CHEC - China Harbour Engineering Company Ltd (CHEC) is an engineering contractor and a subsidiary of China Communications Construction Company (CCCC). ECRL Contractor.
"Meanwhile, Industronics is tasked with engaging with landowners to secure the land for the development of the duty-free city, including negotiations pertaining to pricing, terms and conditions.
CHEC, on the other hand, will offer consultation services for the design of the duty-free city and undertake construction. CHEC will also discuss potential investment in the project, which may involve contributing a portion of the construction costs associated with the duty-free city."
Latest announcement - OLYMPEX SDN BHD OSB has been appointed as the PMC for only 2 components which is for hotel and golf course. The Gross Development Value (GDV) for hotel is estimated at RM388 million, covering a total of 250 hotel rooms. However, GDV is not applicable for the Golf Course as the property is not intended for sale.
The Group expects performance for the financial year ending 30 June 2024 to be satisfactory in view of improved sales performance in its trading of watches business. ----------- This statement by the company will be tested next week through its incoming QR3 2024. Hope for the best...
Base on my BRIEF study on the QR3 2024 (The latesr QR) of Itronic:
(Note: A comparative figures from QR2 2024 included)
A: Sitting on negative reserve / accumulated loss widend to RM 8,046,278.
B: Not a cash rich company.
C. Total assets > Total liabilities, Total current assets > Total current liabilities, and has a small non-current liabilities only @ RM 1,089,007 – Means still has a low indebtedness risk.
D. Revenue up tremendously from the last quarter and the gross loss and net loss were decreased.
THE FINDINGS:
1. NTA 5 sen _ , QR2 2024 @ 5 sen. 2. NOSH 707.59 mil. _ , QR2 2024 @ 707.59 mil.
For the current quarter and year-to-date period ended 31 March 2024, the Group reported revenue of RM16.88 million and RM54.06 million respectively. Among these RM54.06 million, 99.31% was generated by the Hong Kong subsidiary, which primarily engages in the sales of watches. Malaysia operation which focusing on electronics & system integration operation, contributed RM0.12 million for the current quarter and RM0.37 million for year-to-date ended 31 March 2024.
For the current quarter and year-to-date period ended 31 March 2024, the Group incurred a loss before tax of RM2.16 million and RM5.00 million, respectively. The higher losses for the period ended 31 March 2024 primarily due to increased operating expenses resulting from accounting adjustment, particularly the recognition of an unrealised loss of RM2.13 million on outstanding debts owed to creditors. In addition, finance cost amounting to RM0.97 million mainly from third parties borrowing, have further increased overall loss impact on the Group's financial performance.
Note 2:
The Group experienced a significant increase in revenue, rising from from RM6.96 million to RM16.88 million, reflecting a growth of RM9.92 million or 142%. This growth was primarily attributed to improved sales from watch operation. The Group recorded a slightly higher loss before tax of RM2.16 million compared to RM2.11 million in the preceding quarter mainly due to a decrease in profit contribution from associate, which amounted to RM0.01 million for the current quarter as compared to RM0.09 million in preceding quarter.
Note 3: Prospects
The Group anticipates that its performance for the financial year ending 30 June 2024 will be satisfactory in view of the improved sales performance in the watches trading segment. The Group will continue to focus on improving its e-commerce platform to deliver better user experience and increase customer satisfaction.
The Group intends to penetrate into new markets by establishing Halal Food & Beverage restaurants and Halal Convenience Stores in Hong Kong. Addtionally, the Group has entered into a Project Management Contract to serve as the Project Management Company for the proposed development of hotel and golf course in Pulau Langkawi. The Board believes that these business will generate positive cash flow for the Group and contribute to enhancing shareholders' value.
Anyways... I think Bluemount Investment Fund (which ceased to be substantial shareholder on 10 Jun 2024) could be the culprit of yesterday's sell off... As per my observation, the said investor could still has around 10 mil shares on the date of ceasing announcement.
ANALYSIS OF SHAREHOLDINGS as at 29 September 2023 1. MAYBANK SECURITIES NOMINEES (ASING) SDN BHD EXEMPT AN FOR MAYBANK SECURITIES PTE LTD (A/C 648849)- For Bluemount Investment Fund 211,658,700 29.913% 2. AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. PLEDGED SECURITIES ACCOUNT FOR CHU BOON TIONG (Executive Director) 29,078,160 4.109% 3. YEO HONG CHYE 15,522,800 2.194%
ANALYSIS OF WARRANT A HOLDINGS as at 29 September 2023 1. MAYBANK SECURITIES NOMINEES (ASING) SDN BHD EXEMPT AN FOR MAYBANK SECURITIES PTE LTD (A/C 648849) - For Bluemount Investment Fund 84,375,000 41.658% 2. AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. PLEDGED SECURITIES ACCOUNT FOR CHU BOON TIONG (Executive Director) 25,626,000 12.652% 3. TYE LIM HUAT 7,500,075 3.703%
Bluemount Investment Fund ceased to be substantial shareholders (on 13.6.2024) and Executive Director Chu Boon Tiong on 20.6.2024 trimmed his shareholding for just only @8,045,760 units of share or 1.137% of shareholding.
52 Weeks Range (0.035 - 0.09). Current price is at all time low already, sea bed. Second QR 30 June will be announced end of August. If slight improvement, definitely there will be some movement (up) of the share price. So nothing much to discuss until the date
DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD
DATUK CHU BOON TIONG Executive Director No of Securities Held 1,926,360 ------------ Towards incoming QR4 2024 @ the end of August.....
This director want to acquire or want to sell his shares????? He has just a few shares left, is it possible for him to SELL all his shareholding??? By the way, he is an EXECUTIVE DIRECTOR of this company...
Already don't know what to expect.... Hope for the best... TAYOR
@one_trader... ---- SC turut memberi amaran kepada pengendali webinar, seminar, media sosial dalam talian, dan bilik sembang aplikasi pesanan yang lain agar berhenti menjalankan aktiviti nasihat pelaburan tanpa lesen. SC memantau rapi perkara ini dan, sekiranya wajar, akan mengambil tindakan terhadap mereka yang melanggar undang-undang sekuriti.
Orang ramai juga diminta agar melaporkan kepada SC sekiranya mereka telah dihubungi oleh individu tidak berlesen yang menawarkan nasihat pelaburan modal di Aduan@seccom.com.my atau hubungi talian + 603-6204 8999.
Section 205 of CMSA – Manipulation of Price of Derivatives and Cornering No person shall, directly or indirectly manipulate or attempt to manipulate the price of derivatives that may be dealt in on a derivatives market, or of any underlying instrument which is the subject of such derivatives or corner, or attempt to corner, any underlying instrument which is the subject of a derivative.
Illustration 10 - Scalping The person trading is also responsible for giving buy or sell recommendations, e.g. purchases a security before recommending the security, and then sells the security at a profit upon the rise in the market price following the recommendation.
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Posted by Whiteevoque > 2024-02-20 17:03 | Report Abuse
Once break 9sen will test 10-12 and then 15-16sen. New business injections will spur more growth for the company.