Citaglobal (former WZ Satu)

Citaglobal (former WZ Satu)

Postby winston » Mon Nov 03, 2014 9:46 pm

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Tengku Uzir raises stake in WZ Satu to 23.96%

KUALA LUMPUR (Nov 3): Tengku Datuk Uzir Tengku Datuk Ubaidilah, who is the chairman of WZ Satu Bhd (Financial Dashboard), has increased his equity stake in the company, which intends to venture into the oil and gas industry, to 23.96% from 23.12%.

A filing with Bursa Malaysia today revealed that Uzir had acquired an additional two million shares in the company at a price of RM2.40 per share, resulting in a total purchase consideration of RM4.8 million.

The acquisition, which was an off market transaction, has resulted in Uzir’s total shareholdings in the company now standing at 57.15 million shares, representing a 23.96% substantial interest.

WZ Satu made its maiden foray into the oil and gas business after it acquired Misi Setia Oil and Gas Sdn Bhd in July for RM27 million from Datuk Lim Kim Chong, Nor Zahid Mohd Hashim,Teoh Chee Yoong, Chong Kim Tham and Mohd Aris Mohd Arif.

The company’s initial core business is manufacturing and trading of precision cold drown steel bars

Its share price closed down seven sen today, giving it a market capitalization of RM540.4 million.

Source: The Edge
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Re: WZ Satu

Postby winston » Mon Nov 03, 2014 9:55 pm

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Tabung Haji buys 8.33% stake in WZ Satu

KUALA LUMPUR (Oct 31): Lembaga Tabung Haji emerges as a substantial shareholder in WZ Satu Bhd (Financial Dashboard), which is in the midst of venturing into the oil & gas industry, with an 8.33% equity stake.

According to the latest filing with Bursa Malaysia this evening, the pilgrim fund board had on Tuesday acquired 19 million shares through private placement at 84 sen apiece, or RM15.96 million in total.

The transacted price transacted was 67% lower than WZ Satu’s closing price of RM2.57 on that day.

Year-to-date, share price of WZ Satu rose more than RM1.60 or 210%, to settle at RM2.44 today, bringing its market capitalisation to RM556.3 million.

According to TheEdge Markets.com, the likelihood of corporate exercise for WZ Satu is high. Its risk score stood at four, on a scale of one to five, with five being the most volatile.

WZ Satu’s currently core business is manufacturing cold drawn bright steel shafting bars, as well as trading of other steel products including cut-to-size steel products.

Source: The Edge
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Re: WZ Satu

Postby winston » Tue Feb 19, 2019 9:13 am

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Trading Buy: WZSATU - 7245
(Last price: RM0.320, Potential upside +56.3%)

Company Profile
WZSATU involved in civil engineering and construction, oil and gas, manufacturing and bauxite mining.

Trading Catalyst

Water, Land and Natural Resources Minister Dr Xavier Jayakumar said that the mining and export of bauxite from Pahang (which ends on 31-Mar) would not be extended.

Hence, we believe with the uplifting of bauxite mining ban, we may anticipate the bauxite operators like WZSATU could warrant a strong upsurge in trading interest, setting a potential limit up opportunities.

To recap, in FY15, the mining segment garnered RM18.5m of profit after tax. In 4Q18, WZSATU has written off its mining assets amounted to RM14.4m and company management mentioned that it would write-back these impairments should there be an uplifting of bauxite mining moratorium and export ban.

Pahang Mining Operators Association vice-president Yap Soon Huat said Malaysia was losing out with the continued ban, adding that China now is importing up to 75% of its bauxite from Africa and Indonesia following the relaxation of Indonesia’s ore export ban in January 2017.

Also, he mentioned there was still 50-60m tonnes of bauxite left untapped in Kuantan. Should there be a revival following the uplift of bauxite mining in the future, it could reignite Kuantan’s economy moving forward.

Technical View
• Resistance: RM0.370 / RM0.400 / RM0.500
• Support: RM0.300 / RM0.295
• Cut loss: RM0.280

Source: Bloomberg, HLIB
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Citaglobal (former WZ Satu)

Postby winston » Thu Feb 09, 2023 10:20 am

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Jan 31, 2023

Citaglobal pitching for exclusivity for ECRL power supply

by Kamarul Azhar

The decision to award the Citaglobal-Reneuco joint venture (JV) the exclusivity still lies with ECRL’s project owner, Malaysia Rail Link Sdn Bhd (MRL), as well as the relevant authorities, such as the Energy Commission.

Decision could be reached within the next six to eight weeks.

The cost is not expected to be more than RM1 billion. The concession period that the consortium is looking at should be about the same as other IPP projects, around 21 years.

The consortium is looking at an internal rate of return in the mid-teens for the project to be bankable.

As at Dec 23, 2022, Norza owned 45.04% of Citaglobal.

Citaglobal turned profitable with a net profit of RM127,000 in the quarter ended Sept 30, 2021, and has been profitable ever since. In the nine-month period ended Sept 30, 2022, Citaglobal recorded a net profit of RM6.43 million.

Citaglobal is venturing into renewable energy (RE) as well as the telecommunications business.

Citaglobal has also partnered with Genetec Technology Bhd to leverage the latter’s battery energy storage system (BESS) that will be offered in its RE solutions.

Apart from the RE business, Citaglobal is also venturing into the telecommunications tower business, focusing on the deployment of 5G.

According to Norza, the group will offer a tower-sharing model to telcos, building towers only when there is a secured contract.

“We are just starting out; prior to this, we were in the fiberisation business. For a start, we are going to roll out 50 to 100 towers in 2023 and 2024” .

The group is looking to raise another RM60 million to RM70 million through private placements and issuing debt paper.


Source: The Edge Malaysia

https://www.theedgemarkets.com/node/652775
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Re: Citaglobal (former WZ Satu)

Postby winston » Thu Feb 09, 2023 10:26 am

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3Q Results

Revenue: -14%; RM 54m
EPS: -37%; RM 2m
Net Asset: RM 0.16

https://www.bursamalaysia.com/market_in ... id=3308903
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Re: Citaglobal (former WZ Satu)

Postby winston » Wed Feb 15, 2023 12:27 pm

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Citaglobal major shareholders' stake little changed at 50.23% after close of MGO

by Chester Tay

December 20, 2022

KUALA LUMPUR (Dec 20): Citaglobal Bhd major shareholders' stake in the group remains at 50.23% after the close of their mandatory general offer (MGO).

Only 17,365 shares, or less than 0.01% of the group's total share base, were sold to the offerors, namely TIZA Global Sdn Bhd, Tan Sri Mohamad Norza Zakaria and persons acting in concert, according to Citaglobal's stock exchange filing on Tuesday (Dec 20).

This raised the offerors' collective shareholdings in the group to 943.32 million shares from 943.31 million. In terms of percentage, however, the major shareholders' stake remains at 50.23%.

The offerors had earlier stated that they intended to maintain Citaglobal's listing status.

Meanwhile, the offerors saw no acceptance for their offers to buy up Citaglobal's irredeemable convertible preference shares (ICPS) and the remaining units of Warrant A.

The offerors own 15 million ICPS, equivalent to 46.07% of the total, and do not own any Warrant A.

Meanwhile, only 375 units of Warrant B were sold to the offerors at three sen each, leaving their holdings largely unchanged at 23.23% or 14.85 million warrants.

In June, Citaglobal signed a conditional agreement with TIZA Global to acquire Citaglobal Engineering Services Sdn Bhd for RM140 million, via the issuance of 736.84 million new shares in Citaglobal at an issue price of 19 sen each.

The agreement became unconditional on Nov 8, increasing the offerors' collective shareholding from 18% to slightly over 50%, triggering the MGO.

The offer price of 19 sen per share represented a 37% discount to 30.15 sen, the five-day volume weighted average market price of Citaglobal shares up to Nov 7, a day before the takeover offer was announced.

Citaglobal's shares, which were trading at 30.5 sen on Nov 7, came under pressure subsequent to the takeover offer, trending downwards to as low as 23 sen on Nov 17, before paring losses gradually in the following weeks.

On Tuesday, the stock settled half a sen or 1.79% lower at 27.5 sen, giving the group a market capitalisation of RM516.41 million.

Source: The Edge

https://www.theedgemarkets.com/article/ ... d-lukewarm
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Re: Citaglobal (former WZ Satu)

Postby winston » Wed Mar 01, 2023 7:25 am

vested

Citaglobal records net loss of RM47.3mil on impairment of goodwill

Net loss of RM47.3mil for the fourth quarter ended Dec 31, 2022 (4Q) due to a “one off” impairment on goodwill.

Revenue in 4Q rose 27.3% to RM72.5mil this quarter as compared to last year’s corresponding quarter.

For the full year, Citaglobal posted a net loss of RM40.9mil on revenue of RM215.4mil.

Excluding the “one off” goodwill impairment, Citaglobal would have registered a profit before taxation of RM2.0mil and RM8.8mil respectively for 4Q and full year of FY22.

As at Dec 31, Citaglobal has a cash and bank balances of RM81.0mil, down slightly from RM85.4mil as at the end of last year.

Citaglobal has a firm orderbook of RM733.2mil in hand and is bidding for RM1.67bil worth of jobs


Source: The Star

https://www.thestar.com.my/business/bus ... f-goodwill
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Re: Citaglobal (former WZ Satu)

Postby winston » Tue Mar 07, 2023 6:44 am

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Citaglobal wins RM200mil Sanglang Project EPC contract

With this award, Citaglobal’s existing orderbook will increase to RM933.2mil from RM733.2mil previously.

The full development of the Sanglang Project is divided into four phases, which are Phase 1A, Phase 1B, Phase 2 and Phase 3.

The contract sum of Phase 1A is RM200mil, while the contract sum for the other phases have yet to be determined.


Source: The Star

https://www.thestar.com.my/business/bus ... c-contract
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Re: Citaglobal (former WZ Satu)

Postby winston » Tue Mar 07, 2023 7:02 am

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Citaglobal to develop jetty in Perlis; first phase contract sum is RM200m

by Priyatharisiny Vasu

Our successful completion of Phase 1 of the Kedah Rubber City project could have been one of the factors in earning us the credentials to undertake this important project.

This is the second project won by Citaglobal in Perlis in less than six months.

On Aug 30, 2022, Citaglobal bagged a RM373.5 million contract to construct Phase 1 of the Perlis Inland Port.


Source: theedgemarkets.com

https://www.theedgemarkets.com/node/657978
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Re: Citaglobal (former WZ Satu)

Postby winston » Tue Apr 11, 2023 2:06 pm

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Citaglobal-Genetec JV launches Malaysia’s first locally produced battery energy storage system

by Syafiqah Salim

Citaglobal Genetec BESS Sdn Bhd, a 50:50 joint venture (JV) between Citaglobal Bhd and Genetec Technology Bhd, on Tuesday (April 11) unveiled its fully operational 1MW BESS prototype (MYBESS), the country's first locally developed and produced battery storage system.


Source: theedgemarkets.com

https://www.theedgemarkets.com/node/662928
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