I thinks the future revenue - Advanced metering infrastructure (AMI) is under BCM Electronics, then, the directors are selling the company golden egg to Aurelis Holdings.
After disposal the BCM, the comcorp financial position will be :- Sims business - Net loss -(3.1m) base on 31.7.2017 green waste management and waste-to-energy businesses - nil Worth to buy?
look at the report.. they will realise one off gain of eps RM 0.55 cents per share and and their renewable energy are set to fully commission and start revenue on 4th quarter.
The Company is expected to realise a one-off gain on disposal of approximately RM76.3 million (after netting off Transaction Costs) arising from the Proposed Disposal based on the audited consolidated financial statements of Comcorp for the FYE 31 January 2017, this represents an EPS of approximately RM0.55 per Comcorp Share
Additionally, the Board also views the Proposed Disposal as an opportunity for the Company to reprioritises its business focus and resources into further growing its existing waste-toenergy business. Its maiden waste-to-energy 2 megawatt plant in Kuang (“Kuang IPP”) is expected to be fully commissioned and revenue generating in the fourth quarter of the financial year ending 31 January 2018. The Kuang IPP will provide a recurring income to the Comcorp Group. The Company also intends to venture into the green waste management business
October 20, 2017 @ 5:50pm KUALA LUMPUR: Comintel Corp Bhd is sellling its electronic manufacturing services unit BCM Electronics Corp Sdn Bhd, for RM123.8 million, to a company partly owned by its executive director Loh Hock Chiang.
Comintel, in its filing to Bursa Malaysia today, said BCM Electronics provides turnkey manufacturing services and this planned sale gives it an opportunity to unlock and realise the value of its investment in the unit.
By selling BCM Electronics Corp to Aurelius Holdings Sdn Bhd, Comintel said it stands to realise a one-off gain of RM76.3 million.
“Given the highly competitive and specialised nature of the EMS industry, there is limited leverage to further increase the competitive edge of the Comcorp Group in the EMS and EMS-related industries,” Comintel said.
BCM Electronics provides printed circuit board assembly, sub-system assembly and box build manufacturing services to original equipment manufacturers of telecommunication equipment, network equipment, tracking and monitoring devices, power solutions and telemetric products.
Comintel inked a conditional share sale agreement (SSA) with Aurelius, in which Loh and BCM Electronics chief executive officer Lee Chong Yeow @ Lee Chong Yan, each owns equal parts of Aurelius.
As at 31 July 2017, Comintel Group owes RM11.5 million to BCM Electronics. Following the sale, Comintel will see a net proceed of RM112.3 million.
Comintel plans to distribute most of the proceeds — tentatively 45 sen per share or RM63 million — as a special cash dividend to its shareholders.
The remainder will be used for Comintel’s green waste management and waste-to-energy businesses, working capital and to defray estimated expenses from the proposed sale.
I'm on board first time on this boat...50% discount by virtue of it's 45sen dividend payout for a 92 sen stock. More people will joinin the fray after the news is absorbed by market . Will crossed 1.10 Mark with ease next week!
Its maiden waste-to-energy 2 megawatt plant in Kuang (“Kuang IPP”) is expected to be fully commissioned and revenue generating in the fourth quarter of the financial year ending 31 January 2018. The Kuang IPP will provide a recurring income to the Comcorp Group
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....
VenFx
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Posted by VenFx > 2017-10-20 16:26 | Report Abuse
0.880 shall be its immediately support, a break away of 0.940 may test 1.00 again .