Probably, SC will also instruct capital reduction whereby some cash of the company will be refunded to the existing shareholders on a pro-rata basis.



Special Report: New shares without new business will bring more grief than gain
M Shanmugam
The Edge Malaysia

March 30, 2021 17:00 pm

This article first appeared in The Edge Malaysia Weekly, on March 22, 2021 - March 28, 2021.
Special Report: New shares without new business will bring more grief than gain
-A+A
THE secondary market fundraising scene has got off to a roaring start. In January alone, companies raised some RM540 million from placements and rights issues in the equities market.

The pace of fundraising in the secondary market is a continuation from last year, when some RM8 billion was raised even though the economy went into recession. The fundraising was helped by a relaxation in the rules that allows companies to now issue up to 20% of their share capital to raise funds and stay afloat.

Normally, companies are allowed to issue only up to 10% of their share capital, for which approval of shareholders is needed at an annual general meeting. The relaxation to increase the number of new shares to up to 20% was made last April and is in effect until the end of this year.

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In addition to being allowed to issue up to 20% new shares, at a discount of at least 10% to the market price, some companies undertake an additional 30% placement.

A case in point is VSolar Group Bhd, which undertook private placements and rights issues that saw its share base balloon by more than 400% between June last year and January this year. Last week, the company announced a proposal to place out another 30% in an exercise to be done concurrently with a share option scheme for employees involving 30% of the share base.

If the proposals are approved by shareholders, VSolar’s share base will grow 60% from its current size. What is perplexing is that VSolar has been loss-making for the last 12 quarters. Who are the investors taking up the new share issuances? What kind of returns are they expecting other than getting the new shares at a discount to the market price?

As a measure of check and balance, Bursa Malaysia does not allow the new shares to be placed out to existing major shareholders. Towards this end, the list of those buying the new shares is supposed to be vetted by Bursa and, most of the time, the identity of the placee is not known.

If those who take the placement shares cross the 5% threshold, however, they will have to disclose their shareholding to Bursa. It happened in the case of AirAsia Bhd when it placed out 8.9% to Stanley Choi of Hong Kong this month as part of a 20% placement of new shares.

The low-cost carrier placed out another 100.4 million shares in the second tranche of the placement at 86.5 sen each earlier this week. It is not known who took up the new shares. Nevertheless, those who did are sitting pretty on some paper gains.

Moreover, AirAsia has a good franchise and business model, but is in its current predicament because there is no air travel. The same cannot be said, however, of many other companies that undertake placements without bringing about any change to their business fundamentals.

A case in point is Dataprep Holdings Bhd, where half of a 30% placement exercise completed last December went to Tan Sri Muhammad Ikmal Opat Abdullah of Widad Group Bhd. The other half of the placement went to unidentified third parties.

Dataprep is the best-performing stock this year, even though the fundamentals of the company have changed little. Those who took up the placement certainly should not be complaining.

And existing shareholders should cash out of the company because conventional wisdom suggests that placements should be accompanied by an increase in business and profitability. In the Malaysian context, however, when companies issue fresh equity, the share price rises even though the company has no firm plans as to what the funds raised would be used for.

The usual reason given by companies raising funds is that the proceeds are to be used for working capital and seeking new opportunities. Both reasons are vague and give no indication of how they may lead to a substantial improvement in the business of the company.

New shares are dilutive in nature and do not benefit existing shareholders unless the proceeds bring about higher revenue and profitability and enhance shareholder value.

But that does not seem to worry the major shareholders of these companies that are on a fundraising spree. They are probably enjoying the bullish run on the stock.

Moreover, the major shareholders who are also part of management can always control the company through 30% share option schemes.

Retail investors make up 40% of market participants. A time will come when the appetite of these investors will wane. The music will stop, and those holding equity in companies that have undergone major fundraisings will bear the brunt of

Agreed, safer for them to let go than go to jail if proven guilty.

@Good123 Saya sedang menunggu tangan ghaib untuk menghilangkan diri sekarang :)

Mungkin mereka akan dipenjarakan jika didapati bersalah. Jadi , strategi dominan adalah melepaskannya kepada pihak lain :)

Tetap yakin ada pemegang syer terbesar baru akan muncul bila2 masa.
23/04/2021 8:21 AM

Agreed. Like AT, if the workers of MLabs are so cash to subscribe so many ESOSs with so much money, no need to work already, they can become full-time trader/investor, right? :)

Besides share placements, ATS had also undertaken a rights issue of 991.2 million shares to raise RM34.7 million. The proceeds were earmarked for the expansion of its production capacity, repayment of bank borrowings and working capital.

On top of that, ATS has rewarded its employees with share issuance schemes. As at March 10, eligible staff had exercised options amounting to 1.45 billion shares.


@
Good123 Semoga SC Akan membatalkan semua Esos yang dibuat selepas right issue jika didapati bukan dibeli Oleh pekerja sebenarnya dan dll :)
21/04/2021 11:20 PM

https://www.theedgemarkets.com/article/special-report-share-issuances-new-getrichquick-scheme-town#

https://klse.i3investor.com/blogs/kennethvuncarolvun/2021-04-05-story-h1563182432-Kenneth_Vun_s_Money_Game_of_Bursa_Malaysia_Probed_Shield_SANSTON_FINANC.jsp

https://klse.i3investor.com/blogs/kennethvuncarolvun/2021-04-05-story-h1563182432-Kenneth_Vun_s_Money_Game_of_Bursa_Malaysia_Probed_Shield_SANSTON_FINANC.jsp

https://klse.i3investor.com/blogs/kennethvuncarolvun/2021-04-05-story-h1563182432-Kenneth_Vun_s_Money_Game_of_Bursa_Malaysia_Probed_Shield_SANSTON_FINANC.jsp

more and more esos before the confirmation of the date, etc if any

the staff can buy more esos :)


[PASUKGB] ESOS on 12-Mar-2021
Stock [PASUKGB]: PASUKHAS GROUP BERHAD
Announcement Date 12-Mar-2021
Listing Date 15-Mar-2021
New type/class? No
Type ESOS
Details Exercise of ESOS
No. of shares issued 22,737,300
Issue Price Malaysian Ringgit (MYR) 0.040

share consolidation might be able to boost the stock value and the company's prospects. This, quite frequently, attracts new investors to the company and helps resurrect its fortunes.

Should I sell my stock before a reverse split?

Splits are often a bullish sign since valuations get so high that the stock may be out of reach for smaller investors trying to stay diversified. Investors who own a stock that splits may not make a lot of money immediately, but they shouldn't sell the stock since the split is likely a positive sign.

Financing of the Factory Project
On 27 January 2021, Pasukhas Sdn Bhd (“PSB”), a wholly-owned subsidiary of the
Company, accepted a letter of award from Fintec Glove Sdn Bhd (“Fintec Glove”) to
act as the main engineering, procurement and construction (“EPC”) contractor to
design, build and deliver a turnkey glove-manufacturing factory located at Lot 304994,
Jalan Chepor 11/8, Kawasan Perusahaan Seramik Chepor, 31200 Mukim Hulu Kinta,
Daerah Kinta, Perak (“Factory Project”).
Further details of the Factory Project are set out below:-
Details
Project overview Design, build and deliver on a turnkey basis a glovemanufacturing factory of up to 10,000 square metres in builtup area on the project site with the capacity to house up to 14
glove-dipping lines for the sole purpose of manufacturing
medical-grade nitrile gloves
Project site Lot 304994, Jalan Chepor 11/8, Kawasan Perusahaan
Seramik Chepor, 31200 Mukim Hulu Kinta, Daerah Kinta,
Perak, measuring approximately 18,746 square metres with
vacant land
Date of letter of award 27 January 2021
Project owner Fintec Glove
Main EPC contractor PSB
Date of commencement 1 February 2021
Duration No more than 8 months from the date of commencement
Scope of work (i) Design & engineering work;
(ii) Foundation and piling work;
(iii) Construction work consisting building 24-meter-high
enclosed structure steel production space complete
with multi-storey utility area;
(iv) Construction work consisting of building 4-storey
machinery platform cum packing area;
(v) All associated infrastructure work;
(vi) All associated mechanical and electrical works; and
(vii) Project management.
Contract sum RM58,874,916.80
The Group intends to utilise proceeds of RM9.3 million under the Minimum Scenario or
up to RM31.8 million under the Maximum Scenario to part-finance the costs of
development of the Factory Project. The development of the Factory Project is
expected to be done in following stages:
(i) conducting a site inspection which includes land surveying and soil
investigation;
(ii) designing the land and building layout, applying for permits and approvals, and
project planning (including manpower scheduling, determining required
resources and costing);
(iii) constructing earthworks, pilling, and assembling and constructing structural
elements;
16
(iv) building a high enclosed structural steel production space complete with a
multi-storey utility area;
(v) building a 4-storey machinery platform cum packing area; and
(vi) installing utility lines and systems (water supply, sewage, electrical and
telecommunication lines, etc).
(items (i) to (iii) above will be considered as “First Stage of Work Progress” and items
(iv) to (vi) above will be considered as “Second Stage of Work Progress”)
The First Stage of Work Progress has commenced in the first quarter of 2021 and is
expected to be completed in the second quarter of 2021 while the Second Stage of
Work Progress is estimated to commence upon completion of the First Stage of Work
Progress and is expected to be completed in the third quarter of 2021.
The fund-raising exercise from the Proposed Rights Issue with Warrants is expected
to completed in the second quarter of 2021 and therefore will be utilised for the Second
Stage of Work Progress which is estimated to cost PSB approximately RM31.8 million.

Development of Yayasan Project

The Group intends to utilise part of the proceeds to be raised from the Proposed Rights
Issue with Warrants to further fund the development of a mixed commercial
development project comprising service apartment units, commercial offices,
commercial centres and facilities together with carpark lots on a piece of leasehold land
(expiring on 29 August 2116) measuring approximately 5,142 square metres off Jalan
Tun Razak, Kuala Lumpur (“Yayasan Project”).

Details of Yayasan Project
On 9 June 2017, Pasukhas Development Sdn Bhd (“PDSB”) (a wholly-owned
subsidiary of the Company) entered into a joint venture agreement with Yayasan
Veteran ATM (“Yayasan”) for the development of Yayasan Project (“JVA”). Pursuant
to the JVA, PDSB will undertake Yayasan Project as the Yayasan Project owner. PDSB
shall be responsible for undertaking and implementing the entire Yayasan Project on a
total package basis from initial conceptual studies through the detail design and
construction phase to the completion thereof. Further information on the roles and
responsibility of PDSB are set out in the circular to Shareholders dated 20 July 2018.
Yayasan Project is the Group’s first maiden property development project since the
Group diversified into property development on 6 August 2018. Located off Jalan Tun
Razak, Kuala Lumpur, the Yayasan Project has an estimated gross development value
of RM338.0 million. Yayasan Project is estimated to have a gross built-up area of
approximately 644,000 square feet with a net floor area of approximately 355,000
square feet comprising the following:-
(a) 224 units of serviced apartments with built-up areas ranging from
approximately 640 square feet to 4,400 square feet, spread out over 32
storeys;
(b) 1 basement car park comprising 42 car park lots;
(c) an 8-storey podium comprising 2 storeys of commercial centres with a net floor
area of approximately 12,000 square feet and 6 storeys containing a total of
607 car park lots;
(d) 9 storeys of commercial offices with a net floor area of approximately 93,000
square feet; and



(e) facilities including prayer room, multi-purpose hall, meeting room, childcare
centre, kindergarten, laundry, reading room, indoor games room, gymnasium,
computer room, hawker centre, workers’ recreational space, medical treatment
room, taxi-waiting area and other related amenities.
For information, (a), (c) and (d) above are meant for sale entirely to the public (save for
61,000 square feet of office space and a dedicated lobby and reception area of
approximately 1,000 square feet allocated to Yayasan) while the operation of the car
park in (b) and (c) above (save for the 25 car parking bays allocated to Yayasan) is
intended to be outsourced to a third-party operator to be identified. Meanwhile, (e)
above is meant to form the common areas and is not for sale nor rent (save for a 8,000-
square-feet multi-purpose hall and a 2,000-square-feet pre-function room allocated to
Yayasan).
The Company obtained the approval of its Shareholders for the diversification into
property development, following the execution of the JVA with Yayasan, on 6 August
2018. Subsequently, PDSB submitted the development order application for Yayasan
Project to Dewan Bandaraya Kuala Lumpur (“DBKL”) and received an approval letter
for the development order from DBKL in May 2019. Following the receipt of DBKL’s
letter detailing the charges associated with the development order in August 2019,
PDSB submitted an appeal for the revision of such charges. DBKL agreed to a revision
of charges in May 2020. On 8 December 2020, DBKL issued the Yayasan Project
development order. In conjunction with the Yayasan Project development order, the
Group is required to submit its building plan within one year of the development order,
failing which such development order will lapse. As at the LPD, PDSB is in the midst of
preparing a building plan to be submitted to DBKL.
Following the approval of the building plan which is expected to be obtained in the
second quarter of 2021, the Group expects to launch the Yayasan Project in the third
quarter of 2021 under the proposed name of Lushwoods Towers and Residences. The
Yayasan Project is expected to be completed by the fourth quarter of 2023.
Yayasan Project lies approximately 7 kilometres away from the Kuala Lumpur city
centre. Properties in the immediate vicinity comprise predominantly commercial
buildings, medical centres, blocks of condominium / apartments and shop offices. Other
commercial areas and townships surrounding the vicinity include Pudu, Bangsar, Bukit
Damansara, Mont Kiara and Titiwangsa. Shopping centers nearby include Suria KLCC,
Pavilion, Starhill Gallery, Lot 10, Sungai Wang Plaza, Plaza Low Yat, Quill City Mall
and Sunway Putra Mall.
In terms of connectivity, the Yayasan Project can be conveniently accessed via DutaUlu Kelang Expressway (DUKE), Middle Ring Road 2 (MRR2), New Klang Valley
Expressway (NKVE) and Ampang-Kual

Prospects and future plans of the Group

Historically, the Group is principally involved in the civil engineering and construction
business, the M&E engineering services business and the business of manufacturing
low-voltage switchboards.
In 2018, the Group diversified into the property development following the execution of
a JVA for Yayasan Project. This diversification is a natural extension of the Group’s
business, allowing it to leverage on existing expertise in civil engineering and
construction. Following the submission of the development order application and
subsequent appeal of the development order charges, the Group recently obtained
DBKL’s approval for the project and PDSB is in the midst of preparing for the
submission of the building plan. At present, Yayasan Project is targeted for completion
by the fourth quarter of 2023.
The Group believes that, given the centrality of the location, easy access to the central
business district, and the attractive mix of residential quarters and commercial lots,
Yayasan Project will appeal to both local and international home purchasers and
investors who appreciate the convenience of being close to the city centre and the
connectivity to a network of highways. Buyers of commercial spaces, on the other hand,
will benefit from both the built-in residential clientele and foot traffic from users of the
office spaces.
Moving forward, the Group intends to build on its property development capabilities as
part of its continuous effort to improve its financial performance and maximise value for
the Shareholders. It will continue monitoring the latest developments in the property
market with the aim of exploring opportunities, including via the formation of strategic
alliances or joint ventures, in the property development space.
On 22 September 2020, the Group announced its venture into the sand mining
business. Pasukhas Products Sdn Bhd, a wholly-owned subsidiary of the Company,
entered into an agreement with BB Energy Sdn Berhad for the exclusive rights to
access, extract and dredge marine sand at Sungai Miang, Mukim Pekan, Pahang Darul
Makmur for subsequent sale, distribution and/or export (“Sand Mining Business”).
The contractual term of the agreement is for 12 months with an option to extend for a
further 12 months. Marine sand is largely used in land reclamation.
In addition to marine sand, the Group also intends to pursue the mining of river sand.
The Group is actively pursuing potential sand buyers from Mainland China and Hong
Kong, where much of the construction activity have resumed following the loosening of
lockdown policies that were put in place as a result of the COVID-19 pandemic. The
operations of the Sand Mining Business is expected to commence in the second
quarter of 2021 and is anticipated to provide the Group with an additional stream of
revenue moving forward.
The Group is continuously expending efforts to secure more contracts for its civil
engineering and construction as well as M&E engineering services segments. To this
end, the Group aims to work with various property developers and project owners in
Malaysia to secure additional M&E contracts for commercial high-rise buildings, mixed
development and other specialised projects.

if nobody exit cheaply, nobody will make and harvest richly. tighten your seat belt. Same as oversea, people will negative initially, later turned so positive, the share price now has risen by few hundred %.

Good luck!

just accumulate as fearful people dump their shares cheaply. u will reap the reward anytime

very likely to rebound unexpectedly... it is a newly born baby now with RM50mil++ pumped into it via esos & private placement plus new directors with new major shareholder.

Agreed. it could follow oversea share price and corporate move without right issue.


Diversification 2018 (Property Development, Energy & Sand)

In 2018, Pasukhas Group diversified to property development and coal trading business. The expansion of PGB Group’s business activities into the property development and coal trading industries is part of the Group’s long term strategy of diversifying horizontally into related industries with growth prospect.
Strength

Through the strength and expertise of our people, Pasukhas Group has sustained its business success providing innovative cost effective solutions to complex projects across Malaysia and the selected countries for over 30 years.

The people who make up the team at Pasukhas Group embody our values of strength, performance and passion. Our employees have strong connections to these ideals, which has contributed significantly to the progressive growth, success and leadership of our company. They have helped us develop the solutions, systems and project methods required to bring innovation, quality and value to the projects we deliver for our clients.

Over the years, we have amassed an impressive portfolios, we have built, complete, deliver projects to our client’s satisfaction. Whatever the project is, we have the experience to do it through our expertise and passion of our people. We are motivated to achieve the elements needed to provide project success that will leave a lasting impression for our clients, our society and our communities at large.
Our Vision

Our vision is to deliver world class projects by ensuring quality control that translates into the development of specifications and standards that are always on top of the technology revolution.
Our Mission

Our mission is to expand our portfolio with projects not only in our country but also in other parts of the world. We are poised to take up any challenge as Pasukhas Group boast a team of taskforce who are highly trained and diversified. Furthermore, at the helm we have a group of visionaries who will take us onto higher ground.

Found ROI interesting :)

Whether you're day trading, swing trading, or a long-term investor, you should always measure your performance. Otherwise, how would you know if you're doing well? One of the great benefits of trading is that you can rigorously measure how you're doing with objective metrics. This can greatly help eliminate emotional and cognitive biases.

So, how is this useful? Well, the human mind tends to build narratives around everything as it tries to make sense of the world. However, you can't "hide" from numbers. If you're producing negative returns, something should be changed in your strategy. Similarly, if you feel like you're doing well but the numbers aren't reflecting that, you're probably a victim of your biases.

We've discussed risk management, position sizing, and setting a stop-loss. But how do you measure the performance of your investments? And how can you compare the performance of multiple investments? This is where the ROI calculation comes in handy. In this article, we'll discuss how to calculate return on investment (ROI).



What is return on investment (ROI)?
Return on investment (ROI) is a way to measure an investment's performance. It also can be used to compare different investments.

There are multiple ways to calculate returns, and we'll cover some of them in the next chapter. For now, though, it's enough to understand that ROI measures the gains or losses compared to the initial investment. In other words, it's an approximation of an investment's profitability. Compared to the original investment, a positive ROI means profits, and a negative ROI means losses.

ROI calculation applies to not just trading or investment, but any kind of business or purchase. If you plan to open or buy a restaurant, you should do some number crunching first. Would opening it make sense from a financial perspective? Calculating an estimated ROI based on all your projected expenses and returns may help you make a better business decision. If it seems like the business would turn a profit in the end (i.e., have a positive ROI), it may be worth getting it started.

Also, ROI can help evaluate the results of transactions that already happened. For example, let's say you buy an old exotic car for $200,000. You then use it for two years and spend $50,000 on it. Now suppose that the car's price goes up on the market and you can now sell it for $300,000. Not only did you enjoy this car for two years, but it also brought you a sizable return on your investment. How much would that be exactly? Let's find out.



How to calculate return on investment (ROI)
The ROI formula is quite simple. You take the current value of the investment and subtract the original investment cost. Then, you divide this sum by the original cost of the investment.

ROI = (current value - original cost) / original cost
So, how much profit would you make by selling the exotic car?

ROI = (300,000 - 200,000) / 200,000 = 0.5
Your ROI is 0.5. If you multiply it by 100, you get the rate of return (ROR).

0.5 x 100 = 50
This means that you made a 50% gain on your original investment. However, you need to take into account how much was spent on the car to get the full picture. So, let's subtract that from the current value of the car:

300,000 - 50,000 = 250,000
Now, you can calculate ROI while taking into account the expenses:

ROI = (250,000 - 200,000) / 200,000 = 0.25
Your ROI is 0.25 (or 25%). This means that if we multiply your cost of investment ($200,000) by your ROI (0.25), we can find the net profit, which is $50,000.

200,000 x 0.25 = 50,000

can do many green projects too.

Pasukhas Group Bhd’s wholly-owned unit, Pasukhas Green Assets Sdn Bhd, has proposed to establish an Islamic Medium Term Note Programme of RM200 million in nominal value to fund its acquisitions and capital requirement needs.

In an exchange filing today, Pasukhas said the programme, which will be established under the syariah principle of Wakalah Bi Al-Istithmar together with Murabahah, will have a tenure of 20 years from the date of its first issuance.

Proceeds raised will be used to finance Pasukan Green’s acquisitions of projects, which may include a company, and to fund its working capital needs, it added.

Danajamin also granted it. Solid too!

KUALA LUMPUR (Feb 25) Danajamin Nasional Bhd is guaranteeing the first tranche of a 20-year RM200 million Islamic Medium Term Notes Programme issued by a wholly-owned subsidiary of Pasukhas Group Bhd.

"The proceeds from the issuance of the Asean Green SRI Sukuk will be utilised for Pasukhas' hydropower plant in Sungai Rek, Kelantan and to explore other renewable energy assets in Malaysia," Danajamin said in a statement today.

The tranche issued by Pasukhas Green Assets Sdn Bhd also marks Danajamin's first foray into the green sukuk programme aimed at funding environmentally sustainable infrastructure in Malaysia.


The tranche, worth RM17 million with tenures of up to 10 years, is unrated and is to be fully subscribed upon issuance.

Danajamin CEO Mohamed Nazri Omar said Pasukahas will continue to seize growth opportunities by extending its business activities in multiple sectors.

"We hope this issuance will continue to spur Pasukhas' growth as they progress into the renewable energy segment. This new venture will simultaneously diversify the market with more SRI opportunities for investors," he said.

Meanwhile, Pasukhas CEO Wan Thean Hoe said the group is appreciative of Danajamin's guarantee of the Aseam Green SRI Sukuk.

"We appreciate the support and trust Danajamin has placed in us through their guarantee. This will be a stepping stone for Pasukhas to strengthen its energy business by venturing into more opportunities in the renewable energy segment," said Wan.

Danajamin said there have been about six Green Sukuk issuances since the inaugural Green Sukuk was released in July 2017 in Malaysia, while adding this is part of the government's initiative to strengthen Malaysia's Syariah compliant green instruments position.

It added that to date its guarantees have assisted 38 issuances, with a total guarantee size of RM10.7 billion. The total market impact of these deals, via risk-sharing collaboration with its partner banks, stands at RM21.2 billion.

Corporate Name : PASUKHAS GROUP BERHAD
Symbol & Code : PASUKGB (0177)
Board : ACE
Shariah : Shariah Compliant Compliant
Sector : Industrial Products & Services
Sub-Sector : Industrial Engineering

NTA (RM)
: 0.090
P/B Ratio
: 0.50

Total cash pumped into the company from 17 sep 2020 to 12 Mar 2021 = RM51mil +++

12-Mar-2021 15-Mar-2021 ESOS 22,737,300 0.040 = RM909,492
10-Mar-2021 11-Mar-2021 ESOS 75,791,000 0.040 = RM3,031,640
03-Mar-2021 04-Mar-2021 ESOS 60,000,000 0.045 = RM2,700,000
25-Feb-2021 26-Feb-2021 ESOS 60,000,000 0.048 = RM2,880,000
22-Feb-2021 23-Feb-2021 ESOS 60,642,500 0.048 = RM2,910,840
18-Feb-2021 19-Feb-2021 ESOS 60,000,000 0.050 = RM3,000,000
17-Feb-2021 18-Feb-2021 ESOS 30,000,000 0.050 =RM1,500,000
14-Jan-2021 15-Jan-2021 ESOS 60,000,000 0.073 =RM4,380,000
06-Jan-2021 07-Jan-2021 ESOS 30,102,600 0.073 =RM2,197,489.80
31-Dec-2020 04-Jan-2021 ESOS 30,102,600 0.078= RM2,348,002.80
03-Dec-2020 04-Dec-2020 Private Placement 108,757,000 0.062 =RM6,742,934
24-Nov-2020 25-Nov-2020 Private Placement 100,000,000 0.065 = RM6,500,000
19-Nov-2020 20-Nov-2020 Private Placement 60,000,000 0.064 =RM3,840,000
17-Sep-2020 18-Sep-2020 Private Placement 81,441,000 0.100=RM8,144,100.

pasukhas is expected to climb back to 10sen ++ easily once it reports profit this year from sand mining, building glove factory, property development projects, hidro electric project in Kelantan and maybe other states as well or even oversea. In 2018, pasukhas share price mostly 10sen++...

Dec 18 0.055 0.065 0.070 0.050 10.17M -21.43%
Nov 18 0.070 0.090 0.090 0.070 5.76M -22.22%
Oct 18 0.090 0.105 0.110 0.080 6.99M -14.29%
Sep 18 0.105 0.110 0.120 0.105 64.59M -4.55%
Aug 18 0.110 0.115 0.135 0.105 44.50M -4.35%
Jul 18 0.115 0.115 0.120 0.105 6.41M 0.00%
Jun 18 0.115 0.115 0.140 0.110 8.31M 0.00%
May 18 0.115 0.115 0.135 0.115 2.95M 0.00%
Apr 18 0.115 0.130 0.130 0.115 14.04M -11.54%
Mar 18 0.130 0.145 0.165 0.125 35.87M -13.33%
Feb 18 0.150 0.135 0.165 0.125 26.18M 15.38%
Jan 18 0.130 0.145 0.150 0.130 32.32M -10.34%

Expecting traders to chase the shares if the share price exceeds 7sen like oversea warrant. But for pasukhas, this is an ordinary share, a bonus. no need to pay exercise price !!!!!!!!!!!!!!!!!!!

A very good entry point now. Pasukhas has accumulated a lot of cash through private placements and ESOS since Sept 2020.

Back to 10sen+++ is just a timing difference.

12-Mar-2021 15-Mar-2021 ESOS 22,737,300 0.040 Additional Listing Detail
10-Mar-2021 11-Mar-2021 ESOS 75,791,000 0.040 Additional Listing Detail
03-Mar-2021 04-Mar-2021 ESOS 60,000,000 0.045 Additional Listing Detail
25-Feb-2021 26-Feb-2021 ESOS 60,000,000 0.048 Additional Listing Detail
22-Feb-2021 23-Feb-2021 ESOS 60,642,500 0.048 Additional Listing Detail
18-Feb-2021 19-Feb-2021 ESOS 60,000,000 0.050 Additional Listing Detail
17-Feb-2021 18-Feb-2021 ESOS 30,000,000 0.050 Additional Listing Detail
14-Jan-2021 15-Jan-2021 ESOS 60,000,000 0.073 Additional Listing Detail
06-Jan-2021 07-Jan-2021 ESOS 30,102,600 0.073 Additional Listing Detail
31-Dec-2020 04-Jan-2021 ESOS 30,102,600 0.078 Additional Listing Detail
03-Dec-2020 04-Dec-2020 Private Placement 108,757,000 0.062 Additional Listing Detail
24-Nov-2020 25-Nov-2020 Private Placement 100,000,000 0.065 Additional Listing Detail
19-Nov-2020 20-Nov-2020 Private Placement 60,000,000 0.064 Additional Listing Detail
17-Sep-2020 18-Sep-2020 Private Placement 81,441,000 0.100

Also, pasukhas will be reporting a profit this year. build glove factory for others, mining sand for export to China/HK, develop condo project near KLCC, etc.


Further boost on its share price. A good entry point now :)


Fintec tasks Pasukhas with building glove factory for RM58 ...
https://www.theedgemarkets.com/article/fintec...
27/01/2021 · KUALA LUMPUR (Jan 27): Fintec Global Bhd's rubber glove unit has tasked Pasukhas Group Bhd to build a rubber glove factory in Perak for RM58.87 million. In a bourse filing, Pasukhas announced that its wholly-owned subsidiary Pasukhas Sdn Bhd has received a letter of award from Fintec Glove Sdn Bhd to design, build and deliver a turnkey glove manufacturing factory in Kinta, Perak.

I agree that when pasukhas launches this project officially, it will fly immediately.

Pasukhas to jointly develop KL land with Yayasan Veteran ...
https://www.theedgemarkets.com/article/pasukhas...
KUALA LUMPUR (June 9): Pasukhas Group Bhd has teamed up with Yayasan Veteran Angkatan Tentera Malaysia to jointly develop a 1.27-acre piece of state leasehold land here into a commercial development, comprising office towers.

PROSPECTS
The year 2020 will no doubt bring a fair share of challenges and opportunities to the Group. With the Coronavirus disease 2019
(COVID-19) pandemic outbreak worldwide, like other companies in the same industry, the immediate prospects for the Group
are not encouraging in the event that the macro economic and political climates do not improve drastically. The Group has
implemented cost cutting measures pending a more vibrant economic outlook. We are reasonably confident of the future prospects
of the Group in anticipation of the improved economy and in line with the additional roll out of more infrastructure projects initiated
by the Government. We also believe that with the long term stable income stream derived from the energy utilities services and
power generation segment will contribute positively to the long term financial performance of the Group. The Board of the Group
believe that we can benefit from the growth of the general construction sector, which remains attractive on the back of continued
Government development policies with strong emphasis on infrastructure development projects. It is our Group’s plan to further
explore the possibility of forming strategic alliance or joint venture with other companies in larger construction projects.
While competition in the construction industry remains intense, with our construction expertise and large clientele base, we are
confident that we are in a better position to secure more projects and improve the financial performance of our Group.
The Group’s M&E Engineering Services division is still actively securing more water and infrastructure projects. With the
Government’s aim to develop Malaysia into a developed nation by 2020, and to have a complete and modern water infrastructure
system in place catering to the entire country as one of the national targets, we are cautiously optimistic in benefiting from the roll
out of new infrastructure projects from the Government and private sectors.

The Renewable Energy, i.e. energy utilities services and power generation business, with the long term stable income stream
derived from the energy utilities services continue to contribute positively to long term revenue and profits of the Group.
Given the Government’s support in providing an economically viable platform for investments in the power and energy sector in
Malaysia, the positive prospect is expected to improve the Group’s power and energy related businesses, thus enhancing our
growth potential. We will continuously be on the lookout for mergers and acquisitions to further expand on our power and energy
related business in the near future. With our long term concession revenue from Renewable Energy, we will gradually reduce our
dependence on revenue derived from our existing business activities.
Overall, our Board is confident of the future prospects of the Group in anticipation of the improved economy and in line with the
additional roll out of more infrastructure projects initiated by the Government. We believe that with the continuous opportunities in
the construction sector will contribute positively to the financial performance of the Group. Nonetheless, the Group will continue to
focus and review our strategies to improve the cost, quality and delivery of our products and services as well as overall operational
efficiencies in order to remain competitive in the industries we operate in.

BOARD OF DIRECTORS
Dato’ Sri Teng Ah Kiong
Executive Chairman
(resigned on 3 June 2020)
Dato’ Teng Yoon Kooi
Executive Director
Wan Thean Hoe
Executive Director cum Chief Executive Officer
Chan Man Chung
Non-Independent Non-Executive Director
Teoh Kim Hooi
Independent Non-Executive Director
Yap Chee Keong
Independent Non-Executive Director
Norkamaliah Binti Hashim
Independent Non-Executive Director
AUDIT AND RISK MANAGEMENT COMMITTEE
Teoh Kim Hooi
Chairman of Audit and Risk Management Committee,
Independent Non-Executive Director
Yap Chee Keong
Independent Non-Executive Director
Norkamaliah Binti Hashim
Independent Non-Executive Director
NOMINATION COMMITTEE
Norkamaliah Binti Hashim
Chairman of Nomination Committee,
Independent Non-Executive Director
Yap Chee Keong
Independent Non-Executive Director
Teoh Kim Hooi
Independent Non-Executive Director
REMUNERATION COMMITTEE
Yap Chee Keong
Chairman of Remuneration Committee,
Independent Non-Executive Director
Teoh Kim Hooi
Independent Non-Executive Director
Norkamaliah Binti Hashim
Independent Non-Executive Director
REGISTERED OFFICE
10th Floor, Menara Hap Seng
No. 1 & 3, Jalan P. Ramlee
50250 Kuala Lumpur
Tel : 03 2382 4288
Fax : 03 2382 4170
CORPORATE OFFICE
Wisma Modal Khas
Lot 5815-A, Jalan Mawar
Taman Bukit Serdang
Seksyen 9
43300 Seri Kembangan
Selangor Darul Ehsan
Tel : 03 8948 3328
Fax : 03 8943 4328
Website : https://www.pasukhasgroup.com
PRINCIPAL BANKERS
Malayan Banking Berhad
CIMB Bank Berhad
OCBC Bank (Malaysia) Berhad
RHB Bank Berhad
STOCK EXCHANGE
ACE Market of Bursa Malaysia Securities Berhad
Stock Name : PASUKGB
Stock Code : 0177
Sector : Industrial Products & Services

With real biz :)

BUSINESS SUMMARY

Pasukhas Group Berhad is engaged in the business of providing mechanical and electrical engineering services. Its segments include M&E
Engineering Services, Manufacturing of LV switchboards, Civil Engineering and Construction Services, and Trading of Equipment. Its services consist
of designing, system integration, fabrication, installation, testing and commissioning of electrical and mechanical works. The Company provides
procurement, installation and testing and commissioning of high voltage (HV) system, power and distribution transformers, generator system, low
voltage (LV) system and extra-low voltage (ELV) system including switchgears, panels and cabling works. It serves industries, such as automotive,
steel and aluminum, textiles, power generation and packaging. Its offerings in switchboard include Main, Sub-Switchboard and Distribution Board;
Generator switchboard and Auto Mains Failure Panel; Auto and Manual Synchronizing Panel, and Outdoor Feeder Pillars.

~RM30mil cash as at 30/9/2020 before share consolidation & RI & many esos. Now, the cash balance should be more than RM100mil !!!!!!!!!!!!!!!!!! just be patient and wait for corporate news !

MLABS SYSTEMS BERHAD
Company No. 200401014724 (653227-V)
(Incorporated in Malaysia)
CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 30 SEPTEMBER 2020

Net changes 6,428 (8,822)
Effects of changes in foreign exchange rate 303 3
Brought forward 22,490 22,591
Carried forward 29,221 13,772
Cash and cash equivalents at the end of the financial period comprise the following:
Cash and bank balances and short-term funds 29,221 13,772

Net assets per share attributable to ordinary equity holders of the parent ($)
4.5sen as at 30.9.2020 before share consolidation also. If as at 31.12.2020, Net assets per share will jump. Share consolidation plus RI issued at 9sen.

Cheap valuation :)

Price to Book MRQ 0.33

Top Executives
Name Age Since Title
Sureswaran Ramadass 51 2017 Independent Non-Executive Director
Suleiman bin Mahmud 72 2009 Independent Non-Executive Chairman of the Board
Ismail Bin Ahmad 71 2019 Non Independent Non-Executive Director
Tee Kein Ong 62 2019 Non Independent Non-Executive Director
Sik Eek Tan 42 2018 Executive Director
Hoon Hong Chuah 33 2020 Non-Executive Independent Director

Best buy now probably!

MLBS Historical Data

Time Frame:

Monthly

Date Price Open High Low Vol. Change %
Feb 21 0.065 0.075 0.080 0.050 119.72M -13.33%
Jan 21 0.075 0.080 0.080 0.065 370.68M -6.25%
Dec 20 0.080 0.125 0.130 0.070 792.18M -36.00%
Nov 20 0.125 0.070 0.200 0.070 513.24M 525.00%

good entry point now :)

Time Frame:

Monthly


Date Price Open High Low Vol. Change %
Feb 21 0.045 0.070 0.070 0.040 8.62M -30.77%
Jan 21 0.065 0.075 0.075 0.060 362.54M -7.14%
Dec 20 0.070 0.075 0.080 0.070 544.15M -6.67%
Nov 20 0.075 0.050 0.100 0.045 1.29B 50.00%
Oct 20 0.050 0.070 0.080 0.045 536.89M -28.57%
Sep 20 0.070 0.085 0.190 0.065 2.20B -12.50%
Aug 20 0.080 0.065 0.090 0.050 179.03M 23.08%
Jul 20 0.065 0.040 0.080 0.035 151.12M 85.71%

mlabs has RM100mil++ cash, can join a consortium to bid for a digital banking license. wait and see :)


Malaysia seen attracting more applicants for digital bank licences than rival jurisdictions
Adeline Paul Raj
/
The Edge Malaysia

January 18, 2021 17:00 pm +08

This article first appeared in The Edge Malaysia Weekly, on January 11, 2021 - January 17, 2021.
Malaysia seen attracting more applicants for digital bank licences than rival jurisdictions
-A+A
MALAYSIA will attract more applicants for its digital bank licences than Singapore or Hong Kong, experts believe, mainly because of its relatively lower capital requirement. “We think there could be between 30 and 50 applicants. Not all of them may have the same level of commitment, though,” Shankar Kanabiran, a financial services advisory partner at EY Malaysia, tells The Edge.

Bank Negara Malaysia, which released its licensing framework for digital banks on Dec 31 last year after a six-month public consultation, plans to award up to five such licences. The central bank set a June 30 deadline for those interested to apply to do Islamic or conventional digital banking business, and will announce the winners by the first quarter of 2022.

Many of the interested parties are expected to form consortiums to apply, as was the case in Singapore and Hong Kong.

Advertisement

On Dec 4 last year, the Singapore central bank granted digital bank licences to four out of 21 applicants. The four, of which two comprised consortiums, are expected to commence operations from early next year.

Meanwhile, Hong Kong attracted over 30 applications for its digital banking licences. It ended up issuing eight such licences in May 2019, with several of the recipients having already launched operations.

In Malaysia, the central bank requires a digital bank to maintain minimum capital funds of RM100 million, unimpaired by losses, during its foundational phase — meaning, the first three to five years. After the foundational phase, the amount increases to RM300 million.


Kanabiran: [Malaysia] will see a lot more applicants, but I suppose there is going to be a very clear difference between the serious, credible players and the ones that are just trying their luck
“If you look at Singapore, the minimum paid-up capital requirement for a digital wholesale bank (DWB), which serves the small and medium enterprise segment, is S$100 million (RM304 million), whereas for a digital full bank (DFB), it is S$1.5 billion, or a concessionary S$15 million in the initial one to two years. So, essentially, the consortiums need to have deep pockets to operate a DFB,” says Kanabiran.

In Hong Kong, the minimum paid-up capital for a digital bank is HK$300 million (RM156 million), the same for commercial banks.

“With Malaysia’s capital requirement being lower, it’s a lower barrier to entry. Thus, you will see a lot more applicants, but I suppose there is going to be a very clear difference between the serious, credible players and the ones that are just trying their luck,” he says.

Kanabiran notes that Malaysia’s lower capital requirement will enable small, nimble players with less capital, but with innovation on their side, to apply. “So, the bar is not set prohibitively that it precludes some of the smaller players with innovative products to come into the market.”

With only up to five licences up for grabs, it will be a beauty parade, with applicants having to convince Bank Negara of their business plan and ability to cater for the underserved and unserved segments. The central bank has made it clear that digital banks cannot sway from their main purpose, which is to serve those segments, thereby improving financial inclusion in the country.

Providing examples, Bank Negara says these segments may include those who lack credit history, collateral or a consistent source of income, such as self-employed individuals, first-time borrowers, retirees and those who recently joined the workforce. They may also include people with a low level of financial literacy and those who are not easily reached through traditional means because they are in far-off locations or have disabilities.

Going by its licensing framework, Bank Negara seems to be taking a cautious approach when it comes to digital banks. Apart from requiring applicants to detail how they will deploy technology and address cybersecurity and IT governance, there is a RM3 billion cap on the asset size for digital banks during the foundational phase. For perspective, the country’s smallest bank, Alliance Bank Malaysia Bhd, has an asset size of about RM60 billion.

“At the end of the day, RM15 billion (or RM3 billion for each of the five players) isn’t going to disrupt financial stability. So, it’s really about [Bank Negara] balancing between innovation and allowing digital banks to come in, and not having a too-big-to-fail kind of situation,” says Kanabiran.


Kittane: If you’re a middle-of-the-pack bank, for you to create a digital window with

employees with insider knowledge grabbed a lot at 5sen... it is expected to rebound strongly with the order to build a glove factory valued at more than RM56mil++


18-Feb-2021 Additional Listing ESOS - 60,000,000 shares at 0.050.
17-Feb-2021 Additional Listing ESOS - 30,000,000 shares at 0.050.

one RI exercise in the past also 10sen per share. now 5sen only...


PASUKGB Bonus/Right Issue History
Date Ex-Date Entitlement
Date Transfer
Date Type Ratio Right Issue
Price Details
27 Mar 17 06 Apr 17 10 Apr 17 10 Apr 17 Rights Issue 1 : 1 0.100

cheap valuation


NTA (RM)
: 0.090
P/B Ratio
: 0.56

Corporate Information
Website : Link
Corporate Name : PASUKHAS GROUP BERHAD
Symbol & Code : PASUKGB (0177)
Board : ACE
Shariah : Shariah Compliant Compliant
Sector : Industrial Products & Services
Sub-Sector : Industrial Engineering

Fintec, Pasukhas: Fintec tasks Pasukhas with building glove factory for RM58.9m. Fintec Global has tasked Pasukhas Group to build a rubber glove factory in Perak for RM58.87m. Pasukhas announced that it has received a letter of award from Fintec Glove to design, build and deliver a turnkey glove manufacturing factory in Kinta, Perak. The factory is a 10,000sqm that will house up to 14 dipping lines. (The Edge)

4 Weeks Range: 0.04 - 0.075
4 Weeks Price Volatility (%):
28.57%
52 Weeks Range: 0.01 - 0.19
52 Weeks Price Volatility (%):
22.22%
Average Price Target: 0.22
Price Target Upside/Downside: +0.17

Back to 7sen soon?

Recent Prices
Date Open Range Close Change Volume
18/02/2021 0.055 0.045 - 0.055 0.05 -0.005 (9.09%) 52,973,600
17/02/2021 0.05 0.05 - 0.055 0.055 +0.005 (10.00%) 68,348,700
16/02/2021 0.045 0.04 - 0.055 0.05 +0.005 (11.11%) 89,629,000
15/02/2021 0.045 0.04 - 0.05 0.045 0.00 (0.00%) 57,882,300
11/02/2021 0.05 0.045 - 0.05 0.045 -0.005 (10.00%) 6,745,900
10/02/2021 0.05 0.045 - 0.05 0.05 -0.005 (9.09%) 12,969,600
09/02/2021 0.05 0.045 - 0.055 0.055 +0.005 (10.00%) 22,028,900
08/02/2021 0.055 0.045 - 0.055 0.05 -0.005 (9.09%) 106,314,200
05/02/2021 0.065 0.055 - 0.065 0.055 -0.01 (15.38%) 35,232,200
04/02/2021 0.065 0.06 - 0.07 0.065 0.00 (0.00%) 49,238,900
03/02/2021 0.065 0.06 - 0.07 0.065 0.00 (0.00%) 7,291,200
02/02/2021 0.07 0.065 - 0.07 0.065 0.00 (0.00%) 11,695,900
29/01/2021 0.065 0.065 - 0.075 0.065 +0.005 (8.33%) 76,396,800
27/01/2021 0.065 0.06 - 0.065 0.06 -0.005 (7.69%) 6,108,400
26/01/2021 0.06 0.06 - 0.065 0.065 0.00 (0.00%) 16,702,200
25/01/2021 0.065 0.06 - 0.065 0.065 0.00 (0.00%) 10,731,000
22/01/2021 0.07 0.065 - 0.07 0.065 -0.005 (7.14%) 9,611,500

Based on these historical data, is there a sudden rush to grab the shares from the open market?

KLSE: MLAB (0085) MLABS SYSTEMS BHD ACE : Technology

ASIA BIOENERGY TECHNOLOGIES BERHAD 15-Sep-2017 Notice of Interest 75,100,000 0.000 View Detail
ASIABIO CAPITAL SDN. BHD. 15-Sep-2017 Notice of Interest 75,100,000 0.000 View Detail
FIRST UNITED TECHNOLOGY LIMITED 15-Sep-2017 Notice of Interest 48,100,000 0.000 View Detail
NETX HOLDINGS BERHAD 15-Sep-2017 Notice of Interest 48,100,000 0.000 View Detail
ACE SOLUTION INVESTMENTS LIMITED 28-Aug-2012 Notice of Interest 10,000,000 0.000 View Detail
BENJAMIN LIM KEONG HOE 28-Aug-2012 Notice of Interest 10,000,000 0.000 View Detail
MLABS TECHNOLOGIES SDN. BHD. 02-Sep-2009 Notice of Interest 21,000,000 0.000 View Detail
SARAWAK INFORMATION SYSTEMS SDN. BHD. 15-Dec-2008 Notice of Interest 10,061,397 0.000 View Detail
SILICONNET TECHNOLOGIES SDN. BHD. 26-Aug-2005 Notice of Interest 1,400,397 0.000 View Detail

RI = 755,123,220 x 9sen~ RM68mil, 23/12/2020 ESOS 26mil x 8.5sen = RM2.21mil, 8/1/2021 ESOS 30mil x 7.25sen = RM2.175mil & Feb 15 ESOS 30mil x 6sen = RM1.8mil.

Total cash pumped into the company from the above ~ RM75mil.

+ Cash & cash equivalents @ 30 Sept 2020 ~ RM30mil

Total cash from the above = RM105mil

Total Shares issued/outstanding as at 15 Feb 2021 ~ 966,977,090

Thus, cash per share ~ 10sen ++................ Mlab is a debt free company, zero gearing.



Value buy now before it is too late!

Good luck!

Thanks... very likely... those people who had made money from DGB will flood mlab with their gains anytime... better late than never...

Huat together.. All the best!

@@

PrinceofIpoh Nampaknya macam mau naik ni...
16/02/2021 10:51 AM

Good123 Bukan satu kebetulan, sendiri fikir masuk-masak. Pisang tak Akan berbuah 2 kali :)




Imagefintec.global › innovations
Our Incubatees - Fintec Global Berhad
DGB Asia Berhad (“DGB”), via its subsidiaries, is principally involved in the business activities of ... Mlabs System Berhad
16/02/2021 10:56 AM

Agreed. cash from right issue ~ 9sen x 755,123,220 = RM68 mil in Dec 2020. Add the cash balance ~ RM23mil as at 30.9.2020 = RM91mil in December 2020.

Current market cap is below RM60mil. Take it private and dissolve it, substantial gain :)



@Good123 + wang right issue , jumlah tunai akan memecut dalam mlab. Tunggu akaunnya bulan ini nanti :)

Sebelum right issue, jumlah tunai :)

MLABS SYSTEMS BERHAD
Company No. 200401014724 (653227-V)
(Incorporated in Malaysia)
CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED 30 SEPTEMBER 2020
CONSOLIDATED STATEMENT OF CASH FLOWS (CONT’D)
CASH AND CASH EQUIVALENTS
Net changes
Effects of changes in foreign exchange rate Brought forward
Carried forward
Cash and cash equivalents at the end of the financial period comprise the following:
6,428 303 22,490
(8,822) 3
22,591 13,772
13,772
10/02/2021 10:06 AM

Molek! :)

@Good123 Berita baru sudah mau datang, sabar ya :)


OTHERS MLABS SYSTEMS BERHAD - DIGITAL DISTRIBUTION AGREEMENT WITH MTOUCHE INTERNATIONAL SDN. BHD.

MLABS SYSTEMS BERHAD

Type Announcement
Subject OTHERS
Description MLABS SYSTEMS BERHAD
- DIGITAL DISTRIBUTION AGREEMENT WITH MTOUCHE INTERNATIONAL SDN. BHD.
The Board of Directors of Mlabs Systems Berhad (“Mlabs” or the “Company”) wishes to inform that Mlabs Research Sdn. Bhd. (“Mlabs Research”), a wholly owned subsidiary of the Company, had on 19 November 2020 entered into a Digital Distribution Agreement (“Agreement”) with mTouche International Sdn. Bhd. (“MISB”) to promote, market, and distribute Novel Coronavirus (SAR-CoV-2) RP-PCR Detection and Diagnostic kit and Novel Coronavirus (SAR-CoV-2) lgM/lgG Rapid Test Kit, and other equivalent products in Malaysia and South East Asia Region only through Mlabs digital distribution channel.



MISB is a wholly owned subsidiary of mTouche Technology Berhad which the group is engaged in the provision of mobile value-added services and digital medial marketing to more than 40 mobile network operators, who are reaching out to more than 640 million subscribers throught its operation in South East Asia market and Hong Kong.



The Agreement is to a period of one (1) year, commencing on and from 19 November 2020, unless otherwise mutually extended or terminated. Either party may terminate the Agreement upon delivery of written notice at least 30 days prior to such termination.



The Agreement will not have any effects on the share capital and shareholding structure of the Company. However, it is expected to have positive contribution to the earnings and net assets of Mlabs Group.



Similar to all business entities, the risk factors affecting the execution of the Agreement, including but not limited to business risks such as prudent financial management, changes in political, economic and regulatory conditions. However, the Board will continue to exercise due care in considering the risks associated with the Agreement and will take appropriate measures in planning the successful execution of the Agreement.



The Agreement being incurred in the ordinary course of business, is not subject to the approval of the shareholders.



None of the Directors and/or other major shareholders of the Company and/or any persons connected to them have any interest, direct or indirect, in relation to the Agreement.



The Board, after due consideration, is of the opinion that the Agreement is in the best interest of the Group.



This announcement is dated 19 November 2020.
14/01/2021 8:34 AM