2Q2014 results of both Perwaja and Kinsteel are published in Bursa website last Friday. Kinsteel needs to lose a further RM10 mil to trigger it being placed under PN17 (shareholder fund falls below 50% share capital). It will surely happen by 3Q2014 results. Perwaja lost record RM 921mil (1/1/2013 to 30/6/2014), negative shareholder fund RM 525m, loss per share RM 1.64, negative net asset per share RM 0.94! Kinsteel lost RM421 mil in last 18 mths is, loss per share RM 0.40, net asset per share RM 0.11, bank borrowings RM 2.0B and trade creditor RM 800m. Still want to buy or hold these shares?
Najib withdraw 100 million from EPF to save PERWAJA....that money 100million is your and my money ....corruption government must change ...if not ....Malaysia will colapse
Shame ..... a public listed company also do this to the employees.
The Board of Directors of PHB (“Board”) wishes to announce that Perwaja Steel Sdn Bhd (“PSSB”), a wholly-owned subsidiary of PHB had on 1 September 2014 received a Writ of Summons dated 13 August 2014 and Statement of Claim dated 11 August 2014 from Lembaga Kumpulan Wang Simpanan Pekerja (“KWSP”).
KWSP has named PSSB and nine (9) directors of PSSB as Defendants in the suit. KWSP is claiming for a total sum of RM4,627,852.00 from PSSB, for outstanding employees contribution and for dividend and interest accrued on the outstanding sum to be assessed by the Court from the date of default up to the date of full settlement, and all relevant legal costs incurred in relation to the suit.
Refer today announcement to Bursa by Kinsteel and Perwaja. Cannot release audited account on 31 Oct set by Bursa. Both counters will be suspended from trading in Bursa on 10 Nov if still cannot release it this week end. Serious audit issues (disclaimer of opinions?)...be extra careful
If i were u, i will sell it before Friday. But do expect from today till Friday it may a little move up and down +- 1 or 2 cents as they are always some who want to speculate on it, regardless of its fundamentals. But looking at the development of this counter past 1 year and their financials and inability to submit audited account for 4 months (this tell u something very bad), i believe its final destiny is either suspension or delisting (i.e. zero value). U have to make your own decision. Above opinion is for reference only. Good luck.
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....
beruang emas
984 posts
Posted by beruang emas > 2014-08-30 23:48 | Report Abuse
Do u think it is possible for perwaja to privatise same as mas?