Excellent QR.

Also, the management themselves are
Major shareholders of Foremost Equal, so why would they overpay their fnb segment? That is akin to transferring money from left pocket to right pocket. Redundant move.

@Lee Wei Kang if they sold it at higher PE you sure minor shareholders won’t be bickering about management overpaying it? Haha..the fact is this is their business they have the all the right to decide, we’re just riding on their success

As long as they are not siphoning money at the expense of shareholders and doing shady stuff, I think we’re in good hands

I spent the weekend to analyze the rationale behind the FnB sale. So the fnb brings in approx 10mil net profit/year, so it’s currently sold for 60mil, that’s means it takes 6 years for fnb earn the amount if the earning sustains.

So 30mil is gonna be paid out as dividend. 21mil to buy raw material, and 9 mil to roll the plastic business.

I think it’s really not a bad idea to channel the money that it would otherwise take 6 years for the fnb business to earn to leverage on the low raw material price now, plastic earnings definitely will be >10mil/year.

This would increase their profit margin in future. Their net cash position puts them in really good position to diversify into property industry; which is a better industry to be in compared to fnb.

Take it for what it’s worth. Just my two cents.

应该把这季度的股息算进去将要卖掉f&b业务的7仙股息里了

业绩不好预了的，没有limit down就偷笑了。说实在这次业绩真的烂，主要也是外在因素导致。但我看是不会影响公司长期发展。

They’re cooked if they insist in disposing the f&b segment, in this quarter their f&b recorded higher earnings, it’s the plastic segment that drags down the overall earnings. We shall see in this coming Monday whether the continuous falling in the past few months has priced in this quarter earning. Overall I’m very utterly disappointed to this kind of QR.

Kenanga TP 2.58, looking at current share price of 1.41…what a joke

@Simon 赞同。

But I feel so baffled for a net cash company, NTA 2.38, no significant drop in earnings, pays dividend every year, almost always positive in operating cash flow- resorts to 4 consecutive years of share price drop lol