OTHERS WINDING UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD ("THE COMPANY" OR "SUMATEC") BY MALAYSIAN TRUSTEES BERHAD (MTB), KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (The BONDHOLDERS) SUMATEC RESOURCES BERHAD
Type Announcement Subject OTHERS Description WINDING UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD ("THE COMPANY" OR "SUMATEC") BY MALAYSIAN TRUSTEES BERHAD (MTB), KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (The BONDHOLDERS) 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, 22 February 2019, 11 March 2019, 1 August 2019 and 24 September 2019 in respect of the aforesaid matter.
The Company wishes to announce that based on 5 October 2019 case management on:- (a) the decision on Encl. 55, Sumatec’s application to discharge the Provisional Liquidator; (b) the decision on Encl. 76, Sumatec’s application for a stay of proceedings pending disposal of Sumatec’s appeal to the Court of Appeal against the decision in striking out the Fraud Claim against MTB; (c) the hearing of Encl. 1, the winding up petition; and (d) the case management of the Encl. 42, Reachmont’s application to appoint a private liquidator.
The Court fixed the Encl. 55 and Encl. 1 for decision and Encl. 42 for case managment on 15.10.2019 at 3 p.m.
The Court dismissed the application for a stay of proceedings (Encl. 76) with costs of RM3,000 to be paid to MTB and RM2,500 to be paid to CISS. However, the Company may consider to file a fresh application for a stay if the ground to dismiss Encl. 76 is because no affidavit of service was filed.
i) Acceptance of notice of suspension of gas processing activities under GDPA from Markmore Energy Labuan Limited (MELL)(Suspension)ii) Notice of termination of the joint investment agreement dated 8 March 2012 for the development of Rakushechnoye Oil and Gas Field (JIA) (Termination) SUMATEC RESOURCES BERHAD
Type Reply to Query Reply to Bursa Malaysia's Query Letter - Reference ID IQL-10102019-00001 Subject i) Acceptance of notice of suspension of gas processing activities under GDPA from Markmore Energy Labuan Limited (MELL)(Suspension)ii) Notice of termination of the joint investment agreement dated 8 March 2012 for the development of Rakushechnoye Oil and Gas Field (JIA) (Termination) Description i) Acceptance of notice of suspension of gas processing activities under GDPA from Markmore Energy Labuan Limited (MELL)(Suspension)
ii) Notice of termination of the joint investment agreement dated 8 March 2012 for the development of Rakushechnoye Oil and Gas Field (JIA) (Termination) Query Letter Contents We refer to your Company’s announcements dated 30 September 2019 and 7 October 2019 in respect of the aforesaid matters. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1. The financial and operational impact of the Suspension and Termination on Sumatec group. 2. The expected losses arising from the Suspension and Termination. 3. The steps taken or proposed to be taken by Sumatec in respect of the Suspension. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully Listing Regulation Cc : Market Surveillance Dept., Securities Commission (via fax) We refer to your queries dated 10 October 2019 concerning the above matter. 1.The financial and operational impact of the Suspension and Termination on Sumatec group. Financial Impact are estimated to be as follows:- a) Termination of JIA will directly cause the expiration of substantial investment and forfeiture of deposit of Sumatec on the Rakushechnoye oil and gas field as follows: The value of working interest at RM272.326 million, Exploration and Development cost at RM201.263 million and Performance Deposit at RM127.1 million Total : RM600.69 million
b) The total loss which includes remedied estimates arising from COG’s complaints are estimated to be RM161million. Operational Impact:
i) Forfeiture of the development and extraction right of hydrocarbons in the Rakushechnoye oil and gas field.
ii) It can lead to termination of the services and consultancy activities on gas development and production planning and implementation.
2. The expected losses arising from the Suspension and Termination. Reply: A conservative estimate of RM761.69 million losses We remain in contact with COG and MELL to seek their indulgence to give us more time and we believe our appeal to lift the suspension and termination notices can be given a positive results if we manage to resolve our current issues mainly caused by the legacy shipping debts, which should not have existed anymore since the last regularisation exercise of May 2013.
3. The steps taken or proposed to be taken by Sumatec in respect of the Suspension. While seeking the indulgence of MELL/COG we also discussed various ways to carry on to work together. MELL/COG has been understanding and we have resolved to come out with the following plan:-
a) A fund raising exercise involving a rights issue to raise up to RM100 million; (Announced on 7 Oct 2019)
b) A settlement arrangement with the creditors of Sumatec group involving a settlement amount of RM0.15 in respect of every RM1.00 owed to the creditors. (Announced on 7 Oct 2019)
c) Proposal by the Company to participate in the Condensate Extraction Plant belonging to MELL. This is the positive part of the relationship and we are striving hard to remove the legal problem. (Announced on 30 Mar 2018)
OTHERS WINDING UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD ("THE COMPANY" OR "SUMATEC") BY MALAYSIAN TRUSTEES BERHAD (MTB), KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (The BONDHOLDERS) SUMATEC RESOURCES BERHAD
Type Announcement Subject OTHERS Description WINDING UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD ("THE COMPANY" OR "SUMATEC") BY MALAYSIAN TRUSTEES BERHAD (MTB), KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (The BONDHOLDERS) 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, 22 February 2019, 11 March 2019, 1 August 2019, 24 September 2019 and 7 October 2019 in respect of the aforesaid matter.
Pursuant to the hearing fixed on 15 October 2019 before Yang Arif Dato’ Abu Bakar bin Jais, the Company wishes to announce as follows:- (a) Sumatec has filed a fresh application for a stay of proceedings pending disposal of Notice of Motion for Stay at the Court of Appeal (Enclosure 114). However the said application is dismissed with no order as to costs; (b) The Court has granted a Winding Up Order against Sumatec in respect to Winding Up Petition (Enclosure 1) with costs of RM5,000.00 to be paid to the Petitioners and costs of RM2,500.00 to be paid to Continental Industrial Supplies and Services Ltd LLP (CISS) as a supporting creditor. (c) Prior (b) of the Winding Up Petition which deals with the appointment of a private liquidator is fixed for case management together with Reach mont Logistic Sdn Bhd’s application to appoint their choice of liquidator on 6.11.2019. (d) Sumatec’s application to discharge the Provisional Liquidator (Enclosure 55) is struck out with no order as to costs.
As such, the Company has instructed its solicitors to appeal against the decision of the High Court in respect of the Winding Up Order to the Court of Appeal.
In regard to the Notice of Motion of Stay filed at the Court of Appeal in respect of the Judgment of the Court of Appeal dated 16.4.2018, the Company’s solicitors will make the necessary application for the sanction to the Official Receiver in order to proceed with the hearing of the Notice of Motion.
This announcement is dated 17 October 2019.
其他人反对由马来西亚受托人柏拉德(MTB),KERISMA柏拉德,CAPONE柏拉德和PRIMA UNO BERHAD(债权人)反对SUMATEC资源柏拉德(“公司”或“ SUMATEC”) SUMATEC RESOURCES BERHAD
根据2019年10月15日在Yang Arif Dato’ Abu Bakar bin Jais之前举行的听证会,公司将宣布以下内容: (a)Sumatec已提出新的中止诉讼程序的申请,以待在上诉法院处置中止动议通知之前(附件114)。但是,上述申请没有任何费用就被驳回; (b)法院已就Sumatec的清盘呈请(附件1)下达清盘令,分别向请愿人支付5,000.00令吉和向大陆工业用品与服务公司支付2,500.00令吉的费用。有限公司LLP(CISS)作为支持债权人。 (c)处理案件的清算申请书的(b)优先事项(b)已与案卷管理一起确定,并与Reach mont Logistic Sdn Bhd的申请书一起在6.11.2019任命他们选择清算人。 (d)Sumatec取消临时清盘人的申请(附件55)被取消,没有任何费用命令。
SUMATEC had on 17 October 2019 announced that the Court has granted a Winding Up Order against the Company in respect to Winding Up Petition.
Pursuant to Paragraph 16.02(1)(j) of the Main Market Listing Requirements, the trading in the securities of SUMATEC will be suspended with effect from 9.00 a.m., Thursday, 7 November 2019 until further notice.
APPLICATION FOR AN EXTENSION OF TIME TO COMPLY WITH PARAGRAPH 8.04(3) AND PRACTICE NOTE 17 (PN17) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("MMLR") SUMATEC RESOURCES BERHAD
Bursa Securities has received a letter dated 29 October 2019 from the company seeking for indulgence to apply for an extension of time for the company to submit its regularisation plan to the regulatory authorities after such time the Court of Appeal's decision on the Notice of Motion of Stay filed at the Court of Appeal.
Announcement Info Company Name SUMATEC RESOURCES BERHAD Stock Name SUMATEC Date Announced 31 Oct 2019
Winding-up petitions against Sumatec Resources Berhad (Sumatec) by Malaysian Trustees Berhad, Kerisma Berhad, Capone Berhad and Prima Uno Berhad (the Bondholders) SUMATEC RESOURCES BERHAD
Type Reply to Query Reply to Bursa Malaysia's Query Letter - Reference ID IQL-30102019-00001 Subject Winding-up petitions against Sumatec Resources Berhad (Sumatec) by Malaysian Trustees Berhad, Kerisma Berhad, Capone Berhad and Prima Uno Berhad (the Bondholders) Description BURSA QUERY DATED 31 OCTOBER 2019 "WINDING-UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD (SUMATEC) BY MALAYSIAN TRUSTEES BERHAD, KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (THE BONDHOLDERS) Query Letter Contents We refer to your Company’s announcement dated 17 October 2019 in respect of the aforesaid matters.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
The date on which the Official Receiver was appointed; The status of the Board of Directors of Sumatec after the winding-up order and the appointment of the Official Receiver; and Status of the application to proceed with the hearing of the Notice of Motion of Stay of the winding-up order. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully
Listing
Regulation
Cc : Market Surveillance Dept., Securities Commission (via fax)
We refer to Bursa Securities letter dated 31 October 2019, below is our reply to the questions raised;
Q1: The date on which the Official Receiver was appointed
Answer – The Official Receiver / Interim Liquidator was appointed on 15.10.2019.
Q2: The Status of the Board of Directors of Sumatec after the Winding-Up Order and the appointment of the Official Receiver
Answer – The Board of Directors have lost control of the Company and the Official Receiver has been appointed. However, as far as we have been informed the Official Receiver has not yet received the Winding-Up Order.
Q3: Status of the application to proceed with the hearing of the Notice of Motion of Stay of the winding-up order.
Answer – The Notice of Motion of Stay has been fixed for case management on 22.11.2019. The Company’s solicitors will make the necessary application for the sanction to the Official Receiver in order to proceed with the hearing of the Notice of Motion.
Senang ja pasal sumatec ni,bagi yg berani ambil risiko masuk saja dgn harga setengah sen banyak2.Bagi yg penakut bagus duduk diam2 ja dan tak payah nak komplen pasal orang lain yg berani ambil risiko.kita yg main saham ni bukannya tak biasa rugi sampai ratus ribu.Jadi dgn harga setengah sen takda masalah utk cuba nasib dgn beli 1000 lot.saya pun dah masuk harga setengah sen pada jumaat lepas.
Abang dragonslayer.... sumatec apa pun tak ada sudah kosong tak ada contract oil and gas sudah terminate bank account tak ada wang cuma ada hutang lapuk dan cuma ada kertas saham sumatec 0.005 saja count down 3 hari kertas wang 0.005 pun hilang apa pun tak ada....
Big volume selling...who is buying up ? Surely someone knows something that others don't know. HS will not want to let it sink as it will affect his reputation. He is still bidding for other big business.
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....
lam
1,641 posts
Posted by lam > 2019-11-02 13:06 | Report Abuse
OTHERS WINDING UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD ("THE COMPANY" OR "SUMATEC") BY MALAYSIAN TRUSTEES BERHAD (MTB), KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (The BONDHOLDERS)
SUMATEC RESOURCES BERHAD
Type Announcement
Subject OTHERS
Description WINDING UP PETITIONS AGAINST SUMATEC RESOURCES BERHAD ("THE COMPANY" OR "SUMATEC") BY MALAYSIAN TRUSTEES BERHAD (MTB), KERISMA BERHAD, CAPONE BERHAD AND PRIMA UNO BERHAD (The BONDHOLDERS)
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, 22 February 2019, 11 March 2019, 1 August 2019 and 24 September 2019 in respect of the aforesaid matter.
The Company wishes to announce that based on 5 October 2019 case management on:-
(a) the decision on Encl. 55, Sumatec’s application to discharge the Provisional Liquidator;
(b) the decision on Encl. 76, Sumatec’s application for a stay of proceedings pending disposal of Sumatec’s appeal to the Court of Appeal against the decision in striking out the Fraud Claim against MTB;
(c) the hearing of Encl. 1, the winding up petition; and
(d) the case management of the Encl. 42, Reachmont’s application to appoint a private liquidator.
The Court fixed the Encl. 55 and Encl. 1 for decision and Encl. 42 for case managment on 15.10.2019 at 3 p.m.
The Court dismissed the application for a stay of proceedings (Encl. 76) with costs of RM3,000 to be paid to MTB and RM2,500 to be paid to CISS. However, the Company may consider to file a fresh application for a stay if the ground to dismiss Encl. 76 is because no affidavit of service was filed.
This announcement is dated 7 October 2019.
其他人反对由MALAYSIAN TRUSTEES BERHAD(MTB),KERISMA柏拉德,CAPONE BERHAD和PRIMA UNO BERHAD(债权人)反对SUMATEC RESOURCES BERHAD(“公司”或“ SUMATEC”)
SUMATEC RESOURCES BERHAD
类型公告
主题其他
说明由MALAYSIAN TRUSTEES BERHAD(MTB),KERISMA BERHAD,CAPONE BERHAD和PRIMA UNO BERHAD(债券持有人)对SUMATEC RESOURCES BERHAD(“公司”或“ SUMATEC”)的清算请求
兹提述本公司日期为2017年1月9日,2017年1月13日,2017年3月3日,2017年3月17日,2017年3月17日,2017年4月28日,2017年10月2日,2017年10月3日,2017年10月17日,2017年11月10日,11月22日的公告2017年2017年12月4日,2017年12月21日,2017年12月22日,2018年1月5日,2018年1月19日,2018年1月29日,2018年1月30日,2018年2月28日,2018年4月17日,2018年5月17日,2018年6月8日,2018年8月30日,就上述事宜,于2018年11月26日,2018年12月14日,2019年1月28日,2019年2月22日,2019年3月11日,2019年8月1日及2019年9月24日。
本公司谨此宣布,基于2019年10月5日的案件管理:
(a)关于Encl的决定。 55,Sumatec申请解除临时清盘人的申请;
(b)关于Encl的决定。 76,Sumatec要求中止诉讼程序,直到处理Sumatec针对针对MTB的欺诈请求的决定向上诉法院提出的上诉为止;
(c)Encl的聆讯。 1,清盘呈请;和
(d)Encl的案件管理。 42,瑞奇蒙(Reachmont)申请任命私人清盘人。
法院确定了Encl。 55和Encl。 1用于决策和包含。 42件用于2019年10月15日下午3点的案件管理
法院驳回了中止诉讼的申请(第76条),其中有3,000令吉的费用支付给MTB,而2,500令吉的支付给CISS。但是,如果有解雇Encl的理由,公司可能会考虑提出新的中止申请。 76是因为未提交服务誓章。
本公告日期为2019年10月7日。