Don't know if this one simply orang main-main that's why naik, or there are some actual improvement in fundamentals. I bought in 2 weeks back at RM0.57, will be holding long term until or unless I see the company has no hope.
Why does the announcement say this: "The Acquisition will not have any effect on the issued shares and the shareholding of the substantial shareholders of IJGB. The Acquisition is not expected to have any material effect on the earnings per share, net assets per share and gearing of IJGB Group for the financial year ending 31 December 2017."
The Company wishes to announce that Ikhmas Jaya Sdn. Bhd. (IJSB), a wholly owned subsidiary of IJGB had on 17 April 2017 entered into a Settlement Agreement (the Agreement) with D.J. Design & Suppliers Sdn Bhd (109264-A) (Employer/Debtor) and Solid Promenade Sdn. Bhd. (649150-A) (the Proprietor) in respect of the settlement of the amount due by the Debtor to IJSB (the Contractor/Creditor) (as at 31 December 2016) amounting to RM75,000,000 (Liabilities).
The settlement of the Liabilities will be made partly in cash for an amount of RM28,746,000.00 and in kind by a transfer of equivalent of 30,836 square feet service apartments units in Damai 88 (“Contra Units”) valued at RM1,500.00 per square foot for an amount of RM46,254,000.00 (the Transaction).
Another thing...any reason the announcement states "the settlement of the LIABILITIES..."? Why liabilities? Is this not something like a trade receivable, which is an asset?
This is third win of the year right? They started slow a bit, possibly due to the delayed backlog from last year. Hope this gets the ball rolling now! I queued to sell at RM0.685...thankfully I can cancel it a while now.
No issue, profit taking, yesterday very high run up. Now I'm in two minds. Should I keep or sell? Seems expensive, but there is such a large potential for rise in earnings given last year's very low base.
Also, got my annual report today. My first ever annual report! :)
Damn man, dodged a bully there! I managed to come in 0.57, out at 0.74. Phew. Something just didn't feel right. What's wrong with this company? Pintaras and Econpile are reporting stellar earnings.
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....
aidwiz
356 posts
Posted by aidwiz > 2017-03-13 13:11 | Report Abuse
i wonder what happened. funny this counter up so sudden. haha.