This is how SAAG has been trading the past one year.
It's not too happening yes?
And its earnings is not too happening either.
Posted on 28 Feb 2011: SAAG's Earnings
Posted recently on May: Quick Look At SAAG's Earnings
And the company said itself had this interview on Star Biz: Turnaround unlikely for SAAG this year
- ... SAAG started making losses in its financial year ended Dec 31, 2009 (FY09) as revenue fell due to a loss of revenue from its workover rig services operation as well as provisions made for doubtful debts and bad debts. For FY10, the company saw revenue falling by 31% to RM110.6mil while it made a net loss of RM35.7mil compared with a net loss of RM9.5mil in 2009.
SAAG, which operates in a capital-intensive industry, posted a negative cash and cash equivalent for FY10 at RM7.5mil.
SAAG has also undertaken a private placement as of April which will see it raising some RM19.7mil from the issuance of 197.5 million new shares to address its immediate working capital requirements.
Today SAAG announced the pricing details of the said private placement... SAAG fixes placement share price at 10 sen
Now these buyers of these placement shares are extremely generous since SAAG closed today at 7.5 sen!