Warrant is still at a discounted price as compared to mother. However, there is lesser queue to support the price of warrant, hence the price may fluctuate greater than the mother.
On behalf of the Board of Directors of Fututech (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) and Astramina Advisory Sdn Bhd (“Astramina”) (collectively, the “Joint Advisers”) are pleased to announce that the KPSB SSA and PBSB SSA have become unconditional on 20 January 2016 upon fulfillment of all the conditions precedent set out therein. The Acquisitions have been completed on 21 January 2016 in accordance with the respective terms of the KPSB SSA and PBSB SSA. Accordingly, Kerjaya Prospek and Permatang Bakti are now wholly-owned subsidiaries of Fututech.
Fututech's current orderbook stood at RM2.7 billion, which could support its earnings until 2018. The group is tendering for RM1.17 billion worth of jobs from their strong partners ie SP Setia, Eco World, E&O..
KUALA LUMPUR: Construction firm Kerjaya Prospek Group Bhd, previously known as Fututech Bhd, has been awarded a dredging contract worth RM181.31mil for the Seri Tanjung Pinang (STP) development in Penang.
Acceptance of Letter of Award :) The Board of Directors of Kerjaya Prospek Group Berhad ("Company") is pleased to announce that its wholly-owned subsidiary company, Kerjaya Prospek (M) Sdn. Bhd. ("KPSB"), has on 12 May 2016 accepted a Letter of Award from BCB Heights Sdn. Bhd. ("BCB Heights") dated 12 May 2016, for the main building works of the proposed development project known as "Elysia Park Residence – Phase I” on part of PTD 199671, Nusajaya, Mukim Pulai, Daerah Johor Bahru, Johor Darul Takzim ("Project") ("Award").
The contract sum of the Award is RM312.85 million, excluding Goods and Services Tax, which comprises main building works, amongst others, for 3 tower blocks ranging from 30 floors to 36 floors and 1 podium car park of 10 floors for the Project.
The construction works to be undertaken by KPSB is expected to commence on 26 May 2016 (“Date of Commencement”) and due to be completed on 25 May 2019, being thirty-six (36) months from the Date of Commencement.
The Award will further increase and enhance the existing order book of the Company and its group of companies ("Group").
The Award will have no effect on the issued and paid-up capital of the Company but it is expected to contribute positively to the earnings and net assets per share of the Company and the Group for the financial years ending 2016 to 2019.
None of the directors and/or major shareholders of the Company or persons connected to them have any interest, direct or indirect, in the Project.
A copy of the press release in relation to the above is attached for information.
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....
IamTheBoss
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Posted by IamTheBoss > 2016-01-21 18:37 | Report Abuse
Warrant is still at a discounted price as compared to mother. However, there is lesser queue to support the price of warrant, hence the price may fluctuate greater than the mother.