read the announcement. after 2015 right isuue, the management right issue again in 2017. this time you think it off as would it be worth it or not. right issue 2017 will be icps at 5cents with warrants. warrants exercise price is at 10cents. some more proposed variation of existing warrant at the deviation of 34%. for the whole exercise, do take note that the management foresee previous private placement for the directors at 13cents is not enough to fund the working capital, setup new coating plant and acquisation of hrlsb for 16mil. hrlsb is directors owned company. right issue is proposed to be fixed at 16cents. what say you? strong uptrend? be smart in making money. don't let the chart used you.
Of course by looking at current business perspective and situations, being depending on acrylic business itselft would be quite tough for the management in longer terms. But if you behind the book, the efforts that being given by the management, action speaks louder than words. diversifying into property development which they acquire hrlsb that already have a parcel of land including approval from authorities to develop and turns the empty land into commercial land with gdv of aorund 50-80 millions, should be a good start. being able to acquire PT Rimba in Indonesia which in advance have secured the contract to construct/develop/operate/maintenance of 12MW hydro power plant with contract value of 92mil, would be enough to keep the company busy at least for another 2 years. What i foresee in these power plant is, the attractive recurring and stable income that can contribute to the top line earnings.
As a conclusion, imo, in longer terms, it is worth to invest into these type of low profile companies where the management are committed to unlock and improve shareholder value by diversifying its business model to generate recurring income and increase in revenue.
Busy Box, i have been followed your comments, dated 30 May, you claim the management is bad, and on 7 May, you have totally different view and comments.
before new management i noticed this company has RM18mil borrowing and profit of RM700k almost every previous years, seem like they adjusted nicely.
After new management, I also noticed they raised fund and all the money been used wisely repayment of bank borrowing which stand now based on last report is RM2mil and Total Cash in bank is RM15 - 18mil. Receivable improved, Inventory improved. and well diversify into other business.
Up to investor to comments, acrylic business is heritage from previous owner,. like it or not still need to maintain and after all although is tough business , i think they have done good job to at least improve it.
I do have some of this stock. will keep it for slightly long term for their hydro plant result
Only one day show la bro. After a while, director need some money. Few cents gain enough. In fact don't forget 27 Nov is right issue date. 13.5 cents. Cheap skate strategy..
Salam , pikiran sy stok ni akan pecut baik je ppa hydro power dpt, mungkin managemen harus update investor kita semua perkembangan terkini atas hydro power di Aceh tu. Utk sy sebagai investor ikan bilis, sy dlm pandangan nak invest longterm, walau macamanapun kalu asiapol ni kekal bagi dividen setiap tahun sy akan tetap invest. Moga hydro power projek tu akan jlnkan dgn tetap dan cepat, bayangkan 30 tahun consasi, TP RM1 keatas.... maafkan sahabat sekalian ini pandangan sy je...
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Busybox
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Posted by Busybox > 2017-06-07 05:09 | Report Abuse
read the announcement. after 2015 right isuue, the management right issue again in 2017. this time you think it off as would it be worth it or not. right issue 2017 will be icps at 5cents with warrants. warrants exercise price is at 10cents. some more proposed variation of existing warrant at the deviation of 34%. for the whole exercise, do take note that the management foresee previous private placement for the directors at 13cents is not enough to fund the working capital, setup new coating plant and acquisation of hrlsb for 16mil. hrlsb is directors owned company. right issue is proposed to be fixed at 16cents. what say you? strong uptrend? be smart in making money. don't let the chart used you.