1. 3Q2012 Revenue down 41% YoY to RM8.77m, net loss of RM1.02m (vs. RM0.60m made in 3Q2011).
This is possibly due to losses in property development segment. In 9M2012 segmental result, property development segment registered net loss of RM1.07m while plastic manufacturing profit is RM0.20m.
2. Trading above Book Value at 1.09x Price To Book. Latest Book Value 26.68sen. With share price close at 29 sen yesterday.
3. My view: With the losses, the announcement still saying "Barring any unforeseen circumstances, the Board expects the financial performance for the remaining periods to be satisfactory". How can it be "satisfactory"?