The different i spot-on on DAYA and THHEAVY which both PN17. THHEAVY Still can pay bank loan interest but Daya could not. So the main trouble for the company to exit PN17 is ability to pay bank loan interest so that bank don't kacau them and they can plan exit PN17 . If bank keep on kacau ada susah sikit.
Hope, of course, everyone got. but the question can they make it. From their recent QR report, they are still formulating plan with the bankers and creditors. A lot of their asset now pledged to bankers, so if they default further banks may choose to take their asset which mainly are LANDS and BUILDINGS. They did sell few business which not make money but still their loan of RM 195 million to big to cover, which means their bank interest monthly around RM 500K. DAYA must quickly come out with share consolidation plan, ISSUE ICPS (but must find buyer first, baru BURSA believe them), then resubmit PN17 regularization plan. They have 2 biggest trouble to resolve BANKERS and BUYER FOR ICPS if issued. BELUM NAMPAK MACAM SELESAI THIS 2 thing yet. SMall issues like material litigation are not handled properly by DAYA . Comparison to THHEAVY they manage to convince CREDITORS to take up ICPS which is plus point and write off their debt almost like RM 200 million write off. THHEAVY have a bit better brain i geuss..
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YgAriff
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Posted by YgAriff > 2019-12-16 15:47 | Report Abuse
I thought they got a tender project worth millions?