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I have no idea. last Friday the director planned to buy or sell his shares. previously this director bought shares when the share price is low. i hope good news is coming la.
Ocncash has a segment of business to be used in healthcare only...I think can not compare directly...my bet is big funds is buying because since end of May there is money inflow consistently...maybe I am biased because I am holding shares...
haha, anyone escaped the trap? if want to goreng this stock, then they lack of a rumour or speculation. Back to 2020, share price spike due to speculation of non-woven shortage for high demand of masks. I can be wrong. What do you guys think?
Losses not only due to depreciation. Also due to drop in sales & increase in production costs (labour and electricity). Maybe could not transfer the cost increases to customers due to contracts in place. My biggest concern is the drop in sales. Compared to Qtr 1 2024, Sales drop by 5.7%. Despite spending a lot of money in new machinery in 2023, we have not seen increase in Sales. only increase in depreciation. If sales do not go up, profits will not be seen. 1st quarterly loss in 10 years.
In 2023 spend millions in new machinery in Indonesia and new facility in Thailand. Unfortunately, sales have been pretty much flat in those countries. That is concerning to me.
I have sold off my holdings with the recent price increase as my target was reached. Will look at their next Qtr results to decide whether to go in or not. At the current price, I think it is too risky to go in.
Congrats Balvinder. May go find other undervalued stock. I have been trapped here for a few years. So, put all my hope on the spunlace machine will boost up the sales. Finger crossed.