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Overview
Financial Highlight
Headlines
Business Background Industronics Bhd is primarily engaged in design and manufacturing of electronic products. It operates through following segment namely Electronics & System integration, Security systems, mechanical & electrical engineering and other production. The firm's presence can be seen in HongKong, Singapore, and Malaysia. Majority of its revenue comes from Other operation.
 Be the first to like this.   dompeilee dompeilee Bought Itronic @ 11c 05/08/2020 3:25 PM SOLD 62% of my position @ 34.5c this morning. 04/09/2020 4:14 PM lazaruths Joyce Chew > are you sure it can make 0.5? they keep dumping the price for the past three days. I lost -10.3% 04/09/2020 8:11 PM shinchan123 u guys are dumb. those 'buy call' guys are shark. askiing u to take over their expensive shares. if u believe them pls go ahead, i would rather take my money buy lottery 04/09/2020 10:48 PM takeprofitlah this counter suka tipu orang punya. you sell when you see the sell signal and then suddenly price will go up like crazy. be very careful with this counter 05/09/2020 12:06 PM zhm540 buy and keep for long term... low NOSH... with good 5G business, it will fly... but now, sharks probably are swimming around... 07/09/2020 9:47 AM takeprofitlah behold my friends. something good is coming. you can see how strong this counter today. 07/09/2020 7:35 PM shinchan123 shinchan123 u guys are dumb. those 'buy call' guys are shark. askiing u to take over their expensive shares. if u believe them pls go ahead, i would rather take my money buy lottery 04/09/2020 10:48 PM 10/09/2020 4:30 PM Flyingwithwings http://www.klsescreener.com/v2/announcements/view/3226341 1. INTRODUCTION Pursuant to Paragraph 10.05 of the MAIN Market Listing Requirements of Bursa Malaysia Securities Berhad (“Listing Requirements”), the Board of Directors of ITRONIC wishes to announce that the Company had on 9 September 2020 entered into a Share Sale Agreement (“SSA”) with Mr. Pan Jiye (“the Purchaser”) for the disposal of 100% equity interests in Industronics (HK) Limited (“IBHK”) which comprises 1 ordinary shares of HKD1.00 per share (“IBHK Sale Shares”) to the Purchaser for a total cash consideration of HKD1.00 (“Consideration”) (hereinafter referred to as “Disposal”). In consequence thereof, IBHK has ceased to be a subsidiary of the Company. 2. DETAILS OF THE DISPOSAL 2.1 Information of IBHK IBHK was incorporated in Hong Kong on 7 March 2013 as a private limited company under the Companies Act. IBHK is principally engaged in the businesses of trading of watches. The current authorised share capital of IBHK is HKD1.00 comprising 1 ordinary shares of HKD1.00 each. IBHK’s issued and paid-up share capital is 1 ordinary shares of HKD1.00 each. Based on its audited financial statements for the financial year ended 31 December 2019, IBHK recorded a profit after taxation of HKD 2,980,292 with a net liabilities of HKD 43,370,927 and accumulated losses of HKD 43,370,928. 2.2 Basis and Justification for the Consideration The Consideration of HKD1.00 is arrived at after taking into consideration the net liabilities of IBHK at 31 December 2019 of HKD 43,370,927 and the amount owing by IBHK to the Company of HKD 40,516,703 at 31 December 2019. 2.3 Information on the Purchaser Mr. Panjiye, holder of passport number EG 9139748, is a citizen of the People’s Republic of China. 2.4 Liabilities to be assumed Save for the liabilities stated in IBHK’s accounts, there are no other liabilities, including contingent liabilities and guarantees, to be assumed by the Purchaser pursuant to the Disposal. 3. RATIONALE FOR THE DISPOSAL The Disposal is in line with the Group’s (i.e. the Company and its subsidiaries) overall objective to streamline its operations by disposing loss-making subsidiaries and to continuously attempt to enhance shareholders’ value. 4. FINANCIAL EFFECTS OF THE DISPOSAL 4.1 Share Capital and Shareholding Structure of the Substantial Shareholders The Disposal will not have any effect on the issued and paid-up share capital and shareholding structure of the substantial shareholders of ITRONIC. 4.2 Earnings, Net Assets and Gearing The Disposal will result in an estimated gain on disposal of RM1,868,839 (HKD 3,477,634) for the financial year ending 31 December 2020, after taking into consideration the net liabilities of IBHK. 5. APPROVAL OF SHAREHOLDERS The Disposal does not require the approval of the Company’s shareholders as the highest percentage ratio pursuant to paragraph 10.02(g)(vi) of the Listing Requirements is 7.74%, based on the total assets of IBHK over the total assets of the Group. 6. INTEREST OF DIRECTORS, SUBSTANTIAL SHAREHOLDERS AND CONNECTED PERSONS None of the directors and/or major shareholders of ITRONIC as well as persons connected with them have any interest, direct and/or indirect in the Disposal. 7. STATEMENT OF THE DIRECTORS The Board of Directors of the Company is in the opinion that the Disposal is in the best interest of the Company and its shareholders. 8. DOCUMENT FOR INSPECTION The SSA is available for inspection at the registered office of ITRONIC at No. 9A, Jalan Medan Tuanku, Medan Tuanku, 50300 Kuala Lumpur, Malaysia during normal business hours on Mondays to Fridays (except public holidays) for a duration of three (3) months from the date of the announcement. This announcement is dated 9 September 2020. 10/09/2020 5:00 PM Flyingwithwings https://www.klsescreener.com/v2/announcements/view/3226341 The Board of Directors of IB wishes to announce that the Company had on 15 September 2020 acquired a new wholly-owned subsidiary, namely All Best Group Limited [Company No.: 2942499] (“All Best”) for the purpose of operating E commerce business and target market is South East Asia. All Best was incorporated in Hong Kong on 18 May 2020 under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) with an issued share capital of HKD1.00 divided into 1 ordinary share. The Director of All Best is Mr. Khoo Hoi Hin, Hong Kong citizen. The acquisition of All Best is not expected to have any material effect on the earnings or net assets of IB for the financial year ending 31 December 2020. None of the directors or substantial shareholders of IB or persons connected to them have any interest, direct or indirect, in the acquisition of All Best, save except through IB. This announcement is dated 15 September 2020. 15/09/2020 7:22 PM zhm540 This is small cap stock and with good business, it should be able to fly easily. problem being small is the volume is small, so if you buy big and want to play contra, you would have a problem to exit. Best is to buy small and keep for a week at least. see the pattern. It hit 37-38 last time, so there is a potential to go there again. 21/09/2020 9:44 AM Flyingwithwings Last time it even touch 400. but now the TA is nice. hopefully can maintain the uptrend 21/09/2020 5:21 PM Softjamiela Can any one enlighten what's actually wrong with this company pls? Was thr any announcement that i missed lately 30/09/2020 10:06 AM zhm540 it has been down so much since the peak of 39s and looks ready for possible rebound... time to accumulate but need to hold for some time 30/09/2020 11:49 AM speakup itronic is gtronic little brother itronic is cheapest entry to red hot tech sector 07/10/2020 10:42 AM zhm540 Apple will ship 50 mill 5G iphone within a year, more than all other phone manufacturers combined. That means, iphone will set the race for 5G technology and Itronic is already in that. 14/10/2020 11:15 AM zhm540 top 3 shareholders own more than 50% of shares. the remaining is with public.. that is why volume is low... 22/10/2020 10:15 AM zhm540 no rush to buy... plenty of retailers willing to sell to you at your price.. 23/10/2020 3:38 PM | |
