Followers
0
Following
0
Blog Posts
0
Threads
482
Blogs
Threads
Portfolio
Follower
Following
2018-10-03 00:40 | Report Abuse
報導︰何燕羚
(吉隆坡28日訊)削減資本(capital reduction)是公司重組資本結構的策略之一,雖有助提高股本回酬(ROE),卻被市場形容為“賬面數字遊戲”!
市場觀察人士說,每提及上市公司削資,必聯想到許多負面因素。例如,削資是一些“問題”公司常用作註銷累積虧損賬目的方法。
“根據大馬會計準則,上市公司削資后所得的資本,可轉至未分配利潤項目,從中彌補累積虧損。”
“經過此類賬面數字遊戲,虧損公司可迅速轉虧為盈,暫時擺脫困境。”
他指出,面對公司削資,投資者要小心;過程中,大股東可能是低成本套取中、小股東資金,使后者財富大縮水。
“再來就是,趁削資后,大股東在低價位發行新股,提高對公司的控制權,市場確實有公司或大股東採用此另類‘贏利模式’,大量低價發股,迫使小股東增加投資。”
話又說回來,若公司基本面強穩,或已脫售核心業務,即無需龐大資金,就會以削資方式派發現金回饋股東,增強財務上的靈活性,及更理想的資本結構。
視需要而削
一般落實削資后,股東持股權不會變薄,所有股東的股票數量減幅都一樣,削資可為股東提高價值,股本回酬和每股盈利(EPS)都將增加。
此外,一旦出現巨大累積虧損,即使公司已重返盈利軌道,資產負債表也需要數年才扭轉虧損。
許多公司為了派發股息給股東,不惜削資讓資產負債表回返健康水平。
因此,削資對公司和股東有利與弊,小股東必須了解削資計劃背后的目的,若發現僅涉及單方利益,就要在股東特大上投下反對票。
須過多重審核為保障小股東利益,削資計劃要獲得高庭批准。
證監會為了確保企業重組計劃公平對待每一方,上市公司必須提呈完整詳細的申請報告,以換取監管單位的批准。
證監會亮綠燈后,上市公司還需得到高庭准許。
此外,公司尚需召開特別股東大會,尋求小股東同意。若超過半數小股東反對此計劃,即使獲得證監會和高庭點頭,削資計劃最后仍會告吹。
上市公司需經過多重關卡的審核,才得以展開削資工作,並非單一大股東說了就算。
削資為自救?為何大馬上市公司,會有如此多削資個案?
這是大馬股票經紀人協會(PERSAMA)會長黃峋理回應《中國報》詢問時說,反問記者的一句話。
他指出,香港和新加坡上市公司甚少削資,較偏向私有化,而馬股市則常出現削資,將破壞投資信心,外資更加會問:“這是怎么回事?為何股本上市后不但未擴大,反削減。”
他坦言,也許是監管單位管制過度嚴厲,造成愈來愈多有問題的公司,大股東為了自保和保住上市地位,唯有“動用”小股東資金,削資自救。
2018-10-03 00:32 | Report Abuse
以下是来自脸书的~闲谈股市,理财篇~
什么是消资
eg:
目前A公司上市
issue and paid up capital:rm100
par value:rm1
那代表市场的total shares 是100股
total share issue:issue and paid up capital 「divide」par value
如果你买入rm50,也就是50股,占了50%
如果消资
把par value从rm1 削资到rm0.1
total share issue:issue and paid up capital 「divide」par value
那就是代表市场的total share issue 增加至1000股
之前你是50%大股东
削资后,你只是5%的小股东
多出的900股
会用来筹钱的活动
如果当时股价跌至rm0.5
900股就可以筹到rm450
「整体来说,就是和美国印钞票没两样」
身为一位投资者,我们必须了解每个财报字眼
了解每个事情背后的发生
才能走在股市最前端
在分享任何的字眼时,丐帮小子希望用最容易,简单,运用「毫无保留」的例子
让大家了解,
希望透过这个简单的formula
大家能明白什么是削资
削资后,我们股东付出的代价是什么
削资的好处和坏处等等
共勉之
2018-10-03 00:22 | Report Abuse
最近股价从最高245过后就一直回落到最新水平。
也许知情人士已经闻风先遁了!
因为削资来抵销债务通常都是比较消极的一种作法,
也是一种粉饰财报的手法。
表面上对小股东持股的数量与质量没甚么大影响。
但肯定有利于大股东。
唯有等开市时看看市场对领导人和公司的前景有无信心了。。。
股价还是以市场作决定。
2018-01-28 16:10 | Report Abuse
Wish you dream come true
2018-01-25 22:47 | Report Abuse
Due date is today, until 11:59p.m., so that if any updated news will just be announced by tomorrow or after tomorrow....
But don't expect too much...
Possibility is two large share holders rejected the purchase price from buyer...
2018-01-24 14:01 | Report Abuse
Not CNQC don't want to buy, is big shareholders don't want to sell with low price
2018-01-12 23:19 | Report Abuse
Bruce, i like your comments...
Very like...
Hahaha
2018-01-07 20:33 | Report Abuse
Hi Bruce, long time no see...
No matter supporters or opponents, hope everyone could earn and learn from share market...
2018-01-06 23:56 | Report Abuse
If Bought already, just waiting for durian jatuh.
You will get what you want...
In soonest
2017-07-01 21:55 | Report Abuse
其实马来西亚是有借票卖空的,只是限于特定股如AASIA等等,而Vivocom也是其中一个可以借票卖空的公司之一。
2017-01-20 13:58 | Report Abuse
Super Human = Goreng Kaki
2016-12-23 23:45 | Report Abuse
Depend on next Tuesday closing price, right?
2016-12-22 18:46 | Report Abuse
Notice of Resale/Cancellation of Treasury Shares - Immediate Announcement
MY E.G. SERVICES BERHAD
2016-12-16 12:05 | Report Abuse
Hari ni mau sembahyang dulu...
2016-12-15 14:42 | Report Abuse
must stand on 0.180 or above at least 3 days, if not... anythings is useless
2016-12-10 12:45 | Report Abuse
Could somebody help me;
is call warrant will get any effected during bonus issuing...?
2016-12-09 21:16 | Report Abuse
Hahaha, that's y he want to fly lor...
2016-12-09 18:04 | Report Abuse
We refer to the announcements dated 9 August 2016, 12 August 2016, 6 September 2016, 13 September 2016 and 20 September 2016 in relation to the Proposed Private Placement ("Announcements").
All abbreviations and definitions used herein shall have the same meaning as the words and expressions defined in the Announcements, except where the context otherwise requires or where otherwise defined herein.
On behalf of Hibiscus Petroleum, Kenanga IB is pleased to announce that the Company has on 9 December 2016 fixed the issue price of the final tranche Placement Shares ("Final Tranche Placement Shares") at RM0.2900 per Placement Share.
The issue price of the Final Tranche Placement Shares of RM0.2900 represents a discount of approximately 4.8% from the five (5)-day VWAMP of Hibiscus Petroleum Shares up to and including 8 December 2016, being the market day immediately prior to the price fixing date, of RM0.3047 per Hibiscus Petroleum Share.
This announcement is dated 9 December 2016.
2016-12-08 21:51 | Report Abuse
Bull is running now...
2016-12-08 11:11 | Report Abuse
Yup, now just good for Index Constituent stocks...
2016-12-08 00:32 | Report Abuse
Thursday is a magic day...
2016-12-07 13:06 | Report Abuse
Long weekend is coming...
Happy holidays to all..
2016-12-07 09:30 | Report Abuse
I think is tech rebound.
Still waiting for trend reversing signal...
2016-12-06 21:39 | Report Abuse
Ready to hold 3 years or cut loss faster....
2016-12-03 00:04 | Report Abuse
Come back to the report, no bad ma....
Just give some times to digest this incident.
Sun will rising after dawn...
2016-12-02 23:59 | Report Abuse
(吉隆坡2日訊)據悉證券監督委員會和投資銀行已針對VIVOCOM控股(VIVOCOM,0069,創業板科技)投資銀行分析報告提前公布,預測與實際表現有高相似度一事展開調查。
該股今日轉跌,窄幅遊走于16.5仙至17仙之間,閉市時,報16仙,跌1仙,交投量822萬2000股。
《星報》引述消息人士指出:“據了解有關分析師已被解除職務。”
有部落格在30日熱烈討論,指VIVOCOM控股還未公布業績,就有券商發布分析報告。這份報告撰寫日期為11月28日,該公司是在29日于馬證交所公布業績。
目前,共有3家證券商追蹤VIVOCOM控股,分別為聯昌證券投資研究、MIDF證券研究及Mercury證券。
預測與實際額相近難
雖然有關報告已從該投資銀行網站撤除,但已有部落格發現並商討大馬的企業監管問題。
消息指出,分析師在公布企業盈利更新報告有一定自主權。在財報季節,分析師有可能無意間與其他報告混在一起,並無意提前公布報告。
“但這不是藉口,顯然已違反了政策和程序。”
此外,分析師的部分預測數字與實際數額相近。消息人士說:“分析師要自行估計數字無不可能,但極度困難。”
例如,VIVOCOM控股營業額取得突破,有關報告準確預測該公司3項不同領域營業額有所突破。報告預測建築、電訊和鋁業務,將分別貢獻營業額62%、24%和15%;而實際貢獻比例分別為60%、24.42%和15.69%。
另外,該行估計該公司截至9月底有800萬令吉現金,實際數額為770萬令吉。
消息人士說:“任何分析師要估出如此相近數據十分困難,現金流預測也很難。”
2016-12-02 12:24 | Report Abuse
Quite low volume...
2016-12-01 22:15 | Report Abuse
Ya, 0.160 is nearest supporting line, if broke...
Then only wait the very good news to announce to bring it up!
2016-12-01 21:58 | Report Abuse
Guys, if look at the chart, is it look like descend triangle type?
2016-12-01 21:39 | Report Abuse
Darth, I feel you are facing Psychological Stressing...
Hope you could calm down and reconsider to hold or release on this counter.
I really worry about you...
2016-12-01 17:15 | Report Abuse
@ngch
Agreed to your points...
2016-11-30 21:34 | Report Abuse
OPEC agree the deduction of production
2016-11-29 20:18 | Report Abuse
No one is wrong or right, just depending of own decision...
2016-11-29 20:18 | Report Abuse
Aiya, very simple...
For short term players, you may consider to sell out if you feel that this latest QR is not satisfying ur expected.
For long term Investors, just hold tight tight for rocket launching in future...
2016-11-29 17:15 | Report Abuse
@Papaya, really different with CIMB "Report"... Hahaha
2016-11-29 17:12 | Report Abuse
Now just waiting for more announcements of new projects...
Stock: [KEYASIC]: KEY ASIC BHD
2018-10-05 18:44 | Report Abuse
Khazanah unloading some shares last two days