RM119m garment factory is simply way too ambitious for a company with RM160m market cap.
they should start with a smaller scale eg. RM50m and scale up phase by phase.
incur less initial start up cost and depreciation.

GP Margin got no compression yoy, still 20%. I dont sense that someone is really fucking them on the margins yet.
-------

Yes this fabric plant will definitely benefit Prlexus in the long run.

But in the short term horizon it will drag Prlexus down.
It will burn the cash pile of Prlexus (ALL their Right Issue gone plus previously conserved cash)

Prlexus market cap is 163m
The fabric mill alone cost around 119m
As you can see the fabric mill alone cost 73% of Prlexus market cap, which is shocking.
Never imagine a fabric mill will cost this much, at least for its Prlexus size.

It's not hard to anticipate a loss in initial stage of fabric mill operation, in fact the management also admit this issue in AR report.

Their word, not mine.
"Nevertheless, it is expected that the fabric mill
will incur higher depreciation and start-up losses in the next
financial year mainly due to lower capacity utilisation at the
initial stage."

Hafid:
3. if acceptance is between 75-90 %, Company can apply for delisting.
Bursa will notify shareholders the last trading day. The risk here is you can
sell it on the market before last trading day provided there are buyers in the market.
PLEASE NOTE if u cannot sell , you might end up holding the shares of a company no longer
listed at the exchange.
----

Please get your facts straight first before posting misleading info over here.

call my friend in beijing to help look out for this brand.
and the answer is , you guess it.

settle the auditor issue 1st.
how far a company without an external auditor would go?

watch closely and you will see gt someone keep enter SELL Q 5000 lot at 0.825.
when 0.825 Q almost finish, there will be another tranche of 5000 lot SELL Q.

just think about it, who have such massive amount of shares and do not want to throw down buy Q causing price to drop.
then you got the idea who is selling.

We expect our existing apparel manufacturing business
and advertising business to remain profitable in the
next financial year. Nevertheless, the fabric mill which
is estimated to be completed and commissioned in the
first half of 2018 to incur higher depreciation and startup
losses in the next financial year mainly due to lower
capacity utilisation at the initial stage.

------
Profitable..
But profit reduced...
Keep in watch list but keep out for now.

What a waste.
This supposed to be a company with promising prospect.
But several factors all is unfavorable for this company.

1) Trump factor - Abort TPPA
2) RM strengten to RM4.06.
3) Slowed expansion - Vietnam expansion delayed.
4) Temporary start up losses & depreciation.

2018 would not be a good year for PRLEXUS.

Bigbrother no offense, a word of advice for you.

in view of the booming receivables and depleting cash at such extreme level.
you better watch the column in their AR is there any receivables past due but not impaired in the coming future.

it just doesn't make sense to spend multi million in any business with booming receivables just to earn a RM27k for 3 months.

Net cash (used in) operating activities (95,610,000) for 6 months period...
BRAVO!! BRAVO!

are you sure the business is doing good?
it will NOT make a loss if business is doing good.

Btw, i am really amazed how fast the massive cash pile being 'transformed' from CASH into
"Trade receivables, and Other receivables, deposits & prepayments", just like in a blink of eyes.

Last QR
Trade receivables 17,908,107
Other receivables, deposits & prepayments 18,686,685
Short term deposits with licensed banks 82,982,437
Cash and bank balances 7,796,129

Current QR
Trade receivables 34,648,328
Other receivables, deposits & prepayments 77,012,927
Short term deposits with licensed banks 11,430,474
Cash and bank balances 3,121,376

Surprising isn't it?
hw 3 months can did to a company's fundamental.

And i am equally curious on the reason the external auditor resigned, the chairman resign from audit committee and an executive director resign.

thank you so much for your view victor.
appreciate your effort.

and we would like to see your view after you take position again

victor9999 :
Sell all morning before break another low
Nov 22, 2017 08:13 AM


---------------
Indeed this victor had sold all his shares on 22 Nov and planning to buy back, the lower the better and hence spreading all negativity here.

Its common to talk good while you are holding a share and act oppositely once you cleared your position.

Now everybody know his motive here.
So Victor, spend your time on Supermx would be more rewarding instead of here trying to mislead others

NoEmo, i saw the same thing and exited the next day @ 0.32 bck then when everybody is happy about the good result.

We must read between the lines.

first auditor resigned.
then chairman resigned from audit committee.
now executive director resigned.

what to come next?
salute to ppl tat still dare to add more...

i am not that into technical.
but could technical sifus enlightens us on the immediate support level?

coz from what i see there seem to be no support till around 0.9 level.

pakatan_harapan2 Loss RM 53 million no 1 can see?
-----------

do you know why many ppl like you will lose money in the market?
yes, loss RM53m, everybody can see it.

but did you care to even click on the QR report to read and find out why?

don't you smell anything?

to loyal fans, ask yourself a simple question.
do you dare to buy into a company that will have no auditor in few more days time and just have the chairman resign from audit committee the next day after the current auditor resign?

the situation does not sound comfortable to me.

1st the auditor resign with immediate effect (the company law states it takes effect after 21 days).
2nd the non-executive chairman resigns as audit committee member the following day.

as of now they are in the midst of finding new auditor.

i don't think any auditor would simply resign from a company even there is "resource restrain" as stated in their auditor's statement.

foreign funds winning hands down

coming~~~~~~~~~~

local big boys vs foreign funds

did anyone calculate net cash per share for Anzo??
despite this company being a so called ''crocs'' counter, you will be surprised on the figure.

SSTEEL purely long steel play and check out on their QR.

not to mention meow meow have PARKSON which is dragging its foot.
and PARKSON is likely to make another lost this QR, see its overseas subsidiary's QR.

if manulife and other fund did not dispose their stake.
there are still chances.
many fund hold prlexus

Skliew : Net cash generated from operating activities RM11,117,000

This is the cumulative quarters CFS.

Look at the net cash generated from operating activities in last qr and compare to this qr and u can get the idea

although the net profit did not drop much if we did not take the taxes into account.
it's alarming to see the drop in revenue.
most probably due to the reducing order from UA.

and when you look closely into the cash flow statement, in this individual qr, their net cash flow from operating activities is negative.

with these few facts, i had cut all Prlexus @ 1.41.

http://orientalmedical.com.my/

Oriental Holdings

apollo.
impossible profit will down next QR.
if you follow this company closely you should know the reason.

but if you don't too bad

wow...otb oso enter prestar?

the coming QR will definitely be a history making one.
the sale of factory alone in Vietnam already give them a 8m headstart

does not make sense at all why the management did not privatize this company.
net cash alone exceeds the market cap.

if you want a net-net company, this is the one.
but the boss have history of ripping minorities off like KBUNAI and PTGTIN.

Profit increase 8645% yoy !!!

we can't conclude anything.
but its worth to note that around 37% of total receivables is past due.

Just have a look into their AR.

Receivables.

Neither past due nor impaired 120,288,299
Past due but not impaired
1 to 30 days 11,055,847
31 to 60 days 4,246,993
61 to 90 days 8,565,473
More than 120 days 47,583,644
Total Past due but not impaired 71,451,957

Total receivables 191,740,256

And it is worth noting that the adjusted cost of the private placement shares bought by erhem* is RM0.198.

'000
Net cash used in operating activities (51,993)
Net cash used in activities (6842)
Net cash generated (used in) financing activities 65,978
(Private Placement 63,000 + Borrowings 3,091)

taken from CFS to get a clearer picture.

yup.
its a good thing that their borrowings just increased from around 20m to 30m.
a 50% rise but still a manageable sum.

siva68, theoretically business should work this way, you complete a contract, you bill the customer and put it into receivables and customer pays you back.

but then this is Malaysia. where we will see all sorts of stories.

based on my past experience, seeing and burnts badly by lots of de-listed company like OILCORP etc. back then in 2009 and some other like MAEMODE,

unless a company successfully collected the cash in hand, else i won't buy their receivables.
not to mention they are running on a negative cash flow.

as well as how healthy is their receivables & amount due from customer.
whether haven't past due or other wise

Darth,
i feel that the moment they successfully collected those receivables,
that is the day that its proven they are a good company.

for the time being what we can see is a company that borrows money from bank to execute the contract and yet to receive cash back from their customer.
maybe the coming AR we can have clearer picture on their credit terms.

from what i see in the last 4 QR.

The receivables + amounts due from customers just keep ballooning up, so as the borrowings.
Unless they successfully recovered the sum from their customers, this is a no buy for me

for those that think Vivocom is a good company just merely looking at the NP.
you need to change your perspective on FA.

yes this company is making profits.
but look at the CASH FLOW STATEMENT.
does the profits they made translate into cash?
or receivables?

for the past 4 QR, 3 QR is registering a NEGATIVE CASH FLOW.

how could you say it is good?

stockmanmy what is your view on Alcom after knowing the agenda behind the special divvy + capital repayment?
still a buy? do share with us

http://www.malaysiastock.biz/Company-Announcement.aspx?id=930315

there is a major boardroom change taken place few months ago

MGO is mandatory general offer trigger when a party acquire >33.3% of shares in a listed entities, it is mandatory for the party to extend the offer to purchase all remaining shares from the remaining shareholders

stockmanmy.
Do take note that the AR you read is not up to date.
Novelus used to be a shareholder, they are no longer the shareholder, as well as those directors you see their faces on AR.

you can follow the announcement from last year regarding the purchase of Alcom stake by Can-One boss from Novelus subsequently the MGO etc to get a better picture of how the whole story unfold..

Few months ago, the new majority shareholder buy a 59% stakes from previous shareholders at RM0.61 per share and triggering a MGO.
Where most people did not accept the MGO as both director and IB advice public to reject the offer.

We assume they buy in 59% stakes @RM0.61/share.
With the special divvy RM0.20 and RM0.32 capital repayment.
We can figure out the new shareholder just fork out RM0.09/share for the whole company.

A brilliant deal isn't ?

sorry to say.
election counter won't involve jtiasa.

you wan election counter try mbsb drb fgv thplant media etc