why do the company have such a high receivables??

to ask the management to return the cash is unlikely but the shareholders of facb ind should propose to the company to distribute in specie shares of kbunai in the ratio of 1:4..

MMSVS is a company domiciled in thailand which owns 8 units of HWU. Uzma bought the company last year for about 95 million ringgit to expand its drilling services.

2 reports on MMSVS each by publicinvest and kenanga, 2 conflicting informations.. one said, uzma has 10 units of HWU, the other said 9.. one reported it has 500 million order book, the other said it's 500 million bid book.. and both visited the same plant on the same day..

what is the production cost per barrel for SFRSC tanjong baram field?

it is a commendable quarter..

there is a possibility that Cordlife would purchase the remaining shares it does not own after the completion of CCBC transaction..

this counter has take-under risk, not take over.. in other words, the management is happy to hold on its land bank and does nothing while the company is bleeding capital for the next 10 years (based on its equity of RM 871 million including reserves of about RM 220 million, the company can handle losses of average RM 87 million per annum for 10 years before it falls into PN17).. if and when, the management receives an attractive offer or attractive JV proposals for its land bank, the owner who already owns 68% would pay a little premium to its shareholders to privatise the company.. the company history shows that the owner had tried to shallow up bukit unggul land at forced sale price in 2011 but was unsuccessful.. the possibilities are high that the owner would do it again..

No, i didn't say it is a piece of useless land.. if you read footnote 25, more like it is a board of useless directors..

The one tract of land Kbunai can monetise is the bukit unggul land, about 1300 acres excluding the 65 acres of bukit unggul golf club.. The parcel of land is in dengkil, southeast of putrajaya, northeast of Salak Tinggi.. The reason Salak Tinggi was mentioned is because, recently, Paramount Corp Bhd bought 237.3 acres of freehold land in Salak Tinggi at about RM 22 psf.. Sunsuria Bhd bought out its partner Sime Darby's stake in a JV of a development in Salak Tinggi.. The transaction values the land at RM41 psf.. It was transacted at RM41 psf because of better infrastructure(ERL station) and a Xiamen Malaysia university..

Take the price of 20 psf, that piece of land is worth RM 1.13 billion.. It is almost 2.8 times its market capitalisation, but that same piece of land has been devalued once in 2011 by a given reason "to stop developments on hilly areas by the Selangor state government". The actual reason is in the footnote 25 of the 2011 annual report..

The shareholders need to have a rock solid patience to counter the problem of when will it be materialised. There is one interesting shareholder in its 2014 shareholding list. Tan Aik Pen of TSH Resources Bhd.