AdCoolParkson has dropped from RM4.70 back in Aug 2012 and now is trading at RM1.05 with first ever loss reported in its financial results and yet you guys still wanna support while what WC did was just to save his own ass and not about the company. What did you all see in PHB that I failed to see? Just because it's cheap?
ks55WC never use a single sen of his own money to support PHB share price. Probably he has no more money to carry out such operation.
Instead of share buy back with his own money or ah kong's (PHB) money, now he turns to LICB to buy PHB. So far LICB bought 4m PHB share through 100% owned AMSTEEL MILLS SDN BHD. http://www.bursamalaysia.com/market/listed-companies/company-announcements/4849957
Please take note LICB has just reported total loss of 252.6m for FYE Jun 2015. You should take further note that 644,217,000 of trade receivables from Megasteel and Lion DRI still classified as trade receivables without any impairment from full year FYE Jun 2015 of LICB report. These receivables can never be recovered and thus cause financial strain in LICB cash flow.
So do you think LICB is in position to buy more PHB shares in open market? LICB is also has to buy back its own share to prevent its share price fall to 20 sen (lowest 22 sen before share buy back by LICB itself).
RECURRENT RELATED PARTY TRANSACTIONS The aggregate value of transactions conducted during the financial year ended 30 June 2014 were as follows:
Sale of scrap iron, steel bars, wire rods, hot briquetted iron, billets and other related products to: 1. Lion Corporation Berhad Group (“LCB Group”) 650,661,000 2. Lion Diversified Holdings Berhad Group 59,672,000
Trade receivables The Group 2014 Non-Current Trade receivables 644,217,000 Less: Accumulated impairment losses (294,332,000) Net 349,885,000 Current Trade receivables 344,514,000 Less: Accumulated impairment losses (23,170,000) Net 321,344,000
Total trade receivables 671,229,000
Trade receivables from related party as of 30 June 2014, Megasteel 562,732,000 Lion DRI 81,485,000 Total 644,217,000
Past due but not yet impaired: Megasteel 298,164,000 Lion DRI 40,532,000 Total 338,696,000
So how much should be written off for FYE Jun 2015, take into consideration Lion Corp business has deteriorating much faster than 2014. Megasteel is a subsidiary of Lion Corp. Goodwill (130,443,000) has been allocated to the steel operations of the Group and has not been impaired. Why not impaired? ##################
uzi440bloody imbeciles. for so long do buybacks instead of addressing structural business issues. what golden fools. have to have a special award for such business idiots. Tony F of AirAsia fame can compete also.
ks55Having reason to believe PHB will breach 1.00 today. After which should attract forced selling and further depress PHB share to 90 sen.
Please don't respond if I don't know you. I like to syok-syok sendiri.