(Kuala Lumpur 23 hearing) shares Tuesday experienced dramatic decreases in international communications (COMCORP, 7195, shares of industrial motherboard) said that the future will not rule out if necessary through share buybacks, stock value and dimension to protect the interests of shareholders.
International Communication Tuesday (21 May) shares drop sharply Pro Last 20 minutes throughout the day fell 28.88 percent, or 27 cents, to close at 66.5 cents, and received unusual trading activity on Bursa Malaysia issued (UMA) inquiry.
Guoqiang said the company's position has always been the last resort, it would not interfere shares; however, he also said that if necessary, will be careful to use this tool in the future to protect the interests of shareholders and shares.
The company in general meeting today on the shareholders authorized again be paid no more than 10% of the capital stock repurchase.
However, international communications director manager Lin Jingfu told the media after the meeting, on Tuesday, the stock price fell too fast, so that the company's management by surprise, unable to take any countermeasures. At the same time, he also reiterated that the reasons for the sharp decline in the stock of knowledge, major shareholders did not sell shares, they will continue to investigate and understand the reasons therefor.
Most international communications for overseas business, as of fiscal year 2016 (January 31 closing), North America accounted for 80% of manufacturing turnover in the Asia-Pacific region accounted for 15%, while Europe accounted for 5%.
According to the minority shareholders said the impact of exchange rate management for representation at the shareholders meeting, the company has a natural hedge, but also will cooperate with banks to monitor changes in exchange rates.
On the other hand, international communications are involved in new areas of green energy, at this stage is applying for a permanent license.
At the same time, under competitive environment, Lin Jingfu said the company will focus more on consumption, such as the development of light-emitting diode (LED) business.
The company intends to launch in the near future a new type of energy saving and durable LED lamps. Lin Jingfu noted that the main target customers for the new building, if the base operating 24 hours a day to calculate, the company developed the new lamp can be maintained 5.7 years.
In addition, the existing international communications is to create a business for automotive and insurance used in the field, the speed detector, the products are mainly for export markets. However, with the National Bank of the gradual relaxation of restrictions auto insurance premiums, he believes the future of this product may be sold in Malaysia.
However, he also admitted that the economic slowdown this year, more challenging environment, coupled with the buyer to reduce overhead, the order is expected to decline.
International Communication stock today continued hot, but has stabilized back to Yang, Bi Shibao 0.73 ringgit, up 6.5 cents, or 9.77%, turnover up to 2339 million, is the fifth favorite stocks.
Calvintaneng,your rude and crude behaviour is unacceptable,what is your motive of coming here to badmouth a budding co.I was told in S'pore about 120 companies have fraudulent a/cs,why don't you go there to make noise as they have evidences but this co you cannot prove anything pls shut-up.I think co should report to sc to check on his slandering remark.
Posted by Fam Jenny > Jun 23, 2016 10:21 PM | Report Abuse
Calvintaneng,your rude and crude behaviour is unacceptable,what is your motive of coming here to badmouth a budding co.I was told in S'pore about 120 companies have fraudulent a/cs,why don't you go there to make noise as they have evidences but this co you cannot prove anything pls shut-up.I think co should report to sc to check on his slandering remark.
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Lau012
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Posted by Lau012 > 2016-06-23 20:21 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5131345