company is a good buy. look at the clean balance sheet. once income from property development comes in, company will have plenty of cash to pay dividends.
kingsuft : look at MCT's sale on the land next to it. now launching 3rd phase. land very close to cyberjaya and putrajaya. fatastic location.
company got no gearing too. all assets. company now going through the stage to unlock the assets. you count yourself the value of the assets compared to the share price and see how great.
point 1 1st land WAS 5.6m on 2008, then go unlock it become 100m on 2013. (WALAO!! LIKE THT STILL NOT CONSIDER UNLOCKED? OR IS OVER UNLOCKED?? )
2nd land WAS 3.8m at 2008, unlock to 58m on 2013 (WALAO!! LIKE THT STILL NOT CONSIDER UNLOCKED? OR IS OVER UNLOCKED?? )
y they do that?
becos they wanted to make the report look nice and SWTICH THE ATTENTION on the loss they made!!! DECORATE PURPOSE!! and i do think tht is overvalued.
point 2 plus, MCT is not doing very well in dengkil. their financial report is not so good among others who develop on another area.
point 3 when we talk about invest, we concern bout the quality of management team. A good businessman wont let the company suffer loss for years and yearssssssssss right? How come every year administration and operation cost is higher than profit?
they cant even do well in core business (can consider fail), how u expect them to do well in another field where they also not familiar? will it be another "operation cost higher than profit" case ? i doubt
CONCLUSION SOMETIMES WE DON'T LET THE FINANCIAL REPORT FOOL US.
After they "unclock" the land from 5.6m to 100m, wow wow wow... NTA from 0.03 shot up 0.07 many ppl believe that they can make money... then they start putting money in it. that time the price was around 0.07.
what happen after that? 0.06... 0.05... and now comes to 0.03. wow... more than 50% loss. you waste your capital here for few years and suffer loss. The management still doing the same thing allowing "operation higher than profit" and they claim huge amount of fee.
this is a goreng counter... not for invest. we must wait for a best time to cut in. not buta buta "invest"
hehe... that i dont dare to guarantee. Maybe another bomb set? Trap? judge your self
what i want to say is, this boss is brilliant and very smart. If you want to earn money from him, you must smarter than him.
what i feel sick is the way they run the business. I dunno whether they hire 3 person to do 1 person's job or they go pay triple the salary for all his staff higher than market price.
For how many years d? How come they allow this continue happen? The recent cut down of admin expenses is from disposal of CIL not because of the efficiency of management.
------------------------------------------------------------------------------- Year 2016 (RM'000) revenue: 79,108 cost of sale: 76,596 profit: 2,512 admin expenses: 8,696 ------------------------------------------------------------------------------- Year 2015 (RM'000) revenue: 117,794 cost of sale: 110,973 profit: 6,821 admin expenses: 11,479 ------------------------------------------------------------------------------- ** i lazy to type all detail out, for full version pls go read financial report ur self
Another problem is here.
stock on hand: 4.6m cash on hand : 2m dealer owe him: 7.7m he owe supplier: 24m
wtf is this... zzzz
means if u sell all the stock in your store, collect all debt from dealer, used all the cash on hand... u still owe supplier 10 million
is for sure up coming years is on loss too..
-------------------------------------------------------------------------------- plus, this company had no fund to run the development. Will they request top up fund from shareholder? Will you dare to borrow him money to run the business ?
later they tell you the admin fee is higher than profit again?
or maybe they will set a nice show says the JV failed, some trouble on the land, then set the company to PN17, pull down the share price to 0.020. then they start to buy back shares. lastly come out a white samurai, price shot back to 0.50.. they fat fat
for those who bought at 2014 or earlier dont cry. maybe you can get back 80% of your investment capital after 10 years become shareholder with Mr GOH.
The risk is there bro.. many possibility can happen. take care
be smart# be cautious# Happy trade# shadowseeker# Orson chin#
Year 2012 company loss 7.6m, but the directors get paid 5.1m.
Year 2013 company loss 3.4m, but the directors get paid 6.6m
Year 2014 company loss 33.4m, but the directors get paid 5m
Year 2015 company finally get small profit RM445k.. haha how come? because this year they only took away 2m.
see.. they can actually able to play upside down on the company. whether want it to be green or red. Is all under their control.
----------------------------------------------------------------------------------- **ALL THE FACT YOU CAN FIND UNDER PREVIOUS FINANCIAL REPORT, UNDER REMUNERATION POLICIES
In 3 short years, the ED alone (1 person) already took away 9m - 12.5m from the company which is suffering loss.
is it miracle? the company suffer loss almost every year. the ED still able to took away about 10m in just 3 years.
see the main problem that cause "operation and administration fee" far higher than profit?
----------------------------------------------------------------------------------- **ALL THE FACT YOU CAN FIND UNDER PREVIOUS FINANCIAL REPORT, UNDER REMUNERATION POLICIES
Lets think,
Question 1 Do you think the ED very concern about the dengkil project? must speed up the progress and make the company stop suffering loss?
Question 2 If the project success, you sure he will share the profit with you? If the project fail, you think he will suffer together with you?
Thanks for all the info. Hope ED can take note on the comment. Please don't eat all the meat, otherwise one day you will suffer a lot. Please be kind heart a bit.
Pity those who invested in this share fews years back. They suffer so much. ED : if you really eat all the meat, make all the 'ikan bilis' suffer; that is too much.
the deeper i go study, the more fear i gain.. very scarry!! 429,004,410 share he holding is only worth 15m if counted in 0.035, but his payout is 9-12.5m in just 3 years only.. almost can cover up all the share he own. no wonder he can buy high and sell low. madar faakar !!!!! feel like same boat with big big vampire.. other company with bigger size than this and with earning also dun take so much fee!!
Worst balance sheets I even studied. Just studied 2 years already found out the figures simply plug in, sometimes goodwill sometimes security value but bank cash deposit never show up to taller back figures and the land value is ridiculous. Suck beautifying skill. I though tat a good opportunity to buy at first. BOD is important to invest too.
lolz.. u guys still here? i sold all on march d. already gain 12% from other counter lo... slowly recover the loss on here. the management is enjoying life somewhere around the city center.
This counter only announced positive results when the company wants to convince the approving authorities and shareholders over its restructuring plan. Once plan is approved, the company continues to announced loss result.
relunctantly, but can't help myself, after many years of holding, no more confidence to the management, decided and sold all.....bye bye Szetoo and Goh
See Thoo Chan was fined in Nakamichi in the capacity of finance management
KUALA LUMPUR (Aug 4): Bursa Malaysia Securities Bhd has publicly reprimanded Nakamichi Corp Bhd and four directors, who were also fined a total of RM545,600, for breaches of the Main Market listing requirements.
Executive director Darren Solomon Low Jun Ket, and independent non-executive directors Goh Tai Wai and Mak Siew Wei were fined RM99,200 each, while its chairman See Thoo Chan was fined RM248,000, Nakamichi said in its bourse filing.
21 july 2017 Transfer of 8,000,000 ordinary shares from Mr Goh Kheng Peow's son, Mr Keane Goh Yan Han to Mr Goh Kheng Peow
smells like something bad blewing. soon his son will separate from this company and set up a new one outside with "free bullets". and this company will bankrupt and delisted very soon. next quater result 99.5% will be red red sea as well.
do not INVEST on those management which is lack of trustworthiness. unless u wan to GAMBLE.
no matter how much assets or even cash that company own. they wont share with u. only leak to own pocket. that is the only thing they concern. they never treat shareholder as partner. they don't even treat the company as responsible.
some more company is losing money for many years. failed to operate.
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....
kingsuft
11 posts
Posted by kingsuft > 2016-12-23 18:18 | Report Abuse
even in prime location, property sector already slow down. Do you think DENGKIL would be a successful project ?
#sale to whom?