Telltale signs of fraud in audited financial statements! Stay far far away from this conman shares. Down the road, this company will be delisted! Save yourself!
Dont worry !! Trust next week it will drop back to 11 sen if not worse!! Sense that something fishy about this management and their reporting... but again, who am anyone to judge them except for the law maker!!
The past few weeks with most of their directors are disposing the share already signal a big red flag!! Now a sudden drop of profitability is pretty obvious that something is really not right!! Who remember CSL? not mistaken, CSL owner took company $$ and gone missing ... Hope that this is not the case for this JB company!!
It is unlikely that various authorities will take effective actions. Beautiful laws, inefficient and ineffective outcomes. That encourage many major SH, bod and management to take minimum risks for their own interests. Believe bankers and suppliers are crying now. Warned when the price is above 60. Good luck if speculate play pushes up the price.
It seems that BoD already knew the company health for the last several years. Only now, the event exploded when the situation already uncontrolled. There are many companies like this in Bursa. So, be careful.
Believe those enter now are meant for trading only as this company got close to zero hope. NTA will down further and no one is able to resolve the excessive loans, just to serve the interest is killing. The only better solution is for banks to convert loans to equity and then all die slowly instead of immediately in this sinking boat.
London Biscuits (LBB) announced that it received Writ of Summons and Statement of Claim from Malaysian Trustees Berhad (MTB), Alliance Bank Malaysia Berhad (ABMB) and Bangkok Bank Berhad (BBB). We are concerned as the financial facilities granted cannot be utilized further for working capital purposes, putting additional strain on LBB’s tight liquidity position of 0.9x net gearing. Furthermore, it is particularly alarming as LBB had previously defaulted on a loan of RM9.8m from Bank of Nova Scotia on 3rd July which caused the company to slip into PN17. The company is currently seeking solicitor’s advice on the necessary course of action. We opine that the company could monetize some of its assets to raise fresh capital. As at 30 June 2019, LBB’s net assets stood at RM1.28 per share. Overall, any revitalization plan to uplift LBB from its PN17 status will be made tougher in light of this latest development. We retain our TP of RM0.12 and Trading Sell call.
Bangkok Bank Berhad. BBB claimed a total judgement sum of RM64.2m under several different banking facilities (Overdraft Facility, Term Loan 1, Term Loan 2, Revolving Loan Facility and Combines Trade Facilites) along with continuing interest calculated on monthly rest until the date of full settlement. Alliance Bank Malaysia Berhad. ABMB claimed a total judgement sum of RM7.9m under several different banking facilities (Overdraft Facility, Term Loan Facility, Omnibus Trade Line Facility and Visa Infinite Business Card Facility) along with continuing interest calculated on daily rest until the date of full settlement. Malaysian Trustees Berhad. MTB claimed a total of RM96.7m together with interest which shall accrued daily and calculated monthly. Source: PublicInvest Research - 18 Sept 2019
Selling tin kosong biscuit to shelf kompeni and write off as full tin biscuit la. Has been getting away for years d. Now run out of cash, no choice have to walk naked and reveal all.
Lonbisc is a well known brand. This company sure has takers since its production line is still ongoing. Sometimes, investors buy the whole business in a RTO simply because of its brand name is very famous.
Yes, Qbb99 you are right! This lonbisc is indeed very famous! Surely a white Knight will come along and take control of the management. The debts are peanuts and small when you compare the consistent profit for every Qtr except the last one.
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....
kk101
53 posts
Posted by kk101 > 2019-08-30 21:55 | Report Abuse
Why quater result drop so much?