Revenues 4mil per qtr n loss making. Smaller than mamak restaurant chain. At least mamak profit making. New low now. Half price rules. Rebounded to 2.40 came down to 1.20 n holding there for a while. Now coming down to new lower lows otw to 0.60. After sideways at 0.60 will go to 0.30. Someone needs to go to jail for manipulating this stock to 29.00. SC, bursa sleeping as usual.
Most people offhand will look down on their properties like food courts etc ... but in terms of cash flows and collections, they are probably better than owning a highrise with poor tenancy rates. Anyway, aside from its bashed down stock prices, I think many big time vultures may be circling to look at his list of properties, esp those in Penang & KL. In Perak, it's mostly in Sitiawan ... actually not too bad an investment if you can see the future of that town with the WCE opening up, just my opinion. These vultures will be looking to buy the properties, not the stock.
BUT if the stock price is pressed down hard enough, perhaps the whole company becomes the easier way to 'own' the properties. Whichever can takeover Rapid, can hive off the properties to cover the financial liabilities ... and may end up in a very positive position, with some pretty decent land, and can bulid Rapid into a more dynamic group with a focussed core business.
This is not just a hollow company like some of those virtual 'IT' companies and we see quite a few in this market itself. It does have some tangible assets. It's just a poorly managed company with their 'transactions' being called out by the auditors. Problem with family members being involved in the business. Market cap at current RM116mil can be considered quite supsupsuay (or peanuts) for some of the big players. But they will probably want to press down further so that the proposition becomes even more attractive, after factoring in the company's debt obligations. Buy the assets or buy the stock to own the company, then hive off the assets ... maybe this possibility will happen sometime soon?
Joke - For the Stock to drop from rm29 to 90sen the whole lot of directors must go behind bars - same like prawn rm30 per kg go down to 90sen must be fake prawn. So must be a fake company hahahaha
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Fklim888
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Posted by Fklim888 > 2024-02-19 09:46 | Report Abuse
rapid....started with good bet ?