The only area the Management need to address is their construction division, once they managed to lower the costs and subsequently improve their profit margin, coupled with additional construction order, the stock will fly.
HO HUP CONSTRUCTION COMPANY BERHAD (HO HUP OR COMPANY) PROPOSED ACQUISITION BY HO HUP VENTURES (JOHOR) SDN. BHD. (HHVJ OR PURCHASER), A SUBSIDIARY OF HO HUP, OF 70% EQUITY INTEREST IN INTACT CORPORATE APPROACH SDN. BHD. (ICA) FROM I4G INTELLIGANZ SDN. BHD. (I4G OR VENDOR) FOR CASH CONSIDERATION OF RM20,000,000 (PROPOSED ACQUISITION)
Reference is made to the announcements dated 21 August 2015 and 1 September 2015.
Vide an exchange of letters dated 2 December 2015, HHVJ and I4G have mutually agreed to vary certain terms in the SSA entered into on 20 August 2015, as follows: (i) Pursuant to the SSA, the sum for the first payment of RM10.0 million is to be paid to I4G’s solicitors as stakeholders upon execution of the SSA (“First Payment”).Todate, HHVJ has paid a refundable sum of RM3.0 million. HHVJ and I4G have mutually agreed to extend the payment for the second tranche of the First Payment amounting to RM7.0 million, to be paid on or before 26 February 2016. (ii) In addition, the parties have mutually agreed to extend the period for the completion of the SSA until such time decision of the shareholders of Ho Hup is obtained. This announcement is dated 2 December 2015
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....
sl3ge
140 posts
Posted by sl3ge > 2015-11-22 14:03 | Report Abuse
@bosshard, what do u think of hohup in short term?