For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 5 May 2015 in relation to GN3, where applicable, unless stated otherwise or defined herein.
Further to the Company’s announcement dated 1 March 2016 in compliance with Paragraph 4.1 of GN3, the Board of Directors of RA wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a regularisation plan to address its GN3 status (“Regularisation Plan”).
Premised on the First Announcement, the Company is required to submit the Regularisation Plan to the relevant authorities by 5 May 2016 which is approximately one (1) month from the date hereof.
The Board of Directors of R&A wishes to inform that the Company and RASB, a wholly-owned subsidiary of the Company, had on 5 April 2016 been served a Writ of Summons and Statement of Claim by UOB.
1. The date the Writ of Summons and Statement of Claim was served on the listed issuer and its subsidiary.
The Writ of Summons and Statement of Claim is dated 31 March 2016. The same was served on the Company and RASB by solicitors acting for the Plaintiff on 5 April 2016.
2. The particulars of the claims under the Writ of Summons and Statement of Claim, including the amount claimed for and the interest rate.
The claims pursuant to the Writ of Summons and Statement of Claim are as below:-
(a) The sum of RM776,529.95 as at 31 December 2015 together with interest thereon at a rate of 3.50% per annum above the Plaintiff’s Base Lending Rate (“BLR”) on monthly rest basis from 1 January 2016 until the date of full payment;
(b) Costs on an indemnity basis; and
(c) Such other reliefs as the Court may deem fit.
The matter has been fixed for case management on 28 April 2016 at Kuala Lumpur Sessions Court.
3. The details of the default or circumstances leading to the serving of the Writ of Summons and Statement of Claim on the listed issuer and its subsidiary
The serving of the Writ of Summons and Statement of Claim is a result of RASB failing to settle the outstanding amount of RM776,529.95 for credit facilities granted by the Plaintiff to RASB.
4. Whether RASB is a major subsidiary of R&A
RASB is a major subsidiary of R&A.
5. The financial and operation impact of the Writ of Summons and Statement of Claim on the Group.
The financial and operational impact of the Writ of Summons and Statement of Claim on the Group is limited to the amount claimed for as per the Writ of Summons and Statement of Claim.
6. The expected losses, if any, arising from the Writ of Summons and Statement of Claim
The Writ of Summons and Statement of Claim is not expected to result in any losses but it may have an impact on the Company’s cash position.
7. The steps taken and proposed to be taken by the Company in respect of the Writ of Summons and Statement of Claim
R&A is expected to address this issue via a regularisation plan. Once the regularisation plan is finalised, a settlement is proposed to be put forward to our creditors.
alrdy dead?......but if anyone wish to sell, I'm willing to bet at 0.0025, pls pm me if you want a deal........willing selling, willing buying, no offend ya...
but you might say, I rather burn it or dump it into the sea also I wont sell to you at that price, well, it is totally your call ya....again I said it, no offend.
Further to the Company’s announcement made on 22 December 2015, the Board of Directors of R&A wishes to announce that RASB had on 13 April 2016 been served a sealed Judgment dated 9 March 2016 by the Plaintiff, wherein RASB was directed to pay to the Plaintiff:-
(a) the sum of RM93,370.00;
(b) late payment interest of RM7,432.05 (calculated at a rate of 1.5% per month from 14 July 2014 to 31 August 2015) and further interest accrued thereon until the date of full settlement; and
The Board of Directors of R&A wishes to announce that the Company is unable to release its annual report for the financial year ended 31 December (“FYE”) 2015 (“Annual Report 2015”) to Bursa Malaysia Securities Berhad (“Bursa Securities”) by 30 April 2016 ("Relevant Timeframe") pursuant to Rule 9.23(1) of the ACE Market Listing Requirements of Bursa Securities ("ACE LR") due to more time needed by the auditors of the Company to finalise the audited financial statements for FYE 2015.
In view of the above, R&A targets to release its Annual Report 2015 to Bursa Securities not later than two (2) months from 30 April 2016.
Pursuant to Rule 9.28(5) of the ACE LR, if the Company fails to issue the Annual Report 2015 within five (5) market days after the expiry of the Relevant Timeframe i.e. 9 May 2016 (“Suspension Deadline”), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of the Company. The suspension shall be effected on the market day after the expiry of the Suspension Deadline and will be uplifted on the market day following the issuance of the Annual Report 2015 unless otherwise determined by Bursa Securities.
This counter will be suspended on 10th May 2016 for at least 2 months. Thereafter, if no AR presented, ( I'm sorry to say this )..... RA will be cremated!
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....
crystal168
1,663 posts
Posted by crystal168 > 2016-04-02 15:55 | Report Abuse
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5047909
For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 5 May 2015 in relation to GN3, where applicable, unless stated otherwise or defined herein.
Further to the Company’s announcement dated 1 March 2016 in compliance with Paragraph 4.1 of GN3, the Board of Directors of RA wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a regularisation plan to address its GN3 status (“Regularisation Plan”).
Premised on the First Announcement, the Company is required to submit the Regularisation Plan to the relevant authorities by 5 May 2016 which is approximately one (1) month from the date hereof.
This announcement is dated 1 April 2016.