Arkan research

[shares queen]

I had a trip from Sahrjah to Abudhabi and i thought that i will pay a visit to Arkan’s industrial plot on the truck road between abudhabi and al ain, to make sure that arkan is investing my money in a good way. unfortunately i was shocked from what i saw in their plot. There is only one factory ( new cement factory), and it’s still under construction until now !?, so i thought that i have to do a small research about arkan and its projects, and here what i found which shocked me more :

1- Dry mortar plant:
Machines cost is 4.9 mill / euro, “ from ADX on 9 / 10 / 2007 “
after (2) years ! No factory beside the new cement factory, as they mentioning in their official web site, It’s sand dunes only, SO are they misleading us, or they shifted the plant to another place and they didn’t announce it. ! ?

2- (30 years old ) cement factory in al ain:
They said in their letter signed by the chairman Mr. al amry ( from ADX ), that this plant is facing some losses due less demand of cement ! while they signed an MOU with al dar ( which has around 60 bill / dhs projects ) to be one of al dar major supplier “ from ADX MAY / 08”. So where the low demand came from ! ?

[i]3- Two cement block plants in abudhabi & al ain:
[/i]Costs around ( 70 mill / dhs) “ from ADX July / 07” to be ready in the 2nd quarter 08, and nothing in al ain except sand dunes. Fortunately !!! they where wright about abudhabi plant, but it’s not finished yet after (two years !!!!).

4- Arkan urbina LLC :
They formed a JV company with urbina spain “ from ADX November / 08 “, to trade in scaffolding, then to set a plant to manufacture it.
As usual no information in their financial statement about the trading, and no plants in their plots ( abudhabi and al ain) ! ?

5- Arkan - alumco ( MOU ):
From “ ADX July / 08.
No information about the deal in al amri ( the chairman ) letter to the stock market authorities . ! ?
No plant in their plots

6- Arkan industrial park :
Designing agreement with stanley “ from ADX, October / 07”.
This project had been written off in the 1st arkan’s new board meeting ( March / 09) ! ?. As far as i know abudhabi is targeting to be a major industrial hub in the region , and arkan is canceling a specialized building materials industrial project ! ? HOW THEY ARE THINKING ? I HAVE NO CLUE.

7- New cement factory:
Cost: 1.3 bill /dhs ( arkan’s CFO - al khaleej times ).
He said: the factory will be ready in the end of this year ( 2009), now we are in (mid of November 2009), from what i saw, i doubt that they will finish it on time, which means that the factory income will delay further more, which will affect arkan’s financial results ( BIG TIME).

I don’t know what shall i name what arkan’s new management is doing or behaving toward share holders or the stock market ? ( JUST NAME IT YOURSELF ), but I'm sure that it will not be a ( GOOD WORK OR WELL DONE) , now i started to understand why arkan is one of few companies which are loosing in the past ( 3 Qs).
This is what i found in the official channels, and god only knows what’s hidden inside arkan’s walls.

i.e. / The new chairman is the CEO of GHC which is arkan’s ( mother company).

i.e. / No good news released from the company since the election of the new board, SO in my opinion arkan’s major shareholders shall monitor the company’s management and board members performance VERY CLOSELY at least for the coming year, because all indications says that they are not capable of running such a company specially in the current time wheres abudhabi is moving in a light speed, and arkan is moving in a turtle speed.

[Novice_investor]

[shares queen]

Thanks Novice

I did it cos i have the wright to look after my invesment. Specially with whats going on in ARKAN, which is not logic. what i meen that a pjsc company has no projects for more than a year ( it is somthing upnormal).

I have to know where is the board of this company, where is the management, why they are keeping silent while they are spending our invesments in something we don't know, anad every quarter they announcing a LOSS " proudly". why they are not transparent in their projects, why they are saying that they are working, while they are doing nothing:twisted:

As i wrote before no projects hadbeen started, why they are saying everything is alwright while they are doing nothhing.

What really upsets me is their official site, which gives you an impresion that they have some factories, but they don't

As i wrote before they are missleading shareholders & the market, and a quick responce has to be there, to protect our invesments.

[shares queen]

As usual everything is stand still !

[J.R.]

Shares queen

Well done, really im astonished
you did your homework perfectly

[J.R.]

Shares queen

mmmm

You are pushing ARKAN hardly

[shares queen]

Guys

If you want to know reasons of ARKAN losses and and strange moves.

Please refer to ( ARKAN merging vs P.Park ), written by JR