这公司有>rm100million cash，拿来发展产业绰绰有余。卖掉fnb只是因为好赚他们私有化罢了。他们身为管理层应该半年前就已经看到今天fnb的业绩了的，既然那么转钱为什么还要坚持卖？是的，如果这个季度没有fnb，盈利基本就是对半折。但因为他们净资产高过股价很多，而且现在又分钱，应该会对股价有一定的支撑。至于能撑多久就不知道了。

Feel short changed if they insist selling fnb for 60mil now that we know the fnb is making up HALF the profit of plastic instead of their claim of 10%!

Did anyone attend the AGM? Did they say anything about the disposal of fnb?

In the profit before tax for this quarter, the fnb segment occupied half (rm7 mil) the profit than of plastic segment (rm14 mil). Which means if they succeeded in selling off the fnb segment, we’ll be looking at only 14m pre tax profit this quarter, we’re farked by the management for selling off such a profitable business. Ccb.

我就问问还没买的人，你现在敢买多少？哈哈。。买了重仓的人肯定拿得住。

真的是管理层的无动于衷感到失望和无助。今年AGM肯定中股东们吊

Excellent QR.

Also, the management themselves are
Major shareholders of Foremost Equal, so why would they overpay their fnb segment? That is akin to transferring money from left pocket to right pocket. Redundant move.

@Lee Wei Kang if they sold it at higher PE you sure minor shareholders won’t be bickering about management overpaying it? Haha..the fact is this is their business they have the all the right to decide, we’re just riding on their success

As long as they are not siphoning money at the expense of shareholders and doing shady stuff, I think we’re in good hands

I spent the weekend to analyze the rationale behind the FnB sale. So the fnb brings in approx 10mil net profit/year, so it’s currently sold for 60mil, that’s means it takes 6 years for fnb earn the amount if the earning sustains.

So 30mil is gonna be paid out as dividend. 21mil to buy raw material, and 9 mil to roll the plastic business.

I think it’s really not a bad idea to channel the money that it would otherwise take 6 years for the fnb business to earn to leverage on the low raw material price now, plastic earnings definitely will be >10mil/year.

This would increase their profit margin in future. Their net cash position puts them in really good position to diversify into property industry; which is a better industry to be in compared to fnb.

Take it for what it’s worth. Just my two cents.