Karim already given notice of intention to deal during closed period on the 5/5 in anticipation for the opening on 9/5. Looks like a big LD coming with Karim the first one to dump. ---------------------------------------------------------------------------------------------------
sure dump?? or force to sell by enter the sell que so that new investor will take over??
Still got hope for bond payment unless it is clear that debtors never exist..that the big issues for auditor bcoz they also afraid being treated as cheater during taxation..another issues on payable using unknown entity..this is small issues by treat it as a must added back item for taxation in view of auditor but not for shareholders..
EY is the partner of Block 7 Investment but still cannot confirm on genuinely of the project..weird?? Phone number is there to contact for confirmation..what kind of game in Malaysia that lead to suspension being drag too long..
My opinion, can do faster since EY exist globally..just confirm project existence or WIP..to recognise bad debt due to unpaid isnot logic bcoz project still new..
Abu Dhabi: ZonesCorp, one of the largest operators of purpose-built economic zones in the United Arab Emirates has signed an agreement with Block 7 Investments, a joint venture between EFIRE Capital Holdings Limited of Abu Dhabi and Serba Dinamik Holdings Berhad of Malaysia, that will see the development of the Block 7 Innovation Hub in the heart of the Industrial City of Abu Dhabi (ICAD).
The new development caters to key sectors like healthcare, computer science, robotics, mobility, renewable energy and sustainable advance materials. Block 7 is designed to function as a breeding ground for innovation driven industries with ultra-modern infrastructure, robust services, and a unique setup that links intelligent living space leveraging ZonesCorp’s existing manufacturing ecosystem and serves as a platform for tech start-ups.
The development of the Block 7 Innovation Hub will take advantage of ZonesCorp’s Advanced Manufacturing Cluster, a leading regional manufacturing hub that will also service the biopharma, environmental technologies, mobility, and ICT sectors amongst others.
Spread over 820,000 square metres, it will also include a host of dedicated IT facilities, smart office complexes, exhibition centres, as well as retail and entertainment spaces.
The agreement was signed by Mohamed Al Khadar Al Ahmed, Chief Executive Officer, ZonesCorp, and Dato’ Dr. Ir. Mohd Abdul Karim Bin Abdullah of Block 7 Investments LLC as part of a ceremony hosted at ZonesCorp’s headquarters, in the presence of Abdullah Al Hameli, Head of Industrial Cities and Free Zone Cluster at Abu Dhabi Ports.
“The announcement of the Block 7 Innovation Hub development in the Industrial City of Abu Dhabi marks a key milestone in the emirate’s progressive efforts to position Abu Dhabi as a world-leading hub for innovation,” said Al Hameli .
“In line with the leadership’s vision to foster a sustainable economy driven by innovation, the Innovation Hub’s promise of intelligent living will complement Abu Dhabi’s industrial strength and create numerous opportunities for coming generations of youth to venture into some of the world’s most transformative industrial fields.”
“Leveraging ZonesCorp’s growing industrial ecosystem, this project will not only deliver ground-breaking concepts and solutions for the benefit of the global manufacturing industry, but will also showcase how we can combine technology, innovation, and the human element within a single environment,” said Mohamed Al Khadar Al Ahmed, Chief Executive Officer, ZonesCorp.
Issued raise by KPMG related to Block 7 investment revenue..this project received by SD on April last year..if debtor balance can be confirmed, SD will get green light on revenue..otherwise, KPMG will assume revenue is not correct..i'm afraid EY got same result bcoz some landlord only want to pay after project completed..they will not confirmed the debtor balance since it will indicate they need to pay that amt to Serba..maybe they afraid of LD that they can claim..
3 billion problem, another 3 billion should be ok..why take very long to verify report?? Hate to wait then EY said same opinion with KPMG..still cannot verified debtor's balance where as their duty is to make sure debtor's balance confirmed true or not..
If not, Serba still can wake up again..just accept the fate international business especially with UAE got a lot of scam tactic..if UAE cheat, just follow Zelan path..
They got lots of project but happened this way..hope govt Sarawak takeover this good company and forget about international project especially those involve with UAE govt..Zelan got good lesson dealing with UAE..lucky got compensation..