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Agreement between XINGHE and ASFAR is TERMINATED but it will NOT have any material effect on the earnings. Reason is WINDING UP PROCEEDINGS on ASFAR. XINGHE is really a responsible company for any agreement. XINGHE might have another planning for development of the business expansion in future.
XINGHE HOLDINGS BERHAD
Type Announcement Subject OTHERS Description Exclusivity Agreement entered into between XingHe Holdings Berhad ("XHHB" or "the Company") and Arab Supplier Fabrication and Retail Sdn Bhd (Asfar) (Agreement) Unless otherwise defined, abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the Company’s announcement dated 31 March 2015.
The Board of Directors of XHHB wish to announce that a letter of termination dated 9 November 2015 has been delivered by the Company to Asfar for the termination of the Agreement (“Letter”), which will take effect within seven (7) days from the date of the Letter.
As stated in the Letter, the aforementioned termination arose due to winding up proceedings having been filed on Asfar.
The termination of the Agreement will not have any material effect on the earnings, net assets and gearing of the Company and the Group for the financial year ending 31 December 2015.
XINGHE is still undervalued and since the termination, the company might use the existing fund for SHARE BUYING BACK from market. Quarterly report shall be announced on coming 26/11/2015.
(1) XINGHE will have another business development since termination with ASFAR ; AND (2) XINGHE has dividend guaranteed ; AND (3) XINGHE cash and bank balances have RM2.79 billion (which is more than its share price market value of ONLY RM1.52 billion) ; AND (4) China demand boosts peanut oil prices and China's peanut appetite forces local oil mills to close ; AND (5) XINGHE next quarter report will be announced soon latest by 26/11/2015 ; AND (6) Share buying back is possible since the termination of joint venture with ASFAR.
ayamtua, now midnight already, why no taking rest? mostly your friend ayamperempuan, ayamcucu, ayamcici semua sudah tidur already... :-D but i support u...xinghe...up up up... :-D :-D :-D
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....
sg999
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Posted by sg999 > 2015-11-10 22:08 | Report Abuse
ALL IN XINGHE 0095