Tuesday, October 8, 2019

Lin See Yan's take on our economy

I find that this morning's interview by BFM with Lin See Yan on the current state of the economy is pretty straight forward.

Here's the link.


Michael Lee said...

Hi Felicity,
WCE project cost has increased to RM6.69b, hence the equity that need to be injected in is RM1.56b.

Up to date, they have raised RM721m, means they have to raise another RM886m. The latest right issue is only able to raise about RM320m.

Do you think there will be another round of cash call for the remaining RM566m ?


felicity said...

hi Micheal

It is never confirmed the rights issue will cover all expenses. This round they are raising RM480m not RM320m.

There is potential to raise further - RM80 million, through the conversion of the convertible. As WCEHB only owns 80%, its portion is lower by 20%, not the amount you mentioned. WCE has options to tap on its other businesses to cover the shortfall if any. I think if it needs to further need funds, this exercise should suffice.