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every year, the company paid a dividend amounting to RM2.8mil. now they are investing @ rm31.5mil with @ 6% pa coupon rate for about RM1.9mil. Still cash rich but doesn't seem to be rewarding shareholders... what's the catch?
Dividend was suspended as the market manipulation scheme of YNHP and RAPID fell apart. The main players also had substantial stakes in IMASPRO and many were force liquidated leading to a massive drop in stock price. The suspension of dividends will be related to this beyond doubt. Positive is the fact that the company is not just wasting its retained earnings.
Not connected but I will open a long term position soon, its too cheap to ignore at this prices. Profitable, never made loss in 2 decades, no debt, trading below cash on hand which is gila. Last quater was solid, I think the market is sleeping on this counter and one day it will wake up. Downside is low trading volume, liquidity and the reputational damage from YNHP saga.