Posted by MZM2511 > 2021-12-02 16:30 | Report Abuse

Excerpt from the above article......... To recap, the contribution of the construction works were mainly from acquisition 51% of Sung Master Holdings S/B (SMH) in 26th April 2021.
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I want to differ.....

The contribution from Sung Master not yet recorded in this QR report as the Sung Master acquisition completed only on 30 September 2021.

Note: The 2QR 2022 ended on 30 Sept 2021.

Explaination:

1. On behalf of the Board, UOB Kay Hian wishes to announce that 769,513,179 new Kanger Shares and 713,157,273 new Kanger Shares issued pursuant to the Subscription and Acquisition respectively, were listed and quoted on the ACE Market of Bursa Securities with effect from 9.00 a.m. on Thursday, 30 September 2021, which marks the completion of the Proposals.

2. The contribution or revenue from Sung Master as a subsidiary which involved in building materials trader (if any) should not be classified as a revenue from construction.

3. The revenue from construction stated in the 2QR 2022, I think it is derived from its construction activities which started in June 2021.

The construction activities could be refered to a Genting Highland construction project contract with contract value RM478 million which involved Vengetta Champion Sdn. Bhd. and Kanger Ventures Sdn. Bhd. Earlier, the company announced that the Project is expected to commence in June 2021 and to be completed in 48 Months. The construction project contract under this collaboration agreement will start in June 2021.

Posted by Jack Khan > 2021-12-05 17:46 | Report Abuse

why not going down another 100% if the pandemic drag on for another years?

Posted by stockraider > 2021-12-06 08:47 | Report Abuse

Kon counter avoid lah!

Sure kena cheat one...cry also no tears mah!