On 17 October 2014, High-5 Conglomerate Berhad (formerly known as SilverBird Group Berhad) (“High-5”), as the 2nd Plaintiff together with Standard Confectionary Sdn Bhd (“1st Plaintiff”) filed a Writ of Summons and Statement of Claim on 17 October 2014 where Trustee is the 2nd Defendant in the said suit. In its Statement of Claim, both Plaintiffs pray for the following orders: (a) A declaration that the title of Trustee to SilverBird Factory and the Statutory Lease in favour of High-5 are defeasible by virtue of the National Land Code 1965; (b) An order that the all the transfers and leaseback arrangements between the parties be all declared null and void and be set aside; (c) A declaration that the sale and leaseback arrangement between the 1st Plaintiff, High-5 and 1st Defendant, respectively, is fraudulent and illegal and against public policy; (d) A consequential order that the Register of Land Titles be directed to cancel all the transfers and the Statutory Lease; (e) General, aggravated and punitive damages against Dato’ Tan Han Kook and Dato’ Ahmad Rodzi Pawanteh; (f) Such further and other orders as the Court deems fit. On 28 November 2014, the Trustee filed a Defence and Counterclaim. In its Defence, the Trustee seek for an order that the action taken by the Plaintiffs to be dismissed on a solicitor-client basis or costs without prejudice to the Trustee’s rights to file an application to strike out the Writ of Summons and Statement of Claim. In its Counterclaim, the Trustee has sought for the following orders: (a) Payment of the outstanding rental of RM608,000 per month and double rental from 16 August 2013 until delivery of vacant possession of SilverBird Factory to the Trustee; (b) Interest at the rate of 5% p.a. from the date the lease rental and/or the double rental becomes due and payable until the date of full and final settlement; (c) A declaration that High-5 and/or any persons claiming to have derived their rights from High-5 who are in occupation of Silver Bird Factory without the Trustee’s consent are in wrongful occupation of SilverBird Factory; (d) An order to deliver vacant possession of SilverBird Factory to the Trustee within seven (7) days from the date of the service of the Order; (e) An order to remove their belongings from SilverBird Factory within seven (7) days from the date of the service of the Order; (f) An order that the Trustee be allowed to place security guards at SilverBird Factory immediately upon the Order; (g) In the event of a failure to obey the Order herein, an order that the Trustee be given leave to re-enter SilverBird Factory without prejudice to the Trustee’s right to apply for writ of possession; (h) Costs on a solicitor-client basis or costs; (i) General damages to be assessed; and (j) Such further and other relief (s) as the Court deems fit and just. The Court Hearing for the above suit was fixed on 29 June 2015. On the same day, the High Court of Kuala Lumpur has delivered its judgment and has granted Orders in favor of Amanahraya REIT. However on 3 July 2015, High-5 has appealed to the above judgment and consequently, hearing date for Court of Appeal was set on 30 November 2015. As the Manager has predicted, the judgment passed by the Court of Appeal was also in favor of AmanahRaya REIT. However, High-5 has again appealed the said decision for the matter to be further considered at the Federal Court. The hearing date has been fixed on 30 May 2016
HI Arreit team : can I ask you guys one question ? why I check on arreit reports the net profit and Par value show 0 one . what was that mean ? mean no Par value and net profit . example latest reports as below :
hi tauruslau good evening, can you tell me about my concern : I find out arreit(AMANAHRAYA REITS), very different from normal reit counters : ,Arreit Par Value is 0 and Net profit also 0,only got Revenue and profit before tax got figures and dividend quite high . I just don't understand why net profit and par value is 0 for arreit ?
On behalf of the Board of Directors (“Board”) of ARRM, the management company of AmanahRaya REIT, MIDF Amanah Investment Bank Berhad (“MIDF Investment”) wishes to announce that the existing shareholder of ARRM, namely ARB had on 19 December 2016 entered into the following agreements with KDA Capital: (a) Share Sale Agreement between ARB and KDA Capital in respect of the proposed disposal by ARB of 735,000 ordinary shares of RM1.00 each in ARRM equivalent to 49% shareholdings in ARRM to KDA Capital for a cash consideration of RM5,145,000 only (“SSA”); and (b) Shareholders Agreement between ARB and KDA Capital to regulate the relationship between ARB and KDA Capital as shareholders of ARRM (“Shareholders Agreement”); and (c) REIT Unit Sale Agreement between ARB and KDA Capital in respect of the proposed purchase of 85,982,979 REIT units representing 15% of AmanahRaya REIT’s units from ARB by KDA Capital at RM1.00 per REIT unit equivalent to RM85,982,979 by way of Direct Business Transaction subject to the approval of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“REIT Unit Sale Agreement”)
On behalf of the Board of ARRM, MIDF Investment wishes to announce that the SC vide its letter dated 28 February 2017 had approved the proposal to dispose of 735,000 ordinary shares of RM1.00 each, representing a 49% stake in ARRM, by ARB to KDA Capital, a wholly-owned subsidiary of Kenedix Asia.
The approval of the SC is subject to the following conditions:
(a) as a licensed person, ARRM is reminded of its responsibilities to ensure compliance with the securities laws, regulations and guidelines at all times; and
(b) the SC be notified upon the completion of the Proposed Change in the Shareholding Structure.
i said jcy is a better counter, just made 6% in one month ..sold 400 lots of arreit last month and bought jcy at 0.60, sold yesterday at 0.63 with addition of 1.25 sen dividend. not bad..now it dip after dividend, i am buying back at .60 again.
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....