stock Mudajaya jumps 5.8% on proposed Indonesian power plant acquisition
by Cals Thu 07 Apr 2016, 01:07
- Hot Stock
[size=28]Mudajaya jumps 5.8% on proposed Indonesian power plant acquisition
By Tan Siew Mung / theedgemarkets.com | April 6, 2016 : 12:01 PM MYTKUALA LUMPUR (April 6):Mudajaya Group Bhd, which has recently been back on investors' radar screen, jumped as much as 8 sen or 5.84% to RM1.45 after the group said it may acquire the power plant business in Indonesia.
At 11.22am, the counter rose 6 sen or 4.38% to RM1.43, with 1.91 million shares traded.
Since the group announced on March 17 that its power business in India is ready to operate after years of delay, Mudajaya has climbed steadily, rising 26 sen or 22% from RM1.17 at the date of announcement.
Following a good start of its Indian power plant business, the group announced yesterday that its indirect 95%-owned subsidiary, PT Mudajaya Energi Indonesia, had signed a conditional agreement to buy 73.69% equity interest in PT HEIM.
The latter has a power purchase agreement with PT PLN (Persero) Wilayah Papua Dan Papua Barat, from PT Indomuda Satria Internusa.
Mudajaya, which was once a favourite among construction stocks, saw investors fleeing the stock as its independent power producer project in Chhattisgarh, India, was facing hurdles, and the group also fell into losses, reporting a net loss of RM61.61 million for the financial year ended Dec 31, 2014 (FY14).
For FY15, the group's net loss narrowed significantly to RM1.43 million, which may also be seen as a great improvement for investors.
[/size]
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Mudajaya’s Indonesian power plant starts ops
» Mudajaya’s Indonesian acquisition not exciting, says Alliance
» Mudajaya extends power plant LOI for Zelan (2283)
» Highlight Mudajaya bags RM55.5m job for Pengerang cogen power plant
» Mudajaya set to emerge main winner for power-plant construction, says CIMB Research
» Mudajaya’s Indonesian acquisition not exciting, says Alliance
» Mudajaya extends power plant LOI for Zelan (2283)
» Highlight Mudajaya bags RM55.5m job for Pengerang cogen power plant
» Mudajaya set to emerge main winner for power-plant construction, says CIMB Research
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum