14 September 2017 - Property and construction company Protasco Bhd announced today entry into Sri Lanka for construction and infrastructure projects. Protasco subsidiary HCM Engineering Sdn Bhd has incorporated a wholly own subsidiary in Sri Lanka, known as HCM Builders Lanka (Private) Limited with a registered capital of 100,000 Sri Lankan (approximately RM2,700).
According to Protasco announcement to Bursa Malaysia, The intended business activities of H C M Builders are mainly to undertake construction and infrastructure works in Sri Lanka. The investment in H C M Builders is not expected to have a material effect on the earnings or net assets of the Protasco Group for the year ending 31 December 2017.
Protasco Bhd business except the road maintenance concessions inherited from Protasco former political-linked owner, over the years the management had failed most of Protasco ventures abroad. According to Bursa Malaysia past announcements, Protasco had failed in projects from South Africa, Libya, Syria, China Hainan, Cambodia and of cause Indonesia. The last venture in Indonesia oil & gas was a disaster which turns into devastating shareholders fights, where the market believe Chong manufactured blame and fabricated charges on Ooi Kock Aun & Tey Por Yee which landed Chong with the control of Protasco Bhd.
With Protasco past track record, the market is skeptical of the company latest entry into Sri Lanka. If the ugly Sri Lanka dance fails to impress shareholders, wonder who will be next scapegoat for Chong to blame? One thing is for sure - Chong Ket Pen will hide behind Protasco Bhd when hot spoiled curry chicken shoots up the roof.
Protasco Bhd share price tanked the next day after the Bursa Malaysia announcement.
FiNews feat bursaLink
Source: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5543705
OTHERS INCORPORATION OF A NEW SUBSIDIARY IN SRI LANKA
Announcement Info
|
Company Name |
PROTASCO BERHAD |
|
Stock Name |
PRTASCO |
|
Date Announced |
14 Sep 2017 |
|
Category |
General Announcement for PLC |
|
Reference Number |
GA1-14092017-00055 |
antiPolitik
What is Chong Ket Pen doing with (his) pathetic HOPO Museum show? It's a sham to Hakka people using sinful money he cheated from Protasco shareholders and paid to his nose to cover up his wrongdoing.
https://musuhnegara.wordpress.com/2017/09/14/chong-ket-pen-hopo-museum-show-a-devil-blogger-show-he-acts-as-an-angel-so-disgusting-how-to-write-a-blog-girl-diary/
Chong Ket Pen leaving loads of dirts to his HOPO Hakka people, especially his sons Chong Ther Nen, Chong Ther Vern, Chong Ther Shen. Shame to Hakka community.
2017-11-26 12:45