KUALA LUMPUR (March 9): Comfort Gloves Bhd is buying a firm that owns 6.142 hectares of agriculture land in Muar for RM25.75 million in a related party transaction.
The land belonging to Goldhill Melody Sdn Bhd (GMSB) has a market value of RM27.1 million, Comfort Gloves said in a bourse filing.
The glove maker believes the prospects of the land are good as its immediate neighborhood is primarily residential consisting of homesteads and small to medium-sized housing schemes with commercial and residential developments.
GMSB’s directors are Tan Sri Lau Eng Guang (executive chairman and major shareholder of Comfort Gloves) and his son Lau Joo Yong (group CEO of Comfort Gloves).
Joo Yong and his mother Puan Sri Goh Kim Kooi own a 40% stake each in GMSB, with the balance held by CN Lau & Sons Sdn Bhd (10%), HN Lau & Sons Sdn Bhd (5%), and LTN Resources Sdn Bhd (5%).
Comfort Gloves said that as at Dec 31, 2021, it had unaudited cash and bank balances of RM334.2 million, and it intends to use some of the money to undertake the land acquistion for investment purposes.
“Considering that property prices have been compressed in recent years due to the Covid-19 pandemic, the board believes that this is an opportune time for the group to invest in the land before property prices fully recover,” the group said.
Comfort Gloves shares slid 0.79% or half a sen to 63 sen on Wednesday, giving it a market capitalisation of RM367.26 million. The stock has declined 38.83% year-to-date and 69.12% over the past year.
Above is catalyst incurred , this fully influence the refrain external off shore , they all since big APPETITE , wanted to JOIN BOAT , MERGER OR JOINT VENTURE , with GOLDWILL MELODY GROUP , not say 25 million , THEY willing to putting BILLION ABOVE funded , just to JOURNALISM the LAND , PROPERTY SECTOR IN MUAR AREA , which , according to LAU , FUTURE MARKET IS EXCELLENT .
Top analyst and Top surveyor in market say , Comfort current ASSET in hand , is LIQUID CASH , holding a BIG CASH IN HAND , can any moment SUCTION to PROPERTY SECTOR , once the BOOSTER FUND is direct positioning .
VALUE Investor got their intelligent to TREASURE my brief , which is which , not such FORCE OR TREACHERY contents , of course all treasury got its KEY ELEMENTS to handle on it , this is UP TO YOUR DIRECTION .
Every single chips buying by my group , will turn to be CHARITY FUND in future , possible BUILD A GRAND EUROPE INTERNATIONAL UNIVERSITY , as contributed to society .
I dubious the outcome , but confident the success road path , once we confident and putting effort on it , never give up attitude , things will ROUND UP in the end .
107 institution EUROPE UNION association , putting allegory on COMFORT future ambitious , way to SUPPORT the EXECUTIVE DIRECTOR , second showing INTERESTING on alliance on education background , SUN RISE the PATH ROAD TO HARVEST FARM , DECADE SUCCESS IN ALL CORNER FIELD CORPORATION WORK PATH .
ALL GLOVE SEGMENT ON CHILI HOT , BLOOMBERG PRESS ALSO LEAK THE INSERT FUND CONFIGURATION , SAY IS A HUGE MIGRATE FUND IN DECADE < FROM EUROPE UNION TO ASIAN ORE .
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....
khatulistiwa1234
46,261 posts
Posted by khatulistiwa1234 > 2022-03-18 16:17 | Report Abuse
Receive news from comrade off shore , later short ward LAU GENTLEMEN distributed ANG PAU for whole COMFORT investor .