Established co per Angrykuku. And group. Head honcho has reputation to uphold. External factors causing the slump but should be able to overcome, hopefully sooner than later. I wait see the RP.
this evening's announcement says the Regularisation Plan is still being formulated, that the BOD has up to 25Oct to submit the RP, and will therefore apply to Bursa to seek an extension for the submission.
We refer to the First Announcement dated 25 October 2013 made by the Company in relation to the Company being classified as a PN17 Issuer and the announcement dated 4 November 2013, 2 December 2013, 2 January 2014, 24 January 2014, 4 February 2014, 3 March 2014, 1 April 2014, 2 May 2014, 2 June 2014, 1 July 2014 and 1 August 2014 pursuant to the requirements under PN17 (“Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements.
The Board of Directors of the Company hereby announce that the Company has up to 25 October 2014 to submit a plan to regularise its financial condition (“Regularisation Plan”) to the relevant authorities for approval and in view that the Company is still formulating the Regularisation Plan, the Company will submit an application to Bursa Malaysia Securities Berhad for an extension of time for the Company to make the submission of the Regularisation Plan.
They could be strategising at group level - LIONCOR, LIONIND, LIONDIV, LIONFIB because steel and property are common to some of them. Hence the delay. Just a possible reason.
L2: no problem, just share my view. Never trust too much what mentioned in the news as i believe big crocs always like to create news to scare small investor away to take advantage. :)
We refer to the First Announcement dated 25 October 2013 made by the Company in relation to the Company being classified as a PN17 Issuer and the announcement dated 4 November 2013, 2 December 2013, 2 January 2014, 24 January 2014, 4 February 2014, 3 March 2014, 1 April 2014, 2 May 2014, 2 June 2014, 1 July 2014, 1 August 2014 and 2 September 2014 pursuant to the requirements under PN17 (“Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements.
The Board of Directors of the Company hereby announce that the Company has up to 25 October 2014 to submit a plan to regularise its financial condition (“Regularisation Plan”) to the relevant authorities for approval and the Company had on 1 October 2014 submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time from 25 October 2014 to 30 June 2015 for the Company to make the submission of the Regularisation Plan to the relevant authorities.
Revisiting the 8May CIMB article above : "Lion Corp : Throw us a bone", it seems the man has 4bn ready to turn the co into the black in a mere 3 mos. So, maybe he is waiting on the govt still?
Probably a VIP customer of TNB, this LionCor, LionInd & LionDiv, esp their respective steel divisions. The group should collectively be able to nego a vlow tariff. Take a leaf out of PMetal's world-low preferential tariff from Sarawak's huge HEP grid for their Mukah and Bintulu plants.
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Angrykuku
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Posted by Angrykuku > 2014-08-22 16:14 | Report Abuse
I sapu alot today. Got good news coming soon. Have faith in this established company..