Posted by Rajankumar > 1 hour ago | Report Abuse Finally, Awantec won the legal dispute with GOM. This is the best outcome for Awantec. With an amount of RM231 Million + RM58 million (5% interest for 5 years), Awantec can be moving ahead.
agree and how about the listing issue bro Rajankumar?
Those that panic sold after lunch...pls continue to sell..i wld like to pickup more below 40sen. If you looked at the bigger picture of projects awarded and the compensation they are receiving. They are in a very good position... much better than CapitalA tat ppl r paying a premium for it
personally, i think RM700mil++that Awantec set earlier was just one kind of art of negotiation imagine what will Awantec get if the compensation amount set was RM500mil or lower
Exactly...after settling all their long term liabilities..still ada Rm50mill free cash from the compensation. Dont understand what all this hoohaa is abt...
Really suspended after win the battle about SKIN compensation RM232 milion...market capital Awantech almost RM400 milion...the really share price between 0.60 cent till 0.80 cent.
The GOM just pay the compensation 231m for the ongoing job.. i think 700m the damage of breach contract, GOM will pay through new projects to Awan. you see already 2 projects awarded to awan.. soon more to come
Tak tau apa nak cakap lagi . Menang dekat 300 juta campur interest pun jatuh . Pertama kali saya kecewa dgn counter ini . Project ada duit ada . Lawan GOM bukan senang tapi pun menang . Amount pun ok . Pas menang jatuh 15 sen . Dari 55 sen sampai 40 sen . Haizzzzzz
Type Announcement Subject PARAGRAPH/RULE 8.03A COMPANIES MONTHLY ANNOUNCEMENT Description AWANBIRU TECHNOLOGY BERHAD ("AWANTEC" OR "THE COMPANY") - MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARISE THE FINANCIAL CONDITION OF THE COMPANY PURSUANT TO PARAGRAPH 8.03A OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS We refer to our first announcement dated 29 January 2021 and subsequent announcements in relation to the Company triggering the prescribed criteria pursuant to Paragraph 8.03A 2(a)(aa) of Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”).
We had on 13 October 2023 announced that Bursa Securities had, vide its letter dated 13 October 2023, granted the Company an extension of time of 6 months up to 13 April 2024 to submit its regularisation plan to the relevant regulatory authorities for approval.
The Company has approximately 1 month to submit a regularisation plan to the relevant regulatory authorities for approval and will make the relevant announcement in relation to its latest development in accordance with the requirements under Paragraph 8.03A of the Listing Requirements.
I think major shareholder dump the share in market, bcos they scare Awantec will suspend after failing to submit the regularisation plan which very near soon.
NYLEX is good example. NYLEX suspended after failing submit the regularisation plan. Even Nylex made appeal and successful get extension, but Nylex share trading still suspended. Dun know Awantec will facing such problem or not.
RP tu is the LEAST WORRY krn karang Awantec udah ada beberapa project dalam tangan from GOM dan juga 1 besar punya dari Red Tone . Dan duit pun ada utk settle kat creditor . The worst is over . Tapi pun jatuh . Market ini menang amat amat amat susah menang duit .
generally its win. winning against GOM is not easy + now getting huge projects. look at future lor.. hopefully the company will get the Affected Listed Issuer out soon.
When Immigration cancelled the SKINS contract in 2019, share price of Prestariang (now known as Awantec) fell to around 0.10 sen. Thereafter the price had a steady recovery. In November 2020, Prestariang allocated Rights at 0.20 sen per unit with free warrants. By December 2020, you could sell those warrants attached above 0.70 sen. Likewise, you could sell the mother stock at above Rm1.20 in March 2021. Why did the price dropped like a rock and then had an astronomical high? Market manipulators at work, I believe. These unscrupulous market manipulators saw an opportunity to profit because they had the money to manipulate the market. There is no logic behind such gyrations of share price. Surely Awantec cannot be so badly managed until it is worthless. Awantec was a victim of politicians who punished the company just to get back at their political opponents. Events now unfolding with one party fleeing the country after SKINS cancellation and the awarding of a new immigration contract (now also cancelled) shows what can happen when there is a change of government. I will not sell my Awantec shares at such low prices to unscrupulous market manipulators. Just ask yourself, should the price be so low after winning a court case. Yes, opportunity cost and holding cost for Awantec may not have been factored in by judge during judgement but the award given is no chicken feed either. Awantec can now move forward, they have the cash to venture into other lucrative areas. But never allow market manipulators to cloud your judgement. Hold on to Awantec shares until better times.
Awantec will be debt free with this 231mil compensation from gov and in healthy balance position. moving forward.. Awantec will focus to grow the company business MyGovUC3.0 and NAHRIM projects. more projects will come soon ..
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
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 3006 views | 2 d ago
0:17
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....
rob8ry24
112 posts
Posted by rob8ry24 > 2024-03-14 14:48 | Report Abuse
catch limit down