Steven Yong

没有风险？the using facbind to aupport kbunai shares, so is this risk?

2014-08-26 07:47

JT Yeo

how did they get so much cash suddenly?

2014-08-26 08:36

speakup

JT, they sold their steel biz. Now left mainly mattress biz.

2014-08-26 09:10

speakup

They cash pile was like that for over a year already. Many bought expecting a special dividend, but only to see the cash used to support their bleeding associate company Karambunai.

2014-08-26 09:11

speakup

Cash rich company, but meaningless unless they distribute some of the cash to shareholders or use it to invest in new biz.
Using the cash to support bleeding Karambunai is not putting the cash in good use.

2014-08-26 09:13

kaonryou

They have never used cash to support Karambunai directly. Although the 6% stake was acquired as part of debt settlement by Karambunai in OCT 2013, the debt was a result of Karambunai acquiring FACBIND's property-developer subsidiary back in OCT 2008.

2014-08-26 09:52

E-THG

as a comman sense, normal businessman will not keep money in a bank forever(inflation), the worry will be they going to share it((dividend), used it( in good investment) or borrow it( to losing association/sister company)... lets wait and see

2014-08-26 11:07

Steven Yong

most likely they will use to buy more KBunai share, or lend to KBnai, it is undervalued for a reason.

2014-08-26 11:50

JT Yeo

yea would make sense if they sell their steel business and invest in some business that can generate higher ROE, or the next best decision is return as dividend to shareholders.

2014-08-26 12:18

Yong Chian Haw

FACB is a substantial shareholder of Kbunai, if realy FACB is using the cash pile to bailout Kbunai, how come we do not see Kbunai any changes of shareholding? The debt settlement with Kbunai share is actually a good deal to FACB, as Kbunai is obviously not able to pay back the debt, do you want to treat it as bad debt? Or get something back which you can at least cash it on the market?

To Steven and speakup, if you have any evidence that FACB is lending money or supporting Kbunai with the company cash, show it to us but not keep on telling something based on your guessing only.

2014-08-26 12:39

omg123

i agreed with yong chian haw the debt settlement with kbunai is fair.

2014-08-26 12:56

kwah

This is the counter that makes yr investment grows. You needless to hv sleepless night when market is bad. Cash is more the than market price.

2014-08-26 13:01

Steven Yong

Fair? It is a compliance issue man. If I have company, 1 is my own another is listed, I keep on use money from listed to lend to my own company and don't want pay back anything, at the end, I said ok. Pay your debts with maybe only 5% of my own small company. You get nothing out of it ok! There are much more counters similar to invest, why risk your money with this?? ILB,PMCORP all are better.

2014-08-26 13:32

Steven Yong

And last year General Meeting, the FACBIND major shareholders kena goreng by minority, and they told minority, don't like can sell, dun give a damn. Hello, with this kind of lansi type management, you think you minority can get anything out of them? If people said VT crook, this company is SHIT, nothing but shit.

2014-08-26 13:34

Steven Yong

VT also know how to take care about shareholders, give premium when privatise. This company? I only want to PUI

2014-08-26 13:35

Bentoji25

Those cash... nice to see but cannot touch, like this no use... Value trap... Don't know when only release the value... incur opportunity cost for the capital invested...

2014-08-26 13:42

stockraider

Raider independent view on facb is that this company has corporate governance problem.
That's why the nta Rm 2.60 & cash equivalent is more than Rm 1.70 per share compare to share price Rm 1.30 loh.....!!
But can u profit for this scenario ? The answer is yes....!!

Buy only it is dirt cheap loh.....!!

2014-08-26 14:07

E-THG

who know more about the shareholder power of control in FACBIND? Dan Sri CLK only owned 30%, any unreason action possible stop by other 70%?

2014-08-26 15:05

Yong Chian Haw

well this make the AGM very important to attend, we shall find out what is the company plan on this cash pile. If the company is not able to give me a satisfy answer I will sell immediately without any hesitation. But I had collected FACB in earlier stage which make this a gaining counter in my portfolio, will see how far it can go with this healthy balance sheet.

2014-08-27 11:33