Apart from making 5.3 million or 6.32 sen a share from business operations, the value of its available for sale investments also increased by 6.8 million or 8 sen a share and its NTA increased by 11 sen.
Wonder who knows what is this "Higher other income was primarily due to incentives received by the associates in Jiangyin." Aparently this contribution of associates profit contribute around 5mil to the group result.....
Don't really know what kind of tricks he has up his sleeve. Since Facbind is so much undervalued, the most logical thing to do is to use some of its spare cash to buy its own shares in the open market.. Only around 55 million shares are in the hands of small shareholders and shareholders who are not associated with the Directors. Just RM 71.5 million, or less than half of its total cash reserve is sufficient to buy up all these shares at RM 1.30.The company directors aren't working for the interest of the company.
this is a typical example of value trap as management does nothing to create value and there's lack of price catalyst. hidden value in this company is for everyone to see...its net cash per share is 40% more than the share price.
Facbind has RM163 million cash or 191 sen per share. It has available for sale investments (more than 300 million Karambunai shares) worth another RM20 million.
Facbind's cash has gone up to RM 167 million in its latest quarterly report. At 8 sen a share, its 339 million Karambunai shares are worth another RM 27.1 million. Cash + shares are already worth RM 2.28 per share.
If the company directors do not know what to do with it's over RM 150 million cash pile, just distribute the money to the minority shareholders as dividend and let them decide what to do with their money.
Based on latest financial data as at 30Sep, its CASH per share stood at RM1.77 ! If you include their quoted shares and bond (total RM38.8mil), its CASH and CASH EQUIVALENT per share goes to RM2.30 !! This company has no borrowings. they are doing the "Dreamland" mattress. Most of you may buy this product before. Subject to privatization, and possible at RM2.30 (against its Net Asset of RM2.57 per share). At current price of RM1.20, you are buying at RM1.20 in exchange to cash in the company for RM2.30.
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Posted by firehawk > 2017-02-20 23:09 | Report Abuse
last minute push up .... tomorrow?