KLSE (MYR): PASUKGB (0177)
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15,071 comment(s). Last comment by whistlebower99 1 month ago
Posted by Good123 > 2024-04-10 14:23 | Report Abuse
would pasukhas declare a huge loss due to such fraud as a major shareholder of meridian?
Meridian's auditor raises doubts over company's ability to go on as a business entity
NST Wed, Apr 10, 2024 12:32pm - 1 hour
KUALA LUMPUR: Meridian Bhd's auditor have raised concerns regarding the continued viability of Meridian Bhd as a business entity.
In its recent filing with Bursa Malaysia, the property developer's external auditor, Messrs Jamal, Amin & Partners, issued a disclaimer of opinion on the group's annual audited financial statements for the period spanning from July 1, 2022, to Nov 30, 2023.
The auditors pointed out a lack of compelling evidence to support the directors' claim that it can sustain its operations.
Despite Meridian's financial statements assuming ongoing operations, a range of significant uncertainties, such as recurring losses, inadequate cash reserves, legal proceedings, and regulatory hurdles, cast doubt on the validity of this assumption.
The auditors highlighted that over the past three financial years, both the group and the company have incurred substantial net losses. Meridian reported a net loss of RM17.27 million, while the company's net loss reached RM90.98 million, raising concerns about the company's financial health and sustainability.
Negative indicators such as current liabilities exceeding current assets by RM4.935 million were also highlighted in the financial statements.
Furthermore, the group's cash reserves are alarmingly low, with bank overdrafts exceeding the credit limits granted by financial institutions.
Significant tax liabilities totaling RM4.56 million, along with RM4.89 million in tax penalties from the previous financial year, have also been noted. Legal action has been initiated by tax authorities to recover these balances, but the proceedings remain ongoing and unresolved.
"We have not been able to obtain sufficient appropriate audit evidence in respect of the estimates and assumptions made in the cash flow projections prepared by the management. Accordingly, we are unable to obtain sufficient appropriate audit evidence to support the validity of the going concern assumptions adopted by the directors in preparing the financial statements of the group and of the company," the auditors said.
Meanwhile, the auditors highlighted that certain investment properties and inventories, collectively referred to as "the properties," with a total carrying amount of RM50.43 million, representing 28 per cent of the total assets of the group, are still registered under a former subsidiary company, despite its disposal.
The transfer of titles for these properties to the group has not been completed, complicating matters further due to the former subsidiary's winding-up process, the auditors said.
"Included in the term loans of the group is an amount of RM2.974 million, where we were unable to confirm the amount and the existence of the term loan, and we were unable to obtain any other audit evidence relating to the accuracy and the existence of the term loan.
"Accordingly, we are unable to determine whether potential adjustments are necessary, if any, and whether the group is obliged to settle the term loan," they said.
The auditors added that the combined impact of these factors casts significant uncertainties regarding Meridian's ability to continue operating.
Meridian has been classified as a Practice Note 17 (PN17) company, having triggered the PN17 criteria of the Main Market of Bursa Malaysia due to its minimal operational activity.
The developer has expressed its intention to formulate a regularisation plan to address its PN17 status, while Bursa Malaysia said it will continue monitoring the company's progress in complying with the Main Market listing requirements.
Posted by Good123 > 2024-04-10 14:24 | Report Abuse
really silap labur duit lebur hehe top 5 largest shareholders of Meridian facing fraud hehe
THIRTY (30) LARGEST SHAREHOLDERS AS AT 7 OCTOBER 2022
(BASED ON RECORD OF DEPOSITORS)
No. Name of Shareholders No. of Shares Percentage (%)
1. AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. 190,000,000 21.01
EXEMPT AN FOR LAZARUS SECURITIES PTY LTD
2. LIM KON LIAN 150,695,909 16.67
3. UOBM NOMINEES (TEMPATAN) SDN BHD 32,500,000 3.59
EXEMPT AN FOR SANSTON FINANCIAL GROUP LIMITED
4. LEE KOON WENG 31,130,000 3.44
5. PASUKHAS PROPERTIES SDN BHD 29,941,600 3.31
Posted by Good123 > 2024-04-10 14:26 | Report Abuse
Joe holds or a major shareholder of pasukhas would dive on friday... wait n see yah
Posted by Good123 > 2024-04-11 19:50 | Report Abuse
Buatlah yg sama di Malaysia
https://www.nst.com.my/world/region/2024/04/1036896/vietnam-tycoon-sentenced-death-12-billion-fraud-case-state-media
Posted by Good123 > 2024-04-23 08:37 | Report Abuse
SC mau tangkap, kerajaan madani terhebat
KUALA LUMPUR: Lim Kok Boon, a former chief executive officer of GW Plastics Holdings Bhd, and a friend have been ordered to pay a total of RM2.01 million.
The High Court on Monday ruled in favour of the Securities Commission (SC) in an insider trading civil suit filed against Lim and Cheah Mean Har.
Lim was the CEO and non-independent executive director of GW Plastics at the material time.
High Court judge Adlin Abdul Majid ordered Lim, 66, and Cheah, 47, to each pay the SC RM142,500 disgorgement, which is three times the profits gained by Cheah as a result of the insider trading breach.
Lim and Cheah were also required to pay a civil penalty of RM1 million and RM500,000 respectively the SC said in a statement.
Additionally, the court ordered Lim and Cheah to pay costs of RM200,000
and RM30,000 respectively to the SC.
Lim is also barred from being appointed as a director of a public listed company for a five years beginning from the date of the court judgment on April 22 this year.
The High Court found that Lim had breached section 188(3)(a) of the Capital Markets and Services Act 2007 (CMSA) when he communicated material non-public information to Cheah.
Cheah subsequently acquired GW Plastics shares on Sept 25 2017 and Sept 27 2012, and was found liable by the High Court for a breach under section 188(2)(a) of the CMSA.
"The material information was in relation to a proposed share sale agreement between GW Plastics and Scientex Packaging Film Sdn Bhd and a proposed distribution of the cash proceeds arising from the share sale agreement to the shareholders of GW Plastics.
"The information was announced by GW Plastics to Bursa Malaysia on Oct 3 2012. This decision serves as a strong deterrent against insider trading, signifying the SC's resolve to uphold market integrity," the commission said.
It added that the joint accountability of the corporate insider and the trader underscores the SC's commitment to address market misconduct and
abuses that can affect the integrity of the capital market.
Both Lim and Cheah had filed an appeal against the High Court judgment on Monday.
Posted by Good123 > 2024-04-24 15:55 | Report Abuse
MB's son among six remanded over document forgery, false claims involving RM600,000
TheEdge Wed, Apr 24, 2024 03:33pm - 20 minutes
KANGAR (April 24): The son of a menteri besar is among six individuals remanded by the Malaysian Anti-Corruption Commission (MACC) here to assist in investigations regarding a case of submitting false documents and claims involving RM600,000 over the past two years.
Magistrate Ana Rozana Mohd Nor granted the remand order for all suspects from Wednesday to Thursday, following a request from the MACC to conduct investigations under Section 18 of the MACC Act 2009.
According to sources, two civil servants from the MB’s Office and the State Secretary's Office were also detained, along with contractors and owners of various companies.
“The suspects are believed to be owners of companies, contractors, and civil servants in the State Secretary's Administration Office and the Perlis MB’s Office.
“All six suspects, aged between 26 and 37, were detained in Perlis between 7am and 8am yesterday (Tuesday),” he said.
He said the case is being investigated relating to document forgery in making false claims when the project in question was not carried out. The project involved maintenance, repair, supply, and service works starting from 2022 until now, estimated to be worth RM600,000.
Meanwhile, in Putrajaya, a senior director of the Special Operations Division of the MACC, Datuk Azmi Kamaruzaman, confirmed the arrest.
Posted by Good123 > 2024-04-29 16:20 | Report Abuse
ceo dah cabut hehe
Change in Principal Officer
PASUKHAS GROUP BERHAD
Date of change 22 Apr 2024
Name MR WAN THEAN HOE
Age 55
Gender Male
Nationality Malaysia
Type of change Resignation
Designation Chief Executive Officer
Reason
Personal reasons
Posted by Good123 > 2024-04-29 16:21 | Report Abuse
auditor juga cabut hehe
OTHERS PASUKHAS GROUP BERHAD ("PASUKHAS" OR "THE COMPANY") - RESIGNATION OF AUDITORS
PASUKHAS GROUP BERHAD
Type Announcement
Subject OTHERS
Description
PASUKHAS GROUP BERHAD ("PASUKHAS" OR "THE COMPANY") - RESIGNATION OF AUDITORS
The Board of Directors of Pasukhas ("Board") wishes to announce that the Company had on 25 March 2024 received a notice in writing dated 25 March 2024 from Messrs. UHY ("UHY") of their resignation as the Auditors of the Company pursuant to Section 281 of the Companies Act 2016.
The resignation of UHY is a voluntary resignation due to the constraint of its resources. Further, the Board also wishes to inform that the Company is not aware of any other matters that need to be brought to the attention of the shareholders of Pasukhas.
The Company is in the midst of identifying new Auditors and further announcement on the engagement of new Auditors will be made by the Company in due course.
This announcement is dated 25 March 2024.
Posted by Good123 > 2024-05-02 13:42 | Report Abuse
tengok ada sesiapa masuk jel macam najib kelak tak hehe
Posted by JJPTR > 2024-05-03 09:45 | Report Abuse
Avoid recently 30:1 type of counters. It is PUMP TO DUMP by downsizing the NOSH. Once you are traped, new 1 billion toilet papers will be issued via PP/RI/ESOS. And the share price will drop from 20c to 1c AGAIN after 1 yr. The bad kokperate habits of printing toilet papers is still rampant. Vsolar is propsing to print another 336m of toilet papers again
Posted by 651158 > 2024-05-03 09:49 | Report Abuse
get profit faster run lo see another round
Posted by Good123 > 2024-05-10 05:45 | Report Abuse
Tak boleh elak selamanya hehehe
https://focusmalaysia.my/man-who-evaded-the-law-for-15-years-charged-with-securities-fraud/
Posted by Good123 > 2024-05-10 15:46 | Report Abuse
Posted by Good123 > 2024-05-16 15:31 | Report Abuse
https://www.klsescreener.com/v2/news/view/1270735/allegations-of-insider-trading-surface-at-mgrc
Posted by Good123 > 2024-05-22 16:58 | Report Abuse
greed can make anyone broke. Avoid being greedy
@JJPTR
Avoid recently 30:1 type of counters. It is PUMP TO DUMP by downsizing the NOSH. Once you are traped, new 1 billion toilet papers will be issued via PP/RI/ESOS. And the share price will drop from 20c to 1c AGAIN after 1 yr. The bad kokperate habits of printing toilet papers is still rampant. Vsolar is propsing to print another 336m of toilet papers again
2 weeks ago
Posted by Good123 > 2024-05-28 20:10 | Report Abuse
Tangkap1 by 1 hehe
Bursa Malaysia reprimands, fines former executive director of Advance Information Marketing https://www.thestar.com.my/business/business-news/2024/05/27/bursa-malaysia-reprimands-fines-former-executive-director-of-advance-information-marketing
Posted by whistlebower99 > 1 month ago | Report Abuse
FOR NEWBIES
HARVEST MIRACLE CAPITAL BERHAD (HM) is the latest high NOSH penny stock proposing share consolidation followed by massive fund raising via share issuance to RI.
This announcement is dated 15 July 2024.
================
List of high NOSH penny stocks with shares consolidation :-
2024 in progress - HM, MQTECH, XOX, VIZIONE, KGROUP
2024 completed - DESTINI, AEM, AT, FINTEC, TECHNAX, MLAB, BPURI,
2023 completed = JOE, ICON, MMAG, KOMARK, GOCEAN, AIM, DOLPHIN, DGB, VSOLAR, MERIDIAN, PASUKGB, EDUSPEC
2022 - YONGTAI, DIGISTA, MTRONIC, AGES, IDMENSN, KANGER, AAX, LKL, MNC, NEXGRAM, IMPIANA, FAST
BEFORE 2022 - PWORTH, PDZ, LAMBO, PASUKGB, MTOUCHE, SANICHI, VC, TRIVE, VINVEST, ICON, MLAB, NETX,.........
Retail investors trapped at high price incurred huge losses caused by share consolidation
Posted by whistlebower99 > 1 month ago | Report Abuse
FOR NEWBIES
Announced EX Date Subject Ratio Offer
03 Apr 2023 17 Apr 2023 Share Consolidation 1.0000 : 10.0000
04 Jun 2021 18 Jun 2021 Rights Issue (warrant) 6.0000 : 1.0000 0.1000
25 May 2021 09 Jun 2021 Share Consolidation 1.0000 : 10.0000
27 Mar 2017 06 Apr 2017 Rights Issue 1 : 1 0.1000 View
Multi year losses
https://www.klsescreener.com/v2/stocks/view/0177/pasukhas-group-berhad
Check P/L and Capital Changes
=====================
NOSH = 190,529,247 after share consolidation in Apr 2023
Expect directors to restart and continue massive fund raising via shares issuance to PP, ESOS, RI, asset acquisition, etc
Expect NOSH to increase and shareholder equity % and EPS to be diluted with massive share issuance in near future
==================
Continue to monitor
quarterly results
directors plan for utilisation of company funds
directors plan for more fund raising via shares issuance to PP, ESOS, RI , asset acquisition, etc
===========
Expect Cindy Kate to play the price to attract & trap newbies, punters, fomo oldbies etc
No result.
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CS Tan
4.9 / 5.0
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....
Good123
25,305 posts
Posted by Good123 > 2024-04-03 06:08 | Report Abuse
Next, pasukhas ka? hahaha https://www.klsescreener.com/v2/news/view/1303483/macc-to-charge-casio-king-robert-tan-over-rm4-5b-spanco-deal-tomorrow