zero div since 1999, rolling quarters eps -3.3, pass 5 years operation is waterfall-ing. plus negative net free cash, land sell is unlikely to benefit common shareholder
mg42..u r trying to convince ppl throw the shares at lower price so that u can collect it and earn a big gain later when FL flies within this 2 weeks? I think you should know the reason why this counter has been sleeping so long time but suddenly becomes so active in term of volume? Think
Interesting. Just browse through some announcement and last year accounts. Note 12 & 5 of last year accounts showed company swap an amount owing by a company controlled by key persons with 1/4 share of a piece of land at about 57 million. 57 million?? That is quite a high % of the total value of the company. What is the actual market value now with Penang property price shot through the roof. Who own the balance 3/4 ? No answer from the a/c. The company directors was fined recently by authority for non disclosure of material transaction. Could this round of share prices jump be another similar violation incident ?????????
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS FARLIM GROUP (MALAYSIA) BHD (“FARLIM” OR “COMPANY” OR “VENDOR”) PROPOSED DISPOSAL OF LANDS FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM112.50 MILLION FARLIM GROUP (MALAYSIA) BHD
Type Announcement Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS Description FARLIM GROUP (MALAYSIA) BHD (“FARLIM” OR “COMPANY” OR “VENDOR”)
PROPOSED DISPOSAL OF LANDS FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM112.50 MILLION On behalf of the Board of Directors of Farlim (“Board”), AmInvestment Bank Berhad wishes to announce that the Company had on 23 September 2013 entered into a conditional sale and purchase agreement (“SPA”) to dispose of the following:- (a) ¼ undivided share of freehold land of Lot 1561, Section 3, Town of Air Itam held under No. Hakmilik GRN 43187 (“Lot 1561”);
(b) ¼ undivided share of freehold land of Lot 1584, Mukim 13 held under No. Hakmilik GRN 53264 (“Lot 1584”); and
(c) 11/100 undivided share of freehold land of Lot 1457, Mukim 13 held under No. Hakmilik GRN 4661 (“Lot 1457”),
all within the district of Timur Laut, Penang, measuring an aggregate gross area reflecting the undivided share of the Company in and to the above lands of approximately 1,022,742.96 square feet (collectively known as the “Disposal Lands”), to 1MDB RE (Ayer Itam) Sdn Bhd (formerly known as Aluminium Development Company Sdn Bhd) (“1MDB RE (Ayer Itam)” or the “Purchaser”) for a total cash consideration of RM112,501,725.60 (“Disposal Consideration”) (“Proposed Disposal”), or RM110 per square foot. For the purpose of this announcement, all of the three (3) Lots 1561, 1584 and 1457 in their entirety shall collectively be referred to as the “Lands”.
Please refer to the attachment below for further details.
Is time for small cap play now, Focal, Narra, Wong, Farlim, MPcorp, Hibiscus-Wa, Fcw-Wa to name a few. There will be more like Abric, Tawin, YKGI , Minho and all the odd counters which are still deemed undervalued.
The interesting thing about the recent disclosure is: what is not disclosed i.e. who own the balance of 3/4 of the land - that is few hundred million masuk pocket base on the same valuation.
New IPO: Carlo Rino Group Berhad, a leading fashion retailer of women’s handbags, footwear, and accessories, aims to list on the ACE Market!
MQ Trader 83 views | 15 h ago
0:17
New IPO: A homegrown air fragrance company, Vanzo Holdings Berhad aims to list on the Ace Market!
MQ Trader 212 views | 1 d ago
0:17
New IPO: Winstar Capital Berhad, a specialist in the extrusion of aluminium profiles and fabrication of aluminium ladders aims to list on the ACE Market!
MQ Trader 378 views | 2 d ago
0:17
New IPO: Topvision Eye Specialist Berhad, specializing in medical eye care services aims to list on the ACE 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....
Cheh Chee Wai
9 posts
Posted by Cheh Chee Wai > 2013-04-09 19:01 | Report Abuse
sold at 25cent and now its 30!!