Mudarabah Factoring Model For SMEs by MRA Razak · 2017 — This is where we believe a financing tool like factoring, especially Islamic factoring, can play a pivotal role. Factoring is a type of financial transaction .
Make sense bagi netx to swallow mlabs via share swap... Great synergy
KUALA LUMPUR (July 29): NetX Holdings Bhd, which slipped into the red for the second quarter ended May 31, 2022 (2QFY22), entered into a deal on Friday (July 29) to provide its Syariah-compliant loan products to customers of fintech company MYISCO Sdn Bhd.
NetX said its subsidiary, licensed money lender Emicro Services Sdn Bhd (eMicro), will be one of the companies to list its financial products on MYISCO’s digital Islamic financial services platform called MYISCO Wallet.
Under the deal, 20% of the net revenue received by eMicro through the personal financings will go to MYISCO with eMicro keeping the other 80%, said NetX in a filing with Bursa Malaysia.
MIYSCO is a wholly-owned subsidiary of MyAngkasa Digital Services Sdn Bhd, a private company led by Angkatan Koperasi Kebangsaan Malaysia (Angkasa), MyAngkasa Holdings Sdn Bhd, Boustead Digital Services Sdn Bhd, MySwitch Sdn Bhd and MRuncit Commerce Sdn Bhd.
The MYISCO Wallet aims to provide a digital wallet experience to people in the ASEAN region.
In a press statement, NetX said seven million registered members of Angkasa will now have access to eMicro’s financial products.
“In terms of the features, MYISCO deployed an artificial intelligence engine that can instantly match different customer’s needs and financial product categories.
“Upon completion of the application, MYISCO’s customers are able to withdraw the money through the MYISCO Wallet or designated bank account within one working day,” NetX said.
In a separate filing on Friday, NetX reported a net loss of RM183,000 for 2QFY22 compared to a net profit of RM241,000 a year earlier.
The software company said the loss was due to fair value adjustment on quoted investment of RM1.25 million, and a rise in operating and administrative expenses by RM730,000. The company was also affected by a rise in interest by RM430,000 from loans in Sungei Wang Plaza Sdn Bhd, which was acquired on Sept 30, 2021.
Quarterly revenue rose to RM3.32 million from RM1.7 million, thanks to new revenue on sales of foreign currencies after the group acquired a new licensed money changer subsidiary on Oct 28, 2021.
There was also higher interest earned from its money lending segment, NetX added.
For the first six months of FY22, the company saw its net loss narrow to RM3.37 million from RM10.2 million in the same period of FY21. Revenue rose to RM6.19 million from RM5.47 million.
NetX shares closed unchanged at nine sen on Friday, valuing the group at RM75.24 million.
Modus operandi of many loss making penny stocks 1. Directors fail in generating business profit 2. Show Multi year losses, multi quarter losses 3. Directors repeatedly do fund raising via shares issuance to PP, ESOS and asset acquisition 4. Directors utilise most of the fund raised 5. When NOSH reach unmanageable Billions of shares, directors do shares consolidation, follow by fund raising via rights issue 6. Repeat step 1 to 5
SINGAPORE (Dec 28): John Soh Chee Wen, who has been found guilty of masterminding the 2013 penny stock crash, has been sentenced to 36 years in jail while his co-conspirator Quah Su-Ling is given 20 years.28 Dec 2022
Penny stock crash mastermind John Soh sentenced to 36 ...
The Securities Commission is actively curbing capital market irregularities, contrary to the general perception, says chairman Datuk Seri Dr Awang Adek Hussin.
Beware of cyber scam Mymmar, Cambodia, Dubai, Korea. Once go in, forever cannot come out. Organized crime gangs behind Asia’s so-called "scamdemic" have set up remote bases in Myanmar’s border area with China — locations that are hard for police to reach and where the trafficking victims they use to perpetrate online scams have little hope of escape, a U.N. report said Tuesday.
Billions of dollars have been scammed by powerful Chinese and Taiwanese crime groups based in the Mekong region — as well as in the Philippines — who bombard the internet with romance scams, extortion and investment pyramid schemes.
While some crackdowns have taken place in Cambodia and the Philippines, the crime groups are refining their scams from fortified compounds under the protection of ethnic rebels in conflict-torn Myanmar, the United Nations Office on Drugs and Crime said in its report.
fraud ka? selalu receievables write off as bad debts kan? call for special audit,,,, fraud in approving credit limit to puak2 tertentu ka?
The Group recorded loss after tax of RM4.31 million as compared to the immediate preceding quarter’s loss after tax of RM5.89 million due to impairment on other investment, impairment loss on trade and other receivables and higher tax expense in the preceeding quarter.
The Group recorded loss after tax of RM4.31 million as compared to the immediate preceding quarter’s loss after tax of RM5.89 million due to impairment on other investment, impairment loss on trade and other receivables and higher tax expense in the preceeding quarter.
Changes in Sub. S-hldr's Int (Section 138 of CA 2016) MLABS SYSTEMS BERHAD
Particulars of substantial Securities Holder Name NETX HOLDINGS BERHAD Address 22-09, Menara 1MK No. 1 Jalan Kiara, Mont Kiara Kuala Lumpur 50480 Wilayah Persekutuan Malaysia. Company No. 200001030834 (533441-W) Nationality/Country of incorporation Malaysia Descriptions (Class) Ordinary Shares Details of changes No Date of change No of securities Type of Transaction Nature of Interest 1 16 Oct 2023 810,000 Disposed Deemed Interest Name of registered holder FIRST UNITED TECHNOLOGY LTD Address of registered holder 17th Floor of The L. Place, No.139 Queens Road Central, Hong Kong Description of "Others" Type of Transaction
Circumstances by reason of which change has occurred Disposed of shares by First United Technology Ltd via open market transaction Nature of interest Deemed Interest Direct (units) 0 Direct (%) 0 Indirect/deemed interest (units) 228,230,250 Indirect/deemed interest (%) 15.75 Total no of securities after change 228,230,250 Date of notice 18 Oct 2023 Date notice received by Listed Issuer 18 Oct 2023
Announcement Info Company Name MLABS SYSTEMS BERHAD Stock Name MLAB Date Announced 18 Oct 2023 Category Change in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016 Reference Number CS2-16102023-00118
:( Changes in Sub. S-hldr's Int (Section 138 of CA 2016) MLABS SYSTEMS BERHAD
Particulars of substantial Securities Holder Name NETX HOLDINGS BERHAD Address 22-09, Menara 1MK No. 1 Jalan Kiara, Mont Kiara Kuala Lumpur 50480 Wilayah Persekutuan Malaysia. Company No. 200001030834 (533441-W) Nationality/Country of incorporation Malaysia Descriptions (Class) Ordinary Shares Details of changes No Date of change No of securities Type of Transaction Nature of Interest 1 12 Oct 2023 5,104,900 Disposed Deemed Interest Name of registered holder FIRST UNITED TECHNOLOGY LTD Address of registered holder 17th Floor of The L. Place, No.139 Queens Road Central, Hong Kong Description of "Others" Type of Transaction 2 13 Oct 2023 1,190,000 Disposed Deemed Interest Name of registered holder FIRST UNITED TECHNOLOGY LTD Address of registered holder 17th Floor of The L. Place, No.139 Queens Road Central, Hong Kong Description of "Others" Type of Transaction
Circumstances by reason of which change has occurred Disposed of shares by First United Technology Ltd via open market transaction Nature of interest Deemed Interest Direct (units) 0 Direct (%) 0 Indirect/deemed interest (units) 229,040,250 Indirect/deemed interest (%) 15.8 Total no of securities after change 229,040,250 Date of notice 16 Oct 2023 Date notice received by Listed Issuer 16 Oct 2023
Announcement Info Company Name MLABS SYSTEMS BERHAD Stock Name MLAB Date Announced 16 Oct 2023 Category Change in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016 Reference Number CS2-13102023-00089
MULTIPLE PROPOSALS MLABS SYSTEMS BERHAD ("MLABS" OR "COMPANY") (I) PROPOSED SHARE CONSOLIDATION; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS (COLLECTIVELY, THE "PROPOSALS") MLABS SYSTEMS BERHAD
Type Announcement Subject MULTIPLE PROPOSALS Description MLABS SYSTEMS BERHAD ("MLABS" OR "COMPANY")
(I) PROPOSED SHARE CONSOLIDATION; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS
(COLLECTIVELY, THE "PROPOSALS") We refer to the announcement made on 25 October 2023 in relation to the Proposals (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.
On behalf of the Board, TA Securities wishes to announce that the applications in relation to the Proposed Share Consolidation, admission of the Warrants D to the Official List of Bursa Securities and listing of and quotation for the Rights Shares, Warrants D and Additional Consolidated Warrants C as well as new Shares to be issued pursuant to the exercise of the Warrants D and Additional Consolidated Warrants C on the ACE Market of Bursa Securities have been submitted to Bursa Securities on 26 October 2023.
This announcement is dated 26 October 2023.
Announcement Info Company Name MLABS SYSTEMS BERHAD Stock Name MLAB Date Announced 26 Oct 2023 Category General Announcement for PLC Reference Number GA1-26102023-00051
ACGA analyst Chris Leahy said regulators' efforts are hampered by political interference and material delays in cases that are prosecuted through the Attorney General's Office, even where SC has the right of audience as deputy prosecutors.
"We have seen this in some high-profile market manipulation, insider dealing and corruption cases where actions against certain subjects are inexplicably dropped despite material evidence to support prosecution."This casts serious doubts on Malaysia's appetite to tackle political and business corruption."
Leahy said despite creditable efforts by SC and Bursa Malaysia to enforce securities violations such as insider trading and market manipulation, these issues continue to be a material problem for Malaysia's securities markets.
Many of these problems occur among small-cap companies listed on Bursa Malaysia that have smaller free floats and are easier for insiders and market syndicates to control and manipulate
Executives from SC and Bursa Malaysia, during a discussion admitted that this issue continues to be problematic for Malaysia's markets, he said.This shows they have a difficult job to do, added Leahy.
With the prevalence of political influence within the legal systems and the ability of certain insiders to exploit their influence to ensure legal impunity, issues with insider trading and market manipulation are unlikely to improve without a sea of change within Malaysia's political system.
"This change is not something that will happen overnight, if at all," said Leahy.
ACGA analyst Chris Leahy said regulators' efforts are hampered by political interference and material delays in cases that are prosecuted through the Attorney General's Office, even where SC has the right of audience as deputy prosecutors.
"We have seen this in some high-profile market manipulation, insider dealing and corruption cases where actions against certain subjects are inexplicably dropped despite material evidence to support prosecution."This casts serious doubts on Malaysia's appetite to tackle political and business corruption."
Leahy said despite creditable efforts by SC and Bursa Malaysia to enforce securities violations such as insider trading and market manipulation, these issues continue to be a material problem for Malaysia's securities markets.
Many of these problems occur among small-cap companies listed on Bursa Malaysia that have smaller free floats and are easier for insiders and market syndicates to control and manipulate.
Executives from SC and Bursa Malaysia, during a discussion admitted that this issue continues to be problematic for Malaysia's markets, he said.This shows they have a difficult job to do, added Leahy.
With the prevalence of political influence within the legal systems and the ability of certain insiders to exploit their influence to ensure legal impunity, issues with insider trading and market manipulation are unlikely to improve without a sea of change within Malaysia's political system.
"This change is not something that will happen overnight, if at all," said Leahy.
Malaysia patut ikut cara China, delist sykt2 yg tak baik, dll.
The number of companies delisted from China’s stock markets are approaching a record high this year, with about half of them losing their listing status after languishing below par value.
KUALA LUMPUR (Jan 16): Ageson Bhd, which is involved in mineral resources trading, property development and engineering, procurement, construction and commissioning, has appointed Virdos Lima Consultancy (M) Sdn Bhd (VL Consultancy) to look into audit issues and matters raised by its external auditor Messrs Jamal, Amin & Partners and their basis for expressing a disclaimer of opinion on the company’s audited financial statements for the 18-month financial period ended Dec 31, 2022 (FPE2022).
In a filing with Bursa Malaysia on Tuesday, Ageson said its external auditor had raised concerns on certain audit issues which encompasses transactions within the company and three other subsidiaries, namely Ageson SMSGMBH Sdn Bhd, Ageson Power Sdn Bhd and Ageson Industrial Sdn Bhd.
VL Consultancy will conduct an independent assessment in relation to the audit issues raised by the external auditor based on the following scope of works:
1) ascertain the veracity and appropriateness of the revenue, cost of sales and expenses reported from the trading of construction materials and impairment of other receivables presented in the statement of profit or loss and other comprehensive income for the company, Ageson SMSGMBH and/or Ageson Power; 2) evaluate the valuation methods and credibility of the entity engaged for the valuation of intangible assets of Ageson Industrial by ensuring Ageson Industrial meets the requirements set by regulatory bodies and professional standards; and 3) evaluate the treatment of capitalisation of debt assignment within the group.
VL Consultancy will commence its fieldwork on Jan 26 and is expected to complete the independent assessment by end-March this year, subject to Ageson’s compliance with the terms set out in the engagement agreement between VL Consultancy and Ageson.
Ageson slipped into Practice Note 17 status on Nov 1, 2023, following the disclaimer of opinion by Messrs Jamal, Amin & Partners.
Its share price closed unchanged at 6.5 sen on Tuesday, giving it a market capitalisation of RM18.8 million. The stock has fallen 67.5% over the past one year.
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....
Good123
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Posted by Good123 > 2022-12-06 18:35 | Report Abuse
sungguh indah, islamic factoring biz mlabs :)
Mudarabah Factoring Model For SMEs
by MRA Razak · 2017 — This is where we believe a financing tool like factoring, especially Islamic factoring, can play a pivotal role. Factoring is a type of financial transaction .