Subject MEMORANDUM OF UNDERSTANDING Description SANICHI TECHNOLOGY BERHAD ("SANICHI" OR "THE COMPANY") STATUS UPDATE ON MEMORANDUM OF UNDERSTANDING ("MOU") BETWEEN THE COMPANY, PNE PCB BHD ("PNE"), AT SYSTEMATIZATION BERHAD ("ATS") AND ARZON SOLAR, LLC ("ARZ") For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements 18 May 2020 and 27 May 2020 in relation to the MOU, where applicable, unless stated otherwise or defined herein)
We refer to the announcements made by the Company on 18 May 2020, 20 May 2020 and 27 May 2020 pertaining to the MOU between the Company, PNE, ATS and ARZ. The Company wishes to inform that there is no material development to the said MOU since the last announcement.
With that announcement by Sanichi, the e-commerce deal with PDZ is more promising and has a higher success rate...... :) Lai lai lai, PDZ will be flying high soon TP 0.3
Permaju is a new substantial shareholder of PNE :)
Announcement TRANSACTION (CHAPTER 10 OF LISTING REQUIREMENTS) NON-RELATED PARTY TRANSACTIONS Description: 1. INTRODUCTION PERMAJU INDUSTRIES BERHAD (“PERMAJU” or “the Company”) INVESTMENT IN PNE PCB BERHAD (“PNE”) The Board of Directors of PERMAJU wishes to announce that its wholly-owned subsidiary, Iconworld Resources Sdn Bhd, had on 16 November 2020 acquired 16,000,000 ordinary shares of PNE PCB Berhad (“PNE”), representing 9.05% of issued shares of PNE, at RM1.23 per share (“PNE Shares”) for a total cash consideration of RM19,680,000.00 (“Consideration”) (“Investment”) from open market. 2. DETAILS OF THE INVESTMENT 2.1 Information on PNE PNE is a limited liability company incorporated in Malaysia. PNE is currently listed on Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). PNE principle activities are consists of those relating to the manufacture and sale of printed circuit boards (“PCBs”) and as investment holding company. The PCBs range comprises single-sided, double-sided, silver through hole and carbon which supply to various industries including consumer electronics, information and communications technology, automotive, medical and manufacturing industries. 3. BASIS OF ARRIVING AT THE CONSIDERATION The Investment is acquired from the open market. 4. FUNDING FOR THE INVESTMENT The Consideration paid for the Investment was funded entirely from internally generated funds of the PERMAJU Group. 5. RATIONALE At present, Genbayu Gemilang Sdn Bhd (“GENBAYU”), a wholly owned subsidiary of PERMAJU has entered into a Joint Venture Agreement with Cubetech Asia Sdn Bhd, a wholly owned subsidiary of Vsolar Group Berhad on 1 September 2020 with the intends to submit its tender to build and operate a Large-Scale Solar 4 (LSS4) Proposed 50MW Plant in Seremban, Negeri Sembilan (“the Project”).
On 2 November 2020, GENBAYU has appoint PNE to act as Authorised Representative for all the technical assessment and certification pertaining to the Project. The Board of PERMAJU is of the view that there would be tremendous opportunities and synergistic benefits to be derived by this potential business tie-up. 6. THE PROSPECTS OF PNE PNE aim to continuously seek market opportunities in the domestic and foreign markets to strengthen their market and enhance profitability. PNE will developing air ventilators in collaboration with Sanichi Technology Berhad (“STB”), Arzon Solar LLC (“ARZ”) and AT systematization Berhad (“ATS”) through a joint venture. The development of the air ventilators is expected to generate a new revenue stream for PNE following the surge in demand for air ventilators due to the Covid-19 pandemic. The net loss and net assets of PNE based on the latest audited account 31 March 2020 is RM 6,670,749 and RM57,176,863 respectively. 7. LIABILITIES TO BE ASSUMED There are no liabilities, including contingent liabilities and guarantees to be assumed by PERMAJU, arising from the Investment. 8. RISK FACTORS FOR THE INVESTMENT Save for the normal business and global economic risk, the Board of Director of PERMAJU is not aware of any other risk factors which may arise as a result of the Investment. 9. FINANCIAL EFFECTS OF THE INVESTMENT 9.1 Share capital and substantial shareholders’ shareholdings The Investment is not expected to have any effect on the issued and paid-up share capital of PERMAJU and the substantial shareholders’ shareholdings of PERMAJU. 9.2 Earning per share, net asset per share and gearing The Investment is not expected to have any material effect on the earnings per share, net assets per share and gearing for the financial year ending 30 June 2021. Nonetheless, PERMAJU expects positive contribution on its earnings in the future should the expected synergistic benefits be realised.
10. HIGHEST PERCENTAGE RATIO APPLICABLE The highest percentage ratio applicable to the Investment pursuant to Rule 10.02 (g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad is 17.60% based on the latest audited financial statements of PERMAJU as at 30 June 2020. 11. APPROVAL REQUIRED The Investment is not subject to the approval of the shareholders of PERMAJU and any relevant government authorities. 12. INTEREST OF THE DIRECTORS, MAJOR SHAREHOLDERS AND PERSONS CONNECTED WITH THEM None of the Directors, major shareholders of PERMAJU and/or persons connected to them has any interest, direct or indirect, in the Investment. 13. STATEMENT BY THE BOARD OF DIRECTORS The Board of PERMAJU, having considered all aspects of the Investment, is of the opinion that the Investment is in the best interest of the Company. This announcement is dated 16 November 2020.
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PERMAJU INDUSTRIES BERHAD ("PERMAJU" or "the Company") - ADDITIONAL INVESTMENT IN PNE PCB BERHAD ("PNE")
PERMAJU INDUSTRIES BERHAD
Type Announcement Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS Description PERMAJU INDUSTRIES BERHAD ("PERMAJU" or "the Company") - ADDITIONAL INVESTMENT IN PNE PCB BERHAD ("PNE") 1. INTRODUCTION
With reference to the announcement dated 16 November 2020, the Board of Directors of PERMAJU wishes to announce that its wholly-owned subsidiary, Iconworld Resources Sdn Bhd, had on 17 November 2020 acquired additional 6,000,000 ordinary shares of PNE at RM1.23 per share (“PNE Shares”) for a total cash consideration of RM7,380,000.00 (“Consideration”) from open market.
Together with the 16,000,000 of PNE Shares announced on 16 November 2020, PERMAJU now has aggregate of 22,000,000 of PNE Shares, representing 12.43 % of issued shares of PNE. The total purchase consideration for the entire 22,000,000 PNE Shares is RM27,060,000.00 (“Aggregate Investment”).
2. HIGHEST PERCENTAGE RATIO APPLICABLE
The highest percentage ratio applicable to the Investment pursuant to Paragraph 10.02 (g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad for the Aggregate Investment is 24.20% based on the latest audited financial statements of PERMAJU as at 30 June 2020.
3. APPROVAL REQUIRED
The Investment is not subject to the approval of the shareholders of PERMAJU and any relevant government authorities.
MEMORANDUM OF UNDERSTANDING Description SANICHI TECHNOLOGY BERHAD ("SANICHI" OR "THE COMPANY") STATUS UPDATE ON MEMORANDUM OF UNDERSTANDING ("MOU") BETWEEN THE COMPANY, PNE PCB BHD ("PNE"), AT SYSTEMATIZATION BERHAD ("ATS") AND ARZON SOLAR, LLC ("ARZ")
We refer to the announcements made by the Company on 18 May 2020, 20 May 2020 and 27 May 2020 and 17 August 2020 pertaining to the MOU between the Company, PNE, ATS and ARZ. The Company wishes to inform that there is no material development to the said MOU since the last announcement.
United Arab Emirates Claims China’s Sinopharm Vaccine Is 100% Effective At Preventing Moderate And Severe Covid-19
TOPLINE The experimental vaccine developed by China National Pharmaceutical Group, also known as Sinopharm, is 86% effective at preventing Covid-19 infection and 100% effective at preventing severe and moderate disease, health officials from the United Arab Emirates announced Wednesday, although with scarce detail provided about the trial.
The UAE health ministry cited an interim analysis of a late-stage clinical trial involving 31,000 volunteers as the source of its information, though neither they nor Sinopharm provided any data from the trial to validate the claims such as how many participants were infected or how many actually received the vaccine.
The ministry said “no serious safety concerns” were observed, though, again, no information on side effects was provided.
The ministry said the announcement is a “significant vote of confidence by the UAE’s health authorities in the safety and efficacy of this vaccine.”
The ministry added that it had officially registered the vaccine at the request of the manufacturer, which it says could eventually lead to the shot’s widespread authorization.
so obvious even beginner can see they push up for RUNNING the WB, once they sold all WB that is the game over for ever !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Glove counters went up too much today. I don’t think it’s logical. Has to be foreign funds and trend-following retailers buying those counters vis-a-vis local institutionals selling
I expect big profit taking on Mon but will depend on news this weekend. Again, hope not many here (retailers) chased high today
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....
Stalker85
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Posted by Stalker85 > 2020-06-24 20:30 | Report Abuse
patience is the key