give some face read the annual report a while because this counter gave me some handsome profits previously
Amidst the uncertain and challenging local and global economic environment, COMCORP delivered an improved but not satisfactory financial result for the financial year ended 31 January 2018 due to the “one time loss” on the disposal of the wholly-owned subsidiary of the Company, BCM Electronics Corporation Sdn Bhd.
The Group’s impaired financial performance was attributed largely to the disposal of our Manufacturing Segment coupled with the reduced earnings from our System Integration and Maintenance Services segment. However, we look forward to our green energy segment where our biogas plant situated at Kuang, Rawang have passed the Acceptance Test set by Sustainable Energy Development Authority, Malaysia as per the Information Result of Acceptance Test & Performance Assessment (Biogas) issued on 8 May 2018
Further to our announcements dated 17 May 2018, 30 August 2017, 9 May 2017, 31 October 2016, 4 July 2016, 30 June 2016, 6 January 2016, 22 July 2015, 17 June 2015 and 12 June 2015 in relation to the REPPA with TNB, the Board of Directors of Comcorp wishes to announce that its subsidiary, Comintel Green Technologies Sdn Bhd (“CGT”) have received the Feed-in-Tariff confirmation letter, yesterday, 18 June 2018 from Sustainable Energy Development Authority Malaysia (“SEDA Malaysia”) that the actual Feed-in-Tariff Commencement Date (“FiTCD”) was on 18 April 2018 instead of 31 July 2017. As such, the yield duration of seventeen (17) years is revised to begin from 18 April 2018 till 17 April 2034 with a net export capacity of 2.0000 mega watts per hour, to TNB..
With commencement of Feed-in-Tariff (“FiT”), CGT will contribute to the revenue of the Group for the financial year ending 31 January 2019.
The Group recorded a revenue of RM0.8 million for the current financial quarter under review, a decrease of 99.1% or RM86.6 million as compared to the corresponding quarter last year. Loss after tax was RM2.4 million for the current financial quarter under review whereas the corresponding quarter last year recorded a profit after tax of RM2.4 million.
Yes, the news is comcorp is negotiating something about waste recovery business. But current minister is still reluctant on give permission because she doubt it and the current sentiment about pollution. So company maybe offering to do demonstration for proof of concept. Keep in mind government keep refusing a lot of waste permit from coming into country so it means only local waste maybe able to process. So this counter is still at best a speculator best friend. In any case refer to company pn17 business proposal for business change of direction and turnaround plan.
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....