yes.

that's the thing i trying to bring out.

do not INVEST on those management which is lack of trustworthiness. unless u wan to GAMBLE.

no matter how much assets or even cash that company own. they wont share with u. only leak to own pocket. that is the only thing they concern. they never treat shareholder as partner. they don't even treat the company as responsible.

some more company is losing money for many years. failed to operate.

#dangerous game
#kimtan50
#Orson Chin
#stteck

yes.

He lose all the share on hand also not a big deal. because already withdraw out from company in several years.

since you already in, sell or not sell, you are also a loser. Just pray hard.

"one day" might up.

Buy or sell at own risk.

i just share little bit of my view. because too many of you did not aware on this. too much focus on land. Hope it help.

SELFISH MANAGEMENT#
BIG SHARK#
BUY OR SELL AT OWN RISK#

Year 2012
company loss 7.6m, but the directors get paid 5.1m.

Year 2013
company loss 3.4m, but the directors get paid 6.6m

Year 2014
company loss 33.4m, but the directors get paid 5m

Year 2015
company finally get small profit RM445k.. haha
how come? because this year they only took away 2m.

see.. they can actually able to play upside down on the company. whether want it to be green or red. Is all under their control.

-----------------------------------------------------------------------------------
**ALL THE FACT YOU CAN FIND UNDER PREVIOUS FINANCIAL REPORT, UNDER REMUNERATION POLICIES

lets see something interesting,

From 2012 - 2014 (within 3 years)
2012 - 4m - 4.5m
2013 - 1m - 3.5m
2014 - 4m - 4.5m

In 3 short years, the ED alone (1 person) already took away 9m - 12.5m from the company which is suffering loss.

is it miracle? the company suffer loss almost every year. the ED still able to took away about 10m in just 3 years.

see the main problem that cause "operation and administration fee" far higher than profit?

-----------------------------------------------------------------------------------
**ALL THE FACT YOU CAN FIND UNDER PREVIOUS FINANCIAL REPORT, UNDER REMUNERATION POLICIES


Lets think,

Question 1
Do you think the ED very concern about the dengkil project? must speed up the progress and make the company stop suffering loss?

Question 2
If the project success, you sure he will share the profit with you?
If the project fail, you think he will suffer together with you?

----------------------------------------------------------------------------------

he eat meat, you eat bone#
shadowseeker# Orson chin#

hehe... that i dont dare to guarantee. Maybe another bomb set? Trap? judge your self

what i want to say is, this boss is brilliant and very smart. If you want to earn money from him, you must smarter than him.

what i feel sick is the way they run the business. I dunno whether they hire 3 person to do 1 person's job or they go pay triple the salary for all his staff higher than market price.

For how many years d? How come they allow this continue happen? The recent cut down of admin expenses is from disposal of CIL not because of the efficiency of management.

-------------------------------------------------------------------------------
Year 2016 (RM'000)
revenue: 79,108
cost of sale: 76,596
profit: 2,512
admin expenses: 8,696
-------------------------------------------------------------------------------
Year 2015 (RM'000)
revenue: 117,794
cost of sale: 110,973
profit: 6,821
admin expenses: 11,479
-------------------------------------------------------------------------------
** i lazy to type all detail out, for full version pls go read financial report ur self


Another problem is here.

stock on hand: 4.6m
cash on hand : 2m
dealer owe him: 7.7m
he owe supplier: 24m


wtf is this... zzzz

means if u sell all the stock in your store, collect all debt from dealer, used all the cash on hand... u still owe supplier 10 million

is for sure up coming years is on loss too..

--------------------------------------------------------------------------------
plus, this company had no fund to run the development. Will they request top up fund from shareholder? Will you dare to borrow him money to run the business ?

later they tell you the admin fee is higher than profit again?

or maybe they will set a nice show says the JV failed, some trouble on the land, then set the company to PN17, pull down the share price to 0.020. then they start to buy back shares. lastly come out a white samurai, price shot back to 0.50.. they fat fat

for those who bought at 2014 or earlier dont cry. maybe you can get back 80% of your investment capital after 10 years become shareholder with Mr GOH.


The risk is there bro.. many possibility can happen. take care

be smart#
be cautious#
Happy trade#
shadowseeker# Orson chin#

SIMPLIFIED FOR U GUYS

this boss sale cake. RM2/pcs, the cost was RM1. and they pay the staff RM3 commision. him self claim RM5 on company.

now he tell u he got 1 machine on 2008, worth RM50. market value now is RM1000

--------------------------------------------------------------------------------
now he offer u to become his business partner.

INVEST?

bro.. they already unlock the fcking land to max

point 1
1st land WAS 5.6m on 2008, then go unlock it become 100m on 2013. (WALAO!! LIKE THT STILL NOT CONSIDER UNLOCKED? OR IS OVER UNLOCKED?? )

2nd land WAS 3.8m at 2008, unlock to 58m on 2013 (WALAO!! LIKE THT STILL NOT CONSIDER UNLOCKED? OR IS OVER UNLOCKED?? )

y they do that?

becos they wanted to make the report look nice and SWTICH THE ATTENTION on the loss they made!!! DECORATE PURPOSE!! and i do think tht is overvalued.

point 2
plus, MCT is not doing very well in dengkil. their financial report is not so good among others who develop on another area.

point 3
when we talk about invest, we concern bout the quality of management team. A good businessman wont let the company suffer loss for years and yearssssssssss right? How come every year administration and operation cost is higher than profit?

they cant even do well in core business (can consider fail), how u expect them to do well in another field where they also not familiar? will it be another "operation cost higher than profit" case ? i doubt

CONCLUSION
SOMETIMES WE DON'T LET THE FINANCIAL REPORT FOOL US.

After they "unclock" the land from 5.6m to 100m, wow wow wow... NTA from 0.03 shot up 0.07 many ppl believe that they can make money... then they start putting money in it. that time the price was around 0.07.

what happen after that? 0.06... 0.05... and now comes to 0.03. wow... more than 50% loss. you waste your capital here for few years and suffer loss. The management still doing the same thing allowing "operation higher than profit" and they claim huge amount of fee.

this is a goreng counter... not for invest. we must wait for a best time to cut in. not buta buta "invest"

JUST MY 2 SENS ADVICE

lol

even in prime location, property sector already slow down. Do you think DENGKIL would be a successful project ?

#sale to whom?

btw. NAKA is already PN17 ... :P

#what's next?

it is very obvious that "some" management just want to maintain the company as listed status. they can claim all the family and personal expenses on the company.

As long as the company still can operate, Projects, share price, how efficiency the company run.. is non of their business.

if they happy, then goreng.
if not happy... leave it stay down for years and years. becos money can atm out in several ways anytime.

so when the project will start.. doesn't important to them. :)

#check NAKAMICHI CORPORATION BERHAD (NAKA 7002), saw familiar shareholder name?
#poor management
#if you are investor, don't touch. If u r goreng-ner, maybe u can try ur luck. LOL