key person to this LCS scandal is Anuar Murad.. people should ask why somebody like him who has zero experience in ship fabrication industry suddenly appointed to a very powerful position that got to solely decide every single thing in this 9 billion ship project.. check his background, and we may find the answer / link to why he is untouchable even though many reports had been made against him as according to the Report findings..
Fear of this FRS17 implementation is over reacted by the market.. if PAT is only reduced by 16%, then for the EPS of 2021, which is about 49.4 sen, will be 41.5 sen after taking into account of this 16% reduction.. & PE at the current price will then only be 8.2.. so much undervalue for an insurance company with good profit growth..
but anyway, I like the over reaction.. this will make the stock a lot cheaper
seriously I don't understand what is this excitement of having bonus issue.. to me, it will just dilute the profit / dividend received, and therefore it will just decrease the market price.. its more logical and beneficial to the shareholders to receive higher dividend, rather than bonus issue which give basically nothing but diluting the profit/dividend and therefore decreasing the market rice
of course there is that risk of negative plastic demand, but the numbers in recent years QRs show steady growth in revenue & profit.. take that risk & just enjoy the potential dividend yield of 6.3% at current price.. no risk, no gain