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Federal has a relatively stable hardware trading business, but since 2012, this is overshadowed by its forays into loss-making O&G assets. While there had been signals to divest the loss-making misadventures, they never came to pass, and continues to plague the company's results.

Federal announces a profit warning for the upcoming quarter:

http://infopub.sgx.com/FileOpen/Federal%...eID=504740

Federal's stable hardware trading business went into losses, pulling the entire group down with it, even though losses from its O&G forays were reduced. Revenues from this segment were down by a whopping two thirds; almost all of it from its Indonesian customer(s).

But who were these Indonesian customer(s)? Why did such a large portion of business disappear?

No explanation was given for this material change in business. No dividends for FY18.

https://links.sgx.com/FileOpen/Federal%2...eID=546025

yeah wow just when i thought things were stabilizing (perhaps looking rosier too) with decent divs...a ~90M chunk of rev from indo disappears like that.

this company do rights issues regularly. https://www2.sgx.com/securities/corporat...000)%20LTD


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