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2017-02-22 20:31 | Report Abuse
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2017-02-17 19:58 | Report Abuse
http://klse.i3investor.com/servlets/stk/0150wa.jsp
The mother share price of RM0.08 is very near to the Warrant exercise price of RM0.10.
The Warrant expiry date is April 2024,it is still have remaining 7 years! Long 7 years!
With a number of Corporate Exercise, Asiabio expects fast Turnaround as reflected by the upticks and heavy volume in the past weeks.
Warrant will trail the mother share price upticks too.
Happy Investing Everyone!
Rich Dad: Money Don't Grows on Tree.
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2017-02-17 19:36 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5340313
On behalf of the Board of Directors of Sumatec (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company intends to undertake the following proposals:-
(a) Proposed private placement of up to 1,000,000,000 new ordinary shares in Sumatec (“Sumatec Shares” or “Shares”) to independent third party investor(s) to be identified (“Proposed Private Placement”);
(b) Proposed issuance of up to 800,000,000 Sumatec Shares as payment to contractors for development and production services to be provided at the Rakushechnoye Oil and Gas Field (“Proposed Issuance of Shares”); and
(c) Proposed renounceable rights issue of up to 3,226,194,640 Sumatec (“Rights Shares”) together with up to 3,226,194,640 free detachable warrants (“Warrants”) at an indicative issue price of RM0.10 per Rights Share on the basis of one (1) Rights Share for every two (2) existing Sumatec Shares held together with one (1) Warrant for every one (1) Rights Share subscribed (“Proposed Rights Issue with Warrants”).
(collectively, the "Proposals under Phase I")
Sumatec had on 17 February 2017 entered into a framework agreement (“Framework Agreement”) with Ken Makmur Holdings Sdn Bhd and Markmore Energy (Labuan) Limited for the production of liquefied petroleum gas (“LPG”) and condensate from the 100 million standard cubic feet per day of natural gas supplied from the Rakushechnoye Oil and Gas Field (“Proposed LPG Production”) ("Proposals under Phase II").
The Proposed LPG Production shall be implemented upon completion of the Proposals under Phase I.
(collectively, the Proposals under Phase I and Proposals under Phase II is to be referred to as the “Proposals”)
Further details of the Proposals is contained in the attachment attached herein.
This announcement is dated 17 February 2017.
==================================================================
The shares price had failed to perform after last TWO/THREE Right Issues and at this low share price still want to go for Right issue AGAIN?
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2017-02-15 20:26 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5337665
Reference is made to the earlier announcements in relation to the Proposals.
On behalf of the Board of Directors of Asian Pac, Affin Hwang Investment Bank Berhad (“Affin Hwang IB”) is pleased to announce that the Securities Commission Malaysia (“SC”) had via its letter dated 14 February 2017, approved the application submitted by Affin Hwang IB on behalf of Mah Sau Cheong and person acting in concert with him, seeking an exemption from having to undertake a mandatory take-over offer in Asian Pac under subparagraph 4.08(1)(c) of the Rules on Take-overs, Mergers and Compulsory Acquisitions.
This announcement is dated 15 February 2017.
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2017-02-15 20:24 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5338189
ASIA BIOENERGY TECHNOLOGIES BERHAD (ABT or the Company)
- MEMORANDUM OF INTENT BETWEEN ASIABIO PETROLEUM SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF ABT AND ACME CHEMICALS (MALAYSIA) SDN. BHD. AND SEJAHTERA BUMISAMA SDN. BHD.
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2017-02-15 08:13 | Report Abuse
HARUMi begins East Malaysia expansion starting with KK
14th February, 2017
By VESTA VANESSA JSOL
KOTA KINABALU: HARUMi, Malaysia’s first halal-certified fried chicken brand, will expand its presence in East Malaysia, starting in Kota Kinabalu.
It is certified halal not just for its chicken, but also the spices used to fry the chicken, said Group Managing Director of D.B.E Gurney Resources Bhd (DBE), Dato Alex Ding Seng Huat.
HARUMi offers four products namely Chicken Chop, Chicken Wing, Chicken Popcorn and Sweet Potato. The company is wholly-owned by Perak-based DBE Poultry Sdn Bhd, an integrated poultry company which has signed a joint-venture with Koperasi Penggiat Seni Sabah Berhad (COSENI) to set up HARUMi outlets here.
A special purpose vehicle has been established under the joint-venture to handle a dedicated Sabahan entrepreneur development programme that involves the establishment of HARUMi retail outlets through licensing arrangements.
Alex said DBE licensees will be providing kiosks equipped with cooking utensils and raw materials, including marinated chicken. A raw material distributor will be appointed in Sabah while COSENI will handle the marketing and assist entrepreneurs to obtain financing.
Alex said his company predicts that food and beverage entrepreneurship growing rapidly in Sabah, adding that HARUMi seeks to fill the gap in local fried chicken brand.
“Our joint-venture will bring a huge impact for the economic growth here. Sabahans will have more choices when it comes to fried chicken,” said Alex.
Sabah is part of HARUMi’s nationwide ambition which targets by 2018 3,000 kiosks, 300 food trucks and 30 restaurants.
It currently has 200 kiosks, five express cash-and-carry restaurants, three food trucks and four restaurants in Peninsular Malaysia.
Meanwhile, Chairman of COSENI, Arnez Hamidi said the cooperative will launch HARUMI in Sabah in three phases with 19 kiosks targeted for Ranau, Kota Belud and Kota Kinabalu, to be followed by a food truck each in Ranau and Putatan.
By the end of this year, we are expecting to open the first HARUMi restaurant in Sabah,” said Arnez. COSENI was established last year and now has 85 members, “most of them from the creative fraternity”.
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2017-02-14 20:05 | Report Abuse
Sad to hear many DBE investors have been holding at loss for many years and still waiting with frustrated hope.
HARUMI could be Game Changer for DBE Gurney in the near future evidence by recent appointment of COSENI in Sabah and also tie-up with Taiwanese for Taiwan & China big market. At least there is plan to turnaround DBE.
In its stable, there is supply contract with reputable customers, KFC-Pizza Hut - well known fast food chain. This gives DBE steady income.
Everyone still hoping the share price to rebound soon/fast however look like non event after the announcement.
DBE need time to prove its worth.
Many had given enough time for DBE to prove, do you still willing to give DBE a second or third chance? Those unwilling should move on instead.
Happy Investing Everyone!
Rich Dad: Money Don't Grow on Tree.
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2017-02-08 20:35 | Report Abuse
Have to wait until Advance Capital Partners Pte Ltd sold all its shares in D.B.E.
Happy Investing Everyone!
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2017-02-08 06:15 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5331829
The Edge Markets: According to filing between Jan 16 and 20, notable shareholding changes at companies listed on Bursa Malaysia included that at DBE Gurney Resources Bhd, where Advance Capital Partners Pte Ltd resurfaced as a substantial shareholder after it converted its redeemable convertible notes pursuant to a subscription agreement dated April 27, 2015.
With the conversion, Advance Capital added 31.25 million shares or a 2.69% stake to its holding, raising it to 80.87 million shares or 6.96% equity interest in the poultry company.
DBE Gurney’s share price has been hovering between 3.5 sen and 5.5 sen in the past one year.
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2017-02-07 06:18 | Report Abuse
http://www.theedgemarkets.com/my/article/solid-gold-whither-goes-price-gold
Gold is still the safest bet in bad times and off-course in good time too.
Happy Investing Everyone!
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2017-02-02 14:28 | Report Abuse
https://www.google.com/amp/www.nst.com.my/node/167301/amp
[Past news but still relevant on company biz directions]
DBE sees better results next year from tastier KFC contract
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AUGUST 22ND, 11:01 AM
BY AMIR HISYAM RASID
KUALA LUMPUR: DBE Gurney Resources Bhd expects a better financial performance for the full-year ending 2017 as it eyes a new contract extension from Kentucky Fried Chicken (M) Sdn Bhd (KFCM), KFC (Peninsular Malaysia) Sdn Bhd and QSR Stores Sdn Bhd next year.
KFCM and KFC (Peninsular Malaysia) are subsidiaries of KFC Holdings (M) Bhd, which in turn is owned by QSR Brands (M) Holdings Sdn Bhd.
Group managing director Datuk Alex Ding Seng Huat said he was confident DBE would clinch the deal, adding that its relationship with KFC companies for the past eight years would also lead to a bigger order.
“We are negotiating with KFC over next year’s contract. KFC has proposed a bigger chicken order next year for its restaurants. Pending now is the finalised pricing,” he told Business Times recently.
Currently, DBE produces one million chickens a year, of which 300,000 birds are supplied to KFC.
While the company has been hit by the high prices of chicken feed, particularly corn, Ding expects commodity prices to be lower next year.
The lower prices of corn and soyabean would help lower the cost of production by about 10 per cent, said Ding.
DBE also has a mill producing 9,500 tonnes of feed per month, six breeder farms producing 100,000 chickens per year and six incubators generating 12 million hatching eggs per year.
Its subsidiary, DBE Poultry, has been supplying 30 per cent of its total production to designated KFC outlets in Perak (52) and Selangor (25) since January.
Ding said the company was poised to return to the black in its current financial year ending December 31, and he attributed it to the earnings coming from its contract with KFC companies.
The deal is expected to contribute RM50 million to its revenue compared with RM15 million in the previous year.
To recap, DBE has been hit hard by the weakening ringgit and price volatility of chicken feed, driving the company into the red for a decade since 2005.
Last year, the company registered a net loss of RM10.75 million for the financial year ended December 31, slightly higher than RM10.17 million in 2014.
Ding said the company was forging ahead with its HARUMi fried chicken brand following a strategic cooperation agreement with Pexden Holdings Sdn Bhd earlier this year.
He said the company was targeting to set up 1,000 HARUMi kiosks by the end of the year, with an expected sales of more than RM40 million.
The company also targets to operate 30 restaurants, 3,000 HARUMi kiosks and 300 mobile trucks by 2018 through franchising, via a memorandum of understanding (MoU) signed with Taiwan Shing Shang Co Ltd, JienPeng International Co Ltd, FuHsin International Co Ltd, Solatek Co Ltd, HTS Technology Co Ltd, UltraBrave Technology and Formosa Food King Co.
The MoU is focused on cooperating in secondary processing of chickens and marketing its secondary processed value-added products under the HARUMi brand.
Ding said stepping up the value chain into franchising business would help the company withstand the uncertainties of commodity prices.
“We have control over the price of our HARUMi fried chicken. For example, if the price of raw chicken increases, we will increase the price of HARUMi fried chicken accordingly.
“We believe demand for fried chicken will never stop growing. With that, we are confident our HARUMi business will continue to grow.”
Ding said once the company hit a target of 1,000 kiosks domestically, it would look into expanding to Vietnam, Thailand and Indonesia, among others.
Owning a HARUMi franchise only requires an investment of RM3,500 and no royalty fee.
Ding said, therefore, it was an opportunity for young entrepreneurs to own a business.
Apart from chicken breeding, the company also has 11 broiler farms and a processing factory.
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2017-02-02 08:03 | Report Abuse
http://www.theborneopost.com/2016/07/21/dbe-gurney-eyes-rm10-mln-from-new-jv/
[past news article but still relevant]
DBE Gurney eyes RM10 mln from new JV
==================================
July 21, 2016, Thursday
KUALA LUMPUR: Integrated poultry company DBE Gurney Resources Bhd expects its collaboration with Distinct Legacy Sdn Bhd to expand its fried chicken business, under the brand HARUMi, to generate RM10 million in sales over the next 12 months.
“We expect some RM10 million in sales from 1,000 kiosks collectively, but that will only be reflected in the next financial year,” said group managing director Datuk Alex Ding Seng Huat yesterday.
The company also plans to establish 1,000 kiosks across Malaysia in the 12 months to August next year on the back of this partnership.
The company, through its wholly-owned unit DBE Poultry Sdn Bhd, inked a joint venture (JV) agreement with Distinct Legacy to establish a special purpose vehicle (SPV) to handle a dedicated entrepreneur development programme that involves the establishment of HARUMi retail outlets through licensing arrangements for the benefit of selected entrepreneurs.
HARUMi is Malaysia’s first halal-certified local fried chicken brand.
The SPV’s paid-up capital is RM100,000, with both DBE Poultry and Distinct Legacy contributing 40 per cent each and the remaining 20 per cent to be held by a private investor, Tengku Faizwa Tengku Razif.
Ding said the company is also confident of achieving its target of setting up 3,000 kiosks, 300 food trucks and 30 restaurants by 2018.
Distinct Legacy chairman Datuk Ahmad Ramzi Mohamad Zubir said the firm is currently talking to six government agencies to take 1,000 HARUMi kiosks each for their staff and entrepreneurs.
He said the entrepreneurship programme offered by the SPV would mostly appeal to lower-income entrepreneurs wanting to start a business with little capital.
“With just a minimal investment of RM3,500 and no royalty fee, entrepreneurs will be provided all the necessary tools and equipment to start selling,” he said.
Distinct Legacy had in 2012 acquired the entire issued and paid-up share capital of Estinwira Sdn Bhd, the master franchiser of Killiney Kopitiam, and to date has invested RM10 million to develop and expand the brand.
“It is our aspiration to become a multiple-brand franchise powerhouse and we are currently in discussions to acquire three more local food and beverage brands and bring in two more international brands with a total investment of RM100 million,” said Ahmad Ramzi.
DBE Gurney has a feed mill production capacity of 9,500 metric tonnes per month, six breeder farms, 11 broiler farms and a processing factory with a capacity of 1.5 million chickens per month. — Bernama
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2017-02-02 07:44 | Report Abuse
http://www.theedgemarkets.com/my/article/dbe-gurney-aims-open-1000-harumi-fried-chicken-kiosks-mid-2017
DBE Gurney aims to open 1,000 HARUMi fried chicken kiosks by mid-2017
============================================================
By Billy Toh / The Edge Financial Daily | July 21, 2016 : 10:03 AM MYT
(This article first appeared in The Edge Financial Daily, on July 21, 2016).
KUALA LUMPUR: DBE Gurney Resources Bhd is targeting to open up to 1,000 HARUMi fried chicken kiosks in the next 12 months by offering franchise opportunities to entrepreneurs who are keen to start a business in the food and beverage (F&B) industry, according to DBE Gurney group managing director Datuk Alex Ding Seng Huat.
He was speaking to reporters after the group’s wholly-owned unit DBE Poultry Sdn Bhd inked a joint-venture (JV) agreement yesterday, with Distinct Legacy Sdn Bhd (DLSB) and private investor Tengku Faizwa Tengku Razif, to jointly establish an entreprenuer development programme that involves the establishment of HARUMi retail outlets via licence arrangements.
“To date, we have established more than 100 kiosks across Malaysia, and we are on track [to] achieving our target of 500 kiosks by [the] end of this year through this JV business,” said Ding.
Its HARUMi brand, touted as Malaysia’s first halal-certified local fried chicken brand, was launched just in April, via a collaboration with some Taiwanese F&B experts.
DLSB chairman Datuk Dr Ahmad Ramzi Mohamad Zubir said: “With just a minimum of RM3,500, with no royalty fee, entrepreneurs will be provided all the necessary tools and equipment, such as fryers, kiosks, frying tools and packaging materials, then attend a half-day training by the company and business can begin immediately.”
According to Ahmad Ramzi, sales per kiosk are projected to reach an average of RM300 per day, with a profit margin of around 40%.
Both Ding and Ahmad Ramzi are convinced that the joint effort is strategic and offers valuable synergies.
Under the JV, DLSB will market the programme to interested entrepreneurs and assist them to obtain financing for their participation, while DBE Poultry provides ready-to-operate kiosk sets and supplies marinated chicken products to licensees under the programme.
Ahmad Ramzi also said DLSB had been talking to six government agencies to take up to 1,000 HARUMi kiosks, such as Mara, Koperasi and Angkasa.
“Upon the completion of this corporate exercise, we will set up a new special purpose vehicle (SPV), with a paid-up capital of RM100,000, to facilitate the HARUMi Entrepreneur Programme. DBE Gurney and DLSB will each hold 40% in the SPV,” said Ding. The remaining 20% will belong to Tengku Faizwa.
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2017-01-28 16:35 | Report Abuse
News right before free warrants corporate exercise:
http://www.thestar.com.my/business/business-news/2016/11/11/dbe-gurney-and-kfc-restaurant-operators-renew-supply-deal/
KUALA LUMPUR: Fully integrated poultry company, DBE Gurney Resources Bhd, has renewed two agreements valued at RM50mil to supply poultry products to the operators of the KFC restaurant chain in the peninsula.
In a filing with Bursa Malaysia, the company said its unit DBE Poultry Sdn Bhd had extended the agreements with KFC (Peninsular Malaysia) Sdn Bhd and QSR Stores Sdn Bhd for the period from Jan 1, 2017 to Dec 31, 2017.
“This augurs well with DBE’s intention to increase its market share locally and sustain its business competitiveness,” it added.
In a press statement, DBE Gurney group managing director Datuk Alex Ding Seng Huat said: “We are pleased to continue our partnership with the retailers, who have been a reliable partner in support of our company’s evolving business needs and growth strategies.”
DBE Gurney has a feed mill production capacity of 9,500 metric tonnes per month, 6 breeder farms with 100,000 chickens per year, six sets of incubators with 12 million eggs per year, 11 broiler farms with 12 million chickens per year and a processing factory that has a capacity of 1.5 million chickens per month.
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2017-01-28 16:26 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5327193
Unless otherwise stated, all definitions used in this announcement shall carry the same meanings as defined in the announcements dated 18 October 2016, 31 October 2016, 30 November 2016, 8 December 2016, 9 December 2016, 29 December 2016, 4 January 2017 and 20 January 2017 in relation to the Bonus Issue of Warrants (“Announcements”).
On behalf of the Board, Kenanga IB wishes to announce that the Bonus Issue of Warrants has been completed today following the listing of and quotation for 580,644,468 Warrants B on the Main Market of Bursa Malaysia Securities Berhad with effect from 9.00 a.m. today.
This announcement is dated 27 January 2017.
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2017-01-26 21:54 | Report Abuse
LATEST NEWS, CORPORATE
Borneo Oil acquires quarry land in Lahad Datu, Sabah
By Syahirah Syed Jaafar / theedgemarkets.com | January 26, 2017 : 9:02 PM MYT
KUALA LUMPUR (Jan 26): Borneo Oil Bhd is acquiring seven plots of quarry land in Lahad Datu, Sabah as part of its expansion plan into limestone mining.
The company said the purchase will allow it to engage in marble block extraction for the export of limestone.
“With the acquisitions, the company together with its existing land bank of limestone reserves held for long-term investment shall become a substantial player in the supply of high-grade limestone resources,” it said.
In a filing with Bursa Malaysia, it added that the Borneo marble brand has over the years established a name for itself and is well known in China.
The total purchase price is RM100.58 million, of which RM20.58 million is for the sublease of six parcels of quarry lands measuring 32.57 hectares and the remaining RM80 million is for the sublease of another piece measuring 5.49 hectares.
The transaction is expected to be completed within two months and Borneo Oil estimates the seven properties to provide a net income of RM10.04 million per year.
Borneo Oil also said that once a clinker plant has been set up in the eastern part of Sabah, it will require around 800 tonnes of limestone a day and this will add to the future prospects of monetizing the limestone reserves either through the supply of limestone or other form of joint ventures.
Yesterday Borneo Oil also announced the acquisition of a 95% stake in mining company Jusra Mining Merapoh Sdn Bhd for RM5 million.
Borneo Oil shares closed unchanged at 16 sen today, giving a market capitalisation of RM484.61 million.
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2017-01-25 20:26 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5325093
D.B.E. Gurney Resources Berhad (“DBE” or “the Company”) is now in the closed period for dealing in its securities by its Directors and principal officers pending the announcement of its results for the 4th financial quarter ended 31 December 2016. The Company has received a notification from Dato’ Ting Heng Peng (Independent Non-Executive Director) of his intention to deal in the securities of the Company during this closed period.
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2017-01-23 19:40 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5321529
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5321525
ADVANCE CAPITAL PARTNERS PTE LTD, after convert RCN to shares start disposing again...
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2017-01-12 07:33 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5300377
Based the above announcement, ADVANCE CAPITAL PARTNERS PTE LTD have 52,327,520 shares after disposed 6.5 mil shares.
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http://www.bursamalaysia.com/market/listed-companies/company-announcements/5303509
Subsequent announcement, ADVANCE CAPITAL PARTNERS PTE LTD ceased to be a substantial shareholder after reduction in percentage held. Which mean any subsequent disposals by ADVANCE CAPITAL PARTNERS PTE LTD, there will not be any announcement anymore.
The huge volume for the past 2 weeks are very likely due to continue disposal by ADVANCE CAPITAL PARTNERS PTE LTD?
Happy investing everyone!
Rich Dad: Money don't grows on tree.
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2017-01-11 07:36 | Report Abuse
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2017-01-11 07:32 | Report Abuse
Sumatec loans cancelled, creditors demand for RM72.33million by Jan 19
BY OOI TEE CHING - 10 JANUARY 2017 @ 12:31 AM Facebook 0 Twitter Share 0
KUALA LUMPUR: Sumatec Resources Bhd’s creditors have terminated three collateralised loans and are demanding for the company to pay up the RM72.33million owed by Jan 19, 2017.
The debt is being called up by the Malaysian Trustees Bhd (MTB), trustees to the three lenders of the loans – Kerisma Bhd, Capone Bhd and Prima Uno Bhd – according to Sumatec’s stock market filing this evening. Sumatec, however, said its lawyer Shearn Delamore & Co advised that the group is not obliged to pay given that a provision under the settlement agreement inked with the creditors in 2013 has stated that the appropriate remedy for the bondholders is to instruct MTB to pursue RM17 million from three entities, namely Hoe Leong Corp Ltd, Setinggi Holdings Ltd and/or Hoe Leong’s nominees. The bondholders, it said, should also pursue Semua International Sdn Bhd for any remaining dividend payment stipulated in the 2013 settlement agreement with Semua International Sdn Bhd. If it turns out that Sumatec is obligated to pay the multi-million claim, Markmore Sdn Bhd, its indirect substantial shareholder – who is also the vendor selling to Sumatec the Rakushechnoye Oil and Gas Field for US$250 million – will settle the claim using proceeds from the sale of the oil and gas field. Markmore is also committed to satisfy the debts of which Semua Shipping Sdn Bhd (SSSB) may be obligated to undertake. Markmore would use money from sales of the same oil and gas field. Markmore is 99.99 per cent controlled by Sumatec’s substantial shareholder Tan Sri Halim Saad. As at Jan 4, 2017, Halim owns 19.61 per cent in Sumatec. In a separate press statement, Sumatec said it has recently conducted an integrated study involving a complete geological and geophysical re-interpretation, a petrophysical evaluation, a seismic inversion and an attribute analysis on the Rakushechnoye oil field, after which it has revised the reserves estimate for the same to 50.2 million barrels from 43 million barrels in May 2014. “The company is applying for government approval in Kazakhstan for the year 2017 work programme to increase the oilfield’s production,” Sumatec said. Following the recent rise in crude oil price and improved sentiment in the oil and gas industry, Sumatec said it plans to ramp up production to about 3,500 barrels per day by end-2017. It also aims to produce its first phase of 30 million of standard cubic feet per day of gas – equivalent to 5,000 barrels of oil – in 2018. “The company is in the final stage of developing and securing funding for the new development programme,” it added.
Read More : http://www.nst.com.my/news/2017/01/203125/sumatec-loans-cancelled-creditors-demand-rm7233million-jan-19
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2017-01-10 06:59 | Report Abuse
http://www.theedgemarkets.com/my/article/sumatecs-creditors-cancel-loans-given-demand-rm723m-14-days
KUALA LUMPUR (Jan 9): Sumatec Resources Bhd's creditors have terminated three collateralised loans extended to the company, and are demanding that the company pay up RM72.33 million within 14 days from the date the termination and demand notice was issued on Jan 5.
The debt is being called up by Malaysian Trustees Bhd (MTD), trustees to the three lenders of the loans, namely Kerisma Bhd, Capone Bhd and Prima Uno Bhd, according to Sumatec's bourse filing this evening.
However, Sumatec said its solicitors, Shearn Delamore & Co, has advised that the company is not obliged to pay the sum owing under the facilities, given that a provision under the settlement agreement (SA) inked with the creditors in 2013 stated that the appropriate remedy for the bondholders is to instruct MTB to pursue RM17 million from three entities for the breach of the SA, namely Hoe Leong Corp Ltd, Setinggi Holdings Ltd and/or Hoe Leong's nominees.
The bondholders, it said, should also pursue Semua International Sdn Bhd for any remaining dividend payment stipulated in the 2013 SA with Semua International Sdn Bhd.
"The company takes the position that all of Sumatec's obligations under the 2013 SA has been fulfilled and any recourse or recovery sought by the bondholders should be claimed from Hoe Leong, Setinggi and/or Hoe Leong's nominees, for the breach of Hoe Leong's obligations," the filing read.
Still, if it turns out that Sumatec is obligated to pay the multi-million claim, Markmore Sdn Bhd, its indirect substantial shareholder — who is also the vendor that is selling to Sumatec the Rakushechnoye Oil and Gas Field for US$250 million — will settle the claim using proceeds from the sale of the oil and gas field, it said. The disposal was announced last August.
"Markmore is also committed to satisfy the debts of which Semua Shipping Sdn Bhd (SSSB) may be obligated to undertake," it said, adding Markmore would do so using proceeds from the same oil and gas field sale.
Note that Markmore is 99.99% controlled by Sumatec’s substantial shareholder Tan Sri Halim Saad. Halim owns 19.61% stake in Sumatec as at Jan 4 this year.
In separate press statement, Sumatec said it has recently conducted an integrated study involving a complete geological and geophysical re-interpretation, a petrophysical evaluation, a seismic inversion and an attribute analysis on the Rakushechnoye oil field, after which it has revised the reserves estimate for the same to 50.2 million barrels (mmbls) from 43 mmbls in May 2014.
“The company is presently applying for government approval in Kazakhstan for the year 2017 work programme to increase the [oilfield's] production,” Sumatec said.
Following the recent rise in crude oil price and improved sentiment in the O&G industry, Sumatec said it plans to ramp up production to about 3,500 barrels per day by end-2017. It also aims to produce its first phase of 30 million of standard cubic feet per day of gas — equivalent to 5,000 barrels of oil — in 2018.
“The company is in the final stage of developing and securing funding for the new development programme. Further announcements will be made accordingly, in due course,” it added.
Sumatec’s share price rose half sen or 5.56% to 9.5 sen today, giving it a market capitalisation of RM367.28 million.
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2017-01-06 18:20 | Report Abuse
DBE - Notice of Bonus Entitlement
D.B.E. GURNEY RESOURCES BERHAD
Bonus Issue of up to 2,344,081,972 free warrants in D.B.E. Gurney Resources Berhad ("DBE" or the "Company") on the basis of one (1) warrant for every two (2) existing ordinary shares of RM0.01 each in DBE ("DBE Shares") held by the shareholders of DBE whose names appear in DBE's Record of Depositors as at 5.00 p.m. on 20 January 2017 ("Entitlement Date") ("Entitled Shareholders").
Kindly be advised of the following :
1) The above Company’s securities will be traded and quoted “[Ex-Bonus Issue]” as from: 18 Jan 2017
2) The last date of lodgment : 20 Jan 2017
Remarks: The warrants will be credited into the shareholders central depository system account and a notice of allotment for the warrants will be issued and despatched to the shareholders of DBE whose names appear in DBEs Record of Depositors at 5.00 p.m. on 20 January 2017 at the address as per DBE Record of Depository prior to the listing of and quotation for the warrants. The warrants will be quoted on the Main Market of Bursa Malaysia Securities Berhad within two (2) market days after the submission of the application for quotation of the warrants to Bursa Malaysia Securities Berhad. This announcement is dated 4 January 2017.
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2017-01-04 18:46 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5305921
Bonus Issue of up to 2,344,081,972 free warrants in D.B.E. Gurney Resources Berhad ("DBE" or the "Company") on the basis of one (1) warrant for every two (2) existing ordinary shares of RM0.01 each in DBE ("DBE Shares") held by the shareholders of DBE whose names appear in DBE's Record of Depositors as at 5.00 p.m. on 20 January 2017 ("Entitlement Date") ("Entitled Shareholders").
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2017-01-03 12:40 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5303509
Last weekend Advanced Capital Partners alone disposed 6.5 mil shares, today also?
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2016-12-15 07:07 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5288669
ADVANCE CAPITAL PARTNERS PTE LTD, large shareholder continue to disposed its shares....
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2016-12-08 06:39 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5283425
Advanced Capital Partners Pte Ltd continue to disposed its shares...
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2016-12-08 06:37 | Report Abuse
PANTECH GROUP HOLDINGS BERHAD
1) Bonus Issue of up to 138,089,185 new ordinary shares of RM0.20 each in Pantech Group Holdings Berhad ("Pantech") ("Bonus Shares") on the basis of one (1) Bonus Share for every five (5) existing ordinary shares of RM0.20 each in Pantech ("Pantech Shares") held by the shareholders of Pantech whose names appear in Pantech's Record of Depositors as at 5.00 p.m. on 21 December 2016 ("Entitlement Date") ("Entitled Shareholders") ("Bonus Issue") and
2) Bonus Issue of up to 69,044,592 free warrants in Pantech Group Holdings Berhad ("Pantech" or the "Company") ("Warrants B") on the basis of one (1) Warrant B for every ten (10) existing ordinary shares of RM0.20 each in Pantech ("Pantech Shares") held by the shareholders of Pantech whose names appear in Pantech's Record of Depositors as at 5.00 p.m. on 21 December 2016 ("Entitlement Date") ("Entitled Shareholders").
Kindly be advised of the following :
1) The above Company’s securities will be traded and quoted “[Ex-Bonus Issue]” as from: 19 Dec 2016
2) The last date of lodgment : 21 Dec 2016
3) Retention Money: Where securities are not delivered in time for registration by the seller, then the brokers concerned:-
a) Selling Broker to deduct <1/6>, of Selling Price against the Selling Client
b) Buying Broker to deduct <16.66%>, of Purchase Price against the Buying Client
c) Between Broker and Broker, the deduction of <1/6>, of the Transacted Price is applicable.
Remarks 1:- "Bursa Malaysia Securities Bhd would like to clarify that on the basis of settlement taking place after 21 December 2016 with bonus issue of PANTECH shares of RM0.20 each, any shareholder who is entitled to receive PANTECH bonus issue shares, may sell any or all of his PANTECH shares arising from the bonus issue beginning the Ex-Date (19 December 2016).
For example, if Mr X purchases 500 PANTECH shares on cum basis on 16 December 2016, Mr X should receive 500 shares on 21 December 2016. As a result of the bonus issue, a total of 600 PANTECH shares will be credited into Mr X's CDS account on the night of 21 December 2016 being the Book Closing Date. Therefore, Mr X can sell the bonus issue shares of 600 on or after the Ex-Date ie from 19 December 2016 onwards."
Remarks 2:- The Bonus Shares will be listed and quoted on 22 December 2016, being one (1) market day after the Entitlement Date.
Remarks 3:- The Warrants B will be credited into the shareholder's central depository system account and a notice of allotment for the Warrants B will be issued and despatched to the shareholders of Pantech whose names appear in Pantech's Record of Depositors at 5.00 p.m. on 21 December 2016 at the address as per Pantech's Record of Depository prior to the listing of and quotation for the Warrants B. The Warrants B will be quoted on the Main Market of Bursa Securities within five (5) clear market days after the submission of the application for quotation of the Warrants B to Bursa Malaysia Securities Berhad.
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2016-11-29 18:45 | Report Abuse
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2016-11-17 19:07 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5262425
Introduction
The Board of Directors of OCK Group Berhad (“OCK” or “the Company”) wishes to announce that the Company’s wholly-owned subsidiary, OCK International Sdn Bhd (“OCK International”) had on 17 November 2016 completed the establishment of Well Synergy Resources Private Limited in The Republic of the Union of Myanmar.
Information on Well Synergy Resources Private Limited (“Well Synergy”)
Well Synergy is established as the subsidiary of OCK International with a registered capital of USD300,000 divided into 3,000 shares of USD100 each in which 2,999 shares held by OCK International Sdn. Bhd and 1 share held by Low Hock Keong.
The principal activity of Well Synergy is Engineering Services, Rental Business, Market Research and Management Services.
Financial Effects
The above incorporation of new subsidiary is not expected to have any material effect on the earnings or net assets of OCK for the financial year ending 31 December 2016.
Directors’ and Major Shareholder’s Interest
Mr Ooi Chin Khoon and Mr Low Hock Keong have declared their interests by virtue of the fact that they are the directors and/or shareholder in Well Synergy.
Apart from the above, none of the directors or substantial shareholders of OCK and/or persons connected with them has any interest, direct or indirect, in the said incorporation.
This announcement is dated 17 November 2016.
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2016-11-17 19:05 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5261445
We refer to announcements dated 14 July 2016, 7 September 2016, 10 November 2016 and 16 November 2016 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.
The Par Value Reduction which was COMPLETED on 16 November 2016 has resulted in:
(1) the reduction in the par value of existing SGB Shares from RM0.50 each to RM0.25 each; and
(2) the reduction in the par value of existing ICPS from RM0.05 each to RM0.025 each.
This announcement is dated 17 November 2016.
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2016-11-12 05:23 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5257249
With reference to the Company's previous announcement dated 18 November 2015, the Board of Directors of DBE wishes to announce that its wholly-owned subsidiary, D.B.E. Poultry Sdn Bhd (“DBE Poultry”) has on 11 November 2016 renewed two (2) Supply of Poultry Products Agreements (“Agreements”) with KFC (Peninsular Malaysia) Sdn Bhd (26388-T) (“KFCPM”) and QSR Stores Sdn Bhd (1098054-H) (“QSR”) (collectively hereinafter referred to as “Retailers”), to continue supplying poultry products to the Retailers for a period effective from 1 January 2017 to 31 December 2017.
Please refer to the attachment for further details of the transaction.
This announcement is dated 11 November 2016.
---> Supply to KFC / Pizza Hut, income is more reliable.
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2016-11-11 19:07 | Report Abuse
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Stock: [RA]: R&A TELECOMMUNICATION GRP BHD
2017-02-22 20:34 | Report Abuse
Reference is made to the announcement dated 16 December 2016 in relation to the further extension of time application of up to 30 April 2017 to submit the regularisation plan to the relevant authorities. On behalf of the Company, M&A Securities Sdn Bhd is pleased to announce that after due consideration of all facts and circumstances of the matter by Bursa Malaysia Securities Berhad ("Bursa Securities"), including the following:-
(i) following the termination of the negotiations with Datuk Lau Beng Wei, Lau Beng Sin, Lee Wah Lian and Lee Teck Wee for the acquisition of all the equities interest of Synergy Goldtree Sdn Bhd on 13 December 2016, the Company subsequently had on 19 December 2016 entered into a heads of agreement with Lean Kock Kiang and Lee Sek Ang (collectively, the "Vendors") for the proposed acquisition of the entire issued and paid up share capital of Forward Resources and Construction Sdn Bhd ("FRCSB") from the Vendors;
(ii) the Company had on 18 January 2017 entered into a framework restructuring agreement ("Framework Restructuring Agreement") with the Vendors and FRC Resources Sdn Bhd. Subsequent to the signing of the Framework Restructuring Agreement, the Vendors had deposited an aggregate sum of RM2.5 million with their solicitors to be utilised for the settlement of the scheme creditors of the Company and its wholly-owned subsidiary under the debt restructuring scheme; and
(iii) a team of advisers for the Company's regularisation plan had been appointed and commenced the due diligence exercise on FRCSB.
Bursa Securities has decided to grant the Company a further extension of time up to 30 April 2017 to submit its regularisation plan to the relevant authorities ("Further Extended Timeframe") subject to the Company making the Requisite Announcement on or before 15 March 2017.
Bursa Securities further decided to de-list the securities of the Company from the Official List of Bursa Securities pursuant to Rule 8.04 of the ACE Market Listing Requirements of Bursa Securities ("ACE LR") in the event that:-
(i) the Company fails to make the requisite announcement on or before 15 March 2017;
(ii) the Company fails to submit the regularisation plan to the relevant authorities for approval within the Further Extended Timeframe i.e. on or before 30 April 2017;
(iii) the Company fails to obtain the approval for the implementation of its regularisation plan and does not appeal within the timeframe (or Extended timeframe, as the case may be) prescribed to lodge an appeal;
(iv) the Company does not succeed in its appeal; or
(v) the Company fails to implement its regularisation plan within the timeframe or extended timeframes stipulated by the relevant authorities.
Upon occurence of any of the events set out in paragraphs (i) to (v) above, Bursa Securities shall remove the securities of the Company from the Official List of Bursa Securities upon the expiry of two (2) market days from the date of the Company is notified by Bursa Securities or on such other date as may be specified by Bursa Securities.
This announcement is dated 22 February 2017.