The forthcoming Annual Report 2014 due to be out in early March 2015 is going to be interesting especially in the 30 largest shareholders listing page. It may potentially reveal a few new major shareholders with sub 5% shareholding (4.00% to 4.99%).
I think the reason is HUBLINE need to regroup and the takeover the major shareholder who can make a different way and bring HUBLINE to top since there are not any big change in this counter till now . Anyway, waiting for good news.
Those selling at 4sen(because impatient cannot rise) to chase other flying stocks is not smart. 4sen is still very cheap compare to NTA 13sen. If Hubline can sell its assets at slightly below book value we can get at least 10sen.
1) Hubline has Huge Borrowings - Over RM200 Millions
2) It has only RM10 millions in cash
3) Its NTA is 13 cents.
A closer examination shows that it has 2 pieces of properties in East Malaysia. One is vacant. And another most probably its ship yard. Total Net Asset Value About RM15 Millions
What are the other NTA? If seaworthy ships. How much? If not, what will be its scrap value?
There is a great possibility that Hubline might fall into Insolvency in spite of its projected High NTA.
MaeMode gone bankrupt with High NTA.
High NTA is only Worth So Much If Things Can Be Sold in Market. Old Machinery & Old Ships will be of little worth.
No wonder Directors & Insiders Are All Jumping Ship
On 31 Oct 2014 Richard Wee Liang Chiat had sold 7,450,000 shares and his remaining shareholding as at to date would be 300,000 shares (0.01%). Some of the forum members here may even own more shares than him.
On 12 and 16 Jun 2014 Christine Lau Swee Eng (Former Non-Independent Non-Executive Director) had sold 51,598,000 shares and the remaining combined shareholding of her related family members as at to date would be 33,857,716 shares (1.04%) consisting of Christine Lau Swee Eng 2,884,316 shares (0.09%), her husband Dennis Ling Li Kuang 22,250,000 shares (0.69%) and her son Bernard Ling Ing Tah 8,723,400 shares (0.27%).
As at to date Richard Wee Liang Chiat (Non-Independent Non-Executive Director) and 3 members from the Ling family namely Dennis Ling Li Kuang (Chief Executive Officer/Managing Director), his daughter Katrina Ling Shiek Ngee (Executive Director) and his daughter in law Jem Magnaye (Non-Independent Non-Executive Director) are still holding on to the directorship of the company.
For the Financial Year Ended 30 Sep 2013, the total directors' remuneration, fees, salaries and other emoluments paid to executive directors and non-executive directors were RM 2,873,223 and RM 197,000 respectively.
For the Financial Year Ended 30 Sep 2014, the total directors' remuneration, fees, salaries and other emoluments paid to executive directors and non-executive directors will only be reported in the forthcoming Annual Report 2014.
Is it an ethical practice for the 4 directors to hold on to the directorship of the company and continue to draw directors' remuneration or should they just do the honourable thing.
i one of them and you,uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu you,u,u,uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuand u
It is useless for small fish to buy because you can buy only seller's price and sell at buyer's price with large q at buyers and seller's price.It will be only donation to the big timers at the price difference between buyers and sellers.Sure to lose.
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....
George99
259 posts
Posted by George99 > 2015-01-13 13:16 | Report Abuse
No announcement yet? ? ?