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Agree with you. I would take a back seat and watch what happens. Too many unknown variables basically means increased risk to the investor.
Company seems to have reported a significant reduction in loss from last FY. But beware the substantial adjustments and provisions which were made last FY, some of which were subsequently reversed out this FY. So obviously, we can expect to see a significant reduction in loss on paper. Question is 'is the improvement real?'.
Also, with the acquisition of part of Semitech business at way above the NTA and with this business currently operating at a loss, how certain are we that this move is beneficial to the shareholders?
In addition, with the rights issue to finance the daily operations of the company, there'll be dilution of shareholdings.
So far, I believe there's not much concrete information on future prospects to minimise the existing risk.
It's just the usual restructuring exercise - more funding - rights issue - share dilution......to sustain the company.
Anyone else with other views?
My take on the ACCS thing is to put your money elsewhere first.
Why take the risk on a company with a troubled history. Let others take the risk and you stand back and watch first before making your move.
must wait... for Mr Philip Eng good news, so must even wait longer to turn postitive
you're still interested in this counter even after the scandal??
Any analysis on ACCS following its recent announcement of full year results?