ibrahim is very lonely man now,.......what he want to do with brahim,........inject industrial properties or inject franchise business into brahim,......
how the problem started,........16 years ago, tamadam acquired brahim for rm130mil.,......for just the licence to do catering business at klia & penang airport,.......the goodwill was rm180mil,.......brahim don`t have any asset & net bank borrowing more than rm30mil.,.......franshise licence was by others,............few years later,........ tabung haji acquired the company for more than rm1.5 per share
somebody have parked lease liability amount to rm160mil. on brahim,.......look at short term bank borrowing increase from rm80mil. to rm240mil. (last quarter account)
Instead of suspending the stock- Bullshit should improvise the law by suspending all directors instead once the co. reach PN17. How can bullshit penalise ikan bilis when all control self inflicted by directors?
why directors still enjoy perk, benefit when company under your lousy care at doldrum? This is unfair to all hard earned ikan bilis who eat magee mee to support shares market.
major shareholders didn`t selling brahim,........it is very interesting to see if you buy at 1cent per share,........loss everything or 10 times profit,.........
Finish story, you have to know last time how this company make money, nasi lemak cost RM 3 each sell to MAS airfly RM 40 each, now is no this way to make money than die lor, simple and easy to understand.
KUALA LUMPUR (April 22): Urusharta Jamaah Sdn Bhd (UJSB) has ceased to be a substantial shareholder in Practice Note 17 (PN17) company Brahim’s Holdings Bhd.
In a bourse filing, Brahim’s disclosed that UJSB had disposed of 44.55 million shares equivalent to a 19.28% stake in the loss-making in-flight caterer on April 8 — thus ceasing to be a substantial shareholder.
UJSB is an investment holding and asset management company wholly owned by the Minister of Finance Inc (MoF Inc).
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READ MORE According to Brahim's 2020 annual report, UJSB was the largest shareholder of the group with a 19.28% stake.
UJSB had acquired the 44.55 million shares on Dec 28, 2018 after it was transferred by Lembaga Tabung Haji as a result of a restructuring exercise at the pilgrimage fund.
Notably, the disposal of the shares was made on the same day that Bursa Malaysia had rejected Brahim’s application for an extension of time to submit its regularisation plan, which resulted in a slump in the company’s share price.
On April 8, Brahim's announced that Bursa had rejected its application and that its share would be suspended and subsequently delisted. The company had previously stated its intention to appeal against the bourse’s decision to delist its shares.
However, Bursa proceeded to suspend the trading of the company’s securities starting April 15, even though the decision on the company’s appeal is still pending.
Brahim's was classified as a PN17 status listed issuer on Feb 28, 2019 after the level of its shareholders’ equity fell below the 25% threshold.
For the financial year ended Dec 31, 2021 (FY21), Brahim's narrowed its net loss to RM12.49 million from RM103.1 million in FY20. Revenue fell 59.29% to RM33.54 million from RM82.39 million in that period.
Brahim’s share was last traded at one sen on April 14, bringing it a market capitalisation of RM3.07 million.
Read also: Brahim's makes last ditch appeal to Bursa to put off delisting action
Brahim's plunges as much as 73.9% on rejection of extension to submit regularisation plan
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This is not shocked. Institution will run as fast as they could when the company has serious problem. Tabung Haji was just too slow to react, mirroring their investment performance
brahim now with three musketeers,........ibrahim, focus, choo,.......don`t know they have enough strength to save the company,.......combine stake about 40%,.......look like tabung haji not interested in saving the company,........ i wonder who are the new buyers,.........such a big volume transacted,.........about 60% of brahim shares
I’m not knowledgeable with shares. I bought Brahims at high price 0.91. Bought 100 thousand lots. What do I do now. Is it burnt? Any kind sole please enlighten me on this
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 2904 views | 2 d ago
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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....
8899EL8899
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Posted by 8899EL8899 > 2022-04-16 12:05 | Report Abuse
nobody talk about this brahim anymore,........look like minority shareholders fully disposed off,......who is the buyer at dirt cheap price?