According to the DOLOMITE Sept qtr report, the jump in profit is due to forex gain of RM12 mil current qtr (3 qtrs: RM16.6 mil). NOt sure how ICON got the EBIT figures, but according to the seg result, Steam/Power segment result for 9 mths cum = loss RM1.5 mil whereas 6 mths total is profit of RM3.8 mil, meaning Sept qtr the steam/power segment has registered a loss of RM5.3 mil???
The balance sheet show borrowings of RM340 mil but interest paid in cashflow for 9 mths <RM5 mil? I suspect the interest cost is capitalised to the project, and once it commence op, the interest cost will be flushed out to the p&L? I think this counter need more study...
if you are the director of a company and u owe 340m wouldn't it be easier to do a restructuring like capital reduction than to actually pay the debtors by whatever cash you have? one thing for sure these fellas travel first class under company expenses wherever the go. minority shareholders' interests are far from their mind.
EBIT means earnings before interest and tax. For a big capex project and with 340 mil borrowings, wouldnt the interest be alot? And for shareholders, we would want to know waht is the net net gain because that is what goes into our pocket and drive the share price.
Looks like they have some forward contracts for their expected revenues from the power n energy biz in China. These forex gain could be their mark to market gain when they renewed / extended the forward contracts.
Insufficient of detail on how there Dolo will do d repayment, profit from biz operation. Mudajaya and Mfcb has more details to digest. Anyway, good highlight from Icon888
Wah...........another midas touch write up by Mr. Tilapia Icon8888 神童!
good write up.. I was not around these time I guess I missed out a lot of ur informative articles. Next time I must subscribe and U drop to my mail box.. I am wiling to pay. ........
Posted by Ooi Teik Bee > Nov 25, 2016 10:32 PM | Report Abuse
Calvin can share his stocks picked to everyone as a reference. We can select them and invest if we feel confident.
I do not like Calvin attacked many writers and recommended his stocks to override the writers. If he is good, I appreciate his sharing.
Most of the times, I check his stock selections, most of them are lousy stocks in term of fundamental. In term of TA, they are down trending. I just keep quiet because I do not like to attack any writer in I3.
Most of his actions are very irritating and he does not show any respect for others.
Hope he can improve after reading this posting. It is not an attack, I say it out sincerely from the bottom of my heart.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Probability
14,490 posts
Posted by Probability > 2015-12-10 14:25 | Report Abuse
People everyday working 12 hrs also cannot identify such gem..
How come this Icon keep coming ..with such jewels?
and keep coming..