PETALING JAYA: MQ Technology Bhd Tuesday, 07 Feb 2023
MQ Tech expects outlook to remain positive. The group remains concentrated on high-precision tooling and automation, in addition to our venture into the theme park and property development sector.
MQ Tech announced that it is acquiring a piece of 7.16-acre land in Klebang, Melaka for RM19.5mil. Upon completion of the proposed acquisition, MQ Tech intends to develop two blocks of 27-storey serviced suites, housing a total of 1,000 residential suites and 80 shop lots each. While the exact gross development value (GDV) and gross development cost (GDC) of the proposed project could not be calculated at this juncture, MQ Tech nonetheless estimates the GDC to be RM200mil and the GDV is approximated at RM275mil, which would give the company a gross development profit of RM75mil.
Just followed Chung Chee Yang on stock pick n investing! He has bought millions of units in MQTech after d GE15 election! He is d single largest shareholder of Cypark Resources since September 2022.
Directors continue to issue shares at cheap price to reward employee even though company business failed to bring in profits
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MQ TECHNOLOGY BERHAD ("MQ TECH" or "the Company")
(a) Date of offer: 3 March 2022 (b) Exercise price of options offered: RM 0.0397 each (c) Number of options offered: 50,000,000 (d) Market price of MQ TECH shares on the date of the offer: RM0.0450 (e) Number of options offered to employee of MQ TECH: 50,000,000
============ Expect directors to continue share issuance to PP, ESOS, RI to raise more fund to sustain business losses
NOSH continue to increase. Long term loyal retail shareholder equity % continue to decrease
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
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PETALING JAYA: MQ Technology Bhd
Tuesday, 07 Feb 2023
MQ Tech expects outlook to remain positive. The group remains concentrated on high-precision tooling and automation, in addition to our venture into the theme park and property development sector.
MQ Tech announced that it is acquiring a piece of 7.16-acre land in Klebang, Melaka for RM19.5mil. Upon completion of the proposed acquisition, MQ Tech intends to develop two blocks of 27-storey serviced suites, housing a total of 1,000 residential suites and 80 shop lots each. While the exact gross development value (GDV) and gross development cost (GDC) of the proposed project could not be calculated at this juncture, MQ Tech nonetheless estimates the GDC to be RM200mil and the GDV is approximated at RM275mil, which would give the company a gross development profit of RM75mil.