I have the same feeling, wrote to them, and below is the reply:
Dear Sir/Madam,
Thank you for your email.
We noted your comments therein. We wish to inform you that our business operations have not been affected in anyway by the share buy-back.
The Company’s share buy-back is carried out in accordance with the procedures and mandate given by the shareholders of the Company and is in the interest of the shareholders and the Company.
Regards,
Choo Se Eng
Company Secretary
I have further asked but so far no response :
Hi Choo Se Eng,
Thank you for your reply. I refer to your reply .... " and is in the interest of the shareholders and the Company."
1. How can you be sure buying on daily basis is aligned with the interest of the shareholders and the Company. It doesn't seem to be supporting the share price or moving it up, or anything.
2.What exactly is the benefits or interest that we are looking at currently by buying on daily basis?
3. What is the company's internal policy to prevent the person entrusted to do the share buy back is clean? I am imagining, "if" let me do the job, I will be making a lot of money buy now with a few buying and selling strategies, since I am quite sure whatever price I bought, I can log on to the company account to buy it back from my personal/proxy account. I noted a few times the "timing" daily transactions look so weird, one someone sold, next moment (less than few seconds, there is a bought, and thereafter it can be no more transaction the rest of the day.
4. I have checked thru various announcements for share buy back and noted that your company has the highest, almost daily SBB transactions in Bursa. Why abnormal compared to others?
5. Will your method of buying on daily basis will achieve intended results? What is the results that you want to achieve?
6. Can you please justify that you buy on daily basis will meet the mandate?
TQVM Tyliew. You are great for taking the trouble to check with the company. Personally I don't buy in arguments for shares buy back which may subject to abuse and mislead the market. Good profit making together with reasonable dividends may able to support the price. Genm bought its shares at above $5, then above $4, now is only trading at $3.35. Anyway, good luck for your investment.
There are only really 3 key questions to ask here. 1) Nylex's current sustainable earnings? 2) Is the sanitizer demand here to stay? and 3) are those value reflected on price yet?
U need remember this important issue; Hexza is definitely more efficient than nylex, they pays dividend of 5 sen per share for many years but nylex do not pay anything bcos cannot afford to pay mah....!!
If u play play punting can buy nylex....not invest like u buy hexza for investment mah.....!!
If u make monies can start lari on nylex, if it start falling quickly cabut kuat kuat loh.....!!
Nylex was earning RM30 mn PBT back in 2017/2018, before trade war affects its performance. Now trade war impact gone as US/China reach consensus on petrochemical products. And Nylex's market cap is only RM174 m. So without even the need to point out the various positive factors mentioned in my article, I rest my case.
So what is the difference now vs. 2017 - 2018? Oil price. Check how much margin has expanded (in %) during the 2015 - 2017 period when oil price tanked.
today a lot of counters such as LKL, CAREPLS, HLT sold down from top. Despite that NYLEX still able to sustain above 80c and closed at 82c considered quite good already. This NYLEX share issued only 194 mil and very light, which is lesser than HEXZA also.
It is quite reasonable to give a fair value of RM 1, given the reasons:
Increase demand of ethanol, which used for pharmaceutical and sanitizers, especially during the outbreak of COVID-19
Yes Calvin very happy for all bought luxchem at my first buy call at 47 sen. Now luxchem already 72 sen or up more than 50%
Will go back there later when things cool down Also very happy with comfort glove bought at 88.5 sen and Supermax bought at Rm1.73. both up by more than 100% now. So I comment less there although still holding luxchem, comfort and Supermax tightly.
For Nylex it just up less than 20% from 68.5 sen to 82 sen
As gloves moved to face masks now my focus is sanitizer
And Nylex looks like another potential candidate to go up a 100% like comfort or Supermax
Nylex with the biggest ethanol refinery in Chuping perlis is a real hidden gem
I think price of Nylex will overtake Luxchem and reach Rm1.50
In this superbull run year of glove, face mask and sanitizer Nylex could cross Rm2.00 with booster from covid 19 demand for ethanol
There might be others making ethanol But listed firms are Hexza and Nylex
Since Hexza already up so much the best buy now is LAGGARD NYLEX
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....
manahin
244 posts
Posted by manahin > 2018-07-19 10:06 | Report Abuse
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