Shares & Derivatives
Yongnam – Weaken Balance Sheet with risk of default
By Investmoolah  •  February 27, 2022
Yongnam has released its latest full year results and it looks pretty scary. Unlike its competitor TTJ who has been eking out a margin in projects, Yongnam continues its path of losses. Despite government financial assistance for the construction sector, the margins earned  negative and even on a gross profit view, it is not even making money. TTJ, Hocklianseng, KSH are profitable in their construction segments. It points to reckless bidding by its tendering team where my speculation is for projects, they are bidding as the lowest bidder, without care for margins and people are accepting their bid because of their lowest value and track record of completing many national projects. However, the risk of them ending like Greatearth is now elevated. The public sector should keep watch for their projects with them in least it becomes like some recent BTO projects Weak Balance Sheet PPE Woes- The company is reporting...
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By Investmoolah
A total otaku who loves anime, investing and the occasional K-drama. My financial journey begun at the age of 22 and has revolved around the concepts of "Working Hard", "Saving Well" and "Investing Wisely". Through my journey, I have realized that financial literacy is something we have learnt little during our school days but is one of the most useful and relevant skill that we have to be equipped to take on the real world. Concepts such as compounding and "common sense investing" are skills that will place us ahead of the race to retirement ...

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