hi all, for this stock I guess the share price have bottomed out.

Myself my average price is 28, 29 cents like that.

Things to understand.
for the past few quarters, since they started their Indonesian expansion, MST golf net profit have been impacted by the net loss from their Indonesian operations.

Each quarters' losses is different, but let's just say on average it's -1.5 million.

The latest quarter 2nd Q 2025, their Indonesian losses have narrowed to around -150k?

The losses is due to initial startup cost and depreciation I believe. Based on this trend their Indonesian business should contribute to net profit by the 4th quarter of 2025.

Their Singapore business have been quite badly impacted as well, not much may change there in the short term, until one of their shops tenancy is up and they can close a shop to reduce cost. I think -1 or -2 shops should be optimal for their Sg business as they have oversaturated the customer base there already.

In Malaysia, they have a net reduction of 2 or 3 shops recently as well. So they are closing shops that do not perform anymore.

Other than this, their Thailand expansion didn't went as smooth also, and is potentially delayed until 2026. Even when they start their TH expansion, need to expect initial first few quarters to be loss making too.

Overall, there may not be too many near term catalyst for the stock, but if you're already with the shares, you may choose to wait.

One thing that's good about MST is their low # of issued shares. if net profit increase by few millions, the EPS and DPS will quickly increase to a high level.

Selling now and buying