No way this counter can be equated to CSL. CSL cash reserve is highly suspicious. If CSL have so much cash, why the shareholders are cashing out? Just think.
Hold on to it as the price will need to reflect the potential sales of its pulau indah and Irian jaya parcels .... Then with cash, they need to rebook at their business model. However, management seems to be an issue as continue to lose big money .... Rm45 mil for 4 qtr of 2013 ..... If I am not mistaken
There were no material events subsequent to the end of the current financial quarter under review to the date of announcement which were likely to substantially affect the results and the operations of the Group except as below :-
(a) On 20 February 2014, the Company had entered into a share sale agreement with Ivory Merge Sdn Bhd to dispose off the entire issued and paid-up share capital of Tadmax Power Sdn Bhd (“TPSB”), a wholly-owned subsidiary of the Company, for a total disposal consideration of RM317,334,600 to be satisfied entirely in cash (“Proposed Disposal”).
TPSB is the beneficial and registered owner of approximately 310 acres (“Subject Land”) out of the total land area measuring approximately 379 acres of a piece of vacant leasehold land bearing the master title No. PN 7375 Lot 72779, located in Pulau Indah, Klang, Selangor Darul Ehsan.
As at the audited financial year ended 31 December 2012, TPSB had net assets (“NA”) of RM291,914,000, while its unaudited NA as at the date of the announcement on 20 February 2014 is approximately RM138,389,000 (“Completion Accounts”). The unaudited NA comprised mainly the Subject Land with carrying value of approximately RM138,389,000.
Based on Completion Accounts of TPSB of RM138.39 million, the Proposed Disposal will give rise to a post-tax gain on disposal of approximately RM136.51 million to the Group or a gain of approximately 36.6 sen per Tadmax Share.
sang-jero....i think RM2.0 is a abit hard to achieve as this company is suffering from a huge loss since last Qtr. However, if the company comes out with a feasible project which sound making money then only is possible to climb up to RM2....my 2 cents opinion.
If u want to accumulate, u push price down but if it goes too far down, people loose confidence so it must be kept at a reasonable level, ie tak mati tak hidup
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....
nagachan
669 posts
Posted by nagachan > 2014-03-03 22:54 | Report Abuse
No way this counter can be equated to CSL. CSL cash reserve is highly suspicious. If CSL have so much cash, why the shareholders are cashing out? Just think.