Now that things are at standstill Netx has 2 advantages
1) NFCP being National Telecommunication will still go on as planned while others stop work
2) Netx Rm34 Millions Cash in Bank will be still earning interest
(Johnchew Zelan on the other hand will have Rm500 Billions debt bomb piling up interest. Shootup Benalec stopped work but Directors will still siphon off another Rm8 millions fees)
1. RM 72.7 million is owe by subsidiary companies since 2012 to 2018 , all loss already , not a single sen is pay back .
2. RM 34 million cash is b/f from FY18 . Since FY18 to FY19 , issues SIS ESOS shares total amount = RM 30.7 million. Balance RM 3.3 million is the remaining allocation for PayAllz.
3. From Dec2018 to March2019 , there are 5 times of ESOS shares, why so desperately for cash fund raising if still have cash RM 34 million ?
4. Not eligible to get bank loans due to its business, and with each year record is at Loss .
1. Lack of hands on management After failing to get payment of Rm300 millions for Meena Plaza Zelan should have seized Meena Plaza and complete it then sell it for whatever it can get
But after letting it rot for 5 long years it was demolished with total loss
This is 5 year long neglect and inexcusable
2. As Zelan has Rm500 millions debt bomb this Rm300 millions should be it's margin of safety But now gone up in a puff of smoke
So Zelan is now very vulnerable ...like a snail losing its shell
Iium and Suke monies will be stuck as Govt trying to knock down expense
Banks in trouble are now calling back loans just like Utusan and London biscuit which gone into liquidation
At the moment the debts rm500 millions but cash only Rm5 millions
Whatever money raised cannot cover debt interest payment alone. How to ever settle the principal sum?
Since you know it is a losing battle why fight?
Even 3 sen or 2 sen still money.
Just sell and salvage whatever you can get before the door slam shut like Utusan or London Biscuit in total loss
Well certainly much much much better than Taikcyc's good friend who is using Kentut & DickyMe (meaning PutDickInMe @ FukkMe @ BuggerMe) as his nickname
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....
Mikecyc
46,802 posts
Posted by Mikecyc > 2020-03-17 05:36 |
Post removed.Why?