@Yu_and_Mee, every biz is challenging to operate in today's mktplace environment. More so for food outlets. But as long as its food quality is good, customers will still come regardless of the distance and price. Hv u heard of ppl travelling long distances to savor delicious foods? Well, OWG is positioning itself well in Genting to take advantage of d GITP expansion. It is a captive mkt up there and, everyone needs to eat and drink while on holidays. Even though there r many F&B outlets there, each of them hv different food quality and ambience to cater for different kinds of customers' tastes, budgets and expectations. I believe OWG's strategy is thru hving many F&B franchises, it cud offer a wide variety of food choices to customers in a single location tht I hv witnessed in d Komtar's food court. My view is, I believe OWG w do pretty good in Genting.

@Investigators, since OWG went public on 18 Dec 2014, it has undertook 2 PP exercises only. The 1st exercise was mainly to finance d Komtar Revitalization Prjt and, the 2nd mainly for d Genting Expansion Prjt. Other projects I cud still remember was d acquisition of Escaperoom, expansion of amusement & recreation operations and, opening new food outlets amongst others. So yeah, OWG is indeed financing its organic growth with those PP proceeds. Really nothing so wrong abt it.

Placement shares issued on:
10 Aug 2017: 14,615,010 shares
2 Jan 2018: 9,673,489 shares

@Investigators, the following is d excerpt from the proposal paper submitted for the said PP:

"2. DETAILS OF THE PROPOSED PRIVATE PLACEMENT
2.1 Size of the placement
The Proposed Private Placement shall be up to 10% of the issued share capital of OWG.
Based on the issued share capital of OWG as at 30 June 2017 (being the latest practicable date prior to this announcement (“LPD”)) of 242,884,990 Shares, the Proposed Private Placement will entail the issuance of up to 24,288,499 Placement Shares to investors to be identified at a later stage, representing up to 10% of the total issued share capital of the Company.
The Proposed Private Placement will be undertaken in accordance with the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016 (“Act”) (previously Section 132D of the Companies Act, 1965), the approval of which had been obtained from the shareholders of the Company at its last annual general meeting (“AGM”) convened on 21 December 2016 (“General Mandate”)."

The 2nd and final tranche of PP executed on 2 Jan 2018 was approved by shareholders at d AGM way back on 21 Dec 2016. The mandate was implemented only on 7 Jul 2017. Addnl shares were placed out in 2 tranches on 10 Aug 2017 and 2 Jan 2018. Nothing new abt it. Considering all d projects undertaken and cash outflows since 2015 which were not supported by any revenue from those projects. Given such situation, any other company and not OWG alone, will do likewise.

The scenario now is very much different. This is d time to enjoy and to reap d fruits of labor for all d hard work done during d past few years as all its projects are coming to fruition one by one, beginning from now onwards. The decision is yours and you r not going to share yr profit w anyone. All the very best.

No doubt most of the F&B and amusement park transactions we see on the surface are cash basis, however I'm sure the trade debtors amount includes transactions for events by corporate clients where a credit term is normally given for collection. The disclosed credit term is 30 days. At the end of the day, we need to assess whether the risk of increased trade debtors is tolerable or not. We also need to see the trade debtors ageing analysis to establish if OWG is doing a good job in collecting the receivables amounts owed.

For cash position, I believe it's more accurate to look at the overall cash & cash equivalent utilized BEFORE deposits pledged w licensed banks and bank balance held as escrow. Cash & cash equiv. actually increased by 3.1 mil (15.4 mil vs 12.3 mil) over the last 3 mths.

@Apollo Ang, dun worry. Can still jump in now @ 3.20. Otherwise, u will...

@leslieroycarter, all yr statistics r related to days when IWCity was on its own. Now, it's a merged entity and a totally different story now.

@Apollo Ang, u r telling d whole world tht u r from an old school...

Boom time for Karex today

slowly wait lah... 1000 sellers keep running away. BEWARE...!!!

The selldown yesterday is really overdone and is an indirect way of getting d CNY angpow from OWG :-)... If u stand back a little to think, d closure of 14 Affected Outlets in First World Hotel w only start from 12 Feb 2017 which is considered a relatively quiet time immediately after d CNY celebration. In fact, tht's really a suitable time indeed to shut down to make way for RWG's on-going development. To compensate for tht, there r already 11 food outlets, 14 family attractions and 5 retail outlets in total, fully operational in booming tourist locations currently. Just ask yrself this - how bad can d closure of outlets in First World Hotel get? From a biz standpoint, I wud say minimal to none. Who knows, d above closures/openings may even derive a small positive outcome in d QR later. OWG management is really smart in making strategies to temporarily close existing outlets and, to concurrently open new ones so tht there w b minimal disruptions to its biz performance. Cheers to all !!!

@nightfly, The Star article has sent out a wrong message and is misleading its readers. Do not read news from just one (1) source. It is NOT the revenue and profit for financial year ended June 30, 2016 are affected due to the closure of Affected Outlets. What OWG informed Bursa was, the Affected Outlets has contributed 39% and 59% of the revenue and profit respectively in FY ended June 30, 2016 and, MAY hv a financial impact in the near-term.

Quote from the announcement to Bursa:
"The closure of the Affected Outlets WILL NOT have any operational impact on the other outlets of the Company and its subsidiaries (“Group”) but may have a financial impact to the Group as the Affected Outlets contributed approximately 39% and 59% to the total revenue and profit before taxation of the Group for the financial year ended 30 June 2016, respectively."

It further informed tht such financial impact is mitigated by new revenue streams generated from Sky Avenue and The TOP, Komtar. Also, the landlord (RWG) will endeavour to relocated the Affected Outlets to newer areas. So my view is tht, there is really nothing to be overly alarmed by the news.

It has been discounted by d mkt already.

@DaitoRyu, same-lah as a kid still in school and growing, where got money to give? Need to wait until when kid start working and got income, only then can give money as ang pow + dividend ;-))

@DaitoRyu, can meh with the recently share placed at 2.13? If below 2.00, I w not hesitate to gobble up more hehehe...

OIC, no worries la @cheshirecat :-). I thot u wanted to promote Dsonic here...

@backspace, I absolutely concur w yr analysis and viewpoints. Thks.

@Huat1, thks. I believe it's d share placement rather than bonus issue tht has caused d higher net assets per share numbers reported.

@cheshirecat, im wondering why u r requesting for info. abt dsonic in OWG forum? R u trying to divert fishes from OWG to dsonic? hehehe......

@Huat1, yr tabulated Profit attributable to Ord equity holders & Basic EPS per share is much higher due to bonus issue recognized in d B/S. Is it fair to say tht?

The net assets per share is marginally lower due to bonus issue recognized in d balance sheet @ 30 Sep 2016.

Lower profit mainly due to pre-op expenditures incurred for Komtar tht hv yet to match w it's operating revenue. Such temporary net profit blip is expected and has pretty much been discounted. Despite so, OWG's net profit is still able to stay in d green and thts quite commendable. With its grand opening scheduled soon on Dec 18, I'm very sure d longer term OWG investors w not be perturbed by d lower q net profit announced tis evening. For as long as d decline in net profit does not adversely affect d net assets per share, I believe we r moving along in d right direction.

Shud d acquisition goes thru, it w probably be financed partly thru issuance of shares and partly thru raising of new debt. Perhaps, Karex may offer rights issue to existing shareholders. Anyway, let's stay tune for further announcement regarding d matter.

Hahaha... let him stay @ G floor alone to wait for d lift tht will never arrive.

Thai mkt rebounded sharply on Friday after military assured investors tht security w b maintained at all cost. They oso advised investors to continue investing in Thailand. Nothing detrimental w happen in d short term as the mourning period is 1 year.

Tmrw opening w gap up???

Every time small fishes want to come in to swim & play, they w encounter high waves and tend to kena 'chiak' by seals. So, they tend to stay home lor...

For those who r so eager to sell, now is d right time to do so b4 its price comes down again.

Hahaha... :-)

I believe some ppl here r trying to trap short term and speculative investors.

It's a TRAP!!!

Some ppl just simply like to spread falsehoods & confusion to victimize others. And, those who dun do their homework and keep abreast w developments in OWG w tend to b their easy victims.

:-))

Long term investors shud b able to weather any financial storm as they r generally temporary. Karex is here to stay and w continue to grow in d years to come.

Good to hv mainly old ppl in d management team as they r highly experienced in d industry and they can manage d company very well to generate handsome profits for all shareholders.

I hv rec'd a message written by Dato Dr Amar Singh, Head of Paediatric Dept & Senior Consultant, Ipoh GH. He envisaged tht Malaysia will eventually face serious health challenges to combat the Zika epidemic tht has arrived on our shores recently due to our poor health behaviors in general. It will hit us hard if we do not do anything starting today. We hv been battling the aedes mosquitoes all along and we are still not free from it until now. With Zika looming now and will threaten us even more, the only thing we all cud do is to change our bad behaviors and to protect ourselves. To those who are sexually active, it's no longer an option NOT to wear condoms while having fun.

Perhaps, it w b announced tmrw.

@Tigerbeer, to me, anytime is a good time to buy if current price can lower my average cost.

I'm buying some more. A good QR and year end results expected.

Furthermore, it's a given fact tht no one shud expect any high dividend payout from a growing company like OWG as any profit made is much needed for biz expansion purpose.

On a bigger picture, actually there is absolutely nothing wrong with OWG's financials. Revenue has been steadily growing over the years. If you exclude all expenditures related to the Komtar project, you will see tht OWG is actually making handsome net profits. It's just tht there is a mismatch of revenues with expenditures at the moment. Bcoz of project delays, no revenue is recognized currently as yet but expenditures hv already been incurred and recognized in d accounts. As an investor, we must be far-sighted a bit and must b willing to make sacrifices currently for future gains. And, future is meant here to be just another quarter or two which is very much a foreseeable future.

As mentioned in the CIMB Research report, the project's delay is merely a timing issue. It's currently traded at a 50% discount to the F&B sector average is NOT JUSTIFIABLE!!! The rest is for you to decide.

@cpo_, that is already expected given the latest developments of the Komtar project. OWG's share price performance currently is mainly driven by the completion status of the said project. To the best of my knowledge, the indoor theme park games shud b opened around early-Oct 2016.

Ever since OWG started embarking on the Komtar project, it was relying mainly on cash generated internally to finance the project's working capital to complete it. And now, it's completion is very near. The fact tht management dun even hv to rely on the proposed share placement proceeds (it's completion timeline has been extended by Bursa recently) to fund the project goes to show tht d company is financially strong despite the lower Q4 FY2016 results. I believe the lower QR for Q4 FY2016 is expected and it's smtg investors shud not be unduly too worried abt.

@martinbartesque, the Q3 FY2016 net profit was higher than Q4 FY2016 bcoz there was additional costs incurred for more theme park attractions added subsequent to reporting of the Q3 FY2016 results. Initially, they had planned for separate opening ceremonies in July and Oct 2016. Later, they had decided to go for one Big Bang grand opening ceremony in Oct 2016 instead. That gave them an opportunity to add more theme park attractions and hence, the additional costs for Q4 FY2016. The Komtar project is almost completed now and it's revenue stream from it will start to flow in soon. So yeah, holding power rocks!!!

I can't tell if it's ppl throwing or big fishes collecting ahead of the QR announcement. Based on previous QR reported, there r many things in store for OWG in 2H2016. Completion of the Komtar project is a re-rating catalyst for OWG which has not been factored in at the moment.

OWG has not seen such high trading volume for quite some time until today. Wat is driving it? Is it bcoz mkt is expecting a not so good QR next week?

Hahaha... all short term traders were caught again yesterday and r rushing now to get back in.