Posted by Michael Kwok > 2019-11-24 17:59 | Report Abuse

Please read.Anzo first at 3 cent.Ikhmas Jaya later.

Posted by Michael Kwok > Nov 15, 2019 9:12 PM | Report Abuse X

5-6 cents can.I prefer Anzo. Different is Anzo balance sheet on look quite clean.Ikhmas look going from bad to worst due to cost overrun and law suit(many).Prefer Anzo

Posted by flexibt > 2019-11-25 19:05 | Report Abuse

One more solved.


MATERIAL LITIGATION IKHMAS JAYA GROUP BERHAD DALAM MAHKAMAH TINGGI SHAH ALAM WRIT SAMAN NO: BA-22NCVC-378-09/2019 SYARIKAT LOGAM UNITRADE SDN BHD (the Plaintiff) vs 1. IKHMAS JAYA SDN BHD (IJSB OR THE 1ST DEFENDANT) 2. IKHMAS JAYA GROUP BERHAD (IJGB OR THE 2ND DEFENDANT)
IKHMAS JAYA GROUP BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description IKHMAS JAYA GROUP BERHAD

DALAM MAHKAMAH TINGGI SHAH ALAM WRIT SAMAN NO: BA-22NCVC-378-09/2019
SYARIKAT LOGAM UNITRADE SDN BHD (the Plaintiff) vs
1. IKHMAS JAYA SDN BHD (IJSB OR THE 1ST DEFENDANT)
2. IKHMAS JAYA GROUP BERHAD (IJGB OR THE 2ND DEFENDANT)
Further to the announcement dated 6 September 2019, the Board of Directors of IJGB wishes to announce that the 1st defendant had on 22 November 2019 entered into a Settlement Agreement with the Plaintiff for the settlement of the balance of the amount owing by the 1st defendant of RM10,939,431.36 to the Plaintiff as at 31 October 2019 (“Outstanding Sum”) and the continuing additional late payment charges and additional back-charges for scaffolding supplied, the latter which amounts to RM429,706.50.



The settlement of the amount owing will be made partly in cash and in kind by the transfer of an equivalent of 8.46 square feet service apartments in Damai 88 valued at RM1250 per square foot for an amount of RM10,575,000.00.



Please refer to the attachment for further information.



This announcement is dated 25 November 2019.

Posted by TrendLai > 2019-11-25 21:39 | Report Abuse

Who's the developer for Damai 88, how many apartments Ijsb own??

Posted by Peter2357 > 2019-11-26 18:57 | Report Abuse

so far i check in FY 2018 audited ac, Ikhmas owns 5 units of Condominiums Damai 88.
More units coming soon as part of the settlement pending court case.

Posted by Peter2357 > 2019-11-26 19:05 | Report Abuse

Ikhmas Jaya was listed in 2015 at an offer price of 57 sen
It is a piling specialist construction and there are only a few of these highly expertise companies in Bursa.
It’s involved in bridges highways LRT etc.
Preesently it has total job contracts of more than Rm 800M in hand .
Though it has a number of legal cases pending,
it has managed to settle quote a few during the last few months.
I beleive it will make a comeback.

Posted by TrendLai > 2019-11-27 21:53 | Report Abuse

Any progress from AJ design?? this help .

Posted by Superb99 > 2019-11-28 11:56 | Report Abuse

speechless....

Posted by leekokshen > 2019-11-29 21:47 | Report Abuse

In Chinese way, their QR is very Ong...Can shareholder vote to potong Director's salary?

Posted by flexibt > 2019-11-29 22:24 | Report Abuse

from QR

Ikhmas Jaya Sdn Bhd (“IJSB”) (“Plaintiff”) vs DJ Design & Suppliers (“Defendant”).
Kuala Lumpur High Court Writ of Summons (“Writ”) No. WA-22NCVC-394-06/2019.


The Court had fixed the matter for case management on 6 September 2019. The case had
been adjourned to 30 October 2019. Due to the circumstance that the Defendant had been
adjudged wound up on 5 August 2019; the Plaintiff had to withdraw the legal suit against the
Defendant.

IJSB’s solicitors are now preparing to file in the proof of debt with the Official Assignee (“OA”)
of the Defendant whilst at the same time working with the Defendant’s banker to release the
Damai 88 properties free from encumbrances to IJSB of which is targeted for completion by
end of December 2019



+ve info

Posted by Mabel > 2019-11-29 23:49 | Report Abuse

@leekokshen In Chinese way, their QR is very Ong...Can shareholder vote to potong Director's salary?
29/11/2019 9:47 PM

We should !

FGV Revenue this quarter is RM 3,549,245 CEO takes 50% cut
Ikhmas Revenue this quarter is RM 62,290

How much do you think we should cut their salary?

Posted by leekokshen > 2019-11-30 11:02 | Report Abuse

Hi Mabel, think you have to add another 3 zeros to Ikhmas figure, so we're talking about 62 mil revenue this Q, And net loss of 15 million this Q and total 9 months accumated nett loss of 95 millions. Just imagine that....and piles of lawsuits along the way. If I'm correct, their director fees is about 500k to a million. Is it fair to pay someone that kind of fees for a money losing company?
Just think about it. Would you give contract to a company who owed money everywhere?
Very sad to see this. If can vote to reject director fees think I'll go for that.

Posted by Superb99 > 2019-12-01 04:27 | Report Abuse

Longkang counter

Posted by Mabel > 2019-12-01 23:12 | Report Abuse

@leekokshen Hi Mabel, think you have to add another 3 zeros to Ikhmas figure, so we're talking about 62 mil revenue this Q, And net loss of 15 million this Q and total 9 months accumated nett loss of 95 millions. Just imagine that....and piles of lawsuits along the way. If I'm correct, their director fees is about 500k to a million. Is it fair to pay someone that kind of fees for a money losing company?
Just think about it. Would you give contract to a company who owed money everywhere?
Very sad to see this. If can vote to reject director fees think I'll go for that.
30/11/2019 11:02 AM

@Mabel @leekokshen In Chinese way, their QR is very Ong...Can shareholder vote to potong Director's salary?
29/11/2019 9:47 PM

Thanks for correcting me lee. My bad. here's the revised figure

We should !

FGV Revenue this quarter is RM 3,549,245,000 CEO takes 50% cut
Ikhmas Revenue this quarter is RM 62,290,000

How much do you think we should cut their salary?

Posted by Mabel > 2019-12-01 23:15 | Report Abuse

Although all of us make our call to buy this earlier. I'm just curious, where are all the promoters?

Posted by Michael Kwok > 2019-12-02 19:14 | Report Abuse

Mabel,please becareful if conman.Maybe my posting scare them away.Please read my posting;

Michael Kwok(Ikhmas)
673 posts
Posted by Michael Kwok > Sep 26, 2019 11:21 AM | Report Abuse X

Will fall to 4.5-5.5 cent.Who call buy its a I idiot.Along the way will up 1-2 cent.


Michael Kwok
905 posts
Posted by Michael Kwok > Nov 15, 2019 9:12 PM | Report Abuse X

5-6 cents can.I prefer Anzo. Different is Anzo balance sheet on look quite clean.Ikhmas look going from bad to worst due to cost overrun and law suit(many).Prefer Anzo

Buy Anzo in Ikhmas blog.
Posted by Michael Kwok > Nov 24, 2019 5:59 PM | Report Abuse X

Please read.Anzo first at 3 cent.Ikhmas Jaya later.

Posted by Michael Kwok > Nov 15, 2019 9:12 PM | Report Abuse X

5-6 cents can.I prefer Anzo. Different is Anzo balance sheet on look quite clean.Ikhmas look going from bad to worst due to cost overrun and law suit(many).Prefer Anzo

Posted by Michael Kwok > 2019-12-02 19:27 | Report Abuse

Sifu must have some kind of consistency.It needs to have quite a lot of accuracy.Some there have few there say there are sifu. Remember Geneva case years ago?

Posted by Mabel > 2019-12-04 12:33 | Report Abuse

Cheers Michael!

Posted by W0099 > 2019-12-06 08:36 | Report Abuse

Sis Mabel I’m still here to stuck at this counter.. lol

Posted by Mabel > 2019-12-11 23:48 | Report Abuse

Same here Wendy...

Fortunately, I have sold half of my holding to cut my losses. My current holding cost is covered by my Plantation Stocks which all did extremely well this quarter. So I have no issues holding this stock.

Anyway, like I said earlier, I plan to give this company until next quarter to see if there's any improvements. Otherwise I will sell off my remaining shares

Cheers Sis !

Posted by Newbiesky > 2019-12-12 08:02 | Report Abuse

still here inside staying inside apartment

Posted by W0099 > 2019-12-12 11:43 | Report Abuse

Cheers Sis Mabel. I’m sorry for last time ask u follow me. ;( I’m still hold 1K Lot. It’s paper lose already 70%. Hope we will see the bright future next quarter sis.

Posted by W0099 > 2019-12-12 11:45 | Report Abuse

Hi Newbiesky!we are in prison now...

Posted by Mabel > 2019-12-12 21:57 | Report Abuse

No issues Sis...

It's not your fault..

I was excited too about this stock due to the ECRL Theme Play...

I will continue to wait until next quarters..

Cheers and take care..

Posted by W0099 > 2019-12-13 11:48 | Report Abuse

Thank you for understanding sis. Overall just that the market is too bad. That’s why most of the stock fallening...

Posted by JN88 > 2019-12-13 20:54 | Report Abuse

The value of this company will appear by this month end.... Trust me.... Time is the name of game

Posted by scjm > 2019-12-16 10:23 | Report Abuse

wendy/mabel howdy....would 7 sen support hold and to subsequently form a double bottom? crossing the pivot high 12.5 with high volume would confirm it and the likelihood would be to fill the gap down at 17.5..in the meantime still under sideways verified by the low trading volume

Posted by freonsf > 2019-12-17 07:32 | Report Abuse

0.085 can whack? Or wait 0.07 again?

Posted by Newbiesky > 2019-12-17 08:36 | Report Abuse

scjm, any advise?

Posted by scjm > 2019-12-17 09:07 | Report Abuse

two choices...1. to buy on breakout ie the pivot high 12.5 then exit 17 or 2. after breakout then wait for the pullback (which might not happen although it usually does) in the meanwhile just wait for that to occur...that is for trading the double bottom pattern
on the other hand if your earlier entry is high you could take the calculated risk to average down at 8 sen and stop loss at 6 sen for this you would have to be very patient and wait
hope that during this waiting period there is NO BAD news which would then derail the entire process
good luck

Posted by Newbiesky > 2019-12-17 09:16 | Report Abuse

thanks alot for the advice. will decide accordingly

Posted by Mabel > 2019-12-17 23:46 | Report Abuse

Noted and thanks for your advice scjm...

From my observation, the number of buyers and sellers have not reduced. It's only the price that has gone down due to bad performance. The Management was and is my biggest concern.

From what I understand, markets have dedicated middlemen called Market Makers who are responsible to make sure that there is always someone to buy or sell; this ensures that all instruments have sufficient liquidity. Market Makers may decide to lower their bid on a stock based on a high number of sellers, or raise their ask for a high number of buyers.

During an investor rush to buy or sell an instrument (perhaps in response to a news release), it's possible for the Market Maker to accumulate or distribute a large number of shares, without end-investors like you or me being involved on both sides of the same transaction.

Hence, if we are dealing with an illiquid stock like Ikhmas, I don't think we have a choice. We just have to put our hat as a trader and trust our animal instinct. Fundamental does not make sense anymore. Otherwise how do you explain a company with 800 Million Contracts are reporting loses?

As a rule of thumb, it is always not advisable to buy into any stocks that is below 100,000 volumes. Fortunately, this is not the case of Ikhmas. The average trading volume for the last 4 weeks is 3.2 times bigger than the minimal threshold. Today, the volume is 8X bigger than the minimal threshold.

So I recon these Market Maker are regulating this stock to keep it warm. Just to give you a flavor, two week ago one of my Plantation Stocks TDM is on P1 among the Plantation counters. It even beats all the expensive Plantation Stocks. You know why there's is a high interest in TDM?. It's is because of ECRL. ECRL will passed through TDM Plantation as it cruises 160 km/h.

I have been holding TDM since early this year and today the price has almost double. So it's just a matter of time when the Market Maker will starts goreng this stock again. All it needs is just one good new to spike it up again.

Ikhmas is still important in my Construction Portfolio. It's the only Construction Stock that has piling capabilities. I decided to go for her because of the ECRL Theme Play rather than ECONPILE which is more expensive. Hence it is still complimentary to my other Construction Stocks like AZRB, Gadang, Gamuda and Ekovest...

Till then....

As JN88 said, just hang on...

Meow!

Posted by W0099 > 2019-12-18 13:27 | Report Abuse

Note it. Thank you scjm for your advices yea..!

Posted by lee_m2020 > 2019-12-19 22:11 | Report Abuse

WOWWW!!!! Only problems are got pending court cases... Otherwise I would not hesitate a BUY CALL. Nevertheless, like VSOLAR, BUY CALL for a longer term gain for sure.. It has huge money to be on the book very soon!!!!!! I for sure will buy tomorrow!!!!

Posted by JN88 > 2019-12-19 22:17 | Report Abuse

The cash flow will come once damai88 coming-90 million......debt 70-80 million....net cash .....

Posted by lee_m2020 > 2019-12-22 12:10 | Report Abuse

Bought...!!!! current price is the bottom floor ...

Posted by lee_m2020 > 2019-12-22 12:10 | Report Abuse

Any movements are only upward...

Posted by lee_m2020 > 2020-01-03 14:45 | Report Abuse

Good News??

Posted by future > 2020-01-04 22:04 | Report Abuse

Ya otw Lee..

Posted by Mabel > 2020-01-14 00:38 | Report Abuse

Wait QR or any good news...

Posted by freddiehero > 2020-01-16 16:15 | Report Abuse

ade hebat mau datang ka?

Posted by oskchoon > 2020-02-06 20:11 | Report Abuse

Can anyone pls tell me is Ikhmas a PN17 counter...

Posted by Mabel > 2020-02-06 21:50 | Report Abuse

I don't think it is a PN17 counter... Not yet..

Let's wait for the upcoming QR..

Posted by kimsean > 2020-02-12 19:50 | Report Abuse

What if next QR is another bomb like the last QR???

Posted by imvu > 2020-02-13 18:24 | Report Abuse

construction sudah buat gerakan yang power

Posted by investortrader88 > 2020-02-13 19:29 | Report Abuse

many construction stocks surged today hopefully ikhmas will follow

Posted by scjm > 2020-02-14 11:40 | Report Abuse

probably some cheering to the staunch supporters with a .price target of 10 sen and if buying momentum is sustained then to test the pivot high 12.5

Posted by W0099 > 2020-02-16 23:15 | Report Abuse

Scjm the contract will complete early 2021.. By that time the company can collect the cash and pay currently debt...

Posted by Mabel > 2020-02-21 15:34 | Report Abuse

Huat ah ! Heng ah ! Ong ah !

Posted by scjm > 2020-02-23 10:04 | Report Abuse

mabel are you a johorean? heng ah huat ah ong ah

Posted by GooShem > 2020-02-23 10:16 | Report Abuse

lol.. pathetic ipo