RM72mil market cap sitting on RM17mil cash + RM32mil property development costs (will be converted into cash once the banks disburse according to progress billing). Imagine if the company pays this out as dividends, it will be almost RM1 per share.
Effectively, you are buying the remaining factory + landbank + business for only RM23mil or roughly RM0.35. No wonder the company is subject to a hostile takeover.
We are unable to obtain sufficient appropriate audit evidence to determine the nature and extent of relationship that may exist between the Company and its Relevant Subsidiary Companies and the Special Purpose Vehicle ("SPV") by virtue of the said transactions and the debt restructuring exercises. Consequently, we were unable to determine whether the Company had control over the SPV; and the completeness of the comparative disclosures relating to the related party transactions between the Group and the SPV.
The Ghost is back at this... good Q to Q results, Y vs Y, share cap only 56m. The Ghost is never wrong, this will go back 65cents region. Company need to raise funds to finance it's property development projects, so rights issue with free warrants is on the way. With it's cash pile above rm15m, possibility of bonus issuance as well. You need a couple of million to bring yourself into a major shareholder and ask for board seat. All for the taking.
The Ghost.
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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....
Posted by jenn > 2015-06-28 20:21 | Report Abuse
Wait tomorrow!good show!