According to data from the General Administration of Customs of China, the export volume of disposable gloves in 2020 will increase from 10.1 billion per month in the first two months before the epidemic to 46.2 billion per month (November of the same year), an increase of approximately 3.6 times.
stock good fatt Are you aware that instead of paying dividend for the profit they made, they use almost the whole reserve of RM85m to buy over a company with net worth of only RM600k, is it really good for the shareholders by doing this? I doubted deeply and will explore the effectiveness to report this to the MACC It is seemed like a daylight robbery and they take the minority shh for a ride. This is a very bad corporate governance they are practising.
We invested in their company based on their profit making capability but ended up being vitimised for their recent proposal. As minority shh, we should NOT condone to this and must attend the forthcoming EGM on 29/7/22 to object.
Zaaz_ri Relooking the financial statements of Evermix in details, I have found this unfavorable remarks:-
1. The sales were dropped from 199m to 161m in 2021, ie. 20% 2. Gross profit is only 12% 3. NPAT was only 2m, i.e. 1.8% (worse than FD rate) 4. The whole 60m retained earnings doesnt match with the actual net worth of the company as it has only actual cash of 20m and at the same time it has 55m debtors and 47m creditors plus the bank borrowings of 12m, virtually off set the entire asset value of the company. The real net worth seems to be the cash & bank value of 20m , plus the fixed assets of 38m (of which the valuation is a question mark).
Thus to pay 85m to buy over the company for the net worth of only 20m cash plus some Fa of 38m which in turn will only generate 2m per year, need us to say more what kind of proposal is it?
and 2m/85m is 2.35% return, and 85/2 will take 42 years to recover its capital, does it benefit the shh? (Remark on comment of 600k net worth, its my oversight and I retract it with apology)
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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....
amateurJR
2,366 posts
Posted by amateurJR > 2022-06-15 16:05 | Report Abuse
Drop for no reason. Instead its financial is very healthy