Eversendai returns to the black in 1Q TheStar Mon, May 29, 2023 09:06pm - 15 hours
KUALA LUMPUR: Eversendai Corp Bhd is optimistic of its future prospects but remains cautious of the global geopolitical and economic uncertainties.
“With the group’s strong order book of RM1.9bil and comprehensive reorganisation exercise undertaken with a strong focus on optimisation of costs and improving efficiency in its operations, the group believes that the path of recovery is in motion.
“The group is also in the process of restructuring its borrowings to strengthen its liquidity position,” Eversendai said in a filing with Bursa Malaysia.
Eversendai foresees increased utilisation of all the fabrication facilities with the existing order book and highly potential iconic projects in the tender book and ultimately improving its profitability.
Eversendai Corporation Berhad Signs Memorandum of Understanding with Algihaz Holding Construction to Form New Joint Venture Company October 12, 2023 at 09:10 am EDT Share Eversendai Corporation Berhad signed a Memorandum of Understanding (MOU) with Algihaz Holding Construction, a very well established Group in Saudi Arabia to form a new joint venture company, named Eversendai Algihaz Structures LLC to spearhead Eversendai growth forward.
"the company said the projects in the pipeline, when awarded, will contribute positively to the group." =======================
"When awarded" So it is not awarded yet, but punters are already betting. Until there is no payment for project completion, treat it carefully because this is a KAPIR company. Anything can happen, even taken for a ride under "receivables".
Eversendai Corp Bhd shares rose as much as six sen or 34% to a two-year high of 23.5 sen on news that it has inked a Memorandum of Understanding (MOU) with Saudi-based conglomerate Algihaz to form a joint venture to execute structural steel projects in Saudi Arabia. The Middle East represented 72.2% of Eversendai’s operational revenue in the first half ended June 30, 2023 (1HFY2023), with segment revenue of RM573.87m and pre-tax profit of RM25.37m. (The Edge)
Eversendai Corp Bhd made a break out of its trading channel yesterday to extend a short-term uptrend on strong buying interest. The counter's trading volume surged to its highest in nearly three years while the share price arrived at an intra-day high of 23.5 sen.
The break out could see the start of a recovery towards a resistance of 35.5 sen, and higher still to 45.5 sen.
The technical indicators are robust with the slow-stochastic remaining healthy at 70 points while the 14-day relative strength index is overbought at 79 points.The daily moving average convergence/divergence (MACD) line, meanwhile, has spiked higher at a sharp angle, signalling strong bullish momentum.Support can be seen at 13.5 sen and nine sen.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....