This one soooo...... yam gong! many penny stocks, even speculation ctrs alrdy flied high high .... this so called has a big project is like a beggar crawling on the floor .......
2011 bought the forest land with timber concession with rm260 million cash, till today no action taken on the asset.
Expenses to sell this 25% for RM41. 75M, is a whopping rm9M +, 20+%!!
Already said going to buy land with the sales proceed, not to be injected as equity of the power plant meant going to exit the power plant business altogether....
Price for timber now is down just like the prices for most commodities. To make the matter worst the price for palm oil too is depressed due decrease in demand and extremely cheap crude oil and on top there are increasing oppositions for clearing of forests for oil palm plantations. So the value of the timber concession has to impaired accordingly. The timber land concession meant to be cleared for palm oil cultivation.
They would be morons to get out of power business.Their partners are willing to buy their stakes in the power company is telling how valuable is the business .It is going to rake in hundreds of millions in profit and transform its image from a penny stock in overcrowded property field to a high flying power player.Since they can sell 80% which more or less able to pay for a stake of 20%,Tadmax should stay in the power company
If they do not want to miss out on construction work,there is plenty they can do by getting a subcontract out of the gargantuan amount of construction work in building the power plant which they should qualify by their experience and track record not considering they are the ones that started the project.In that way while the project is under construction they would have significant amount of revenue and profit sustaining a rising share price.Look at JAKS-same modus operandus,share price over 1.00.MFCB over 5.00.If they opt for property development with so much competition and lack of purchasing power among consumers,Tadmax will remain a penny stock like it is now.Pathetic and pitiful,no future
Are they they related to 1MDB previously, if yes please don't touch any company relates to them for at least a decade. sell a plot land of 3x of market price.. something fishy from their mgmt team
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....
firehawk
4,782 posts
Posted by firehawk > 2020-04-20 10:19 | Report Abuse
This one soooo...... yam gong! many penny stocks, even speculation ctrs alrdy flied high high .... this so called has a big project is like a beggar crawling on the floor .......