Posted by Good123 > 3 weeks ago | Report Abuse

actually, mlabs, asset rich including cash, the right issue is not neccessary punya... tak faham niat geng tersebut

Posted by Good123 > 3 weeks ago | Report Abuse

mlabs should just issue free warrants to all shareholders. surely some would exercise it... Rm1.66 NTA, now ~20sen hahaha

Posted by Good123 > 3 weeks ago | Report Abuse

Tile manufacturer cum property developer Seacera Group Bhd is partnering Ikhlas Al Dain Sdn Bhd, the indirect wholly owned unit of Mlabs Systems Bhd, to develop holiday villas in Kemaman, Terengganu that will have an estimated gross development value (GDV) of RM156.46 million.

In a bourse filing, Seacera said it on Friday (March 25) entered into a joint venture (JV) agreement with Ikhlas via its wholly-owned subsidiary, Seacera Builders Sdn Bhd (SBSB). Ikhlas was in August last year granted sole, exclusive rights by Ribuan Bakat Sdn Bhd to develop several plots of freehold Malay Reserve Land totalling 30.17 acres that Ribuan Bakat owns.

Under the JV agreement, SBSB will pay RM11.5 million to Ikhlas in the form of units developed on the plots to secure the plots’ development rights.

Seacera, said it may obtain financing from any reputable financier for the purpose of financing the development of the project after obtaining approvals from Ikhlas and Ribuan Bakat.

Datuk Seri Abdul Azim Mohd Zabidi, a director of both SBSB and Ikhlas, has abstained himself from any deliberation and decision-making involving the deal, the filing wrote.

The tile manufacturer said the JV represents an opportunity for it to further expand its revenue from property development.

Posted by Good123 > 3 weeks ago | Report Abuse

Under the JV agreement, SBSB will pay RM11.5 million to Ikhlas in the form of units developed on the plots to secure the plots’ development rights. reflected in mlabs' consol ac...

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As At As At
31.12.2023 30.06.2023
RM'000 RM'000
Note (unaudited) (audited)
ASSETS
Non-current assets
Property, plant and equipment 11,742 13,837
Right-of-use assets 2,296 2,590
Land development rights 11,215 11,215
Investment properties 18,449 18,424
Intangible assets 3,167 4,536
Other investments 5,775 4,725
Finance lease receivables 821 1,387
Trade receivables 69 239
Total non-current assets 53,534 56,953

Posted by Good123 > 3 weeks ago | Report Abuse

MLABS Systems Berhad and Seacera Group Bhd have entered into a joint venture to develop holiday villas in Kemaman, Terengganu. The project has an estimated gross development value (GDV) of RM156.46 million. The agreement involves Seacera’s wholly-owned subsidiary, Seacera Builders Sdn Bhd (SBSB), and Ikhlas Al Dain Sdn Bhd, an indirect wholly owned unit of MLABS. The development will take place on several plots of freehold Malay Reserve Land totaling 30.17 acres, owned by Ribuan Bakat Sdn Bhd1.

Under the terms of the joint venture, SBSB will pay RM11.5 million to Ikhlas in the form of units developed on the plots to secure the development rights.

Posted by Good123 > 3 weeks ago | Report Abuse

The partnership between MLABS Systems Bhd and LG Electronics is expected to bring in profit due to the master sales agreement for the distribution of LG products in Malaysia1. This agreement, which supersedes a previous memorandum of understanding, outlines the obligations and responsibilities of each party in the distribution process12.

The anticipation of profit from this partnership could be attributed to several factors:

Increased Revenue: The partnership is likely to increase sales and revenue for MLABS as they distribute LG’s products, which are popular and have a strong market presence.
Market Expansion: MLABS will benefit from LG’s established brand and wide range of products, potentially expanding its market reach and customer base in Malaysia.
Operational Efficiency: The collaboration may lead to improved operational efficiencies and cost savings through shared resources and expertise.

Posted by Good123 > 3 weeks ago | Report Abuse

MLABS Systems Bhd’s diversification into the factoring business through Ikhlas Al Dain Sdn Bhd is significant for several reasons:

Earnings Base Expansion: The move aims to expand MLABS’s earnings base and reduce the risk of business concentration1.
MOF-Approved Factoring: Ikhlas is approved by the Ministry of Finance to conduct factoring, development financing, leasing, and building credit, which allows it to collect payments directly from the ministry for invoices from government contractors and service providers1.
Financial Performance Improvement: The diversification is expected to improve MLABS’s financial performance and provide a better financial footing in the long run1.
Market Demand: There is a growing demand within the factoring market segment, which MLABS plans to tap into1.
Potential Contribution to Net Profit: The factoring business is anticipated to potentially contribute 25% or more of MLABS’s net profit1.
This strategic move is particularly important as MLABS has faced intense competition and was loss-making for years. By venturing into the factoring industry, MLABS is looking to leverage Ikhlas’s capabilities and market position to turn around its financial performance and secure a more profitable future

Posted by Good123 > 2 weeks ago | Report Abuse

:)

There are no specific rules that define oppression but the test is really whether there is commercial unfairness in the treatment of a shareholder.

The textbook definition of minority oppression refers to unfair treatment or behaviour by a corporation, likely controlled by a majority shareholder(s) or director(s) of a company that disregards the minority shareholders.

In most cases, the acts carried out are in the best interest of the majority shareholder(s) or director(s) at the expense of minority shareholders.

Minority shareholders need more protection

Posted by Good123 > 2 weeks ago | Report Abuse

https://www.klsescreener.com/v2/news/view/1305573

Posted by Good123 > 2 weeks ago | Report Abuse

protecting minority shareholders from being bullied or marginalized by majority shareholders is crucial for maintaining fairness and integrity in corporate governance. Close collaboration between regulatory authorities and watchdog groups can help ensure that minority interests are adequately represented and safeguarded.

Posted by Good123 > 2 weeks ago | Report Abuse

Bursa Malaysia (the stock exchange), the Securities Commission (SC), and minority watchdog groups like the Minority Shareholder Watchdog Group (MSWG) can collaborate in several ways to enhance corporate governance and protect minority shareholders' interests:

1. **Regulatory Framework**: The SC can provide a robust regulatory framework that encourages transparency and fairness in the market. This includes enforcing regulations that require companies to disclose material information promptly and accurately.

2. **Monitoring and Enforcement**: Bursa Malaysia can monitor listed companies for compliance with listing requirements, while the SC can take enforcement actions against companies that violate securities laws. Meanwhile, watchdog groups can keep an eye on corporate activities and report any irregularities to the authorities.

3. **Shareholder Activism**: Minority watchdog groups can promote shareholder activism by educating investors about their rights and how to exercise them effectively. They can also represent the interests of minority shareholders in engagements with company management.

4. **Research and Advocacy**: These groups can conduct research on corporate governance practices and advocate for policy changes that benefit minority shareholders. They can also publish reports and analyses to inform the public and regulators about the state of corporate governance in listed companies.

5. **Collaborative Initiatives**: Joint initiatives, such as the development of codes of conduct or stewardship codes, can be undertaken. For example, the Malaysian Code for Institutional Investors was developed to set out broad principles of effective stewardship by institutional investors².

6. **Financial Support**: The SC can provide financial support to watchdog groups to assist them in their setup and operational costs, as it did with a grant to Badan Pengawas¹.

By working together, these entities can create a more accountable and transparent market environment that is conducive to investment and economic growth.

Posted by Good123 > 2 weeks ago | Report Abuse

RSI(14) Neutral 47.5
Stochastic(14) Oversold 12.5
Average Volume (3M) 2,250,800

Posted by Good123 > 2 weeks ago | Report Abuse

need MWDG to help to protect Minority shareholders' interests. RM1.66 net assets per share after consolidation (20shares x 8.3sen@31.12.23).. cash and assets... corp governance reform is a must

Posted by Good123 > 2 weeks ago | Report Abuse

https://www.thestar.com.my/business/business-news/2024/04/10/tough-competition-for-ipos-as-markets-recover

Posted by Good123 > 2 weeks ago | Report Abuse

https://www.mondaq.com/shareholders/1154808/oppression-of-minority-shareholders-in-malaysia-am-i-being-oppressed

Posted by Good123 > 2 weeks ago | Report Abuse

Nta 8.3sen per share. Post share consol, nta rm1.66. Now ~20sen market price. Work with minority interest watchdog group to prevent directors stealing minority shareholders' money etc

Posted by Good123 > 2 weeks ago | Report Abuse

Mlabs: a growth stock .. quarterly sales UP, now with the islamic factoring even more convincing

a value stock NTA Rm1.66 (post share consol now), current price ~20sen. P/B value~0,12 dirt cheap

the caveat : the directors

Hopefully, the gang sells their stakes to a reputable party, its share price could rebound limitless, etc. :)

Posted by Good123 > 2 weeks ago | Report Abuse

MQ Trading Signals
Time

Signal

Duration

Type

2024-04-12 11:00:00

EMA 5

Hourly

BUY

2024-04-12 09:30:00

EMA 5

30 Mins

BUY

Posted by Good123 > 2 weeks ago | Report Abuse

NTA RM1.66 but current price is 20sen... MWDG must urge the directors on how to monetise to reward shareholders

Posted by Good123 > 2 weeks ago | Report Abuse

NTA RM1.66 per share now, jika directors curi pun masih sky high, with stronger surveillance by the authorities, which directors dare to steal, etc now? Directors committing fraud should be sentenced to death like Vietnam hopefully hehe

Posted by Good123 > 2 weeks ago | Report Abuse

RSI(14) Neutral 48.2
Stochastic(14) Oversold 16.7
Average Volume (3M) 2,304,800
Relative Volume 0.3

Posted by Good123 > 2 weeks ago | Report Abuse

after share consol, not much shares now. Market Cap RM14.5M based on 20sen now
Shares (mil) 72.47

Posted by Good123 > 2 weeks ago | Report Abuse

Live now:
63% BUY
37%SELL
2 70,900 0.195 0.200 194,400 6
11 635,500 0.190 0.205 312,500 13
9 602,900 0.185 0.210 200,000 9
6 569,700 0.180 0.215 300,000 8
1 200,000 0.175 0.220 200,000 2

Posted by Good123 > 2 weeks ago | Report Abuse

After 2.30pm today

Time Price Chg Vol
16:11:44 0.200 10,000
15:53:25 0.200 20,000
15:12:18 0.200 30,000
14:39:48 0.200 +0.005 1,600
14:39:04 0.195 19,100

Posted by Good123 > 1 week ago | Report Abuse

Tengok bursa ok with taktik lama geng tangan ghaib tak? Lepas syer consol, right issue pulak hehe

Jualkan semua quoted investments, dah more than cukup hehe

Posted by Good123 > 1 week ago | Report Abuse

Hope the authority would disallow the right issue. Macc should investigate, etc

Posted by Good123 > 1 week ago | Report Abuse

jika right issue tak jadi bagus... tengok pihak berkuasa akan menolak tak hehe

Posted by Good123 > 1 week ago | Report Abuse

hidden hand gang mau right issue, minta wang drp pemegang syer minoriti hehe

Posted by Good123 > 1 week ago | Report Abuse

there are some general concerns that regulators might consider when evaluating a company’s rights issue:

Dilution of Share Value: A rights issue can lead to a dilution of share value if it’s not managed properly. If the number of shares increases significantly without a corresponding increase in the company’s value, the price per share could decrease.
Financial Health: If a company is in poor financial health, a rights issue might be seen as a desperate attempt to raise funds, which could erode investor confidence.
Use of Proceeds: The company must clearly state how the proceeds from the rights issue will be used. If the use of proceeds is unclear or not in the best interest of the company and its shareholders, the rights issue might not be approved.
Fairness to Shareholders: The rights issue must be fair to all shareholders. If the rights issue is structured in a way that disadvantages certain shareholders, it might not be approved12.
Regulatory Compliance: The company must comply with all relevant regulations and disclosure requirements. If the company fails to do so, the rights issue might not be approved

Posted by Good123 > 2 days ago | Report Abuse

MB's son among six remanded over document forgery, false claims involving RM600,000
TheEdge Wed, Apr 24, 2024 03:33pm - 20 minutes



KANGAR (April 24): The son of a menteri besar is among six individuals remanded by the Malaysian Anti-Corruption Commission (MACC) here to assist in investigations regarding a case of submitting false documents and claims involving RM600,000 over the past two years.

Magistrate Ana Rozana Mohd Nor granted the remand order for all suspects from Wednesday to Thursday, following a request from the MACC to conduct investigations under Section 18 of the MACC Act 2009.

According to sources, two civil servants from the MB’s Office and the State Secretary's Office were also detained, along with contractors and owners of various companies.

“The suspects are believed to be owners of companies, contractors, and civil servants in the State Secretary's Administration Office and the Perlis MB’s Office.

“All six suspects, aged between 26 and 37, were detained in Perlis between 7am and 8am yesterday (Tuesday),” he said.

He said the case is being investigated relating to document forgery in making false claims when the project in question was not carried out. The project involved maintenance, repair, supply, and service works starting from 2022 until now, estimated to be worth RM600,000.

Meanwhile, in Putrajaya, a senior director of the Special Operations Division of the MACC, Datuk Azmi Kamaruzaman, confirmed the arrest.