The Head Office and Others (“HOO”) recorded a profit before tax of RM10.79 million against a loss before tax of RM1.51 million mainly due to the fair value gain on quoted securities of RM12.12 million for the quarter under review.
The Food and Franchise Operations (“FFO”) recorded a revenue of RM12.52 million and a profit before tax of RM0.31 million for the current quarter against revenue of RM9.29 million and a loss before tax of RM2.55 million for the corresponding quarter. The higher reported revenue was mainly due to the gradual lifting of dine-in restrictions under the National Recovery Plan and the festive season during the current quarter. During the quarter under review, RM0.41 million was expenses off in the income statement for the share-based payment on ESOS, resulting in a lower profit before tax of RM0.31 million.
The Property Investment & Management (“PIM”) registered revenue of RM4.86 million for the current quarter with the resumption of installation activities on-site for the project management of an Integrated Limestone Processing Plant (“ILPP”). Despite the fact that the PIM segment had not fully resumed its activities on the ILPP site, it managed to reduce the losses to the minimum with its effective cost-cutting measures.
The Resources & Sustainable Energy (“RSE”) reported revenue of RM0.98 million and a loss before tax of RM0.70 million for the current quarter against revenue of RM0.62 million and a profit before tax of RM7.50 million for the corresponding quarter. The lower than expected revenue from the sale of limestones resulted in a loss before tax for the quarter under review. The profit before tax of RM7.5 million for the corresponding quarter was mainly attributable to the bad debts written back of RM8.5 million.
SugarBun made the right decision opening at Conezzione Putrajaya. Easing SOP post-covid recovery, strategic outlet location. I have been to the outlet for two consecutive days at lunch and dinner and the crowd was fantastic. The store was buzzing. The 2pc chicken-rice-drink combo will definitely hit well with the office and uni students crowd with its tasty food and competitive pricing. Good job Bornoil! Even the service staff were trained well. Definitely looking to up my stake in this counter with a long term view.
Consolidation does not seem to really benefit Bornoil at this stage although in future it may be seen as a way to make it visible to foreign funds. At current outstanding level the counter offers a fantastic opportunity for new investors with long term view. Investors who utilise Rakuten or MPlus see that this counter offers the chance to accumulate at 33300 units a month for a RM7 flat brokerage fee. This seems like a really good deal for newbies.
Bornoil is worth your time. At 3sen, as soon as the ESOS sales are done we should see it rise. The PP exercise has completed, the QR is pending. There will be renewed interest, don't live to regret it. The least one can do is balance his or her portfolio with this counter. Just get a piece of the action.
For trapped old souls they should realize that averaging down is a valid alternative to ensure a safe passage out of the counter. The newbies are happy to exit at 6sen whilst warrant holders are queuing to sell at the 7 - 11sen mark. Mp point badmouthing the counter. we are all here to make money and not enemies.
Current newbies are smart to not collect at 3sen to give PP free meal. Nothing to do with anything, only patiently waiting for PP expiry. And newbies will be bent on unloading at 5-6sen. That would leave oldbies with some respite, wouldn't it?
Just the day before the counter hit 3½sen with the 3sen Buy queue at 70m shares. Surely the swing is possible.13 days? Definitely possible. I managed to make a bit selling at 3sen so am not complaining.
What a fantastic development today! Maybe a last gasp manouever from the PP subscriber to extract whatever left. Thankfully commonsense prevailed.. with a rising price it is win-win for everyone including ESOS recepients as well as new investors. With this latest development, I am looking forward to add more without changing my TP of 5sen.
I see a terrific opportunity here at 3sen entry price. The queue is slowly thinning with anticipation that around February 2022 the counter will start moving towards the 5-7sen threshold. Here the warrants start to play, coinciding with the Q2 report. Of course till then the existing challenges remain. ESOS and PP subscribers have a dilemma of either selling now or holding on to the shares for a better spread. Personally, I am holding on and enjoying the ride!
Agree. Why be the sourgrape? The thread provides all the info. I have done my digging, I even checked out the business and bought myself the Sabasco sauces. It does not seem like a failing business to me, in fact it it is on the contrary. The gripes reflect poorly on one's investment acumen, don't you think?
Interestingly today I notice the absence of a certain block of 30m shares at sell queue 3sen. Maybe the PP subscribers are reading this thread! I would love to see the price test the 7sen resistance. That would be massive in terms of gaining traction for the counter.
Nothing has changed. Investors should just wait at 2 - 2½sen whilst the PP expires. Either Macquarie shifts the selling queue upwards, or new money comes in to satisfy the ESOS. There is no rocket science here. The excitement is there though; this is certainly the best time to buy in!
Datuk Joseph Ambrose emerges as BornOil's largest shareholder NST Fri, Dec 17, 2021 06:40pm - 21 hours
BornOil executive director Datuk Joseph Ambrose Lee said that the company has a solid asset base with net tangible asset (NTA) of RM0.11 per share and total assets of RM824 million against total liabilities of just RM56 million. KUALA LUMPUR: Borneo Oil Bhd (BornOil) executive director Datuk Joseph Ambrose Lee has emerged as the company's largest shareholder with a block purchase of 1.25 billion BornOil shares.
In a filing to Bursa Malaysia today, the company said Joseph had made the purchase for RM110 million, or RM0.088 per share.
"BornOil has a solid asset base. Its net tangible asset is RM0.11 per share with total assets of RM824 million against total liabilities of just RM56 million," Joseph said, adding that he was pleased to have finally concluded the acquisition.
The company is lowly geared with just under RM20 million of short term and long term borrowings with a comfortable cash position.
"What's more, it also has a long term growth strategy and business philosophy of sustainable existence," he said.
BornOil's shareholder base has also jumped from less than four thousand shareholders in 2015 to more than twenty-two thousand in 2021.
Since early September 2021, Joseph has been progressively increasing his stake in the company almost daily.
BornOil posted a net profit of RM28.51 million for the financial year 2021.
It also posted a net profit of RM3.78 million for the first quarter of the financial year 2022.
Yup. Fantastic developments seems to augur well for Bornoil. Please do not compare Bornoil with the evil Fintech related companies; share consolidation for these companies is a circus. Bornoil is genuine and it gets my hard-earned money.
The QR is definitely a splendid piece of news! Consistent with strategy I added at 2½sen before realizing there were no more easy 2½sen left! Good vibes now; can't wait for the share price to fly! I am planning to exit at 5sen, but 7sen is very possible too!
PP try to undercut ESOS, now pushing price to 2sen. The thing is, ESOS will not sell at 2sen; so now the question is, who in the right mind would want to sell at 2sen? The only plausible reason is that pinning the price at 2sen will give further discount to the rest of the PP subscription. So now we know the selling culprit throwing away the shares at 2sen?
Fantastic @Valgrovest. Please share the details later so that others can join the AGM. The ones throwing are perhaps ESOS recepients. Nothing to worry about. I'd take them up and collect at that price.
We can see the predicament now. Pushing the price down to 2sen will render the ESOS worthless. Subscribing the remainder of the PP at 2½sen on the other hand, will give the ESOS recepients exit at 8.7% return. With current investors like us sitting on the sidelines waiting for the PP to expire, I see it game over for MC. Just queue at 2½ and wait for the ESOS to bite.
@pineapple123 you may want to read the thread to learn of the background. @Valgrovest and a few others made some insightful remarks and with the improving economic situation, I personally am convinced that this company will be one of the strong beneficiaries moving forward. Having said that we investors need to keep our feet firmly on the ground as there are certain parties continuously intending to take advantage of the situation. As advised, focus on coming in at the 2 - 2½sen range and try to have a set strategy to accumulate in the short to medium term. Naturally if we all move in the same direction, we should all stand to benefit.
Fantastic day today as my GTD finally got matched! The volume is slowly shifting with Buy v Sell Queue is now 3 to 1 from 10 to 1 previously. Some parties are getting desperate, aren't they?? Keep holding on guys, try and dominate the 2 - 2½sen queue. By end of February 2022 we could be seeing something special. Until then, let us teach these rascals not to shortchange people's hard-earned cash!