MacDee 34,@ can you please share your information with me, tell me more in detail about bad assets of 1.2b which turns the company's NTA into negative. I am very interest in this issue. could this Billion dollars of bad assets be impairment losses ? trading debts which are not recoverable ? or JV losses ? can it be that the company did not transfer the bad assets as to the P & L accounts and caused the external auditors have qualified the reports. I hope you are pleased to raise up the problem for discussion in this forum. Thanks MR. MacDee34.
Hcthey, just read the auditors report. Check the news all posted in the past here in the forums. These are not things to discuss and form opinions. They are just the facts. The YU family has caused all this mess in the market with books that after 18 months can't be audited resulting in the auditors to resign. JV deposits showing as an asset are not assets as currently booked. How to collect 1.2b in deposits from a bunch of RM 2 companies?
Mr. MacDee34, I have retrieved your old comments which you wrote sometime in 2 months ago, I have got the answer. Thanks for your old comments. It is something about 1.1 billion in assets that cannot be legally accounted for. Thanks.
@MacDee Did you notice that a lot of properties are pledged as security for banking facilities granted to the group as disclosed in Note 20 “Loans and Borrowings”. Total value of properties pledged is rm1,435,018,601 and Loans and Borrowings in Note 20 is rm909,126,463.
I am just involved with this counter yesterday, when I go through the quarterly reports, I found that it is nothing wrong with its balance sheet, so I jumped in yesterday and and bought some for investment. Luckily it rebounds this morning and I am able to make some profit. Yesterday's selling price was the lowest amongst 52 weeks, that is why i am attempted to buy some shares only. As whether the company is going well or not, I have to keep an eye on it. I am still holding the reason on the reason that it plunged down from 5.20 until today. Anyway I say thank you to Mr. Macdee34 for his valuable information provided.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2938 views | 2 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
Stocks888
586 posts
Posted by Stocks888 > 2024-01-23 11:59 | Report Abuse
Buying 0.555 jual 0.80 thanks 350K shares !!! Nice Tq