Poor shareholders got nothing, not even scraps after company made big Profit from land sales!!EDs n BODs enjoy fat salaries n fees whilst poor shareholders continue to suffer in silence! Latest acquisition of land for RM19m for a leasehold land with lease expiring in 2020 (6 years) to go does not bring much confidence! Sell sell sell n invest other better counters in KLSE
not dare to buy although have holding power,follow it since price maintain from 695,huge dropped counter!i think company facing internal profit sharing or? no good management?
<<<<A good candidate for a privatization exercise with dividen yield 8%. >>>>
FARLIM GROUP (MALAYSIA) BHD: Issued & Paid-Up Share Capital RM140,326,100 (140,326,100 ordinary shares of RM1.00 each)
The company is involved in property development. It is currently (Nov 2014) developing the Bandar Baru Ayer Itam township.
It has not been very aggressive in undertaking new projects. Property development cost had been flattish between rm17 million and rm20 million in the past four years.
Its book value stood at rm1.08 per share. Its assets understated as it holds land bought at low prices. The company has 208 acres of land in Terengannu (Mukim of Kertih, Kemamam) with a book cost of rm1.6 million or 17.7 sen psf and 2.23 acres in Penang carried at rm4.2 million or rm43.3 psf. Both plots have not been revalued since 1998.
It appears to be a good candidate for a privatization exercise based on prevailing valuations due to :
-With borrowing only Rm531,899. -Cash is King. Strong net cash positon, net cash is around Rm96,815,624 as at Dec 31, 2014. -Net cash per share is around Rm0.69,accounted for 110% of share price. -It holds land bought at low prices. -Proposed a first and final single tier dividend of 5 sen per share in respect of the financial year ended December 31, 2014, share price should be supported by dividen yield ^8%^. -TAN SRI DATO’ SERI LIM GAIT TONG through Farlim Holding Sdn Bhd owns a 43.2% stake. Will TAN SRI DATO’ SERI make a move to take over the company? ========================================================== To privatize the company, assumed TAN SRI DATO’ SERI making an offer of Rm0.70 per share or Rm56m @ 56.8% Paid-Up Share Capital 140,326,100 ordinary shares of RM1.00 each, he will immediately own the Rm40m cash of the company. ==========================================================
The highest dividend paying stocks in July with dividend yield of ^8%^. Dividend is 5 sen per share. The entitlement date for this dividend is on 08 Jul 2015.
Up!Up!Up!Up!Up! Bravo, for Farlim management. We, minor shareholders got something from its assets sales!
冷眼 ---现金为王--- 从消极角度看,长期拥有大量现金,被视为企业主没有充分利用资源,以加速企业盈利的增长。 但从积极的角度看,此类股票具有强韧的生命力,经得起暴风雨的吹袭,“现金为王”,此言不虚。 Cash is King. Farlim is a company which has net cash per share of Rm0.69 as at Dec 31, 2014. .
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TEOH88
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Posted by TEOH88 > 2014-08-07 09:20 | Report Abuse
no more hope!