Hi, Mr. Nemesis.
Please note that your facts are incorrect. FYI MK Land did not sell land to Empire Mammoth. Kindly refer to the announcement made on 25-05-2010 attached herewith.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/69858
When you attend their AGM, make sure to ask them where is the RM243,957,780.00 supposed to be paid to MK Land's subsidiary Saujana Triangle Sdn. Bhd. under Clause 5(D) of the Joint Venture Agreement dated 25-10-2010 ("JV Agt"). Under the JV Agt the said sum is to be paid within 24 months from the date of the JV Agt. and as there is no announcement to Bursa that the payment has been completed.

I'm a newbie and have bought 30000 shares in Asiabio at 11.5 sen in Sept 2013.
As per the announcement to Bursa, the company announced as follows:-

" announcement dated 26 March 2013, wherein the Board had announced that the Disposal was completed on 26 March 2013 following the approval of the shareholders of BIP during the Extraordinary General Meeting held on 25 March 2013 with a revision to the number of shares to be issued as consideration. Pursuant thereto, the vendors of PNSB had executed supplemental documents wherein AsiaBio will receive 21,018,714 BIP Shares (“Amended Agreement”) which Total Platinum Holdings Sdn Bhd, the main promoter of PNSB having a 12-month option to acquire the BIP Shares at a price of 0.06 per share i.e. a total consideration of 1,261,123 (or RM 5,873,049 based on an exchange rate of 1:RM4.657) (“Option Agreement”).

On 14/10/2014 the Company announced to Bursa as follows:-

"We wish to announce that the Company has on 14 October 2013 received a notice from Total Platinum Holdings Sdn Bhd (“TPHSB”), the main promoter of PNSB, for the termination of the call option agreement that was previously executed between TPHSB and the Company on 18 February 2013. With the termination of the call option agreement, TPHSB will no longer have the 12-month option to acquire the 21,018,714 new ordinary shares of GN issued to the Company pursuant to the Proposal, at the price of 0.06 per share".

With the termination of the call option agreement, Asiabio now owns 21,018,714 shares in Graphene Nanochem PLC (formerly known as BIP) (listed in the London Stock Exchange). BIP share is now traded in the region of 1.03 to 1.05 pounds per share.

Base on the above, am I correct to say that if Asiabio is to dispose of all the 21,018.74 shares in BIP, the company will have pocketed approx RM101 million (21,018,714 shares X 1.03pounds X RM4.657) then why the need to propose for rights issue. Can any expert enlightened me on this if I'm wrong.

As I’m unable to attend the EGM on 28-2-2014 hope the shareholders concerned to bring up the matter with the Board