CAZ about to Hit the Floor! Company Shows Sign of Weaknesses from Low Liquidity!

The share price of CAZ (Thailand) Public Company Limited (CAZ) closes the morning session at ฿3.24/share, plunged ฿0.96/share or 22.86%. The highest in the session is ฿4.20/share while the lowest is ฿3.10/share with a trading value of THB 78.14 million.

The decline today has sunk CAZ below its IPO’s price which is ฿3.90/share. After checking its financial statement, Kaohoon Online noticed that CAZ had a serious problem with its liquidity.

CAZ had THB 660.11 million of current assets while its current liabilities was THB 830.43 million, making the current ratio at 0.79x, lower than normal and reflected low performance of debt repayment.

 

Moreover, the company also made a short-term loan from financial institutional for a total of THB 59.18 million, which was considerably high compared to current cash and cash equivalents at THB 35.22 million. CAZ could expect a total of THB 208.40 million from its borrowers, but the amount is still low compared to the total amount CAZ had borrowed which was THB 286.57 million.