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Overview
Financial Highlight
Headlines
Business Background Sumatec Resources Bhd is an investment holding company and is engaged in upstream oil and gas operation. The company focuses on acquiring and developing new and underperforming oil and gas fields. It has also interests in the rakushechnoye field in Kazakhstan.
  cashflow Sumatec holding its ground. Believe HS bought those big lots at 1.5cents after panic sellers sold. Have strong feeling it will rebound above 2cents, fingers crossed 11/12/2018 10:33 kenie Sumatec lodges police report against former director KAZAKHSTAN / 22 NOV 2018 PETALING JAYA: Sumatec Resources Bhd has lodged a police report against one of its former directors for possible breach of trust and committing offences under the Company Act 2016 by conducting certain transactions without the approval of the board of directors . The group told the stock exchange that Independent Director and Chairman of the Audit Committee of the Board, Datuk Khalid Ahmad had on November 20 lodged the report with the Commercial Crime Department. The decision to lodge the police report was made in accordance with the advice and order of the Board of Directors with the recommendation from the managing director to safeguard the interests of the company, the shareholders, other stakeholders and the public. The director who was a board member of the company from 2003 to 2017 was also a director and shareholder of Tekad Mulia Sdn Bhd during the period in which the alleged act being committed. “The director, in acting without board authority, was acting in conflict of interest in relation to the transactions involving the divestment of Semua International Sdn Bhd (SISB) and Collateralized Loan Obligation (CLO) Debt settlement (since he was also a Director and shareholder of Tekad Mulia Sdn Bhd), a substantial shareholder of the Company during the period in which the alleged act being committed. The Director has made certain undertaking to the Purchaser and Trustee, Malaysian Trustee Bhd and Bondholders in the Settlement Agreement 2013,” said Sumatec board of directors in the filing. Checks with Companies Commission of Malaysia (SSM’s) records list former director Chan Yok Peng as a director and shareholder in Tekad Mulia. The former director also allegedly placed the company’s seal on an agreement without the resolution of the board for a settlement agreement for a CLO Debt for the company’s previous subsidiary SISB. This resulted in Sumatec acknowledging the undertaking to settle around RM80 million, even though the liability has been waived. He was also found to have been allegedly negligent in handling his duties in relation to the financing of vessels under the Company’s subsidiaries, SISB and Semado Shipping Sdn Bhd, by failing to ensure the takeover of the Sumatec’s guarantees to Bank Pembangunan Malaysia Bhd and Malayan Banking Bhd to Hoe Leong Corp Ltd , a company incorporated and listed on the Singapore Stock Exchange. As well as failed to procure the guarantee and to replace the company’s guarantee from the controlling shareholder of SISB, Hoe Leong Corporation Bhd as stipulated in the Settlement Agreement 2013 and the company’s Circular to Shareholders dated May 30 2013, which has caused the company to be summoned and face winding-up proceeding for liabilities estimated at about RM350 million. The director had allegedly acted alone and without the permission of the board of directors in signing the Parental Company Guarantee Agreement” dated May 2, 2016 to the Continental Industrial Supply And Services Limited Liability Company Partnership (CISS.) This was to secure the payment of the Kazakhstan based oil and gas company, CaspiOil Gas LLP (COG) contract, which resulted in the company paying for arbitration proceedings of about US$6 million. 11/12/2018 16:02 kenie 6 Aug 2018 SUMATEC HALIM BIN SAAD Disposed 66,000,000 29 Jan 2018 SUMATEC HALIM BIN SAAD Disposed 127,000,000 18 Apr 2017 SUMATEC HALIM BIN SAAD Disposed 14,200,000 18 Apr 2017 SUMATEC HALIM BIN SAAD Disposed 9,570,000 13 Apr 2017 SUMATEC HALIM BIN SAAD Disposed 6,076,200 12 Apr 2017 SUMATEC HALIM BIN SAAD Disposed 3,000,000 11 Apr 2017 SUMATEC HALIM BIN SAAD Disposed 25,500,000 7 Apr 2017 SUMATEC HALIM BIN SAAD Disposed 10,000,000 7 Apr 2017 SUMATEC HALIM BIN SAAD Disposed 22,500,000 9 Jan 2017 SUMATEC HALIM BIN SAAD Disposed 6,000,000 9 Jan 2017 SUMATEC HALIM BIN SAAD Disposed 8,000,000 6 Dec 2016 SUMATEC HALIM BIN SAAD Disposed 19,000,000 6 Dec 2016 SUMATEC CHAN YOK PENG Disposed 36,799,000 2 Dec 2016 SUMATEC HALIM BIN SAAD Disposed 77,731,000 20 Jul 2016 SUMATEC HALIM BIN SAAD Disposed 46,000,000 11/12/2018 16:08 kenie SUMATEC - NEW ADMISSION INTO PN17 FINANCIAL CONDITION Kindly refer to the company's First Announcement pursuant to Practice Note 17 dated 30 April 2018. 11/12/2018 16:08 kenie SUMATEC halim saad Disposed 66,000,000 ( 474,178,800 shares 11.1500 %) halim saad selling....want ... 11/12/2018 16:08 apolloang u got 1 mil shares then can buy 1000 nestle.....u sendiri consolidation ar? if u bought sumatec 10cts one,nestle must up to rm1000 only u can make back lo.....hahaha 11/12/2018 22:26 5354_ HS disposed 25 million shares. Why ah? http://www.bursamalaysia.com/market/listed-companies/company-announcements/6003685 12/12/2018 13:18 armadatuah2017 Pn17 company. What to expect. 25 mil shares only worth less than 500K. Only can pay for his kitchen renov 12/12/2018 15:26 Darth If at all this company close down. It's about how HS manipulated using MELL and con stories. Dispose 25mill @ 0.015 when Khazakstan has a golden reserve? Aiyayooo. Apa pasal desprate Mau jual? 12/12/2018 16:24 Darth Saya agak-agak ini HS sulah ada main belakang loh. Apa pasal Mau jual 0.015? Tunggu MACC punya reports. Kasi tengok Losmak ada pakai HS (sama-sama pakai) kasi wang keluar? 12/12/2018 16:30 Darth The irony of the situation. When HS disposed 25mill shares @ 0.015, Who bought and pushed the price up to 0.02? 12/12/2018 16:34 Darth Got oil korek or not? 5 bulan ada lagi. Itu Bulsa punya olang can always come forward to clarify. If no Oil than most likely close shop Loh! 12/12/2018 16:38 Darth Guys. If got news that these idiots actually have a contract with Khazakstan digging oil than please share. If No than everyone from HS to SC are all at cahoots slowly shutting down Sumatec! 12/12/2018 16:42 pkmdirector Sumatec never die! Korek minyak after tomorrow! Sumatec HIDUP! Investor HIDUP! 12/12/2018 17:45 moneykjtwin hahahahahahahahahahaa!!! itu monyet, draganslayer punya 2 biji bola telah tenggelam!!!! 12/12/2018 22:21  moneypedia dragonball yangan mayin2 aaaa..ilu aku simpan pinya itu di planet namek ata lesing siatu kali nnti... 12/12/2018 22:54 pkmdirector If not a new boss, then who going to queue to buy so many share in open market? He/her buy half in the open market and half with exchange hand from major. 13/12/2018 11:05  KP8888KP apa ni?? jual sikit sikit, sikit sikit jual, nak jual tu biar jual banyak sikit !! Haiya... 13/12/2018 11:24 richkid Yes. Bought some at 1.5 sen. Anyway its just gambling. I know. Just come in to give my support to the old timers here. It is like pouring water into the desert sand but what the heck. We are just in for fun and weekend pocket money. haha. Its all time low already. Unless de-listed, it might be a chance to recovery from this point. 14/12/2018 20:43 Darth_ Don't dream got new buyer. 4 sen when HS disposed earlier also said new buyer where are they now? Better dispose 1.5 sen later 0.5 sen also cannot get when delisted. 15/12/2018 12:36 ANYU
If at all Sumatec close shop in 5 months time. This has to go down in Bursa Malaysia's history on how a counter can be manipulated for one's or a few associated for own benefits swindling the rest. https://youtu.be/Zbot3gF5MQA 15/12/2018 12:36  Buy1sell2 Well said. Both sides. Its a gamble. Lets see who win and who lose. Bear or Bulls...Come on 1.5 sen support can break??? If break then no hope. Ready to close shop. 15/12/2018 18:14  |
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