Eventho todays pricing is dropping but the one positive news is..... there is someone is collecting behind the closet unlike the past dyas and i guess it should be the smart money is acting....
The Company is having total outstanding loans of RM355mil Vs Cash in hand of RM8.8mil as at 31 March 2019. The Company raises fund via private placement to fund working capital and pay back loan of RM9.83mil to Nova Scotia?
Private Placement in 2019 01 July 2019 (Listing Date): 5,000,000 @ 0.3350 = RM1,675,000 10 May 2019 (Listing Date) : 10,500,000 @ 0.3000 = RM3,150,000 29 April 2019 (Listing Date) : 8,800,000 @ 0.3210 = RM2,824,800 17 April 2019 (Listing Date) : 10,000,000 @ 0.3450 = RM3,450,000
After 4 private placement in 2019, LONBISC raised total of RM11,099,800. The new funds from private placement still not sufficient for LONBISC to service the bank loan and interest ?
Regardless of all the bad debts or any financial prb or whatsoever, but still hv to look at the fact that thre is / are someone is still accumulating its shares yesterday and today till this point of moment. thats what the important part of picking up a stock.... not just looking at its financial statements.....epslly for those short or mid term players.....
Take a look at KNM, who cares it has (minus) -43 ROE, -1.06 P/E, - 28 EPS, another example is FOCUS, with (minus) -7.28 ROE, - 0.15 on EPS and -144 on P/E.... their shares still went up over 100% over the past weeks. hahaha...
Wonder who those Investors that bought over their shares thru private placements? Those big Investors are not side road Businessmen. Will they not know the company LBB condition?
most of the Bankers will give rubbish TPs. They will test the market, once they give out the TP, they will catch there from you. Those who cannot HOLD will def sell.
LBB price today already factored in the debts issue.
A 63 cents dropped until now 30 cents already more than 100% discounted is fully reflected in the price today.
If the loan repayment are able to restructure, they can still turnaround the company.
NO worry lah, no big players r dumping this shares till to the moment. Some might try to de-grading it for further collection... thats how some smart monies do... No dumping means the price is going to stable down at least...
If nta is a valid figure, the management can just sell the company and give 50% to shareholders, all happy. Obviously the nta is always a misled figure whereas the outstanding borrowings and liabilities are at least the true figures. Anyway, volatility is always good for short term players. Good luck.
@TheContrarian, news already circulated on the indebtness of LONBIS since beginning March. How come you still buy when the company is already started private placement?
So, since you have made your profit, then best to stay a sideline ya.
thanks 12345. I just don't understand why there are ppl who like to give negative comments here. If you dont buy the LBB, move on. I don't go to ppl stock forum to give negative comments.
this is not a fundamentally strong counter thus must play according to trend, don't against the trend, if you want collect on weakness, go for those solid and good dividend yield counter
Daily8, if you scroll up the comments of this forum until 30th January this year, you will see my comment announcing that I sold off at 59 sen. This counter was the first this year to give me a gain of almost 25%. After I found out about the company's problems I stayed away and will continue to stay away.
Below are what the Company announced on 5th July 2019: -
1. After due deliberation with the management on the impact of the Notice of Demand from Bank of Nova Scotia Berhad (“BNSB”), the Company feels that this incident will put a strain on its short term cashflow position. Nonetheless, the Board and management will continue to actively engage with BNSB as well as all other lenders to minimise any further financial impact to the operations and business activities of the Company.
2. Since the Company is unable to meet BNSB’s repayment obligation in the immediate term, the Board is of the opinion that the Company may not be solvent.
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....
Daily8
3,858 posts
Posted by Daily8 > 2019-07-02 08:58 | Report Abuse
while some drunkers said it's going to be PN17, the buy volumes intensified in LBB