Michael Kwok Mabel the Big meow,meow do u see i ask u to sell dnex.its really dive.its really big downward till 17/11/22 i see the news.dnex down big time. 18/11/2022 5:53 PM
Meow Michael. Fortunately, Mabel is not like Blondi still hanging like Monkeys at Hibi when people oledi locked profit at RM 1.30..
Yes lah..Now it's an opportunity to collect at a bargain price...
DNEX's logic is unfathomable. Deception knowing full well MITI or Malaysian govt wont cede control of Silterra. Just what were the fools in DNEX thinking by doing one over the Chinese partner.
Hu hu hu... mati la. The more you wait, the more pain you will suffer.
Underlying technicals hv been damaged big time.
The path is set for journey to the bottom:
0.72 => 0.57 => 0.67 => 0.57 => 0.455 => (you are here) => 0.56 => 0.455 => 0.35 => 0.45 => 0.35 => 0.25 => range bound hybernation 0.20 - 0.30 until hit by worldwide recession => 0.10.
A path to SEPULUH SEN ultimate bottom has been cast yesterday when it broke multiple parallel strong 18 month old supports in one go to hit limit down.
DNeX owns the remaining 60% of SilTerra. In March 2021, Khazanah Nasional Bhd sold then loss-making SilTerra to DNeX and the China-based equity fund for RM273 million cash.
DNeX and CGP Fund have committed to a capital injection of at least RM200 million by way of subscribing for new shares to be issued by SilTerra. Based on DNeX’s 60% stake, the capital injection by DNeX will amount to about RM120 million.
Both parties sought to opt for the issuance of irredeemable convertible preference shares (ICPS) in DNeX Semi, amounting to RM100 million, to be issued to and subscribed by MIMAS. This would result in MIMAS holding a 33% stake in DNeX Semi.
The point of contention is whether prior approval is needed from the Ministry of International Trade and Industry (MITI) for the proposed investment.
MIMAS is of the view that such approval was not required and maintains that the shareholders agreement and subscription agreement, both dated Jan 21, 2022, are valid and enforceable.
However, DNeX disagrees.
“Vide MITI’s letter dated Feb 28, 2022, DNeX and CGP learned that prior approval from MITI was required in relation to the proposed investment,” said DNeX in the filing.
“DNeX and DNeX Semi consider such approval as necessary, more so in light of the terms and conditions of the shareholders’ agreement and subscription agreement which provide for MIMAS becoming a shareholder upon issuance of the ICPS and not their conversion. If so, this puts the [manufacturing] licence, and thus the operations of SilTerra, at risk.”
DNeX and DNeX Semi will seek the necessary relief to have the shareholders agreement and subscription agreement declared null and void.
Nonetheless, it said it does not expect any material financial impact from the commencement of the arbitration proceeding, other than legal cost to be incurred.
“SilTerra remains a 60%-owned subsidiary of DNeX Semi, which in turn is a subsidiary of the company. No material operational impact is expected [to] arise from the arbitration,” it added.
Actually we should thanks to this drama because dnex will be more volatile daily , more adventurer will speculate n goreng dnex share to earn fast money , if dnex one day can up down 20 - 30 sens i wont surprised !
Another scenario : You and 3 others using deadly weapons to rob a bank. Later, you hold a press conference and say, "...it's just a minor mis-understand"...??? Huh???
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....
SarifahSelinder
3,781 posts
Posted by SarifahSelinder > 2022-11-18 15:31 | Report Abuse
Pada hikmat Sarifah
Sykt China suka je bikin economic benefit shareholdings whereby profit dia ambil tapi not control of company (refer JAKS Vietnam IPP)
MITI x faham