Scomi Energy Services external auditor Messrs KPMG PLT has expressed material uncertainty over the group's ability to continue as a going concern based on its financial statements for the FY19. It also triggered the Practice Note 17 (PN17) criteria as its shareholders’ equity on a consolidated basis has fallen below 50% of its issued share capital as at June 30, 2019. It will seek a waiver from being classified as a PN17 company to Bursa Securities. (The Edge)
Quoting from Mabel & Daily 8 :- Mabel "Better sell as soon as you can...
Scomi Energy: Auditor flags going concern uncertainty. Scomi Energy Services external auditor Messrs KPMG PLT has expressed material uncertainty over the group's ability to continue as a going concern based on its financial statements for the FY19. It also triggered the Practice Note 17 (PN17) criteria as its shareholders’ equity on a consolidated basis has fallen below 50% of its issued share capital as at June 30, 2019. It will seek a waiver from being classified as a PN17 company to Bursa Securities. (The Edge) 25/11/2019 10:11 PM
Scomi's PN17 waiver application rejected KUALA LUMPUR (Dec 3): Bursa Malaysia Securities has rejected Scomi Group Bhd's Practice Note 17 (PN17) waiver application. In a filing today, Scomi said its application was rejected on Dec 2 as there are concerns on the sustainability and growth potential of the existing/remaining business and its ability to generate sufficient revenue and thus profitability. "Pursuant to the above as well as Paragraph 8.04 and Practice Note 17 of the Listing Requirements, the Board of Directors of Scomi wishes to announce that the company is now regarded as an affected listed issuer (PN17 company) as it has triggered Paragraphs 2.1(a) and 2.1(e) of PN17 of the Listing Requirements," it said.
Scomies was not scomi.. Scomies is charging 7% interest for the advance to scomi. There is positive feedback regarding bridging loan.. SC also will treat scomies differently as scomies has sound business. Once CR is done.. shareholder equity deficit will be no issue. If scomi sell its share of scomies to new investor then it will more +ve prospect
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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....
Legend
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Posted by Legend > 2019-11-01 07:22 | Report Abuse
Sell first...!