I never understood the trump name for the tower. Now is a chance to clear that baboons name and choose a nicer name in the future. Should be able to relaunch later, maybe 2022 when the virus is already weak. Bankruptcy filing does not mean bankrupt. Hopefully some good lessons are learned. No one is perfect.
Based on June 2020's balance sheet and cash flow, TA might have cash flow issues in the coming months, if the pandemic continues. It has 2.4 billion RM current liabilities, but only 0.96 billion free cash+AR. I am unsure whether investments in securities are liquid, or if forced sale will bring about more losses in investments. The cash outflow for Jun 2020 have seen 570 million, which is 5 times the revenue of TA securities. I would be very cautious at this stage.
The upcoming EGM in November is very critical. If the resolutions pertaining to the proposed VGO is not passed, the share price of both TA and TAGB will fall sharply as Covid 19 will continue to have a negative impact.
So minority shareholders of TA must either : 1) Attend and vote for the resolutions OR 2) Appoint a proxy to vote for the resolutions on their behalf.
Otherwise, it may be advisable to sell the shares before the EGM, just in case the resolutions are not passed.
The appointment of proxy may be made in hard copy or in electronic form. The Form of Proxy must be submitted in the following manners, at least forty-eight (48) hours before the time for holding the meeting or any adjournment thereof:- (i) In hard copy form To be deposited at the Company’s Share Registrar’s office at Tricor Investor & Issuing House Services Sdn Bhd at Unit 32-01, Level 32, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur or alternatively Tricor Customer Service Centre, Unit G-3, Ground Floor, Vertical Podium, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur; or (ii) By electronic means The proxy form can also be electronically lodged with the Share Registrar of the Company via TIIH Online at https://tiih.online (applicable to individual shareholders only). Please refer to the Administrative Guide on the procedures for electronic lodgement of proxy form via TIIH Online
(Singapore, 19th) Singapore’s Prime Minister Lee Hsien Loong believes that tourism will not return to near normal conditions until 2022.
He said that Chinese people should not expect cross-border tourism to return to normal next year. Even if the coronavirus vaccine is available as early as early next year, it is estimated that it will have to wait until 2022 to complete the vaccination of the majority of the population and significantly slow the spread of the virus.
Lianhe Zaobao reported that Lee Hsien Loong was in the pre-recorded interview for the Asia-Pacific Economic Cooperation Forum (APEC) President’s Summit Dialogue
Clarified that even if the public health crisis of COVID-19 is overcome, tourism and global cross-border economic activities will not return to normal for a long time, and it may take about two years to get close to normal.
He said: "We must be prepared for this situation to continue for a while."
The pre-recorded interview aired this morning.
In answering a question from He Mingjie, Executive President of the Singapore Business Federation (SBF), Lee Hsien Loong also pointed out that the northern hemisphere countries are welcoming winter, and the number of confirmed cases of coronary disease is still on the rise. Even if the vaccine is successfully developed and vaccinated, the world believes that it will be 2022. Only years can effectively control coronary disease.
However, many countries in the Asian region are currently trying to control the coronavirus, and Lee Hsien Loong also expressed confidence in the recovery of the regional economy.
He pointed out that everyone is cautiously restarting tourism and economic activities and does not want to see the second wave of the epidemic.
"From the perspective of economic data, next year will be better than this year. As long as we can ensure that the country is no longer locked in and the vaccine can be widely administered, the situation will gradually normalize.
This year's APEC summit was hosted by Malaysia, but in view of the coronavirus epidemic, a series of meetings were conducted by video.
TAGB shareholders will likely opt for cash than TAE shares and trigger MGO for TAE. Otherwise shares will drop as this is Covid times so hospitality industry is badly affected.
i also tired of how the substantial s/h's way and mean to suppress the share price for his own benefits. Let him have the company la... the co. did not create any shareholder value at all...
i jz wonder if TTK will want to takeover the co. at 665cents given that he can buy the share cheaper in the open market now. If TAGB shareholder not to take cash option will he still stake out MGO?
I think u reg. to Tricor, but not for the TA EGN :-)
Quite sure, bcos when I saw below, i clicked, has different content, . . 6 (REGISTRATION) HOMERITZ EGM. , 27 Nov 2020 , 12:00 PM HOMERITZ CORPORATION BERHAD 27 Nov 2020 11:00:00 PM
7 TA 2020 EGM - SUBMISSION OF PROXY FORM , 30 Nov 2020 , 11:00 AM TA ENTERPRISE BERHAD 28 Nov 2020 11:00:00 AM . .
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Posted by singh1 > 2020-09-02 03:51 | Report Abuse
I never understood the trump name for the tower. Now is a chance to clear that baboons name and choose a nicer name in the future. Should be able to relaunch later, maybe 2022 when the virus is already weak. Bankruptcy filing does not mean bankrupt. Hopefully some good lessons are learned. No one is perfect.