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Annica Holdings

Annica Holdings

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Triple70 Offline
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#1
20-10-2015, 10:05 AM (This post was last modified: 20-10-2015, 12:20 PM by cyclone.)
Anyone any thoughts about this counter being a value play?

Share price trading below NTA.
Recently depressed due to low oil price and exposure to Malaysia issues?
NETT debt is manageable.
Also very attractive as a RTO target due to large % in public hands?

Anyone keen too? Or am I missing something in my analysis?
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CityFarmer Offline
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#2
20-10-2015, 10:26 AM
A quick glance at the company fundamentals.

- The company has been in losses in the last 6 years, except in 2012. I reckon, the "depressed" isn't due to low oil and Malaysia issues, which happened much later.
- Negative OCF, for the last 6 years. I reckon the profit in 2012, may due to non-cash item(s).
- No dividend so far, which is obvious, with its poor cash generation

As for the RTO, I really doubt so, with the current market sentiment.

I don't see any value of it, by the brief analysis.
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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Triple70 Offline
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#3
20-10-2015, 11:15 AM
(20-10-2015, 10:26 AM)CityFarmer Wrote: A quick glance at the company fundamentals.

- The company has been in losses in the last 6 years, except in 2012. I reckon, the "depressed" isn't due to low oil and Malaysia issues, which happened much later.
- Negative OCF, for the last 6 years. I reckon the profit in 2012, may due to non-cash item(s).
- No dividend so far, which is obvious, with its poor cash generation

As for the RTO, I really doubt so, with the current market sentiment.

I don't see any value of it, by the brief analysis.

The controlling shareholder has less than 10% shares of 1.3Bil shares?
As a takeover target.. at today's prices ($0.004).. it wouldn't take a lot of cash to gain control of a listed entity?

Perhaps maybe buying into a problem, but still for a RTO target, this looks really affordable?
I think another counter which is equally interesting from this POV is ITE Electric, but the shares are so thinly traded.
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greengiraffe Offline
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#4
20-10-2015, 01:38 PM
This co is part of the pile of crab resulting from the fallout of the cobwebs of the Msia trio...

It remains a joke that SGX and others are still investigating the crash without any outcome for over 24 months... or perhaps there are some outcomes that are too sensitive to be revealed...

Uncle Soh is the man behind the entire episode according to The Edge Msia...

NB: Blumont is current $0.003/4 vs the dizzy heights in excess of $2 at the peak of the entire saga that has featured Asiasons (Now renamed dunno wat) and Lion Gold...

High Five anyone?
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Yoyo Offline
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#5
20-10-2015, 09:19 PM
Dec 10, 2012 - Asiasons unveils new name as ISR Capital

According to a release, SGX-listed Asiasons WFG Financial Ltd announced that it has officially changed its name to ISR Capital Limited.

For your information.
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greengiraffe Offline
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#6
20-10-2015, 09:30 PM
(20-10-2015, 09:19 PM)Yoyo Wrote: Dec 10, 2012 - Asiasons unveils new name as ISR Capital

According to a release, SGX-listed Asiasons WFG Financial Ltd announced that it has officially changed its name to ISR Capital Limited.

For your information.

I think you got mixed up buddy...

They changed to some girlish name...
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greengiraffe Offline
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#7
20-10-2015, 09:33 PM (This post was last modified: 21-10-2015, 10:01 AM by CityFarmer.)
(20-10-2015, 09:30 PM)greengiraffe Wrote:
(20-10-2015, 09:19 PM)Yoyo Wrote: Dec 10, 2012 - Asiasons unveils new name as ISR Capital

According to a release, SGX-listed Asiasons WFG Financial Ltd announced that it has officially changed its name to ISR Capital Limited.

For your information.

I think you got mixed up buddy...

They changed to some girlish name...
Wah Lxx... they changed from Integra2000 to Asiason to Attilan...
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Yoyo Offline
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#8
20-10-2015, 10:21 PM
Hi GG

You are right. Thanks for the correction. Paiseh.
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greengiraffe Offline
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#9
20-10-2015, 11:27 PM
(20-10-2015, 10:21 PM)Yoyo Wrote: Hi GG

You are right.  Thanks for the correction.  Paiseh.

No worries...

I just happened to be in Integra2000 before the Msians took over and even mgt to sell off the odd lots at reasonably good price around 90 b4 it shot up to near $3.

Post collapse my punt around 0.20 paid off 50% after almost a month on the hooks b4 it rotted to this miserable levels.

Quite typical of Msian syndicate operations.

Odd Lots Vested
Attilan
GG
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Triple70 Offline
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#10
21-10-2015, 08:33 AM
Yep.. this is one of the cousins of the 3 penny stocks that got into trouble.
The current depressed share price could be a result of that saga.

Does this present a takeover opportunity, something that hedge funds would be looking out for?
Based on my analysis, I believe so, but I would like to hear other views in case my analysis is fundamentally flawed?
Started to take positions, but wondering if should increase more?
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