LETTER OF AWARD TOTALLING RM35.9 MILLION TO VINTAGE TILES INDUSTRIES SDN. BHD., A SUBSIDIARY OF ML GLOBAL BERHAD (FORMERLY KNOWN AS VTI VINTAGE BERHAD) IN RELATION TO BUILDING AND INFRASTRUCTURE WORKS
Offer for show only. They will say MGO not successful. So offer higher price. That's why they buy warrant. Mother share minimum 80 cents. That is if warrants don't move up.
Substantial losses may be recorded for FY2016 when it starts disposing its manufacturing machinery and equipment later which may normally fetch 'scrap' value only? Typically the buyer or the original owner will get to buy the assets for a song.....minority shareholders to be disappointed again?....later another cash call for undertaking new business? ....sigh....
Under the agreement, MITC is selling a 75% stake in MITC Engineering Sdn Bhd for RM225mil. This would be in exchange for 200.82 million ML Global shares at 67 sen each and 135 million new irredeemable convertible preference shares of ML Global also at 67 sen each
With so many new shares and ICPS to be issued, the EPS will be substantially diluted.
Out of the construction order book of RM1.52bil with current contract value of RM1.06bil only yet to be billed, how much PAT can still be generated over the next 12 or 24 months? It will be interesting to see how the various analysts view this.
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Posted by jenn123 > 2014-02-18 10:21 | Report Abuse
hor seh liao