fengtzekai who are you? I follow what i3 sifu KC Chong teach me.

Dentist I refer to dummy posting(3 posts before myself in this thread) and many i3 sifus said high debt company is not good.

RM 483.5 million net debt. Bankrupt possible.

Who flag me? If acct true why dividend 1 sen only?

One day show for you to run. If good why need your money(right issue)?

A bankrupt candidate. Better run.

INTERIM FINANCIAL STATEMENT
UNAUDITED STATEMENT OF FINANCIAL POSITION AS AT 30TH SEPTEMBER 2015
Audited
30 September 2015 31 December 2014
RM'000 RM'000
ASSETS
Non current assets
Property, Plant & Equipment 770,885 668,000
Investment in associated companies 220,224 210,549
Goodwill on consolidation 28,716 28,716
Deferred tax assets 1,605 11,559
1,021,430 918,824
Current assets
Inventories 259,101 151,446
Trade receivables 206,198 230,898
Tax recoverable 601 4,019
Other receivables 29,191 35,999
Cash & bank balances 181,027 131,932
676,118 554,294
TOTAL ASSETS 1,697,548 1,473,118
EQUITY AND LIABILITIES
Share capital 340,077 340,077
Minority Interest (1,169) (1,083)
Reserves 714,860 605,088
Shareholders fund 1,053,768 944,082
Non current liabilities
Long term borrowing 118,737 146,099
Deferred tax liabilities 33,176 42,719
151,913 188,818
Current liabilities
Trade payables 83,222 74,876
Other payables and accrued expenses 50,794 43,876
Short term borrowing 354,256 206,467
Provision for taxation 3,594 1,458
Dividend payable - 13,541
491,866 340,218
TOTAL EQUITY AND LIABILITIES 1,697,548 1,473,118
Net Asset per share @ RM 0.50 per share * 1.55

I see Supermax has more debts than cash. Why nobody aware? If follow KC Chong course Supermax should be avoided.

IW City has high gearing and no dividend. Even paperplane2016 warn of high gearing in Comcorp. Why IW City is spared?

When in high debts over RM 3 billion finance cost become high as well.

Condensed Consolidated Statement Comprehensive Income
Individual Quarter Cumulative Quarter
3 months ended 9 months ended
In RM’000 Note 30.9.2015

Finance costs (44,464)

Condensed Consolidated Statement of Cash Flows
9 months ended
In RM’000 30.9.2015
Interest paid (126,848)

16. Group borrowings
The tenure of the Group borrowings classified as short and long terms are as follows:
As at
As at
30.9.2015
31.12.2014
RM'000
RM'000
Secured
Short term
763,566
1,240,521
Long term
2,147,714
2,293,140
Unsecured
Short term
150,000
150,000
Total
3,061,280
3,683,661

Pity those who believe analysts TP to buy high.
http://klse.i3investor.com/servlets/ptg/1651.jsp

Meaning state govn has yet to approve reclamation work? HakChai any proof that LGE has approved like Ivory? How much land can E&O reclaim?

mightymouses Yes anti_debt, E&O will start reclamation work illegally in December 2015. Hahahaha

At first I was thinking Erwin going to inject Permanis into Msports. However Lin Huozhi the founder is not letting go Msports easily. Interesting fight ahead among top 2 shareholders to be seen?

Loopy when a counter is cheap like Msports no need expansion. Important is Msports having high revenue and continue to be profitable. Recent shareholders acquistion by 2 top shareholders meaning Msports undervalued and count down price like you mention won't happen because they will snap up. If the counter is RM 1.55 like E&O always there is fear dropping to RM 1.50, 1.4, 1.3 -1.

mightymouses must be trapped here. STP2 is not overnight project. Land reclamation projects still require Lim Guan Eng approval which might even take years as seen in Ivory Penang World City project. Previous STP was approved when BN still control Penang. Will not surprise STP2 houses can only be completed in 2025?

Cheap and cash rich is what I like here. Could it be the same reasons two directors bought recently?

If debts are so good why so many Ah Long cases end up needing help from MCA Michael Chong? Think about it.

Bing Feng Tan in my real life I have zero debt hence my ID in i3.

High debts can lead to bankruptcy. Why take trouble when there so many better companies around?

What I hate about E&O STP and coming STP2 is traffic jam along Tanjung Tokong road. Expect it to be worse in coming years when more cars are on road.

When debts are high so is interest expenses which totaled RM 100.862 million last QR.

Condensed Consolidated Statement of Cash Flows
6 months ended
In RM’000 30.6.2015 30.6.2014
(unaudited)
Operating activities
Cash receipts from customers 1,041,357 645,928
Cash paid to suppliers and employees (777,753) (522,196)
Cash generated from operations 263,604 123,732
Finance cost paid (1,376) (7,061)
Taxes paid (32,124) (6,811)
Net cash generated from operating activities from continuing operations 230,104 109,860
Net cash used in operating activities from discontinuing operation (54,276) (367)
Net cash generated from operating activities 175,828 109,493
Investing activities
Acquisition of equity investments (17,135) (122,573)
Proceeds from divestment of equity investments - 273,000
Dividend received 48 85
Non equity investments 347,362 (5,201)
Acquisition of subsidiaries - 27,642
Disposal of a subsidiary (6) -
Net cash generated from investing activities from continuing operations 330,269 172,953
Net cash generated from investing activities from discontinuing operations 248 168
Net cash generated from investing activities 330,517 173,121
Financing activities
Proceeds from borrowings 74,917 401,643
Repayment of borrowings (624,849) (277,568)
Proceed from Government grant 33,024 -
Interest paid (100,862) (85,885)

Actually the merger news(although later proof fake) indicate AK is a willing seller than privatizing Armada.

sayakamiyuki running a company is different from being a PM. When you own a company you must find business to sustain company operating expenses(staffs salary, fuel expenses, utilities, etc). Now there are so many O&G companies operating in Malaysia compare to 10 or 20 years ago. Is Armada future still bright with current low oil price? I doubt so.

Anaconda is now over 70 years. If he privatized at relist later perhaps he will be 80 years old then. Worth the effort for old man? I heard his children is a monk. Can a monk take over?

Lim are you a newbie in i3? Do you read kcchong blogs about debts?

Lim if you fail to understand what debts can do to a company please refer to kcchongnz blog below as attached.
http://klse.i3investor.com/blogs/kcchongnz/85655.jsp

Penang wages no more cheap compare to other countries.

Posted by StingRay > Nov 13, 2015 11:28 PM | Report Abuse
Hahahaha... and you believe that? Then why are investor running away from Penang?

Kenanga also confuse like myself hence their earlier TP RM 1.10 only to revise later.

To antidebt might be boring but kcchongnz blog always emphasize so must let MRCB shareholders fully understand.

Posted by antidebt > Nov 13, 2015 11:27 PM | Report Abuse

ZZZZZZZZZZZZZZZZZZZZZZZZZZZ

Boring debt lesson

RM 3.135 billion debts who say gearing not high?
16. Group borrowings
The tenure of the Group borrowings classified as short and long terms are as follows:
As at 30.6.2015 RM'000

Secured Short term 736,849
Long term 2,248,139
Unsecured
Short term 150,000

Total 3,134,988

RM 3.135 billion debts who say gearing not high?
16. Group borrowings
The tenure of the Group borrowings classified as short and long terms are as follows:
As at 30.6.2015 RM'000

Secured Short term 736,849
Long term 2,248,139
Unsecured
Short term 150,000

Total 3,134,988

To those unknown please study the following blog why high indebted company like MRCB is better avoided.
http://klse.i3investor.com/blogs/kcchongnz/85655.jsp

To those unknown please study the following blog why high indebted company like MRCB is better avoided.
http://klse.i3investor.com/blogs/kcchongnz/85655.jsp

To those unknown please study the following blog why high indebted company like MRCB is better avoided.
http://klse.i3investor.com/blogs/kcchongnz/85655.jsp

RM 3.135 billion debts who say gearing not high?
16. Group borrowings
The tenure of the Group borrowings classified as short and long terms are as follows:
As at 30.6.2015 RM'000

Secured Short term 736,849
Long term 2,248,139
Unsecured
Short term 150,000

Total 3,134,988

Old man MD(63 years old) still around. Perhaps when he go Suncon to fly?
winPLUSwin So???? still not yet finish collecting? y still can't up? : )

The new MD suppose to say rivals causing delay when they complete projects awarded causing gov to waste money when bidding for projects eg LRT3.

Suncon is cash rich. Their old MD will retire end of this year meaning cost savings for Suncon?

Start construction after delay of 8 years.
http://penangsentral.com/news/2015/Penang_Sentral_start_construction_next_month.htm

antidebt why you create new id to answer? Why answer after I answer and not before?

Very slow and behind schedule.

Posted by alexisvics > Oct 31, 2015 09:19 PM | Report Abuse
Can anyone in Penang give update of Penang Central project....

If you like(can afford) warrant Pesona W better buy. Trading at discount(22.5sen + 25sen(conversion money)) compare to mother 48 sen.

Why I say poison? This is warrant. Conversion price is RM 2.18 with less than 3 years to expire. Mother price only RM 1.27. By right warrant should be worthless unless mother sure above RM 2.18 + 0.175 = RM 2.36 before 2018.

If the mouse poisonous worth catching?

Bankrupt company in making. Sell.

Potential bankrupt company. 80 sen or even lower better.

RM 2 biliion debts on top earlier RM 1.2 billion debts meaning RM 3.2 billion debts. Below RM 1 I can buy.