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Orders from China dropped significantly due to probably credit control since the COMPANY have to write-off considerably big amount they owed. This also means SFPTech dealt with one intermediary company based in China. This doesnt mean there is no business in China. Its just like any other companies, they need to meet stringent orders before taking new orders from oversea. The company will launch new initiative to get back orders they previously enjoyed.
We will see this in next quarter or two.
Ppl buy expensive & luxury cars b'cos of prestige and comfort among other things. You will be amazed what Chinese ppl can afford over there. They owned high end superbikes e.g. Ducati, BMW. You can see there for yourself. And they only wear slippers.
Sorry for jumping into this discussion like this.
USD/CNH is getting stronger. This makes its attractive to buy stuffs in China.
MYR/CNH is getting weaker. This makes if you bring back money from China and convert to MYR, you will get more.
AUD/MYR is trading at 2.71 - 2.83. It has stabilized since last steep fall at the end of December last year.
SGDMYR is trading at the same range. No big change there.
SIME sells premium and luxury cars in China. They are currently asking for some rebate from China government.
Mining equipment, rentals and spare part sales in South Australia might show more better profit in next quarter. Its going to be autumn season there this time of year. During summer there, there is heavy rain, flood and also bush fires in that part of area. I guess thats why this effects SIME sales and profit.
Something is not right with this fella. He claimed he sold 50k units bought during IPO at a price of 1.13MYR. He sold at 1.25MYR. That's 12sen profit each. His total profit should be around MYR6,000. BUT he mentioned he already made his exit and profited MYR10k.
Zam didnt get what he wants. At first he thought EcoShop can go LU. Then afew hours later, he changed his mind up to 1.6. Then his changed again a few hours later to 1.5. If he profited MYR10K. Good for him. But he is missing a lot of thing here. How some of us pros make money consistently and never cut loss.
