Only for speculation play. As highlighted, when making profit, non controlling interest shared most of its profit (did they contribute any resources for those projects???), this is extremely odd. You can make a comparison with other listed companies on net profit distribution. Next, outstanding borrowings will kill the company, just interest itself is too heavy.
I would like to follow-up up on the point brought up by Jeffreyteck on who the so-called non-controlling interests are. It is indeed very odd that for the 3 months consolidated statement ended 30 June 2019 (available from the Bursa Website for Bpuri) profits attributable to the owners of the company for the 3 months ended 30 June 2019 is only RM 324,000 while profits attributable to the non-controlling interest is RM 5,091,000. For the 18 months ended 30 June 2019 profits attributable to owners of the company is only RM 500,000 while that for non-controlling interest is a huge RM 32,449,000. As Jefferyteck pointed out this is indeed very odd.
Does anyone know who the non-controlling interests receiving the bulk of the profits are, while owners (I assume shareholders) are getting hardly anything. I think we need this clarified before subscribing for the rights issue since nearly all the profit appears to be going to the so called "non-controlling interests".
Perhaps we, as shareholders, should first have a brief meeting among ourselves at 9.30 am before the EGM at 10 am on 22 October so that we can discuss this matter and arrange to collectively seek clarification from the Bpuri Board on the issue during the EGM. We really need this clarified before subscribing to the rights issue to protect our (shareholders) interests.
Jeffreyteck, are you coming for the EGM on 22 October? Hope others coming for the EGM will also have a look at the consolidated Financial Statement for the year ending 30 June 2019 for Bpuri, available at the Bursa website and also share their views on this matter here.
@analysts... I had been observing this counter when it was around $1 around 5 years ago and attracted by its nta then. Luckily did not invest in it but just wish to highlight some concerns noted. You or other SHs should request for clarification on the above and ask whether non controlling interest provided any resources for those projects undertaken.
I won't just comment just because I didn't own the stock. In the case of London biscuit for eg, where I invested some before, yet I critiqued it when it was traded above 60 after hold for a few years. Anyway, I finally disposed of above 60 as trust on management has ceased, and huge borrowings as well as frequency of private placements are just beyond my tolerance level.
Every companies e.g. Public Listed Companies by Bursa Requirements, need to have a personnel on Investors Relations to reply and answer some questions by minor shareholders. Looks like this company is hopeless. Phone passing around.
5932 BPURI BINA PURI HOLDINGS BHD Important Relevant Dates for Renounceable Rights
Full Description:
Dispatch Date: 02/12/2019 Trading of Rights Start On: 29/11/2019 Trading of Rights End On: 06/12/2019 Stock Par Value:
Last Day and Time for: - Sale of Provisional Allotment of Right: 05/12/2019 05:00 PM - Transfer of Provisional Allotment of Right: 09/12/2019 04:30 PM - Acceptance and Payment: 13/12/2019 05:00 PM - Excess Share Application and Payment: 13/12/2019 05:00 PM
Remarks: The last date and time for acceptance, excess application and payment is 13December 2019 at 5.00 p.m.This announcement is dated 12 November 2019.You are advised to read the entire contents of the announcement or attachment.To read the entire contents of the announcement or attachment, please accessthe Bursa website at http://www.bursamalaysia.com
EX-date 27 Nov 2019 Entitlement date : 28 Nov 2019 Entitlement time : 05:00 PM Entitlement subject: Rights Issue Entitlement description: RENOUNCEABLE RIGHTS ISSUE OF UP TO 439,345,450 NEW ORDINARY SHARES IN BINA PURI HOLDINGS BHD ("BINA PURI" OR THE "COMPANY") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.09 PER RIGHTS SHARE TOGETHER WITH UP TO 439,345,450 FREE DETACHABLE WARRANTS IN BINA PURI ("WARRANTS") ON THE BASIS OF 1 RIGHTS SHARE TOGETHER WITH 1 FREE WARRANT FOR EVERY 1 EXISTING ORDINARY SHARE IN BINA PURI ("BINA PURI SHARES" OR "SHARES") HELD BY ENTITLED SHAREHOLDERS OF BINA PURI AT 5.00 P.M. ON 28 NOVEMBER 2019 ("RIGHTS ISSUE WITH WARRANTS")
a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers : 28 Nov 2019 Ratio 1 : 1 Rights Issue/Offer Price Malaysian Ringgit (MYR): 0.09
Siapa tahu tentang Waran yang ditawarkan. Apakah jenis waran, Tempoh Waran (Maturity Date), Berapa Exercise Price dan Berapa Conversion Ratio? Terima kasih.
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....
Joslang
76 posts
Posted by Joslang > 2019-10-04 09:51 | Report Abuse
Freddie.. sell all it down to 0.09 so I can collect some..