Facbind's cash has gone up to RM 167 million in its latest quarterly report. At 8 sen a share, its 339 million Karambunai shares are worth another RM 27.1 million. Cash + shares are already worth RM 2.28 per share.
If the company directors do not know what to do with it's over RM 150 million cash pile, just distribute the money to the minority shareholders as dividend and let them decide what to do with their money.
Based on latest financial data as at 30Sep, its CASH per share stood at RM1.77 ! If you include their quoted shares and bond (total RM38.8mil), its CASH and CASH EQUIVALENT per share goes to RM2.30 !! This company has no borrowings. they are doing the "Dreamland" mattress. Most of you may buy this product before. Subject to privatization, and possible at RM2.30 (against its Net Asset of RM2.57 per share). At current price of RM1.20, you are buying at RM1.20 in exchange to cash in the company for RM2.30.
Active today. Cash rich company with zero borrowings. Potential for privatisation. Main shareholder has privatised his two other companies in the last 2 years, Ptg Tin and Kbunai.
As at 31 Dec 2021, FACB's cash and other investments are worth over RM190 million or RM2.30 a share. It is ridiculous for its shares to trade at RM1.13 a share.
The company has kept RM150 million cash in the bank for almost 10 years now and the management doesn't seem to know what to do with this vast amount of cash. Just declare a RM1 per share dividend. It is so simple.
Tightly held, cash rich (RM1.8 per share), zero bank borrowings. The major shareholder has taken private Kbunai and Petaling Tin 2 years ago, high chance will take this counter private.
Tightly held, cash rich (RM1.8 per share), zero bank borrowings. The major shareholder has taken private Kbunai and Petaling Tin 2 years ago, high chance will take this counter private.
This company has been keeping over RM150 million cash for over 10 years. It has no viable business model. It should just sell all its assets and distribute its cash to shareholders and fold up.
No clear laws in the country to look after the interests of small investors, so major shareholders just use the loopholes to take advantage of small investors. Should they want to take the company private, maybe they would just offer something slightly better than the prevailing market price instead of taking into account the company's actual worth.
Management has been keeping the money (over RM100 million) from the sale of some assets for more than 10 years. Perhaps they would keep the money for another 10 years without doing anything proactive.
A hidden treasure, a market's plight, FACBInd shares, shining ever bright. With fundamentals strong, a solid base, A potential windfall, a future's grace.
A general offer, a tempting prize, A chance to profit, beneath the skies. Undervalued now, but soon to soar, A golden opportunity, forevermore.
So seize the moment, invest with care, A diamond in the rough, beyond compare. FACBInd shares, a promising sight, A future's fortune, shining so bright.
FACB Industries started off as a mattress company. In the early 90s it ventured into China as well the into the stainless steel pipes and fittings sector. Thereafter there was a change in the controlling shareholder. But there was no new business ventures and the group continue with the bedding and steel operations for many years.
About a decade ago, the group started to divest its steel business so that today it is left with the bedding operations, its investment in China and lots of cash.
In Dec last year, the controlling shareholder pass away and his son has taken over the management of the group. Nothing new has happened so far but I hope that with a new person at the helm, there may be a change in the business fortune. So keep FACBI in your radar. https://www.youtube.com/watch?v=kMBshJ1paRI
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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....
prudentinvestor
4,516 posts
Posted by prudentinvestor > 2018-02-27 16:49 | Report Abuse
Facbind's cash has gone up to RM 167 million in its latest quarterly report. At 8 sen a share, its 339 million Karambunai shares are worth another RM 27.1 million. Cash + shares are already worth RM 2.28 per share.