We will see how the new mgt perform. Need to be wary of vultures also. I hope the new mgt and old mgt do not have controlling stake and we minority can be the deciding factor. The new mgt also do not have the industry experience and if they mess up with the tobacco company as politician usually do, there will be nothing left.
Let the old management disposal all their share first, before it can move up. Now is dead lock old management wanted to sell high , new management wanted to buy low. Have to wait for next financial result to see their performance.
Yes..below $1 can collect but only nobody selling !!. The new major shareholders shares were previously accumulated much more higher. The old major shareholders are real fool to lose a profitable company for keeping the price low and allows others to buy cheap.
Demimaju does not sell out the company , the Ex boss have more than one wife, due to distribution the first wife got less shares so they loss out but control the management, luck they loss control or else the company will go Holland
i heard the ex big boss don't speak english during agm. Too many wifes to take care until company got sapu also don't know...he he. They have also lost management control as the new majority shareholders are holding the chairman and exec director posts. Maybe they still have some middle management level people with them.
Tis company is fundamentally very strong with their recession proof biz with the tobacco company. Only tat the old mgt were sleeping on their job. Hope the new mgt will bring it up to a new higher level.
according to the announcemt, the proceed is to be used for expansion of existing biz. So it look like they are still sticking to the core biz and it's a very good biz as it is in the tobacco biz which is high margin and recession proof. Only thing is that there is no margin for errors or you will be kick out in such biz.
Rex..you can download the free chartnexus software and will understand the counter better. After the big fight, there wasn't much activities. Let's hope thr right issue stir things up and another fight would be wonderful for us. he he
whkwoon...i had been following it since the takeover tussle till now. Prior to it, it is an illiquid counter. From July last year to feb this year, the price double from a ringgit to two ringgit and thereafter drop back to a ringgit within a couple of mths after the new majority shareholders managed to wrest mgt control! So it's price is very volatile. I ever work in a tobacco co and it's one of the best biz to be in. These tobacco co. are good paymaster and allows you to earn high margin as long as your quality is good and delivery prompt. Only problem is there have been no dividend paid by tis co.but that's under the old mgt.
The sale are on cash basis, the old Directors screw out everything from company, they got good contract with tobacco company and in business for over 30 years
30 days ...no delays. The old directors can't even speak english during agm/egm. They have no desire to expand the biz and it's a big waste having them to manage it.
It's up by 50% since the new major shareholder Datuk Ricky Wong emerged 2weeks ago. His stake is sitting on 50% paper gain already. What kind of investment is better than this?
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Posted by haikeyila > 2013-09-20 20:01 | Report Abuse
last Q profit dropped 55% and 20% from corresponding Q. The only 'entitlement' they ever declared in history was a rights issue. Super buy??