It is unlikely that this co can revive, huge debts, low or negative margin, and don't think management is motivated to improve the co as they already got what they want. Previously majority of its profit went to non controlling interest, it is extremely odd. Attracted by its high nta above 1 five years back but luckily scared by points mentioned above. Very lucky. Best for trading only as somehow someone may goreng it.
Jeffereyteck, agreed, this co are in huge debts. A friend of mine who is exec in that co told that until today they still not getting their July salary, and their epf drag for almost 1 year already..so, good luck to those investors..
likko 06, that sound very horrible. Believe many LT investors hit badly if they did not take profit or cut loss in the recent 3 years. In search of good stocks, not easy as most of the management and bod are self focus and not performance base remuneration, the remuneration committee basically is invisible. Anyway, wish everyone good luck.
Out of the 34.4m from RI, 6m will be utilized as staff costs and other administrative and operating expenses .... so, their staff would probably get their salary and epf paid after they ask the RI money from shareholders.
The profit was mainly contributed from sales of development properties for The Opus at Jalan Tallala in Kuala Lumpur, Jesselton View and One Jesselton projects in Kota Kinabalu and The Valley, Karak @ Bentong in Pahang and Phase 1A1 of Taman Nusa Damai (part of Lake Hill ResortCity Development)Masai, Johor.
The Group recorded revenue of RM0.98 million for the 18 months ended 30 June 2019 as compared to the previous corresponding period of RM1.4 billion. The Group recorded a profit before tax of RM54.5million for the 18 months ended 30 June 2019 as compared to the previous corresponding period of RM30.0 million.
The property division recorded revenue of RM342.7 million and profit before tax of RM89.7 million for the financial period ended 30 June 2019 as compared to the previous corresponding period of RM232.2 million and RM45.2 million respectively.
The quarry and ready mix concrete division recorded revenue of RM39.0 million and loss before tax of RM2.2 million as compared to the previous corresponding period of RM70.7 million and RM4.8 million respectively. The power supply division recorded revenue of RM25.5 million from the supply of electricity power to PT Perusahaan Listrik Negara (State Electricity Company owned by Indonesia government) and PLTM Bantaeng and profit before tax of RM3.8 million as compared to the previous corresponding period of RM30.3 million and profit of RM4.7 million.
The lower profit for the 18 months ended 30 June 2019 was due to unrealized foreign exchange loss of RM1.9 million.
The Group will continue to focus on and develop its major business segments, which are in construction and property development. The current value of contract works in progress for the construction of several projects which include Pan Borneo Highway in Sarawak, Malaysian Embassy in Moscow, Russia , 440 units PPR, Pitas and Hotel Kerajaan Tasik Kenyir approximately RM500 million, which is expected to provide a steady stream of revenue for the Group over the next two to three years.
The Lakehill development project in Johor was launched for sales in 2nd quarter 2018 and we plan to have more launches in 2019. Based on the current sales achieved todate for the property development division, the unbilled sales would amount to about RM112 million. The Group would continue with other developments projects in Klang Valley, Johor Bahru, Pahang and East Malaysia with an estimated projected gross development value of RM1.6 billion.
Subsidiary BP Energy Sdn Bhd is still engaging with the relevant parties to finalize the Power Purchase Agreement and also on the financial close. In addition to the above, the Group is currently exploring other business opportunities that would contribute more recurring income to the Group in the future.
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....
powerinvestor
602 posts
Posted by powerinvestor > 2019-08-26 13:16 | Report Abuse
historical low today