Mr Coldrisks, I agree with you, we have to go through the whole exercise of regularisation to maximise the profit, Shapadu will not let LFE die. Right?
I just came across with this counter 3 months ago & made a thorough study to find opportunity on this counter. Well, is good to quit from PN17, best wishes to them. I hope they are able to sail smoothly from now. However, can't be too optimistic. With quitting of PN17, more debtors will be rushing to get them to pay. The payable amount is relatively high. The so called "making money" in the past few quarters were just couple of 10 thousand out of above RM5 million revenue. Common sense tell us that is accounting gimmick to cosmetic the presentation to public.
Human ( employee ) is the most important asset of a contractor company. Good project record will remain nothing without employee. I see, basically Shapadu is buying an empty shell contractor company.
Yes, I would also hold on to this counter, today is T+3, let see tomorrow's price. Shapadu said they are going to pump in more projects after the regularisation plan, which takes about two months. Holding power > two months.
this company was my subcontractor before. i see them falling down with great debt mainly due to its' non-engineering activities. the platform has been misused. major loss of credibility.
There are only 2 main reasons why Shapadu buy this counter shares. (1) to back door list its property arm. (2) to acquire an M&E arm to do their M&E works. Therefore, it is not this counter is good that make them acquire, but is more on Shapadu's agenda. The M&E market is so bad now, including the past many years. Just look at the few main M&E players in the market like YFG (formerly PJI) & Bintai Kinden, none of them are in good shape. I mean, I have no relationship with this counter in the past & present, but is just my finding after my detailed study. I hope I give investors a clear & precise info for their risk taking. Anyway, I really hope this counter prospers. In fact, all counters prosper. XD!
Coldrisks, what expectation do you have in term of profit for this company after it is able to turn around? don't tell me the company can't even net at least 1 million profit.
On 15.08.2014, LFE, still under PN17, announced acquisition of 49% of Lynex Construction Sdn Bhd, why??? On 16.12.2014, it was awarded 350 ml worth of project, why? May be Mr bonescythe can enlighten us, something brewing!
Q3 on 26.06.2015, regularisation another month, be patient, why sell? Buy 21 sen, one month later sells 30 sen, 30% interest rate per month, 360% p.a., better than along.
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Marl Boro Man
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Posted by Marl Boro Man > 2015-05-11 12:32 | Report Abuse
Bursa Securities’ approval for its regularisation plan will lift LFE out of its Practice Note 17 (PN17) status<--- nice.. hehe