Latest quarterly report has been released and YeeLee did well with improvement in sales & margin. I expect the same result on next QR because water rationing affected more Selangor people during April plus the possibility of El-Nino
Just received the audited annual report for 2013. I think the company is just too "kedukut" in denying the rights of the minority shareholders to get just reward of its profits. EPS at FYE is almost 19 cents per share. Final dividend payout is only meagre 3 cts per share!!! . What is the justification? NTA is almost RM 1.80 per share but the share price is underperforming, below the NTA!!! As an investor, you get quite a bad deal, not profiting from conservative dividend policy on one hand and appreciation in share price. Perhaps it may be due to the age of the board members. Most of them are past late 60s, gets good remuneration and may be quite frugal in living style. That may be the reason why minority shareholders are not getting good deal from investing in the company.
this company is very kedekut company. I heard the employee work inside there received groundnuts + small angpow during bonus time. Therefore , don't hope that it will pay good dividend to shareholder. Really pure cina-man company and kedekut.
You are right Jolie. What to expect from the conservative board members. Conserving cash and more cash. Does not know how to reward minority shareholders with fair share of profits. Pure frustration!!!
I also heard this cina-apeh director drive forklift and act as a general worker in the factory . So stingy that he do not want to hire a worker. Every penny , he also put inside his own pocket. Really pure 100% cina-apek company.
What is the point. A very conservative company can achieve significant profits annually. But if the dividend payout policy is always maintained at very dismal amount and the share price is always not reflective and lagging behind the annual increase in NTA value, then shareholders particularly the minority shareholders cannot realize /unlock the benefits accrued to the company. It is just like we are watching the fruit getting bigger, flagrant and juicier each day but if it always hang up in the tree and wont drop , we cant get to taste the fruit . Regardless of how hard working the directors are is this the type of of company ( which has no interests and responsibility to the minority shareholders ) we want to invest. Charity begins at home and from what Jolie describe, i think there is no future for minority shareholders.
i also-also heard that this company have a big eagle logo drawn on the building at factory . Looks like a "Nazi" factory. No wonder, all the cina-apek director looks like a communist director....squeeze the worker and shareholder until no juice left.
If this is the mental attitude of the directors, it is better that they take the company private rather than become a public listed company. I remember a case of Mr Scrooge, a rich and extremely stingy old man. He keeps on enlarging his treasure chest, holding it very tight and not wanting to share out all the monies he is hoarding. He smokes but cigarettes are usually taken free from friends. All this children can only see his treasure getting bigger and bigger, can dream of but cant squeeze a dime out of it, many perhaps wishing the old man to die faster so that they can inherit the treasure chest. So when the old man passed away, he cant carry his treasure chest with him and in the end somehow his female servant gets to inherit all his treasure chest. This is the real story
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Posted by Gubang > 2014-05-13 13:29 | Report Abuse
Analysis YeeLee
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