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Dividend of 20 to 21 sen to be distributed within 2024-2025.
This is based on:
Proposed Reduction of the Issued Share Capital of the Company of RM500 million pursuant to Section 117 of the Act ("Proposed Capital Reduction")
Ewint total no of share: 2400mil
Reduction of RM500mil in share capital, means reduction of RM500/2400 = RM0.208 per share.
for this round 143/2400= 6 sen dividend should be declared after AGM next Monday.
1.56B assets with almost zero liabilities. NTA at 31/1/24 is 0.65. Big chunk comes from amount owing by JV - 910K + liquid asset in the form of cash - 211K = 1.12B. Its worth abt 1.1B or 0.45 per share if assets recovery say at 70% of 1.56B. Is better if recovery rate can go higher. Bought earlier at 0.40 and received 0.39 dividend till date. Not sure how the operators playing with the share price but I will just keep it at least after another 0.21 per share dividend is paid in 2024 and 2025. It seems no future plan for the business of the company. Maybe after that major shareholders will initiate a takeover on the company based on the net worth of the company. Those walk along with the company since IPO are the most badly hit and those came in later at lower price are on upper side beneficial.
