Why u said did good job? Why should reward? Been past 10 years in the company, every year make RM700k with RM88m turnover. Borrowing balloon to RM18m, basically using bank funding to do biz. Whole company I believe been leaking, meaning taking out money, simply spent or else won be making RM700k constantly. Why constantly as he has big buffer to adjust. The rest put it privately. Based on what I seen, now under new management for sure certain control is there, no choice he resigned as water no more leaking, cannot cari makan. La. U his good friend?
The new management is exercising prudence and using proceeds from rights to pare down the borrowings. Change of CEO means there will be change of several "koncu koncu" too. Board has been very careful not to rock the boat and as such change CEO only after 1 year after taking over company.
There was no unusual increase in revenue qtr to qtr but profit came back. Means the business is profitable. With its worldwide distribution over 10 countries spread over Europe, Middle East, Asia, its revenue is not derived from local market.
Better Tomorrow...I agree its a long term unpolished diamond..
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BetterTomorrow
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Posted by BetterTomorrow > 2016-07-12 11:29 | Report Abuse
who holding big stake? apart from what i can see the major holdings 29%, the rest are just investors! or you think otherwise?