M&A Securities Sdn Bhd, on behalf of the Board of Directors of R&A wishes to announce that the Company had on 18 January 2017 entered into a framework restructuring agreement (“Framework Restructuring Agreement”) with Lean Kock Kiang and Lee Sek Ang (collectively, the “Promoters”) and FRC Resources Sdn Bhd, a special purpose vehicle incorporated to serve as the new listed vehicle in place of the Company (collectively, the “Parties”) for the following purposes:

(a) to set out the obligations of the Parties in relation to the preparation and submission of the Company’s regularisation plan to Bursa Malaysia Securities Berhad (“Bursa Securities”) and to implement such regularisation plan if it is approved by Bursa Securities; and

(b) the Promoters shall deposit a sum of RM2.5 million with their solicitors, which is to be utilised for the settlement of the scheme creditors of the Company and its wholly-owned subsidiary, R&A Telecommunication Sdn Bhd under the debt restructuring scheme.

Further details of the Framework Restructuring Agreement is provided in the announcement attached herein.

The announcement is dated 18 January 2017.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5318465

Chk out announcement

Got update today

TP

Belum mati ..sakit tenat

kempen kuat...tapi x naik...sigh...

bring back the glory days of Sumatec...

Today's announcement

PDZ is selling Perkapalan Dai Zhun...@ PDZ ..so PDZ is into what biz now

2017 recovery for o&g...time to accumulate while its still cheap

Jan apa news

Suma n pdz no longer abang adik

Wonder who is buying

Not forgetting TV3

KFM is much better...what a shame

OTHERS R&A TELECOMMUNICATION GROUP BERHAD ("R&A" OR THE "COMPANY") HEADS OF AGREEMENT BETWEEN R&A AND LEAN KOCK KIANG AND LEE SEK ANG IN RELATION TO THE PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN FORWARD RESOURCES AND CONSTRUCTION SDN BHD

no progress from Synergy Goldtree, now appealing for another 4 mths extension

Both theme park project in Melaka and Cambodia is on..except collaboration with Nagacorp is fake

bring in Ananda nephew also can't help...

even KFM is recovering...

Assessing other option in 2 weeks time...how la

New Directors appointed

If Teh is selling all his shares, any idea who is buying...no announcement

change of operator maybe...

The press conference/announcement of Cambodia JV appeared in Buletin TV3 last night...their business expansion is no joke...

RA to come up with regularisation plan with Synergy Goldtree before end of the month

bila mau naik

Exactly.

R & A Telecommunication: Given more time to submit plan. R & A Telecommunication Group has secured a reprieve from Bursa Malaysia Securities from a delisting. This comes after it inked a memorandum of understanding earlier this month for the proposed acquisition of construction firm Synergy Goldtree SB as part of its regularisation plan. The telecommunication industry player said in a statement that the regulator, which last month rejected its application for a further time extension to submit a regularisation plan, had considered its appeal and gave a further extension up to Dec 31, 2016. In its Oct 13 announcement, R & A said Synergy Goldtree had bagged construction contracts with a total value of about RM839m as at July 31, of which RM784m was yet to be billed. (StarBiz)

Bursa approved extension till 31/12/2016 to submit regularisation plan

I hope this deal will go through

Lee Wah Lian one the Director is in Indera Persada Sdn Bhd, a subsidiary of Digistar also a Director in Synergy Goldtree.

Below is news in 2013, I supposed project has completed check out Digista forum as well.

PETALING JAYA: The RM280mil bonds issued by a Digistar Corporation Bhd unit have been well received by the market, with the Employees Provident Fund alone taking up a third of the debt papers, people familiar with the transaction said.

The bond issuance is to raise funds to carry out a government project that Digistar’s 40%-owned unit, Indera Persada Sdn Bhd, has already secured, namely, the construction of the Malaysian National Technology Advancement Centre in Alor Gajah, Malacca, for the Works Ministry.

The other buyers of the bonds were the “usual suspects” of insurance companies and other institutional funds, the sources said.

The interest in the bonds can be explained by its good ratings. RAM Ratings Services Bhd has assigned a long-term rating of AA1 with a stable outlook on Indera Persada bonds.

Indera Persada has an 18-year concession from the Government for the Alor Gajah facility, covering a construction period of three years followed by an asset management services period of 15 years. It consists of RM174mil for the construction of facilities and infrastructure, and RM66mil for the provision of information and communications technology (ICT) and lab equipment.

RAM assigned the AA1 rating because the construction risk is largely mitigated by a performance guarantee of RM280mil by United Overseas Bank (M) Bhd for the construction period.

“The performance guarantee largely protects bondholders from the adverse effects of any construction delays.

“In addition, the main contractor for the project, Digistar Holdings Sdn Bhd, would bear any additional costs related to the project, as the design-and-build contract is on a fixed-price, lump-sum basis,” said RAM.

When contacted, Digistar group managing director Datuk Lee Wah Chong said: “This marks Digistar’s entry into property and construction in a significant way.

“While our ICT division has been doing well, for our company to become sizeable, property is our next phase of growth. As we go forward, property would be our main contributor.”

Last year, Digistar launched its maiden serviced apartments in Malacca. At a gross development value (GDV) of RM150mil, The Heritage Service Apartments has recorded a 60% take-up rate so far for its 347 units. Some 30% of the buyers are foreigners.

By Malacca standards, these units are expensive, as prices were transacted between RM930 and RM1,200 per sq ft. The apartments are located opposite the Equatorial Hotel and Dataran Pahlawan, which are considered prime locations in the Malacca city centre. The apartments will be completed by 2016.

“Who says you can only make money selling property in the Klang Valley and Johor? There are many foreigners, particularly Singaporeans, who are extremely keen on property in Malacca,” Lee said.

He said that Digistar was now looking for parcels of land for development in the Klang Valley.

“We would like to embark on a mixed development, comprising residential and commercial. If we can start our first project in the Klang Valley with a GDV of RM1bil, then we are on track to meet our targets,” Lee said.

For the nine months to June 30, 2013, Digistar’s net profit declined 28.4% to RM5.3mil on a 9.47% drop in revenue to RM48.06mil.

Digistar’s associate Indera Persada’s bonds taken up by pension and insurance funds

> EPF takes up one-third of the RM280mil bonds issued

> Alor Gajah, Malacca facility is an 18-year concession agreement covering 3 years of construction followed by 15 years of asset management services.

> Property to be Digistar’s future main business

ha..ha...

Promising.....

R&A Telecommunication to buy stake in construction firm
Posted on 14 October 2016 - 05:39am
sunbiz@thesundaily.com
Print
PETALING JAYA: R&A Telecommunication Group Bhd, a Guidance Note 3 (GN3) company, which is buying time to submit its regularisation plan, proposes to acquire the entire stake in Synergy Goldtree Sdn Bhd (SGSB) for an undisclosed amount.

The company had requested for a time extension from Bursa Malaysia to submit its restructuring plan, which was supposed to be submitted by Sept 4.

The regulator vide its letter dated Sept 5, however, rejected the company’s application to have until Sept 30 to make the requisite announcement and to submit the regularisation plan by Oct 31.

R&A subsequently submitted an appeal application to Bursa Malaysia, but is yet to be notified of its decision.

In a filing with the stock exchange yesterday, R&A said it had entered into a memorandum of understanding with the vendors in respect of the acquisition of SGSB.

SGSB is involved in the construction industry as a civil and building contractor. It has secured construction contracts with a total value of about RM839 million (of which RM784 million has yet to be billed) as at July 31, 2016.

R&A and the vendors have jointly agreed to commence discussions and negotiations.

The vendors shall guarantee a profit after tax of at least RM17.5 million per financial year to be achieved by SGSB for the successive two full financial years upon the completion of proposed regularisation scheme.

they submitted appeal..

Req for extension rejected....

Update on regularization plan should be announced this month

Touched 0.015

Hearing on existing case

Hopefully RA is the chosen one

http://www.investlah.com/forum/index.php/topic,76578.0.html

Y these few days no vol

3mths after MOU

Huge vol but price stagnant

Anything to share AT

Takde pun

growth qoq 641%

Buy

YoY losses reduced...