not much mention of glove biz in qr report, your guess is as good as mine.... they gg themselves. now talk about tech and ev.... walao, become fintech liao? jump here jump there...
Looking at the stock price.... prior to that GKent used to do SBB every now and then at a few thousand ringgit, after the glove factory, they've stopped. Harta and TG also says ASP went back to pre-covid level already, this means GKent will probably lose money like MahSing. I'll wait for the QR.
Oh, and their railway... sold already, no more. Waterworks.... one more last package to win. Taliworks and Ranhill won, maybe last parcel give to gkent, wait loh.
Gkent has projected net negative cash flow from operations this year due to their construction of Dynacare. We will be lucky if we can get 2.7c div this year. Both package 2 & 3 of rasau is won by taliworks. I don't think ranhill won anything.
Honestly, the chances for gkent to win package 1 is quite low, judging from the amount of strong tenderers like gamuda and Ijm. Gkent is rumored to have partnered with a state own entity to jointly bid. Could it be KPS?
Quote: "The construction of the Dynacare glove manufacturing plant is progressing as planned with the first dipping line commencing commercial glove production on 27 November 2021 and another five dipping lines to be completed by middle of the year."
Middle of the year will have 6 dipping line.... covid also ending liao.
Hi Sifus yang good in analysing financial reports:
How to tally the increase in the Investment in Associates (Balance Sheet) to the notes to the accounts? 31 December 2021 31 March 2021 Investment in associates 17,578 3,469
4 Changes in composition of the Group (a) The Group, at an Extraordinary General Meeting held on 8 June 2021, received shareholders? approval for the proposed diversification of the Group?s existing business activities to include the manufacture, sale and distribution of gloves through the approval of an investment in a 40% equity interest in Dynacare Sdn. Bhd. ("Dynacare"). (i) On 9 June 2021, the Company subscribed for 2,000,000 ordinary shares of RM1.00 each, representing 40% equity interest in the share capital of Dynacare, for a cash consideration of RM2.0 million. Effective from that date, Dynacare became an associate of the Group. (ii) On 12 July 2021, the issued and paid up share capital of Dynacare was increased to RM10.0 million by the additional allotment of 5,000,000 ordinary shares at an issue price of RM1.00 each. The Company subscribed for additional 2,000,000 ordinary shares of RM1.00 each for a cash consideration of RM2.0 million. (iii) On 7 October 2021, the issued and paid up share capital of Dynacare was increased to RM17.0 million by the additional allotment of 7,000,000 ordinary shares at an issue price of RM1.00 each. The Company subscribed for additional 2,800,000 ordinary shares of RM1.00 each for a cash consideration of RM2.8 million. (iv) On 24 November 2021, the issued and paid up share capital of Dynacare was increased to RM42.0 million by the additional allotment of 25,000,000 ordinary shares at an issue price of RM1.00 each. The Company subscribed for additional 10,000,000 ordinary shares of RM1.00 each for a cash consideration of RM10.0 million.
After 2 years Uncle George only starts glove production... TG says ASP drop to USD19 liao, and might go lower due to price war. Uncle George... what are you thinking? Sell LRT project, go start glove business. Now MRT3 got no opportunity to enter.
in the johan interview, tan sri says after they sold their diner business, they go explore 100 over business and cannot think of a good business to utilize their cash pile, so they say glove is the best. walao eh. use that money to buy palm oil estate or start a hotel business or something also good, go where the trend is up, not where the trend is down.... how he do business one leh?
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....
OldWiseMan100
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Posted by OldWiseMan100 > 2021-11-26 08:37 | Report Abuse
not much mention of glove biz in qr report, your guess is as good as mine.... they gg themselves. now talk about tech and ev.... walao, become fintech liao? jump here jump there...