F***

@kakashit, I dont think its so bad la...

I really want to hear what the management has to say in the annual meeting

Need 4.30 to make money???? The bloody management is making too much money, each director is drawing 900k per annum. 6 management people. Almost 6mil management salary. The company managed so poorly.

Dunno man, i am wondering what the hell is going on inside this co. The previous hedge is at 3.80. 3.80 also cannot make money?????? What the hell man

f***ing KCGOH1234

Keeping things in perspective, i think last year was the only year of losses for notion, if the 4th quarter of this year it turns then there is only 1 year of loss for notion...

I spoke with tcf before, i think even last time there is a lot of infighting going on. Also, it seems like the latest bad decisions were made by him. Ie:silver mine, hedging, phone.

Personally i think these mistakes r only a natural learning process when they r trying to break into other things. Hedging is normal in business, it is always a 2 edged aword. Not so fair to blame tcf, maybe he wanted to do something else and the other directors rejected it.

The asset light strategy is not a good strategy when business is still unstable. If they sell the assets progressiveky while they reorganize the floor space that might be good.

I think its pretty amazing that tcf sold more than 10mil shares on an illiquid stock and the price can still hold up like this.

Makes me wish i hadnt bought so early...

actually operating profit is probably closer to 30~40mil

Notion vtec has several factories. Not just 2, the property value on their balance sheet is about RM60million. They sold off RM9million for about RM20million. If you use this recent transaction as a benchmark, the remaining properties are easily worth over 100million. This is equal to their current market cap.

The machineries can continue chugging out products for the next 10 years and they continue to be a supplier to major players in the world. The operating cash from these machines are around RM20~30million, this is at the worst period of operation, this is without taking into account the recent depreciation in the ringgit.

The company looks to be on the cusp of a turnaround, and the forex changes are a big tail wind.

some of the decisions done lately have been truly moronic.... The management compensation is also an issue, do u know that the management is being paid more than UMW management. UMW is making hundreds of millions each year, and their being paid less than notions management.

The remuneration committee ought to taken out and hanged, there is nobody speaking for the shareholders. Each one of the directors are being paid almost a million annually. Mind you, even at 30k per month it is already a fantastic salary, there is no need for all of them to be paid so much. Moreever when the business needs the money for capex investment to grow.

the monkey wrench is those quality issues.

Sounds good. Btw my name is in the top 30 shareholders... ahahaha.... Eating losses now. I think the phone cameras will only get better... and sooner or later they will be at dslr lvl. Then why should anyone purchase dslrs? Are they offering something substantially better?

I also think this time is probably time to accumulate. Even if everything bad happens it is pretty much priced in. The forex reflects approximately 3.80 MYR to USD. The worst was last year and the first half of this year. Forex losses is at almost RM30million, this is also at around USD3.80. Without this losses they can add approximately RM22.5million in profit. Its at 4.20 USD Myr now.

Operationally the next year should be better than this year. If they just maintain this years operations their Net profit should easily be 30~40mil

Camera long term is a sunset industry.

Erghh.. hope they find a new sector to go into now

I dunno how can they lose money in this type of foreign exchange

Dunno what the 4th quarter will look like, but seriously with this type of exchange rate, even the badly run companies like dufu is also profitable.

I thought after 3rd quarter it will shoot. Now 3rd quarter pass, the chairman throw 2mil shares, really bang balls man....

Just want to highlight my worry here, i think there is infighting in management. I hope that is it, and not that there is something untoward going on.

I have my reservations. I have a fairly sizable position in this share, and i hope it does well.

rejection rates are rising, and this might reduce the orders they receive in the future. I think it is the HDD sector.

The forex adjustment will also hit them next quarter.

I think 4th quarter will underperform, and i worry if the constant inventory rejection will make their buyer reduce their order or change the supplier. But I also have a position right now...

Depreciation is on machinery not property. They r selling property @sherlock. Hedge also nvn. Management say maybe dun need, didnt say wont

Nothing wrong with hedging, its to control risk. Now myr weaken so it looks like a bad move, but imagine if myr strengthen.

Anyway its already expiring. No problem. Even if they add on any hedges, it is at 3.6. So their still ok.

MYR depreciated to RM3.83, as long as they didn't put in any additional hedges at RM3.6. Easily their profit margin is 12~15% when all the hedges expire, which should be in the last quarter.

Also, generally sales pick up in the second half of the year. So the revenue is likely to spike in the 3rd and 4th quarter, not withstanding the currency depreciation.

First quarter already mark to market until USD3.55~3.60. Second quarter why still mark to mark. Exchange rate floating at USD3.55~3.60. Wtf.

Last quarter RM17million forex losses is due to mark to market. How come this quarter another RM12million in forex losses?

2 quarters RM29million forex losses? Where got so much... and why the gross margin drop so much? Revenue went up QoQ but the gross profit drop down. Management also din explain.