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Wow. Misinformation. Tesla’s $4.3 billion deal with LG Energy Solution (LGES) for battery supply, Batteries are exclusively for Tesla’s energy storage systems (e.g., Powerwall, Megapack), not EVs. Batteries will be manufactured at LGES’s Michigan factory, avoiding U.S. tariffs on Chinese imports. FYI.
Adama's view is purely speculative and his has no evidence to support his claim. Nafiz provided a link to an article and I agree with the article. Many local companies has their own ways to mitigate problems dealing with offshore clients. Tell us how a local company can check a state-owned companies their payment history? Also, how can local companies get their debt paid from offshore clients?
Enlighten us, please.. Adama & TK?
Nafiz, there is another part of your view that need to be told and be clear off. SFPTech declared big bad debt written off. Many company write-off their bad debt at the end of financial year. But this does'nt mean they cannot collect back. This also doesnt mean they dont want their money or their client is relief from their debt. Debt is debt. They will collect one way or another. We have many court for this e.g. arbitration court, international trade court and etc.
if they pay, payment will straight go into SFPTECH operating income. This will take time.
But as usual, market is overracting.
There are signs when a company is in trouble. They will start looking for loans and very often NOT from banks but from international creditors or local ah-longs e.g. cita realiti is one of them, Francis Leong and his gang among others.
When a company ask money from these people, very often the company will find ways to drive their share price down so that their creditors or ah-longs buy at cheap price. We have many companies like this in bursa e.g. Reach, Vinvest, BSLCorp name a few.
In their last QR, we see SFPTECH credit control were in place. They were no longer orders from China. And just recently, China government issued a directive to keep debt days within 60 days or pay their debt within 60 days.
SFPTECH price share drops suddenly probably because someone made a margin call. Let's see how it goes.
