what happen to maybulk? Can anyone explain in details
WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Members Voluntary Winding-up of Wholly-Owned Subsidiary of Malaysian Bulk Carriers Berhad (MBC or the Company)
OSV (Associates) Very hard to value this company due to making losses. Hence, from NTA perspective, assuming write off of associates RM700m (associates = RM1.3b v market value of associates RM0.6b).
Dry Bulk + Tankers (invested) Estimated value = RM2.0 b, due to substantial drop in charter rate of USD25k per day to USD8k per day, tankers value provision say 50% = RM1.0b
ROUGH VALUE OF MAYBULK ASSETS
Net asset value = 2.2b - 0.7b - 1.0b = RM0.6b which is close to the share price.
UPSIDE
Depends basically on the recovery of BDI, but based on 2015 figures, another year of blood bath for 2015, i.e. losses of about RM70m. Going forward, if BDI continue to suffer in 2016 (likely), hence it will have another year of RM100m losses.
Will it go bust? Such a huge and profitable company last time...who could have predicted it to fail like tis , in fact nobody saw it coming...Tomorrow is a distress day for Maybulk..
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....
Orgfull
89 posts
Posted by Orgfull > 2015-11-24 16:20 | Report Abuse
If buy it now and wait for 3-4 yrs,is this stock ok to keep?