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Vaid
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Posting #31: Wed Jun 13th, 2007 13:48 |
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sammacho wrote: But based on financial analysis, i have 1 major concern that the compamy have Rm 336m receivable of more than 1 year debtors days!
In addition its borrowing at Rm 250m appear high compare to shareholder fund.
i want to now what debt that oilcorp has?
but in asset..oilcorp has 542mil....+current share value is 240mil=742mil
so?
tq
Just want to add... the total assets should exclude goodwill of RM68.7 million...which in personal opinion, not an asset as it simply that the company has paid more than the assets value in anticipation that there will be future earnings for this....which depends on how long and when...and anytime that this may be impaired if things does not turn out as expected (note 3(b)(i) of audited accounts 2006). Let's not forget, off balance sheet liabilities as well.
Also...the company only has cash of RM1.4 million only (fd of RM6.1 million is held as security for bank).
ahh..the capital commitment for the fisheries project is not mentioned(Note A13 of quarterly results). I wonder whether the company do make an investment appraisal before entering the agreement. If not, how come the Board do not know how much is the commitment?
Wah...still got another outlay of RM85 million in respect of acquisition in Town and Country Resort....which will dilute the EPS once completed. (Note 9 and 39 of audited accounts and note A13 of quarterly announcements).
With so much commitment ahead, i wonder where the Company will come out with the funds for such commitments...issue more shares with immediate dilution of EPS (all these are long term investments with foreseeable returns in future X years) or borrowings?
However, there were classic examples for companies which done share split to boost the liquidity of the shares eventhough the share prices are below RM2. Classic examples were YTL E-solutions, hovid, unico etc....
Last edited on Wed Jun 13th, 2007 16:22 by Vaid
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Moolah
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Posting #32: Thu Jun 14th, 2007 01:35 |
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My Dearest Vaid,
Extremely good points. Fundamentally, its beyond a shadow of a doubt that this company is simply lacking and that any1 who claims that they are a so-called fundamentalist should realise this issue.
Now having said that... strange stuff do happens in the stock market.
Sometimes even a cow can fly.
Cheers
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sammacho
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Posting #33: Thu Jun 14th, 2007 03:42 |
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if we talk that were is the money come from there were bank give borrowing to the company....all company have a big dept problm..but they dont say.coz,like tenaga,tm,and lot more...in this case..every dept that company take,they maust have a good plan.then they can generate money from the dept....
in future plan under properties by ssubsidary of oilcorp..they will build a five star hotel and a menara oilcorp at jalan istana near k.l sentrl.mix properties i klang..ekslusif banglow and seme-d in genting highland.....and a hotel at genting...so...if oilcorp make a big loan..there were a huge income for oilcorp...there were no problm on it coz ow properties and hotel in booming
me must see oilcorp when listing on 2003...their cash is lot of negative...slowly they make their way to increse thier asset, sales,profit cash flow.in 2003,their asset is 60mil,now is 400mil after-liablties.so...their were potetial with oilcorp berhad,,they can manage their company very well
tq
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Moolah
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Posting #34: Thu Jun 14th, 2007 03:56 |
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Hello Sammacho,
So do you admit that OilCorp is rather a poor company???
rgds
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sammacho
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Posting #35: Thu Jun 14th, 2007 04:17 |
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| oilcorp is not a poor company,,in futute there is a lot space to grow for oilcorp....
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Moolah
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Posting #36: Thu Jun 14th, 2007 04:36 |
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LOL!!!
Sorry I meant that OilCorp is a caompany with POOR fundamentals.
Oh let me repeat what I had said earlier.
- Fundamentally, its beyond a shadow of a doubt that this company is simply lacking and that any1 who claims that they are a so-called fundamentalist should realise this issue.
Now having said that... strange stuff do happens in the stock market.
Sometimes even a cow can fly.
Btw... stranglely.... if you look at the balance sheet... LOL!!!... OilCorp is certainly POOR!
rgds
Last edited on Thu Jun 14th, 2007 04:40 by Moolah
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sammacho
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Posting #37: Thu Jun 14th, 2007 08:07 |
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| we just see wat could happen
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Moolah
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Posting #38: Thu Jun 14th, 2007 08:20 |
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sammacho wrote: we just see wat could happen
Errr... Sammacho...
I am here to offer some opinion what I think about OilCorp as a company.
Fundamentally - it's poor. How difficult is it to see so?
It's 1 for 10 stock split for a stock trading at 1.30 is simply absurb. If the stock has real quality, there is no need to do such nonsensical corporate exercises.
Now comes the stock price performance.
Well I am not here to argue with you how OilCorp will do or what OilCorp will not do in the market.
Do understand that fully.
If it goes down, it goes down. And if does go up, then I fully congratulate you for picking and riding on a winner.
Ok mah?
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Moolah
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Posting #39: Thu Jun 14th, 2007 08:37 |
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sammacho wrote: we just see wat could happen
btw Sammacho...
just curious... why you buy this stock ah?
Surely... there are so many better stocks than this one. Yes?
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stockraider1
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Posting #40: Thu Jun 14th, 2007 11:34 |
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Sammacho,
This is an investment blog, what we are doing is arguing based on the fundamental merits of Oilcorp.
Although there are speculative and goreng element also adopted, but this is not a good sustainable way of making money from the stockmkt.
The public need to be educated the need a systematic approach to investment to reduce risk!
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