A Blog about [1] Corporate Governance issues in Malaysia and [2] Global Investment Ideas
Tuesday, 30 August 2016
Maxwell: zero revenue!
I have warned many times regarding this counter (and other China listed companies on Bursa), but zero revenue, even I am shocked, any hawker stall will do better than that.
Maxwell has RM5m of inventory (I believe some finished products, some semi-finished products and some raw materials) in the immediate preceding quarter. In the reporting quarter, the inventories turned zero. Why didn't some of the inventories turned into revenue? Didn't see impairment nor provision made on inventories. How to explain that?
Bursa Malaysia really needs to tighten up and gets these dodgy companies off the exchange!
ReplyDeleteMaxwell has RM5m of inventory (I believe some finished products, some semi-finished products and some raw materials) in the immediate preceding quarter. In the reporting quarter, the inventories turned zero. Why didn't some of the inventories turned into revenue? Didn't see impairment nor provision made on inventories. How to explain that?
ReplyDeleteSo what will happen to the RM347m of so-called cash?
ReplyDeleteWammo and Malaysia Stock Talk, thanks for your comments
ReplyDelete