The Board of Directors of Asia Bioenergy Technologies Berhad (“ABT” or “the Company”) wishes to announce that its wholly-owned subsidiary, Asiabio Capital Sdn. Bhd. has on 15 September 2017 acquired 75,100,000 shares of Mlabs Systems Berhad (“MLABS”), representing 13.16% equity interest in MLABS, via the subscription of the rights and excess shares of MLABS at an issue price of RM0.15 each (“Shares”) for a total cash consideration of RM11,265,000 (“Consideration”). Pursuant to the acquisition, Asiabio Capital Sdn. Bhd. will also be issued 37,550,000 free Warrants B of MLABS.
The Subscription is part of ABT Group’s decision to invest in quoted securities that have growth prospect. ABT Group is optimistic that the Subscription will provide a positive return in the near term given MLABS’s plans to develop and market a mobile application that has multipoint voice call features that enable multi-users to join audio and video conferences remotely, and enable users to send secured texts and access to voice calls via the application. This will complement MLABS’s core business and enhances the marketability of its videoconferencing products via capitalizing on the growing trend of video and audio conferencing over mobile technologies.
I think this consider as a good news for mlab. Up for this coming monday
With so much cash in hand, Mlabs could do wonder with the cash if put up for good use. Maybe Mlabs may acquire some shares in Taobao, China so that Malaysians like me could buy cheaper stuff from Alibaba or goods sold on weibo. Surely Mlabs share price would react positively to the new venture.
Gd Sharing! I especially like all your corporate news. Pl give useful n relevant links too in order to substantiate your pts wherever necesary. Thank u n thank u again. I really appreciate all your effort!
Old news but is it possible more such good news coming soon ?? Long term buy ??
Mlabs Systems Bhd’s unit has bagged a US$10 million (RM42.8 million) contract for computer generated imagery production work.
The group told Bursa Malaysia that its wholly owned subsidiary Multimedia Research Lab Sdn Bhd has accepted a letter of award from Red Dragon Media Ltd for the contract. The contract will then be transferred to a joint-venture company, tentatively named Gold Dragon Media Sdn Bhd. It is valid until June 2018.
"The contract is expected to contribute positively towards Mlabs group's earnings and net assets for the financial year ending March 31, 2018," it noted.
Anyone buying lower than 0.15 should be thankful because you are buying cheaper than NexX and Anzo with the entry price of 0.15, any price lower than that is good
Very oversold .....someone must have been unloaded the stock in millions just to suppress the price n later bought in at lows of 9-9.5 c....the same old tactic resurfaced again . But sadly , no one came to intervene the abnormal way of trading let alone the enforcement authority.
Leslie, willing sellers willing buyers is legal ma. it is just part n parcel of the game n nobody will side the retailers, esp those who bought at peak ones will be left to rot. The price suppression may last a duration of 1 year or two for accumulation purposes b4 the price explosion to reward the bottom fishing investors lucrative return of 2 to 3 folds the cost of investment.
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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....
tecpower
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Posted by tecpower > 2017-09-15 23:10 | Report Abuse
Anzo - Asia bioenergy - Mlab
Anzo and Asia Bioenergy have a common director, so Anzo has something to do with Mlab.