Until they come up with some hint of turning the company around, even the syndicates will be afraid to goreng this one. Afirad they'll cook themselves only.
Four months after announcing its plan to shut down manufacturing of two loss-making subsidiaries, EKA Noodles Bhd has made an about-turn and announced today that both units will now resume their operations.
The subsidiaries are EKA Foodstuff Sdn Bhd and Kilang Bihun Bersatu Sdn Bhd (KBBSB).
On Jan 12 this year, EKA Noodles said it was planning to shut down operations of EFSB and its other wholly-owned unit KBBSB from Jan 18, after which it would sell off the assets of KBBSB to settle the latter's liabilities.
EKA Noodles had then said the move was proposed because both subsidiaries had been suffering losses for several years and were not expected to turn around in the near future.
As for KBBSB, EKA Noodle's board expects its production activities to fully resume by next month.
On May 8, the group appointed Tan Sri Tan King Tai @ Tan Khoon Hai as its non-independent and non-executive chairman, following the resignation of former independent non-executive chairman Datuk Sohaimi Shahadan on May 2.
Tan is the father-in-law of EKA Noodles’ executive director Fong Yit Meng, and sits on the Board of Directors in Pensonic Holdings Bhd, Muar Ban Lee Group Bhd and SWS Capital Bhd.
“Now that we have a strong management on board, we are confident to pull Eka Noodles out of the red. Hopefully, in the next month, we will make public our plans,” said Tan, while adding that acquisition of new companies with the same industry is on the cards.
definitely in my watchlist. accumulation almost cmplete.. waiting signal to markup... bihun goreng mamak utara.. come come.. goreng.. and jom beli bihun buatan malaysia, jgn asyik maggi
woooo... ini bihun goreng mamak bangun mengamuk oo.. complete management restructuring? macam datang liao.... PN17 no more? TP 0.30???? or next week no power coz WA no movement??? hihihi
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2959 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
sasuke
217 posts
Posted by sasuke > 2017-03-14 23:43 | Report Abuse
off market traded 0.15 cents...uptrend coming d