DOLOMITE(5835) UP 143% DUE TO ASSET SALE WILL ASB(1481) GO UP LIKEWISE BY ASSET SALE?

June 7, 2019 By Calvin Tan Smart Investment

DOLOMITE(5835) UP 143% DUE TO ASSET SALE WILL ASB(1481) GO UP LIKEWISE BY ASSET SALE, Calvin Tan Research

Author: calvintaneng | Publish date: Fri, 7 Jun 2019, 12:56 AM

Hi guys,

Dolomite (a loss making company) suddenly jumped in price by a whopping 143.75% From 8 SEN TO 19.5 SEN Due to One Off Asset Disposal

See

DOLOMITE CORPORATION BERHAD

Type

Announcement

Subject

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS

Description

DOLOMITE CORPORATION BERHAD ("DOLOMITE" OR "COMPANY")

PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN DOLOMITE GRANITE QUARRY SDN BHD TO SUNWAY HOLDINGS SDN BHD ("PROPOSED DISPOSAL")

On behalf of the Board of Directors of Dolomite, M&A Securities Sdn Bhd wishes to announce that Dolomite Industries Company Sdn Bhd (“DICSB”), a wholly-owned subsidiary of Dolomite, had on 3 June 2019 entered into a share sale agreement with Sunway Holdings Sdn Bhd (“SHSB”), a wholly-owned subsidiary of Sunway Berhad for the proposed disposal by DICSB of 100% equity interest in Dolomite Granite Quarry Sdn Bhd (“DGQSB”) comprising 100 ordinary shares for a total disposal consideration of RM125,000,100 comprising a cash amount of RM100 together with advances by SHSB to DGQSB of RM125,000,000.

See Dolomite latest quarter result

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2019	31 Mar 2018	31 Mar 2019	31 Mar 2018
		$$’000	$$’000	$$’000	$$’000
		1	Revenue	6,375	0	39,585	0
2	Profit/(loss) before tax	-3,488	0	-17,694	0
3	Profit/(loss) for the period	-5,389	0	-21,348	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	-5,389	0	-21,348	0
5	Basic earnings/(loss) per share (Subunit)	-1.89	0.00	-7.49	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0800		0.1500

Remarks :

Following the change in financial year end of the Company from 31 December to 30 June, the last set of audited financial statements is for a period of 18 months from 1 January 2017 to 30 June 2018.  Accordingly, there are no comparative figures to be presented for the current financial year ending 30 June 2019.

Definition of Subunit:In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

THE ABOVE TABLE SHOWS DOLOMITE HAS A SMALL REVENUE OF ONLY RM6.3 MILLIONS

A LOSS OF -1.89 SEN

A SMALL NAV OF ONLY 8 SEN

THEN HOW COME THE SHARE COULD SURGE BY 143.75% FOR AN 11.5 SEN GAIN?

HA! THIS SHOWS THAT WHAT PETER LYNCH, BEN GRAHAM AND WAKTER SCHLOSS TAUGHT IS TRUE

DOLOMITE DISPOSED A LEASEHOLD QUARRY LAND FOR RM125 MILLIONS OF WHICH THERE IS A PROFIT OF 21 SEN

SO IS THE PRICE RISE JUSTIFIED?

WITH NTA OF 8 SEN AND A ONE OFF ASSET DISPOSAL DOLOMITE LOOKS LIKE OVERVALUED FOR NOW AS ITS NTA SUPPORT AND FUTURE PROFIT ARE STILL WEAK

BUT THE CASH OF RM125 MILLIONS WILL UNLOCK VALUE

NOW LOOK AT A POTENTIAL STOCK WITH BETTER FUNDAMENTAL THAN DOLOMITE

SEE ASB LATEST QTR RESULT

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2019	31 Mar 2018	31 Mar 2019	31 Mar 2018
		$$’000	$$’000	$$’000	$$’000
		1	Revenue	63,278	65,813	63,278	65,813
2	Profit/(loss) before tax	-3,202	-2,154	-3,202	-2,154
3	Profit/(loss) for the period	-4,606	-3,609	-4,606	-3,609
4	Profit/(loss) attributable to ordinary equity holders of the parent	-4,703	-3,994	-4,703	-3,994
5	Basic earnings/(loss) per share (Subunit)	-0.51	-0.47	-0.51	-0.47
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.4550		0.4540

AS YOU CAN SEE FROM THE ABOVE ASB’S REVENUE IS RM63 MILLIONS (10 TIMES MORE THAN DOLOMITE)

IT ALSO REGISTERED A SMALLER LOSS OF -0.51 THAN DOLOMITE

ITS NTA IS 45 SEN WHICH IS 5.6X MORE THAN DOLOMITE

SO FROM ALL ANGLES ASB HAS BETTER FUNDAMENTAL THAN DOLOMITE

NOW LOOK AT ASB ASSET DISPOSAL

ADVANCE SYNERGY BERHAD

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	ADVANCE SYNERGY BERHAD ("ASB" OR "THE COMPANY") Proposed disposal of all that piece of freehold land held under GRN 177486, Lot 38271, Pekan Baru Hicom, Daerah Petaling, Negeri Selangor together with the buildings as well as fixtures and fittings erected and affixed thereon
The Board of Directors of ASB (“Board”) wishes to announce that its indirect wholly-owned subsidiary, AESBI Power Systems Sdn Bhd (Company No.: 336668-T)(“Vendor”), had on 10 May 2019 entered into a conditional Sale and Purchase Agreement (hereinafter referred to as “SPA”) with Symphony Warehouse Sdn Bhd (Company No. 1322075-V)(“Purchaser”) for the proposed disposal of all that piece of freehold land held under GRN 177486, Lot 38271, Pekan Baru Hicom, Daerah Petaling, Negeri Selangor (the “Land”) together with that the buildings and structures erected on the Land and fixtures and fittings (excluding those which are listed by the Vendor and given to the Purchaser prior to completion of the SPA) erected and affixed thereon (collectively, the “Property”) for a cash consideration of Ringgit Malaysia One Hundred and Twenty Four Million (RM124,000,000) only (“Purchase Price”), subject to the terms and conditions as stipulated in the SPA (“Proposed Disposal”).

HA! DID YOU NOTICE THAT

DOLOMITE SELLING ITS LEASEHOLD QUARRY LAND FOR RM125 MILLIONS

ASB SELLING ITS PRIME FACTORY LANDS IN SHAH ALAM FOR RM124 MILLIONS

ASB WILL GET 12 SEN GROSS WITH A NET PROFIT OF 8.3 SEN

DO YOU SEE THE HUGE PRICE DISCREPANCY. MR, MARKET HAS CHASED UP DOLOMITE SHARES INTO GROSS OVER VALUATION WHILE IT HAS CARELESSLY OVERLOOKED THE DEEP VALUE OF ASB

HENCE THERE IS GREAT OPPORTUNITY TO BUY ASB AT 13.5 SEN NOW

HOW COULD CALVIN AND HIS BUDDIES MISS?

BEST REGARDS

Calvin Tan Research

Please buy/sell or keep Cash after doing your own due diligence

Sorry guys

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