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 disastrous which turns into devastating shareholders fights. With Protasco past track record, market is skeptical on the company latest entry into Sri Lanka.
Stock: [PRTASCO]: PROTASCO BHD
2017-09-15 19:24 | Report Abuse
Not again.
https://klse.i3investor.com/blogs/Fakenewsmaker/132378.jsp
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 disastrous which turns into devastating shareholders fights. With Protasco past track record, market is skeptical on the company latest entry into Sri Lanka.
FiNews feat bursaLink
Source: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5543705