from my working experience in this industry,to recover from the loss position almost take 2-3 years,although this counter is consider good for current situation (exchange of us currency),but their are still many factor affect the movement of the price.2.any one know the restructuring progress,pls share.
PROPOSED CASH ADVANCE OF APPROXIMATELY RM44.8 MILLION FROM CHEANG POY KEN AND KEEN SETUP SDN BHD TO IRCB (“PROPOSED ADVANCE”) On behalf of the Board of Directors of IRCB (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) is pleased to announce that the Company had entered into agreements with Mr. Cheang Poy Ken (“Mr Cheang”) and Keen Setup Sdn Bhd (“KSSB”) (collectively referred herein as the “Investors”) both dated 27 August 2013, to advance cash of RM22,400,000 each; totalling to RM44,800,000 to the Company.
For further details on the Proposed Advance, kindly refer to the attachment.
Fuyoh! IRCB boss very confident of the bright future of IRCB. IRCB sure going to match topglove in two years time....buy and keep. Hope can breach 0.33sen tomorrow and then conquer 0.40sen resistant next week. After that? let the market decide....
INTEGRATED RUBBER CORPORATION BERHAD (“IRCB” or “COMPANY”)
(I) PROPOSED CASH ADVANCE OF APPROXIMATELY RM44.8 MILLION FROM CHEANG POY KEN AND KEEN SETUP SDN BHD TO IRCB (“PROPOSED ADVANCE”)
(II) A DEBT SETTLEMENT BETWEEN IRCB AND ITS WHOLLY OWNED SUBSIDIARY, COMFORT RUBBER GLOVES INDUSTRIES SDN BHD (“CRGI”) WITH MALAYAN BANKING BERHAD, MAYBANK ISLAMIC BERHAD, AMBANK (M) BERHAD AND CIMB BANK BERHAD OF APPROXIMATELY RM44.9 MILLION On behalf of the Board of Directors of IRCB (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) is pleased to announce that IRCB and CRGI, had on 3 September 2013, entered into a debt settlement agreement (“Debt Settlement Agreement”) with:- (i) Malayan Banking Berhad (“MBB”); (ii) Maybank Islamic Berhad (“MIB”); (iii) Ambank (M) Berhad (“Ambank”); and (iv) CIMB Bank Berhad (“CIMB”)
(collectively referred herein as the “Lenders”)
for the full and final settlement of all amounts of borrowing or indebtedness or liability (including without limitation principal, interest, costs, charges or expenses or other liabilities) up till the settlement date owed by IRCB and CRGI to the Lenders (“Debt Settlement”). For further details in relation to the Proposed Advance and the Debt Settlement, kindly refer to the attachment.
Buy to keep. Soon will be on par with topglove or Kossan Rubber....in three years?
yea, heavy volume today. If tomorrow volume is as big as today, then no worry. If volume turun mendadak, sell and buy back t+3. Am slowly releasing my holdings
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Posted by 0bucks > 2013-08-28 09:24 | Report Abuse
sapurakencana, what do you mean 0.23 ?