Legal matters... Zaid Ibrahim is showing his mark in Barakah. He is definitely adding value to Barakah. Barakah will have lots of stories to tell us at the AGM...
@Happy3933... That loss of RM269 is for a 18-months period, not 12 months. Barakah has changed its financial period. The current report is for a 3-months period... Cheers
Legal matters... Zaid Ibrahim is showing his mark in Barakah. He is definitely adding value to Barakah. Barakah will have lots of stories to tell us at the AGM. Hence Uplifting the suspension from Petronas is high on the agenda for the company to moves forward.
Finally, Silent Mary Barakah has broken her silent. Latest QR looks good. Net Loss has narrowed down quite substantially. That loss of RM269 in Q2 is for an 18-months period, not 12 months. Barakah has changed its financial period. The current Q3 report is for a 3-months period. This gives new hope.
By lifting the suspension, Barakah will move forward to a greater height:
a. Focus on bidding for more projects - Estimated tender book value of RM928 million. b. Execution of projects to sustain operations c. Orderbook of RM600 million provides earnings visibility up to 2023. d. Utilisation of pipe-lay barge KL101 - Currently on used by MCM contract, offshore of Terengganu e. Collaborate with stronger companies f. Strategic tie-up with Vallianz. g. Collaboration with Minsheng. h. To explore areas of collaboration.
@Mabel... I find the Management under the guidance of Zaid Ibrahim the very accommodating type. It's a good beginning. We can expect more good news in the coming weeks, especially from Petronas... Cheers
Morning everyone....@investortrader... hahaha, in terms of shares, yes but in terms of RM, I need Barakah to shoot up to @ 0.50 to make a million. Kikikiki.... have a nice weekend everybody... meow meow meow.
In 1963, American Express found itself on the wrong end of a very big, very bad loan to a company by the name of Allied Crude Vegetable Oil. The salad oil company faked its inventory, filling its tanks with seawater and only a modest amount of oil. Because oil is less dense than water, it would float at the top, making it appear as though the company had much more oil than it actually possessed.
Allied Crude Vegetable Oil borrowed on the basis that it had 1.8 billion pounds oil, but it only had 110 million pounds. Thus, American Express and other major banks, which took on the loan under the assumption it had ample collateral, found themselves staring down the barrel of substantial loan losses.
AmEx shares fell over 40%, as the market worried that it wouldn't survive. But Buffett was ready to buy, believing that the losses were only temporary, and that American Express's brand gave it enormous value over and beyond its accounting value.
American Express wasn't your typical corporation. It was organized as a joint stock company, which gave its owners unlimited liability for its losses. If its balance sheet were impaired, shareholders could be called on to contribute more capital. (It converted into a typical corporate structure two years after the scandal.)
In the book The Snowball: Warren Buffett and the Business of Life, author Alice Schroeder writes of the event, quoting Buffett himself:
"So every trust department in the United States panicked," recalls Buffett. "I remember the Continental Bank held over 5 percent of the company, and all of a sudden not only do they see that the trust accounts were going to have stock worth zero, but they could get assessed. The stock just poured out, of course, and the market got slightly inefficient for a short period of time."
Buffett bet big on the stock, putting 40% of his partnership's assets in American Express shares. And while he had made big bets before, this wasn't his standard fare. Previously, his large bets were concentrated in companies that could be liquidated for more than their stock-market value. This wasn't the case with AmEx, which Buffett was buying at well more than two times its book value and more than 15 times its earnings.
Up until this time, Buffett had primarily invested in companies that few would recognize, companies that would never make the front pages of a local newspaper, let alone find themselves in the middle of a national scandal. The size of his American Express investment gave Buffett a huge advantage that he never had before. Schroeder wrote that "[n]ever before had he invested like this. Never had he put to work anything approaching this much money, and so fast, in his life."
Having plunged as low as $35 per share, shares rapidly advanced to $70 per share, making Buffett and his investors millions in the course of just three years. The quick double from AmEx resulted in a return twice that of the S&P 500 over the period.
One of Buffett's most famous quips is that "only when the tide goes out do you discover who's been swimming naked."
If Buffett's investment in American Express during the salad oil scandal had turned out for the worse, Buffett might have continued on as a small-cap liquidator managing a handful of money rather than the legendary investor that he is today.
Many fear to buy co status PN 17.Some see as an oppurtunity to collect Barakah shares during temporary dips & have faith in Barakah on its futures plans .Time will tell.
@ Youarewelcome88@Mabel@Happy3933.
@ May the force be with Nik , Zaid , team & all Barakah investors !
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3249 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
Mabel
23,657 posts
Posted by Mabel > 2019-11-27 23:45 | Report Abuse
It should be out this week. Last year was released on the 29th...