Thursday, March 01, 2012

Since Listing, Smartag Had Reported Losses Every Quarter!

Posted several times before:

June 2011: Is Smartag Worth A Bet?
June 2011: Smartag: I Am Wrong Because The Stock Moved Higher?
Aug 2011: A Quick Look At Smartag's Earnings.

Smartag reported its earnings the other day. It reported losses again.

But the lack of sales revenue was most glaring.

Have a look.

Now if you look at the above snapshot, on 13th April 2011, Smartag made two quarterly earnings report. But Smartag made its listing debut on 18th April 2011. Which means those 2 set of earnings was made before Smartag was listed.

Now if I take this into consideration, since listing, Smartag had reported losses for every quarter!!!!



Yet another QUALITY-LESS company being listed on our stock exchange.



casey said...

Thanks for highlighting situation. Without the groundwork, we tend not to realise the stark situation the company is in.

Smartag came along strong (supposedly with goverenment-linked projects aplenty) and was posing a perceived threat to another player EAH (the pet company of another blogger Dali, and its financial results were highlighting in his 27/2/2012 blog). As it turned out, the threat was never materialised.

I believe it could be that the market for RFID was just not big enough or not growing fast enough or there is just internecine competition that squeezes revenue and margin. I don't know if any of these is the case.

kelvin said...

Latest would be Sridge. Suddenly report big losses in final quarter

bonny b said...

Dear Moo,
It is obvious that Bursa Malaysia is turning into a ghost market. On top of all these outrageous listings, Bursa continues to prefer selective enforcement of its own rules. This last one week for instance, we witnessed Gamuda being pushed down sharply in closing trades on at least three occasions(maybe to kill off maturing call-warrants?).I don't expect Bursa to have anything to say about it.
As it is, Bursa is losing the trust of its individual investors. There is hardly any new retail investors. So, the biggest retail players are the remisiers and dealers themselves. Any newcomer will be taught a lesson on quick-time, and will soon withdraw with tail between legs.
So, it is a wonder, and a compliment that bloggers like yourself still persevere despite such overwhelming odds. I will bet my last ringgit that if you were any younger, you would have flown to greener pastures.
Still, it is characters like your good-self who make our days. Thank you, and best wishes.

Moolah said...

bonny b: "selective enforcement of its own rules"


Furex said...

Dear Moola, would you mind to share on your opinion on the latest development on Envair. Thanks