expired warrant, litigation issues by CF over loan causes share price to drop all time low, however recent movement in price recovered to its fair value suggest there might be +ve development ongoing
Dear BIGAPETITE, Sorry for the late reply as I only have time during the off office hour. Below is the latest update: I am still waiting for the reply from the relevant parties for my below email. So far I only received one reply from Mr. Angus Kwan: “I got no comments for Mr. Chan Fung is selling his own shares. Which is his own decision.”
Dear all, I just received the CSL AGM minutes as per attachment: I would like to highlight the below: And my further question in Brown. On Dividend: (V)Is the management cum major shareholder not looking into the interest of minority shareholders to reward them with dividends? Reply: Mr. Chin Replied in the negative. (X)Since the company does not have any formal dividends policy, should the Company adopt one? Reply: Mr. Chan replied in the positive and would discuss the said matter at the board of Directors’ meeting. (XVIII) Would the Company share its wealth with the minority shareholders by giving meaningful dividends? Mr. Lee added the share price would be pushed up to RM0.15 if the company declared an interim dividend at RM0.05 later. Reply: Mr. Chan responded that the Board of Directors would take his suggestion into consideration. (XXV)With reference to page 97 of the Annual Report2016, it was stated that “the group actively and regularly reviews and manages its capital structure to ensure optimal capital structure and shareholders return, taking into consideration the future capital requirements and the group and capital efficiency: Why does the Company not distribute any dividends? Reply: Mr. Chan replied that the Board of Directors would Take Mr. Lee’s suggestion into consideration. Mr. Herman promised that he would bring this issue for discussion and deliberation at the forthcoming Board of Directors’ meeting tentatively to be held in August 2017. My question to Mr. Chan, Mr. Chin and Mr. Herman, Had the BOD meeting on 18th August discuss on dividend issue and since Chairman, CFO and independent director give a very strong indication that dividend is forthcoming why it is not implement?
On Advertisement Expense: (XXV)Did any member of the Board of Directors express concern about spending such a large sum on advertisement? Reply: Mr. Herman replied in the positive and said the Board of Directors wanted to see results to ascertain that they were worth the advertisement expenses. (i)Would this advertisement expense be a one-off expense or recurrent expenses? Reply: Mr. Chan replied that advertisement expenses were necessary to raise customers” awareness of the Company’s and to build up the brand name of the Company’s products. Notwithstanding that majority of the shareholders were of the view that the company should not incur any advertisement expense in 2017. My question to Bp. Herman did company spend another huge sum on advertisement during Q2? Have you ascertain that this huge advertisement expense is worthy?
On Chairman Mr. Chan selling off his share holding: (XXVI)What was the reason for selling off his shares and what was the price he sold last time? Reply: Mr. Chan replied the share was sold to a potential investor based on the market price. However, the company could not restrain the potential investor to buy or sell the share later. My question: Chairman Chan further sell down another 80,400,000 CSL share at RM 0.07 (A fraction of cash and bank balance company holding) on 20 June 2017. Can Mr. Angus Kwan Chun Jut please answer this question on behalf of your father?
With nearly RMB1.8'billion i.e. Ringgit 1.2billion in Balance Sheet, CSL should be worth to buy at this price with good upside potential,,,,,and the ED says the litigation is personal and should not involve CSL,,.
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pretty_life
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Posted by pretty_life > 2017-09-06 10:48 | Report Abuse
0.08 again