MATERIAL LITIGATION AWC BERHAD ("AWC" OR "THE COMPANY") MATERIAL LITIGATION PURSUANT TO PARAGRAPH 9.04(F) OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTSAWC BERHAD TypeAnnouncementSubjectMATERIAL LITIGATION DescriptionAWC BERHAD ("AWC" OR "THE COMPANY") MATERIAL LITIGATION PURSUANT TO PARAGRAPH 9.04(F) OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS
Reference is made to our announcements dated 20 September 2018,1 November 2018, 14 December 2018 and 22 February 2019 respectively, of which the abbreviations and definitions used herein shall have the same meanings as defined in the previous announcements.
The Board of Directors of AWC wishes to update that the a Consent Judgment has been recorded on 1 April 2019 among Parties for the Writ Summons and Statement of Claim by QDT against BUCG.
The summary of the Consent Judgment is as follows:
a) In full and final settlement of the QDT's claim and BUCG's counterclaim, BUCG shall pay to QDT a sum of RM805,757.02 (which sum includes the payment of GST amounting to RM5,757.02) by way of two (2) equal instalments of RM402,878.51 each , wherein the same shall be paid on 30 April 2019 and 30 May 2019 respectively;
b) Whereof if BUCG fails to satisfy the 1st Installment on or before 30 April 2019, then the entire sum amounting to RM805,757.02 shall become due and payable immediately whereupon QDT shall have the liberty to commence execution proceedings;
c) BUCG shall not have the liberty to file any claim against QDT howsoever and whensoever arising from the Project, the Letter of Award or for all causes of action therefrom;
d) QDT shall not have the liberty to file any claim against BUCG howsoever and whensoever arising from the Project and the Letter of Award or for all causes of action therefrom save and except where BUCG failed to make full payment of RM805,757.02 to QDT in accordance with the terms as stated in (a) above.
e) QDT shall further provide full cooperation to BUCG to finalise the Final Account;
f) There is no admission of liability by both Parties; and
g) Both Parties will bear their own cost respectively.
Since I bought this share, the most issue that worry me is this legal case where BUGG counterclaims rm11mil on QDT. Now, i feel more comfortable on AWC
not entirely good. sue for 2m but only compensate 800k. but at least no need to pay 11m~ case settled so profit all the way up :D another 800k to the pocket on Q4.
AWC BERHAD TypeAnnouncementSubjectOTHERS DescriptionAWC BERHAD ("AWC" or "THE COMPANY") - TRADE CONTRACT ENTERED INTO BETWEEN QUDOTECH SDN. BHD. ("QUDOTECH"), A WHOLLY-OWNED SUBSIDIARY OF AWC, AND LENDLEASE PROJECTS (M) SDN. BHD. ("LLPM")
Further to the Company’s announcement made on 22 February 2019, the Board of Directors of AWC wishes to announce that Qudotech, a wholly-owned subsidiary of AWC, had on 3 April 2019 accepted the trade contract entered into between Qudotech and LLPM, for the appointment of Qudotech as the Trade Contractor for the provision of preliminary works of Trade Package No. TP24 – Hydraulic Services, at the Trade Contract Sum of RM29,871,820.00 (“PWA”).
Please refer to the attachment for further details.
Company’s PE is still attractive. I will still accumulate on weakness. Have been accumulating for the past 2 years. Anxious to see the next Qtr results, which should be positive. Outlook for the year is also encouraging with the new projects and with orderbook above RM1bil.
This company manages to gets contracts and provides good earnings visibility with its existing long term contracts. They also get profit guarantee from the newly acquired company. Valuation is not expensive with positive cash flow. Downside risks seem to be limited . What is holding it back ?
king36, that's right, I have been holding this stocks for sometimes, but sold off all recently, because the directors keep exercising their ESOS and sell in the open market.. Basically like taking money from shareholders putting into their own pocket only... I don't believe in Efficient Market Hypothesis, but the market is efficient to a certain degree. Sometimes when something is too cheap to be true, it probably is!
Day 45 of Fundamental Daily, YAPSS will be covering AWC Berhad which fall under YAPSS Too Hard Box and your help is needed! Educate YAPSS what do think about AWC and your teaching is highly appreciated! #YAPSS #FundamentalDaily #AWCBerhad
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....
martinbartesque
1,547 posts
Posted by martinbartesque > 2019-04-01 20:00 | Report Abuse
MATERIAL LITIGATION AWC BERHAD ("AWC" OR "THE COMPANY") MATERIAL LITIGATION PURSUANT TO PARAGRAPH 9.04(F) OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTSAWC BERHAD
TypeAnnouncementSubjectMATERIAL LITIGATION
DescriptionAWC BERHAD ("AWC" OR "THE COMPANY") MATERIAL LITIGATION PURSUANT TO PARAGRAPH 9.04(F) OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS
Reference is made to our announcements dated 20 September 2018,1 November 2018, 14 December 2018 and 22 February 2019 respectively, of which the abbreviations and definitions used herein shall have the same meanings as defined in the previous announcements.
The Board of Directors of AWC wishes to update that the a Consent Judgment has been recorded on 1 April 2019 among Parties for the Writ Summons and Statement of Claim by QDT against BUCG.
The summary of the Consent Judgment is as follows:
a) In full and final settlement of the QDT's claim and BUCG's counterclaim, BUCG shall pay to QDT a sum of RM805,757.02 (which sum includes the payment of GST amounting to RM5,757.02) by way of two (2) equal instalments of RM402,878.51 each , wherein the same shall be paid on 30 April 2019 and 30 May 2019 respectively;
b) Whereof if BUCG fails to satisfy the 1st Installment on or before 30 April 2019, then the entire sum amounting to RM805,757.02 shall become due and payable immediately whereupon QDT shall have the liberty to commence execution proceedings;
c) BUCG shall not have the liberty to file any claim against QDT howsoever and whensoever arising from the Project, the Letter of Award or for all causes of action therefrom;
d) QDT shall not have the liberty to file any claim against BUCG howsoever and whensoever arising from the Project and the Letter of Award or for all causes of action therefrom save and except where BUCG failed to make full payment of RM805,757.02 to QDT in accordance with the terms as stated in (a) above.
e) QDT shall further provide full cooperation to BUCG to finalise the Final Account;
f) There is no admission of liability by both Parties; and
g) Both Parties will bear their own cost respectively.
This announcement is dated 1 April 2019.
Announcement InfoCompany NameAWC BERHADStock NameAWCDate Announced01 Apr 2019CategoryGeneral Announcement for PLCReference NumberGA1-27032019-00024