KUALA LUMPUR- Perwaja Holdings Bhd signing ceremony and hands over of keys with TianJin Zhi Yuan Investment Group Co Ltd, Ballroom 1 Level 2, Intercontinental Hotel, Kuala Lumpur at 1030
I think there are two major obstacles to overcome: Firstly Chinese group needs to do a thorough due diligence on it and must be fully satisfied with it before signing any definitive agreement. What is signed is only MOA. This will take months. Secondly, major creditors' (especially the banks, TNB, Petronas) approval is required on the proposed restructuring scheme on how to repay their debt. So, still a lot of uncertainty and high risks ahead. Just views to share and be cautious.
Very funny to see the talks here. In Malaysia, really everything can happen, all sort of people, even the china investment group of people, what a wonderful cross-borders game. I thought Perwaja had been deleted from Bursa long along since enter PN17 and failed to submit its feasible restructuring plan in 9 months. I thought the board had changed its members and now should be in the process of liquidation. Bursa seem granting extension and extension beyond the reasonable period ? What SC & Bursa is doing ah ? This MOU can deemed as re-structuring plan that keep it live until this announcement ? Can an so-called "international investment group" invest in PN17 ? and to pay RM30m for deposits and RM70m for CAPEX and yet all these subject to bankers, statutory bodies and government approval ? Wow, so good, bankers no need to go for haircut lah, No need to pay first to workers, EPF, SOCSO, TNB, GAS... RM100m enough ? Nevermind, this stock still live by SC & Bursa and wait for phase 2 for another RM200m funded by cash rich china investor.
Aliyusof, CHINAMAN BUSINESS want FAST MONEY + NO OBSTACLES. Can you do that ? MOU only mah, U boleh I boleh. Apa pun boleh mana saja pun boleh. Kita sama sama untung. ok ah.
Just saw Perwaja owed RM2.2B debt to the banks, statutory bodies and trade creditors. I remember either KinSteel / Perwaja did issued Islamic Bond RM100M / RM1Bil ? can someone enlighten me on this ? What RM100m / 300M can really do ? pay interest ? A business that cannot provide positive cash flow over the years hardly can survive, keep on borrowing money is not the way of doing business. A listed company should over the years self-generate its own cash to sufficiently fund its business activities and expansions. Don't use people money RM100-300M while the company still owing RM2.2B external debt. Theirs RM100-300M from china investors group may comes from old farmers, fishery, theirs pensions funds etc.. hoping that they could get back their hard-earned monies and saving one day in the future. Please use it with heart and remember to pay them (all stakeholders) back double. Sad to see, be invest wisely.
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....
Kim
4,346 posts
Posted by Kim > 2015-05-07 10:39 | Report Abuse
U no need to follow who.. ur money u decide