Exxo

Exxo | Joined since 2016-01-16

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2016-01-16 04:36 | Report Abuse

This company has reported fairly stable profit since 2011.

2011 : 10.5sen
2012 : 8.9sen
2013 : 8.8sen
2014 : 11.7sen
3Quaters of 2015 : 5.10 sen

Progressive repayment of Redeemable Convertible Secured Loan Stock (RCSLS) which amounting to 15,716,000 has since pared it down to an outstanding of 4,000,000

2013 : 3,716,000
2014 : 5,000,000
2015 : 4,000,000 (Q2: 2,000,000 & Q3: 2,000,000)
Total repayment : 12,716,000

The significant reducing outstanding of RCSLS showed the continued profitability. Interest saved from RCSLS will translate into higher earning. If another 2,000,000 is used to repay the RCSLS during Q4, moving foward FY16 will see an improved financial position.

Increasing shareholding through share acquisition by the largest shareholder.
Shareholding as at 24/6/2015 : 29,143,198
Shareholding as at 31/12/2014 : 27,992,998

Weakening of Ringgit against Singapore Dollar by 5% would have increased 138000 in net profit.

Defferred tax assests as at 30/9/2015 is 2,697,000. Further recognition of this will based on financial profitability.