so, if they forced liquidation with mell terminating the oil fields, they get nothing as opposed to the RP where they might still get 0.15 out of each RM1.....is that the "gambit" strategy taken to get out of this situation for now?
Sumatec's PN17 regularisation plan submission deadline extended to Oct 29 KUALA LUMPUR (Oct 1): Practice Note 17 (PN17) company Sumatec Resources Bhd said today Bursa Malaysia granted the oil and gas firm a time extension of six months up to Oct 29, 2019 to submit a regularisation plan to the authorities. In a bourse filing today, Sumatec said it had on Sept 4 received Bursa's letter on Sumatec's application for the time extension. "After due consideration of all facts and circumstances of the application, Bursa has decided to grant the company an extension of time of six months up to Oct 29, 2019 to submit a regularisation plan to the regulatory authorities," the group said. Sumatec had initially announced its PN17 status in April 2018. In a bourse filing on April 30, 2018, Sumatec said it became a PN17 company after its auditors expressed a disclaimer opinion in the company's audited financial statements for financial year ended Dec 31, 2017.
Bursa Securities shall suspend the trading of the listed securities of SUMATEC on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company's right to appeal against the delisting.
This announcement serves as the monthly announcement required under Paragraph 4.1(c) of PN17 of the Main LR.
26 Oct 2016 DEFAULT IN PAYMENT 30 Nov 2016 30 Dec 2016 26 Jan 2017 28 Feb 2017 17 Mar 2017
26 May 2016- HIGH COURT OF MALAYA KUALA LUMPUR SUIT NO. WA-28NCC-427-05-2016 NFC LABUAN SHIPLEASING I LTD VS PLANTIFF SUMATEC RESOURCES BERHAD DEFENDANTS
8 Apr 2017 HALIM BIN SAAD Disposed 14,200,000 18 Apr 2017 HALIM BIN SAAD Disposed 9,570,000 13 Apr 2017 HALIM BIN SAAD Disposed 6,076,200 12 Apr 2017 HALIM BIN SAAD Disposed 3,000,000 11 Apr 2017 HALIM BIN SAAD Disposed 25,500,000 7 Apr 2017 HALIM BIN SAAD Disposed 10,000,000 7 Apr 2017 HALIM BIN SAAD Disposed 22,500,000 9 Jan 2017 HALIM BIN SAAD Disposed 6,000,000 9 Jan 2017 HALIM BIN SAAD Disposed 8,000,000 6 Dec 2016 HALIM BIN SAAD Disposed 19,000,000 2 Dec 2016 HALIM BIN SAAD Disposed 77,731,000
28 Apr 2017-HIGH COURT MALAYA KUALA LUMPUR SUIT NO. WA-22NCC-52-02/2017 MALAYSIAN TRUSTEES BERHAD, KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (COLLECTIVELY REFERRED AS THE PLAINTIFFS) VS SUMATEC RESOURCES BERHAD (DEFENDANT)
24 Jan 2018-EBONY RITZ SDN BHD ("The PLAINTIFF") VS SUMATEC RESOURCES BERHAD (THE DEFENDANT")
30 Jan 2018- IN THE HIGH COURT OF MALAYA IN KUALA LUMPUR (BAHAGIAN DAGANG) SUIT NO. WA-22NCC-382-08/2017 MALAYSIAN BANKING BERHAD (PLAINTIFF) VS SUMATEC RESOURCES BERHAD (DEFENDANT)
29 Jan 2018 HALIM BIN SAAD Disposed 127,000,000
30 Jan 2018- IN THE HIGH COURT OF MALAYA IN KUALA LUMPUR (BAHAGIAN DAGANG) SUIT NO. WA-22NCC-382-08/2017 MALAYSIAN BANKING BERHAD (PLAINTIFF) VS SUMATEC RESOURCES BERHAD (DEFENDANT)
26 Feb 2018-SINGAPORE HIGH COURT SUIT NO. 808 OF 2017 HOE LEONG CORPORATION LTD VS SUMATEC RESOURCES BERHAD AND CHAN YOK PENG
30 Apr 2018-DISCLAIMER OF OPINION IN EXTERNAL AUDITORS' REPORT ON AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
02 May 2018 SUMATEC RESOURCES BERHAD - NEW ADMISSION INTO PN17
12 Jun 2018- Continental Industrial Supplies and Services Ltd LLP (the Claimant) vs. Sumatec Resources Berhad ( Respondent) LCIA Arbitration No. UN163528
6 Aug 2018 HALIM BIN SAAD Disposed 66,000,000
Sep 2018- BURSA MALAYSIA SECURITIES PUBLICLY REPRIMANDS SUMATEC RESOURCES BERHAD FOR BREACH OF THE MAIN MARKET LISTING REQUIREMENTS
29 Oct 2018 - In the Session Court at Kuala Lumpur Kerajaan Malaysia (Plaintiff) VS Sumatec Resources Berhad Writ No. WA-B51NCvC-71-10/2018
24 Jan 2019 HALIM BIN SAAD Disposed 197,298,800 23 Jan 2019 HALIM BIN SAAD Disposed 62,748,000 21 Dec 2018 HALIM BIN SAAD Disposed 54,390,000 12 Dec 2018 HALIM BIN SAAD Disposed 25,000,000
30 Apr 2019- ADVERSE OPINION IN EXTERNAL AUDITORS' REPORT ON AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
30 Sep 2019- Acceptance of notice on suspension of gas processing activities under GDPA from Markmore Energy Labuan Limited
01 Oct 2019 - Managing Director ABU TALIB BIN ABDUL RAHMAN Resign Working experience and occupation 1979 - 1980 : Served as legal officer of Bank Pertanian Malaysia 1980 - 1981 : Manager of Asia vest-Merchant Bankers Berhad 1981 - 1986 : Accountant in Bank Bumiputera Malaysia Berhad 1986 - 1991 : Served as partner of two legal firms 1991 - present : Managing and founding partners of Abu Talib Shahrom (a legal firm) Any conflict of interests He is the vendor and has 51% control in Borneo Energy Oil and Gas Limited. He is also the partner to Abu Talib Shahrom, the advocates and solicitors to Sumatec Resources Berhad. He is the sole director of Markmore Central Asia BV (Netherlands) that owns CaspiOilGas LLP in Kazakhstan.
Sumatec's PN17 regularisation plan submission deadline extended to Oct 29 KUALA LUMPUR (Oct 1): Practice Note 17 (PN17) company Sumatec Resources Bhd said today Bursa Malaysia granted the oil and gas firm a time extension of six months up to Oct 29, 2019 to submit a regularisation plan to the authorities. In a bourse filing today, Sumatec said it had on Sept 4 received Bursa's letter on Sumatec's application for the time extension. "After due consideration of all facts and circumstances of the application, Bursa has decided to grant the company an extension of time of six months up to Oct 29, 2019 to submit a regularisation plan to the regulatory authorities," the group said. Sumatec had initially announced its PN17 status in April 2018. In a bourse filing on April 30, 2018, Sumatec said it became a PN17 company after its auditors expressed a disclaimer opinion in the company's audited financial statements for financial year ended Dec 31, 2017.
7 October 2019. The Board of Directors of Sumatec wishes to announce that Sumatec Oil And Gas LLP (“SOG”), a wholly-owned subsidiary of Sumatec, had on 7 October 2019 received a notice from CaspiOilGas LLP (“COG”) terminating the JIA and Novation Agreement effective 17 October 2019 (“Termination Notice”).
The aforesaid extension of time is without prejudice to Bursa Securities right to proceed to suspend the trading of the listed securities of SUMATEC and to de-list the Company in the event:
the Company fails to submit a regularisation plan to the regulatory authorities on or before 29 October 2019; the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities. Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of SUMATEC on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 380 views | 2 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11754 views | 10 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
PunTatBerSiul
1,001 posts
Posted by PunTatBerSiul > 2019-10-10 10:41 |
Post removed.Why?