no need to worry, after receiving 47 sen per share cash in January, Salcon have indicated for capital repayment, Eddy Leong (ex-director of Sp Setia) is the executive director of both Salcon and EcoWorld
Since Focal has gone up so much, I think it is not worth the risk to buy into that stock. EWDH will be conducting a due diligence on Focal's books and anything can happen. Remember the Naza group's proposed acquisition of Kumpulan Jetson? So, it is safer to wait for the deal to be consummated.
Salcon may be a safer stock to consider even though it is the "rejected bride". It has disposed off its water assets in China for RM518.3 million (here). There is a potential for a special dividend. In addition, it is getting into property development game with Eddie Leong, an associate of Liew, probably leading the team. All in all, Salcon is a cheaper & smaller version of Focal.
salcon jv with focal does not means it is a smaller version of focal, that jv only focus on a piece of land. funny thing is, there is NOT YET any legal contract agreement formally signed. watchout on this, salcon since the announcement of JV and sales of water asset, the directors start disposing shares. u can be screwed big time should salcon again "con" on the JV agreement.
for focal at least read the takeover note in bursa announcement, don't simply tembak, the deal is almost done already :D
Directors only sell warrants mar, see inari? Before inari reach rm1.13 today closing price, directors also selling when mother share is around 80cents! Salcon director only sell warrants since the convertion price is too high. They didnt sell any mother share like inari directors, that why inari now flying!
They will keep the money to seek better opportunities elsewhere . No where they ever mentioned to distribute to all the shareholders either by capital reduction ,special dividen or bonus issue?
the selling is overdone, after china deal, co will have close to 300m cash and 8m plus borrowing only, the 140m plus GDV property 60% sold, will start to recognise revenue next year
i have to agree with longterm. No co is a gone case with few hundred nillion cash in the account? can anyone tell me one co ? Alomist zero gearing, which mean they can easily gear up to acquire good assets.. easlily to get 1b funding plus cash in hand...
any future news from salcon will only be acqusition.. which will surely provide a catalyst to move the price? there will be no more bad news/surprises where the co just dispose their main assets.. no more borrowing hence no more liability... put yourself in the same situtaion, u fully repay ur house/car/debt etc... any news after that will be noting but a good one??? i believe so!
The RM518.3m (much more than Salcon current mkt cap 400m plus) China deal reduce Salcon debt by RM234.3, grab RM284m cash PLUS RM123m cash as at latest quarter
Swong76! A stupid fool once said, stay hungry stay foolish! He became a legend for leaving half eaten apple! Stay invested in Hibiscus or Salcon! Wait for big fortune!
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....
sephiroth
14,143 posts
Posted by sephiroth > 2013-10-07 18:36 | Report Abuse
no need to worry, after receiving 47 sen per share cash in January, Salcon have indicated for capital repayment, Eddy Leong (ex-director of Sp Setia) is the executive director of both Salcon and EcoWorld