GO­ING UN­DER

Finweek English Edition - - INVESTMENT -

Gijima re­sults were a shocker and the rights is­sue even more so – this is a com­pany that has to­tally lost its way and is frankly strug­gling to sur­vive. In Septem­ber last year it pub­lished its re­sults for the year end­ing June 2012 and con­cluded with the com­ment: “De­spite the chal­lenges in the 2012 f inan­cial year, man­age­ment is con­fi­dent that the re­me­dial ac­tions taken have po­si­tioned the Com­pany for an im­proved per­for­mance.”

The re­sults for the six months end­ing De­cem­ber showed that it couldn’t have been more wrong if it tried and ei­ther man­age­ment is to­tal l y out of touch with what’s ac­tu­ally hap­pen­ing or they were try­ing to pull the wool over share­hold­ers’ eyes.

Gijima Group

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