Beware of white killer shark.... PN17 coming!

Baby shark doodoodoodoo....baby shark....

TikTokTikTokTikTok .... You are running out of time Mike.

Hidup BenBen!!! Sedap makan Kepsi Hari Raya ni....

Mike Chong, you think you done enough research so you are qualified to bark everywhere? Seriously on Zelan fundamental? You think you done "enough" research will save this company from becoming PN17? Seriously?

Wake up Mikey.... Wake up!!!! TikTokTikTok

Mike Chong, so you think you done enough research thus you are qualified to bark everywhere? Seriously on Zelan fundamental? You think you done "enough" research will save this company from becoming PN17?

Hey Mikey... Glad you come join Ranger Jaya boat. This one is much more secure than sinking with Zelan there. Welcome to Cuscapi Mikey!

Pn17 coming.... Run fast fast!

BenBen got a surprise for all of us tomorrow. Stay tune with the final Q result.

Trading suspended again due to SME bank demand for payment....

Good luck to those holders....

KUALA LUMPUR (May 29): Tile manufacturer Seacera Group Bhd is confident of lifting its Practice Note (PN17) status after the newly-appointed board of directors rolls out its regularisation plan in the near future.

Executive director Shirley Tan Lee Chin said the seven directors appointed at the extraordinary general meeting (EGM) today, including herself, were expected to propose a series of exercises at their first board meeting, anticipated to take place in one or two weeks’ time.

“They have plans to go for fundraising proposals to pare down the bank borrowings and to sell unutilised assets for cash to make the company stronger.

“Moving forward, there is some business in quarry which the new board is very confident could enhance the value of the company and generate profit,” she told a press conference after the company’s EGM here today.

She added that the discussion on the regularisation plan would take about six to eight months before the outcome materialised.

However, Tan did not provide a specific timeline as to when the PN17 status would be lifted.

“(This is because) the company needs to show at least two quarters of profit performance in order to [lift] the PN17 status,” she said.

Seacera, which was classified as the PN17 company last month after it defaulted on the payment of principal and profits to AmBank Islamic Bhd and not being able to provide a solvency declaration to Bursa Malaysia Securities.

The company recorded a net loss of RM43.13 million in the financial year ended Dec 31, 2018, from a net profit of RM8.92 million in the previous year.

Meanwhile, Tan said an announcement on the group’s new managing director would also be made after the first board meeting.

In a filing with the exchange today, Seacera said its group managing director Zulkarnin Ariffin had resigned today due to personal reasons.

Zulkarnin’s resignation took place a day after the company announced that the High Court had dismissed its injunction application to restrain a proposed EGM by Datuk Tan Wei Lian, the single largest shareholder who holds over a 16% stake in the company.

Besides Tan, the board members appointed at today’s EGM are Rizvi Abdul Halim, Datin Ida Suzaini Abdullah, Clarence Yeow Kong Chew, Chua Eng Chin, Marzuki Hussain and Ong Eng Taik.

According to Tan, 200 shareholders turned up to the EGM today, 87% of whom voted to pass all the resolutions.

Mikey... U won't be too far from belanda investing heavily in Zelan.

PN17 coming soon Mikey.... BoChowSeeeeee!

Lari kuat kuat lo...

0.150 coming....

Runnnnnnn......

Once 0.170 broken... heading down to 0.150 for final destination! Brace for impact with Ranger Jaya....

Reference is made to announcements dated 26 September 2018, 28 September 2018, 29 October 2018, 15 April 2019 and 30 April 2019.



Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.



The parties attended Court on 13 May 2019 and 14 May 2019 for the hearing of the following:



(a) Striking Out Application By HCS (i.e. Her Chor Siong);



(b) Striking Out Application By Hitachi Singapore And OCH (i.e. Ong Chin Hui); and



(c) Summary Judgment Application By Hitachi Singapore.



The Striking Out Application By HCS and the Striking Out Application By Hitachi Singapore and OCH have been dismissed by the Court with costs in the cause.



As for the Summary Judgment Application By Hitachi Singapore, conditional leave to defend the action is granted to the Companies provided on or before 28 May 2019 (“due date”), a deposit of USD3,600,248.22 (equivalent to RM15,014,835.20 - based on Bank Negara Malaysia’s USD Exchange Rate @ USD1.00 = RM4.1705 as at 14 May 2019) is paid by the Companies into an Interest-Bearing Fixed Deposit Ringgit Account in Standard Chartered Bank Malaysia Berhad pending the disposal of the Companies’ Counterclaim. The said fixed deposit account plus any interest accrued thereon shall not be uplifted or closed or dealt with by the Companies in any manner whatsoever without an Order of the Court and further the sealed copy of the Order of the Court shall be served on the said bank. In the event of non-payment of the said sum by the due date, the judgment as prayed for in the Summary Judgment Application By Hitachi Singapore shall be entered against the Companies.



The Companies will take all necessary steps to comply with the said direction from the Court.



The application for interrogatories by the Companies against Hitachi Singapore is withdrawn with costs in the cause.



The Court has fixed 28 May 2019 for the final case management; and 10 June 2019 to 12 June 2019 for trial.



Cuscapi will make the necessary announcements on material development in respect of this from time to time.



This announcement dated 15 May 2019.

Comfort still can load meh?

I am warning others not to fall into the trap you set up...

Mike.... PN17 coming.... Stay alert!

TikTokTikTok....

Imformed... Paging Imformed... You sempat jual? Told you right... Don't be ignoring the announcement...

Q report coming..... Hidup BenBen!

tik tok tik tok tik tok....

Mike.... Sudah jual? Lari kuat kuat lo....

Hello Mike Chong! You bought your ticket? Share with us the weather in Belanda soon you touch down..... Cheers mate!

Imformed.... So now no more MACC? Lol... Pity u got stuck at high but be patience.... Soon the price will rise to Rm1.00....

You're welcome cheektan. I agreed whatever in appendix II are something positive for Cuscapi but then auditor doesn't see it the way we see as they were questioning the rationale behind these acquisition.

AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN : QUALIFIED OPINION |

https://www.klsescreener.com/v2/announcements/view/29045590

Read appendix 2 attached to the announcement....

Read the appendix.... There's more than the litigation issue. It is not common for an external auditor to issue qualified opinion to Bursa if it is not serious.

Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Cuscapi Berhad (“Cuscapi” or “the Company”) wishes to announce that the Company’s External Auditors, Messrs. Baker Tilly Monteiro Heng PLT had expressed the following qualified opinion in the Company’s Audited Financial Statements for the financial year ended 31 December 2018:



A. QUALIFIED OPINION



The details of qualified opinion as disclosed in the Independent Auditors’ Report is reproduced below:



Qualified Opinion



We have audited the financial statements of Cuscapi Berhad, which comprise the statements of financial position as at 31 December 2018 of the Group and of the Company, and the statements of comprehensive income, statements of changes in equity and statements of cash flows of the Group and of the Company for the financial year then ended, and notes to the financial statements, including a summary of significant accounting policies, as set out on pages 8 to 119.


In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying financial statements give a true and fair view of the financial position of the Group and of the Company as at 31 December 2018, and of their financial performance and cash flows for the financial year then ended in accordance with the Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia.



Basis for Qualified Opinion



We draw your attention to Note 37(a) to the financial statements, that discloses the circumstances and consideration of the Directors in reporting the carrying amount of the REV hardware equipment included in Property, Plant and Equipment of RM6,615,101 and Inventories of RM15,451,976.



We were unable to obtain sufficient appropriate audit evidence on the said amount of Property, Plant and Equipment and Inventories, as the Group is unable to reliably assess the recoverable amount of the said Property, Plant and Equipment in accordance with MFRS 136: Impairment of Assets and the net realisable values of the inventories in accordance with MFRS 102: Inventories due to the circumstances and consideration disclosed under Note 37(a) to the financial statements. Consequently, we were unable to determine whether any adjustments to these amounts were necessary.



We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Group and of the Company in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.



Please refer to the attachment as annexed herewith under Appendix I in respect of the Notes 37(a) of the audited financial statement for the year ended 31 December 2018.



B. STEPS TAKEN OR PROPOSED TO BE TAKEN TO ADDRESS THE KEY AUDIT MATTERS THAT RELATES TO THE MODIFIED OPINION



The Directors of the Company will continue to monitor the legal suit (Suit No. WA-22NCC-399-09/2018) outcome closely and make necessary adjustment on the recoverable amount of the said Property, Plant and Equipment in accordance with MFRS 136: Impairment of Assets and the net realisable values of the inventories in accordance with MFRS 102: Inventories based on the Courts' decision once available.



C. TIMELINE



Barring any unforeseen circumstances, the Group expects to resolve the issue relating to the Modified Opinion above within 12 months from the date of this announcement.



D. ALL KEY AUDIT MATTERS DISCLOSED IN THE EXTERNAL AUDITORS’ REPORT



Please refer to the attachment as annexed herewith under Appendix II.



This announcement is dated 30 April 2019.

Oh my god... coming back here to check on oranje.... What happened to Seacera after oranje promoting non stop? oranje u OK lagi?

read before you comment here

Imformed, don't let people read this comment from you.... It shown your ignorance on the public announcement made to Bursa on daily basis. Stay focus if you want to consistently survive in the share market, don't just read the chart, the chart may tell you the best entry & exit but the FA is equally important. Read more Imformed... Read!!!

You are warned to clear your holding before the next big wave-PN17 announcement coming very very soon.

Audited report shown additional rm13.6million loss from the previous unaudited report.

PN17 coming....

Hidup BenBen!

Once enter PN17... U are given 12months to revive the company in order to exit, if not... U get delisted. Good luck traders!

Next on the list after Seacera - PN17 coming.... Stay alert!

Thursday & Friday will see price drop further due to this auditing issue. Shall see if Ranger Jaya can provide proper explanation related to the few questionable matters from Tilly Baker....

Cuscapi kena "qualified opinion" from their external auditor-Tilly Baker.... Not looking good on Ranger Jaya.....

Last 2 weeks got Grab now got AirAsia..... Lol!!!

OCR limit up tomorrow morning....

PETALING JAYA: QSR Brands (M) Holdings Bhd is tight-lipped on its new listing date after its shareholders and directors decided to postpone its initial public offering (IPO) on Bursa Malaysia.

Despite rumours claiming that the IPO would be relaunched in the fourth quarter of 2019, managing director Datuk Seri Mohamed Azahari Kamil declined to confirm it, saying the announcement would be made at an appropriate time.

Meanwhile, he said looking at the industry's growth, the potential for KFC and Pizza Hut operations remained tremendous.

"So the plans for expansion is ongoing," Mohamed Azahari said, adding that the company was also developing digital payment kiosks as part of its digitalisation exercise.

Read more at
https://www.thestar.com.my/business/business-news/2019/04/19/qsr-brands-still-mum-on-new-lsiting-date/#bh7gug4BcoC6Y0aR.99

QSR IPO confirmed delayed.... Not good la like that...

Hidup BenBen!

Hidup BenBen!