Greatech listing date June 13 After this date, MI will fly and fly, and no more cheap at today's price 1.88 Just like Teo Seng and Layhong History will repeat itself Buy and collect while still cheap, Lets huat together
The coming Q1FY19 earnings should be very poor. The management has hinted in 2018 annual report that the sales of semiconductor equipment will reach its low point in Q1FY19 due to cyclical factor and on-going trade war has caused their customers to on-hold their capex plan.
RM2,861,028. 86 has been utilised to buy back 1.603 million shares. However, the maximum the company could use for share back back is capped by its retained earning of rm3,568,152. Balance of another rm 700,000.
Source :extracted from the announcement of renewal of Share Back Back.... "2.2 Maximum amount of funds to be allocated and source of funds Pursuant to Paragraph 12.10(1) of the Listing Requirements, the listed issuer must ensure that the Proposed Share Buy-Back Renewal is made wholly out of the retained profits of the Company. Based on the latest audited financial statements of the Company for the financial year ended 31 December 2018, the accumulated retained profits of the Company was RM3,568,152. The Company shall ensure that the maximum funds to be utilised for the Proposed Share Buy- Back Renewal shall not exceed the aggregate of the retained profits of the Company in accordance with Paragraph 12.10(2) of the Listing Requirements.
"Prospects for the Financial Year Ending 31 December 2019 As the risk of a full‐blown trade war has materially increased, the outlook for the global economy is clouded. Therefore, we foresee the sluggish market conditions will be prolonged and the entire semiconductor industry may experience free fall as the telecommunication, automotive and 5G infrastructure do not see strong momentum up to May 2019. The uncertainty of investment direction and timing of capex spending from our key customers are expected to continue and may adversely impact our Group’s top and bottom‐line as compared to first half of year 2018. We will endeavour to improve our performance in second half of year 2019, especially from new customers and for our new products. In summary, 2019 is seen to be a challenging year for the semiconductor industry which will not be better than 2018. Mi Technovation is building efforts to widen our customer base and sector exposure beyond just the semiconductor industry. We are looking forward to contributionsfrom Mi Autobotics which serves a wider industry range outside the semiconductor industry. We will continue to focus on technology development and product innovation, along with extensive market expansion activities to build stronger customer relationships to grow our business"
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....
sooaria
804 posts
Posted by sooaria > 2019-03-25 08:02 | Report Abuse
time to pick up and accumulate