lets see how the sga is trending in the next 2 consecutive qtrs. And the due diligence exercise outcome on RPM group. A GO decision means there will be a need for funding. Failure to recover the receivables timely means there is a likelihood of pp fund raising. A pp fund raising will destroy/dilute the earnings; no longer attractive in my personal opinion.

No longer a surprise that it's loss making :) It's a question of whether a structural or temporary problem. Glad that the boss is reducing its stakes. Never a good idea for major shareholder to hold more than 50%. Wondering who will be the new substantial shareholder since it's a DBT.

Cautiously optimistic, hktee :) It is not about whether its a norm or abnormal/irregular but rather the accounting approach - aggressive or conservative, hktee. In this situation, it was conservative approach pre audit which led to actual audited numbers being higher and better. Aggressive approach tends to show higher numbers upfront only to see negative surprises later while conservative approach is the other way round; lower numbers upfront. After all, the ECL / impairment of trade receivables which is part of the sga is still the culprit. Topline positive growth but bottom line showing negative growth; due to the same sga culprit. It will take at least two more quarters to confirm whether its a structural problem with sga or temporary. Hopefully its temporary with the departure of the marketing officer.

Not expecting sga hit last quarter to be a structural problem, hktee. So, my expectation is that sga should be trending down for the next two quarters. After all, there is this statement in the annual report - Pursuant to the External Auditor’s review of the financial result of the year ended 31 December 2024, an allowance
for Expected Credit Loss (“ECL”) of RM29.2 million was advised, attributed mainly to one customer due to
delayed payment. To date, we have received payments in several tranches in accordance to their commitment
to make full payment for all outstanding receivables :)

you can compare the 2023 top30 shareholdings with the recent 2024 top30 shareholdings, hktee. Shareholdings in 2024 annual report is as of Mar/Apr 2025. while count of funds/insti dropped a few, average holdings per funds/insti have increased based on the details in there.

its possible, waller see. judging by last qtr results which was hit by 29mil ECL and as long as there is no repeat of ECL barring any unforeseen surprises from cogs / other impairments. nevertheless, no harm waiting for a few more days. After all, 1 bil market cap and aggregate of 20M for 3 to 5 fiscal years if the company intends to get into Main Board in the future. So, the upside is huge if the numbers in previous qtr are temporary and not structural.