Almost did get a heart attack when it was sued by Customs earlier. Couldn't let go soon enough. Wonder how the case is going on now. Until I have further information I won't touch this beauty.
The case is still on going, business is as usual, it. Is just a hitch in any business. If shr bot at 4.00 n with this type of negative news ,there is knee jerk reaction n affect the price. My 2 cents.
Tdy this counter literally drop like a brick Is it time to sell now or keep for long term???? Will it keep giving good dividends in the long term???? Big question .see the report from the Kastam in the bursa malaysia website.
Whether Customs can win the case or not is still left to be seen,Harrisons will definitely fight hard to win this case. It may drag on for years , FA remains firm. FYI Customs does not win all the time.
Result out today. EPS 8.15 sen. Turnover up yoy due to increase sale of Coca-Cola and F&N diaries. Regarding custom duty of RM 91.75 million , Harrisons Trading (Sabah) Sdn Bhd (‘HTSh’) stand is still not liable to pay as previously announced.
if not because of the custom problem, Harison price will not drop to present level. So its actually an opportunity to buy a company with stable earnings and reasonable dividends. The custom problem will be resolved sooner or later and the present price has factored in this issue already.
there's no recent coverage. last coverage was 11/5/2011 by cimb research.here's the quote to rich question on tgt price.'The stock is not on the radar screens of institutional investors or even retail research houses, mainly because of its tight free float and an average 3-month daily trading volume of only 0.05m shares. It is, therefore, not surprising that the stock is undervalued, trading at a huge 60% discount to its RM9.27 SOP/share. A 30% discount to its SOP value to reflect its poor trading liquidity pegs the stock at RM6.49'
abc_111....hope this address your question too.rm6.49 is not tgt price, it is sum of parts valuation less 30%. this was 2011 valuation. take note that the customs problem happened in 2012
Recently the stock been ranging from $2.90 to $3.01 with consistent volume of 20 to 40 lots despite the overall market downtrend. Any good news around the corner ? Their recent 2 quarters of financial results were not impressive compared to previous year too.
MATERIAL LITIGATION Receipt of a Letter of Demand dated 15 February 2012 by Harrisons Trading (Sabah) Sdn Bhd from Kastam DiRaja Malaysia
HARRISONS HOLDINGS (MALAYSIA) BERHAD
Type Announcement Subject MATERIAL LITIGATION Description Receipt of a Letter of Demand dated 15 February 2012 by Harrisons Trading (Sabah) Sdn Bhd from Kastam DiRaja Malaysia
The Board of Directors of the Company wishes to announce that our wholly owned subsidiary, Harrisons Trading (Sabah) Sdn Bhd had on 21 February 2012 received a letter of demand dated 15 February 2012 from Kastam DiRaja Malaysia demanding payment of the sum of RM91,750,418.99 for purported unpaid:- i) Import Duty amounting to RM31,452,344.00
ii) Excise Duty amounting to RM54,805,709.42
iii) Sales Tax amounting to RM5,492,365.57 Harrisons Trading (Sabah) Sdn Bhd was given 14 days from date of the letter to respond to the demand from Kastam DiRaja Malaysia. Harrisons Trading (Sabah) Sdn Bhd does not admit being liable to pay RM91,750,418.99. The Company is seeking legal advice on the demand and will make a further announcement on this matter after obtaining legal advice. This announcement is dated 21 February 2012. ---- this company must die...kastam not asking what is not theirs...its theirs alright
I will rather invested in Harrison rather than the method suggested by scott. Why? In other words, the binary options, is GAMBLING with NEGATIVE EXPECTED VALUE (-9%).
Good news, Harrison n customs already came to an amicable , ex-gratia settlement of 31.5 million which is so much lower than initially claimed by customs of 91.7 million. Now Harrison can move forward without any impediment.
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....
pjforsuccess
109 posts
Posted by pjforsuccess > 2012-05-09 09:54 | Report Abuse
is this stock good for investing now at this price of rm 3.20? anyone can help me ?