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2020-06-19 23:54 | Report Abuse
Court Case with ex Executive Director cum COO Dato William Tan :
ii) WZ Satu Berhad - Writ of Summon and Amended Statement of Claim (High Court at Shah Alam Civil Suit No. BA-22NCVC-469-10/2019)
Plaintiffs: Dato' William Tan Chee Keong and Mr. Choi Chee Ken
Defendant: WZ Satu Berhad
On 8 November 2019, the Company received a Writ of Summon ("the Writ") and Amended Statement of Claim, all dated 24 October 2019 from the Plaintiffs ("the Statement of Claim") through their solicitor. Pursuant to the Writ and the Amended Statement of Claim, the Plaintiffs are claiming for breach of Share Sale Agreement dated 10 January 2014 ("SSA") in relation to the acquisition of WZS BinaRaya Sdn Bhd ("Target Company") to conduct a special audit in order to verify the final aggregate financial result of the Target Company for the Guaranteed Period.
Consequently the Plaintiffs are seeking for RM34,084,500 representing the continuing loss of value of Security Shares, Bonus Shares and Warrants from 24 October 2019 until the date of the Order (if any), alternatively, the damages to be assessed by the Court; interest at the rate of 5% per annum, costs of the action to be paid to the Plaintiffs and such other relief as determined by the Court.
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2020-06-19 23:53 | Report Abuse
Material Litigation
(i) Arbitration between PT Technic Engineering Sdn Bhd ("PT Technic") ("Claimant") as a sub- contractor to WZS Misi Setia Sdn Bhd (a wholly-owned subsidiary of the Group) ("MISI") for resolution of disputed payments due in relation to a mechanical and piping work project.
(a) That MISI shall pay the sum of RM4,343,706.82 to PT Technic in full and final settlement of all matters in difference with reference to PT Technic's claim for work and additional works referred to the Arbitrator in this Arbitration;
(b) That MISI shall pay interest at the rate of 5% simple interest per annum on the sum of RM4,343,706.82 from 29 November 2019 until the actual realisation of the said payment by MISI to PT Technic;
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2020-06-19 23:53 | Report Abuse
In latest Q2 report :
Cash on hand and at banks 24,415,000
Deposits with licensed banks 23,970,000
Cash and bank balances 48,385,000
Less: Bank overdrafts ( 12,018,000 )
Less: Deposits pledged to licensed banks
( 2,948,000 )
Cash and cash equivalents 33,419,000
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2020-06-19 21:53 | Report Abuse
FY16 : revenue RM466 mil , Profit RM 22.9 mil
FY17 : revenue RM560 mil , Profit RM 25.3 mil
FY18 : revenue RM502 mil , Loss(RM 84.2 mil)
FY19 : revenue RM389 mil , Loss( RM 94.3 mil)
FY20 (2Q) : revenue RM 151 mil , Loss (RM 18.1 mil )
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2020-06-19 21:37 | Report Abuse
Wzsatu is not one of the 3 local companies that have applied for the Gebeng licence.
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2020-06-19 21:34 | Report Abuse
Notice of Person Ceasing (Section 139 of CA 2016)
WZ SATU BERHAD
Particulars of Substantial Securities Holder
Name LEMBAGA TABUNG HAJI
Address 201, Jalan Tun Razak,
Kuala Lumpur
50400 Wilayah Persekutuan
Malaysia.
Company No. Act 535 (Tabung Haji Act 1995)
Nationality/Country of incorporation Malaysia
Descriptions (Class) Ordinary Shares
Date of cessation 28 Dec 2018
Name & address of registered holder Lembaga Tabug Haji
201, Jalan Tun Razak,
50400 Kuala Lumpur,
Wilayah Persekutuan
No of securities disposed 43,498,672
Circumstances by reason of which a person ceases to be a substantial shareholder Transfer of shares to Urusharta Jamaah Sdn. Bhd. as a result of the restructuring exercise.
Nature of interest Direct Interest
Date of notice 28 Dec 2018
Date notice received by Listed Issuer 07 Jan 2019
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2020-06-19 21:33 | Report Abuse
Notice of Person Ceasing (Section 139 of CA 2016)
WZ SATU BERHAD
Particulars of Substantial Securities Holder
Name URUSHARTA JAMAAH SDN BHD
Address Tingkat 7, Bangunan Setia 1,
15 Lorong Dungun,
Bukit Damansara,
Kuala Lumpur
50490 Wilayah Persekutuan
Malaysia.
Company No. 201801045610 (1307642-V)
Nationality/Country of incorporation Malaysia
Descriptions (Class) Ordinary Shares
Date of cessation 24 Mar 2020
Name & address of registered holder Citigroup Nominees (Tempatan) Sdn Bhd
Level 42, Menara Citibank,
165, Jalan Ampang,
50450 Kuala Lumpur,
Wilayah Persekutuan
No of securities disposed 9,428,192
Circumstances by reason of which a person ceases to be a substantial shareholder (1) Transfer of shares from Citigroup Nominees (Tempatan) Sdn Bhd - Urusharta Jamaah Sdn Bhd (1) to Citigroup Nominees (Tempatan) Sdn Bhd - Urusharta Jamaah Sdn Bhd (Amundi 1)
(2) Disposal of shares by Citigroup Nominees (Tempatan) Sdn Bhd - Urusharta Jamaah Sdn Bhd (Affin 1)
(3) Disposal of shares by Citigroup Nominees (Tempatan) Sdn Bhd - Urusharta Jamaah S B (Franklin 1)
Nature of interest Direct Interest
Date of notice 25 Mar 2020
Date notice received by Listed Issuer 27 Mar 2020
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2020-06-19 21:31 | Report Abuse
Referring to Q2 report ended Feb'2020 :
However, the uncertainty on commencement date of a single project may affect the results
of the Group. The bauxite mining operation has not resumed todate, however, the Group is exploring other
mining opportunities.
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2020-06-19 21:31 | Report Abuse
>> Later, Dr Xavier told reporters outside the Parliament that at least three companies have applied for the Gebeng licence.
"They are all local companies," he said. Dr Xavier said they are required to adhere to a sizeable capital expenditure requirement considering the stringent SOP proposed.
"After they follow the requirements for the SOP, they will send a letter to the ministry to obtain the licence," Dr Xavier said.
Dr Xavier expects the government to issue its first bauxite mining licence under the new SOP at the earliest by January 2020, from which the six-month pilot period will commence.
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2020-06-19 21:30 | Report Abuse
KUALA LUMPUR (Nov 4): The Malaysian government expects to start issuing bauxite mining and export licences again in January 2020 since the ban on such activities in Pahang was lifted in April 2019.
Water, Land and Natural Resources Minister Dr Xavier Jayakumar said in Parliament here today the licence, which will be part of a six-month pilot to test a new standard operating procedure (SOP) covering pre-to-post bauxite mining, will only allow such operations to be undertaken in Gebeng, Pahang, in the initial stage.
Dr Xavier said the government will reevaluate the implementation of the SOP before allowing licensees to undertake bauxite mining across Pahang.
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2020-06-11 05:59 | Report Abuse
Summary
Market Cap: 67 M.
Number of Shares: 124 M.
Float: 99.65%.
Although number of issued shares is relatively small but Float % is high .
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2020-06-10 22:49 | Report Abuse
6 years Revenue & Profit Trend :
FY14 : 1022 mil, Profit = 3.53 mil , 0.3 %
EPS = 0.95 sen
FY15 : 1054 mil , Profit = 10.1 mil, 1.0 %
EPS = 8.09 sen
FY16 : 1036 mil , Profit = 3.3 mil, 0.3 %
EPS = 2.64 sen
FY17 : 1109 mil , Loss = ( 3.3 mil , 0.3 % )
FY18 : 1129 mil , Loss = ( 6.8 mil , 0.6 % )
FY19 : 1135 mil , Loss = ( 6.9 mil , 0.6 % )
>>>>>
Latest 3 Financial Year is at Loss , No P/e ratio ..
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2020-06-10 22:47 | Report Abuse
PPE : 176,427,000
Cash and cash equivalents: 88,009,000
Long term borrowing: 17,383,000
Short term borrowing: 163,299,000
Gearing ratio : 0.683
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2020-06-10 22:47 | Report Abuse
and still need intensify diversification, the sudden surge high demand of nitrile medical gloves is expected to be ease by end of this year .
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2020-06-10 22:44 | Report Abuse
referred to FY19 audited annual report:
The Industrial Division will continue organically grow its core business and intensify diversification efforts into the LATEX glove chemicals and food chemicals segment.
>>> is Latex glove chemicals... is not Nitrile medical gloves which is in sudden high demand due to Covid-19 Pandemic.
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2020-06-10 22:43 | Report Abuse
CFO is changed 3 times in less than 1.5 years :
29/5/2020 : CFO is resigned .
22/5/2020 : Dato Danny , Non Exec. Director will be resigned on 25/6/2020
1/1/2020 : CFO is resigned .
23/4/2019 : ED is retired at age 59 .
1/1/2019 : CFO is retired at age 60 .
17/10/2018 : Deputy Chairman is resigned.
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2020-06-10 22:43 | Report Abuse
BOD tussle? After 2014 Texcorp shares disposal announcement ...FY17 , FY18, FY19 is at Loss .
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As at to-date, Texcorp, a 73.94% owned subsidiary of TRB, holds 18,144,309 ordinary shares in TRB, representing 15.05% of the total number of issued shares of TRB (“TRB Shares”).
Pursuant to Section 22(5)(b) of the Companies Act 2016 (“Act”), Texcorp is required to dispose of all its shareholding in TRB within twelve (12) months or such longer period as the Companies Commission of Malaysia (“CCM”) may allow. Following thereto, Texcorp has on 14 April 2020 submitted an application to CCM for an extension of time to dispose of the TRB Shares.
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2020-06-10 22:42 | Report Abuse
We refer to the announcements made by Texchem Resources Bhd. (“TRB”) on 6 May 2014, 12 May 2015, 29 April 2016, 15 May 2017, 9 November 2017, 27 April 2018, 8 November 2018, 10 May 2019 and 4 November 2019 in relation to the above matter.
As at to-date, Texcorp, a 73.94% owned subsidiary of TRB, holds 18,144,309 ordinary shares in TRB, representing 15.05% of the total number of issued shares of TRB (“TRB Shares”).
Pursuant to Section 22(5)(b) of the Companies Act 2016 (“Act”), Texcorp is required to dispose of all its shareholding in TRB within twelve (12) months or such longer period as the Companies Commission of Malaysia (“CCM”) may allow. Following thereto, Texcorp has on 14 April 2020 submitted an application to CCM for an extension of time to dispose of the TRB Shares.
The Board of Directors of TRB wishes to announce that Texcorp has on 7 May 2020 received the letter of approval dated 4 May 2020 from the Registrar of CCM for a further extension of time of six (6) months to comply with Section 22(5)(b) of the Act, namely the new deadline for Texcorp to dispose of the TRB Shares is 15 November 2020. Pending the disposal of the TRB Shares, Texcorp shall have no right to vote at meetings of TRB or any class of members of TRB.
The aforesaid approval granted by CCM is conditional upon Texcorp lodging the duly executed and affirmed original documents, which were previously submitted to CCM via e-mail, and payment of RM100 lodgment fee to CCM within 30 days from the end of the Movement Control Order in Malaysia (“MCO”). Texcorp has undertaken to fulfil the above conditions as soon as the MCO is lifted.
This announcement is dated 8 May 2020.
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2020-06-10 22:38 | Report Abuse
Texchem Resources Bhd., an investment holding company, primarily is engaged in the trade of industrial chemicals and other products. Its Industrial segment is engaged in the trade of dyestuffs, textile auxiliaries, plastic resins, and chemicals used in the electronics, plastics, and other manufacturing industries. This segment operates principally in Malaysia, Thailand, Singapore, Myanmar, Indonesia, Vietnam, and the People's Republic of China. The company's Food segment manufactures and sells surimi, fishmeal, and other marine products, as well as operates a chain of retail sushi outlets. This segment operates principally in Malaysia, Myanmar, and Italy. Its Packaging segment is engaged in the manufacture and sale of packaging products for the electronics, electrical, semiconductor, and disk drive industries. This segment operates principally in Malaysia, Thailand, the People's Republic of China, and Vietnam. The company's Family Care segment manufactures and sells family care products and household insecticides. This segment operates principally in Malaysia, Thailand, Vietnam, and Myanmar. Texchem Resources is also involved in trading and acts as an agent in electronic component parts and general merchandise. Further it is engaged in renting of property, plant, and equipment; providing agency, technical, management consulting, and advisory services; and manufacturing and selling household insecticides, as well as textile auxiliaries, chemicals, and finishing resins. The company was founded in 1973 and is based in Penang, Malaysia.
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Stock: [TEXCHEM]: TEXCHEM RESOURCES BHD
2020-06-27 15:03 |
Post removed.Why?