I have a quick read through at OLYMPIA latest annual report 2010 this afternoon. Well, I took a look just because I'm it's subsidiary, Jupiter Security Sdn Bhd customer. Jupiter Security Sdn Bhd is one of the brokerage firms in Malaysia and I'm using Jupiter Online as my trading platform.
Talk about Jupiter Online, I think it is the best and most stable trading platform and portal I ever had. I have been consistently using it for more than 2 years and I love it a lot compared to OSK, Maybank and CIMB. On the other hand, CIMB trading platform is the lousiest compared to all of them.
Anyway, as Juniper Security Sdn Bhd offers low rate and good trading plarform for it's customers, I'm sure it is making money. For FY2010, it has gain after tax profit of RM1.7 millions, compare to making loss last year. I'm happy to see that. However, the overall company performance is still very poor since 2009. I'm unable to invest in this counter even though I like it's subsidiary a lot. This is because this company is not making money, at least for the past 3 years and I don't see significant improvement yet.
What surprised me is that I noticed Tan Sri Lim Kok Thay is one of the 30 shareholders for OLYMPIA. As this is not a money making company, I just wonder why Genting big boss is investing in this company. I don't think he has time to use Jupiter Online for share trading at his own? Perhaps OLYMPIA is political link counter?
What do you think?
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