This company very lousy in promoting itself. The directors think just post news is enough. You are a listed company lah dey, you have to sell and market yourself so ppl will buy your stock and you get more working capital to grow.

ozura is no more a substantial shareholder

Done, registered through TIIH for live stream and voting in absentia.

wait until neck also long

coma

Volume giler today

Shit, I was hoping it'd fall to 0.075-0.08 so I can pick up more.

Tabung Haji To Sell TRX Land For A Profit

KUALA LUMPUR, May 26 (Bernama) -- Lembaga Tabung Haji will be selling the parcel of land it acquired from 1Malaysia Development Bhd (1MDB) at the Tun Razak Exchange (TRX) site for a small profit.

Its chairman, Datuk Seri Abdul Azeez Abd Rahim said Tabung Haji had made a decision to sell the land and had found a buyer.

"We are finalising the transaction and we will make a small profit," he told reporters after presenting prizes to the winners of the 58th National Quran Reading Competition here Tuesday.

Tabung Haji bought the 1.6-acre (0.64ha) land for RM188.5mil.

Abdul Azeez, however, did not name the buyer.

"We will announce the buyer after we had finalised the deal," he said.

Tabung Haji decided to sell the land on May 9 following an advice from Prime Minister Datuk Seri Najib Tun Razak after the purchase caused a controversy.

Champion quran reciters, Wan Ainuddin Abdullah from Kelantan and Siti Husnaa Hassan from Pahang won cash prizes and a Proton Preve each at the competition which ended Monday.

http://www.bernama.com/bernama/v8/newsindex.php?id=1138106

Nexgram in talks with 1MDB to buy TRX land

KUALA LUMPUR: Property developer Nexgram Holdings Bhd said the group is interested in participating in 1Malaysia Development Bhd’s (1MDB) projects, especially the multi-billionringgit Tun Razak Exchange (TRX).

Its executive director Alan How Han Lun (pix) said the group is in talks with 1MDB to participate in the development. “We will know not too long from now,” he told a press conference at a signing ceremony with MCC Overseas (M) Sdn Bhd here yesterday.

He said the group is looking to buy a piece of land at TRX and plans to have a joint venture (JV) with partners or investors to develop a project there.

“We shouldn’t miss the opportunity to have involvement in this project. Who knows, in the future, we can build our landmark there,” How said.

“As we know, the TRX project is in a prime and strategic location in the city centre. It is hard to find a piece of land that has a big potential such as this,” he added.

Meanwhile, Nexgram chairman Datuk Seri Wira Ayub Yaakob said the group will venture into more development projects in either the private or the government sector.

“With the support of the state and federal governments, we will seek out more affordable housing projects in Sabah and Sarawak,” he said.

At the event yesterday, Nexgram appointed MCC Overseas, a subsidiary of China Metallurgical Group Corp, as the contractor for its property development arm Nexgram Land Sdn Bhd’s projects in Cyberjaya and Putrajaya worth RM800 million each.

Construction of the projects is scheduled to begin in the third quarter of this year and is expected to be completed by 2020.

Its Putrajaya project, called Angkasa Residence@Putrajaya, consists of 659 units of small office/ home office apartments with sizes ranging from 850 sq ft to 1,100 sq ft and lifestyle retail shops.

The Angkasa City@Cyberjaya project is a mixed development of lifestyle commercial retailed lot, one block of high-end serviced office virtual office residence, one block of five-star hotel serviced suites and one block of corporate office tower.

The two projects have been fully sold to MyAngkasa Bina Sdn Bhd, a wholly owned subsidiary of Angkatan Koperasi Kebangsaan Malaysia Bhd, for a total value of RM1.5 billion.

The target purchasers are members of Koperasi Angkasa or civil servants who are working within the developments.

http://www.thesundaily.my/news/1431449

Where DR? Everyday shout but today volume spike no sound.

Lai lai 0.12 all sapu!!! 92% buy rate!!! Jackpot lai liao!!! Huat ah!!!

Low volume is good, means no retail players, all BPs. Price will shoot up anytime BP wants it to. Now only see 2nd half force selling how much only. But one thing is confirmed, this counter is already cornered.

@mkrs It's in the company announcement.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1898381

That's why today ex-date less 0.03 from yesterday closing price.

Warrant will trade @ 0.03

Warrant also up, looks like moving up next level.

Friday all huat so everybody can have a good weekend.

Steadily up is the way to go, too fast also no good. Previously hit 0.15/0.155 then fall was becos of global oil issue and foreign funds pull out. Now that market adjusted to new oil trend, it's gonna rally.

Holding up well @ 0.115 even though massive force-selling. Means big player collecting.

Big players all keeping low today, maybe they got wind Bursa is on the hunt.

@asahmad That means he is confident and is focusing on NG now. Besides, would you increase your stake if you know it's gonna sink?
Anyway, the transferred shares should be the ones he pledged to RA.

Today very quiet, other counters also.

TPY transferred pledged shares to his own account, good news.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1892793
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1892781

Just profit-taking, keep the faith.

Today is T3 from last Friday. If maintain 0.110 - 0.115 then will be safe; if lower than 0.110 then force selling might drag the price down.

I predict NG will go up slowly over the next few weeks. First reason being the carefully calculated increase in share price so as not to trigger any UMA enquiry from Bursa, the second being the obvious moves in trying to weed out the freeloaders and contra players.

I believe the big boys are amassing their line at 0.105 to launch an even bigger attack.

Keep the faith, people or corporations do not buy shares in millions for fun.
If you'd already hold your shares for so long, then it doesn't matter keeping it just a tad longer.

If Anwar today free, the price will up... hehehe...

http://www.theedgemarkets.com/my/article/nexgram-develop-215ha-land-dengkil-through-joint-venture

Hopefully JV this time is successful.

Today buying rate 100%. Looks like something is brewing.

I just realised the "DR" in DRwarrant stands for Dead Rat.

What goes up must come down; and vice versa.

Good things come to those who are patient.

Not interested in the selling, more interested in who is doing all the buying. Not NG doing buyback becos no announcement, therefore must be BP or syndicate. And that can only mean one thing...

Shark: Wah, these people eveyday in front of monitor wait for me to goreng. Better relax first.

Cut loss ~15% rugi.

Byebye NG.

Protasco MD: Tey and I were business partners

I lent him money to come into company as a strategic investor, says Chong

PETALING JAYA: Protasco Bhd’s boardroom tussle shows no sign of abating despite both parties having filed lawsuits against each other, with more allegations being brought up in public in the run-up to the EGMs on Nov 26 and Nov 28.

Accused of making RM10 million in secret profits from the collapsed Indonesian oil and gas venture, Protasco‘s executive vice-chairman and group managing director Datuk Seri Chong Ket
Pen, who called for a press conference yesterday, revealed that he and Tey Por Yee were in fact business partners before the fallout between them.

Chong told reporters yesterday that the RM10 million Tey claims to be financial gains from the aborted PT Anglo Slavic Indonesia (PT ASI) deal is in fact part repayment of a RM20 million loan to Tey by Chong, in a bid to bring the low-profile businessman in as a strategic investor in Protasco.

He said the money given to Tey in December 2012 was to help him secure a short-term loan to complete his purchase of Protasco’s shares.

“At that time, I viewed him (Tey) as a strategic investor that would benefit the group, and (so) I agreed to help him organise the loan for RM20 million,” said Chong.

Tey emerged in Protasco in late 2012 and is now the second largest shareholder with a 17.69% stake.

Chong’s press conference came after Tey took out an advertisement in selected newspapers last Friday, presenting a chart of the alleged RM10 million secret profits obtained by Chong.

According to Chong, Tey has repaid RM10 million of the loan to RS Mahaniaga Sdn Bhd, with another RM10 million outstanding.

“I lent him the other half via JF Apex Securities Bhd through a margin financing facility in my own name. The loan was secured using my own Protasco shares and my personal guarantee,” Chong told pressmen at the meeting he chaired together with his legal counsel Lionel Lau of Millennium Associates Sdn Bhd.

“The RM10 million under JF Apex is still outstanding,” he noted.

Chong has a made a police report against Tey’s claim that he made secret profits from the aborted PT ASI deal.

“I will definitely sue Tey but not now,” Chong said, adding that the focus now is to recover a RM50 million deposit Protasco paid for the failed PT ASI takeover deal.

Chong claimed that the suit filed by Tey though his company Kingdom Seeker Ventures Sdn Bhd (KSV) was “manipulative and aimed at confusing and misdirecting people”.

Tey, in response, said yesterday that Chong’s claim that he had borrowed RM20 million from him and RS Maha Niaga was “downright untrue and unsubstantiated”.

“If it is true, Chong should provide the agreement to back his claims. The only loan that Chong has given is RM10 million and it was to Kingdom Seekers. We have a loan agreement drawn up and I will be happy to make it public to substantiate this,” he added.

Tey said that under the terms of the loan agreement between Chong and Kingdom Seekers, the repayment of the loan was subject to the PT Anglo Slavic Utama (PT ASU) deal going through, that is, seven working days after completion of the PT ASU deal, Kingdom Seekers will return the RM10 million to Chong.

He said in the loan agreement, Chong had agreed that Kingdom Seekers could appoint an executive director to the Protasco board.

News update:

Protasco: Tey, Ooi didn’t give any proof

Company says duo did not provide any evidence at board meeting to back their allegations

PETALING JAYA: Protasco Bhd yesterday rebutted a statement made by embattled director Tey Por Yee last week, saying that its board of directors was not offered any evidence pertaining to allegations against managing director Datuk Seri Chong Ket Pen, although it was requested by the chairman.

Protasco said in a statement yesterday that a board meeting had originally been called at the request of Tey and another director, Ooi Kock Aun, via a notice dated Oct 23. The meeting was then set for Oct 31, as there would have been a lack of quorum if held on Oct 27 as requested by
Tey and Ooi.

It said the notice from Tey and Ooi was a basic request to call a board meeting, and did not refer to any alleged wrongdoing by Chong or any specific matters to be put on the agenda.

Protasco said its chairman Tan Sri Hadenan A. Jalil, via a letter dated Oct 24, requested more details for the agenda, but neither Tey nor Ooi responded.

“At the board meeting itself, Tey and Ooi did not present evidence of their allegations, contrary to their recent statements to the media.

“Tey, who owns and controls Kingdom Seekers Ventures Sdn Bhd, also did not present to the board any evidence of these accusations prior to the company’s legal suit announced on Sept 22, or prior to filing his own derivative action in court on Oct 28,” Protasco said.

In its statement, Protasco clarified that it will hold two separate EGMs, one on Nov 26 and the other on Nov 27.

The first, on Nov 26, concerns a proposal to remove Tey and Ooi as directors of the company and the second, on Nov 28, to remove Chong as director and any other person appointed as director before the conclusion of the EGM.

Protasco stated that the board resolved to take legal action against Tey and Ooi after receiving the findings of extensive and meticulous investigations undertaken over the past few months.

“The company is confident that it will succeed in its action and claims in the Kuala Lumpur High Court against PT Anglo Slavic Utama and its directors, namely Tey and Ooi,” it said.

Protasco is claiming a refund of the purchase price paid under the restated sale and purchase agreement dated Jan 28, 2014, as well as damages for breach of contract.

Its claim against Tey and Ooi is for damages arising from the breach of their fiduciary and statutory duties including the duty to disclose their interest in the transaction, conspiracy to defraud Protasco and the making of secret profit.

“The board will continue to act in the best interests of the company and minority shareholders as it has always done,” it said.

Chong fellow want to kacau kacau, now must jaga ownself behind... hehehe...

In the end, all will settle out of court.

So now all dirty linen washing in public liao... hehehe...

Must see this Thursday (30th Oct) what kind of defense they put up first.

Better for NG to cut off ties with the cancer that is Protasco and find new partners. TPY should dump his Protasco shares and buy in NG.

News update:

PROTASCO SHAREHOLDERS CALL FOR EGM

PETALING JAYA: Protasco Bhd has received a notice from shareholders, UOBM Nominees (Tempatan) Sdn Bhd and Tan Heng Kui who collectively hold a 10.51% stake in the company, to call for an EGM to remove two of its directors.
The two directors, Tey Por Yee and Ooi Kock Aun, are currently being sued by the company for breach of fiduciary duties.
UOBM and Tan hold 8.99% and 1.52% stake respectively in the group. Tan is a non-independent non-executive director of Protasco.
“A board of directors meeting will be called to discuss the matter and the relevant announcements will be made in due course,” Protasco said in a statement yesterday.
On Sept 22, Protasco said it was launching a legal suit against Tey, a substantial shareholder of Protasco, as well as Ooi and Indonesian-based PT Anglo Slavic Utama (PT ASU).
In the suit by Protasco, PT ASU is the first defendant, while Tey and Ooi were named the second and third defendants respectively.
Protasco is claiming US$22 million (RM72 million) in damages against PT ASU for the alleged breach of a sale and purchase agreement and a refund of the deposit of the purchase price paid.
The company is also claiming US$27 million (RM88 million) in damages for fraud and conspiracy as well as aggravated and exemplary general damages against Tey and Ooi.
Its claim against Tey and Ooi is premised on the breach of their fiduciary and statutory duties, including the duty to disclose their interest in the transaction, conspiracy to defraud Protasco and the making of secret profits.
Tey and Ooi have subsequently denied all allegations brought forward by Protasco. They will be filing their defence by Oct 30 2014.
In a joint statement yesterday, Tey and Ooi said they have filed a derivative action for the benefit of Protasco’s shareholders yesterday.
The embattled directors have scheduled a press conference today to provide updates “on the evidence, their defence and the latest developments in the legal suit”.

---------------------------------------------------------------------------------------------------------------------------

NEXGRAM SHORTLISTS CONTRACTOR, PARTNERS

> Planned partnership with Protasco Bhd falls through

PETALING JAYA: Nexgram Holdings Bhd has a short list of contractor and partners lined up for its maiden property development projects in Cyberjaya and Putrajaya, after its planned partnership with Protasco Bhd fell through.
“We signed the MOU with Protasco but their speed cannot match what we want … if you cannot do the job, sorry. We should follow good governance in selecting the right contractors and partners,” its CEO Tey Por Yee (pix) told reporters after its AGM yesterday.
Tey is one of two Protasco directors Protasco is suing for breach of fiduciary duties.
“We signed with them two months ago and all the partners should come back to us within the period but they couldn’t give us what we want. That’s why we have to select other partners as well. In the future if they can give us something fast and up to the mark, we may consider (them) again,” he added.
Last month, three independent directors of Nexgram resigned after Protasco announced that it had filed a legal suit against Tey, who is a substantial shareholder of Protasco, and Ooi Kock Aun and PT Anglo Slavic Utama (PT ASU).
Tey declined to comment on the resignation of the directors stating that it is a separate matter from Nexgram’s business. He and Ooi are to hold a press conference today.
Last month, the group announced that it had signed two MOUs with MyAngkasa Bina Sdn Bhd for the proposed joint development of the Cyberjaya and Putrajaya projects. MyAngkasa Bina is a subsidiary of Angkatan Koperasi Kebangsaan Malaysia Bhd.
Tey said it expects to have groundbreaking ceremonies for the two projects by first quarter next year and hopes to commence work on the project within the next 12 months.
The estimated value of both projects is RM1.2 billion, which is subject to change depending on the final plans.
“In Putrajaya we are doing affordable housing so it has to be in line with what the government wants. For Cyberjaya, we have more flexibility, we are developing middle to high-end, of course our price will be competitive to the market,” he said.
Tey said moving forward, it is looking for more joint venture (JV) projects in property development, both with the private sector and the government.
“Hopefully we can launch our projects before end of 2015. That will give us at least three plus two years of consistent income. Looking at thin margin of let’s say 15% net, that is fantastic income for the company for the next five years,” he said.
Tey said the group aims to have property development contribute 30% or more to its total earnings in the next one to two years. In the long term, property development and its core business of telecom, media and technology (TMT) are expected to contribute “quite equally”.

Buying RM2 alibaba company again.

Update on the court case:
Protasco’s Tey and Ooi deny wrongdoing, to file their defence end of this month

PETALING JAYA: Two embattled directors of Protasco Bhd have denied any wrongdoing in the company’s aborted oil and gas deal and will file their defence in court at the end of this month.

Tey Por Yee, a substantial shareholder of Protasco, and Ooi Kock Aun, the two non-executive directors named in Protasco’s lawsuit, have retained law firm Gideon Tan Razali Zaini for their defence. They entered an appearance at the Kuala Lumpur High Court on Wednesday. “We have carried out our fiduciary and statutory duties to the best of our ability. We resolutely deny all these allegations,” Tey and Ooi said in a joint press statement yesterday.

“The allegations are not true and not supported by facts. These will be made apparent when we file our defence at the end of this month, where proof will be furnished to back our defence,” they added.

Tey and Ooi also stated that they are not directors of PT Anglo Slavic Utama (PT ASU) as reported recently.

Protasco is taking legal action against Tey, Ooi and PT ASU to recover a RM50 million deposit it had paid in a O&G takeover deal that was later aborted after the amended sale and purchase agreement signed in January 2014 lapsed on July 28, 2014.
On Sept 24 2014, it announced that the claim against Tey and Ooi is US$27 million (RM88.6 million) in damages, with 5% interest pre and post-judgement.

If u look at 4-week high of 0.15, today's price is already more than 33% discount liao, a good bargain by all consideration. But then again, this is NG and nobody knows what will happen. The downtrend is obvious and will most probably trade sideways for some time. The fundamentals are good but somehow the response is weak. Add on to all these the legal suit and police report, and this counter is going to have an interesting time ahead. My personal view is this counter is either the do or die type. You will be rewarded handsomely or die miserably, no 50/50 here. Trade at your own risk, you will need lots of patience and holding power.

Everyday got ppl throwing lower and lower. Actually the authorised 10% share buyback can support, but somehow TPY like play2 only, so far I think only 600k shares bought back. That means he expect price go lower.

@TuaHuat
As previously announced, Protasco Berhad (“Protasco”) has filed a legal suit at the Kuala Lumpur High Court against PT Anglo Slavic Utama (“1st Defendant”) and two of its directors, namely Tey Por Yee (“2nd Defendant”) and Ooi Kock Aun (“3rd Defendant”) (“Legal Proceeding”) and the first case management was fixed on 3.10.2014.

The 2nd and 3rd Defendants are represented by solicitors and were directed by the Court to enter appearance by 16.10.2014 and to file their defence by 30.10.2014. A new case management date has been fixed on 06.11.2014 before the Judge for further directions.

Steve, you really optimistic guy. At times like this, u still can hope mama 0.13. I guess ppl like u really hardcore one, lol.