Nicorp's 400 million JV

Saw a couple of announcement made by Nicorp.

1. Nicorp: 400million JV

2. Nicorp: Disposal of shares

Things that needs to be considered....

1. The JV. How much is Nicorp's stake worth?

2. Why is there such a fair-sized disposal by insiders on the eve of such 'good' news for Nicorp? Do they know something that we dun?

Oh... Nicorp has 450.819 million shares.

based on Uzma 'estimates' .. for fy 2006, this JV would generate a profit after tax of 10 million. So how much is Nicorp's stake worth? Share half-half? 50-50?

If this assumption is ngam, then one is looking a PAT of only 5 million or an earnings per share of only 1.1 sen for Nicorp.

how? So geng ka?

:D