coming report is going to be good.... USD has strengthen against MYR substantially. And BNM ruling has force companies to convert those forex into MYR.
May I ask since 2 additional plants were installed in April 2015, the plants are now running at what capacity ? Certainly, there are still a lot of room to ramp up the production capacity and increase the revenue.
Wao! Cash is 22 Sen per share! The book value of the 2 factories in Subang Hi Tech park as last revalued in 2013 also give per share of about 14sen..... A debt free company ...NTA 74sen!
What a feast when the co starts to turn profitable!
If the management can source more sales at reasonable price with marginal profit, this is going to be a star!
Hope all the sifu here can drop a few lines.... Thanks
The company has already been recapitalized. First did a 50% capital reduction to write off all the accumulated losses followed by a 2 for 1 rights issue at 55 sen a share after the hostile take over in 2012, followed by a private placement of 12.9mil shares at 60 Sen a share and later ESOS at 62 Sen per share, fully exercised and subscribed.
This clean slated Co now has 2 new production lines and extended floor space, debt free, with 20 years track records in the business and old customers and new vibrant management team.
The major shareholder now own 32.98% of the shares at the threshold of MGO....
Furthermore, if we look at the Cash Flow, the cash flow is positive. Last year though made only 1million plus, the cash flow is more than 6 millions due to depreciation charges....
Similarly last quarter made a loss of 200K, cash flow is positive more than 1 million....
There is no foreseeable capital expenditure required. The management just need to ramp up the sales with the additional plants capacity to turn the co to be profitable
But you came in here and comment means that you do have an interest in it! Many are trapped !I am interested in this type of share when no one interested as the fundamentals are solid! But the owners and major shareholders definitely are interested! By the way my cost is rock bottom! Will accumulate more.....haha! 08/02/2017 20:56
Ride with the major shareholders whose cost per share is at least 55sen.. limited downside now.... take care of the downside and the upside will take care of itself.... " Every dog has its day"! One day and I believe it won't be too long, the company will turn around with reasonable profits... The new major shareholders knows the company TOO WELL before he took a raid and made a hostile take over! :)
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....
shareinvestment7
702 posts
Posted by shareinvestment7 > 2016-10-27 23:58 | Report Abuse
No one interested in this stock