1) knowledge 2) sensitivity towards market sentiment 3) capitals 4) guts 5) perseverance & patience 6) +ve "chi" or energy ( do not waste energy on unproductive things
Final: Dare to admit lost(cut lost) when price goes against you expectation.
1) maybe less than 1/2 pail water (in cantonese) 2) non 3)dog's food, not acceptable 4) female doggie, should have learn from miss jenny 5) just 3 market days already shown impatience 6) only - ve chi 7) foresight - non but skin thick like hippo. Market proved him wrong, still talkcock
There are few one-off impairment in CMSB in year 2020. The owner doesn't feel comfortable with it.
1.The Group also recognised an impairment loss of RM51,753,000 (2019: Nil) on the construction in progress in relation to phase 2 of an integrated phosphate complex project during the financial year.
2. CMSB booked heavy losses in Associate, OM Materials, for year 2020 is due to one off subscription of ICPS. Exercise of call option on Excess Irredeemable Convertible Preference Shares (“ICPS”) In 2018, pursuant to the Share Subscription Agreement with OM Materials (Sarawak) Sdn. Bhd. (“OM Sarawak”), OM Materials (S) Pte. Ltd. (“OM Singapore”) exercised its option to call upon the non-controlling interest shareholder of OM Sarawak to sell 66,309,700 units of Excess ICPS in OM Sarawak to OM Singapore for a total consideration of A$25,040,000.
3.The Division's PBT was also affected by Samalaju Hotel Management Sdn. Bhd.'s impairment on property, plant & equipment and Samalaju Properties Sdn. Bhd.'s project costs written off amounting to RM11.26 million and 5.19 million respectively.
4. Software implementation cost written off The Group entered into a contract for the procurement and implementation of an Enterprise Resource Planning (“ERP”) system with a vendor on 24 July 2019 for an amount of USD3.0 million (approximately RM12.4 million). Up to the reporting date, the Group has incurred RM7,244,541 in the implementation of the ERP system. However, the Group views that the vendor was in breach of the contract by failing to provide all the services and/or fulfill its obligations in relation to providing an ERP solution and system implementation. Consequently, a decision was made to stop proceeding with the implementation. As a result, the Group has written off the cost incurred for the implementation together with all direct expenses amounting to RM7,810,442 during the financial year ended 31 December 2020. Subsequently, on 27 January 2021, the Group received a letter of demand from the vendor for USD1,073,325 (approximately RM4.3 million) to be payable for various alleged work performed. These claims have not been provided for in the financial statements as Management views that these claims were not issued in accordance with the contract. Management, in consultation with their solicitors, is of the opinion that such demands are frivolous and the Group intends to contest such claims vigorously.
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....
AnsonLiew
2,251 posts
Posted by AnsonLiew > 2021-10-13 16:48 | Report Abuse
run now b4 price collapse
kmpg report fraud