Highlights
KLSE: AMTEK (7051)       AMTEK HOLDINGS BHD Main Market : Consumer
Last Price Today's Change   Day's Range   Trading Volume
0.00   0.00 (0.00%)  0.00 - 0.00  0
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Overview

Market Cap: 9 Million
NOSH: 50 Million
Avg Volume (4 weeks):0
52 Weeks Range:0.08 - 0.37
52 Weeks Price Volatility (%):
0.00%
Average Price Target:-

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2018 [#2]  |  21-Feb-2019
Next QR | Est. Ann. Date: 31-Mar-2019  |  17-May-2019
T4Q P/E | EY: -3.15  |  -31.71%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.18  |  0.97
T4Q NP Margin | ROE: -33.64%  |  -30.61%

Headlines

Date Subject
11-Mar-2019 Mplus Market Pulse - 11 Mar 2019

Business Background

Amtek Holdings Bhd is an investment holding company. The company through its subsidiaries is engaged in manufacturing and trading of garments, safety, canvas and casual shoes. It also engaged in property investment activities. Majority of the revenue is derived from the trading of garments in Malaysia.
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  Rusli Widad likes this.
 
Musang King I asked. They dare not reveal anything. Hahahaaa
14/03/2019 4:47 PM
Musang King Hahahaa..Everything is strictly P&C in this world. We can be charged with insider trading if we get Directors to involve. Many people got charged already. If we want answers, we have to find them out our ownself through today's searches provided by the Bursa and SSM.
14/03/2019 5:07 PM
Musang King Extracted From the 2011 ANNUAL REPORT.

ACQUISITION OF A SUBSIDIARY COMPANY
On 26 May 2010, Amtek Garment Sdn. Bhd., a subsidiary company of the Company has entered into several sales
and purchases agreements to acquire the entire equity interest in Apparel International Sdn. Bhd. (formerly known as
Crocodile Sdn. Bhd.) (“Apparel International”), comprising 3,500,000 ordinary shares of RM1.00 each, representing
100% equity interest in Apparel International, for a total cash consideration of RM9,580,405.
The acquisition has been completed on 30 August 2010.
Details of net assets acquired are as follows:
Acquiree’s
carrying
Identifiable assets and liabilities value Fair value
RM RM
Property, plant and equipment 8,266,883 8,266,883
Investment properties 4,235,007 4,235,007
Inventories 22,655,013 19,580,105
Receivables 9,067,924 9,067,924
Taxation 494,680 494,680
Cash and bank balances 1,831,010 1,831,010
Deferred tax (liabilities)/assets (412,500) 355,000
Borrowings
- Bank overdraft (921,836) (921,836)
- Others (14,051,492) (14,051,492)
Payables (12,745,933) (12,938,525)
Identifiable net assets acquired 18,418,756 15,918,756
Excess of fair value of net assets acquired over purchase consideration (8,838,351) (6,338,351)
Purchase consideration 9,580,405 9,580,405
14/03/2019 6:01 PM
Musang King On top of paying cash on acquisition of 100% shares of Parallel International 3.5 Million Shares for RM9,580,405-00, Amtek had to bear all the Liabilities inside that company that amounted to Borrowings RM15 Millions but overall Amtek made an extra RM8.838 Millions as Excess of fair value of net assets acquired at that point of time.

Of course Amtek had to run the company at gain and mostly losses over the period of 9 years from 2010 to 2018. Based on willing buyer willing seller basis, the purchase consideration for Parallel International ( Formerly known as The Crocodile ) was RM2.737 per share for 3,500,000 shares in 2010 which was a Fair Value for Sale of Crocodile 3.5 Million shares.

As such, the Land Value remains stated at cost in Amtek Accounting Book until now.
14/03/2019 6:16 PM
Musang King Amtek 2011 Annual Report Page 98 Note 29(c) :

On 26 May 2010, Amtek Garment Sdn Bhd. (“Amtek Garment”), a wholly-owned subsidiary company entered
into several sales and purchases agreements to acquire the entire equity interest in Apparel International Sdn.
Bhd. (formerly known as Crocodile Sdn. Bhd.) (“Apparel International”) comprising 3,500,000 ordinary shares
of RM1.00 each, representing 100% equity interest in Apparel International, for a total cash consideration of
RM9,580,405. The acquisition has been completed on 30 August 2010.
14/03/2019 6:21 PM
Musang King It was an outright purchase for the whole company as a willing buyer willing seller basis for RM2-737 per share and later Amtek had to bear all the losses from 2011 to 2018 that leads to the eventual sales of the Crocodile business at a loss last year.
14/03/2019 6:25 PM
Musang King It is now clear that everything was explained clearly in the 2011 Annual Audit Report. The size of the land must be accepted according to what was reported year after year from 2011 to 2018 by their Accountants, Directors, Internal Audit Commitee and The External Auditors governed strictly by our Malaysian and International Accounting and Auditing Standards as required under the Companies Act 2016.
14/03/2019 6:40 PM
commonsense Hi amtek minorities,

It seems u have done ur research on this investment. Hope u are right. Sincerely wishing u the best.

Good luck. Hope everything turns out well.
14/03/2019 6:47 PM
Musang King Yes. Thank you very much. I am very sure of Amtek. Looking at the past events how they bought 100% of Crocodile Sdn Bhd. I am impressed they have made it for us. The way they are taking it private is now believable. Thank you for your blessing for the best. TQ.
14/03/2019 7:35 PM
Musang King Today 15-3-2019 is the last final day to appeal Bursa's delisting from Amtek's management. If there is no appeal, 18th March 2019 is the last day of trading Amtek shares in the market. By 20-3-2019, Amtek will disappear from Bursa senerio. Please be informed. Wait and see Amtek appeals or not today?

Want to sell, please sell today. Maybe Monday Bursa stop Amtek from trading already.
15/03/2019 4:35 PM
Musang King I have done my part to help in buying Amtek shares. I have no hidden agenda and I write with utmost honesty and I report what I found all through searches and due diligence. I even willing to buy at higher prices than the last traded price of RM0.175 if investors want to join me but I notice there was not much buyers but quite a number of sellers. That's all for the time being. I assume Amtek trading is now closed for good, without anymore appeal from the management. Thank you all for listening especially calvinteo, jowong and commonsense. Bye. Maybe see you again some other shares. Cheers.
15/03/2019 5:14 PM
calvinteo I bought some since 10 days ago.
15/03/2019 5:41 PM
jackfruit Minorites so confidence ah..Amtek management cannot be trusted. They are thives. once delisted they will quitely shift Amtek registered office to Tanjong Rambutan and strip all the assets to their nominee. U think u can get your money back.
15/03/2019 7:03 PM
jowong7 PROPOSED DISPOSAL BY AHB OF ITS ENTIRE EQUITY INTEREST IN AMTEK
REALTY SDN BHD (“ARSB”), A WHOLLY-OWNED SUBSIDIARY OF AHB TO
COMMERCE DOT COM SDN BHD (“CDC”) FOR A TOTAL CASH CONSIDERATION OF
RM4,600,000 (“PROPOSED DISPOSAL”)


ARSB owns Wisma Amtek, a six and a half (6 ½) storey office building with two (2) storey warehouse annexed, basement car park and a guard house with a total gross built-up area of about 16,040 square meters (“sq mt”) within a piece of 99 years leasehold land (expiring on 29 December 2056) held under title, PN 10317, Lot 81, Section 20, Town of Petaling Jaya, District of Petaling, Selangor Darul Ehsan measuring approximately 7,479 sq mt. The building was issued with a certificate of fitness for occupation on 31 October 1998. Presently, AHB and its subsidiaries (“AHB Group”) occupy part of the fourth (4 th) floor of Wisma Amtek as its corporate office. The AHB Group also uses the warehouse of Wisma Amtek for storage of its stocks. The other floors of Wisma Amtek are presently rented to various tenants.

Amtek minorities...please read the word annexed warehouse. The current MPH warehouse were sold all-together with Wisma Amtek in 2010 to COMMERCE DOT COM SDN BHD. I know you have done a lot of searches but somehow I found all these information can't be ignored.
16/03/2019 12:14 PM
Musang King Correct.

I have told you Amtek Sold away Amtek Realty (ARSB) to Commerce.Dot.Com for a Purchase Consideration of RM4.6Million in 2010 as reported in the Audit Report 2011 and at the same time bought over Crocodile (M) Sdn Bhd ( Changed name to Apparel International Sdn Bhd) for RM9.580 Million as Purchase Consideration the same year.

@ jackfruit - There is nothing fishy about the report and everything was in order.

@commonsense - The land that the current MPH is using still belongs to Amtek covering a vast area of 28,328 sq mtr. as all reported in the Audited Reports from 2011 onwards right up to 2018.
16/03/2019 6:38 PM
Musang King @calvinteo - congratulations for successfully buying into Amtek on the last few days. I tried very hard to tell the investing public about Amtek's valuable assets but until now, very few people listened to me. Nevermind, as Jack Ma said, he tried very hard to tell people the truths about making money but nobody believes him. Hahahahaaaa...
16/03/2019 6:43 PM
jackfruit Minorities once Amtek delisted hope u can keep follow up with the management.otherwise it will be like promet.
16/03/2019 7:53 PM
jowong7 please google map Apparel International Sdn Bhd. take a look at the photo of Apparel International Sdn Bhd or Crocodile factory. the address clearly stated 12-K, Jalan Tandang,Seksyen 51, 46050 Petaling Jaya, Selangor Darul Ehsan. everything is very clear.
16/03/2019 8:47 PM
jowong7 u can decide whether this piece of property is a 7 acres warehouse.
16/03/2019 8:58 PM
dompeilee Suspended! Good riddance...another 50 mil shares supply taken off the market!

Thanks for the profit I earned from you in 2014! & thanks for the nice AGM food in Nov '14! =)
18/03/2019 11:18 AM
Musang King Further to the Company’s announcement dated 8 March 2019 and 11 March 2019, the Board of Directors of Amtek wishes to announce that Amtek will not be making an appeal to Bursa Malaysia Securities Berhad (“Bursa Securities”) in respect of Bursa Securities’ decision to de-list Amtek from the Official List of Bursa Securities. Therefore, the securities of the Company will be removed from the Official List of Bursa Securities on Wednesday, 20 March 2019.



With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.



Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates, can withdraw these securities from their Central Depository System (“CDS”) accounts maintained with Bursa Depository at any time after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisations of Bursa Securities and/or Bursa Securities General Line at 03-2034 7000 for further information on the withdrawal procedures.



Upon the de-listing of the Company, Amtek will continue to exist but as an unlisted entity and the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.





This announcement is dated 15 March 2019.
18/03/2019 4:27 PM
Musang King As Expected. A good move at the expense of a Public Listing in BSKL. Syabas, AMTEK Directors and Management. We now all rely on you all to do a good job for us Minorities. Do not let us down. Thank you.
18/03/2019 4:31 PM
afterlight Bye Amtek, bye Amtek Minorities
20/03/2019 12:37 PM
Musang King Officially, Amtek is now delisted today 20-March-2019.
20/03/2019 2:57 PM
Musang King Privatization
Making a public company private is a relatively simple maneuver that typically involves fewer regulatory hurdles than there are with private-to-public transitions. At its most fundamental basis, the private group makes an offer to the company and its shareholders, stipulating the price they are willing to pay for the company's shares. If a majority of the voting shareholders accept the offer, the bidder then pays the consenting shareholders the purchase price for every share they own.
25/03/2019 6:36 PM
Musang King Waiting to attend their AGM. Must attend if any of you is still having Amtek Shares.
25/04/2019 6:17 PM
ElloMate Hi @Beststock pertaining to the bit about Syed Azmin's unearthly behaviors being spread on social media, could you provide some context?
23/05/2019 10:52 PM
Musang King SYED AZMIN unearthly behaviours should be reported to our SSM and Securities Commission for taking Amtek private without letting the investors a choice to decide. By now, he should tell the investors what he should do with Amtek's assets and the monies inside the company. We should demand that either he himself buys over all the shares that he does not own or the Amtek itself buys back its own shares after re-valuation of all its assets by using its own money. SSM or SC should DO SOMETHING here to help release those INVESTORS got trapped by SYED AZMIN and his group of people.
07/06/2019 4:06 PM
Musang King SELAMAT HARI RAYA SYED MOKHTAR & SYED AZMIN. SALAM AIDILFITRI DAN MOHON MAAF ZAHIR & BATIN.
08/06/2019 5:13 PM
Musang King Amtek got delisted. They never inform or contact the minority shareholders to update what is happening inside the group. SC just made don't know. Amtek Management made don't know. This is the status a a Delisted Public Entity in Malaysia.
13/09/2019 3:55 PM
Musang King Just feeling the company secretary is sitting there doing nothing from date of delisting until now. No News.
13/09/2019 3:58 PM
Musang King AGM is coming soon in November 2019.
05/10/2019 5:00 PM
Musang King Notice of AGM received 29th Nov 2019. Date of AGM is 17 Dec 2019 Tuesday at 11.45am but printed wrongly as 11.45pm. ( Nevermind the time of AGM printed inside on the next page is 11.45am ).
03/12/2019 7:36 PM
Musang King Notice something missing inside the Annual Report. Will read through and report later.
03/12/2019 7:37 PM
Musang King No mention of 2 most important things. 1. The current shareholders listing . and 2. The Properties listings in the latest report are missing. Even though, the company is delisted, these 2 informations are very vital and important. I appeal to the SECURITIES COMMISSION to look into these missing information which can give rise to ambiguity and misunderstanding. How can a delisted company has no share holders names all missing. The properties listing is missing as well. FUNNY..
05/12/2019 3:30 PM
Musang King However, the properties of the Group are only declared as Assets not carried at fair value Investment Properties at Level 3 amounting to RM6,334,142 Net Figure. The New Figure or The Fair Figure can only be revealed when there is a Transaction or Transfer occuring if any in the future. Based on the Report on Page 90, Valuation processes applied by the Group for Level 3 fair value for assumptions i & ii are IRRELEVANT. PLEASE READ CAREFULLY.
05/12/2019 3:41 PM
Musang King There is no communication between the Shareholders of Amtek Holdings Berhad after the Group was delisted from the Main Market of Bursa Malaysia Securities on the 20th March 2019. This i3 investor.com is the only place we can voice our opinion. I have to convey my Thanks to i3 investor.com for continue to let us read and post news and opinions even though we minorities are left behind like nobody business ( Securities Commission and The Minorities Group Watch Dogs also do not bother to take care of us ) after Amtek Holdings Berhad was delisted. So Sad. I hope the present Government should take into consideration the plight, interest and opinion of the Minorities Shareholders after a Public Listed Company like Amtek Holdings Berhad was delisted.
06/12/2019 5:22 PM
Ding HL Allan The Board should continue to stress its overall responsibilities for maintaining and ongoing reviews of the adequacy and integrity of its Group’s system of internal control to ensure that the shareholders’ investment and Group’s assets are safeguarded.
The Company’s Statement on Risk Management and Internal Control is Not included in the annual report for the financial year ended 30 June 2019.
07/12/2019 1:03 PM
Ding HL Allan The website of Amtek Holdings Berhad is not updated @ today 07/12/2019. The communication between the shareholders and the board of directors are zero.
07/12/2019 1:06 PM
Ding HL Allan No mention of any current shareholders statistic and no mention of the group assets and properties are almost amount to fraud and open cheating of the public who invested in the company before delisting. I also appeal to the Securities Commission, the Bank Negara, the SSM and the commercial crime police department to question their motive of delisting.
07/12/2019 1:10 PM
Ding HL Allan The current usage of the 7 acres land in Petaling Jaya is also a big question mark. 7 acres of prime commercial land beside DHL Express and Continental Tyres only attracted slightly over RM200,000-00 in their income. What and how it can happened? Please answer this question to our current shareholders. If they take the group private and delisted, their intention of their land usage was changed to their own director's use, we should duly request that they buy over the properties and declare the true and fair value of the land according to the current market price. Why didnt they do that???????????????????????????????????????????????????
07/12/2019 1:19 PM
Ding HL Allan After delisting, it does not mean that the management and directors can do according to what they like without thinking of all the minority shareholders. SC , SSM and Bank Negara please take note of Amtek Holdings Berhad. Something is definately hiding inside their agenda. Even the current Notice of AGM for this year is less than 28 days.
07/12/2019 1:23 PM
Ding HL Allan Malaysian Minorities Watch Dogs, you are failing the people and investors of Malaysia. How shameful of you.
07/12/2019 1:25 PM
Musang King YES. Truly shameful of The MSWG - MALAYSIAN MINORITY SHAREHOLDERS WATCHDOG GROUP. They think any Public Listed Companies just got delisted, nothing to do with them. They are wrong and they just want to shred off their Watchdog duty just like that. That's it. WHAT A SHAME? Really shameful, They should continue helping the Minoritiy Shareholders instead of leaving them with the unlisted group. WHAT A SHAME ON YOU, MSWG.
07/12/2019 6:58 PM
Ding HL Allan Amtek now is a piece of cake. Wherher it is a big cake or a small cake, the directors should now invite us to take a look on this piece of cake and share. Remember, sharing and caring and no one should be selfish. This piece of cake is not small. It is 7 acres in size situated in PJ old town. We want to know more on who resides on the land, what and how we can make use of the land. Be transparent. OK.
08/12/2019 11:39 AM
Musang King YES. SHARING IS CARING. MAY PEACE AND BLESSING BE UPON TUAN SYED AZMIN.
09/12/2019 3:32 PM
Musang King AGM TOMORROW 17/12/2019 AT 11.45AM. SEE YOU THERE.
16/12/2019 4:38 PM
Ding HL Allan Amtek shareholders meeting today must be attended fully today because we are discussing the winding up of the group or the sale of your shares back to the group. The meeting can be very heated if the group is not treating the minorities fairly. Meeting starts at 11.45am today. Reporters and Shareholders, please be informed. Thank you.
17/12/2019 9:13 AM
Musang King jackfruit : Minorites so confidence ah..Amtek management cannot be trusted. They are thives. once delisted they will quitely shift Amtek registered office to Tanjong Rambutan and strip all the assets to their nominee. U think u can get your money back.
15/03/2019 7:03 PM................. jackfruit, you may be correct by what you said before the de-listing date. I take note of this matter. It is indeed serious. Very very serious.
24/12/2019 4:08 PM
Musang King Jackfruit may have known something inside before hand that we do not know. We were so ignorant.
24/12/2019 4:16 PM


 

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