Posted by Bemillion > 2020-06-10 17:30 | Report Abuse

Presbhd will fight back against bullied for justice in bz... No second George Floyd intimidated by bullier

Posted by Ckk2266 > 2020-06-10 17:33 | Report Abuse

Long candle!

Posted by Tbt95 > 2020-06-10 17:35 | Report Abuse

Wow tomorrow fly loh

Posted by Tbt95 > 2020-06-10 17:35 | Report Abuse

PUTRAJAYA (June 10): The government has lost its bid at the Court of Appeal to have Prestariang Bhd's RM733 million legal action be converted from an originating summons (OS) into a writ.

Posted by Bemillion > 2020-06-10 17:38 | Report Abuse

Yes...god is great

Posted by newbe > 2020-06-10 17:43 | Report Abuse

PUTRAJAYA (June 10): The government has lost its bid at the Court of Appeal to have Prestariang Bhd's RM733 million legal action be converted from an originating summons (OS) into a writ.

Prestariang filed the action to claim the amount from the government in 2019 following the termination of the national immigration control system (SKIN) project.

An OS is a simpler and swifter method to resolve legal disputes as it would be determined based on affidavits filed, as compared to a writ where it is a civil action involving substantial disputes of fact and normally witnesses would be called to court to testify and be cross-examined by the other side.

With the appeals court's decision today to dismiss the government's application, the matter will proceed for trial at the High Court in Kuala Lumpur from July 1 to 3.

"The bench is unanimous that there is no merit in the appeal. The appeal is dismissed," said Justice Datuk Lau Bee Lan.

The other members on the bench were Justices Datuk Lee Swee Seng and Datuk Hadhariah Syed Ismail.

The court also ordered the government to pay RM2,000 in costs to Prestariang.

Senior federal counsel Abdul Hanir Hambali told the court that the government was disputing the entire amount in the formula calculated by Prestariang, and as such it was appropriate that the OS be converted into a writ when the matter goes on trial.

"The formula [of calculating damages in Prestariang] is not acceptable as it does not test on work done," he said, stressing that the quantum sought was unreasonable according to that formula.

"The amount is exorbitant and in our view it constitutes a penalty [on the government]. For this reason, we would be calling our expert witnesses and also we would like to cross-examine their witnesses," he added.

Prestariang's counsel Datuk Lim Chee Wee said liability in this case was undisputed and the rightful quantum was the only issue to be determined.

"The quantum can be assessed based on affidavit evidence with cross-examination if necessary. We are allowing our witnesses to be cross-examined and hence there is no reason to change into a writ," he added.

Citing case laws in a Singapore case, Lim said alleged disputed facts alone were not enough for conversion from an OS to a writ.

He submitted that there was no error in the High Court judge's decision.

Prestariang had filed its suit through its unit Prestariang SKIN Sdn Bhd. The amount sought was based on the contractual formula provided for in the concession agreement (CA).

Prestariang decided to file the suit as the two sides were unable to reach an agreement on the quantum to be paid by the government after engaging in a few rounds of negotiation.

Prestariang SKIN secured the RM3.5 billion SKIN project in August 2017 from the previous Barisan Nasional government. The project involves a 15-year concession to design and maintain a new immigration and border control system.

On Dec 10 last year, the Pakatan Harapan government announced that the Cabinet had decided to scrap the project in favour of a new system that would save government funds.

The concession involved a three-year build and deployment phase and a 12-year maintenance and technical operation phase. Payment by the government to Prestariang SKIN was to commence upon the full commissioning of the system with an average annual payment of RM294.7 million.

"Prestariang wishes to reiterate [that] its unit has never defaulted on the CA. Despite the agreement for a 15-year concession, the government unilaterally terminated the CA by way of expropriation, which took effect on Jan 22, 2019. Prestariang SKIN strongly believes that the CA was fair and reasonable," the group said in a statement when it filed the suit.

Posted by newbe > 2020-06-10 17:45 | Report Abuse

so.......tomorrow shall we ???????

Posted by Cikam > 2020-06-10 17:47 | Report Abuse

Actually already in..tomorrow flyyyy

Posted by newbe > 2020-06-10 17:49 | Report Abuse

hahaha...good

Posted by Redplanet > 2020-06-10 17:59 | Report Abuse

No more SKIN project, but RM733 in pocket what a good deal

Posted by Ckk2266 > 2020-06-10 18:05 | Report Abuse

https://www.theedgemarkets.com/article/putrajaya-fails-bid-change-mode-commencing-action-prestariang-suit

Posted by Cikam > 2020-06-10 18:11 | Report Abuse

I think govt will offer back the project to Pres..or granted more projects..out of court

Posted by lee_m2020 > 2020-06-10 18:34 | Report Abuse

with 733 mil or substitution equivalent projects this PRESBHD shall be above RM1.00

Posted by lee_m2020 > 2020-06-10 18:36 | Report Abuse

in a better term, it is likely gov to awards SKIN back to PRESBHD for a good reason. If thats the case, welcome to RM5.00

Posted by Christiano88 > 2020-06-10 18:40 | Report Abuse

Actually is good news or bad news?

Posted by Sinoboy > 2020-06-10 18:43 | Report Abuse

This is excellent news. Guess all that waiting and sweating was worth it, hopefully...

Posted by Ncm88 > 2020-06-10 18:46 | Report Abuse

gap up tomorrow gogogogog

Posted by zerocool7199 > 2020-06-10 19:05 | Report Abuse

Still got anybody miss the ship??my opinion is you dont play share anymore..you are no suitable

Posted by Cikam > 2020-06-10 19:28 | Report Abuse

Still can..share the cake

Posted by cicakman > 2020-06-10 19:57 | Report Abuse

Pay 500 million considered win win.

Posted by nicky > 2020-06-10 20:22 | Report Abuse

Is not a good news. SKIN project still freeze... Presbhd's future prospect still unclear

Posted by Cikam > 2020-06-10 20:39 | Report Abuse

Not good news? Gila ka

Posted by nicky > 2020-06-10 20:46 | Report Abuse

Cikam..sorry if u holding this counter... ..

Posted by Bemillion > 2020-06-10 20:52 | Report Abuse

.Cikam. I think govt will offer back the project to Pres..or granted more projects..out of court
10/06/2020 6:11 PM


If i were presbhd decision maker, i would not accept the trade off you mention... .because gov already behaving like bully brother thinking he/she can hve presbhd for a ride... The best be a good and trusted bz entity, law abiding culture, firm and hve high level of integrity... Favouritism and too much dependable on the other party is not the best practices .

Political hidden hands spoil the ecosystem of bz domain. Emmmm

Posted by Bemillion > 2020-06-10 20:55 | Report Abuse

I can see the sun in presbhd... Even certain quarters trying hard to tarnishef her bz images and her bz credibilities . Go go presbhd ... We re with u...yes

Posted by Bemillion > 2020-06-10 20:57 | Report Abuse

Hepi trading tmrow

Posted by nicky > 2020-06-10 21:12 | Report Abuse

Govnt can appeal anytime....

Posted by AllanTingAS > 2020-06-10 21:32 | Report Abuse

Keep accumulating slowly. Best scenario award the contract, TP > 2.00
Award compensation, the TP will be ~1.00 collecting in stages will be safe.

Posted by dniap > 2020-06-10 22:04 | Report Abuse

I saw some sonic boom at the end.. tmw is boom boom. Msian stock market loves saucy news.:)

Posted by Cikam > 2020-06-10 22:23 | Report Abuse

Be realistic guys..winning 700million in court settlement is not good news? Come onnnn..if they lost to govt..they are going to be paid at all..now they have 700million to pay all the debts and finding new jobs..in term of cash flow, the have money to run the business..to have the SKIN running, it is the best news..but getting court settlement of 700mil, thats not a bad news..it is better jot getting anyhing right?

Posted by Cikam > 2020-06-10 22:32 | Report Abuse

Im not saying this company will go up until rm5 like before but still.

Posted by cicakman > 2020-06-10 22:45 | Report Abuse

Tommorow can have big gap up.
I don't need RM 5.00
RM 1.00 will be ok.
Never taste Limit Up before.

Posted by zerocool7199 > 2020-06-10 23:18 | Report Abuse

Yes my friend..tomoro sure will gap up but havent till limit up yet..wait sometime

Posted by cicakman > 2020-06-11 00:09 | Report Abuse

TqbZerocool,
As long can move few cts is ok cz I wanted to invest for long term.No limit up is ok.

Posted by Notconfused > 2020-06-11 01:44 | Report Abuse

Government not gonna compensate them just like that, the wise decision will be to award them with the project win win

Posted by Cikam > 2020-06-11 02:03 | Report Abuse

Agree!

Posted by Cikam > 2020-06-11 03:37 | Report Abuse

RoboTop is fxxking genius

Posted by Bemillion > 2020-06-11 06:46 | Report Abuse

Yu rite notconfused....but not rite too.... Under the contract agreement CA.... Cleary stipulated in the CA if which ever side or party..as per say breached of contract... The guy or party whom breached the CA is liable to be penalised ......details calculation of the compensation clearly within.... Where to run... In this case Gov blatantly intentionally cross the CA .. ... Whatcever reasons behind gov action. ....is secondary... It just lips services to satisfy certain quarters. But as For Presbhd..she has shareholders interest like us to take care for.... ...

Posted by Bemillion > 2020-06-11 06:53 | Report Abuse

The call is on the Gov...since this blunder .originated
and the Gov triggered it after 2.5 years the project on going or 20% done... Of total 15 yrs as per in the CA.

Everything is smooth running, job avail to rakyat etc...but out of a sudden. .dddooooosh simply broke the CA ..... Just like that... We hve industrial laws and statuory regulations to protect bz entiti fm veing make a ball kick here kick there by another party.... The rule ..the laws abiding is the best practices settling industrial disputes...enmn

Posted by CUTLOST > 2020-06-11 07:22 | Report Abuse

Gd news coming and after this

Posted by nicky > 2020-06-11 07:29 | Report Abuse

An empty shell co.. solely depend on one project to survive...

Posted by nicky > 2020-06-11 07:31 | Report Abuse

Wont be surprise gap up later then pullback... anyway.. i hope i can get out this time tho my cost is RM1.20... damn

Posted by PanjiAlam55 > 2020-06-11 08:02 | Report Abuse

Not yet buy but look steady still monitor tunggu PKP habis sepenuhnya..ada harapan naik tunggu news baru pickup.

Posted by newbe > 2020-06-11 08:38 | Report Abuse

@nicky so you are not expecting the price to go up and it is ok for you to hold presbhd shares @ RM1.20 forever ?

Posted by Cikam > 2020-06-11 08:44 | Report Abuse

Morning guysssss!!!! What is the price today? No show ahhh?

Posted by RoboTop > 2020-06-11 08:52 | Report Abuse

Gap up at opening.....may test 40c today.
Good luck guys!

Posted by Cikam > 2020-06-11 08:53 | Report Abuse

Everybody is waiting to press button buy or sell?

Posted by newbe > 2020-06-11 08:59 | Report Abuse

up trend coming...

Posted by Bemillion > 2020-06-11 09:00 | Report Abuse

Hahaà. Safe trading guys.... Positive discussions.... Say your heart. We re here brother traders.... Gud luck

Posted by nicky > 2020-06-11 09:13 | Report Abuse

Expected... gap up n pull back... what a good news...