KUALA LUMPUR: Property developer Yong Tai Bhd's (YTB) losses widened in the third quarter (Q3) financial year ended 31 March 2022 (FY22) as the company posted an impairment loss of RM117.9 million during the quarter, resulting in a net loss of RM121.5 million.
Year-to-date, the impairment losses have accumulated to RM198.5 million, reflecting the adverse impact of the Covid-19 pandemic on both its tourism and property development businesses.
The losses from the impairment would have been priced into the shares price , which drop from average 25cts to 6cts now. With the huge impairment, the company would have a clean balance sheet and with the support of the RCPS of RM180 Million ,the company will possibly be able to see through their project on hand. The settlement with the creditors will also assist in the cash flow of the company...
The conversion of the RCPS into shares is 9.5cts (after discount), which is higher than the existing traded price...this will provide a possible buffer support price for the consolidation exercise....something to ponder about.....
Unless otherwise stated, all capitalised terms set out herein shall have the same meanings as those set out in YTB’s announcements dated 28 October 2021, 5 November 2021, 17 November 2021, 29 November 2021, 30 November 2021, 22 December 2021, 10 January 2022, 17 January 2022, 15 April 2022 and 22 April 2022 in relation to the Issuance of RCPS.
The Board of Directors of YTB wishes to announce that the Subscriber has agreed to subscribe for 5 equal sub-tranches of Tranche 1 comprising 2,500,000 RCPS with a principal amount of RM2,500,000 on 30 May 2022. The parties to the Subscription Agreement have agreed that the targeted closing date of such RCPS issuance shall be 3 June 2022.
Yong Tai at 9cts , up 2,5cts or 38.4% .....apa u mau lagi...lols.....by the way , the corporate execise is very exciting , ONLY to those who understand it...& not those armchair bashers or .......... !!!! a hint to ALL
Yes , the consolidation may be in the offing ....but how many ikan bilis , Sifu, or Naysayers understand why & how the Consolidation is being structured that way and to value the after effect of the pricing after consolidation.......???? ....& why was the consolidation exercise being proposed & proposed that way ..????
remember 2020? that is also overbought.. until 40cents plus. This counter doesn't work on such logic. They want it up, then it will goes up; if they want it down, it will come down. remember last week when so many noises asking to sell and run away? That is because they don't want you to buy their tickets.
won't have show anymore until details announced. Previously press down for partners, friends, family to collect cheap tickets. if push too high these people will already take profit instead of waiting until the consolidation happens.
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....