RM342,000,000 profit from TAG's disposal is PER-TAX - below extracted from TA's 2017Q4 accounts: -
A10 Subsequent Events There were no material events subsequent to the end of the current financial year except as disclosed below:- On 10 January 2018, the Group announced that TA Little Bay Pty Limited (“TALB”), a 60.17% owned subsidiary of the Company has completed the disposal of undeveloped land comprising of 8 development lots and 26 house lots with total land area of 98.193.3 square meters (24.26 acres) located at 1406-1408 Anzac Parade, Little Bay, New South Wales, Australia, to Karimbla Properties (No.50) Pty Limited “KPPL”. Total cash amount of AUD245,000,000 (RM774,000,000 equivalent) plus GST was received in consideration of the disposal. The disposal will result in a pre-tax profit of approximately AUD104,000,000 (RM342,000,000 equivalent).
Authorised Share Capital : RM750,000,000.00 comprising 3,000,000,000 ordinary shares of RM0.25 each Issued and Paid-up Share Capital : RM90,750,263.25 comprising 363,001,053 ordinary shares of RM0.25 each Class of Shares : Ordinary shares of RM0.25 each No. of Shareholders : 16,574 Voting Rights : 1 vote per ordinary share
Source: 2013 Annual Report
Currently issue shares increased to 813,500,000 Par value $0.25
Bursa Malaysia Securities Berhad (Bursa Malaysia Securities) has publicly reprimanded Malaysia Pacific Corporation Berhad (MPCORP or the Company) for breaching paragraphs 9.03(1) and 9.04(l) of the Listing Requirements of Bursa Malaysia Securities (LR) read together with paragraph 2.1(d) of Practice Note 1/2001 (PN1) for failing to make an immediate announcement in respect of the default in payments of the overdraft and revolving credit facilities granted by RHB Bank Berhad (RHB) to MPCORP.
It is good if your will explore MPCorp’s 2012 accounts - Page 101 – points 35 & 36 regarding significant events.
It seems that Amanah Raya Bhd has served a writ of summons on claims pertaining to the exercise of put option granted under the joint venture agreement signed on 20 Aug 2008. Claims amount rather significant.
I always appreciate your continued contributions and I don’t mean to spoil your party.
Shaoxing Mega was established in the Shaoxing County of Zhejiang Province of the People’s Republic of China by Mega First Power Industries Sdn Bhd and Qixian Heat & Power Co., Ltd of Shaoxing County as a sino-foreign co-operative joint venture on 23 October 1995 with an operating period of 22 years
Serudong Power built, owns and operates a 36MW diesel-fuelled power plant in Tawau, Sabah. The Company is licensed to exclusively supply electricity to Sabah Electricity Sdn Bhd for a 21-year concession period from 2 December 1996. Serudong Power’s power plant consists of 3 identical blocks of medium-speed generating sets, fired mainly by medium fuel oil procured from Petronas Dagangan Berhad as part of a 21-year Fuel Supply Agreement. Wartsila NSD Corporation of Switzerland designed the plant’s 4-stroke engines, while Hyundai Heavy Industries Co., Ltd and Hyundai Corporation Ltd were the licensed manufacturer. Mega First Power Services Sdn Bhd, a wholly-owned subsidiary of Mega First is responsible for the operation and maintenance of the power plant via an Operation and Maintenance Agreement for a period of 12 years from 2 December 1996 and subsequently was extended to 1 December 2017.
MFCB announced that they have obtained approval for a 90years concession on a 9477 ha land to plant rubber and that the development of this land is expected to enhance the long term net assets and earnings of the group.
Is MFCB a planter? Do they have the expertise in this field?