MULTIPLE PROPOSALS G3 GLOBAL BERHAD ("G3 GLOBAL" OR "COMPANY") (I) PROPOSED DIVERSIFICATION; AND (II) PROPOSED PRIVATE PLACEMENT (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Any sifu can give your valuable comment to this announcement?
-Since 2021 December a big chunk of shares disposed by CC Puan, left the company ever since then
-Share price spike as new shareholder Dato’ Sri Aminul Islam Bin Abdul Nor emerges and controls 25% stake
-Just joined, shares are distributed to retail investors and not focused yet
-He is also the founder and chairman for Bestinet Sdn Bhd
-Revenue USD 23 – 24 million, equivalent to MYR 97 million
-Similar business model and capability as S5, based on 2017 audited account is 60% profit after tax margin
-Possible grew to MYR 60 million PAT per year
-Injection of 10% = RM 6 million, P/E valuation is 32.5 based on 195 million market capitalization
-Unsure of how big Bestinet Healthcare is, but currently have 2 million test kit on hand for now, RM 6 each = RM 12 million in revenue, and 15% net margin based on test kit peers = 1.8 million PAT
-Company also go for kitchen sinking exercise to remove liabilities with regards to Green Packet after CC Puan exited
-Moving forward no relations with Green Packet
-Dato’ Sri Aminul Islam had good relationship with government, potentially to register contract wins
-Diversification into healthcare is actually for Bestinet, 2022 will turn black
Still need sometime , not sure is a good timing to collect. But a good news for everyone.
G3 is anytime to turn back, good reflation with government is one of the key to making G3 come back. Even puan throw ticket. Just a small drop. Matter of time to come back only.
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....
bulldog
12,157 posts
Posted by bulldog > 2022-02-03 12:56 | Report Abuse
Angpow in the making
Huat chaiii