Highlights

THE INVESTMENT APPROACH OF CALVIN TAN

Author: calvintaneng   |   Latest post: Thu, 27 Jun 2019, 11:00 PM

 

DOLOMITE(5835) UP 143% DUE TO ASSET SALE WILL ASB(1481) GO UP LIKEWISE BY ASSET SALE, Calvin Tan Research

Author:   |    Publish date:


Hi guys,

Dolomite (a loss making company) suddenly jumped in price by a whopping 143.75% From 8 SEN TO 19.5 SEN Due to One Off Asset Disposal

See

DOLOMITE CORPORATION BERHAD

 

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
DOLOMITE CORPORATION BERHAD ("DOLOMITE" OR "COMPANY")

PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN DOLOMITE GRANITE QUARRY SDN BHD TO SUNWAY HOLDINGS SDN BHD ("PROPOSED DISPOSAL")

On behalf of the Board of Directors of Dolomite, M&A Securities Sdn Bhd wishes to announce that Dolomite Industries Company Sdn Bhd (“DICSB”), a wholly-owned subsidiary of Dolomite, had on 3 June 2019 entered into a share sale agreement with Sunway Holdings Sdn Bhd (“SHSB”), a wholly-owned subsidiary of Sunway Berhad for the proposed disposal by DICSB of 100% equity interest in Dolomite Granite Quarry Sdn Bhd (“DGQSB”) comprising 100 ordinary shares for a total disposal consideration of RM125,000,100 comprising a cash amount of RM100 together with advances by SHSB to DGQSB of RM125,000,000.

 

See Dolomite latest quarter result

 

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2019

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Mar 2019
31 Mar 2018
31 Mar 2019
31 Mar 2018
$$'000
$$'000
$$'000
$$'000
1 Revenue
6,375
0
39,585
0
2 Profit/(loss) before tax
-3,488
0
-17,694
0
3 Profit/(loss) for the period
-5,389
0
-21,348
0
4 Profit/(loss) attributable to ordinary equity holders of the parent
-5,389
0
-21,348
0
5 Basic earnings/(loss) per share (Subunit)
-1.89
0.00
-7.49
0.00
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
0.0800
0.1500

Remarks :
Following the change in financial year end of the Company from 31 December to 30 June, the last set of audited financial statements is for a period of 18 months from 1 January 2017 to 30 June 2018.  Accordingly, there are no comparative figures to be presented for the current financial year ending 30 June 2019.

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
 

Country Base Unit Subunit
Malaysia Ringgit Sen
United States Dollar Cent
United Kingdom Pound Pence

 

THE ABOVE TABLE SHOWS DOLOMITE HAS A SMALL REVENUE OF ONLY RM6.3 MILLIONS

A LOSS OF -1.89 SEN

A SMALL NAV OF ONLY 8 SEN

 

THEN HOW COME THE SHARE COULD SURGE BY 143.75% FOR AN 11.5 SEN GAIN?

 

HA! THIS SHOWS THAT WHAT PETER LYNCH, BEN GRAHAM AND WALTER SCHLOSS  TAUGHT ABOUT ASSET PLAY IS TRUE

DOLOMITE DISPOSED A LEASEHOLD QUARRY LAND FOR RM125 MILLIONS OF WHICH THERE IS A PROFIT OF 21 SEN

 

SO IS THE PRICE RISE JUSTIFIED?

 

WITH NTA OF 8 SEN AND A ONE OFF ASSET DISPOSAL DOLOMITE LOOKS LIKE OVERVALUED FOR NOW AS ITS NTA SUPPORT AND FUTURE PROFIT ARE STILL WEAK

BUT THE CASH OF RM125 MILLIONS WILL UNLOCK VALUE

 

NOW LOOK AT A POTENTIAL STOCK WITH BETTER FUNDAMENTAL THAN DOLOMITE

 

SEE ASB LATEST QTR RESULT

 

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2019

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Mar 2019
31 Mar 2018
31 Mar 2019
31 Mar 2018
$$'000
$$'000
$$'000
$$'000
1 Revenue
63,278
65,813
63,278
65,813
2 Profit/(loss) before tax
-3,202
-2,154
-3,202
-2,154
3 Profit/(loss) for the period
-4,606
-3,609
-4,606
-3,609
4 Profit/(loss) attributable to ordinary equity holders of the parent
-4,703
-3,994
-4,703
-3,994
5 Basic earnings/(loss) per share (Subunit)
-0.51
-0.47
-0.51
-0.47
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
0.4550
0.4540

 

AS YOU CAN SEE FROM THE ABOVE ASB'S REVENUE IS RM63 MILLIONS (10 TIMES MORE THAN DOLOMITE)

IT ALSO REGISTERED A SMALLER LOSS OF -0.51 THAN DOLOMITE

ITS NTA IS 45 SEN WHICH IS 5.6X MORE THAN DOLOMITE

SO FROM ALL ANGLES ASB HAS BETTER FUNDAMENTAL THAN DOLOMITE

 

NOW LOOK AT ASB ASSET DISPOSAL

ADVANCE SYNERGY BERHAD

 

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ADVANCE SYNERGY BERHAD ("ASB" OR "THE COMPANY") 
Proposed disposal of all that piece of freehold land held under GRN 177486, Lot 38271, Pekan Baru Hicom, Daerah Petaling, Negeri Selangor together with the buildings as well as fixtures and fittings erected and affixed thereon

The Board of Directors of ASB (“Board”) wishes to announce that its indirect wholly-owned subsidiary, AESBI Power Systems Sdn Bhd (Company No.: 336668-T)(“Vendor”), had on 10 May 2019 entered into a conditional Sale and Purchase Agreement (hereinafter referred to as “SPA”) with Symphony Warehouse Sdn Bhd (Company No. 1322075-V)(“Purchaser”) for the proposed disposal of all that piece of freehold land held under GRN 177486, Lot 38271, Pekan Baru Hicom, Daerah Petaling, Negeri Selangor (the “Land”) together with that the buildings and structures erected on the Land and fixtures and fittings (excluding those which are listed by the Vendor and given to the Purchaser prior to completion of the SPA) erected and affixed thereon (collectively, the “Property”) for a cash consideration of Ringgit Malaysia One Hundred and Twenty Four Million (RM124,000,000) only (“Purchase Price”), subject to the terms and conditions as stipulated in the SPA (“Proposed Disposal”).

 

HA! DID YOU NOTICE THAT

DOLOMITE SELLING ITS LEASEHOLD QUARRY LAND FOR RM125 MILLIONS

ASB SELLING ITS PRIME FACTORY LANDS IN SHAH ALAM FOR RM124 MILLIONS

ASB WILL GET 12 SEN GROSS WITH A NET PROFIT OF 8.3 SEN

 

DO YOU SEE THE HUGE PRICE DISCREPANCY? MR, MARKET HAS CHASED UP DOLOMITE SHARES INTO GROSS OVER VALUATION WHILE IT HAS CARELESSLY OVERLOOKED THE DEEP VALUE OF ASB

 

HENCE THERE IS GREAT OPPORTUNITY TO BUY ASB AT 13.5 SEN NOW

 

HOW COULD CALVIN AND HIS BUDDIES MISS?

 

BEST REGARDS

 

Calvin Tan Research

Please buy/sell or keep Cash after doing your own due diligence

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Labels: DOLMITE

Related Stocks

Chart Stock Name Last Change Volume 
DOLMITE 0.18 -0.005 (2.70%) 417,800 

  share4u2019 likes this.
 
share4u2019 Tomorrow I will buy ASB as much as possible
07/06/2019 1:11 AM
shortinvestor77 0.25 cents div every year while net loss.
07/06/2019 8:58 AM
calvintaneng Good morning

No. No net loss

It shows operating loss but ACTUAL NET NET IS GAINING YEAR AFTER YEAR

WHY LEH?

BECAUSE IT KEEPS ON INVESTING AND ROTATING INTO HARD ASSETS

THESE HARD ASSETS HAVE GONE UP IN NET VALUE ON 2 COUNTS

1) AFTER BUYING THESE ASSETS MANAGEMENT ADD VALUE TO IT

EXAMPLE IS DAIMAN

DAIMAN BOUGHT THE LANDMARK BUILDING IN JB CBD FROM JB HIGH COURT AUCTION I THINK FOR RM100 MILLIONS

THEN DAIMAN SPENT ANOTHER RM100 MILLIONS TO REFURBISH IT INTO DAIMAN OFFICE (ONE BLOCK) AND ANOTHER BLOCK INTO DOUBLE TREE HILTON HOTEL

BUT THE EXTRA RM100 MILLIONS (FOR RENOVATIONS) BOOKED AS EXPENSE (A LOSS)
AND NOT REPORTED IN THE BOOK VALUE

SO RM100 MILLIONS (HIDDEN VALUE) ONLY COMPANY KNOWS AND NOT SHAREHOLDERS

THEN DAIMAN BOSS TOOK IT PRIVATE FOR A SONG


2) ASB SITTING ON GOLD MINES AS ASSETS ARE NOT YET REVALUED JUST LIKE MUI GROUP

NOW JUST ONE PROPERTY (BOOK VALUE RM31 MILLIONS) AFTER SELLING REVEALED A MARKET VALUE OF RM124 MILLIONS (PROFIT OF RM83 MILLIONS) OR 8.3 SEN

THIS WILL BE REFLECTED IN COMPANY ANNOUNCEMENT WHEN CASH IS RECEIVED

SO LOOK BEYOND SURFACE OPERATING LOSSES

LEARN TO LOOK DEEPER
07/06/2019 10:05 AM
calvintaneng Another great investment of ASB is Captii Bhd listed in Singapore

See

https://simplywall.st/stocks/sg/tech/sgx-awv/captii-shares/news/could-the-captii-limited-sgxawv-ownership-structure-tell-us-something-useful/


Just as Singpore Sunright owns Malaysia KESM

ASB of Malaysia owns 58% of Singapore Captii Limited

https://simplywall.st/stocks/sg/tech/sgx-awv/captii-shares/news/could-the-captii-limited-sgxawv-ownership-structure-tell-us-something-useful/

http://www.asb.com.my/info_commtech.html
07/06/2019 10:11 AM
calvintaneng For more information on the Captii group, please visit the Captii group website: www.captii.com
07/06/2019 10:15 AM
calvintaneng For more information on the Captii group, please visit the Captii group website: www.captii.com
07/06/2019 10:17 AM
calvintaneng See Calvin's comments in Daiman before it was taken private at Rm3.00

https://klse.i3investor.com/servlets/stk/5355.jsp

ASB is another candidate to be taken private above 30 sen one day

Even at 30 sen for privatization ASB will still be undervalue
07/06/2019 10:30 AM
calvintaneng Shortsighted investor

See how Mui Bhd never given dividend for upteen years yet price going up

Also Lafarge cement making losses price still going up above Ytl offer price of Rm3.75?

So at least Asb is giving out a small dividend

Plus Asb's 58% owned Captii LTD in Singapore is giving a nice 3.1% dividend

So Asb is a much better company think people think
07/06/2019 1:12 PM


 

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