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1809 comment(s). Last comment by sampool at Aug 20, 2014 02:59 PM
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pumas
72 posts

Posted by pumas > Aug 16, 2014 03:35 PM | Report Abuse

sampool...the agreement was signed last year but the announcement was on 15 August 2014...cant you read!!??


Enchow Oi
30 posts

Posted by Enchow Oi > Aug 16, 2014 04:35 PM | Report Abuse

ASTRAL SUPREME BERHAD

pumas, here r the original rpt published in bursa...................

ASTRAL SUPREME BERHAD ('ASUPREME' OR 'THE COMPANY')
-Termination of the Joint Venture Agreement between Astral Supreme Construction Sdn Bhd and Zenith PMC Sdn Bhd

Reference is made to the announcement dated 15 August 2013 in respect of the Joint Venture Agreement dated 15 August 2013 ("JVA") between Astral Supreme Construction Sdn Bhd ("ASC"), a wholly-owned subsidiary of the Company and Zenith PMC Sdn Bhd ("ZP") to jointly manage, perform and carry out the Feasibility Studies and Detailed Design Stage of the project known as "Projek Pembinaan Jalan-jalan Utama dan Terowong di Pulau Pinang", involving the proposed construction of various roads in Penang and an undersea tunnel between Penang Island and Seberang Perai ("the Project").

The Board wishes to announce that ZP vide its letter dated 11 July 2014 had declined ASC's appeal to defer the implementation of the JVA until November 2014 due to unreasonable delay which is in breach of clause 10.1 of the JVA which states that the works shall be completed within thirty (30) months from the date of JVA. Further, clause 12.4 of the JVA stipulates that time wherever mentioned in the JVA shall be of the essence. ASC failed to remedy the breach within fourteen (14) days from the date of the letter. Accordingly, the JVA was terminated and rendered null and void with immediate effect. With the termination, neither the parties shall have any further claims against each other in respect of the JVA.

The termination will not have any significant effect on the earnings or net assets per share of the Company for the financial year ending 31 December 2014.

This announcement is dated 25 July 2014.


sampool
59 posts

Posted by sampool > Aug 16, 2014 05:18 PM | Report Abuse

"" the JVA as announced on 15 August 2013. ""


pumas
72 posts

Posted by pumas > Aug 16, 2014 05:27 PM | Report Abuse

enchow ...thanks for the info

sampool ... i wasnt talking about the signing of the JVA... i was talking about the cancellation of the JVA that they announce sometime in July 2014...


Enchow Oi
30 posts

Posted by Enchow Oi > Aug 16, 2014 06:50 PM | Report Abuse

it's alright Pumas, wer in same boat


sheep
1001 posts

Posted by sheep > Aug 16, 2014 10:38 PM | Report Abuse

Start of the downfall.....sell on strength or just sell... lousy counter. when up from 11sen.


gila9696
126 posts

Posted by gila9696 > Aug 17, 2014 02:21 PM | Report Abuse

No hope.......RUN


MillionaireHub
9 posts

Posted by MillionaireHub > Aug 19, 2014 11:23 PM | Report Abuse

stay steady dont run


sampool
59 posts

Posted by sampool > Aug 20, 2014 02:59 PM | Report Abuse

buy sell buy sell just untung the remiser and stock broker la... sabah la. :))

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