YNH is in messy situation. Purchase/joint venture by YNH subsidiary Kar Sin property with GWP over a piece of land. Original purchase price, $150millo, than adjusted to $170m than adjusted to $259m. ($170m+$89m). Final figure was $170m and $89m TO BE REFUNDED. ???? Now the said land resold to Sunway @$170m while YNH waiting for maybe long time for refund of $89m. Similar case of waiting for refund cases 1. AT system $4.4m full payment for glove factory purchase while under due diligence(first time lousy director do S&P in 2021.NOw 3 years already, no sight of refund. 2. Cepat Plantation directors suka suka write a cheque of $12m for their personal use. Almost 15 years of case management, still no refund. 3. TSH sale of land in Indonesia for $735m, got half of the payment, the other half still not received , almost 16 months after the sale. When, nobody knows. 4. Ekran boss Ting Pek Kim receive $700m from Ekran via MONEY LENDING arms of Ekran. Sure enuf, the $700m is gone till today, after 20 years. (be careful if you see a non finance related company obtaining money lending license)
It is learnt that the raids were conducted around the Tropicana area in Petaling Jaya.
PETALING JAYA: The Securities Commission (SC) is believed to have raided premises of listed companies for suspected abuse of fund-raising activities.
According to well-placed sources, the regulator kicked off the investigations following complaints and tip-offs from the public on alleged fraud, as well as potential false or misleading disclosure by several public-listed companies in their fund-raising exercises, including private placements, employees share option schemes and rights issues.
It is learnt that the raids were conducted around the Tropicana area in Petaling Jaya.
A number of listed companies had taken advantage of relaxed fund-raising rules that were loosened during the Covid-19 crisis. The rules were changed to allow companies to sell up to 20% of their issued share capital via private placements until Dec 31, 2021, compared with 10% previously.
In addition, companies were permitted to issue up to 30% of their existing share capital in a share placement if the shareholders approve the exercise at an EGM.
Naturally, the relaxed ruling attracted numerous small-cap companies to raise fresh cash for working capital and future investments or for new business ventures such as rubber glove manufacturing or distribution of vaccines and Covid-19 test kits.
According to the SC, fresh capital raised from secondary issuance, such as share placements and rights issues, rose 76% year-on-year (y-o-y) to RM8bil in 2020 and another 78.8% y-o-y jump to RM14.3bil in 2021.
Late last year, Bursa Malaysia proposed amendments to the Main Market and ACE Market Listing Requirements to, among others, boost the transparency on fund-raising exercises involving new securities issuance.
The exchange issued a consultation paper seeking public feedback on these proposed amendments.
Interested parties were invited to submit their comments and feedback by Jan 26, 2024.
Among the key proposed amendments include enhanced disclosures in relation to placement exercises, enhancing the employee share scheme framework by subjecting a share grant scheme to the same restriction on the total number of shares issued under a share issuance scheme.
These amendments were proposed probably to tighten the screw on public-listed companies’ fund-raising exercise rules, which were relaxed to help ease cash constraints caused by the Covid-19 pandemic in 2020.
MLAB - Notice of Book Closure MLABS SYSTEMS BERHAD
CONSOLIDATION OF EVERY 20 EXISTING ORDINARY SHARES IN MLABS SYSTEMS BERHAD ("MLABS" OR "COMPANY") ("MLABS SHARES") HELD AS AT 5.00 P.M. ON 3 APRIL 2024 ("ENTITLEMENT DATE") INTO 1 MLABS SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted "Ex - Consolidation” as from: 02 Apr 2024 2) The last date of lodgment : 03 Apr 2024
Remarks :
Participating Organisations are to take note of the following Share Consolidation exercise by MLABS SYSTEMS BERHAD.
The Share Consolidation comprises the following:-
CONSOLIDATION OF EVERY 20 EXISTING ORDINARY SHARES IN MLABS SYSTEMS BERHAD ("MLABS" OR "COMPANY") ("MLABS SHARES") HELD AS AT 5.00 P.M. ON 3 APRIL 2024 ("ENTITLEMENT DATE") INTO 1 MLABS SHARE ("CONSOLIDATED SHARE") ("SHARE CONSOLIDATION")
In relation to the Share Consolidation undertaken by MLAB as a SPEEDS Corporate Exercise, Bursa Malaysia Securities Berhad would like to highlight that:
(a) on or after the Ex-date on 2 Apr 2024, trading of MLAB shares will be based on the newly adjusted share after the Share Consolidation of MLAB shares,
(b) on the basis of settlement taking place after 3 Apr 2024 with consolidated MLAB shares, any entitled shareholder who owns MLAB shares as at Ex-date may sell only up to the maximum MLAB shares he expects to receive after the Share Consolidation, i.e. the reduced amount, on or after the Ex-date 2 Apr 2024.
With the adjustments pursuant to the Share Consolidation effected on MLAB shareholders’ CDS account at the end of the Entitlement Date (“Books Closure Date”), an entitled MLAB shareholder may use the following basis to estimate the maximum number of MLAB shares that he may sell from the Ex-date until the Book Closing Date which is from 2 Apr 2024 until 3 Apr 2024.
Number of MLAB shares that may be sold from 2 April 2024 until 3 April 2024
=
Number of shares held / 20
(All fractional shares computed should be disregarded)
Illustration:
For example, if Mr X owns or purchases 2000 MLAB shares on cum basis on 1 Apr 2024, his CDS account would still show 2000 MLAB shares until 3 Apr 2024. However, as a result of the above Share Consolidation exercise, Mr X’s 2000 MLAB shares in his CDS account will be adjusted to 100 MLAB shares on the night of 3 Apr 2024 which is the Book Closing Date. Therefore, Mr X may, if he so wishes, sells only up to 100 MLAB shares on or after the Ex-date i.e. from 2 Apr 2024 onwards.
Participating Organisations are hereby requested to caution all dealers and remisiers that, during the period from 2 Apr 2024 until 3 Apr 2024, they are only entitled to sell the maximum of 1/20 of the shares owned before the Ex-date. Participants Organisations are reminded that it is important to caution all dealers and remisiers on the above to prevent the dealers and remisiers from overselling of their client’s position.
Announcement Info Company Name MLABS SYSTEMS BERHAD Stock Name MLAB Date Announced 20 Mar 2024 Category Listing Circular Reference Number ILC-20032024-00002
pERANGKAP YG LUMRAH: right issues, share split, esos kpd pengarah2, private placement at depressed prices, last last consol to make the final killing hehe... dulu bekas pm (muhyiddin & sabri), kini pm anwar... berani manipulasi syer lagi ATAUPUN PAKAI TAKTIK YG SAMA? HEHE
Commentary on Prospects The Malaysia economy achieved 3.9% GDP growth for the year 2023 despite the challenging external headwinds throughout 2023; supported by private consumption, recovering tourism industry, and robust domestic labour market. For the current quarter, we are within our expectation with our financial services, and ICT and fintech segments contributing over 80.0% of the Group total revenue. Our trading segment also had achieved better results (about 13.8% of the Group’s total revenue) in this quarter supported by year end festive season. Our ICT segment is in final negotiation stage for a major project in One Northern Hub located in Bukit Kayu Hitam, Kedah, to construct an integrated logistics hub for the Royal Malaysian Customs Department to cater an annual throughput of 200,000 containers along with the warehouses and cross-dock facilities for cargo consolidation and container stuffing. At the same time, the Group will be looking forward to complete the recently approved corporate exercise application to raise up to RM 34.786million that is intended to boost our financial services segment business expansion. The Group remains cautiously optimistic entering 2024 as the Government effort to implement the economy growth under the Madani Economy Framework. The various implementations from strategic developments and flagship projects under the 12th Malaysia Plan Mid-Term Review (12MP MTR), New Energy Transition Roadmap (NETR) and New Industrial Master Plan (NIMP) 2030 will present new opportunities for the Group to tap on.
net asset per share b4 consol = 8.3sen, lepas consol = 20 x 8.3sen = RM1.66 per share kini 22sen - 23sen, how the hidden hand group serap duit retailers hehe
CONSOLIDATED STATEMENT OF CASH FLOWS (CONT’D) Period Ended 31.12.2023 RM’000 (unaudited) 31.12.2022 RM’000 (unaudited) Financing activities Advance from directors - 35 Interest paid (151) (81) Payment of lease liabilities (337) (650) Proceeds from issuance of shares pursuant to exercise of Warrants C * - Net cash used in financing activities (488) (696) CASH AND CASH EQUIVALENTS Net changes (10,822) (16,618) Effects of changes in foreign exchange rate (571) (172) Brought forward 60,883 66,969 Carried forward 49,490 50,179 Cash and cash equivalents at the end of the financial period comprise the following: Cash, bank balances and short-term fund 49,490 50,179
mlab will be a good case study on the impact of share consol for share price... especially all hidden hand stocks. either hidden hand is going to sell its stake or focus on the real biz after the change of govt from muhyiddin and sabri now
1.5mil shares ++ traded.. if u muliply by 20X like pre=share consol, it is proven effective for share consol to boost liquidity/increase jual beli syer
(Reuters) - Mlabs Systems Bhd MLBS.KL : * UNIT ENTERED INTO A JOINT VENTURE AGREEMENT WITH SEACERA BUILDERS * JOINT VENTURE TO JOINTLY DEVELOP PIECES OF MALAY RESERVED LANDS LOCATED AT MUKIM SUNGAI KARANG
Source text for Eikon: ID:nKLSZb2dh Further company coverage: MLBS.KL
Profile of Directors General Tan Sri Dato’ Sri Hj. Suleiman Bin Mahmud RMAF (Rtd)
Malaysian, age 75, Male
Non - Independent Non - Executive Director / Chairman
General Tan Sri Dato’ Sri Hj. Suleiman was appointed to the Board on 14 October 2009. He has joined the Federation Military College in January 1965, and was commissioned into the Royal Malaysian Air Force on 5 August 1965. He did his basic flying training at the RMAF Flying Training School in Alor Setar, graduating in August 1966. He then went on to fly the Alouette III helicopters and in 1967, qualified as a helicopter instructor after completing an instructor’s course in the United Kingdom.
General Tan Sri Dato’ Sri Hj. Suleiman also joined the Federation Military College in January 1965, and was commissioned into the Royal Malaysian Air Force on 5 August 1965. He did his basic flying training at the RMAF Flying Training School in Alor Setar, graduating in August 1966. He then went on to fly the Alouette III helicopters and in 1967, qualified as a helicopter instructor after completing an instructor’s course in the United Kingdom.
General Tan Sri Dato’ Sri Hj. Suleiman has a vast experience as a pilot having flown helicopters, fixed wing transport and fighter aircrafts. He had served as a Squadron Commander of the Sikorsky S-61 Helicopter Squadron and the Dart Herald Transport Squadron. He also flew the C-130H Hercules, the Aermacchi MB-339, the F-5E and the CN-235-220.
Throughout his career, General Tan Sri Dato’ Sri Hj. Suleiman has been assigned to several staff and operational appointments, and of importance was his appointment as the Director of Armed Forces Development Plans in the Malaysia Armed Forces Headquarters. In 1989, he was appointed the Base Commander of RMAF Base, Butterworth, a Fighter Operational Air Base. Later, he was assigned as the Commander of the RMAF Air Training Command. He was then promoted to Brigadier General RMAF and took over command of No. 1 Air Division, an Air Defence (and Fighter) Command. He later moved to the post of Brigadier General Staff (Operations) at the Air Force Headquarters in Kuala Lumpur. On his promotion to Major General RMAF in June 1994, he was appointed as the Chief of Staff Operations and later on, was assigned as the Chief of Staff Policy and Plans. In August 1996, he assumed the post of the Deputy Chief of Air Force, and was upgraded to the rank of Lieutenant General RMAF on the same post, in June 2000.
General Tan Sri Dato’ Sri Hj. Suleiman was promoted to the rank of General RMAF and assumed the appointment of the Chief of the Royal Malaysian Air Force on 11 June 2001. He retired on 4 June 2003 at the age of 56.
Mejar Dato’ Ismail Bin Ahmad (Retired)
Malaysian, age 73, Male
Non-Independent Non-Executive Director
Mejar Dato’ Ismail Bin Ahmad (R) was appointed to the Board on 14 October 2009 as Executive Director of the Company. On 31 December 2019, he was redesignated as Non-Independent Non Executive Director of the Company. He served in the Malaysian Army for 17 years and attended courses both local and overseas and held various appointments in service. In 1983, he joined Perwira Niaga Malaysia (Pernama), a wholly-owned subsidiary of LTAT, a wholesale and international trading company.
His last position in Pernama was Deputy General Manager before he left in 1999. He was the CEO of Odasaja Sdn. Bhd. in December 2002. He is now with Tegap Dinamik Sdn. Bhd. and several other companies, involved in projects, constructions and various infrastructures.
Ong Tee Kein
Malaysian, age 65, Male
Non-Independent Non-Executive Director
Mr. Ong Tee Kein was appointed to the Board on 13 January 2010 as an independent director, re-designated as Executive Director on 15 April 2010 and re-designated as Non-Independent Non-Executive Director on 31 December 2019.
He has several years of experience in industry and consultancy practice. After qualifying as an accountant in the United Kingdom, he joined a management consultancy practice specializing in providing advisory services to governments and international funding agencies. He subsequently joined the corporate advisory division of an international accounting firm and was involved with various corporate restructuring exercises.
Joe pun dah naik banyak post share consol. Wait4hidden hand gang gameplay
Share Consolidation JOE HOLDING BERHAD
Entitlement subject Share Consolidation Entitlement description CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN JOE HOLDING BERHAD ("JOE" OR '"COMPANY") ("JOE SHARE(S)" OR "SHARE(S)") INTO 1 JOE SHARE ("SHARE CONSOLIDATION") Ex-Date 20 Oct 2023 Entitlement date 23 Oct 2023 Entitlement time 5:00 PM Financial Year End 31 Mar 2024 Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlement a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers 23 Oct 2023 b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. Number of new shares/securities issued (units) (If applicable) Entitlement indicator Ratio Par Value (if applicable) Entitlement Details Company Name Ratio (New : Existing) Available/Listing Date Fractional Entitlement JOE HOLDING BERHAD 1.0000 : 10.0000 24 Oct 2023 Round Down / Fraction Disregard
Registrar or Service Provider name, address, telephone no WORKSHIRE SHARE REGISTRATION SDN BHD A3-3-8, Solaris Dutamas No. 1, Jalan Dutamas 1 50480 Kuala Lumpur Wilayah Persekutuan Malaysia Tel:03 64133271 Fax:03 64133270
Remarks : The Share Consolidation involves the consolidation of every 10 JOE Shares held as at 5.00 p.m. on 23 October 2023, being the entitlement date for the Share Consolidation, into 1 JOE Share ("Consolidated Share(s)").
The actual number of Consolidated Shares will be determined based on the total number of issued shares of the Company on the entitlement date for the Share Consolidation.
Fractional entitlements arising from the Share Consolidation, if any, shall be disregarded and dealt with by the Board of Directors in such manner at its absolute discretion as it may deem fit or expedient and in the best interest of the Company.
The Consolidated Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 24 October 2023, being the next market day following the entitlement date for the Share Consolidation.
The notices of allotment of the Consolidated Shares will be issued and despatched to the entitled shareholders of the Company within 4 market days after the date of listing and quotation of the Consolidated Shares on the Main Market of Bursa Securities.
The Share Consolidation will result in a reduction in the number of JOE Shares available in the market and the trading price of the JOE Shares will be adjusted accordingly in proportion to the basis of the Share Consolidation. The shareholders of the Company are strongly advised to trade cautiously to prevent overselling of their position in respect of their JOE Shares.
This announcement is dated 6 October 2023.
Announcement Info Company Name JOE HOLDING BERHAD Stock Name JOE Date Announced 06 Oct 2023 Category Entitlement(Notice of Book Closure) Reference Number ENT-06102023-00001 Corporate Action ID MY231006SPLR0001
AUDIT COMMITTEE Chairman Chuah Hoon Hong Member Mejar Dato’ Ismail bin Ahmad (R) Professor Emeritus Dr. Sureswaran Ramadass NOMINATING COMMITTEE Chairman Professor Emeritus Dr. Sureswaran Ramadass Member Mejar Dato’ Ismail bin Ahmad (R) Chuah Hoon Hong REMUNERATION COMMITTEE Chairman Professor Emeritus Dr. Sureswaran Ramadass Member Mejar Dato’ Ismail bin Ahmad (R) Chuah Hoon Hong OPTION COMMITTEE Chairman Ong Tee Kein Member Tan Sik Eek Chuah Hoon Hong
Razif Mohar (“Razif”) Malaysian | Male | 59 PROFILE OF HEAD OF BUSINESSES – IKHLAS AL DAIN He acts as Head of Factoring of Ikhlas Al Dain Sdn. Bhd.. He possesses a master’s degree in Business Administration (MBA) from Universiti Technologi Mara (UiTM). Razif has over 30 years of experience in the banking and financial sector. He started his career in a managerial position at Maybank as Head of Dealer & Receivables Financing. During his tenure at Maybank, Razif and his team were tasked to perform due diligence for the bank’s branch operations in the Philippines and Indonesia. He also conducted a feasibility study on automotive financing products for Maybank in Jakarta, Indonesia. Razif was one of the pioneers in setting up Ikhlas Al Dain Sdn. Bhd..
Here’s an overview of our business segments within the Group:- • Investment and holding of investment properties • Network Integration • Data Center Build & Solution • Cybersecurity • Collaboration • Cloud computing & Co-Location • Microsoft Solution • Performance Optimisation Inbase Partners • Blockchain & Digital Assets Advisory Services • Fintech Technology Research and Development • High-Frequency and Quant Trading Solutions • Investment Managed Account Services • Software Application Development • Trading of Precious Metals • Branding • Digital Marketing • Online Media Portal • Offline Marketing • Business Events Organiser • Seminar and Training Organiser • Trading of kitchen equipment and related products • Private fine-dining services • Information technology related services • E-Commerce • R&D and Provisioning of Digital Business Card (Mobile Application) • Application and Web Development • Invoice Factoring • Leasing • Development Finance • Building Credit Winelouvre • Trading of alcohol product
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Post removed.Why?