uncle koon said look at the profit growth not assets or the company cash cos the director not giving to shareholders.texchem reported loss so 40cts kambing
aiya calvin..if u cuncun call...then u would not suggest to buy right before this quarter result out because u should know it would be bad results, based on your cuncun interpretation......however u bought because u imagined the results would be fantastic right?
Whatever mco or Rmco all companies including bankrupt zelan also subject to
Now we look for mco uplift as Roaring sales of Gloves will be very very very good for Texchem as it's Huge Rm400 plus Millions Revenue will get a titanic shift into manufacture of latex and nitril glove chemicals
Skyrocketing sales of Texshield immense Success!
Manufactures of hand sanitizer plus distribution of face masks also game changer
We refer to the announcements made by Texchem Resources Bhd. (“TRB”) on 6 May 2014, 12 May 2015, 29 April 2016, 15 May 2017, 9 November 2017, 27 April 2018, 8 November 2018, 10 May 2019 and 4 November 2019 in relation to the above matter.
As at to-date, Texcorp, a 73.94% owned subsidiary of TRB, holds 18,144,309 ordinary shares in TRB, representing 15.05% of the total number of issued shares of TRB (“TRB Shares”).
Pursuant to Section 22(5)(b) of the Companies Act 2016 (“Act”), Texcorp is required to dispose of all its shareholding in TRB within twelve (12) months or such longer period as the Companies Commission of Malaysia (“CCM”) may allow. Following thereto, Texcorp has on 14 April 2020 submitted an application to CCM for an extension of time to dispose of the TRB Shares.
The Board of Directors of TRB wishes to announce that Texcorp has on 7 May 2020 received the letter of approval dated 4 May 2020 from the Registrar of CCM for a further extension of time of six (6) months to comply with Section 22(5)(b) of the Act, namely the new deadline for Texcorp to dispose of the TRB Shares is 15 November 2020. Pending the disposal of the TRB Shares, Texcorp shall have no right to vote at meetings of TRB or any class of members of TRB.
The aforesaid approval granted by CCM is conditional upon Texcorp lodging the duly executed and affirmed original documents, which were previously submitted to CCM via e-mail, and payment of RM100 lodgment fee to CCM within 30 days from the end of the Movement Control Order in Malaysia (“MCO”). Texcorp has undertaken to fulfil the above conditions as soon as the MCO is lifted.
BOD tussle? After 2014 Texcorp shares disposal announcement ...FY17 , FY18, FY19 is at Loss .
===========
As at to-date, Texcorp, a 73.94% owned subsidiary of TRB, holds 18,144,309 ordinary shares in TRB, representing 15.05% of the total number of issued shares of TRB (“TRB Shares”).
Pursuant to Section 22(5)(b) of the Companies Act 2016 (“Act”), Texcorp is required to dispose of all its shareholding in TRB within twelve (12) months or such longer period as the Companies Commission of Malaysia (“CCM”) may allow. Following thereto, Texcorp has on 14 April 2020 submitted an application to CCM for an extension of time to dispose of the TRB Shares.
The Industrial Division will continue organically grow its core business and intensify diversification efforts into the LATEX glove chemicals and food chemicals segment.
>>> is Latex glove chemicals... is not Nitrile medical gloves which is in sudden high demand due to Covid-19 Pandemic.
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calvintaneng
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Posted by calvintaneng > 2020-06-27 12:08 | Report Abuse
Warren Buffet said
You don't drive a car by looking at the rear view mirror
Yes of course Calvin has observed the past mistakes and losses of Texchem
It's sushiking was impacted by mco lock down
MCO lock down also affected many other businesses as well so it is a one off freak event.
Now the bad years of losses are already reflected in Texchem"s share price falling from Rm1.00 to only 48 sen
So this last bad quarter is already expected
We now look forward to the game changer which will change the fortunes of Texchem for the better
1. Texchem is pivoting it's business of manufacturing Rubber goods to rubber gloves latex
From polymer to nitrile gloves chemicals
Ample time is given as Topglove already stated that all it's rubber latex gloves future production is locked in for 400 days
So Texchem Rm400 millions revenue will now turn in that direction for upcoming demand
Texshield already in place and sells like hotcakes worldwide (many Malaysia Companies only got JV or just in proposal
So Texchem has joined the race while others have just only mooted the idea.
Texchem also sells face masks
Texchem has also gone into sanitizer production
So Texchem is just at the verge of transformation to become another Luxchem , samchem or Hexza
So see the "future"!!!
The future is very bright
Above all Texchem Net Assets are over Rm1.90
Has many industrial factories
So it has huge potential and fire power !!!