mahathir and Eric corrupt Perwaja 150 million... this two baruah hv to pay back the money....Mahathir anak haram India hv to settle the debt...this baruah PM Mahathir always say he is mamak Islam....actually he is from India...pure India...pariah Hindu tak mengaku he is India after corrupt the Perwaja money...celeka PM yg tsk guna...baruah anak india Mahathir
Mahathir is a big corruption ghost, Malaysia today hv debt 700milion is bcos of Paria Mamak Mahathir, he should go to hell , Epf money hv corrupted morethan 200 million
We refer to the announcements made on 26 November 2014, 9 January 2015 and 23 March 2015. On behalf of the Board of Directors of the Company, M&A Securities Sdn Bhd wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had on 13 April 2015 approved the application for an extension of time up to 31 July 2015 to submit the Company’s regularisation plan to the regulatory authorities subject to the Requisite Announcement being made by 15 May 2015.
Bursa Malaysia Securities Berhad (“Bursa Securities”) had on 13 April 2015 approved the application for an extension of time up to 31 July 2015 to submit the Company’s regularisation plan to the regulatory authorities subject to the Requisite Announcement being made by 15 May 2015.
The aforesaid extension of time is without prejudice to Bursa Securities’ rights to proceed to suspend the trading of the listed securities of Perwaja and to de-list the Company if:
(i) the Company fails to make the Requisite Announcement on or before 15 May 2015;
(ii) the Company fails to submit a regularisation plan to the authorities on or before 31 July 2015;
(iii) the Company fails to obtain the approval from any of the regulatory authorities necessary for implementation of its regularisation plan; and
(iv) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.
Upon occurrence of any events set out in (i) to (iv) above, Bursa Securities shall suspend the trading of the listed securities of Perwaja on the next market day after five (5) market days from the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
Has this got to do with Perwaja's MoA with China’s Zhiyuan Investment as reported in the Star on 12 February 2015?
In a filing with Bursa Malaysia, Perwaja said that Zhiyuan had agreed to conduct a study of the investment proposal and explore the feasibility of an investment in Perwaja. Both the studies will be conducted and completed within two months from the date of the MoA.
Zhiyuan, a Chinese investment company with one of its core businesses in alloy manufacturing, is looking to expand its business into Malaysia. Perwaja told Bursa that it had entered into the MoA because it was an affected listed issuer under the Practice Note 17 (PN17).
Any one can sign MOU with any buyer to do investment feasibility study or even sign a formal sale & purchase agreement but with some pre-conditions (exit or escape clauses) included which automatically allow agreement to be terminated if conditions not fulfilled within a specified period. Advice is there must a real injection of hard $$$ and consent of takeover by their banks or creditors. Dateline for this is 15 July. Speculate and take high risk at your own choice even if there is even an announcement before 15th May. It is a zero fundamental counter and risk is very very high. Perhaps do a hit and run. Happened many times before.
Since November 2013, Perwaja has been a Practice Note 17 The year ended June 2014, net losses amounted to RM1.2 billion. Perwaja had cash and bank balances of RM7. 5 million overdrafts and short-term borrowings totalled RM1.1 billion and long-term debt commitments came to RM276.4 million. Perwaja’s unsecured lenders include Petronas, which until end-2014, was owed more than RM275 million, while Tenaga was owed more than RM175 million in electricity bills
(a) A Second Memorandum of Agreement between Perwaja and Zhiyuan to formalise the parties’ agreement to revamp and restart the Kemaman Plant pending the procurement of all requisite approvals to implement Perwaja’s Proposed Regularisation Scheme; and
(b) A Lease Agreement between Perwaja Steel Sdn Bhd (“PSSB”), a wholly-owned subsidiary of Perwaja and Zhiyuan in relation to the lease by PSSB of a portion of the land forming the Kemaman Plant to Zhiyuan.
Capital injection? Debt settlement?
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Posted by visdonotbuy > 2015-03-15 14:00 | Report Abuse
mahathir and Eric corrupt Perwaja 150 million...
this two baruah hv to pay back the money....Mahathir anak haram India hv to settle the debt...this baruah PM Mahathir always say he is mamak Islam....actually he is from India...pure India...pariah Hindu tak mengaku he is India after corrupt the Perwaja money...celeka PM yg tsk guna...baruah anak india Mahathir