Posted by fl888 > 2017-11-29 00:22 | Report Abuse

What happen to the RM66 million due from the Govt as this Govt project was completed more than 2 years ago, funny no mention of it otherwise the profit could have been RM71 million this final qtr !, in balance sheet got nearly rm80million cash against share capital of rm95million, which looks too good except for their rm200++ million bonds，，，，think should be a good buy at 13.5 against NTA of 16

Posted by fl888 > 2017-11-29 08:51 | Report Abuse

Hopefully Govt will pay RM66million by next qtr and monthly lease of RM3million promptly,,,

Posted by winwin2288 > 2017-11-29 08:57 | Report Abuse

nice, will goreng again ?

Posted by blurG > 2017-11-29 09:03 | Report Abuse

They did mention just collect back 14.7mil this qr, now govt still owe Digista 70.6mil. The bonds start borrow in year 2013 for property development segment. In 2018 need to pay back 60mil for bond so no dividend payout expected this qr, dividend might giveout incoming qr coz only 20mil pay back 2019. So curr liab got 60 mil bonds. U can check back the schedule in annual report 2013. More people is hire shown in administration expense mean business grown up as they do ICT service not production or manufacturing can't expected got high NTA.

Posted by blurG > 2017-11-29 09:14 | Report Abuse

What I hope is we should elect whole new independent directors, current one seem like no ganqing with govt, payment and big project never link back to company, just know take director fee from company only. People who take this independent non managing director should have good network, so dun hv any kacau and get good payment.

Posted by fl888 > 2017-11-29 09:33 | Report Abuse

imagine a Govt cannot pay RM66 million or finding excuse not to pay, rather embarassing to outside world....or non transparency in payment,,

Posted by VenFx > 2017-11-29 09:34 | Report Abuse

Akbukhary bro,
恭喜恭喜

Posted by Albukhary > 2017-11-29 09:45 | Report Abuse

Government sure need to pay, just not sure how long it will drag.

For the past 5-10 years, most of the government project are under PFI scheme (Private Finance Initiative). That mean, Government will provide the land, and private sector will finance and construct the building, then Government lease back the building for a certain period with certain rental. After the concession period end, the building will be surrender to government.

If Government start to drag payment, then company cannot pay back the loan / bond, then government reputation will be affected, because bank give loan to the company based on the guarantee rental agreed by government.

If government default, then bank wont release loan to other PFI project, and the whole country infrastructure project will be suspended immediately.

Posted by Albukhary > 2017-11-29 09:46 | Report Abuse

VenFx, why congrats me, I'm still making many many losses in this counter... haha

Posted by AK2899 > 2017-11-29 15:39 | Report Abuse

Albukhary may i check with u this Qtr , the Trade receivables RM172,540,000 any idea what is this about ?

Cash that pledge in FD also increase for this QTR - Fixed deposits with licensed banks RM73,406,000.

Posted by fl888 > 2017-11-29 16:02 | Report Abuse

Hope trade receivables do not become bad debts....

Posted by fl888 > 2017-11-29 16:04 | Report Abuse

Why is the directors not buying after declaring of their intention to deal , ,,

Posted by VenFx > 2017-11-29 18:08 | Report Abuse

Akbukhary bro,

As long as you hv faith in Digista , the favor shall return to you .

At present 0.135 got average support ,
Need more positive momentum or good vol. to push through R1 @ 0.165 :)

Posted by Albukhary > 2017-11-29 18:47 | Report Abuse

Hi AK2899, let me explain to you based on my understanding.

I have ask many accounting expert, but no one can give me a satisfy answer, so I analyse it and come out with my own conclusion.

In order for you to have a better understanding, I will illustrate it with other scenario:-

Company A sign a contract with Company B, where Co A will build a Cruise at RM180mil for Co B, and Company B will lease the Cruise from Co A for 15 years, and the rental is RM3mil per month.

So in the Balance Sheet, Co A has incurred RM180mil to build the cruise, but the Cruise is not belong to Co A, so it cannot recognized as Fixed Asset, so it have to recognised as Trade Receiveable.

Then every month Co A issue invoice to bill Co B for the rental, so the rental will reflected in the Revenue. How about the cost? What is the cost incurred for every month? Actually there is no cost, because the cost has been pre-incurred when Co A build the Cruise. So, in order to match the sales, accountant will slowly recognised cost, so you will see the trade receivable getting lower month by month (similar to depreciation concept).

After 15 years, the Trade Receivable will become Nil, and the rental revenue also no more, and the cruise belong to Co B.

The above is a very simple scenario, so it cannot direct reflect the Complexity of Digistar Scenario, because it involved intercompany billing (Government award project to Indera Persada, Indera Persada appoint Digistar Holding S/B to construct the building, and Digistar Holding S/B outsource it to main contractor....etc).

If you company this QR with previous QR, you will suprise why the Non-Current Trade Receivable increased from RM153mil to RM172mil (increase by 19mil)?
There are two reason:-
i) Over-recognise cost in previous quarter, so now they adjust back. That why you see there is no COGS in current quarter.

ii) Last quarter the trade receivable in Current Asset is 61mil, if we added on this quarter sales 20mil, total trade receivable should be 81mil, but why it suddenly reduced to 37mil (reduced by 44 mil).
I suspect the reduction of 44 mil, 19 mil has been transfer back to Non-Current Trade receivable, and balance 25mil has been received from government.

The above is just my own interpretation, please correct me if I am wrong.

Posted by Albukhary > 2017-11-29 18:58 | Report Abuse

For me, Digistar business should be very easy to understand.

Government pay rental RM3mil per month, so 1 year is RM36mil.

Digistar paid bond interest around 5% x RM280mil, so 1 years is RM14mil.

The Trade Receivable RM180mil divided by 15 years, so 1 year recognised cost RM12mil.

The cost to maintain the building (i.e. grass cutting, M&E repair here n there) - RM2mil per year

Gross profit should be RM36 - 14 - 12 - 2 = RM8mil.

Then I assume the Hotel business, IT business, CMS business can earn enough to cover all the cost (director salary, staff salaries, office rental, hotel maintenance...etc), then Digistar should earn minimum RM8mil per year.

Next year onward, after Digistar settle the 1st Tranch of bond RM60mil, it debt will reduced to RM220mil. So this RM60mil debt repayment will increase its profit by RM3mil per year, become RM11mil.

At the same time, if Digistar can clinch another similar project again, then the profit will be double , become RM22mil.

Posted by AK2899 > 2017-11-30 01:59 | Report Abuse

AK2899 Akbukhary thank you so much and so far i buy digistar also because see u so hardworking sharing so many good comment related with this counter , i believe previous Qtr result no good due to private placement because the lower the price , the lower the private placement can get it. (Boleh Land) apa pun boleh. who know the PP is done by dato or his relative.

One more quick Question : - If u see 8 Gross Profit, how much is the EPS u see ? :p

any how thank you Akbukhary

Posted by fl888 > 2017-11-30 09:44 | Report Abuse

Why this Mejar Wira Datuk Lee dare not deal in Digistar when approval has been granted by KLSE, is he a former military personnel ? looks like a coward in war lah....

Posted by klsefighter > 2017-12-04 13:26 | Report Abuse

Datuk Lee is buying .. 900k @ 0.14 ... BUT ..... WHY The price still keep dropping leh ?????
Company make profit ... Low price on private placement .... Major shareholder acquired shares ...
But funny the price deny to go up why? Who is the one keep disposing ????

Posted by telephone > 2017-12-04 16:34 | Report Abuse

@klsefighter, because we 估他唔到。。。。

Posted by fl888 > 2017-12-04 19:20 | Report Abuse

Datuk Wira should be change to Datuk Pariah as dare not buy at 13.5 cts.....

Posted by klsefighter > 2017-12-05 16:16 | Report Abuse

Get ready guys... 0.12 coming very soon ... Time to pick it up ...

Posted by fl888 > 2017-12-05 20:16 | Report Abuse

Why Govt cannot pay them the overdue lease payment in one lump sum?..

Posted by kahsoon888 > 2017-12-08 10:42 | Report Abuse

Aiyo, still not 0.12

Posted by moneykj > 2017-12-12 17:54 | Report Abuse

Strong support at 0.13

Posted by moneykj > 2017-12-13 16:43 | Report Abuse

Wait no more....Buy for Jan

Posted by telephone > 2017-12-18 16:47 | Report Abuse

Eh, mengantuklah gua tengok counter nie....

Posted by klsefighter > 2017-12-24 23:37 | Report Abuse

After private placement now issue bond .. This co really broke ... Sigh!

Posted by Albukhary > 2017-12-26 10:22 | Report Abuse

Digistar keep on raise fund.... is either something wrong, or something is brewing.

Those haven't invest in this stock, please stay aside, don't risk your money.

Those who invested recently (< 1 year) and feel pain on the losses, can consider to cut loss, there are many good counter out there.

Those who invested long long time (i.e. 3-5 years) and already no feeling about the huge losses incurred from this counter, it is worth to continue to stay until the last card reveal, to see whether Datuk Lee is holding a Spade Ace, or a lousy Diamond Three.

Posted by NoPainNoGain > 2017-12-26 11:57 | Report Abuse

An already low price turn lower...and then much much lower.

Posted by Sanatan > 2017-12-26 16:29 | Report Abuse

Looking at the 12 mths trend it is now at the lowest point. We don't know whether it has reached the bottom yet.

Posted by blurG > 2017-12-26 18:04 | Report Abuse

Invested less than a year, entry price 0.20 average until 0.167 and I am still confident with it.

Posted by klsefighter > 2017-12-26 23:05 | Report Abuse

How low can it go some more ? I better wait for it drop to 10 cents only average down to lower my cost.

Posted by 179173 > 2017-12-28 11:32 | Report Abuse

Cut loss is the best way to play shares, never never buy more and averege down.
I rather cut loss and go for others counter.

Posted by Ywchew8255 > 2017-12-29 09:41 | Report Abuse

Cut loss now !,bad news coming

Posted by YouBuyIBuy > 2017-12-29 13:22 | Report Abuse

When everyone is panic, here I am to collect 0.125 :)

Posted by telephone > 2017-12-30 10:13 | Report Abuse

Wishing all of you here Happy New Year. 希望明年会更好.

Posted by YouBuyIBuy > 2018-01-02 12:40 | Report Abuse

I think is time to up soon

Posted by lchits > 2018-01-02 16:48 | Report Abuse

Hahaha,,
I like your spirit anyway,,bro

Posted by Albukhary > 2018-01-02 17:25 | Report Abuse

Today all counter in my portfolio rise, EXCEPT this Digista.
Really no word..

Posted by kahsoon888 > 2018-01-02 19:37 | Report Abuse

Finally 0.12

Posted by klsefighter > 2018-01-02 20:27 | Report Abuse

This co need money badly ... That's why keep selling shares ... Like that how to go up ler... Sigh!

Posted by YouBuyIBuy > 2018-01-02 20:46 | Report Abuse

Ok la tomorrow I come rescue this. 0.125 all mine

Posted by klsefighter > 2018-01-02 21:09 | Report Abuse

No hope lah .. I better wait till it drop to 10 Sen only average down.

Posted by YouBuyIBuy > 2018-01-03 16:55 | Report Abuse

Thanks, 0.125. Sapu

Posted by Albukhary > 2018-01-04 00:09 | Report Abuse

Digistar current share price is 12.5sen, market value is 82mil.
If market value increase to 300mil, that mean share price will be 45sen..

Erm... Let's wish for it.

Posted by klsefighter > 2018-01-04 08:38 | Report Abuse

Hi! Albukhary what is the reason digistar market value will increase to 300 m ?

Posted by Ivy Che > 2018-01-04 10:41 | Report Abuse

Everyone celebrating happy New year,
ONLY YOU.....

Posted by firehawk > 2018-01-04 10:45 | Report Abuse

Ha Ha .. major Lee is impotent ...

Posted by fl888 > 2018-01-04 10:46 | Report Abuse

Took cheap Viagra by Major Lee, has become Minor Lee...

Posted by klsefighter > 2018-01-04 13:17 | Report Abuse

Major Lee sendiri po kai bo lui how to goreng ler , change to another counter is the best solution .