"The winding-up petitions against the companies mentioned in the aforesaid article have no material impact on W T K Holdings Berhad."
Hmm, not affected I see.
"As the aforesaid article may give rise to the erroneous impression that Ma is seeking orders to wind-up “subsidiaries..…of WTK Holdings”, the management of W T K Holdings Berhad will be requesting The Edge Malaysia to publish a clarification in their next publication."
Oil and Gas Oil and Gas division registered a revenue of RM12.2 million, representing an increase of RM0.4 million, as compared to 1Q2016’s revenue of RM11.8 million. Its revenue was mainly derived from vessels’ charter fees through Alanya Marine Ventures Sdn Bhd.
Its loss before tax stood at RM9.6 million in the current quarter as compared to 1Q2016’s loss before tax of RM0.7 million. The loss was due to the share of loss of its associate company, which vessels were off-hired due to temporary project deferments and adverse weather conditions. The loss was attributed to the associate company having to continue to incur charter fee and operation costs to maintain the vessels in the ready state of deployment.
firehawk, which part you find surprising? WTK ventured into O&G in the second half of 2014. If you recalled, that's when the O&G plunged. Can only say their timing was terrible.
@firehawk - As mentioned above, O&G division remain stalemate and incurred losses, until Petronas gives a nod on further expenditure.
O&G will not last low price indefinitely. 3 years has already passed. As with any cycle, at some point of time, what comes down must go up. Actually, the contribution of O&G is not so significant to WTK. Their main focus is timber division.
@hustle - And yes, I agree WTK is over-diversified. How I wish someone could advice the management in the AGM to restructure the company and cut down unprofitable business.
@steve - You should already knew this. It's in the annual report. I've even written about it. How can you buy a stock without knowing about your stock? It's like going to the hospital for an operation without checking the doctor's background.
OTHERS W T K Holdings Berhad -Clarification on article appearing in The Edge Malaysia on 5 June 2017 entitled "Winding-up petition filed in bid to end WTK family feud"
The Board of Directors of W T K Holdings Berhad is pleased to announce that the production figures of the Group for the month of May 2017 were as follows:
Sarawak may need foreign investors to upgrade timber industry — Awang Tengah
KUALA LUMPUR: Sarawak Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said the state may need to work with foreign investors to upgrade its timber industry.
“At the moment, most of the players in the timber industry are based in Sarawak. They are mostly involved in the upstream segment but are now going towards the downstream segment for plywood and other timber products.
“We would like to enhance the timber industry and our timber products. We may have to collaborate with other investors, especially from Japan, South Korea and China, which are the traditional buyers for the timber products,” he said yesterday at a press briefing on the 13th World Islamic Economic Forum (WIEF), which will be held in Kuching, Sarawak, from Nov 21 to 23.
He added that the state is also looking at expanding Sarawak’s furniture industry, which is still very small, despite the state’s abundant timber resources.
Awang Tengah said the state needs to start off with getting one renowned anchor company for the furniture industry to kick it off.
Besides developing the timber industry, Awang Tengah reiterated that the state is in the midst of a long-term transformation plan, which will also involve the manufacturing and tourism industries, as well as the setting up of a halal hub.
He added that the state government also plans to expand the oil and gas sector, with plans to turn Bintulu into a petrochemical hub.
Meanwhile, WIEF Foundation chairman Tun Musa Hitam said Sarawak was picked mainly for its drive to develop its digital economy, which was in line with the forum’s theme of “Disruptive Change: Impact and Challenges”.
“I’m very impressed with their emphasis on the digital economy because that’s the way to go. That’s the immediate future. We are now talking about artificial intelligence, driverless cars and all sorts of other things, and the focus has to be on the digital economy,” he said.
Awang Tengah added that Sarawak is going “full-gear” in preparing to embrace the digital economy, highlighting the fact that the state government had committed RM1 billion for ICT infrastructure upgrades.
“The mode of implementation [for the RM1 billion allocation] is still to be decided, but what is obvious is the commitment of the government to improve the ICT infrastructure,” he said.
“We are really looking forward to host the 13th WIEF in Sarawak. To me, this is a golden opportunity to promote Sarawak and what we can offer in relation to investment and business opportunities,” he added.
Finally, the oil mill start to produce crude palm oil.... Very good log and FFB production for July 2017.
The Board of Directors of W T K Holdings Berhad is pleased to announce that the production figures of the Group for the month of July 2017 were as follows:
Consolidated profit before tax For the current year to date, the Group’s revenue has increased by 3.1% or RM15.45 million to RM508.48 million, as compared to RM493.03 million for the corresponding period last year. The increase in revenue was due to higher average selling price as the Group emphasis more on high premium products. Profit before tax was registered at RM27.49 million for the current year to date, decreased by 40.2% or RM18.51 million compared to profit before tax of RM46.00 million recorded in the corresponding period last year. The decrease in profit was mainly due to higher log and glue cost and scheduled plants shut down for maintenance during the Ramadan festive period.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
dompeilee
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Posted by dompeilee > 2017-06-07 16:24 | Report Abuse
Bought more @ 92c