Thursday, December 13, 2012
Today's Hot Stock - FACBIND
1. KKSB, a wholly-owned subsidiary company of FACB, had on 12 December 2012 entered into a conditional sale and purchase agreement for the proposed disposal of a parcel of leasehold industrial land erected upon with two (2) detached factories for a total cash consideration of RM97 million, and
2. FACB had on 12 December 2012 entered into a conditional share sale agreement with Kentzu Steel for the proposed disposal of 10,000,000 ordinary shares of RM1.00 each, representing 100% equity interest in KTSB to Kentzu Steel for a total cash consideration of RM34.5 million.
Based on the latest audited consolidated financial statements of FACB Group as at 30 June 2012, the proforma effects of the Proposed Disposals on the Net Assets and gearing of FACB Group are:-
Share capital - RM85,163,000 (unchanged)
Net Assets per share - From RM1.88 to RM2.68
Gearing (times) - From 0.20 to 0.14
Cash and cash equivalents (RM) - From about 25m to 156m
Cash and cash equivalents per share - From RM0.30 to RM1.86
...now, you know why it is so HOT today!!!
Posted by Stephen at 1:19 PM