PERWAJA HOLDINGS BERHAD

KLSE (MYR): PERWAJA (5146)

You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!

Last Price

0.01

Today's Change

0.00 (0.00%)

Day's Change

0.00 - 0.00

Trading Volume

0


5 people like this.

1,585 comment(s). Last comment by aliyusof 2018-03-12 09:41

Kris Wong

430 posts

Posted by Kris Wong > 2016-12-06 10:46 | Report Abuse

Has a good look now at Perwaja-LA maybe just for trading purposes. Any kind person can help or comments on this Loanstock as compare to the mother shares ?

Double10

16 posts

Posted by Double10 > 2016-12-08 18:07 | Report Abuse

Perwaja LA is a better trading counter than the mother share. According to the restructuring scheme, the RM1.00 LA will be repaid with 70 sen per LA after haircut of 30%. The 70 sen will be paid via issuance of new Perwaja shares @ 15 sen each. So for every 1 LA, you will end up with 4.67 new Perwaja shares. At today's closing price of 12 sen, the LA is theoretically worth 56 sen. That is quite easy to understand. Current depressed prices were caused by margin account forced sale by the bank, which has completed 2 weeks ago, as reported in Bursa website. Only about 50 million LA are floating in the market. This is really small amount. The balance 230 million tightly held by major shareholders; their original cost is RM1.00 at time of subscription. They would never sell and will go for share exchange exercise.

Double10

16 posts

Posted by Double10 > 2016-12-08 18:09 | Report Abuse

So the call is Strong Buy PERWAJA-LA at current price. The risk reward is too attractive!

Kris Wong

430 posts

Posted by Kris Wong > 2016-12-08 23:21 | Report Abuse

TQ. Agreed but subject to the proposed restructuring is successful within the timeframe to rectify its PN17 status. Due to the huge losses suffered over the years, although the risk is high but the potential reward is much higher than the risk. Something like bet RM1 can win RM7 at today LA price against the mother share price !!!

Double10

16 posts

Posted by Double10 > 2016-12-09 10:06 | Report Abuse

Not many people know about this computation.

Kris Wong

430 posts

Posted by Kris Wong > 2016-12-13 09:22 | Report Abuse

It is also worthwhile to note that the LA can be converted into the ordinary shares at the option of holders on a 1 to 1 basis with no further cash outlay from 26 March 2017 onwards !!!

Double10

16 posts

Posted by Double10 > 2016-12-14 17:15 | Report Abuse

That means there is a 5.5 sen arbitrage opportunity.
We checked with the registrar, Mega Corporate Services, they confirmed that the on-going restructuring scheme will not affect the conversion of LA into shares if holders choose to convert. So comes 27 March 2017, LA holders can submit the conversion form and after 8 market days, the shares will be credited into holders' CDS account.

Kris Wong

430 posts

Posted by Kris Wong > 2016-12-15 10:02 | Report Abuse

Double10 good, we r in the same wavelength, pray also that the proposed restructuring is successful as the reward will be very much higher !!!

tiongkeat

405 posts

Posted by tiongkeat > 2016-12-16 16:06 | Report Abuse

how about kinstel? any chances to recover too? lolx BTW PERWAJA LA no expire date?

aliyusof

1,393 posts

Posted by aliyusof > 2017-01-05 10:37 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5305357
kinsteel is under serious risk of winding up, just like this Perwaja. be careful!

bjgdila123

3,463 posts

Posted by bjgdila123 > 2017-01-10 11:28 | Report Abuse

buying time , going to move tdy

aliyusof

1,393 posts

Posted by aliyusof > 2017-01-27 21:41 | Report Abuse

1
PERWAJA HOLDINGS BERHAD (“PHB” OR THE “COMPANY”)
• NOTICE PURSUANT TO SECTION 218 OF THE COMPANIES ACT, 1965 (“NOTICE”)
(1) Date of presentation of the Notice Pursuant to Section 218 of the Companies Act,
1965 (“Act”)
The Board of Directors of the Company wishes to announce that a Notice was served on the
Company’s wholly-owned subsidiary, Perwaja Steel Sdn Bhd (“PSSB”) on 23 January 2017 by
Lembaga Kumpulan Wang Simpanan Pekerja (“KWSP”).
(2) The particulars of the claim under the Notice, including the amount claimed for
and the interest rate
KWSP is demanding for a total payment of RM6,632,920.00, being the outstanding amount
owing by PSSB pursuant to a consent judgement dated 3 December 2015.
PSSB is given 3 weeks from the date of service of the Notice to settle the said outstanding
amount failing which winding up proceedings shall be instituted against PSSB.
(3) Details of default or circumstances leading to the filing of the Notice against PSSB
PSSB had failed to perform its payment obligations pursuant to the consent judgement dated
3 December 2015 where it was agreed that PSSB will settle RM9,173,299.00 based on the
following schedule:
(i) RM1,000,000.00 advance payment which was already paid to KWSP;
(ii) RM250,000.00 in 9 monthly instalments commencing from 30 March 2015 till 30
November 2015; and
(iii) Balance of RM5,923,299.00 be paid on 30 December 2015.
(4) The financial and operational impact of the Notice on PSSB and the expected
losses, if any, arising from the Notice
The amount owing to KWSP has been accrued for in the accounts of PSSB. In addition, PSSB
has ceased operations since August 2013 and as such, the Notice is not expected to have any
further operational impact on PSSB.
(5) Steps taken and proposed to be taken in respect of the Notice
PSSB is currently seeking the necessary legal advice to address this matter.
Further announcement on the development of the above matter will be made to Bursa Malaysia
Securities Berhad in due course.
This announcement is dated 26 January 2017.

aliyusof

1,393 posts

Posted by aliyusof > 2017-01-27 21:42 | Report Abuse

Above extracted in Bursa Announcement 27th Jan 2017

rohank71

732 posts

Posted by rohank71 > 2017-01-30 19:25 | Report Abuse

going for liquidation.

Posted by Billie Tee > 2017-02-07 17:12 | Report Abuse

What to do with pewaja stock? Sighhhhhh

rkpvr

573 posts

Posted by rkpvr > 2017-02-10 09:27 | Report Abuse

Well wait for 0.4..0.45...buy to leverage your existing stock and then dispose when it goes up where possible...Good luck

sctan

468 posts

Posted by sctan > 2017-02-10 09:30 | Report Abuse

try not to average down yr cost in this stock, owing money and without income. only hope is someone take over.
just wait for any rebound and cut loss.

rkpvr

573 posts

Posted by rkpvr > 2017-02-10 10:17 | Report Abuse

picked up 7500 at 0.065 and disposing gradually now...to bring down my cost of earlier purchase Manage to do so earlier by picking at 0.045 /0.05 and disposed at 0.085..Good luck guys..God bless

rkpvr

573 posts

Posted by rkpvr > 2017-02-10 10:22 | Report Abuse

Cant have too much of fund tied up on this...far too long already..those with holding capacity..all the best for better pricing.

aliyusof

1,393 posts

Posted by aliyusof > 2017-02-10 15:41 | Report Abuse

How rounds of this same stories of this Chinese investment have been played up and recycled to trap small innocent
investors over the last 12 months period? At least 4 to 5 times, yet many still believe it. Now the truth surfaced. Advisable
to cut loss before the counter may be delisted by end March as the dateline set by Bursa/SC.

Posted by Lim Motor R Station > 2017-02-10 22:47 | Report Abuse

if delisted, will they pay the debt? will the debtor allow perwaja delisted and get nothing?

Posted by Lim Motor R Station > 2017-02-11 21:04 | Report Abuse

TOP STORIES
Hot Stock
Perwaja Holdings shares down 30% on aborted regularisation plan
By Yimie Yong / theedgemarkets.com | February 10, 2017 : 4:28 PM MYT
Printer-friendly versionSend by emailPDF version
Translated by Google Translator:
KUALA LUMPUR (Feb 10): Shares of Perwaja Holdings Bhd fell as much as 30% in early trading, after the Practice Note 17 steel maker aborted its regularisation plan, following the lapse of its agreements with Chinese conglomerate Tianjin Zhiyuan Investment Group Co Ltd (Zhiyuan).

At the close of morning session, Perwaja's stock fell 3 sen or 30% to 7 sen, with 10.45 million shares traded, for a market capitalisation of RM39.2 million. Its 200-day average trading volume is about 1.18 million.

Perwaja executive director Tan Sri Pheng Yin Huah told theedgemarkets.com today that the company aborted its plan, because it has yet to get the green light from its creditors, Petroliam Nasional Bhd (Petronas) and Tenaga Nasional Bhd (TNB), to the proposed regularisation scheme.

“Zhiyuan did not fulfil its promise [to bring in funds] on time. So Petronas and TNB didn’t accept and didn't agree with Zhiyuan’s proposed plan. We had to abort the plan,” he said via telephone.

“We will continue to look for a new partner, probably from China as well. We have to decide (on the next course of action) by the end of March,” Pheng added.

In November last year, Pheng told The Edge weekly that the banks have accepted the restructuring plan, but Petronas and TNB, in which Perwaja owes RM132 million and RM250 million respectively, have yet to give their nod.

At that time, Pheng did not foresee the two creditors blocking the plan, as he said they would be able to recover 70% of their outstanding amount.

On Wednesday, Perwaja announced the proposed regularisation scheme has been aborted. The loss-making company said the parties were not able to fulfil the conditions precedent within the timeline stipulated under the master framework agreement and the supplemental master framework agreement signed between Perwaja, Perwaja Steel Sdn Bhd and Zhiyuan’s wholly-owned unit Zhiyuan International Investment & Holding Group (HK) Co Ltd.

To recap, Perwaja and its subsidiary Perwaja Steel entered into a master framework agreement with Zhiyuan in July 2015, to formalise arrangements in relation to the proposed regularisation scheme. Under the deal, Zhiyuan was to pump in RM1.8 billion to revive the steel maker.

The plan could have seen Zhiyuan emerge as the largest shareholder in Perwaja, with a 64% stake.

Posted by Lim Motor R Station > 2017-02-14 09:57 | Report Abuse

Write a comment..price at bottom line already?

aliyusof

1,393 posts

Posted by aliyusof > 2017-02-15 10:15 | Report Abuse

CDRC (Bank Negara) also sudah it gave up ... hopeless now..

aliyusof

1,393 posts

Posted by aliyusof > 2017-02-15 10:25 | Report Abuse

Lim Motor, if delisted, share value is almost worthless, not tradable in Bursa.

Posted by Lim Motor R Station > 2017-02-15 11:07 | Report Abuse

really give up, cut loss and sold...won't take the unnecessary risk, goodbye

sarawakian

292 posts

Posted by sarawakian > 2017-02-19 23:17 | Report Abuse

from now till Mar 30 (about 20+ working days), what can the management does to turn around the company? super slim chance...not that i want to demoralize Perwaja management

Posted by Lim Motor R Station > 2017-02-22 11:26 | Report Abuse

Holland

aliyusof

1,393 posts

Posted by aliyusof > 2017-02-23 11:04 | Report Abuse

Same old thing, people never learn.

fl888

7,417 posts

Posted by fl888 > 2017-02-23 11:11 | Report Abuse

Will play up for restructuring by par reduction to 1cts etc....

fl888

7,417 posts

Posted by fl888 > 2017-02-23 11:47 | Report Abuse

Tp 10cts today

Kris Wong

430 posts

Posted by Kris Wong > 2017-02-23 11:57 | Report Abuse

follow the style of hubline ? and/or Holland !!!

Posted by maunkulopdollah > 2017-02-23 12:36 | Report Abuse

Tnb takeover should be worth rather to wind up it..

Posted by maunkulopdollah > 2017-02-23 18:25 | Report Abuse

Tomorrow might be gaping up..mostly buying activities today..something brewing in this counter..0.10 tomorrow should be ok.

Posted by maunkulopdollah > 2017-02-24 11:00 | Report Abuse

Die already..cut lost..bankruptcy company

Ltk88888

37 posts

Posted by Ltk88888 > 2017-03-31 09:42 | Report Abuse

Runnnnnnñnnn

Kris Wong

430 posts

Posted by Kris Wong > 2017-03-31 14:07 | Report Abuse

Pray for one final chance ?, refer to company announcement in Bursa today !!!

Posted by Namachivayam Khisda > 2017-04-16 20:39 | Report Abuse

New imported steel tax to protect local players - minister

TrippleZ

1,563 posts

Posted by TrippleZ > 2017-04-20 20:21 | Report Abuse

Attention: To be de-listed on May 4.

aliyusof

1,393 posts

Posted by aliyusof > 2017-04-20 20:28 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5402029
Breaking News: impending delisting of shares of Perwaja from Bursa!!

aliyusof

1,393 posts

Posted by aliyusof > 2017-04-21 06:15 | Report Abuse

TP probably 1 sen, may be just like the share a company of Lion Group delisted recently.

fl888

7,417 posts

Posted by fl888 > 2017-04-21 07:44 | Report Abuse

Last minute RP appeal and then limit up like Wintoni,,,,

berjaya

157 posts

Posted by berjaya > 2017-04-21 08:49 | Report Abuse

0.5 sen is the heading price?? perwaja shareholders hope you did not make huge lose.

berjaya

157 posts

Posted by berjaya > 2017-04-21 09:13 | Report Abuse

12 minutes trading reach 2 sen, -63.64% compare yesterday closing price.

speakup

24,480 posts

Posted by speakup > 2017-04-21 09:19 | Report Abuse

this used to be owned by the Terengganu govt. Then they listed it, and exited the company. End up, the losses passed from Terengganu govt to the investors.
It's a CON job from day-one!

speakup

24,480 posts

Posted by speakup > 2017-04-21 09:21 | Report Abuse

Moral of the story....dont touch Terengganu govt stocks. When they list, means they want to exit.

Post a Comment
Market Buzz