TIMECOM ~ a share to look at?

TIMECOM (5031) http://www.time.com.my/

Background:

• TIME dotCom Berhad is a public listed company, listed on the Main Market of KLSE since 2001. Incorporated in 1996 as TIME Telecommunications Holdings Berhad, changed its name TIME dotCom Berhad in 2000.
• TIME dotCom's full suite of telecommunication licenses has enabled the TIME dotCom group to operate and offer its services, ranging from voice and data communications to broadband Internet, satellite connectivity, private networks, as well as other IT and communication solutions. 

Current Share Price:  0.53





My View:

This share has drop around 46% recently since April 2011.

As metioned in my previous post "Recently Big Drop in US & European's Stocks ~ KLSE Affected?", I believe there are still room for KLSE to drop further and we shall only look at shares which drop at least 50% from its highest value.

I'm currently looking at this share and planning to buy in. The reason i like it is as follows:
a) Value drop 46%
b) Net assets per share is 0.49 which is similar to the current share price stated above
c) One of the major shareholder is Khazanah Nasional Berhad with approximately 42%

The down sides for this share is no dividends payout, so you might think why we take the risk now? Why not put it in the bank for FD and get around 3% interest per annum while waiting for the market to crash further?

So you might have to think carefully before consider this one.

Take care & all the best in your investment!!