"Ze Moolah also blogged about Astro, and he quotes a stunning revelation that the company was delisted at RM 8.3 Billion, will be listed again around RM 18.7 Billion just two years later, for a cool RM 10 Billion difference, or RM 10,000,000,000.00. And even more stunning, the company is relisting without its overseas operations."
This is how they take shareholders' money lor. If you have extra money can go for the IPO. Once listed, can throw. No need to keep until further notice.
I know Malakoff people. and 1MDB is new kid on the block out to impress! power generation is good money. I like to be conned also with fancy AGMs and glossy annual reports! :)
If I recall correctly, MMC is another Renong. I didn't check its books yet, but it has a lot of projects, the double track JV with Gamuda being the prominent one if I recall so but also a lot of debts similar with a lot of companies under the stable of al -bukhary. Syed is a willing pawn used by mahathir to build his one of his 10 superpowerful Malays where all businesses in Malaysia derived. Other four previously identified were Daim's boys; all of which failed miserably except the Yahaya fella whose life was cut short by a copter crash.
I remember reading once a paper many analysts not happy with the gearing but Al-bukhary sure has his way of getting contracts supplies coming from UMNO. For me, people can fall out of favor fast with the powers of the day, and likewise the shares could fall spectacularly with it too!
For me, I personally try avoid all al -bukhary's kandang kudas! But they sure are favorites of many I can assure you!
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Posted by benson911 > 2012-08-24 19:56 | Report Abuse
Astro dividen yield is rather low at 2.5%.