I Screwed UP My Earlier KNM Posting

Monday, October 10, 2011

I Screwed UP My Earlier KNM Posting

Arrrghh....

I screwed up.

:P

KNM - Would Poor Corporate Governance Have A Negative Impact On The Stock?

That posting have one MASSIVE flaw.

What happened? Well, I relied on the little bells provided by RHB charting. I did not verify the data and if I did, I would realise that RHB missed out the events that happened on Aug 2004. Meaning to say there was a 1 into 2 share split ( see announcement: Entitlement - Others ) and after the share split, there was a bonus issue of 1 for 2 ( see announcement: Bonus Issue )

Which means my entire posting is beyond repair.

LOL!

Excuse? I was too lazy and incompetent to check my facts.

Ok... please line up and aim all the rotten eggs over here!

ps: pls be gentle.

ps: I am too lazy to recount. hehe. But if anyone is kind enough, I welcome them to do the entire calculations for me. :P

ps: It is Monday, isn't it?

16 comments:

Mun Wai said...: Moo I declare that I do not have rotten eggs at this moment. I spare you this time :)

No big deal. :)

Someone offers me this : Cancellation of shares purchased under Share Buyback can "generate proceeds" as working capital for XXX.

I was puzzled. So I checked 2 sources i)CA1965 ii)MASB for Accounting Standards on treatment for cancellation of shares.

Both state that upon cancellation, Share Capital reduces and the Capital Redemption Reserve increases by the corresponding amount.

No cash is involved, yes? If no, pls tell me where does the cash element comes in? From finance perspective.

Please do not repeat your expressed representation that you did not studied accounting. I acknowledge it.That is carved in stone.

:P; 2:29 PM
Moolah said...: You offer me no easy way out. :P; 2:39 PM
Moolah said...: I would try to look at past examples.

For example.. in Aug 2010, DFZ did a share cancellation. http://announcements.bursamalaysia.com/EDMS%5Cedmswebh.nsf/LsvAllByID/482576120041BDAA4825778A00351432?OpenDocument

Then I look and compare the next quarterly earnings report... http://announcements.bursamalaysia.com/EDMS%5Cedmswebh.nsf/LsvAllByID/482576120041BDAA482577C80035289C?OpenDocument

Would this 'answer' your Q? :P; 2:51 PM
bonny b said...: Dear Moo,
That fake takeover announcement earlier by a major shareholder is enough to tell the whole world that this is a company run by crappy stewards and not worthy of dog-poo. Btw, heard on the grapewine that its latest Uzbekistan contract is under-priced, and may lead to losses ahead. Caveat Emptor..; 2:56 PM
Moolah said...: bonny: hope you are aware that I am no fansi of KNM.

:P; 3:02 PM
Mun Wai said...: Exactly.

BTW, sorry Moo. Inadvertently sealed your loop hole. :P

So, in future whether to answer or not to answer has no reference to "no study accounting" / "not an accountant" :P

You need not quote "no study finance"

Anyway, your efforts worth at least a line of greetings hor :P

How are you?; 6:16 PM
juicy said...: if fake takeover is happening in australia ... knm boss will be asked to pay the losses incured by the investors ... only malaysia boleh ... lol; 6:59 PM
Moolah said...: juicy: Yeah... tell me about it.

ah Wai: lolzzz ....; 8:26 PM
solomon said...: Acknowledging mistake is better than sweeping it under carpet.

I could not find a reason to flex my muscle to throw a rotten egg on the brown cow......we have better use in this November.....; 9:27 PM
bonny b said...: Dear All,
Notice the latest grand project announced by KNM? RM638m deal in Sri Lanka, with Octagon's subsidiary. Wooohweee! RM638m deal with a unit of a Malaysian company with a market cap of RM24m, and one with a loan problem hanging over its neck for good measure! Woow-weee...Dog-poo plus cat-poo= bad stink!; 11:19 AM
Moolah said...: Oh yeah.. I did write on Octagon before.

Octagon; 1:10 PM
bonny b said...: Moo:
I bet my last ruppee that KNM's conditional deal with Octagon will not be signed by the intended dateline Dec, 2011. Of course they will have 'reason' to delay to later date...etc. Phew!...the stink!!; 3:13 PM
Moolah said...: Haha!

I guess you are really a bigger fansi than me! Hehe. :P

On a serious note, my initial reaction was 'Huh!!!!???? Octagon woh! Octagon giving KNM contract? Waloeh! Show me the ........... '; 3:40 PM
bonny b said...: Moo;
No big fansi, but just vomit at every appearance of rich but greedy businessmen scamming the public; and more of caretakers like the SC, who lack the moral fiber to correct the stink.; 12:12 PM
Mun Wai said...: Moo today I have truly appreciate what you mentioned about the Management guidance.

When the Management says their sales / revenue forecast is XXX, I really can't say "No. You BS. That's not achievable. You think your product is so great ah?" :P

It takes a real life example to understand. :P; 9:53 AM
Moolah said...: :); 11:50 AM

Where is Ze Moola

Monday, October 10, 2011