Even if it was LTAT buying up the PP, and taking it Private, are you expecting them to pay a better price than the PP or current listed price????.......makes no sense.....
The PP is to raise funds to pay off suppliers and those urgent bills due soon so they can continue to operate for time being. Probably buy more time for any possible deal or investment by the rumored suitors. Normally Govt will won't let a GLC fail because that will means a bad name for GLCs causing suppliers and banks will not willing to grant longer credit or grant loan in future.
Pinetree88. I wouldn't be surprised if this PH government wash their hands. How long was this GLC given time and space to do the Right thing? But, end of the day, still screwing up not knowing how to run.
If to issue PP and raise funds to pay urgent Debts, what about moving forward? Don't forget those profits from the urgent Debts have been dispensed and now in need of funds to pay the debts....Pay the past and not moving forward??? And there is still hope??
And being a GLC means they have unlimited license to spend as they wish (look at Sapura)??? When in troubles, just whistle for bailouts?? For Goodness sake, GLC means you are dependant on Govt for Projects and Business, but you need to be standing on your own 2 feets since you are listed entity......what a foolish deduction that GLC would be saved by Govt!!!
It's really mind-boggling thinking of the RM1 billion debt. How it will be resolved intrigues me. It's a classic case to me. I also don't think the Corporate Debt Restructuring Committee (CDRC) would want to get involved in this case... even if invited
U_R_unwelcomed just shot himself in the foot again. Cannot imagine 1 Billion debts is forgivable, BUT AT SAPURA, HE FEELS 15+ BILLION DEBTS is just a piece of cake???? Such a goddamn hypocrite.............
In the AGM, no explain how the decision-making process, based on what fact the management purchase such a quantity, how the BOD accept the purchase and did CFO raise concern? All no explain!!! Made a RM600mi mistake, took the salary and resign. No need explain. No body responsible. All mum. All so call corporate responsibility, HALAL, transparency, integrity and professional talked about just shit!
@Bob... I view Debts as something Dynamic. Sapura to me, has the Capacity & Ability to pay back it's debts in FULL whereas I don't have such confidence in Pharmaniaga. No 2 debts are the same. It a joke for you to accuse me of being hypocritical for something you have No Capacity & Ability to Comprehend. Afterall you have AI... AXED!! Intelligence (AI). Still promoting PNB's total shareholding in Sapura at 0.16%? Coming from AXED!! (Capital letter) nothing surprises me. You name your company so rightly AXED Capital with Axed!! Intelligence (AI). You are fool of fakes...
Im trading pharma for the short term, so not looking so far on the debt and pn17 status, as long as they don't receive letter of demand from creditor during this short term. The PP should be sufficient for them to avoid that but now not so sure if the price will move much until they completed the PP at 34c. But that also means they need to support the price around here to get investors taking up the PP.
I think Govt can't let Pharma fail because that may affect the people access to medication. It will be serious issue and repercussions to politicians if any disruption to medication for the people and hospitals with lives at stake. So I think this is different as sapura (oil company no impact to the people) which is probably beyond saving. I think their supply chain may not be so easily replicated in short term so maybe that's why BP and some potential suitors showing interest.
What most worrying is that Pharmaniaga has booked negative net operating cash flow since 2020. Means before Vaccine default, its ordinary biz unable to generate positive cash flow. The PP will be used for the trade payables of RM722.3 million, and it is only 6% of total trade payables!
"Posted by pinetree88 > 45 minutes ago | Report Abuse
I think Govt can't let Pharma fail because that may affect the people access to medication. It will be serious issue and repercussions to politicians if any disruption to medication for the people and hospitals with lives at stake." ==============================
As if people are given good medication. Government must let this leeching company to perish. Government can take over pharmacies. No need agents.
Trust LTAT will somehow rescue pharma especially for MOH logitics concession business. Whatever shit it is why bother with things beyond our circle of influence. Just play with the trends and you can make multiple rounds of gain.
@rhktan...I am confident Pharmaniaga will not PP it's shares to investors looking for short-term gain or losses. I don't think there will be caveat attached to the PP
Pharmaniaga has just confirmed it has run out of cash & have not yet been successful with the PP @34 sen. I am waiting to see Boustead's helping hands...
Affin bank already affected. It was also noted that the management is expecting 3QFY23 to be another heavy quarter for provisions.....It is full one year the vaccine stock arrived in Pharma store in Q3 too....hmmmmmmmm
for the big loss, the former Boustead CEO is the Pharma president, like PM also a finance minister, no check and balance. Now, because a foolish decision by a person or a group of villain in a subsidiary, the whole Group in trouble.
Pharmaniaga Bhd's new seven-year concession agreement with the Ministry of Health (MOH) until mid-2030 will maintain the same scope and responsibilities as the previous agreement, which was awarded over two decades ago, for the provision of medical supplies and medicines. (TheEdge)
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....
BobAxelrod
8,255 posts
Posted by BobAxelrod > 2023-06-14 14:56 |
Post removed.Why?