28/12/17 the company has announced a new shares issue to relevant investors. Issue price to be determined by the method of calculating the average price for the last five days of trading prior to the day of price fixing. Prior to this the company had also completed a new shares issue in October 2017. Issue price was above 0.025 (not mistaken was around 0.026). Can refer from company announcement in bursa website.
Compugates: In JV for RM775m mixed development in Dengkil. Compugates Holdings said its wholly-owned unit Compugates Development and Mining SB (CDMSB) will jointly develop a 25.09ha agriculture land in Dengkil, Selangor, with Jade Classic SB. Compugates said CDMSB has entered into a conditional joint venture agreement with Jade Classic to undertake a potential mixed development on the land. Based on preliminary plans, the land is proposed to be developed into a mixed development, subject to the approval of the authorities, comprising 500 houses, 1,100 Rumah Selangorku homes and four blocks of 600 units of high rise mixed residential and commercial units, Compugates said. (The Edge)
The net assets per share remain at RM0.05 per share. Despite the devaluation in the market value of the Land, it will not have any impact on the Joint Venture Agreement with Jade Classic Sdn Bhd (“JCSB”) signed on 28 November 2017 as Compugates had received a Letter of Undertaking on 14 February 2018 from JCSB to accept and undertake to develop the Land on an “as is where is basis and with vacant possession”. As announced earlier on 14 February 2018, the Developer has inspected and examined the said Land and shall undertake the development as per the terms and conditions of the Joint Venture Agreement and bear the entire cost and expense including to get the land to be filled and ready for development on the said Land in accordance with the relevant approvals and the layout and building plans to be approved and applying and obtaining the relevant approvals and licenses from the relevant authorities in connection with the said Land into a commercial or residential or mixed commercial and residential estate on the said Land.
the share floating are too quite too big for this kind of company... better do consolidation... news also cannot move the company, is it going to be delist? slowly down then disappeared
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....
Orson Chin
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Posted by Orson Chin > 2018-01-05 17:38 | Report Abuse
Stncws... apa 700mil project ?