Parti Negara is urging Ministry Of Education to cancel the Scicom contract with EMGS and sue Scicom to recover about RM150 million that it earned from EMGS from 2015 until now.
Vanisha EMGS Chairman, Datuk Abdul Rahman has today confirmed to public that the contract signed with EMGS during BN time is ‘unfair, was done in haste and WITHOUT Cabinet Approval!!!
EMGS contract. To assuage concerns over its contract with EMGS, Scicom explained that it was one of 8 bidders for the EMGS contract in a tender by the then Ministry of Higher Education (MOHE). Pemandu (a government agency tasked with transforming the economy and government) had earlier conducted an impact study for MOHE on how to increase foreign students in Malaysia. MOHE had established EMGS and called for a tender to set up and operate the system. Scicom believed it won the competitive tender based on merit because it was the only tenderer that:
1) offered a revenue share model which allows the government to generate revenue to promote Malaysia’s higher education overseas. 2) reduced the processing fee, which fell from between RM4,000 and RM12,000 charged by colleges to RM1,000. Its solution also reduced the processing time from between 3 to 6 months to less than 14 days. 3) offered a a private finance initiative (PFI) model which spared the government from any upfront spending.
Based on the above, Scicom feels that its contract with EMGS is unlikely to be reviewed by the new government nor has it been invited by the government to be questioned. This comes at a time when the government is scrutinising any lopsided contracts undertaken by the previous administration. Scicom declined to reveal the remaining tenure of the contract but added that it has “some time to go” and has an option for 5 more years after the expiry.
Guys do read the above. Barrons confirm that in 2017, out of Scicom’s total earnings, 47% is from EMGS alone!
Stock: [SCICOM]: SCICOM MSC BHD May 24, 2019 3:47 PM | Report Abuse
Parti Negara is urging Ministry Of Education to cancel the Scicom contract with EMGS and sue Scicom to recover about RM150 million that it earned from EMGS from 2015 until now.
Aiyoh mati lor scicom
Stock: [SCICOM]: SCICOM MSC BHD May 24, 2019 3:36 PM | Report Abuse
EMGS Chairman, Datuk Abdul Rahman has today confirmed to public that the contract signed with EMGS during BN time is ‘unfair, was done in haste and WITHOUT Cabinet Approval!!!
PH Government is going to cancel it!
Stock: [SCICOM]: SCICOM MSC BHD May 24, 2019 3:35 PM | Report Abuse
SCICOM Bhd revenue from EMGS for 2018 is RM49 million ie RM1,000 x 49,000 students. This is 52% of their total revenue from Malaysia operations of RM94 million for 2018.
Now which moron is trying to fool investors by saying its less than 1%???
Boom. Scicom's lopsided patronage EMGS contract is terminated by the new Government. Wait for announcement soon.
Stock: [SCICOM]: SCICOM MSC BHD Jun 2, 2018 12:14 AM | Report Abuse
U can run mocics aka scicom corp comm but u cant hide anymore. Looks like this matter was spoken in the Board Meeting last week. Anyway u say it was won thru open tender. Or pre arranged open tender thru one OxxR?? Sounds familiar? Perhaps the same name will crop up in Scicom College too? Provided new source of revenue to Ministry of Edu or to Scicom actually? RM1000 per student just to register in your system? The same system which are based in your MD's house right? Its getting really interesting...
Stock: [SCICOM]: SCICOM MSC BHD May 18, 2018 9:53 AM | Report Abuse
Damn!
Stock: [SCICOM]: SCICOM MSC BHD May 18, 2018 9:53 AM | Report Abuse
MiRA NewGen Party, a strategic partner of Pakatan Harapan, calls for investigation by PDRM and MACC against the lopsided long term contracts of Education Malaysia Global Services (EMGS) awarded to a public listed company (PLC) by the former BN Govt which enabled the PLC to register unprecedented profits without basis. There also seems to be questionable deals done by the cronies of the former BN Govt in the formation of a College owned by the same PLC. We will discuss this matter with the new Home Minister soon as it involves national security since staffs of Immigration Dept are stationed in the PLC as part of EMGS. We will get to the bottom of this matter soon.
The most skeptical part was venisha posted that video in uoutube, if really owned shares why post that video, you could not sell in good price with such video. The real motive is wanna to buying cheap or owned no shares?
Heard Scicom boss asked his own people to buy more shares to falsely push up the price but their own senior staffs are refusing to do it....aiyoh real conman company la
‘Scicom Senior Vice President, Yeeling Wong said EMGS, a company limited by guarantee and approved by the Cabinet.’ - Freemalaysiatoday.com.
But EMGS Chairman himself admitted on video that ‘contract with Scicom is without Cabinet approval and that EMGS has recently wrote to Scicom about it’.
So who is lying here? Looks like Yeeling Wong is gonna be caught in trouble for lying for her boss.
yup, if vanisha has no confident with scicom, why just sold out rather than just keeping talking bad things since last year. The weird things is just commenting about this stocks. For me i will trust no one in my judgment with all the facts available.
Not yet cancel ma , just same as my eg case , many people worry cancel all from government contract , but eventually is no cancel , MY eg have rebound from 0.70 to 1.70 . Earn big big .
I think government will not to stupid like babi to cancel that contract , why cancel ? Government need money too . Scicom every year have pay tax to government , and EPF is an big shareholders .
Buy some to keep , scicom every year pay plenty dividend . No much company like scicom in bursa . Scicom now selling 0.84sen very attractive. Dividend super attractive lol
And EMGS revenue for FY 2018 if it was rm49 million.. which represents the biggest client in Malaysia, the impact on earnings, when the EMGS contract is revoked, will be very significant..
There is no transparency in the AR or QR on the revenues and profits on EMGS.. A call to the company confirmed that EMGS revenue is lumped into EPO... :(
Seems this Vanisha Selvam dude knows about the news earlier and keep asking people to sell and then he say he still holding half? What's the logic yeah?
The company did not reveal the revenue contribution from EMGS over the phone but asked to write in.. but confirmed that it was lumped into BPO.. It is funny way of reporting.. Possibly because EMGS is a client to Scicom.. It may mislead to think that it is a e-govt.. The likelihood of a revoke is high.. It ia puzzling that we have about 50,000 foreign students applying for visa annually via EMGS.. if the revenues of rm49 million in FY 18 from EMGS is true..
l3ryan Seems this Vanisha Selvam dude knows about the news earlier and keep asking people to sell and then he say he still holding half? What's the logic yeah?
REALLY WIERD AND CANNOT UNDERSTAND.. DID HE RECEIVE THE VIDEO RECORDINGS AFTER THE MARKET CLOSED LAST FRIDAY? AFTER THAT HE UPLAOADED IT TO YOUTUBE TO SABOTAGE HIS 50% BALANCE SALES TODAY?
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Vanisha
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Posted by Vanisha > 2019-05-24 15:47 | Report Abuse
Parti Negara is urging Ministry Of Education to cancel the Scicom contract with EMGS and sue Scicom to recover about RM150 million that it earned from EMGS from 2015 until now.
Aiyoh mati lor scicom