Performance of the current quarter against the preceding quarter For the current quarter ended 31 October 2016, the Group recorded revenue of RM13.4 million as compared to RM9.5 million recorded in the previous quarter ended 31 July 2016. The Group’s revenue significantly increased by 41.1% mainly in revenue increase from subsidiaries involves in information technologies (“IT”) and a group of subsidiaries involves in dealing with a wideranging choice of security and video surveillance equipment. The Group recorded a loss before taxation of RM2.3 million for the current quarter ended 31 October 2016 as compared to loss before taxation of RM13.9 million recorded in the previous quarter ended 31 July 2016. The significant decrease in loss before taxation recorded in the current quarter was mainly due to the provision for doubtful debt of RM9.6 million in previous quarter. Current year's prospect In view of the uncertainties and challenges ahead, the Group is expected to continue and focus on the development and future growth of its existing businesses. The Group has also diversified and ventured into property development sector through Nexgram Land Sdn. Bhd., a wholly-owned subsidiary of Nexgram Holdings Bhd, which has entered into an Off Take Agreement cum Sales and Purchase Agreement with Myangkasa Bina Sdn. Bhd., which its ultimately 100% owned by Angkatan Koperasi Kebangsaan Malaysia Bhd.. The property development project is to develop parcel of lands in Putrajaya and Cyberjaya which involves a residential development of two (2) block 35-storey on a 5.3 acres commercial land and a mixed commercial development comprised of corporate office building, small office home office (“SOHO”), commercial retail shop and high-end suites apartment on a 5.9 acres commercial land respectively. The Development Order has been obtained for the Cyberjaya project. The total Gross Development Value for both project is estimated RM1.45 billion. The expected full completion date of the both project will be in the year of 2020.
There is error in the report. Additional '000 which is not good as showing incompetence of the financial guy in the company. The QR is showing losses. However i have not much concern as the Net asset value is still exceeding 0.10 at one glance.
loss 2 million... ok... not too bad... expenditure for the 2 angkasa project... maybe design works... pre-commencement expenses.... professional payment etc.... all these need money.... ok... as announced by chairman project will commence by next year april 2017... money need to spend these period.....
angkasa project must commence... once take off... sure fly... they have already announced in agm... that the 2 projects will start april 2017. there is no more reason why these 2 projects don't start. project aldy on hand...
see KFM, MQtech... fart only can fly. nexgram is confirmed with more than 1 billion projects on hand... is only the reputation of tpy, oka and chong are no good... wait now... I believe the co has no problem... is the person who managed it, must be serious, no more hanky panky...
1) the company must be clear on what they want to do.. either telecommunication or construction/ development- identify their identity. Who you want to be? for me now is neither here or there. 2) For construction and development, it will be better they bring in big muscle to develop for them and at the same time leverage on the name . As we all know they are not a famous / well known developer. Properties market is tough at 2016 and i won't be surprise if it is going to be tougher on 2017. Even famous developer have problem off loading their newly development. Bank has been more stringent in lending money and it is not easy to get a bankable name in the market. 3) cyberjaya they can consider selling the property to foreigners from china provided the property is above 2M which unlikely happen as only commercial lot will fetch this value in that area and even the china people buy, they will be more keen on housing especially if their offspring is studying in Xiamen University. 4) reconsider the people who is hire inside as publishing a financial report with extra is "000 is ridiculously insane. and the way they highlight the losses i think this person whoever wrote is too rigid. as an investor who looked at the words losses in the morning, it is really not very encouraging. if i were to write, i will say decrease in losses.
nexgram - they don't need to sell. nexgram only responsible to built and sell back to angkasa. tis is a guarantee project, no need to headache on sale.
most companies nowadays are already diversified. cannot stay in 1 sector. nexgram a holding company, not possible to stay in only 1 sector.
angkasa project - built and sell back to angkasa. what name?
others - prism 1 project... build and sell..to those low to medium income grp at affordable price... ppl grab... like in JB, those prism 1 projects, construction still not completed, aldy grabbed and sale done. Plenty of low to medium income (some actually high income, but hide their wealth also buy... hehe)....
I guess we all misunderstood when we saw angkasa. They can undertake but they also have to sales to their member if they take up. As i know off, their role is more to underwrite and the members will buy and the payment will be through salary deductions.
Angkatan Koperasi is a co- operative established in May 1971 under the Co - Operative Societies Ordinance (1948) to unite all co- operatives with the main purposes of: - representing Malaysian co - operative movement at both national and international levels; striving for, supervising and protecting the interests and developments of its co- operatives members especially as well as the co-operative movement in general; and easing the operations of co-operative members.
The project agreement was signed on 2014 and been delayed until now. Looking at the way they say they want to fund the project, we know that angkasa will not paying to them during the construction going on . There will be no milestone collections.
Totally agreed with the diversification but my view is the identity must be there and solid. what is they good at? Many big organisations like Kuok group also have many businesses but we all know at the starting they are very good with sugar and he is sugar king before he also proceeded to be refinery oil big boss.
nexgram sure will goreng 1 time .... at least... cannot be like that only... highest nexgram go is 15 sen.. sure or not? with those mega size project if pick up ... only 15 sen? compare to other counters, consider nexgram not bad after all. with cash on hand, project on hand....
steveooikp. There is a lot of affordable home coming up nowadays and furthur more election is near. I have invested small sums of money in Nexgram because i also saw that this counter is cheap now and there is potential. My current shareholding is 175,000 units at 0.04 and that is merely 7k only. Thought of buy in more if there really have solid plan.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
steveooikp
4,689 posts
Posted by steveooikp > 2016-12-29 15:06 | Report Abuse
ya. engine starts now