Highlights
KLSE: VC-PA (0060PA)       VORTEX CONSOLIDATED BERHAD ACE : Technology
Last Price Today's Change   Day's Range   Trading Volume
0.055   0.00 (0.00%)  0.055 - 0.055  80,000

Overview

Type:Preference Shares
Sector:
Listing Date:May 15, 2019
Maturity Date:May 06, 2024
Issue Size:914,828,754
Exercise Price:MYR 0.15
Ratio: 3:1
Underlying Stock:VC
Avg Volume (4 weeks):0
4 Weeks Range:0.05 - 0.06
52 Weeks Range:0.05 - 0.09

Additional Info

Announcement: [May 14, 2019] Profile for Securities of PLC
Issuer:-
Description:VORTEX CONSOLIDATED BERHAD (FORMERLY KNOWN AS SKH CONSORTIUM BERHAD) ("VORTEX" OR THE "COMPANY") ISSUANCE OF NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN VORTEX ("ICPS") TO THE ENTITLED SHAREHOLDERS OF VORTEX PURSUANT TO THE RENOUNCEABLE RIGHTS ISSUE OF UP TO 914,828,766 ICPS ON THE BASIS OF 3 ICPS FOR EVERY 1 EXISTING ORDINARY SHARE IN VORTEX ("VORTEX SHARE(S)" OR "SHARE(S)") HELD AS AT 5.00 P.M. ON 12 APRIL 2019 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.05 PER ICPS ("RIGHTS ISSUE OF ICPS")
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  SOLUTN likes this.
 
newbie5354_ i3 members blind? No 1 active nobody can see?
15/05/2019 10:08 AM
newbie5354_ Under PH everything is open tender. Can win BM Prima house builder?
15/05/2019 10:09 AM
henry8888 7 sen PA must sapu. After convert 3 VC PA:1 VC; VC cost only 21 sen compare to VC 29.
17/05/2019 9:09 AM
henry8888 No 1 active today not even 1 forumers aware?
17/05/2019 11:03 AM
kenie VC-PA
Conversion Price : 0.15
Conversion Ratio : 3:1
Convertible into : Physical Shares
17/05/2019 11:04 AM
henry8888 When reach 10-20 sen only i3 forumers here?
17/05/2019 11:08 AM
henry8888 Go see DWL pattern so VC will repeat?
17/05/2019 11:09 AM
henry8888 Add more 7 sen.
17/05/2019 11:11 AM
8888_ IT, property business now have and future will lend money business.
17/05/2019 12:01 PM
8888_ PROPOSED DIVERSIFICATION OF THE EXISTING BUSINESSES OF VORTEX AND ITS SUBSIDIARIES ("GROUP") TO INCLUDE MONEYLENDING BUSINESS ("PROPOSED DIVERSIFICATION")
http://www.bursamalaysia.com/market/listed-companies/company-announcements/6162721
17/05/2019 12:03 PM
5354_ Ratio: 3:1
Underlying Stock: VC
https://klse.i3investor.com/servlets/stk/0060pa.jsp
17/05/2019 12:54 PM
Penang_lang Wesak Day on Sunday. Pray Vortex 40 sen VC PA 10 sen next week can come?
17/05/2019 3:50 PM
Maybank8 Next MBSB or RceCap?
17/05/2019 4:03 PM
8888_ VORTEX CONSOLIDATED BERHAD (FORMERLY KNOWN AS SKH CONSORTIUM
BERHAD) (“VORTEX” OR “COMPANY”)
PROPOSED DIVERSIFICATION OF THE EXISTING BUSINESSES OF VORTEX AND ITS
SUBSIDIARIES (“GROUP”) TO INCLUDE MONEYLENDING BUSINESS (“PROPOSED
DIVERSIFICATION”)

1. INTRODUCTION
On behalf of the Board of Directors of Vortex (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the Proposed Diversification.

2. PROPOSED DIVERSIFICATION
2.1 Details of Proposed Diversification
Vortex is an investment holding company and the Group is principally involved in the trading of information technology (“IT”) and information and communication technology (“ICT”) related products (e.g. hardware, software and accessories), as an electronic commerce provider and facilitator, provision of software development and support services, property construction and its related business, property development and property investment.
Currently, most of the Group’s revenue is derived from its IT and ICT business. In view of the increased competition in the ICT industry, the Group is constantly looking for new business opportunities to diversify its income streams in order to reduce over-reliance on one single industry. As part of its diversification plan, on 15 April 2019, Vortex announced that it had, on the same date, entered into a shares sale agreement with Choo Peng Hung and Chan Chooi Teng (collectively referred as “Vendors”) to acquire the entire equity interest in Valhalla Holdings Sdn Bhd (“VHSB”) from the Vendors for a total cash consideration of RM2,000,000 (“Acquisition of VHSB”). VHSB has yet to commence business as at 13 May 2019 (being the latest practicable date prior to this announcement) (“LPD”). It has a wholly-owned subsidiary, Valhalla Capital Sdn Bhd (“VCSB”), which had obtained a moneylending licence dated 26 October 2018 issued by Kementerian Perumahan dan Kerajaan Tempatan (Ministry of Housing and Local Government) (“Ministry”) (“Licence”) under the Moneylenders Act 1951 [Act 400](“Moneylenders Act”) to be read together with the Moneylenders (Control and Licensing)Regulations 2003. The Licence shall be valid for a period of 2 years effective from 1 November 2018 to 31 October 2020. The Licence allows VCSB to undertake any business relating to moneylending activities (save for pawn business). VCSB has yet to commence its moneylending business as at the LPD.
The Acquisition of VHSB was completed on 19 April 2019, wherein VCSB is currently an indirect wholly-owned subsidiary of Vortex and this enables Vortex to venture into moneylending business.
2 The Board expects the Proposed Diversification to contribute positively to the future earnings of the Group given the growth of Malaysian economy and loan market in Malaysia (as set out in Sections 4.1 and 4.2 of this announcement). Although the Board does not expect the Proposed Diversification to contribute any profits to the Group until the commencement of moneylending business by VCSB (which is expected to be during 4th quarter of calendar year 2019), the Board anticipates that the moneylending business will potentially contribute 25% or more of the Group’s net profits and/or result in a diversion of 25% or more of the net assets (“NA”) of the Group to an operation which differs widely from those operations previously carried on by the Group. As such, in accordance with Rule 10.13(1) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“ACE Market LR”), Vortex is required to obtain its shareholders’ approval in a general meeting for any transaction or business arrangement which might reasonably be expected to result in either of the above-mentioned situations.
Notwithstanding the Proposed Diversification, the Group remains committed to its existing businesses in IT and ICT, property construction, property development and property investment segments.

2.2 Key management personnel
The Company has appointed the following personnel, who have the relevant expertise and experience in debt capital market and risk management to spearhead the moneylending business of the Group, to the Board:
(i) Lim Kian Boon (aged 51, Malaysian)
He was appointed as an Executive Director of Vortex on 15 April 2019 and is a substantial shareholder of Vortex by virtue of his interest in Goodwill Valley Sdn Bhd (an investment holding company) pursuant to Section 8 of the Companies Act 2016.
He graduated from Emile Woolf College in 1993 after completing his professional accountancy studies and was admitted as a member of the Association of Chartered Certified Accountants, United Kingdom in 1998.
He started his career with HSBC Bank Malaysia Berhad as Regional Officer in charge of current accounts and credit administration in Kuala Lumpur and Sabah in 1994.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/6162721
20/05/2019 3:55 AM
Victory88 Directors bought at 7-7.5 sen why 6 sen cannot buy?
23/05/2019 11:01 AM
Buy_ Nobody buy even VC up? I buy more. TP 9 sen if VC 27.
24/05/2019 9:32 AM
Buy_ meiling1990 your boss want to sack you is it haha? Why so desperate to promote here?
24/05/2019 11:22 AM
Buy_ meiling1990 tell your boss we not happy with what BN did so change to PH. If PH worse than BN ask them close shop in GE15 haha.
24/05/2019 11:24 AM
roszali PA ini sama warrant ?
24/05/2019 12:13 PM
Vortex1 PA not same bec 3PA can convert to VC or mother. W must come out extra 15 sen.
24/05/2019 12:27 PM


 

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