Another upset Q2 18 released on 30/8/18, Vivocom investors curse around being cheated by the Management and

MIDF research (initial target around 75 sen and revised to 40 sen in 2018). However the share price drops from

highest around 0.164 (adjusted after OR on 30/7/18) to 0.02, which is 720% drop from high.

                                    (People say "No Eyes to See").

A few questions raised as below:

1)Is the management really BAD?

2)Is the company going to BANKRUPT?

If it is so, why the company not sell to CNQC International Holdings Ltd (If not wrong, the CNQC gave extention of 

another 1 month to let the Vivocom management to consider). Anyway, whatever is, already become history.

Let us look at the latest quarterly report.

A)Income Statement

The summarization as below:

Really "No Eyes to see"

B)Balance Sheet

From the above table, the Finance/Account Department & the Boss is "sleeping", amount due fr customer, increases

to 64mil or 16.5%. Can we say the company is hopeless?Let us look at the past history as below.

C)Past History

i)Quarterly Performance

ii)Technical Chart

                                                              Technical Chart 1

                                                              Technical Chart 2

Don't misunderstanding that I want to show you the trend, just want to show the past history with Offer Right Issue.

The summarization as below:

From the above table, the immediate quarter after OR issue on 11/6/15 stil loss, however the share price rocket up

after next few Quarters report. Based on reports, the increases revenue was derived from the progress billings of

several on-going construction projects.

Will the history repeated, I'm not GOD and can't answer you, only the Vivocom Boss know well. 

Anyway, based on the latest Quarterly report, the group is running contract worth RM863.5mil of which RM688.8 mil 

is yet to be billed.

Let us calculate based on RM863.5mil and the summarization as below:

Assume the company to bill RM863.5mil within next few quarters

1)Assume 10% net profit (Based on average, is around 15%)

2)Assume the revenue is evenly distributed to 4 quarters

the possibility of the quarterly performance as below

Based on the above table, the "predicted" perfromance to be so called fanstatic again. The trailing 12 months 

Earning per share is 1.52 sen or with PE=10x, the share price to be worth RM0.15, which is 650% increases

from RM0.02. Wow, somebody is really know how to play the price up and down with the Earning.

Remarks

The above ONLY for knowledge sharing.