The Board of Directors of DMB wishes to announce that Daya CMT Sdn Bhd (“DCMT”), a 51.0%-owned subsidiary of DMB, has entered into a conditional sale and purchase agreement with Wanjun Engineering Sdn Bhd ("WESB") today for the proposed disposal by DCMT of a parcel of leasehold land held under Pajakan Negeri 2864, Lot 8071, Mukim 12, District of Barat Daya, State of Pulau Pinang together with industrial premises comprising a double-storey office building with an annexed single-storey detached factory, a single-storey warehouse with an annexed double-storey detached office building and other ancillary buildings erected thereon to WESB for a cash consideration of RM10,328,000 (“Proposed Disposal”).
Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Listing Requirements”), the Board of Directors of the Company wishes to announce that the Company’s independent auditors, Messrs Baker Tilly Monteiro Heng PLT, had expressed a disclaimer of opinion in the audited financial statements of the Group (as defined herein) and of the Company for the 18-month financial period ended 30 June 2020.
A copy of the independent auditor’s report is attached herewith.
The Company is in the midst of formulating and implementing a debt restructuring scheme, which is envisaged to address the key matters in relation to the disclaimer of opinion, and shall form part of the overall regularisation plan to regularise the financial condition of DMB and its subsidiaries (collectively, the “Group”) (“Regularisation Plan”) pursuant to Practice Note 17 (“PN17”) of the Listing Requirements.
The Company has approximately four (4) months to submit its Regularisation Plan to the regulatory authorities for approval.
The Company will make the necessary announcement on further development of the Regularisation Plan in accordance with the requirements under PN17 of the Listing Requirements.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 264 views | 1 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11413 views | 9 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
constantine007
92 posts
Posted by constantine007 > 2020-09-28 00:00 | Report Abuse
because daya still trade on bursa...thats why i said still survive...