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发表于 19-9-2009 05:14 PM
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Top directors cease to be main SAAG shareholders[email=By%20Francis%20Fernandez]By Francis Fernandez[/email]
Published: 2009/09/18
TOOLS DICTIONARY : THESAURUS : |
SAAG Consolidated (M) Bhd (9652), an oil and gas support service provider, said two of its top directors are no longer substantial stakeholders in the company.
Executive director Anand Subramanian and Loganathan Ramanujam, thegroup managing director, ceased to be major shareholders of thecompany, fillings to the stock exchange showed.
The duo'sTaipan Holdings Sdn Bhd had their indirect holding in the company cutto 4.73 per cent from 5.35 per cent due to the conversion ofexchangeable bonds.
A closer look at the shareholding structurereveals that as at end April this year, Anand held a direct 10.37 percent stake, while his indirect holding stood at 7.18 per cent.
Loganathan's indirect and direct holding in SAAG at that point was 7.18 per cent and 8.65 per cent respectively.
Stafford Investments Ltd, a former substantial stakeholder, operatingfrom the Seychelles, remerged as a significant force in SAAG with an11.52 per cent stake.
Changes in SAAG come at a time when thecompany is at a crossroad, having posted its highest full-year netprofit on record in the year ended December 31 2008, only to slip upbadly in the current financial year.
In 2008, SAAG posted a netprofit of RM30.49 million, but for the six months to June 30 2009, SAAGslipped into the red with a net loss of RM2.69 million, despite bookinga one off gain of RM2.7 million from the sale of its consultingsubsidiary Proteus Global Solutions.
Standard & Poor's saidlast month SAAG's poor performance appeared to be due to losses in itsrig services, manpower consultancy and construction arm.
"Lowerrevenues in these segments were met with higher operating costs due toincreased employee and administration expenses," wrote analyst AhmadHalim in the report.
Consequently, S&P slashed its 2009 and 2010 earnings forecast for SAAG by 70 per cent and 47 per cent respectively.
看来是我看漏了股权被冲稀的事,Opps,那我在这里郑重道歉之前的不当言论。
引起不安,特别对不起~
[ 本帖最后由 ecoung 于 19-9-2009 05:24 PM 编辑 ] |
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