A Quick Look At Swee Joo's Earnings

Swee Joo announced its earnings last night. It lost some 8.1 million!

Since I had blogged several times on this stock ( see postings here: Swee Joo ), I decided to do an update.

The last I wrote, Swee Joo saw some turnaround in its earnings due to disposal of assets.

I wrote this on the posting iCapital And Swee Joo

• May 2009. Quarterly rpt on consolidated results for the financial period ended 31/3/2009. Earnings turned around. Swee Joo made some 5.135 million. Many thanks to a gain of 3.474 made from disposal of assets (property, plant, equipment) Swee Joo has cash balances of some 32 million (boosted by disposal of assets amounting to 13.272 million) and total debts stands at a huge 476.640 million.

I wondered how it fared this time around.

Cash balances dropped to only 10.237 million!!! (Where did the cash go?)
Total loans stood at 470.062 million.

How?