Posted by Alex > 2017-06-07 07:40 | Report Abuse

but loss making company oh, i scare

Posted by Alex > 2017-06-07 07:46 | Report Abuse

but leh, i notice after kena going concern, the share price barely drop. no effect?

Posted by Alex > 2017-06-07 07:51 | Report Abuse

The ability of the Group
and of the Company to continue as a going concern is dependent on the timely and
successful re-commissioning of the two power plants, the recovery of the amount
due from holding company, Zil Enterprise Sdn Bhd (“ZESB”) and the timely
completion of the planned disposal of lands of the Company.

so they plan to sell land d.

Posted by Alex > 2017-06-07 07:57 | Report Abuse

extracted

(b) The Group has already started the process of addressing the key audit matters that relates to
the material uncertainty related to going concern, as follows:
(i) The power plants will recommence its operations after the completion of the minor
rectification works and also approval for the recommencement of the operations from the
relevant parties, which is expected to be completed by end of June 2017; and
(ii) Barring any unforeseen circumstances, the recoverability of amount due from ZESB is
targeted to materialise by end of the year. This exercise is dependent on the completion of
the planned disposal of lands and subsidiary of ZESB, whereby ZESB had assigned its rights
to the net proceeds from the said disposal as settlement of the amount owing to the
Group.
(c) With the realisation of the above, the Group’s cash flow position will improve and address the
going concern issue.


http://www.bursamalaysia.com/market/listed-companies/company-announcements/5447581

macam yes.....so this deal will rocket up or not depending on whether the land can be sold at a reasonable price.

but you know business la. the more u rush people won't give you good price.

so eden is deal of faith.

p/s: already increase 10 sen d. must be bone gor come sapu =)

Posted by r°Moi > 2017-06-07 08:03 | Report Abuse

.


Similarly... lousy... presently... play psychology... is PUNCAK

.


.

Posted by Wealth_seeker > 2017-06-07 08:07 | Report Abuse

Bone's analysis makes sense, assumption taken if the company is able to sell its mentioned land at psf rm 12, that would be whooping rm 0.64 cash per share.

However, would it be possible that there is no buyer of the land and the company keeps bleeding cash like no tomorrow? Company dies before able to sell off the land? Worse still, financing more from the bank based on the land's current value?

As the latest financial report, it posted borrowing of rm 103mil(rm 0.33/share), while cash at hand merely rm 3mil(rm 0.01/share). If one can borrow 70% of the land value from the bank, 70% of 237mil is 166mil, there is still having much more borrowing capacity.

Will the company borrow more money to support its business, or will the company sell of the land, pays off its debts? If it sell off the land, how much will investors get?

Assumption:
Land sold value (rm 12 psf) = RM 237 mil = RM 0.64/share
Debts = RM 103 mil = RM 0.33/share
Excess cash after paying debts = 0.64 - 0.33 + 0.01 = RM 0.32/share

As you can see, if the company opts to sell off the land at the assumed price, its excess cash would be RM 0.32 per share, 23% higher than its current share price of 0.26.

From the above announcements, seems like the deal will be successful sooner or later. Shareholders of it, sit back, relax, take a sip of wine, enjoy the rides. Alex, enjoy your new car, haha~

Posted by Alex > 2017-06-07 08:38 | Report Abuse

@wealth haha....good insight. never thought about borrowing also.

Posted by Alex > 2017-06-07 08:39 | Report Abuse

bobian lo, borrower must service their debt. sell house sell car sell land.

Posted by stockmanmy > 2017-06-07 08:45 | Report Abuse

if you suck at investing, keep reinventing yourself...until you succeed.
I also think FA, TA alone not enough, you need the X factor both in yourself and in the chosen stocks.

Posted by CharlesT > 2017-06-07 08:55 | Report Abuse

X factor applied when buying 60M+ Xinquan?

Posted by VenFx > 2017-06-07 09:01 | Report Abuse

神者 Bone gor.

Posted by paperplane2016 > 2017-06-07 09:01 | Report Abuse

bonegor the best lah

Posted by stockmanmy > 2017-06-07 09:01 | Report Abuse

In the case of XingQuan, his X factor failed him.
The crocodile from XingQuan is from a different culture, experience and expectation


CharlesT > Jun 7, 2017 08:55 AM | Report Abuse

X factor applied when buying 60M+ Xinquan?

Posted by Alex > 2017-06-07 09:07 | Report Abuse

ok naik kapal liao =)

Posted by CharlesT > 2017-06-07 09:09 | Report Abuse

Posted by stockmanmy > Jun 7, 2017 09:01 AM | Report Abuse

In the case of XingQuan, his X factor failed him.
The crocodile from XingQuan is from a different culture, experience and expectation


CharlesT > Jun 7, 2017 08:55 AM | Report Abuse

X factor applied when buying 60M+ Xinquan?

So better for Oldman to stay in Bursa to bully those small fish n water fish....

Posted by CharlesT > 2017-06-07 09:11 | Report Abuse

It's better to stay as Jaguh Kampung in Bursa...safer...somemore can play God everyday here

Posted by Alex > 2017-06-07 09:21 | Report Abuse

EDEN HUAT AH!!!!

Posted by Alex > 2017-06-07 09:22 | Report Abuse

i start to like bone gor liao. today buy today huat

Posted by Mini Bull > 2017-06-07 10:29 | Report Abuse

trapped again

Posted by Alex > 2017-06-07 10:30 | Report Abuse

haha, half day show

Posted by aseng > 2017-06-07 10:34 | Report Abuse

based on bone gor logic,
i can see very soon KUB will double
Bone got, right or not right ?

Posted by Mini Bull > 2017-06-07 10:38 | Report Abuse

share market cannot use logic, it's use goreng

Posted by cubic7117 > 2017-06-07 11:31 | Report Abuse

Sohai Talk like pro

1. CPTeh self claim sifu, Only talk abt CUT LOSS CUT LOSS and Mkt CRASH CRASH
then once said do not buy Down trend stock than after said he brg TUMBLING stock
KAREX, after dead cat bound result to 1.82 then he write sold at 1,80 cut loss at 1.76, REAL SOHAI

2. calvintaneng promoting his stock after turn holand then he said prepare for 10. 15. 20 years investment. other sohai

3 GOT another NEW sohai tell ppl buy near suspension and near PN17 stock, what a joker you better go educate your wife and children. BIGGEST SOHAI

Posted by bonescythe > 2017-06-07 11:44 | Report Abuse

So u r panai-hai la ?
Haha

Posted by bonescythe > 2017-06-07 11:45 | Report Abuse

See show dun see half day.
See 6 mths

I never advocate half day show

Posted by Alex > 2017-06-07 11:50 | Report Abuse

eden nab >0.8....and auditor so scare eden no money pay creditor?

Posted by Tai KT > 2017-06-07 11:52 | Report Abuse

this article has its valid point.

Posted by Alex > 2017-06-07 12:05 | Report Abuse

the thing is it's already reflected in the official report. So land selling is not a guessing game, it's only a matter of time.

Posted by Alex > 2017-06-07 12:06 | Report Abuse

this is unlike mui's play where asset liquidation is a guess.

Posted by JamesPond > 2017-06-07 14:55 | Report Abuse

Land selling is guessing game. Co did not mention anything about selling land. It is possible that Co MAY sell land to ease cash flow problem but as wealth seeker mentioned above, there may not be buyer. Additionally, whilst it is possible that land is worth RM12psf now, fact still remain that :
(1) portion of land sold on 25.06.15 at RM6.50psf
(2) fair value of land at 31.12.16 is RM165M (RM8.40psf)

Posted by Jay > 2017-06-07 15:09 | Report Abuse

another misleading article.
1. look at the announcement back in 2015, they are selling 80 acres land around that area for only RM22m. 450 acres may only get you around RM125m. even if you are right, if I'm the buyer, I will squeeze your price. I offer half price, take it or face bankruptcy, eden in no position to bargain
2. company still losing RM20-30m a year
3. the liabilities around RM200m need to settle. PPE in trouble, value doubtful, no profit deferred tax assets will be written off. left with investment properties (mainly the 450 acre land) and around RM120m current assets. assuming even if they get full book value for the land and current assets (RM160+120m) less liabilities RM200m, you get RM80m but it would take time to dispose. say 1 year, factoring in losses RM20-30m, eden value should be around RM50-60m. now eden market cap RM85m, good luck for those who punt on it

Posted by 3iii > 2017-06-07 15:12 | Report Abuse

Property and land prices peaked in 2015.

Posted by Alex > 2017-06-07 16:16 | Report Abuse

@JamesPond got mention selling land oh. you see my link

Posted by Alex > 2017-06-07 16:18 | Report Abuse

i think still got business ethic one. i believe the land deal will go through, making eden cash rich. By year end we'll have result =)

Posted by Alex > 2017-06-07 16:19 | Report Abuse

if im buyer, see eden employee will suffer if company zap lap, i see also kesian.

Posted by pussycats > 2017-06-07 17:14 | Report Abuse

This article actions, can those be fullfilled by the land buyer for Eden??? A big question mark.

Posted by bonescythe > 2017-06-07 17:48 | Report Abuse

Very simple.. land is near kuantan port. And kuantan port is main hub for ecrl.
If A buyer dun want this land, B buyer will take. C buyer also waiting.

Land is land, is not like condo where you can build another piece of land on top.

If buyer dun want land, then sendiri go to the sea and do reclaimation la..

Posted by bonescythe > 2017-06-07 17:51 | Report Abuse

U think whole land only 1 buyer waiting ah ?
China coming to Kuantan port.. many chinese company preying. Of tat buyer is willing to wait for eden bankrupt and giv a squeeze ball price, better dun do biz and go sleep la..

China alone also many big company..

Posted by JamesPond > 2017-06-07 18:07 | Report Abuse

Alex, no lah. Co/Directors never mention sell land. ZESB owes Eden money, and ZESB selling land to pay off the loan(has been like this for quite a while. (This is stated in the announcement by Board in response to the auditors qualification). The only place you see Co plan to sell land is in the auditors report. Auditor say, not Directors/Co????

Posted by Alex > 2017-06-07 20:29 | Report Abuse

haha u know la, that buyer kiam siap one....can lower get lower =D

Posted by Alex > 2017-06-07 20:30 | Report Abuse

is it? i think i missed out. So are they referring to the same land, i.e., what bone speculates?

Posted by Lambar > 2017-06-08 07:05 | Report Abuse

Dangerous unbalanced view and driven by self conflict motive....a typical reflection of bone.

Posted by feimah > 2017-06-08 07:38 | Report Abuse

ECRL is still in the planning stage.
Land price don't appreciate if there is no economic activity. Till now it is "10 stroke don't have a single dot"

Posted by supersaiyan3 > 2017-06-08 09:39 | Report Abuse

3 dayers got bored have to wait so long, wait it drop and buy cheaper.

Posted by Alex > 2017-06-08 09:58 | Report Abuse

"10 stroke don't have a single dot" now they getting faster becoz got going concern issue liao =) so 2nd stroke soon by end of june

Posted by Alex > 2017-06-08 09:59 | Report Abuse

if want one day huat, this counter maybe abit hard. but if land sale is done and announced, then rocket up -)

Posted by Alex > 2017-06-08 10:04 | Report Abuse

no land sale = dabao
land sale = survive

Posted by Alex > 2017-06-08 10:04 | Report Abuse

no land sale = dabao = liquidate asset = nab 0.80 = profit
land sale = survive = cash rich = profit

Posted by photon > 2017-06-08 17:06 | Report Abuse

A very cocky article. You can tell the author has very high regard for himself

keep saying "I want to teach you".

Unfortunately Eden is a crap stock

Posted by Apollo Ang > 2017-06-08 17:09 | Report Abuse

it's all control in bursa,no buy they will only push up if buy a lot sure mati no matter how good the stock is.they will press it down if not their cronies buy a lot in any particular counter