I have high regard for BURSA listing officers BURSA selected them carefully, good Human Resource department screened properly at door they are professional, friendly, experts, well educated
Interpretation===> existing plan is NOT good enough, profitability still an issue
if buy now may be stuck some time until more revenue is earned. You are putting money into unproductive assets.
if buy now, even though low price coz nobody else want to buy. There is no guarantee you will make money. Essentially gambling
REPEAT You are putting money into unproductive assets.
I am not telling you to buy or not to buy, to sell or not to sell.
//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. //
"SPV 1, through STPKL, shall also acquire all assets and inventories relating to the monorail businesses from See Song Sons Sdn Bhd (SSSSB) at a price to be mutually agreed," it said. On SPV 2, the company said it would be funded by the group and wholly-owned by SPV 1, to own the accounting and management information system, and all technologies and intellectual properties, relating to the monorail business. "While SPV 3 to be funded by the group and wholly-owned by SPV 1 to own and manage the debts claimable and all rights arising from such debts in relation to the claims of the group in the monorail litigation claims," it said.
Just get some new news about inside the scomi company rumors say that the company it's about to shutting down soon - reason scomi it's in huge debts and scomi company unable to repay back the debts. I am selling my scomi before it become toilet roll share.
everything seems went wrong for this company...even though back by giant and prolific investor.. they should change the CEO instead..seems useless and very slow in everything !!
Type Announcement Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Description Scomi Group Bhd (571212-A) ("SGB" or the "Company") - Winding-up Petition against Scomi Engineering Bhd, a wholly-owned subsidiary of SGB We refer to our announcement dated 19 November 2018.
The Company wishes to announce that the High Court of Malaya at Shah Alam (the "Court") has today approved the winding-up of the Company’s wholly-owned subsidiary, Scomi Engineering Bhd (“SEB”). In addition, the Court has appointed Mr Lim Tian Huat of Messrs Rodgers Reidy & Co., K-3A-09, No. 2 Jalan Solaris, Solaris Mont Kiara, 50480 Kuala Lumpur as the Liquidator of SEB with costs to be paid out of SEB’s assets.
The winding-up of SEB will not have any financial and/or operational impact on the Company for the financial year ending 30 June 2020. The assets and liabilities of SEB and its subsidiaries have been deconsolidated from SGB’s consolidated financial statement as at 30 June 2019.
No material loss is expected to arise from the winding-up of SEB.
The Company does not intend to contest the winding-up order on SEB.
Not sure, but many counters suffered the same fate in the past for some reasons... but the price explode once announcement come!.. ECRL is connecting Kota Bharu tp Putrajaya to Port Klang.. I guess, the Gov need to introduce Monorail project in 1) Putrajaya and 2) Port Klang as a quick daily commute among workers in the areas. Just like the Bukit Bintang Monorail System. http://www.mrl.com.my/en/ Works has started... It is not going to be reversed...
@lee_m2020 have any info on what is delaying the rights issue? because without any rights issue, there is no hope for Scomi to tender for monorail project
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Posted by Scorse > 2019-12-03 19:34 | Report Abuse
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