https://www.bloomberg.com/news/videos/2017-01-27/keppel-sees-prolonged-slowdown-in-oil

https://www.bloomberg.com/news/articles/2017-01-25/-time-to-get-out-as-dow-milestone-a-call-for-caution-pros-say

http://www.theedgemarkets.com/my/article/‘year-rooster-remain-challenging’

http://www.propertypricetag.com/properties/275441.html?utm_source=facebook&utm_campaign=my.fb.pptwallpost&utm_medium=cpe&utm_content=dyingmalls

http://www.bloomberg.com/news/articles/2016-10-03/perisai-bondholders-reject-oil-rig-contractor-restructuring-plan

As per their latest annual report:

Sukuk Musharakah (“Sukuk”) (Cont’d.)
Major covenants that are required to be complied with are as follows:
(i) RCSB is to maintain a Financial Service Cover Ratio (“FSCR”) of not be lower than 2.0 times on a consolidated basis;
(ii) RCSB is to maintain a debt/equity ratio of not more than 1.0 times on a consolidated basis;
(iii) RCSB dividend distribution is not in excess of 90% of current year’s profit after tax at the company level;
(iv) RCSB is to maintain a minimum requirement reserve in the Finance Service Reserve Account equivalent to all periodic
distributions and guarantee fees which are due and payable within the next 12 months; and
(v) the Group is to comply with a minimum interest cover ratio of 2.0 times on a consolidated basis.

As at 31 December 2015, covenants (ii) and (iv) above have not been complied with by RCSB. However, on the same date,
RCSB has been granted an indulgence until 30 April 2016 to comply with these covenants. Subsequent to year end, the
indulgence was further extended to 31 July 2016 and 15 September 2016 for covenants (ii) and (iv) respectively. As part
of the indulgence, RCSB is currently in discussion with the lender to reassess the appropriate debt to equity ratio in light of
the current position of the Group post the reverse takeover acquisition of Symphony House Berhad and the public offering
in March 2016. As the indulgence received as at the end of the reporting period did not cover a period of at least 12 months, the Sukuk is
presented as current in the financial statements.

So how they are going to declare dividends when you have not sorted out with the Sukuk holders?

It is currently trading below Benjamin Graham's Net Net Stock:

Current Price - Coastal
RM
1.51

Current Assets
RM'000
2,416,555

minus Current Liabilities
RM'000
1,075,480

minus Other Debt
RM'000
420,163

Ben Graham's Net Net Value
RM'000
920,912

Ben Graham's Net Net Value per share
RM
1.73

parabolic bearish. scary.