If the results like shiat, I advise the operator quickly goreng high high and dispose fast fast. Should take advantage of the good market now before too late !
Hahaha, WilfredChua open i3 account to comment only HHHCorp. Why ah? Ex staff or ex bf?
Anyway, thanks for warning about : Audited accounts deviation with Q4'17 results is 200%. The company incurred loss in Q4'17, due to impairment of assets not booked previously.
Recycled Petro Chemicals Product (RPCP) is increasing quarter by quarter
Q1 : 0 RPCP yet. Group intended to enhance product offering which generate better profit and profitability.
Q2 compare Q1 : new product - RPCP increased by 1.715M and charges of scheduled wasted collection service(SWCS) reduced by 1.12M. Margin increased from 32.72% to 33.65%. 32.32% or 1.715M of revenue from RPCP. Q2 : 0.42M revenue / 0.39M net profit from disposal of property/plant/equipment.
Q3 : 32.26% of revenue came from RPCP which gives higher yield profit margin. Profit stands at 34.39%. 1.835M from RPCP. Q3 compare Q2 : RPCP increased by 0.12M and SWCS increased by 0.59M. Profit margin increased to 36.47%.
Q4 compare Q3 : sales in recycled oil product increased 362% and RPCP increased by 104%. Profit margin dropped to 23.91% due to more sales from recycled oil product which is lower margin. ROP contributes 49.23% of revenue comparing 24.50% by Q3. 5.13m for ROP and 3.78M for RPCP on Q4. The group is intend to enhance its product offerings to oversea, expect to generate better sales and profitability.
Director foreseen RPCP will stands at 30-40% of total revenue for FY17.
On FY16, 80.51% revenue from Malaysia and 19.49% from oversea(Singapore 17.02%, Korea 2.47%), foreseen to boost up oversea revenue to 50% in few years. 0 revenue from oversea on FYE15.
As at 31 December 2016, the Group’s statements of financial position remained healthy with net assets of RM55.20 million or 16.56 sen per share. During FYE2016, the trade receivable turnover day has improved by 25 days and net gearing ratio has also decreased from 39.84% to 33.98%.
It was a bad scene at the meeting, where shareholders asks why has the profit not been improving. The directors came out with all sort of lame excuses and blame the economy and oil prices. They insist that they are trying hard on new product mix, but demand are still very low for recycled oil.
One shareholder asks how is Auto360.my related to HHHCorp. The director say Auto360.my is just a personal venture and not related to HHHCorp listed company. The shareholder say that HHHCorp official office staff are all wearing Auto360.my shirts, how can it be not related? Director say will look into the matter.
One shareholder was frustrated that he was advise to buy the IPO at RM0.20, and been suffering losses of 50% since IPO, he asks what are management plans. As usual, the director start talk cock, and many shareholder start to leave. Some angry shareholder throw and step on the annual report on the floor
The peak of the event was one shareholder ask why director Chow's brother - Chow How Hai, no qualification and work in Giordano as salesboy before joining HH as general manager, can be a general manager? The director start talk cock and give excuse that he is very qualified. One shareholder stood up with anger and say "THEN HIRE ME LA! I WORK IN PADINI BEFORE ALSO!"
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....
cikgutiew
48 posts
Posted by cikgutiew > 2017-04-20 17:35 | Report Abuse
OngLai88 . The ong will lai .