I think you need to have a certain level of understanding if you decide to invest in CMSB.
Prior to covid, the company's has not been traded below RM2 since 2013 (after adjusting to the bonus issue exercise in 2014). It fell under RM2 during the first MCO but managed to rebound back in the 1st half of 2021.
It fall back to under RM2 and reaching to as low as RM1.05 after the governance issue of its construction arm PPES Work (Sarawak) Sdn Bhd emerge in May. As of Dec 2020, PPES NTA is only RM80mil which means CMSB exposure to PPES is only RM40mil (CMSB owns 49% of PPES, the remaining 51% is owned by the Sarawak State).
Even if the outcome of the report is negative and CMSB has to write off the whole of PPES, the amount of exposure is only RM40mil vs its NTA of RM2.9bil. This only represent a mere 1.4% of the company's equity.
Which is why it think that the market might be over reacting a bit with the governance issue.
On top of that the 2022 budget is highly beneficial to the Sarawak state which would also benefit CMSB given the Sarawak State government direct exposure in the company.
Near term positive catalyst would emerge post KPMG report finding if it shows that the exposure to CMSB is minimal. I would assume that CMSB would potentially rebound back to above RM2 level. Hopefully they can finalize the findings by the end of November.
233.5B (operating expenditure) vs 75.6B (development expenditure)
Public servants fully taken care but decided to put a knife private entities. Still got bonus. Should only reserve to frontliners in public heathcare staffs.
6m EPF contributors have less than 10k in their account. I wonder what is the status FOR KWAP?
i repeat audit report aaudit report audit report waait for audit report wait for it wait what prospect what what no use wait for it extend agaain drop again wait for it
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....
Jenny
522 posts
Posted by Jenny > 2021-11-01 15:46 | Report Abuse
这种政治概念股很重的公司,自从希盟上台后就一直被打压。下届大选umno 拿回控制权后这个股就会受到投资者的青睐啦,这种股很依赖主题的,当然基本面也要好。不然只抄概念没有基本面我也不买