4. RATIONALE AND BENEFITS OF THE PROPOSED DISPOSAL
The financial difficulties faced by our Group began with the downturn in the global oil and gas
industry since 2014 and the corresponding reduction in expenditure in the exploration,
development and production of oil and natural gas by oil majors, along with the deferment of
projects. The prolonged reduction in oil and gas activities led to oversupply in the offshore
support services segment, in which our Group operated, and adversely affecting demand for
our Group’s services. This resulted in the assets of our Group being either left idle or under-
utilised, leading to impairment loss and write-downs in the value of these assets. As a result of
the financial deterioration, financing arrangements available to our Group have become more
restrictive, which has led to further challenges for our Group in managing and supporting our
business operations.
The financial difficulties were also exacerbated by ongoing litigations with our Group’s
contractors in our technical services segment, leading to further impairments of receivables,
and causing our Company to lapse into Practice Note 17 status on 28 February 2018 when
our shareholders’ equity on a consolidated basis fell below RM40.0 million and represented
less than 25% of our issued share capital based on our unaudited consolidated financial
statements for the financial year ended 31 December 2017.
Our Company is thus required to submit a regularisation plan to the relevant authorities by 28
February 2018 and we were subsequently granted an extension of time up to 27 February
2021 to submit the regularisation plan to the relevant authorities for approval.
To that end, we have been in active discussions with our advisers to restructure our debts and
liabilities, and negotiate with lenders and creditors on a debt restructuring scheme, which
culminated in the announcement of the Proposed Regularisation Plan on 31 December 2020.
In parallel with the steps taken above, our Group has been exploring options to monetise
assets in order to improve our liquidity position. The Proposed Disposal will allow the DCMT
Group to raise the much needed funds for its working capital requirements, albeit limited, to
tide over its cash flow crunch in the interim, as well as to reduce our bank borrowings. The
proceeds from the Proposed Disposal will also provide the DCMT Group with working capital
to sustain its business operations, which our management has identified to be viable and will
form part of the core business of our restructured Newco group under the Proposed
Regularisation Plan. In addition, the Disposal Consideration also represents an attractive
premium over the market value and latest audited NBV of the Property, which would enhance
the earnings of our Group with an estimated net gain on disposal attributable to owners of our
Company of approximately RM3.7 million.

apple u look like an angel..

so how klci next look?

klci lowest hit 1205

no expire date, change anytime I like freedom ticket?

free ticket and hotel room boleh?

u want collect big ka?

rili buffet listen to u ka bro? haha

should be powerful..

don't try to panic..

don't panic?

em... one more time?

not yet jackpot price...

clear some dept only lucky price 0.18

value 0.40

no cheap at all.. after pp 0.61

cash is king.. nice job

key of success..

Post removed.Why?

hope huat huat..

may God bless me.. huhu

some earn very big.. some lose very big..

no eye see, once break y'all better don't chase high....

bravo topglove, u done good job for Malaysian..

0.61

yeah on the way to 0.80

nice..

steady... red eagle..

no enof.. gogogo

em... how come..

ti_ Wat happened oh?

alright kkl123, let's rock n roll..

Congrat to u la, u earn all liao.. well done..

trap ikan bilis style? haha another 50% off coming aiya..

Mayb he inside?

only.

just normal sms co.

wah.. good news

em... ok

em.. ok

em.. ok

steady, so big volume

I support KEYASIC now.. good luck

yo bamboo get project haha..

forgive about it.. live will be better!

what i found private hospital selling rm360 per test, the test result not live result, mean have to wait 3-5days then can know the result..

quite expensive alaredy..

he mean vaccine injection, not mean test kit,.,

...........

Posted by kkl123 > Jan 14, 2021 3:16 PM | Report Abuse

private hospital sure expansive lah
vaccine is $3900per injection lah 100%guranted by m touch
if injected and kena covid 19
m touch refund the money plus funeral fees if required

wah lau, where have u been so long time.. tot u cut win liao..

wah lau... the best lion king..

with share market price it worth enof