DNEX (4456) - Dnex - You have been warned
Now the mood has turned soft, I share with you a bit about Dnex.
From the audited accounts of Dnex for YE 31.12 2016
Share of results in associates, net of tax $123,535,000
Profit for the year $132,226,000
Almost all the profits for the year are from equity accounting of Associates
The associate company........
Ping Petroleum Limited Bermuda Exploration, development and production of crude
- oil and natural gas. effective interest 30%.
so, what is that $ 123 million associate company profit?
little is available in the Annual Report.
for that, look at Hibiscus interim results.
After tax profits for the quarter ended Sept 2016.....$ 80 million...almost all of which is defered tax write backs.
remember the hoo ha with Hibiscus? , remember how it rallied from 20 sen to 60 sen and now trading around 40 sen.?
Trapping many people around 50 sen?
Profits for the year Dnex $ 132 million, plus all the news flows, Dnex from gone from 20 sen to 70 sen ......
I think the hooha is over. I think this share will slowly retrace to 50 sen and below.
Dnex 1.745 billion shares.
look at the sales transactions
| ENCIK AZMAN BIN KARIM | 10-Apr-2017 | Notice of Person Ceasing | 130,000,000 | 0.430 |
| MR KHOO KOK SENG | 03-Mar-2017 | Notice of Person Ceasing | 60,000,000 | 0.406 |
DNEX (4456) - Dnex - You have been warned
http://klse.i3investor.com/blogs/stockman/122133.jsp
