Is Feeding on own flesh legal and healthy? Bursa Cannibal Legalised?

21 Dec17: Protasco Bhd received RM442.68 mil PPA1M project LOA jointly with Kop Mantap Bhd.

MH370B
Publish date: Thu, 21 Dec 2017, 09:06 PM
MH370B
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If a PLC conduct self-cannibal, by feeding on own flesh, is it legal and healthy? Gear up loan to pay "salaries and dividend" seems to give impression to investors there is "a lot to eat on table", but is this commercial form of self-gratification? Don't need to ask a master in law. Ask your mother, she may explain better if you shall chew your own finger for dinner.
Following Message

21 December 2017 - Construction and road maintenance company Protasco Bhd (Bursa 5070) today announced receive of letter of award from unit perumahan penjawat awam 1Malaysia, Jabatan Perdana Menteri.

According to Protasco, the letter of award is to construct 1,681 unit apartments in the Federal Territory of Putrajaya under the Pembangunan Projek Perumahan Penjawat Awam 1Malaysia (PPA1M) [1Malaysia Civil Servants Housing Programme] (“Project”).    

Protasco Development Sdn Bhd will undertake the Project jointly with Kop Mantap Berhad at a ratio of 51% (Protasco Development Sdn Bhd) and 49% (Kop Mantap Berhad).

The Project with a gross development cost of RM442.68 million is expected to contribute positively to the future earnings of Protasco Group. The Project however will not have any material impact on the net assets and earnings of Protasco Group for the financial year ending 31 December 2017.

Protasco mentioned none of the Directors, major shareholders of the Company or persons connected with them have any interests, direct or indirect, in the Project.

Market in hope the new project will improve the bottom line of Protasco Bhd in the near future.

 

Bursa NewsLink

 

News: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5644873

 

PROTASCO BERHAD

 

Type Announcement
Subject OTHERS
Description 
LETTER OF AWARD FROM UNIT PERUMAHAN PENJAWAT AWAM 1MALAYSIA, JABATAN PERDANA MENTERI

Protasco Berhad (“Protasco’ or “Company”) is pleased to announce that Protasco Development Sdn Bhd, a wholly owned subsidiary of the Company has received a Letter of Award from Unit Perumahan Penjawat Awam 1Malaysia, Jabatan Perdana Menteri, to construct 1,681 unit apartments in the Federal Territory of Putrajaya under the Pembangunan Projek Perumahan Penjawat Awam 1Malaysia (PPA1M) [1Malaysia Civil Servants Housing Programme] (“Project”).   

Protasco Development Sdn Bhd will undertake the Project jointly with Kop Mantap Berhad  at a ratio of 51% (Protasco Development Sdn Bhd) and 49% (Kop Mantap Berhad).     

The Project with a gross development cost of RM442.68 million is expected to contribute positively to the future earnings of Protasco Group. The Project however will not have any material impact on the net assets and earnings of Protasco Group for the financial year ending 31 December 2017. 

None of the Directors, major shareholders of the Company or persons connected with them have any interests, direct or indirect, in the Project.



 

Announcement Info

Company Name PROTASCO BERHAD
Stock Name PRTASCO
Date Announced 21 Dec 2017
Category General Announcement for PLC
Reference Number GA1-21122017-00054

 

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