komark corp got a lot of hidden assets, with high net tangible assets rm1.49 as well as comfortable earnings eps 2.68cents.proforma could be perform better due sale of lands. crossly undervalued.
yess saufi74...ur observation is right...i wanted to enter at 0.65 - 0.67 last thursday but no agung to backup...i focus now on gob n redtone ...so i miss the price becoz komark need holding power...best to u fren..hope u make more agung ..gud luck
Price rose 67 sen within 5 days but it went down by 66 sen within the next 5 days.Can play but be alert and don't be greedy.Co. buy back own share on a regular basis.
The truth of running up of Komark share price lately have been revealed. On 28 Jun 2013, Komark Board receive EGM request from substantial shareholders Lim & Tan, holding 18% to remove all the directors, including founder Koh family. Based 2012 annual report, Koh family were holding 21% in Komark. During the yr 2013, both Koh family, Lim & Tan, buying share in the open market. On 24 Jun 2013, Komark annouced a private placement 10% share, at price not less than RM1, target be completed by 3Q13.
Komark Net Assets @30/4/13 is RM1.52. At current price @ 12/7/13 78Sen, It is mean the share price still GROSSLY undervalue? May be not, since the Komark just breakeven dont make lot of money, not having a great biz model. Somemore, auditors is not big Four auditor and thus cannot give investor adequate assurance that the NA is at RM1.52. Komark has a simple Balance Sheet with Fixed Asset @ 30/4/12 at RM152mil. Bulk of it is Land & Building RM32m (may be undervalue) and Plant & Machinery RM85m.
Anyway, just wait to see whether the share price can move further up and close to RM1 private placement price. Heavy doubt Tan & Lim are able to win the battle since it is unknown how much the undisclosed shareholding are friendly party to Koh family and 10% private placement definitely will go toward Koh friend. In addition, Tan & Lim, based on document disclosed, they are formerly bankers and not involved in the biz of printing. Also, Koh family cannot let go Komark since they are happily taking bulk of director remuneration RM2.8mil in FY2012.
After reading all this, have you already fall in love with Komark?
I came to know last month Lim & Tan had invited some shareholders for lunch at Federal Hotel but later postponed. Then they sent in the request for an EGM. They have the lunch invitation again on 13/7/13 (last Saturday) at the same vanue. Can anyone enlighten us on this issue? Sincere thanks.
Forgotten gem, price at RM0.58. Profitable co with NTA of RM1,52 and yearly dividend? Maypak, a loss making company with similar business jump from 0.48 to 0.80 last week.
I. PROPOSED PAR VALUE REDUCTION VIA THE CANCELLATION OF RM0.75 OF THE PAR VALUE OF EVERY EXISTING ORDINARY SHARE OF RM1.00 EACH IN THE ISSUED AND PAID-UP SHARE CAPITAL OF KOMARK PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 ("ACT") ("PROPOSED PAR VALUE REDUCTION");
II. PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 40,637,005 NEW ORDINARY SHARES OF RM0.25 EACH IN KOMARK ("KOMARK SHARE(S)") ("RIGHTS SHARE(S)") AT AN INDICATIVE ISSUE PRICE OF RM0.30 PER RIGHTS SHARE ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY TWO (2) EXISTING KOMARK SHARES HELD, TOGETHER WITH UP TO 40,637,005 FREE DETACHABLE WARRANTS IN KOMARK ("WARRANTS") ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY ONE (1) RIGHT SHARE SUBSCRIBED FOR, ON AN ENTITLEMENT DATE TO BE DETERMINED LATER AFTER THE PROPOSED PAR VALUE REDUCTION ("PROPOSED RIGHTS ISSUE WITH WARRANTS"); AND
III. PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF KOMARK ("PROPOSED AMENDMENTS")
If one make one's buy call based solely on NTA, one's going to fail miserably... 1) Do you have the financial mean to break up the Company and hence derive the value of NTA? Most of people here don't have the mean. 2) If there's no such financial mean, then the base of NTA remain in one's illusion.
Super went up from 50c to rm3. I think he wants to replicate the same thing for komark. But komark fundamentals weaker than super. Rm3 quite hard . But rm1 possible. Hehr
No lah, i dun want to spend time on tis one ..... it's uncertain, i 've some others to do. I just saw the title "Komarkcorp acquisition by Autajon - Offer price of RM0.92. No brainer buy?" and come in to ask further, if u r no willing to share, is ok. moreover u r not the author!
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....
Hglee92
108 posts
Posted by Hglee92 > 2012-06-01 14:13 | Report Abuse
komark corp got a lot of hidden assets, with high net tangible assets rm1.49 as well as comfortable earnings eps 2.68cents.proforma could be perform better due sale of lands. crossly undervalued.