Either that or calling up fresh cash through placement but won’t be considered regularisation plan, anyway who would want to take up placement shares in a almost bankrupt co., already more than 2B shares issued ifissue another 1B shares at 5s only 50m cash which doesn’t really improve the financial position much. Furthermore by issuing new shares the share price will drop further to account for the dilution effect of the enlarged share cap.
Sedonaal, don't get so angry, i believe a lot of ppl are just like you. There are many ways to get out of PN17, i did not study Daya financial statement in details, so i cant comment much on Daya. However, i know there is a company using "revaluation assets" technique to get out from PN17. The company has assets that do not get revalued every year, so when the company revalues its assets, it can book profit from land/building etc appreciation. These profits indirectly increase the shareholders' equity. If it can increase the shareholders' equity > 25% of initial capital, then it can get out of PN17 status. What you said I believe is the worst case scenario. If you are concern, probably you can take a look at Daya's AR or QR, and see what plan it can come up with. Let's hope for the best, plan for the worst.
They have been fiddling their books for years, they have hardly any assets to revalue ..... only items giving positives to their balance sheets are so called “receivables” which are actually a lot of nonsense, a lot of these will evaporate with time from impairments and LADs from delayed projects and reversal of unrealistic “bloated” claims against their clients
The clever ones bailed out early when the counter was trading in the “teens”, fools like us kept hanging-on hoping for a turnaround ..... wishful thinking :(
I was informed by “reliable” sources with close business dealings with their 51% owned subsidiary DCMT that the recent award of a private hospital project was a last ditch desperate effort to “cloud-cover” their impending PN17 problem. It was at an extremely low price compared to the next bidder and it is expected to be a very problematic project, just look at the details .... 104m value to be carried out over a 33 month duration! That’s only 3m a month, my grandmother sell more from her nonya kuih stall in SS2 wet market!
Take a detailed look at the people running the listed holding co. DMB, bunch of idiots. The same management style filters down to the heads of their subsidiaries, people with little or no experience in running these specific businesses for example the guy running the biggest revenue subsidiary is the elder brother of an ex-director who used to run their family’s spice powder business .... ridiculous and laughable
Look at their chemicals business, all thei top managers packed up & left on short notice following their exCEO who joined a competitor. The BOD doesn’t have a clue on how to retain talent & develop the business to a higher level, they are just crooks milking the co. of millions in salaries, bonuses &benefits despite losing more than 300m in the last 3 F/Y
Senior key management in their subsidiaries jumping into life-boats to avoid drowning with the ship, NT was forced to leave the BOD by LSF to make way for his nominee TS Lim to have a free-hand bcos of the mess created by the Thams
sedonaal I was informed by “reliable” sources with close business dealings with their 51% owned subsidiary DCMT that the recent award of a private hospital project was a last ditch desperate effort to “cloud-cover” their impending PN17 problem. It was at an
Haha, l also informed by “reliable “ sources said their got big project not yet announcement....haha Let see who sources more “reliable”........ fly to skyyyyyy
As to the yet to announce “big project”, they are trying to land a high rise condo project in KL. Haven’t they realised that they are not into high rise construction after the disaster of the Central Residence project in KL where they were terminated for their inability to perform and the project was delayed more than a year when the contract was terminated!!!!
LSF (largest shareholder) will inject his submarine cable laying business but b4 it happens he will want Daya to drop more so more shares issued to him
Trading vol for entire morning is only 1.7m which is relatively low, and this means many share holders decided to hold rather than sell. I would opt to hold and buy more to keep as I see potential revenue in the coming quarter results.
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....
prc4wifefe
3,564 posts
Posted by prc4wifefe > 2018-03-07 20:40 | Report Abuse
huhu...share buyback