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No dividend from 2007 till 2012, again, after one-off dividend in 2012, nothing afterward.
From SGX : The Board of Directors of Fung Choi Media Group Limited (“the Company”) wishes to announce the resignation of Mr Wang Xiao Dong, Independent Director of the Company, with effect from 19 July 2014. Consequent to Mr Wang’s resignation as Independent Director of the Company, he will cease as Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee respectively
Supply Chain is the main source of revenue, 78%. What is supply chain for them? Procurement and sourcing of products such as packaging boxes and various types of accessories for digital products and electrical equipment, basically put things in boxes for their clients, my guess is that this is a very low margin business.
Cash is burning, From 581.422 million last year to 322 million now.
I would stay well clear of this.
Disclaimer :-
I am not an investment professional.
I encourage you to do your own independent "due diligence" on any idea that I write about, because I could be and probably am wrong.
Nothing written here is an invitation to buy or sell any particular stock.
At most, I am handing out an educated guess as to what the markets may do.
The market will always find a new way to make a fool out of me (and maybe, even you!).
Even the best strategies of the past fail, sometimes spectacularly, when you least expect it.
I am not immune to that, so please understand that any past success of mine will probably be followed by failures
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I would note that the new F&N representative on Fung Choi's board is quite a skilled financial person who shot to fame because of the deal he brokered for HTL intl
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Its interesting to note that Morph Investments is also a Top 20 Shareholder of this company
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a few years ago, I have doubts on the balance sheet when they run into some problems when the convertible bonds came due. Share price was like 14 cents then if I remember correctly. Now it is 8.7 cents....and I still have my doubts ^^.
Have fun
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Not a buy for me. Sometimes when a deal is too good to be true, it is probably not true.
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Anybody remembers CHT holdings? It was condemned as an S CHIP and was trading at 50% discount to book value before being the subject of a takeover offer
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Many of our valuebuddies made a right judgement.
I guess Mr. Market is more likely to be right than wrong this time. Fung Choi down 11.3%.
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Is F&N wrong? Are they going to lose their entire investment in Fung Choi?
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