Loss-making Frontken Corp Bhd appears to be getting a new lease of life after acquiring 45% in TTES Team & Specialist Sdn Bhd for RM11m, which includes an RM8m profit guarantee for two years. Not surprisingly, shares of Frontken have made their way to the volumes list. On Friday, the stock was last traded one sen higher to 13.5 sen on a volume of 9.89m shares. The active trading in the stock has given rise to speculation that a corporate exercise could be brewing in the company. TTES is an engineering services provider which also owns a licence to supply and provide services to the Petroliam Nasional Bhd, or Petronas, group of companies.
•The company announced the acquisition of TTES at end-April in a bid to expand its footprint in the booming oil and gas (O&G) sector. •While the acquisition of TTES was done at a P/E of 23.9x based on TTES' earnings of RM1.02m for its financial year ended Dec 31, 2013 (FY13), the PER reduces to 6.1x based on the guaranteed profit of RM4ml per year for FY14 and FY15. •At present, the single largest shareholder of Frontken is Jorg Helmut Hohnloser, who owns 28.82% in the company (StarBiz)
today is just testing testing water.....syndikit very sure want to GORENG this frontken......same time operator will pump out good news.....together GORENG KAW KAW
2013 and 2014 no insider dealing at all! this yr recording good profit no insider buy? any one can comment? don't know want to hold or change to globetc?
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....
simondino
198 posts
Posted by simondino > 2014-09-09 09:44 | Report Abuse
good morning. TP today 0.185?