Bleeding badly with SCOMIMR and SCOMI-LA
As you all know, i have invested into SCOMIMR (7045) and SCOMI-LA (7158-LA). I have personally 15000 shares of SCOMIMR and 30000 shares of SCOMI-LA.
I have also written a post on SCOMIMR - Will it be bleeding love for me? It turned out to be yes, it’s bleeding love currently..
What is my current holding of SCOMIMR and SCOMI-LA?
15000 shares of SCOMIMR, average price of RM 0.5711 and 30000 shares of SCOMI-LA with an average price of RM 0.12
Latest share price of SCOMIMR and SCOMI-LA
As per March 3rd 2010, SCOMIMR is at RM 0.385 and SCOMI-LA is at RM 0.095
How much paperloss have i endure?
SCOMIMR around -32.59% while SCOMI-LA around -20.83%
Why SCOMIMR drop so much?
SCOMIMR had a very poor 4th quarter result. The EPS stood at -17.89 sen bringing it down for the Current year to date which is -9.78 sen.
The reason for the poor 4th quarter result is due to impairment loss!
The revenue for 4th quarter ending 31/12/2009 vs 31/12/2008 is 110,916,000 vs 116,439,000. The different is around 6 million but the loss differ so much due to the impairment loss.
Without the impairment loss, SCOMIMR EPS will be around 2 +-
What is impairment loss?
SCOMIMR suffered impairment loss which is a downward revaluation of fixed assets. Meaning there is nothing wrong with the business they are doing just that a negative revaluation which makes the 4th quarter results ugly.
Am i still confident with SCOMIMR and SCOMI-LA?
Personally yes! Yes this is my personal view. I am a guy with high self confidence.. Lolx!
Will i buy in more?
Yes but not so soon. Will try to buy in some when the next quarter result is approaching.
Will i loose sleep?
Never as i am still confident with the fundamental of SCOMIMR and SCOMI-LA
Conclusion
Still confident but like i say in my earlier post, i am no GOD! Happy waiting people… ^^
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3 Responses to “Bleeding badly with SCOMIMR and SCOMI-LA”
By Fernando on Mar 5, 2010 | Reply
Hi Kampung,
Thanks for writting up about Scomimr. My paper loss is about 15%. The loss happened after the annoucement of latest quarter result.
I am great that you still writing about Scomimr though you are suffering loss. Many bloggers would avoid writting their “pain”.
I also confident that it will be doing well.
Thank you for sharing ~~~~
By Kampung Boy on Mar 5, 2010 | Reply
@Fernando : No problem brother. To be a well respected investor, i hope to walk the talk!
Good luck in Scomimr. We are on the same boat. We fly together or sink together!
Trust me, the next quarter result will be good as the last quarter they had a big impairment loss.
By nursing schools on Apr 29, 2010 | Reply
What a great resource!