Mareed - you are smoking the hashish mate. Shareholder equity is pitifully below $500m and they will be falling under Fixed Charge cover almost certainly come FY19. Their net profit BEFORE "implementation costs'' was down 36.1%. Their final profit number for the half was negative $476.2 million.
What do you think will happen when they breach 2 out of 3 covenants? Do you think the banks are going to come around and give them a sticker and a pat on the back?
NO YOU FOOL - they are heading towards that iceberg and lenders will recapitalise the business. Poor shareholders like you will get ROYALLY SHAFTED. Your equity will get heavily diluted as lenders take equity and you will be left holding crap all after some kind of consolidation (see SGH/PDN as prime examples... It has happened multiple times this year).
@Christos12 is trying to help you; so stop being a twat and take some advice on board from experienced traders.
MYR Price at posting:
38.0¢ Sentiment: Sell Disclosure: Not Held
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