share price drop coz misunderstanding the announcement. Company announce that it is taking time. I think they said the banks are tricky, and so they are careful to make sure the banks not taking advantage. So taking time to nego with banks in favor of the group.
We are buying it batch by batch now.. it is so cheap.. it is PN1 counter, that why selling pressure very strong.. but in fact it is cash rich company now..
The out of PN1 plan is revise to 2 months later.. those contra player will sell off first and come back to chase again later even it is higher price.. But if you are investor and able to hold long term, what will you do?
PRACTICE NOTE 1 / GUIDANCE NOTE 5: MONTHLY ANNOUNCEMENT
AHB HOLDINGS BERHAD
Type Announcement Subject PRACTICE NOTE 1 / GUIDANCE NOTE 5 MONTHLY ANNOUNCEMENT Description AHB HOLDINGS BERHAD (“AHB” or “the Company”) - Monthly update on the status of its default in payment pursuant to Practice Note 1 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“PN 1”)
In compliance with paragraph 3.2 of PN 1 and further to the announcements made on 29 August 2013, 4 September 2013, 27 September 2013, 29 October 2013, 29 November 2013, 27 December 2013, 29 January 2014, 28 February 2014, 31 March 2014, 29 April 2014, 29 May 2014, 24 June 2014, 27 June 2014, 30 July 2014 and 29 August 2014, the Board of Directors of AHB wishes to inform that while AHB has the necessary funds for the settlement of the creditors stipulated in our previous PN 1 announcements, AHB is taking time to settle these creditors by following the prudent legal process to ensure the proper full and final settlements. AHB will settle these creditors urgently, and the complete settlement is expected within two months. Subsequently, AHB will apply to Bursa Malaysia Securities Berhad for AHB to be uplifted from the PN 1 status.
Further to the announcement made on 30 September 2014, AHB wishes to announce that AHB has made payments of approximately RM3.3 million to CIMB Bank Berhad towards the full and final settlement of its outstanding amount to the said bank today.
In addition, AHB has also made payment of approximately RM0.4 million to Alliance Bank Malaysia Berhad recently towards full and final settlement of its loan with the said bank.
Now, AHB has only one remaining bank borrowing of approximately RM1.3 million to settle with Malayan Banking Berhad, and AHB is already in process to resolve the said bank borrowing within 2 months, barring any unforeseen circumstances.
The PN17 criteria was triggered as the Company’s latest audited financial statements for the financial year ended 30 June 2014 that was announced on 31 October 2014 where, the Company’s External Auditors have expressed a disclaimer opinion in the Company’s latest audited financial statements for the financial year ended 30 June 2014 (“First Announcement”).
The Board wishes to highlight that the External Auditor’s disclaimer is caused by the uncertainties on the various effects on the financial statements in the event of deconsolidation of one of its wholly owned subsidiary that has been wound up. However, AHB‘s solicitor had already commenced the process to urgently settle all outstanding matters to allow for the said subsidiary to apply to the court for a stay of winding up order.
Dun worry, AHB is in net cash position now. It will shoot up again once they settle the matter. Don't forget its major shareholder is dato tiong. He will bring AHB back on track
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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....
devil1125
188 posts
Posted by devil1125 > 2014-09-29 10:49 | Report Abuse
wat happen today??? hit new lower point ....@@