I posted this on another forum and didn't get a reply, I was wondering if anyone noticed this also.
Does anyone smell a rat here? Net profit after tax was $6,011,365 just $11,365 greater than 6,000,000 that Simon Loh could get bonus shares for nothing. He gets a total of 72,500,000 shares for the profit being over 6,000,000, if it was less than he would receive less shares on a pro rata basis...approx 36.25 shares for every dollar of profit over 4,000,000 up to a maximum of 6,000,000.
I really think the figures have been massaged up to over 6,000,000 so that Simon Loh gets as many shares as possible, there is a large amount of money sitting in accounts receivable, a lot more compared to 2005, yet accounts payable has barely increased.
I will take a further look at this when I have time, but I am interested to see what other peoples opinions are. I am seriously considering finding out who the auditor is and contacting them to make sure they are aware of this fact and ask them to take more notice of revenue and expenses (which can be changed to bring the profit figure up)
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