I had invested in this counter for 3 yrs and played many rounds, so far is positive can make profit. Not as bad as some have commented. There are many rubbish counters such as AT, TMS, Patimas etc that really trap many investors and bleed.. These are what we really call rubbish.
yes.. ratio 1:1.. but you have to buy the right issue at 20 cent ( Tiger-OR) convert to mother share,,,then you will get your free warrant, Due date is either 16 or 17 Dec.
my experience is buying OR is better than buying cum & buyng OR's WR is better than buying OR. u still can wait for WR to be traded & see the price before you decide( do not have to pay for the mother & hold it)
Tis bad time to buy Tiger share, after i go thur their annual report 2013 on 4/12/2013,they have legal case of the subsidiary of the Tiger Company:- and they need paid Rm 5 mil by early jan 2014.
(a) Amount owing to Directors represents advances from Directors which are unsecured, interest-free and repayable on demand.
(b) Included in other payables of the Group are:-
(i) deposits received of RM650,923/- from vendors for the disposal of 11 pieces of freehold lands and; (ii) deposits received of RM449,380/- from vendors for the disposal of 24 units of freehold apartments.
(iii) amounts of RM1.8 million payable to the Plaintiffs of a legal case as disclosed in Note 36(b) to the financial statements.
Pls check in page 103
36. MATERIAL LITIGATION
(a) A legal action was initiated against Minply Industries (M) Sdn Bhd, a wholly owned subsidiary of the Company by Sunliq Sdn. Bhd. for the breached Terms pursuant to a Letter of Offer dated 16th March 2011. The case currently seeking Summary Judgement pursuant to Order 26A of the Subordinate Courts Act 1980 that the Defendant pay to the Plaintiff the sum RM81,132/- at the rate of 8% from the date of the Summons till date of judgement thereof.
The Court has allowed the Plaintiff’s application for summary judgement and the said amount has been fully settled during the financial period.
(b) A legal action was initiated by Tang Yit Fun and Tang Yit Peng (“the Plaintiffs”) against Tiger Synergy Berhad (“the Company”), Goldenier Property Management Sdn. Bhd (“GPM SB”), Janavista Sdn. Bhd, Tan Wei Lian and Tan Lee Chin (“the Defendants”) for a sum of RM4,575,000 and specific performance and damages for breach of contract. This case was fixed for hearing before the Honourable Judge Tuan Vazeer Alam Bin Mydin Meera on the 16th and 17th of October, 2013.
Consent Judgement was entered without liability. The Company and GPMSB are both jointly and severally liable to the Plaintiffs for the payment of RM1.8 million and the delivery of two units of properties with the title no. HSD222956, PT No. 8650 and HSD No 222958 PT No. 8652 (“the Properties”). In the event the Company and GPMSB are unable to deliver the Properties, the Company and GPMSB shall pay an amount of RM3.2 million to the Plaintiff. Other terms of settlement were stated in the Company’s announcement to Bursa Malaysia Securities Berhad on 21st October 2013.
With reference to the Company’s announcement dated 12 August 2013 and 27 September 2013. The Board of Directors of TIGER SYNERGY BERHAD (“the Company”) wish to update the Exchange on the following legal case of the subsidiary of the Company:-
A writ summon has been served by Tang Yit Fun (“ 1st Plaintiff) and Tang Yit Peng (“2nd Plaintiff’) against Tiger Synergy Berhad (“the Company”), Goldenier Property Management Sdn. Bhd. (GPMSB), Janavista Sdn Bhd (“JSB”) & 2 others [“the Defendants”] for the sum of RM4,575,000.00and specific performance and damages for breach of contract , interest and costs. GPMSB is the wholly-owned subsidiary of the Company.
This case was fixed for hearing before the Honourable Judge Tuan Vazeer Alam Bin Mydin Meera on the 16th and 17th day of October, 2013.
It is adjudged by consent and without admission of liability by any party herein that in full and final settlement of all disputes arising by all the parties hereto, the Company and GPMSB do jointly and severally:-
(1) pay to the Plaintiffs on or before 17th January 2014, the sum of Ringgit One Million and Eight Hundred Thousand (RM1,800,000-00) only by way of bankers chequein the name of the Plaintiff’s Solicitors, Najiana Wan Balbir;
(2) On or before 17 April 2014, undertake to deliver to the Plaintiff’s solicitors:
(a) the issue Document of Title HSD222956, PT No. 8650,Pekan Baru Sungai Buloh Daerah Petaling,; andHSD No 222958 PT No. 8652 Pekan Baru Sungai Buloh; free from all encumbrance and with vacant possession; (b) together with the consent to transfer from the state authority; (c) and the Memorandum of Transfer duly executed in the name of the 1st Plaintiff or the nominee duly nominated by her if she so wishes to nominate such a party with the stamp duty paid; (d) And the quit rent and assessment receipts all duly paid up to date; and (e) all requisite documents required to register the Property’s transfer.
(3) The Plaintiffs may appoint a nominee upon being notified that the Property is ready for transfer.
(4) The First Plaintiff and JSB shall discontinue the Kuala Lumpur High Court Action No 22-20-2010 with no order as to costs;
(5) the Parties hereby agree that each party shall have no further claim against each other their respective rights whatsoever against each other pursuant to the Shares Sale Agreement dated 19th December 2006 and Supplemental Agreement dated 17th January 2007 which shall cease to have effect forthwith;
(6) IN THE EVENT that the Company and GPMSB are unable to deliver to the Plaintiffs or her nominee the instruments mentioned at paragraph (2)(a) above, the Company and GPMSB shall, prior to the expiry of 17.04.2014 propose such other Properties of the equivalent value of Ringgit Three Million and Two Hundred Thousand (RM3,200,000.00) only to the 1st Plaintiff. THAT THE 1st Plaintiff may in her absolute discretion accept or reject within 7 days of such notification from the Company and GPMSB;
(7) AND if the 1st Plaintiff rejects the proposed properties in para (6) above, the Company and GPMSB hereby agree that they shall pay the balance of the Settlement Sum of Ringgit Three Million and Two Hundred Thousand (RM3,200,000.00) only within 7 days of such written notification from the 1st Plaintiff.
(8) AND IN DEFAULT of any of the terms of the settlement hereinabove, the Company and GPMSB shall pay the Plaintiffs the sum of Ringgit Five Million (RM5,000,000.00) only or any balance remaining outstanding with interest on the amount outstanding at the rate of 10% per annum from 1-1-2008 until full settlement.
(9) That the Plaintiffs shall withdraw the claim against the 1st, 2nd, 3rd, 4th and 5th Defendants with no order as to costs;
(10) That the 1st, 2nd, 3rd, 4th and 5th Defendants shall withdraw the counterclaim against the Plaintiffs with no order as to costs.
The Board of Directors of the Company wishes to announce that the Company had accepted the Term Loan Facility of up to Ringgit Malaysia : Five Million only (RM5,000,000.00) granted by TA Capital Sdn Bhd. Details and Salient Terms of the Loan Facility
Type of Loan : Term Loan
Purpose of Loan : Short Term Working Capital
Tenure of Loan : One (1) month from the date of drawdown of the Loan Facility unless extended by the Lender
Securities : a) Third Party Legal Charge by Pentas Irama Sdn Bhd over a vacant freehold agriculture land held under Title No : GM 1388, Lot 1887, Mukim of Klang, District of Klang, Off Jalan Sg Kandis (“the 1st Property”);
b) Third Party First Legal Charge executed by Allfit Furniture Industries Sdn Bhd over Three (3) parcels of freehold industrial lots held under Title No :
(i) PTD 3995 HS(D) 2853 (ii) PTD 3996 HS(D) 2854
(iii) PTD 3997 HS(D) 2855
All held under Mukim of Api-Api, Daerah Pontian, Negeri Johor (“collectively known as the 2nd Property")
c) Lienholder caveat over the 1st Property and the 2nd Property in favour of the Lender;
d) Personal Guarantee by Tan Wei Lian against the Loan Facility;
e) Irrevocable Letter of Instruction by Tiger Synergy Berhad to the financial institution where the proceeds of the Tiger Synergy Berhad’s Rights Issue shall be credited, to remit immediately on the listing and quotation date of the Rights Issue Shares into the bank account of TA Capital Sdn Bhd.
Financial Effects of the Borrowing of Funds Share Capital and Substantial Shareholdings
The Loan Facility will not have any effect on the issued and paid-up capital of the Company or the shareholdings of the Company’s substantial shareholders.
Net Assets and Earnings per share
The Loan Facility is not expected to have any effect on the net assets and earnings per share of the Company.
Gearing
Assuming the Loan Facility is fully drawdown, the gearing ratio will increase from 0.22 times to 0.28 times based on the audited consolidated results of the Group as at 30 June2013
Interest of Directors, substantial shareholders and Persons connected to such Directors and/or substantial shareholders
None of the Directors, substantial shareholders of the Company or its subsidiaries and/or persons connected with them have any direct or indirect interest in the Loan Facility.
Approval for the Borrowing of Funds
The Loan Facility is not subject to the shareholders’ approval in a general meeting of the Company.
Statement by Directors
Having considered the rationale, the Board of Directors of the Company is of the opinion that the Loan Facility is in the best interest of the Company.
Documents for Inspection
A copy of the Letter Offer of the Loan Facility is available for inspection at the Registered office of the Company at No. 482, Wisma Hwa Lian, Ground Floor, Jalan Zamrud 6, Taman
Koop, 70200 Seremban, Negeri Sembilan during the normal business hours for a period of one (1) month from the date of this announcement.
very good time to sell their right bcos past 2 day the price 0.025 but today 0.03,if u think u want wait to get free wa ,i think their mother will be at 0.17 or below.this tiger share can't support until they settle legal case, don't enter to tiger trap.
Hi faizal, thanks for information bcos i sell all right in 0.035 n 0.03 today price already drop to 0.025... but wen i went to egm meeting,they wait government project but i not sure how true they story... any advice about tis issue...
With reference to the Company’s announcement dated 12 August 2013 and 27 September 2013. The Board of Directors of TIGER SYNERGY BERHAD (“the Company”) wish to update the Exchange on the following legal case of the subsidiary of the Company:-
A writ summon has been served by Tang Yit Fun (“ 1st Plaintiff) and Tang Yit Peng (“2nd Plaintiff’) against Tiger Synergy Berhad (“the Company”), Goldenier Property Management Sdn. Bhd. (GPMSB), Janavista Sdn Bhd (“JSB”) & 2 others [“the Defendants”] for the sum of RM4,575,000.00and specific performance and damages for breach of contract , interest and costs. GPMSB is the wholly-owned subsidiary of the Company.
This case was fixed for hearing before the Honourable Judge Tuan Vazeer Alam Bin Mydin Meera on the 16th and 17th day of October, 2013.
It is adjudged by consent and without admission of liability by any party herein that in full and final settlement of all disputes arising by all the parties hereto, the Company and GPMSB do jointly and severally:-
(1) pay to the Plaintiffs on or before 17th January 2014, the sum of Ringgit One Million and Eight Hundred Thousand (RM1,800,000-00) only by way of bankers chequein the name of the Plaintiff’s Solicitors, Najiana Wan Balbir;
(2) On or before 17 April 2014, undertake to deliver to the Plaintiff’s solicitors:
(a) the issue Document of Title HSD222956, PT No. 8650,Pekan Baru Sungai Buloh Daerah Petaling,; andHSD No 222958 PT No. 8652 Pekan Baru Sungai Buloh; free from all encumbrance and with vacant possession; (b) together with the consent to transfer from the state authority; (c) and the Memorandum of Transfer duly executed in the name of the 1st Plaintiff or the nominee duly nominated by her if she so wishes to nominate such a party with the stamp duty paid; (d) And the quit rent and assessment receipts all duly paid up to date; and (e) all requisite documents required to register the Property’s transfer.
(3) The Plaintiffs may appoint a nominee upon being notified that the Property is ready for transfer.
(4) The First Plaintiff and JSB shall discontinue the Kuala Lumpur High Court Action No 22-20-2010 with no order as to costs;
(5) the Parties hereby agree that each party shall have no further claim against each other their respective rights whatsoever against each other pursuant to the Shares Sale Agreement dated 19th December 2006 and Supplemental Agreement dated 17th January 2007 which shall cease to have effect forthwith;
(6) IN THE EVENT that the Company and GPMSB are unable to deliver to the Plaintiffs or her nominee the instruments mentioned at paragraph (2)(a) above, the Company and GPMSB shall, prior to the expiry of 17.04.2014 propose such other Properties of the equivalent value of Ringgit Three Million and Two Hundred Thousand (RM3,200,000.00) only to the 1st Plaintiff. THAT THE 1st Plaintiff may in her absolute discretion accept or reject within 7 days of such notification from the Company and GPMSB;
(7) AND if the 1st Plaintiff rejects the proposed properties in para (6) above, the Company and GPMSB hereby agree that they shall pay the balance of the Settlement Sum of Ringgit Three Million and Two Hundred Thousand (RM3,200,000.00) only within 7 days of such written notification from the 1st Plaintiff.
(8) AND IN DEFAULT of any of the terms of the settlement hereinabove, the Company and GPMSB shall pay the Plaintiffs the sum of Ringgit Five Million (RM5,000,000.00) only or any balance remaining outstanding with interest on the amount outstanding at the rate of 10% per annum from 1-1-2008 until full settlement.
(9) That the Plaintiffs shall withdraw the claim against the 1st, 2nd, 3rd, 4th and 5th Defendants with no order as to costs;
(10) That the 1st, 2nd, 3rd, 4th and 5th Defendants shall withdraw the counterclaim against the Plaintiffs with no order as to costs.
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....
chowchow
68 posts
Posted by chowchow > 2013-12-02 16:37 | Report Abuse
let's see tomorrow .....