Friday, March 01, 2013

Masterskill Sinking Deeper

Don't just watch the stock price. Do pay attention to what the owner says too. It says a lot.

On 30th May 2011, I posted  How Now Masterskill?. In that posting I highlighted the comments made by Masterskill (MEGB) Boss on Star Biz.

  • “Well, I need to wait and see. Perhaps, anything below RM2 doesn't justify keeping the company listed,” Edmund said when asked on the amount of shares he intended to purchase.

    Last December, he told StarBiz that the share price then of RM2.22 was not “justifiable” for a firm that made about RM100mil in net profit annually.He said that the company was fundamentally sound and that its Kuching campus was already in operation.

    “The current share price weakness presents a great buying opportunity for Edmund to accumulate its shares,” an analyst said, adding that Edmund's move to purchase more shares may be a practical thing to do.
Masterskill or MEGB is still a listed stock today.

Yes, my dearest, MEGB,the stock, is still trading in Bursa Malaysia.

And that's not all. Yesterday, MEGB announced its quaterly earnings again. It lost money once again, its 5th consecutive quarter of losses!

Here's a screen shot.

As you can see from the screen shot, MEGB last traded at 0.615!!!

Yes only 61.5 sen!!!

Those comments back in 2011 rings soooooo loud today!

 'ANYTHING BELOW RM2 doesn't justify keeping the company listed'!!!!!!!

So I am telling you... the ownership factor is important factor when you want to make a stock investment.


jessica.lee said...

The losses are swelling. Frightening.