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RM250 mil written off old stock, then using RM83 mil to upgrade old machines and RM127 mil to pay short term borrowing. It means, company won’t be able to growth in near future. UNLESS, issue another PP, then dilute the market share.
Cheng-from the RM212 mil PP in 2021, by right these money should be use for Plant 3. Now, management diverted RM86mil to upgrade existing machines (OMG, new machines in 2021 almost lost the capability to produce high quality products and need to upgrade/convert to other product package). Worst thing, balance RM127mil use for repayment borrowing. Really bad in situation.
