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There are cases where companies borrow money and put their stocks as collateral. They transfer stock ownership to the lender, in this case Bluemont Asset Management, HK. This is dangerous for shareholders. You can see some stock prices fell so much e.g. BSLCorp, Vinvest, Mtronic and etc. Itronic has no cash but they can still operate. They have assets but they dont sell and if they sell, we will know bcos they have to give us dividend. And they don't give until now.
These ppl are not honest.
for now, if you see huge sell-off, its because Maybank IB (a holder of Bluemont Asset) did it. Itronic has 10% share in Bluemont. Bluement in turn bought Itronic shares and holds 12% in Itronic. Our King of MoU Chu Boon holds 4.6%.
Operational wise, Itronic has problem in high production cost. It has been going on like forever,
My best guess is, someboby higher up is making money in Itronic while Itronic is making losses.
The good thing is, Itronic has assets and cash.
While shareholders in Itronic sees their holdings getting smallers and smaller, someone in Itronic is making money..
Now ask yourself, is this fair to public shareholder or not?
boleh la beli buat2 peram..ada rezeki taun depan ke..2tahun lagi kee..lagi 20tahun ke ..naik la 40¢ kot... teknikal/taktikal semua tak boleh pakai.. gas takda.. smart money takda.. memang takat beli nak buat2 taruh nasib boleh la... da lowest 52w da lagipun.. going down and more down..da sampai lantai nanti baru la ada gas..bisnes pun merah je manjang..tak bagus kaunter ni.
Have you seen Itronic office or not? If you haven't, use google map
1 Area per Employee. With existing factory, one should wonder how they fit 450 employee under one roof.
2 High Cost of Sales. Itronic Cost of Sales constitute 90% of its revenue for all this while. Its so bizzare to do business with 10% Gross Margin..
3 High OpEx [Operation Expenses]. Itronic's OpEx alone constitute 33% from Revenue. Its extraordinarily high for a company with 450 employees.
4 Chu Boon Tiong known as King of MoU
