MALAYSIAN CHINESE ASSOCIATION 27-Sep-2023 Acquired 294,600 0.000 MALAYSIAN CHINESE ASSOCIATION 25-Sep-2023 Acquired 300,000 0.000 MALAYSIAN CHINESE ASSOCIATION 22-Sep-2023 Acquired 836,100 0.000 MALAYSIAN CHINESE ASSOCIATION 18-Sep-2023 Acquired 249,200 0.000 MALAYSIAN CHINESE ASSOCIATION 15-Sep-2023 Acquired 475,800 0.000 MALAYSIAN CHINESE ASSOCIATION 01-Sep-2023 Acquired 1,000,000 0.000
Acquisitions by MCA in Sept 2023 MALAYSIAN CHINESE ASSOCIATION 22-Sep-2023 Acquired 836,100 0.000 MALAYSIAN CHINESE ASSOCIATION 18-Sep-2023 Acquired 249,200 0.000 MALAYSIAN CHINESE ASSOCIATION 15-Sep-2023 Acquired 475,800 0.000 MALAYSIAN CHINESE ASSOCIATION 01-Sep-2023 Acquired 1,000,000 0.000
TONG KOOI ONG 18-Apr-2023 Notice of Interest 39,339,200 ICHC ANSTALT 18-Apr-2023 Notice of Interest 37,500,000 PHILEO GROUP LIMITED 18-Apr-2023 Notice of Interest 37,500,000 THE EDGE COMMUNICATIONS SDN BHD 18-Apr-2023 Notice of Interest 37,500,000 THE EDGE MEDIA GROUP PTE LTD 18-Apr-2023 Notice of Interest 37,500,000
Some panic for no reason. Tong holds the Star Media shares using 5 entities. 4 of this own 37,500,000 shares each and his personal name holds 39,339,200 shares. Probably need to streamline the holdings for more aquisitions.
Meanwhile, Star maintained a solid balance sheet with a robust net cash position of RM366.4mn or 50.6sen/share (-0.6% QoQ, +5.9% YoY) and zero borrowings. Based on Share Price of $0.41 the market cap is only $303 m
Awantec was also issued a show-cause notice by Bursa, where it is required to provide written representations within five market days from Wednesday to explain why its securities should not be suspended from trading and delisted. ie 23 Aug 2023. Last Day. Those see no hope got last chance to sell
an adequate level of business to continue as listed entities.
In this respect, the boards have the fiduciary duty to cast their net wide to help the companies get a core business to fulfil Bursa’s requirement. If they are unable to get a core business, the losers will be the minorities. And the boards should be brought to task.
The regulators should protect the minorities. But by delisting the companies, they are doing just the reverse.
Awantec has been without a core business to sustain its operations since December 2020 after Microsoft terminated its membership of the partner network. This was a second setback for Awantec, previously known as Prestariang Bhd.
In December 2019, the Pakatan Harapan government terminated the company’s 15-year concession to design and maintain a new immigration border system. Awantec is seeking compensation of up to RM922 million for the termination. The suit is still pending.
Also, Awantec, through its subsidiary Prestariang Sdn Bhd, is one of the three companies with the mandate to manage the migration of government data to the cloud.
As for Nylex, it has been without a core business since January last year after it disposed of its assets and liabilities to Ancom Bhd in a merger exercise. Nylex is an empty shell without any core business at the moment.
Nevertheless, it is supposed to be the vehicle for a proposed light rail transit (LRT) system to be built in Johor.
Neither Awantec nor Nylex is financially distressed. The issue at hand is that the companies do not have
This article first appeared in The Edge Malaysia Weekly on August 21, 2023 - August 27, 2023
When a company is taken off Bursa Malaysia because it has an inadequate level of business to justify its listing, the affected parties are the minority shareholders. They are forced into a position of disadvantage because an unlisted entity does not come under the oversight of a body such as Bursa or the Securities Commission Malaysia (SC).
For example, the minorities of Nylex (Malaysia) Bhd and Awanbiru Technology Bhd (Awantec) saw 50% of the paper wealth of their investments in these companies wiped out last week. This was after Bursa rejected the appeals of the companies for an extension of time to submit a regularisation plan to get a core business.
Awan Biru file originating summons and not a writ. That means the fact is clear - unilateral termination of contract by Govt. There was 2 Days submision done on the OS. The 3rd day is probably for decision. The postponement to 27 Oct 2023 is most likely requested by the courts. Off course Awan Biru would like to get an offer from the Govt instead of continuing the case. Probably waiting for any possible compensation before coming up with regularlization plan. Looks like Bursa jump the gun.
No point doing share buyback down. Let those who want to sell do at cheaper price for those who wants to buy for investment. Sooner or later oil price shd inch up as China slowly recovers. Just be patient and enjoy the min dividend
Drop 26% from $1.12 to $0.87 in 3 market days. The other gloves only drop 5%. TG is the no 1 name in glove. The weak Q is also anticipated - Not out of the blue. Guess there will be at least a technical rebound
KUALA LUMPUR: Bumi Armada Bhd's jointly controlled entity SP Armada oil Exploration Private Limited (SPAOEPL) has received notification from India's state-owned oil firm, Oil and Natural Gas Corp Ltd (ONGC), about its intention to extend the charter hire of the Armada Sterling II floating, production, storage and offloading (FPSO) vessel for one year.
In a filing with Bursa Malaysia, the group said the value of the contract extension is about US$43mil (RM198.65mil).
Under the original contract signed between ONGC and SPAOEPL on 13 March 2013, Armada Sterling II FPSO was chartered by ONGC to operate in the ONGC Cluster-7 field located about 210km off the west coast of Mumbai, India, under a nine-year firm time-charter, with seven annual extension options.
The original nine-year firm time-charter will expire on March 7, 2024.