I somewhat agree with Mosion Wong, in fact this is not the first time a contract related to PPR is terminated. There was one in Sabah in Oct 2015. It might be good the burden is drop off the ship so that the ship can sail further.
Project cancelled good news? Good, buy more then on monday. If they got other projects to fill in the gap then only good la. Otherwise the company so free no need pay salary?
At the time of the award, Trive Property said the contract was expected to commence upon obtaining site possession, which was anticipated in May 2014, with a construction period of 36 months.
3 years counting from may 2014, has already passed. From the tone of the announcement, the other party failed to obtain the site for construction by trive. Possibly trive initiated the termination so it can free up its resources to other areas
2016, ESOS shares issued on 31 Mar 2016, shares conversion from warrants dated 30 December 2016 and the full settlement of bank borrowings, the financial position of the Group is expected to significantly improve and the management will be able to fully concentrate on strengthening and growing the business. Barring any unforeseen circumstances, with the diversification into the construction and property development industry (with the land acquired in Kerteh, Terengganu) and the collaboration with (1) Hubei Guang Bo New Energy Co. Ltd. and (2) Fortunate Solar Technology Ltd., the Group is confident of achieving better performance. The successful of the Group heavily rely on the capabilities of the management team to secure projects in Solar Division and the development of its property segment, bearing others unforeseen circumstances such as global/local macroeconomic, government policies and interest rate.
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....
Mosiong Wong
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Posted by Mosiong Wong > 2017-11-10 17:49 | Report Abuse
Termination of contract??