Positive development in selling loss making BCC for 230 million, in line with turn-around strategy of disposing non-core business. Hopefully more will be announced within the next few weeks as promised by the new CEO.
I am positively surprised that the disposal of BCC is not a fire sale because there is a profit of 3.8 million as stated in the announcement. NTAPS remains at 1.84.
The cash flow generated will help the turn-around.
There must be a reason 4 the Qtr result announcement to be delayed. Trade houses expected Bstead group to incur losses due to impairment { but why are they holding back }
KYY is a shrewd operator. He targets undervalued but with big profitable outlook. He plays up the initial glove mania but gets greedy and started to punt heavily. He has his own followers and haters and not forgetting certain trade or fund houses
Disposal of the cruise terminal { 230 million} and sale of Royal Chulan hotel Bukit Bintang {197million} non related business is just the beginning. Stragetic sale of other non related business eg car rental leasing and Kao trading may follow. Not forgetting their valuable holdings of prime land in Penang . 1 billion in funds easily can be raised without touching Their core business { Affin, BHP petrol, UAC, Mutiara Rini, 1Cochrane, Pharmaniaga etc}
still waiting for qr. does it means not good as price has fallen.. insiders selling just like before they announce cancellation of privitisation, price plummets as insiders/major shareholders already knew the outcome
really bad management! 3 -4 years ago bstead price about RM3 and gives dividend more than 10c enabling LTAT to also give more than 13% divident to its AF members! Can the new management do that????
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....
brianklc
1,624 posts
Posted by brianklc > 2021-03-19 12:02 | Report Abuse
Mfbs, not scared army camp in front of ur hse?