Okay, I will take a few mins to describe and elaborate about my...

Okay, I will take a few mins to describe and elaborate about my comment in disagreeing with you. However you have not elaborated why and how you came to the conclusion or suspicion that management had sandbagged "previous quarters"??
 

Firstly, it was never a matter of "last few quarters" that management did any sandbagging etc!! Because board and management envisioned the long journey to transform itself towards "product manufacturer" and "product owner" of disruptive technologies in 2010. This was a strategic step to fulfil the long term goal of value creation. As the time passed by they reached a point where they started to feel technologies required more resources, time and then started causing long gestation and commercialisation cost etc, the company started to feel the real pressure as its core established business came under real strain e.g. Oil, gas & marine business in particular as the crude oil price fell to multi decade low of $28 per barrel a few years ago. Since then a long geo-political factors have been on play which probably is almost a norm when it comes to Oil pricing (keep in mind Oil price is now around 65-70 barrel and would be reaching higher as it has been consolidated for multi years now.) As a result of this about 3 years ago, Zicom started making NET LOSSES and was carrying costly Medtech technologies as well which not only eroded its profits but pushed the net losses much higher and caused strain on its Balance sheet. Nonetheless, management made a strategic decision to demerge the medtech business completely so Zicom Group (ZGL) can run its own established business efficiently and effectively and return to its days of growing profits for its shareholders.

PRESENT STORY:

Now, soon after the demerger Zicom has locked in a very large order for its gas business under Oil, gas & marine segment. I believe this is the largest piece of order in last 10 years as they have about $87 million worth of orders that they will be executing alone in FY2020. My understanding is their highest profit margin business is Oil, gas & marine business. At least historically, it has been and I do not see any reason why it would not be now and going forward as it is based on specialty and required a nice expertise in execution. Just to add more sweetener to the story, ZGL owns "Orion System Integration company" that makes patented fine pitch bonding machines now appears to be in full swing, as this has allowed their precision engineering (PE) segment to achievement profitability on its own. Based on my readings their machines have been disruptive of in their business nature and would have started to give advantage to user, hence repeat order are now being felt and growth will come in near future. From memory, in the past (many years ago) management had said Orion would be their one of the 1st start-up investment who would start experience profitability however this has taken much longer than what they thought. However, better be late than never be. I recall they had refined their machines to make more customizable that suit the customer and give them the true edge. These machines are being used by one of WORLD's leading chip assembly factory or factories now.

Unlike many other asx small companies, in this company, I have especially noted that the management and board are not greedy as they are busy running their businesses like a family businesses and for sure this is family business of Mr. Sim and family. Where Mr. Chairman and known family members hold about 60% approximately (from my memory) company shares. There holdings are REAL, SUPER TIGHT and LEGIT as I DO NOT recall any dumping and selling in last 9-10 years except transfers in between the family holders. I have only seen Mr. Sim or other insiders buying shares in last 9-10 years.

Having said all above, that was why my Original post on Friday was to state the clear change of direction as BIG TURNAROUND was confirmed with their half-yearly results and future results are coming FAR FAR more promising than they have been lately. To me, the rationale behind demerger is crystal clear as Board is trying to restore normality in ZICOM GROUP businesses as I believe it will be able to restore its share price performance in the due course accordingly.

My 2cents about this company as I have been greatly involved in researching and learning about this co. Good to all. I would be looking add more and wait to achievement some significant results.

DYOR: This is not advice, do your own research and act accordingly. Only sharing my knowledge based on my own research about this particular company.