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Q2 Profit still huge impacted by LAD for The Peak Condo at JB. This project already 10 years but STOP after completed 87%. The management still didn't update the future plan about the actions to be taken in the report. Just sharing all good news but actually The Peak Project is killing point for company to growth & earn more. Almost 50% of profit need contribute for LAD The Peak abandoned project.
Based on report, 3.5 million loss to pay LAD for THE PEAK JB. 4 quarters will loss 14 million. This is huge loss & will be continued for each year until THE PEAK condominium JB abandoned issue being resolved. Top management really need to take immediate action to stop the bleeding. Share price will continue remain at lower price. No hope for this company if want to play shorten while waiting the problem to be resolved.