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Banle is an associate company of Straits..not a subsidiary..
the capital generated from Nasdaq IPO is directly manage by themselves..
And a small portion of their business profit goes to Straits
under maximum scenario..they going to spend about RM50mil in cargo oil..
My assumption,
A- existing money to buy cargo oil (been rolling over and over)
B- NYSE IPO money to buy cargo oil
Once, B injected..A going to cover for next buy..thus..selling of cargo oil from B will have very big profit..instead of rolling from A over and over..which makes the profit a peanut..
well currently their spin off seems completed / almost completed.. awaiting to be listed in Nasdaq..with the cash genereted from IPO..they can utilize it for operating expenses (which responsible for 99% deduction from their revenue)..i guess from that..they can lessen deduction in their revenue..which will in turn improve the profit margin..and if so..i dont know how sustainable this new cycle..if the injected cash will be continously rolled over for operating expenses..its a very good thing
from smart port into no port..
there must be politics involved..rationally nobody would easily let off this business..
Talking about non profitability..way better to dispose SAT
