I am watching on the side. There won't be any upward action until announcement of getting into a new core biz. The catalyst will be once the new core biz start reporting profits for 2 quarters and out of PN17....my guess it will be some time in 3rd quarter of 2017.
If the stock drop below 0.90, will pick up some more. This quarter result expected to be report a loss....hoping to pick up more shares during that time.
Repost from 30/8/2016 This stock is not a contra counter. Don't assume Shares Buy Back can help you to make money. On 26/8/2016 volume traded was 2,346,600 shares. The Management Shares Buy Back was 1,474,600 shares with the min price RM0.93 to max price RM0.95. Yet share price this morning is lowest at RM0.915. No Sense, right? So, MAAG is no play, play counter. Only if you have the money to pick up the shares, then you will well rewarded in the long term. ------- Share price keep coming down due to impatient retail investors selling, it is too long await for the new business acquisition by the Manegament.
SO, Warren Buffett quotes " be fearful when others are greedy and greedy only when others are fearful.”
So, patience, patience, patience is the name of the game and going forward, this could be very exciting for the shareholders to see more improvement in the share price trending up soon and something good is coming and "Good things come to those who wait"
I was also thinking of buying at RM0.885. Just that, right now, the market very uncertain with downward pressure, so staying on the side lines. Looking at it, it is a good buy, tempted.....see how today :)
Danny why you want it to come down to 0.55 ? So that you can buy ? Fat hope . Sounds like you're here to frighten those who are holding it . Bad boy danny !!
Agreed with the comments above. 1. RM0.55 - unlikely, more like impossible/improbable. If 0.55, dividend yield will be over 10%. Many will sapu at higher prices. 2. Current price, dividend yield of 6.8% makes this stock very attractive. Better than FD rates at banks and above inflation rate. 3. Stock price currently below the cash per share. 4. Once buy profitable business, out of PN17, can expect price to go up by close to 50%. My time frame is within the next 12 months.
The above reasons is why I recently added some more.
Buy at bargain prices of 0.895 sen is given the dividend yield of 6.7% p.a. Adjusted NTA is RM2.05 per share after Shares Buy Back by the Management todate.
Sitting on a pile of cash that is depleting day by day due to -
1. losses 2. uncontrolled opex - management directionless- so only way to enrich themselves is to creatively spending on non-productive expenses that goes into their pockets..like staff benefits etc 3. same goes for the directors that if this is left unchecked, the rate of depletion will accelerate..but due to the huge cash pile, it may take a while until people realized that one day it is going to vanish..unless they find a biz that generates profit n cashflow
Also since they do not have a solid profit generating business and siting on a pile of cash, so only way to prop up the share price is to buy back own shares..this will also deplete the cash pile but temporary prop up the share price but at a cost of diminishing cashflow.....then until one day when the balance tilt and people realize that the depleting cash pile to buy back shares cannot justify the price prop up...then day of reckoning will come and its hell break loose
Yes, there is a risk. 1. Without biz, make losses and over time depletes cash. 2. Directors go on a spending spree. Go to US, produce a film, buy expensive art & properties etc. 3. Share buy back depletes the funds.
There is this sort of risk with any company you invest in, just different degree. Where directors might misappropriate funds, pay themselves too much, spend on unnecessary things etc. But we must calculate the risk. If don't want any risk, put money in the bank.
I agree wth pharker, spent share holder money, after all he ve 36% only Talking about dividend , d company may not pay u 6 cents every yr, dont dream Another reason , company may buy over value assets, maybe pay extra 30% , who know??
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....
TheContrarian
9,501 posts
Posted by TheContrarian > 2016-10-05 09:38 | Report Abuse
Ok, thanks balvin71.