CPE issue new share to get money in order to buy stake in this company ....note that it also a tech company ...and they did that just after the election...
OTHERS PATIMAS COMPUTERS BERHAD ("Patimas" OR "the Company") COMPLETION OF INVESTIGATIVE AUDIT REPORT BY UHY ADVISORY (KL) SDN BHD
PATIMAS COMPUTERS BERHAD
Type Announcement Subject OTHERS Description PATIMAS COMPUTERS BERHAD ("Patimas" OR "the Company") COMPLETION OF INVESTIGATIVE AUDIT REPORT BY UHY ADVISORY (KL) SDN BHD
Reference is made to the Company’s announcement dated 29 March 2013.
The Board of Directors of Patimas wishes to further announce the summarised key findings of the Investigative Audit Report as set out in the attachment herein.
This announcement is made on 14 May 2013.
Attachments
Anncmt on Findings of Investigative Audit.pdf 281 KB
Announcement Info Company Name PATIMAS COMPUTERS BERHAD Stock Name PATIMAS Date Announced 14 May 2013 Category General Announcement Reference No CC-130514-54744
WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Patimas Computers Berhad (“Patimas” or “the Company”) Restraining order under Section 176 (10) of the Companies Act, 1965
PATIMAS COMPUTERS BERHAD
Type Announcement Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Description Patimas Computers Berhad (“Patimas” or “the Company”) Restraining order under Section 176 (10) of the Companies Act, 1965
The Company wishes to announce that on 9 May 2013, the Court has granted an order, inter alia, that all proceedings and/or actions and/or any further proceedings in any actions or proceedings against Patimas and its subsidiaries namely, Patimas Dot Com Sdn Bhd; Patimas HPD Systems Sdn Bhd; and Patimas Outsourcing Services Sdn Bhd including all winding up proceedings, receiverships, any execution proceedings including distress, arbitration, or the appointment of receivers and managers as well as any intended or further proceedings be forthwith restrained and stayed pursuant to Section 176 (10) of the Companies Act, 1965 for a period of six (6) months from 9 May 2013, except by leave by the Court and subject to such terms as the Court may impose (“Restraining Order”). The Group’s businesses are currently experiencing cash constraints due to softening of the computer related products and services market and competitiveness in the computer industry as a result of the economic slowdown commencing the second half of 2008. On 1 November 2012, Patimas had made an announcement that it is considered a PN 17 company pursuant to the Main Market Listing Requirements. The PN17 criteria was triggered as a result of Patimas’ latest financial statements for the financial period of 1 January 2011 to 31 March 2012 wherein the auditors have expressed a disclaimer of opinion on Patimas’ latest audited financial statements for the aforesaid financial period. As a result, the Group is unable to comply with its repayment obligations to its secured lenders and creditors. A number of the Group’s creditors, secured or otherwise, have commenced or threatened to commence legal proceedings against the Group for recovery of their debts. The Restraining Order will allow Patimas to focus on formalizing the proposed schemes of arrangements unhindered without having to divert its attention and resources to defending and dealing with any proceeding and/or actions from the Group’s creditors. The Restraining Order is not expected to have any material impact on the financial and operational matters of Patimas Group. The details of the proposed schemes of arrangement will be announced in due course. This announcement is dated 14 May 2013.
be careful, police investigation in the $4,000,000 cheating and fraud allegations against Dato Azim Zabidi is still continuing. Someone in Investlah Said Dato Azim has been quizzed by police. Charges may follow?!
Dato Azim only investor, can out anytime....Nur Jazlan still one of powerman in Patimas and MP in Johor under BN so Patimas can't die buy now before the price fly to above 10 cent
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....
ChartAnalysis
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Posted by ChartAnalysis > 2013-05-08 23:14 | Report Abuse
Don't know,,,but why CPE bought another Malaysian penny stock tech company?