KINSTEEL BHD
KLSE (MYR): KINSTEL (5060)
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Discussions
5 people like this. Showing 50 of 1,503 comments
Perwaja also not bothered to save by government, u think they want to save this smaller private company??
2018-01-03 12:38
Boss privately very rich..company money all sapu into pockets of sons, relatives n cronies.
2018-01-03 12:45
Small shareholders and suppliers teruk, kena kuat kuat kali ini lah, towkay semua ok kaya raya lah
2018-01-03 12:52
Suspended today for failing to submit extension application, delisting off Bursa on 9 Jan. U can check it in Bursa. Share.... Zero value.
2018-01-05 08:51
yes GONE!
kinsteel was the White Knight that came to rescue Perwaja..... unfortunately this White Knight also got killed along side Perwaja
2018-01-05 17:44
too bad Kinsteel no hot shot big investor like Koon Yew Yin, who can give dedak to Bursa/SC to stop delisting macam Xingquan.
2018-01-05 17:45
so if xingquan relist again u e-mail to bursa and sc lah say why can relist.once I bought tadmax warrants seek to change to new warrants but didn't get approval. sc stated tadmax a loss making company,but after expired and curi my money,now tadmax loss more but sc can approve rights and new warrants......betul betul DEDAK
2018-01-05 18:15
already been warned when traded at 4cts,sc should delist this stock long ago so the director won't dump all to the retails
2018-01-06 23:11
@apolloang kor
thats why i dont feel comfortable with punting on lion ind and decide on southern steel. safer with a strong backer.
2018-01-06 23:26
ssteel is a good potential stock.i also no luck in this stock. 2times I didn't manage to buy cos I put too low to buy when it crash down 2 times about a few months back at below 1.60 and recently down until 1.97.
2018-01-06 23:30
me no luck in steel stocks,in 2008 I bought 200,000 kinsteel at 85cts and sold at 60cts only,but I luckier on aluminium and caning stocks such as LBalum,alcom and kian joo.
2018-01-06 23:32
my luck is also not that good in metal stocks.
i bot pmetal ard 1.3 after exercise and sold at 2. now look at how much it is now, really is bang balls.
2018-01-06 23:50
kpj,hapseng,pmetal,penta,kesm,sam,huaan,inari.....all should have make a lot but what to do tengok ada makan tak ada.
2018-01-06 23:57
kpj and hapseng should hv make a lot but when to honeymoon.when back both up liao no wanna buy.pmetal and kesm sold to early,sam too illiquid for me to buy when low time,huaan make 50k and sold off cos miss the 4d a few months ago.miss by 1 digit,if kena then hentam it.and inari wanna buy but saw fren throwing a lot no buy
2018-01-07 00:02
inari was something i held since 2013/14.
last yr, i missed out on puc, huaan and aemulus becos i was not confident enough to punt in. really is regretting.
but lucky still made from hibiscus and bioosmo. bot at 20 but shldnt have sold most of my hibiscus at 60sen at end last yr, now is also bang balls.
2018-01-07 00:41
aemulus when I wanna buy only 15cts,one of my fren told me the office is only rented,no assets,the director formerly low life and stayed in apartment only.after heard what he told me I change my mind to buy.
2018-01-07 00:59
Kinsteel Bhd’s new regularisation plan involves a proposed debt restructuring scheme for its RM800.0 mln outstanding borrowings to bankers, while courting new investors to inject fresh funds into the group. The group has submitted its regularisation plan to Bursa Malaysia, which is pending approval. (The Edge Daily)
2018-01-16 13:27
announcements made by the Company on 23 October 2017, 25 October 2017, 27 December 2017, 28 December 2017 and 9 January 2018 on the subject matter refer.
The Board of Directors of the Company wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 5 February 2018 informed that after due consideration of all facts and circumstances of the appeal submitted by the Company to Bursa Securities on 4 January 2018 had decided to grant the Company an extension of time until 30 June 2018 to submit its regularisation plan to the relevant authorities for approval (“the Extended Timeframe”) provided that the Company makes the Requisite Announcement by 31 March 2018.
Bursa Securities further decided to de-list the securities of the Company from the Official List of Bursa Securities pursuant to Paragraph 8.04 of the Main LR in the event:-
(i) the Company fails to make the Requisite Announcement on or before 31 March 2018;
(ii) the Company fails to submit the regularisation plan to the relevant authorities for approval within the Extended Timeframe i.e. on or before 30 June 2018;
(iii) the Company fails to obtain the approval for the implementation of its regularisation plan and does not appeal within the timeframe [or extended timeframe(s), as the case may be] prescribed to lodge an appeal;
(iv) the Company does not succeed in its appeal; or
(v) the Company fails to implement its regularisation plan within the timeframe or extended timeframe(s) stipulated by the relevant authorities.
Upon occurrence of any of the events set out in paragraphs (i) to (v) above, the securities of the Company shall be removed from the Official List of Bursa Securities upon the expiry of two (2) market days from the date the Company is notified by Bursa Securities or on such other date as may be specified by Bursa Securities.
This announcement is dated 5 February 2018.
2018-02-05 22:15
Refer to latest announcement to Bursa... Liquidator appointed by high court.
2018-02-23 11:14
Page 5, Star Search Central (today). Court notice.. Liquidator announced. End of it.
2018-04-13 10:55
Kinsteel creditors approve proposed scheme of arrangement
December 19, 2019 14:11 pm 08
KUALA LUMPUR (Dec 19): Troubled steelmaker Kinsteel Bhd's scheme creditors have approved a proposed scheme of arrangement (SOA) that paves the way for the company to exit its Practice Note 17 (PN17) status.
The SOA was approved at a court-convened meeting on Dec 13, said the group in a filing to Bursa Malaysia today.
Kinsteel will now submit an application to the High Court for the outcome of the meeting to be sanctioned through a court order.
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However, the company has amended its proposed regularisation plan, by offering its corporate guarantee holders RM25 million worth of irredeemable convertible preference shares (ICPS) and RM25 million worth of redeemable convertible preference shares (RCPS), instead of RM5 million worth of RCPS as stated in its Sept 24, 2019 Bursa announcement.
The SOA involves total liabilities of RM1.68 billion as at June 30, 2017, of which financial institutions hold RM815.2 million or 48.5%, while corporate guarantee holders are owed RM865.6 million or 51.5%.
It is part of a broader regularisation plan that involves disposal of properties, share consolidation and other fundraising exercises.
"This marks a key milestone for Kinsteel to move ahead with its plans to exit from the PN17 status, following the release of the requisite announcement on the proposed regularisation scheme via its appointed principal adviser, M
2019-12-19 21:34
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