Auditor unqualified opinion with material uncertainty related to going concern in the Company's Audited Financial Statement for the financial year ended 30 June 2019
The Audit Report indicates that PWI incurred a net loss of RM157,432,587 during financial year ended 30 June 2019 and as of that date,PWI current liabilities extended its current assets by RM35,905,526,and HAS NOT compiled with the repayment terms of its bank borrowings
Be Cautious! Be Alert! when then retailer investors to trade with this problem company very high risk to incur all losses in your investment when Bursa announce PN17
Why major shareholders and its Director keep on disposing their own company shares recently because the have already smelt the smoke earlier than other investors
PWI had defaulted on its term loan principal and interest payment totally RM7.84 million as at 23 October 2019 due to Bank Rakyat(Default in Payment to Bank Rakyat) and the total amount outstanding of the defaulted term loan facility of RM22.29 million.
PWI at risk of being PN17 Cash and bank balances as at 30 June 2019 remain at RM808,000 Retain Earnings Negative -RM65.315 million Very tight cash flow
think all this has been disclosed, 1.5 years factories stop production, no business how to pay debts? the faster they can start running the factory, the faster they can start paying off the debts
Priceworth: Innoprise to own 30% under log supply agreement. Priceworth International signed a log supply agreement with a unit of Innoprise Corp SB under which Priceworth will issue new shares to Innoprise, amounting to a 30% stake in the company, for logs supplied. Priceworth said it had entered the log supply agreement with Rakyat Berjaya SB (RBSB), a subsidiary of Innoprise, the investment holding vehicle of Yayasan Sabah, pursuant to a memorandum of understanding signed earlier. (The Edge)
yeah but there is still a Due Diligence that Innoprice has to do on PW to see if they shares are worth 5 cents. While supply log agreement has been signed, worse case scenario is that Innoprise wants a lower entry point, PW refuses and just pay for the logs. Either way, got raw materials to run the factory.
This counter no need to worry. Just matter of time only. The worst was passed. I bought before right issue, after right issue my cost become 8 sen. Then then the price keep going down. I bought a lot at 4 sen to average my cost then sold all at 7.5 sen. I earn a lot in this counter
Seperti Andy, saya membeli pada harga 9 sen. Apabila harga jatuh, saya membeli lagi pada harga .045 untuk puratakan kos. Apabila harga naik sedikit saya jual sebahagian. Sekarang kos purata sesaham ialah 0.68. Jika harga turun lagi, saya bercadang akan membeli lagi. Saya yakin kaunter ini semakin pulih (atau dalam proses pemulihan) setelah terpaksa menghentikan operasi pengeluaran selama satu setengah tahun.
just read the terms of the agreement again, note item e) :
ICSB shall be entitled to nominate and appoint two (2) Non-Independent Non-Executive Directors in the Board of Directors of PWI and a Chief Executive Officer upon the issuance of New shares in PWI issued by PWI to ICSB, following the completion and acceptance of the due diligence exercise within two months from the date of this Agreement.
if this carries on, someone is going to sue the state government for this selective prosecution that resulted in massive losses for a public listed company, idiots dont realize that the public gets caught in this cross fire..
Yes,As I have said earlier sue SBH State government for PWI failure n claim them multi billions!Come state election,send WARISAN to holland,as so many log co.are unemployed!Totally irresponsible government.
jk... i think its only 1-2 companies right, the rest can still log.. seems the CM is taking revenge, someone must have pissed him off real bad for them to forcefully take over the company and yes, matter of time till someone sues them if it goes under
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abcb
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Posted by abcb > 2019-11-02 00:28 | Report Abuse
Very close toward to PN17