as i know..........no one shout at datuk. datuk hold press conference after agm. before agm got small refreshment, after agm ada makan lagi, not badla........ still got small door gift when register
what free door gift dia bagi? today the edge says digista will only turnaround in 2016 when melaka project start materialise... now loss position due to the financing cost unable to be capitalise as project development cost... Hmmm... reason still acceptable.
Digistar expects to turn around by end-2016 By Yen Ne Foo / The Edge Financial Daily | March 27, 2015 : 10:51 AM MYT Share on facebookShare on twitter Printer-friendly versionSend by emailPDF version KUALA LUMPUR: Loss-making information and communications technology (ICT) service provider Digistar Corp Bhd ( Financial Dashboard) is banking on recurring income that it expects to start streaming in from its various businesses from next year onwards to turn the company around by end-2016.
“Our businesses will help us return to profitability and we expect to turn around by the end of 2016,” Digistar group chief executive officer Datuk Wira Lee Wah Chong told reporters after the company’s annual general meeting yesterday.
“We can keep on doing ICT work but these contracts are not enough for us. We want recurring income and everything we have done has been about getting a steady recurring income for the company and its shareholders,” he added.
Besides the company’s core business of providing systems engineering and integration solutions for the audio-visual, broadcasting and security sectors, Digistar has ventured into construction, property development, central monitoring system (CMS) services, interactive pay TV and telecommunication businesses.
Despite the variety of its businesses, the company’s financial year ended September (FY14) still saw a net loss of RM5.65 million on the back of RM109.71 million in revenue. It continued its losing streak into the first quarter ended December (1QFY15) with a net loss of RM3.86 million and revenue of RM31.24 million.
Lee said the losses were due to bond interest expense for the RM280 million bonds it issued to finance the construction of the Malaysian National Technology Advancement Centre (MTAC) in Melaka for the government.
“We pay RM14 million to RM16 million interest for the bonds each year. That offsets any profit we make from our other operations,” he said.
Lee expects this to change at the end of next year as Digistar’s various businesses start to generate recurring income on top of its existing order book of approximately RM217 million. The company also has a tender book of RM350 million.
He said Digistar will have a “stable income” stream from its 15-year concession from the government to provide asset management services for MTAC once the RM240 million construction project is completed in July 2016.
Furthermore, its commercial development of The Imperial Heritage Hotel Melaka will be fully operational this year and Digistar is expecting the project to rake in RM25 million to RM30 million in revenue per annum.
Digistar (fundamental: 1.05; valuation: 0.6) is also going to continue the expansion of its CMS business and intends to grow its customer base by more than threefold to 20,000 in two years.
It is also in the process of acquiring three security solutions companies with a view to setting up three more command centres. Two of the new command centres will be located in Sabah and Sarawak, which will effectively expand the company’s footprint in the two states.
“The cost of monitoring one house and 1,000 houses in the same command centre is the same. Our goal is to acquire more customers and secure recurring income from them,” he said.
Digistar’s counter closed up half a sen or 2.22% at 23 sen yesterday, with a market capitalisation of RM104.88 million.
No need to wait until year end 2016. Better shift to other counter n u will maka a lot of money during this 2 year. If u stay tune n Coming 2nd , 3 rd , 4th quarterly lagi rugi banyak n price will drop below 15 cents. Cut loss now because Digistar no future n debt krliling pinggang. Run run n away.
Nothing left not even the bone. Run as fast as u can since the price still 22.5 cent. 2nd quater will be announce November . Full year sure RUGI 18 million or more . Price might hang arroung 15 cent. LARIIIIIIIIIIIIIIII !!! .
Dato Wira bolih cakap apa saja. Nanti rugi lagi , Dato Wira pusing cerita lain. Last-last pelabur terjun sungai. BSKL listing company begitu banyak , tutup mata beli pun bolih untung loh . Jangan buang duit dan masa in Digistar.
Last time Digistar said it will tender some sub-contract project from Puncak Semangat, but now has been almost 1 years, what is the result of the DTTB sub-contract tender?
Has the tender closed, or Puncak Semangat still evaluating the tender?
Do we have any investor here which is very good in English written, can we send a formal letter to Digistar IR, and seek for their confirmation on the DTTB project, Money Lending License, CMS ...etc.
Datuk appoint his childish son to become the Executive Director. Is time to said bye bye to Digistar. This type of company really no business mind one, simply appoint a 24 year old Diploma holder to become Director in Listed Company. Shit... Pubo... CibXX Dato.
So sad for Digistar, such a good company with many potential collapse in the hand of Datuk. Why Datuk Family do not have capable person? Why don't ask his brother - Lee Hua Beng to sit on board.
Ya... Lee Hua Beng is a good guy.. But his brother - Datuk Wira, sad to talk anything about him furthermore.
As a CEO of listed company, you must know how to run the company properly. So many investor invest their hard earn money on your company, but you are not capable to run the business, and you make the share price drop like no tomoro.
How can you sleep well in the night? All your money, your house, your pillow, your son education is come from our hard earn money, how can you sleep well? How can your family sleep well?
So Datuk Wira, please be more responsible to the company.
If business is bad, then please tell the truth to all the shareholder, please cut your director fee, please don't put your son as the executive director, this is a public listed company, not your own Sdn Bhd.
Datuk, Datuk, I hope you or you family can read this article.
Your money is our hard earn money. When you get money from us to let your son study university, that mean we sacrifice our son education fee.... remember, karma always happen!
Datuk Wira, I'm not cursing you, I just hope you can be more responsible to your shareholder.
yes albukhary, i totally agree what u stated here. if the son no experience then better dont put as director, let him start from the very bottom, be office boy also nevermind. dont come in as high post, people will not respect you.
sbzk, is there anywhere we can write in a letter to MSWG or SC or BURSA, and ask whether they can query how much is the remuneration paid to Datuk's childish son, and also what is his qualification or compentency to earn this salary?
Also, recently Digistar has bought a shell company from Datuk's sister for RM200,000. How can we check whether the company is having an asset of RM200,000, or the company has nothing? If has nothing, why don't Digistar spend RM2500 to setup a new Sdn Bhd, why must acquired from Datuk's sister?
If there is no future at digista, why shud a father giving so much shares to his son and getting him ready as a executive director now? Think for longer term ..........grow with his son!
Taipa, which part of the announcement you saw the father giving so much of share to his son??
BTW, we all know Digistar is a good company, all the project it have should be very profitable.
HOWEVER, the profit will never benefited the public shareholder. Datuk and his family always find ways to pocket the profit, and what left to the public shareholder is a loss making result.
Please tell me, why spend RM200,000 to acquired a dormant company? Does the dormant company has RM200,000 cash in their bank account, or does the dormant company have any asset which worth RM200,000?
If not, then why don't just spend RM2,500 to register a new Sdn Bhd?
Why must spend RM200,000 to acquired the dormant company from his sister?
Indirectly, another RM200,000 transferred out from the company.
If no one reject them from doing this, then next time they will setup another 10 dormant company, and each month Digistar will acquired 1 dormant company from them, each RM200,000.
In politic, we vote the party that we believe a bright future is assured. In share market, we can decide which counter to invest ,to hold or chop, u call the shot!
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Posted by sbzk > 2015-03-26 22:08 | Report Abuse
pawn shop not so fast.......mainly on panther 911 and hotel.