Once a man appeared in a village and announced that he wanted to monkeys for $100 each. The villagers, realizing that there was no dearth of monkeys in the nearby forest, went out and started catching them. The man bought thousands of monkeys at $100. As supply started to fall down, the villagers stopped catching more monkeys.
Now the man further announced that he would now buy monkeys at $200 each. This renewed the efforts of the villagers and they started catching monkeys again. As the supply diminished even further, people once again stopped catching monkeys and started going back to their farms.
The man further increased the rate to $250. Soon the supply of monkeys became so little that it was quite an effort to even get a glimpse of a monkey, let alone catch it!
The man now announced that he would buy monkeys at $500. However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant said to the villagers: “Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $350 each and when the man returns from the city, you can sell them to him for $500.”
The villagers squeezed up with all their savings and bought all the monkeys. But they never ever saw the man or his assistant again in the village; only monkeys everywhere!
polycarp Once upon a time there was a peasant called Ah Bee who overheard ppl talking about a cheap and unwanted property which faces a cemetery and has its back next to the sea. Ah Bee took a chance and bot it. Today it has the most popular hotel and supermarket built on it.
roblem with this company, 2 cooks still inside, Halim S and Abu Tallib.
This is what i I heard la..
- Halim wanted to sell his MELL for $1.5 B , while Talib wants to sell his Borneo En for $1.2 B as well to Sumatec shareholders !!.. sudahla hutang tak mahu bayar from MELL $178m, Borneo Eng ambil deposit $96m, to cover up that money, sell MELL and Borneo Energy to Sumatec..brilliant idea !.hehe
- on top of that CoG (Halim company) already take sUMATEC money more than $400m !!.. , talib pula take 98m for borneo
so, in total, Halim and Abu Talib already used money from Sumatec for the tune of $600m ..phew.
If you take out Halim and Abu Talib from Sumatec.. this company immediately in great shape, debt only $35m...its only a fraction from total debt to Directors companies. Sumatec will not go after MELL and Cog and Borneo , coz its like killing themselves la.
"I have been pumping my money into Sumatec and will continue to do so for as much as I can afford. I believe in the good prospects of this company," said Halim, who currently owns 13 per cent of Sumatec.
- No hostile takeover in sight coz white knight will have difficulties to deal with this 2 cooks, Halim and Abu Talib companies. some more MELL and Borneo got no money to pay the debt to Sumatec.
- Its already written on the wall, high probability Halim and Abu Taib will purposely de-list Sumatec from Bursa as soon as possible, thats the only way to avoid paying debt to sumatec and reporting to shareholders.
- that also to avoid getting wind-up notice from lender openly. This one Halim and Abu Talib will avoid at any cost. Can be seen from their action lately, purposely not collaborate with all auditors, hiding revenue (2 QR !!), hid everything from bursa.
- so..by now, Halem already sold mayb all his shares in sumatec, Abu Talb has none, coz olreday got $98M..huhu.
aiyo....like not explaining anything at all..haha....so, Ron90....any conclusion we will know lah in April. definitely have to expect the worst....unless these guys are so kind to shareholders.....
WINDING UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD ("THE COMPANY" OR "SUMATEC") BY MALAYSIAN TRUSTEES BERHAD, KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD Reference is made to the Company's announcements dated 9 January 2017, 13 January 2017, 3 March 2017, 6 March 2017, 17 March 2017, 28 April 2017, 2 October 2017, 3 October 2017, 17 October 2017, 10 November 2017, 22 November 2017, 4 December 2017, 21 December 2017, 22 December 2017, 5 January 2018, 19 January 2018, 29 January 2018, 30 January 2018, 28 February 2018, 17 April 2018, 17 May 2018, 8 June 2018, 30 August 2018, 26 November 2018, 14 December 2018 28 January 2019 and 22 February 2019 in respect of the aforesaid matter.
The Company wishes to announce that it had on 8.3.2019 informed the Court that it will apply to discharge the appointment of the Official Receiver as the Interim Liquidator. This application is on the footing, amongst others, that the underlying judgment upon which the appointment was made has been stayed by the Court of Appeal on 21.2.2019.
sumatec hutang kiri-kanan to his own directors companies....nothing to do with someone else !! as long Halim and Talib still there..nothing much can be done
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Posted by DreamPredator > 2019-03-08 05:29 | Report Abuse
Sutah start turning around gah