Jan 22 2024, 09:18 PM
QUOTE(Babizz @ Jan 18 2024, 09:04 PM)
Chance of project stalled is 80%. They only have 17 mil cash vs 1.3 billion borrowings.
MARC Ratings noted the group’s liquidity position, as reflected by cash and short-term deposits, stood at about RM17 million as of Sept 30, 2023 while its adjusted borrowings amounted to about RM1.3 billion.
I thk to be fair they still have over RM300Mil Freehold/Leasehold land which are not pledged to banks. (If there were able to find a buyer in time, they should be quite safe).MARC Ratings noted the group’s liquidity position, as reflected by cash and short-term deposits, stood at about RM17 million as of Sept 30, 2023 while its adjusted borrowings amounted to about RM1.3 billion.
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