Sunday, March 18, 2007

Oh .. Nextnation ... oh ....


Once again, Nextnation stock price is lack of support again - with closing price of RM0.565. Perhaps this is the reason the fund manager whose people describe him as 'Asia Warren Buffett' - Mr Tan from Pheim Asset Management decided to sell it not long ago.
Nextnation was in press highlight when it's subsidiaries were among the content firms that been suspended due to the failure to terminate processes. There are 2 subsidiaries that I managed to find from the list - Dubaitech and Nextnation Network. No matter what is the reason, it gives bad impression to the customers and investors.
Nexnat also stated that this did not result in material financial or operational impact to them.
I am waiting the Q3 result from them before I take any action. To dispose or to accumulate and wait patiently again?
If I got a chance, I would like to attend their AGM this year with the below Q:

- What are the factors that drive the bonus issues cant get completed after almost 1 year?
- Why private placements cant get completed after such a long time as well?
- Can they provide more details financial report? their major revenue contributor is from content providing? service support such as mobile application softwares? or Ozura mobile games?
- Why revenue from Malaysia is decreasing?
- Why some of the overseas subsidiaries are in loss making position? which country?
- Why their websites remain unpopular? is due to lack of RnD in internet research?
- Why the profit margin is squeezed? they had about 50% profit magin before they are listed.

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