investor99, thanks for the advise. :) I din chase high. What i hope is that the LIONIND's "bullishness" will help to improve both LIONCOR & LIONDIV performance.
The request to extend until 31/3 (submitted on 29/1) still yet receice any reply. From observation, request for pn17 extension is normally 3months. But recent submission only 2months. May be should be optimistic (my guess only, no solid point support). This is not a recommendation to buy/hold/sell. Haha.
investor99, u r right. May be it is meaningless, but there still some figures for us to understand more on Megasteel/steel industry as of 2012: -There are 4 CRC producers, 2 steel plates makers, 5 coated steel producers, 26 steel pipes manufacturers and 21 steel service centres in Malaysia. -“We have a HRC capacity of about 3.2 million tonnes but a current utilisation of 1.2 million tonnes or less than 40% capacity.” -“We are using direct reduced iron and iron ore based scrap to produce grades of quality required by customers in the automotive inner parts, oil and gas and the pipes sector. -“So far, we have no problem supplying to the overseas market, but it is ironic why a few locals would question our product quality,” he added. -“Local producers can supply 80%, or 2.4 million tonnes of what these manufacturers are importing,” -“If we can get back to the 2007 levels of 200,000 tonnes per month, we can turn around. Now we are at 80,000 tonnes per month,” - RM40bil steel sector and many more..
5 October 2015 (OTHERS: REGULARISATION PLAN) http://www.bursamalaysia.com/market/listed-companies/company-announcements/4885469 On behalf of the Board of Directors of the Company, SJ Securities Sdn Bhd (“SJ Securities”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had vide its letter dated 5 October 2015 (“Bursa’s Letter”) granted the Company an extension of time up to 31 January 2016 to submit the Regularisation Plan to the regulatory authorities. The Bursa’s Letter also stated that Bursa Securities’ decision is without prejudice to its right to proceed to suspend the trading of the securities of the Company and to de-list the Company in the event: (i) the Company fails to submit the Regularisation Plan to the regulatory authorities on or before 31 January 2016; (ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its Regularisation Plan; or (iii) the Company fails to implement its Regularisation Plan within the time frame or extended time frames stipulated by Bursa Securities. Upon occurrence of any of the events set out in (i) and (iii) above, Bursa Securities shall suspend the trading of the listed securities of the Company upon the expiry of five (5) market days from the date the Company is notified by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
29 January 2016 http://www.bursamalaysia.com/market/listed-companies/company-announcements/4990269 On behalf of the Board of Directors of the Company, SJ Securities Sdn Bhd (“SJ Securities”) wishes to announce that SJ Securities had on 29 January 2016 submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time from 31 January 2016 to 31 March 2016 for the Company to consider options for any Regularisation Plan.
IF "no Regularisation Plan" and "no more extension": Bursa Securities shall suspend the trading of the listed securities of the Company upon the expiry of five (5) market days from the date the Company is notified by Bursa Securities and de-list the Company, subject to the Company’s right to appeal against the delisting.
Sharkeatapple, agree with u that lioncor can request for extend but high percentage bursa will not entertain if summit request after the due date. as per request by Lioncor extend until 31.3.2016,this 31.3.2016 is requested by Lioncor, if request for extend again, then really wordless , correct ?
Investor99, totally agree with u. Somemore no official reply on the decision for the request for extension until 31.3.2016. May b big angpow (announcement today) waiting for u. Worst case is "request for extension" again. Will it b entertained or not is another issue already.
last month PN17 monthly announcement made on 1st March 2016:
The Board of Directors of the Company wishes to announce that the application to Bursa Securities for an extension of time up to 31 March 2016 for the Company to consider options for any Regularisation Plan is still pending a decision from Bursa Securities.
So today (1st April 2016) will have big announcement or not??
If this is delisted..it will become worthless With its huge debt..and losses each year - it is more likely that it will be approaching delisting/bankruptcy status very soon unless it found a white knight..who/which is like pumping in money and throw good money into the drain
Correct, kk123. Investor99, we expected there is announcement made yesterday but not happened. And today is overdue as the request for extension is until 31.3.16. Seems like the chance is tiny.
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Posted by sharkeatapple > 2016-03-15 09:57 | Report Abuse
investor99, thanks for the advise. :)
I din chase high.
What i hope is that the LIONIND's "bullishness" will help to improve both LIONCOR & LIONDIV performance.