Posted by Ooi Teik Bee > 2014-01-07 17:37 | Report Abuse

Dear Kcchongnz,

I want to learn something from you on this stock. I found that CFFO for last 2 years are negative. I cannot understand how CFFO for last 2 financial years are negative. FCF is negative, I can still understand.
Please review the following :-
Year/2013/2012
CFFO/-2773/-5057
FCF/-8383/492

Please help to explain so that I can understand it.

Thank you.
Ooi

Posted by stockcrazy > 2014-01-07 17:44 | Report Abuse

HI Ooi, did you do TA for this counter?

Posted by kcchongnz > 2014-01-07 18:20 | Report Abuse

OTB,
TAS has 26.5 m in “increase in inventories”. This is probably due to cash consumed in some building of AHT, AHTS, or tug boats built and waiting for buyers. They may have some contract works in ship repair of which they claim work has been done but payment not made by customers, and hence the increase consumed cash in “increase in amount due from contract customers” of 16.6m total. They also delayed payment to subcontractor and suppliers of total of 25m which help in their cash flow, otherwise would be worse. These are some of the things which makes “profit” not equivalent to cash received.

Yes, poor in cash flow from operations is not a good thing at all, especially for consecutive years. No free cash flow for a short period may be ok as this may be cash needed for capital expenses for the good of future earnings. No positive CFFO how to have enough money for paying subcontractors and suppliers, and the whole operations and capital expenses? Not to say pay dividend, pay down loan. Pay down loan? Didn’t you see debts has been increasing every year. Worst is short term debt. Because there is not enough hard cash received for the operations.

TAS need cash infusion, more bank loans or right issues, and needs it very soon.

Posted by kelv1980 > 2014-01-07 18:27 | Report Abuse

Taiwanese company plan to buy tas. Owner wish to goreng share untill 1.7
Tas from sibu sarawak

Posted by kcchongnz > 2014-01-07 18:36 | Report Abuse

OTB,

You may also refer to the following link where I try to explain what is cash flow from operations and free cash flows for a simple business here:

http://klse.i3investor.com/servlets/forum/900214344.jsp

I also remember sense maker has explained how a cash flow from operations statement is prepared starting from operating profit when you asked about it recently.

Posted by Ooi Teik Bee > 2014-01-07 19:04 | Report Abuse

Thank you very much for your kind explanation. I run for my life today because of -ve CFFO. Will not touch this stock again.
Thank you.

Posted by Ooi Teik Bee > 2014-01-07 21:33 |

Post removed.Why?

Posted by inwest88 > 2014-01-07 21:39 | Report Abuse

# OoiTB - In total agreement with you.

Posted by coolio > 2014-01-07 22:01 | Report Abuse

no doubt kcchongnz is the best!

Posted by yong > 2014-01-07 22:40 | Report Abuse

kcchongnz :Still can in???

Posted by Joel > 2014-01-07 23:28 | Report Abuse

Aim IPO- ICON OFFSHORE PETROLEUM.
IPO's price is below rm1.00.

Posted by Joel > 2014-01-07 23:28 | Report Abuse

Collect money to hit Icon's price.

Posted by Tessa Joseph > 2014-01-08 10:46 | Report Abuse

C'MON TAS up up

Posted by heavyth > 2014-01-09 20:04 | Report Abuse

Hi OTB...so this stock is out of your list of stock pick 2014 ???

Posted by Joel > 2014-01-09 22:34 | Report Abuse

ppls now are waiting for Icon Offshore Petroluem coming list in bursa soon.

Posted by heavyth > 2014-01-09 22:55 | Report Abuse

Icon Quality stock ???

Posted by clonewar > 2014-01-10 09:56 | Report Abuse

Coming..

Posted by E R > 2014-01-10 09:57 | Report Abuse

luckily i'm holding.. hahahaha

Posted by clonewar > 2014-01-10 10:08 | Report Abuse

u be more lucky E R

Posted by Tessa Joseph > 2014-01-10 11:23 | Report Abuse

go go TAS

Posted by airolikmar > 2014-01-11 03:17 | Report Abuse

Better next week?

Posted by benjamin12 > 2014-01-11 18:17 | Report Abuse

next week jump.

Posted by Tessa Joseph > 2014-01-11 18:20 | Report Abuse

how sure r u? :)

Posted by CityTrader > 2014-01-11 18:23 | Report Abuse

jump out or jump in???

Posted by tonylim > 2014-01-11 18:44 | Report Abuse

☆

Posted by Tessa Joseph > 2014-01-11 18:52 | Report Abuse

tony thats a star :)

Posted by tonylim > 2014-01-11 18:53 | Report Abuse

Yea its gonna be a star come Monday

Posted by Tessa Joseph > 2014-01-11 18:55 | Report Abuse

lovely :)

Posted by leslieroycarter > 2014-01-12 13:44 | Report Abuse

I think it has touched the peak , no more room to go already!

Posted by 3689 > 2014-01-13 10:17 | Report Abuse

Based on chart should rise up. But TAS is unpredictable. Must watch closely.

Posted by Tessa Joseph > 2014-01-13 12:12 | Report Abuse

Wake Up, TAS! Poke! Poke!

Posted by benjamin12 > 2014-01-13 17:01 | Report Abuse

relax today

Posted by Eelyn Soon > 2014-01-13 20:19 | Report Abuse

nice meh?

Posted by azfar8 > 2014-01-15 11:49 | Report Abuse

seeing this stock, i think afternoon will break 1.30

Posted by azfar8 > 2014-01-15 16:49 | Report Abuse

not breaking.... :(

Posted by jeman19 > 2014-01-16 12:32 | Report Abuse

still drop, i think i need to cut a lose then trade a profit counter

Posted by clonewar > 2014-01-16 13:21 | Report Abuse

break your wallet only lah..

Posted by azfar8 > 2014-01-16 16:01 | Report Abuse

RHB call to buy, but they are selling heavily right now....

Posted by stockcrazy > 2014-01-16 20:55 | Report Abuse

strong support at RM 1.20....i just bough in second time....

Posted by Eelyn Soon > 2014-01-16 23:15 | Report Abuse

this is a speculative counter.. it was good last time but not anymore now..

Posted by Madam YS > 2014-01-17 21:16 | Report Abuse

nanti beli hehehe

Posted by Stockman > 2014-01-17 23:19 | Report Abuse

kelv1980 said that Taiwanese company plan to buy tas. Owner wish to goreng share untill 1.7 Tas from sibu sarawak

Posted by CityTrader > 2014-01-18 08:48 | Report Abuse

stockman, whether true or not, it ok n so long there s rumour, price will upside. good n let us wait patiently.

Posted by Kim Yap Lau > 2014-01-20 09:10 | Report Abuse

suspend ?

Posted by azfar8 > 2014-01-20 09:26 | Report Abuse

TAS report profit almost 1 times from previous quarter....

Posted by citytrader > 2014-01-20 09:31 | Report Abuse

Then is it good or not as i dunno about fa, tq

Posted by stockcrazy > 2014-01-20 09:45 | Report Abuse

i believe suspend is due to the report came out last Friday and new secure project from Indonesia....
management is very confident on the next financial year...

Posted by Kim Yap Lau > 2014-01-20 09:47 | Report Abuse

http://www.theborneopost.com/2014/01/20/35-per-cent-increase-in-revenue-for-tas-group/

Posted by Mark T Bird > 2014-01-20 09:51 | Report Abuse

35 per cent increase in revenue? Right on! :-)

Posted by azfar8 > 2014-01-20 10:02 | Report Abuse

yes, come2....