Even with other good management property company their investors has in dilemma to keep or sell. So with this kind of balia lousy property company such as Gob, of course no need to be hesitated to immediately sell it out. Sure, you wouldn't keep rubbish right? !
Hopeless company with phariah management making a mockery of corporate governance ....... Only know how to do cash call....and then dispose Batu Kawan land for pittance on the dollar....sort of launder monies via setting up a few fronts known as F&B business and make it lose money and destroy shareholder's wealth....thank God..I cashed out everything at RM0.60...
Just an advise...don't ever believe in Desmond Lim and all the companies linked to him ....avoid like a plague...I am not touching WCT even with a 10 feet pole...
Davidkw79, have u totally dispose this so call rubbish stock already? The reason i ask so is be'cos u seems to have plenty of shares to unload by the way u asking ppls to sell everyday.
A glance thru my record, its seem that i sold at RM.0775 (13/12/2013) and the price traded today bet 0.305 ~ 0.315, definitely attract my little attention. ( 60% discount )
Market always presume that this ctn is link to Desmond Lim because Dato Choo Chuo Siong ( Pavreit Director ) has emerged as substantial S/Holder on 9 Sept 2014 with 14,900,000 shares. Recent cash call announcement suggest Choo did subscribe more than 100% r/issue with current shares of 36,048,800 (7.9300 %). I have no idea its Dato Choo own decision to invest or pay by Desmond to be his proxy in GOB. With Choo holding of less than 8% and NOT even sit on the board, TS could dictate the direction of GOB?
Its not right to conclude GOB FY2016 is a lost making year. Generally every 1 knows property sector is enduring a downward cycle , thus a reduction in profits is common for the industry. Market had also react whereby GOB market cap has been reduce by half which i deem harsh and over react.
Lets compare with Ivory Properties Bhd which both under property sector, same par value ( 0.5 ) , very close share issued and register an overall of 2.56 cents eps for FY2016, then u will know how oversold this GOB is.
Back to TA, for the past 10 years RM 0.30 is always a solid support price and launching pad for price to reverse trend except in 2008 ( collapsed of Lehman Brother ) where it recorded a lower of 0.25 cent. I believe this time there is no exception also and the golden question is when.
Acceptable for current shareholders not to pick up extra, but definitely a NO NO for asking them to sell at this price. Akin buy at 0.5 and sell for 0.3, whats the logic here. TQ
It just like if u fall in love with a shit, no matter how bad smell it is, you will still find thousand reasons to say it is fragrance smell. Just don't fall in love to wrong management company and wrong industry at this stage.
Hi! pekor, sad to hear u lose money buying Airasia. Lose money b'cos buying at high side. Try invests with buying when ppl sell, no doubt its takes time to realize profit but most important is the margin of safety.
Summary of GOB cash flow :
1) Cash on hand as of 30th June 2015 = 79.7 Millions 2) Da:men disposal = 488 Millions cash 3) recent r/issue = 112.5 Millions 4) Borrowing as of 30th June = ( 270.8 Millions )
Kindergarten maths 1+2+3-4, and counts other land bank and complete unsold units as freebies.
Ask yourself , do you belief money will evaporate???
Rights issue at 50 cents last year concluded. Those investors that subscribed to the rights are now suffering financial loss. Lousy management and lacking transparency. Selling away Da'men can incur huge losses. China food business also incurred huge losses. Useless directors as well.
No fundamental to support it's price, all money will just go to management pockets.
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Posted by davidkkw79 > 2016-10-10 10:17 | Report Abuse
rubbish stock to watch ?!