Jelebu is the driest place in MY with lowest rain per annum. Thus, with 1400 acres in Jelebu, Olympia jewel land can be nation's largest solar farm if Nenek Yap intend to go big in solar industry. LSS3 with 1000MW capacity in bid in 2019-2020 years. Many over-look this Nenek Yap huge potential. wakaka

If crazy Trump impose sanctions on us, MY habis. e+e sectors all can close shop....dont play with fire.

AU becoming Asean whereas MY towards bangla, indon nation. wakaka

15 nations can proceed without India-India can join later ma...India is the cuplrit who throw spanner on this world's largest free zone trade. always trouble maker. wakaka

KUALA LUMPUR (Jan 11): Scomi Energy Services Bhd’s (SESB) board has commenced an investigation into the RM64.33 million lent to its parent company Scomi Group Bhd as the advances were made without board approval, according to the filing to Bursa Malaysia.

The advances without board approval have dragged SESB into deeper financial trouble as Scomi Group, which holds a 65.64% stake in SESB, has not been able to repay the outstanding amount.

The board said that it is currently reviewing the management structure and terminating the shared services arrangement between itself and the parent company, except for certain critical functions.


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“Arising from the preliminary report from the solicitors in November 2018, the board is initiating an investigative review of the transactions constituting the advances to be conducted by a third party firm of independent auditors,” said SESB in the filing.

The money lent was for two-year period from June 2016 till June 2018.

Shah Hakim Shahzanim Zain was then the chief executive officer of both Scomi Group and SESB until August 2018 and March 2018 respectively. He was succeeded at SESB by Hilmy Zaini Zainal, who had held various senior management positions within the group since 2001.

Meanwhile, the chief financial officer (CFO) of SESB during most of the affected period, namely Chacko Kunjuvaru, had been appointed CFO of Scomi Group in March 2018.

Other notable directors who sat on the board of both companies while the transactions occurred were non-independent non-executive director Lee Chun Fai, independent non-executive director Tan Sri Nik Mohamed Nik Yaacob, who resigned from both boards on July 19, 2018 and independent non-executive director Liew Willip.

As of today, Sammy Tse Kwok Fai is an executive director of both companies, SESB said.

The major shareholders of Scomi Group are IJM Corp Bhd holding 24.37%, Kaspadu Sdn Bhd 8.91% and Amadia Investment Ltd 7.9%. Kaspadu is Shah Hakim’s vehicle.

The group said that it has been in constant negotiation with Scomi Group to pursue the repayment of total sum advanced.

“Subsequent to the affected period, Scomi Group has made repayment of RM6.8 million. However, there is a risk that the cash flow of the company and the financial ability of the company to meet its financial obligations will be affected in the event Scomi Group is not able to settle the advances.

“In such event, the company is considering all options available to it to ensure recovery of the advances,” SESB said.

The advances had also been made without prior approval by the Audit Committee, which is still unable to provide a statement as to whether the provisions were fair and reasonable or to the detriment of the company and its shareholders, SESB said.

“The board believed that the amount due from Scomi Group related to the shared service agreement between (SESB) and (the parent group,” it said.

The advances had been disclosed in SESB’s audited financial statements for the financial years ended March 31, 2017 (FY17) and FY18. It was stated as amounts due from ultimate holding company, SESB added.

SESB is also reviewing the reporting and escalation structure from management to the board, and ensuring that the chief financial officer is directly accountable to the board to report on all material matters, including any proposed related party transactions.

65.65%-owned Scomi Energy. so, close to 35% with minority pls vote NO to stupid selfish parent's own agenda fo peanut MGO plan. wakaka

Can vote, kick out sohai parent?after 5:1 consolidation, peanut MGO by scomi??? pls leave the son who live better as independent entity

same boss now aim for PLUS after cheating all the innocent ikan bilis here

5:1 capital reduction:- pls vote down this proposition. Parent who SOHAI son has no right to decide on its future anymore. wakaka

Th kingmaker is 42% chinese, not malay 50% who already split to theend and bersatu. bersatu got chance to win unless chinese are stupid, to try otherwise. wakaka

Parent co. scomi drag down son. if scomi sell out son, scomies will rise up again. wakaka

yes-gelakan much better than both. theend or bersatu not the right answer. fight for self-benefit. we need a strong 3rd credible force with multi-racial platform. i'm sure 42% chinese are independent minded, knows discerning right and wrong. wakaka

PROPOSED SETTLEMENT OF DEBTS OWING TO A DIRECTOR AND SELECTED CREDITORS OF NEXGRAM IN THE AGGREGATE SUM OF RM23,454,664.65 TO BE FULLY SATISFIED THROUGH THE ISSUANCE OF 2,345,466,465 IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES AT AN ISSUE PRICE OF RM0.01 EACH

Huge manipulation to pull down this pansai share. its not really so bad financially. cash level over myr100Million with total debts myr100Million, so NIL debts. i accumulate further this pansai share yesterday. wakaka

Join the herd today buy this pansai business. hope it wont lao sai later. wakaka

If change new boss, more reasons should hold up for further upswing potential. I get free from Mulpha, still look forward for mudabangla turnaround one day. wakaka

waloe...salcon become rojak business- from water, to tahi, to solar, to cable installation in rail, to palm oil road tanker, alitrip platform agency, property....salcon must be a god expert in everything. semua boleh ma wakaka

its a wrong statement. all can live without Pakatun. wakaka

London is the world's most reknown global education centre of excellence but produce most lembu politicians. wakaka

since majority votes down Brexit, I guess parliament must respect the citizens views. maintain stick with EU. Brexit is UK politician's stupidiest ever move. wakaka

Kanda is nothing with smalllllllll stake with no directorship with no impact at all to Nexgem. What's the future direction Donald takes carry greater weight. its loss making Property section should just merge/ consolidate with Donald's Jiankun property

Donald Lim should just let go loss making property section, divert focus on this Jiangsu Tongguan Cable for the supply of fiber cables for 5G. then, fate may turnaround. Not sure why it still holding on its historial Angkasa Icon city project

Saudi Arabia, the United Arab Emirates, Egypt and Bahrain have imposed a blockade on Qatar since 2017. unquote+ great achiever, Qatar always has many enemy, sour grapes like the above. wakaka

Good riddance., of parasite. Let credible investors come in. wakaka

Tony, the magnificent is right. Time to openup airport to private. Let healthy competition prevail. Lest, gomen airport with DINASAUR monopoly mindset wont change...just like TNB, perompak besar. wakaka

many local O&G contractors no job. Petronas should focus on local jobs, create more e&p activity as nation's now I C B C. when domestic already in trouble, why focus overseas when local oil output productivity keep declining?

Day by day, we regress further from reality. pakatun is in the dreaming honey moon mode when others like vietnam, thailand keep over-taking us very fast. all jobs gone to thailand, Vietnam. What strategy we have to encounter this stiff competition. answer is 3 months maternity leave. wakaka

Mr Bean will approve but wait another 100 yrs for UEC recognition by govt. wakaka. all the study, research is just a lame excuse prologing the impossible.

LONDON: The pound surged more than 1% and UK government bonds slid as Brexit negotiators moved closer toward a Brexit deal.

Sterling rose to the highest in almost five months and domestic stocks rallied after European officials said there was optimism that there could be a breakthrough by the end of the day.

Option traders are pricing in the biggest pound swings since July 2016 over the coming week on the potential for a deal being signed off by the region’s leaders at a summit starting tomorrow.

3 months maternity is CRAZY idea, to kill off all future investors come in next time. wakaka

This is Pakatun. all fight to be more popularist than the rest without thinking of long term impact. Focus should be on how to increase productivity and efficiency, not fight for benefits or self-popularity, by pretending to be hero. wakaka

Better vote Gelakan-multi racial party over racist like UMNO or DAP...2x5 only...wakaka

•RM50 million to enhance detention procedures and facilities, and installation of 11,500 CCTV units in police detention centres and immigration entry points.-budget 2020

Nobita can simply put a figure myr1000billion for Sabah state. at the end, how much really disbursed promptly counts. not empty promise over and over again. wakaka

From Iraq, Afghanistan, Egypt, Yemen, Syria- all mass killings in middle east created by USA monster. but, talk as if one is god. Demon king talk about human rights??? the funniest joke

1) sensorlink CCTV- revenue myr34M/ PBT myr4M; 2) Logistics- revenue MYR20M PBT minus MYR1M 3) Property revenue MYR4M PBT minus MYR22M....so, the culprit is property which drag down the PBT...the other segment 2 shows high growth....I still hold this salted fish till now. wakaka

yes, MCA, UMNO, PAS still relevant to have a check and balance on past opposition who is now new govt. All parties are 2x5 with abuse of power when too much power. wakaka

its insane to expect different results by doing same things over and over again. wakaka

Carrie Lam, HKG governor is helping the protestors legitimise the protest by not covering with mask. She is not really working under China Beijing but pretend on CCP side bcs she is also wearing mask ma.... wakaka

if hkg protestor strngly believe their conscience is right, no need to cover face like coward. fight with conviction like gandhi. then only earn full respect from worldwide. wear mask is a coward

if BN gomen really good, MYR should be stronger than SGD, not vice versa. wakaka

quote**
UEC is recognise worldwide...even singapore U, cambridge, Oxford etc.
Most graduate of UEC no complain cannot get job or cannot cari makan mah.....!! UEC student maths are very good mah....!!
Unquote**
Our standard is even much higher than Sin, cambridge, Oxford ma. So, cannot easily recognize UEC quality ma. wakaka

Post removed.Why?

Under GST, also suffer. Under SST, also suffer lei, even getting worse. Pakatun is a BOGUS doctor who give wrong medicine. wakaka

Our jungle law-foreigner can buy property. But, NO PR...PR for Bangla, mamak, Indon like Zakar Naik. wakaka

U turn, U turn again. End up all citizens also pusing pusing every day. How many U Turn already within short period of time? Last time, always hit Pak Lah as flip flop. Now, Pakatun break new record. wakaka

200 plastic waste cntr. sent to Nenek Zaleha house...wakaka

How much plastic waste contribution to local jobs?? Nenek Zaleha said its myr20Billion revenue plastic waste per annum. But, i guess jobs 100% to Bangla only....In many Chinese NV township, we smell plastic toxin every day.....Nenek Zaleha pro developer...Now, pro plastic boss. Already forget why we vote Pakatumn? wakaka

OTHERS MULPHA INTERNATIONAL BHD ("MULPHA") PRIVATISATION OF AVEO GROUP LIMITED ("AVEO"), A 24.39% OWNED ASSOCIATE COMPANY OF MULPHA, BY HYDRA RL BIDCO PTY LTD AND HYDRA RL TOPCO PTY LTD, ENTITIES CONTROLLED BY BROOKFIELD ASSET MANAGEMENT INC, ON BEHALF OF ITS MANAGED FUNDS ("OFFEROR PARTIES") VIA A TRUST SCHEME AND A COMPANY SCHEME OF ARRANGEMENT ("SCHEMES")

To get highly critical speakout's positive comment on anything not easy, very rare...wakaka