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3rd quarter result just out. After looking thru it another abnormal loss stood out in others and adjustment about $6m loss in 3 mth total $16.5m in 9mths worst explanation given was turnover is insignificant BUT the loss is significant. People who invest in WTK is bcos it's cheap and give a dividend. Top management shld consider a MBO.
Finally the share price came down as expected bcos of abnormal behaviour of the company about $7.5 m in revenue lost within 2 mth when cpo prices jump more thn 30% it's production drop 30%. Bursa need to query the management. overall industry production didn't drop that much
The management need to explain why production drop drastically from August 5500tonnes 1500 tonnes almost 30%. Other Sarawak plantation company can report in the first week thier production figure comparatively thier production from August to October no big fluctuation.
The latest October production drop 30% from 2 months ago when cpo price up more than 30% from 2 mths ago despite other Sarawak plantation company report steady production figure. The management needs to explain why such big drop.
There is actually no controlling shareholder. Shareholder are very fragmented. The top management are not even the biggest shareholder. There is no loyal shareholder now. Hopefully tomorrow 1.30 can support.
