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Agree. Sell Excalibur. More than 4 year running idle in Avalon & Pilot Field. USD85mil free up capital. Move onto East Coast & East Malaysia. Excalibur off to MMHE Pasir Gudang. Good decision Vinnie!!!!
@Kim Hock Goh, this has nothing to do with stupidity. Its an opportunity. A new market. E&O doesnt have to worry about BNM OPR or US Fed ineterest rate policy or any increase / hike in interest rates. Also, this shows E&O have a lot of cash and able to guarantee they can payback. And, this put E&O on a strong footing.
There are many requirements any company needs to get syariah complaint certification. Other than no company involve forbidden things like alcohol, gambling, E&O has to show that their Debt to Asset ratio is lower or as the same as 0.33 or their total debt is below 33% of the Total Assets. E&O already a Syariah compliant last year. This means they do no gain income from selling alcohol or gambling in their business. They have Total Debts which disqualify them from getting Syariah status. Now, all they need to do is, they withdraw their sukuk if they need money to expand their business or develop lands e.g. Bukit Kerayong and prime land locations in Kuala Lumpur e.g. Jalan Kia Peng. When their use sukuk instead of bank loans, E&O actually let those who buys E&O sukuk to become E&O's partner. KWAP/EPF see E&O as not a company like Heneiken or Genting or RGT or YTL.
At this price, its a bargain. Watch closely. If there's still selling, ask for lower price. Buy when buying starts again. At the moment, its Sell on News thing. It will take a day or two when market realised CTOS might have found their way through.
@Por Gmail, There is some new strategic initiatives launched by the COMPANY. Lets see where it will take the COMPANY from here. Some of us are strategic investors. We dont give attention to these kind of remarks.
