will go down to 0.45. And after q result out, will down to 0.40. con counter. Dont be fooled by company buying back scheme.Operators (aka syndicate) laughing to the bank everyday. wakaka
someone analyse on salcon 1. Fundamental - salcon sales was below my expectation of only 18 million compare to previous same quarter of 22 million. However, their gross margin increase from 19.6% to 23.1%. 2. Analysis - the recent losses was due to huge administrative expenses of 13.2 million which is a 127% increase in their expenses. This is due to impairment of goodwill of 6.24 million and incur one time off higher expenses within the trading and services division and venture into their new business. If we were to take away the 6.24 million and add back it will gives them around 10 million profit including profit from associate company. I suspect there is a delay in their vp of selayang property project which causes lower recognition of their sales. And the group clearly state it expects positive result from this quarter to continue. That's why their property division still showing a loss of 1.90 million. One thing for sure is they have reduce their cash level around 48 million to repay borrowings as well as expansion (9.4 million expansion on ppe and investment). If we take away this 48 million they still have 167 million which is 0.25 cents cash per share. At current share price more than half their share price is finance by cash.
Probably can hold until we see their next quarter result which I believes will be better. The management is giving the confidence that their next quarter will be positive as well.
I estimate if they can turnaround next quarter with recognition of their sales and adding back one time expenses and goodwill, they should show better results than previous quarter. Hopefully.
cash level at myr167million is a plus point as long as NO right issue amid rising interest cost next year. their debts deduction to save interest cost is accurate to strengthen its balance sheet before the expected rising interest next yr. I'm still holding tight this co. may top up further during pull back
they are pushing it down to collect it later. those that see in details the quarter report (of course many like trippleZ, don't read quarterly result won't know), that their next quarter will be better. read and analyse before judging.
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....
keyin
2,150 posts
Posted by keyin > 2017-11-16 17:08 | Report Abuse
Index correction now