Type Announcement Subject OTHERS Description MLABS SYSTEMS BERHAD (MLABS OR COMPANY) - INCORPORATION OF A WHOLLY-OWNED SUBSIDIARY COMPANY INTRODUCTION
The Board of Directors of Mlabs Systems Berhad ("Company") wishes to announce the incorporation of a new wholly-owned subsidiary, detailed as follows:-
Name of Company
:
Edition Assets Sdn. Bhd.
Country of Incorporation
:
Malaysia
Date of Incorporation
:
16 January 2018 Paid-Up Capital
:
RM1.00 represented by one (1) ordinary share
Intended Principal Activities
:
Investment in property
FINANCIAL EFFECTS
The aforesaid incorporation would not have any material effect on the Group's earnings per share or net assets per share of the Group for the financial year ending 31 March 2018.
INTEREST OF DIRECTORS AND/OR MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM
None of the Directors or major shareholder of Mlabs and/or persons connected to them have any interest, direct or indirect, in the aforesaid incorporation.
DIRECTORS' STATEMENT
The Directors of Mlabs, after having considered all aspects of the aforesaid incorporation, are of the opinion that the aforesaid incorporation are in the best interest of the Company.
Only good QR will push the price up, not news like incorporation, acquisition, HoA, share option scheme, memorandum of Intent, collaboration agreement, JV bla bla bla... wouldn't up the price.
That announcement meant Mlab is facing problems to meet immediate quarterly revenue based on existing business structure. That is not acquisition of the RM1 Edition Assets and it was purely registered a shell company. No effect at all and shameful to Mlab directors to make such an embarrassing news after all these disastrous performace months.
why worried? FACT :> Look at mlab equity vs liability and cash on hand from 2nd QR. Money is there, asset is there. Just a matter of time waiting for the return from the investment. GE14 will be a huge advantage for mlab. cheers
The situation is not what you think Elnasr...mlab lack of skillful directors to create revenue for the company....only knows spending but no brain to do business, otherwise investors don't dump it's shares....now to me only worth 0.065....
Mlab directors only know best how to con Netx and Fintec into buying mlab shares at 0.15 with free warrant....surely the Netx and Fintec are neither stupid nor dumb.... now only worth 0.065...trading today 0.08.....it just matter of time!
Dusana, we can't b that stupid like NETX and FINTEC....knowing the fact mlab directors are good for nothing except spending....acquired Edition Assets S/B also create a brainless news, don't you agreed?
@Steve_usa no worry about the ceo ability, some1 will shopping around the stock market and kick the ceo out...as long as your company have huge potential and $, there have always some1 willing to get in and minum kopi overthere.....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kun1971kun
1,211 posts
Posted by kun1971kun > 2018-01-15 12:18 | Report Abuse
Cannot do anything.......