Posted by kenie > 2019-05-29 12:19 | Report Abuse

The High Court has fixed Monday to hear Seacera Group Bhd’s application for a declaration that a notice of extraordinary general meeting filed by a group of shareholders is null and void.
The PN17 company said this in a filing with Bursa Malaysia today with regards to the notice of EGM dated April 30.
The EGM, scheduled to be held on May 29, was requisitioned by substantial shareholder Datuk William Tan Wei Lian and six other shareholders — Datin Sek Chian Nee, Jeannie Ooi Chin Nee, Datuk Chan Chee Hong, Low Swee Foong, Liu Zhen and Ong Eng Taik.
In a separate filing, Seacera said the court has fixed May 28 to decide whether or not the company has to disclose its record of depositors to the seven shareholders.
The seven want the record in text format to be produced at or before 10am on May 28 “for purposes of the proposed EGM”.
The seven, representing a combined stake of at least 10% in the tile manufacturing company, called for the EGM to remove eight directors from the company and appoint new ones.
Rasila Hamzah, Norhanum Nordin, Halim Ismail, Mohd Fazillah Kamaruddin, Datuk Mansor Masikon, Datuk Seri Azizan Ahmad, Zulkarnin Ariffin and Datuk Seri Abdul Mohd Zabidi are the directors that they are targeting to exit the group,
In their place, they are proposing Tan Lee Chin, Razvi Abdul Halim, Datin Ida Suzaini, Clarence Yeow Kong Chew, Chua Eng Chin, Marzuki Hussain, Tengku Ahmad Badli Shah Raja Hussin and Ong Eng Taik.

Posted by goodgain > 2019-05-29 13:20 | Report Abuse

kenie, so outdated la.

Posted by Holyman > 2019-05-29 13:33 | Report Abuse

Dead company got also many ind. directors... cut costs.

Posted by jimmylai0415 > 2019-05-29 13:47 | Report Abuse

MD resigned

Posted by goodgain > 2019-05-29 13:53 | Report Abuse

wah. good news then. The end of power fighting.

Posted by Aurora Borealis > 2019-05-29 14:29 | Report Abuse

Waaa... everyone resigned? Then who left Gajah or Pelanduk?

Posted by Holyman > 2019-05-29 14:45 | Report Abuse

Lame duck MD.

Posted by spider68 > 2019-05-29 15:29 | Report Abuse

1st thing must check is whether or not the company got advance money to any of the directors.

Posted by jien183 > 2019-05-29 15:54 | Report Abuse

Price dropping back

Posted by goodgain > 2019-05-29 15:56 | Report Abuse

price drop again from 26 to 24. luckily exit at 26. what happen?

Posted by spider68 > 2019-05-29 16:03 | Report Abuse

Roller coaster now going down.

Posted by spider68 > 2019-05-29 16:07 | Report Abuse

Anyone got insight on the proceedings of the EGM pls share.
29/05/2019 4:06 PM

Posted by spider68 > 2019-05-29 16:10 | Report Abuse

Now RM0.225.

Posted by jien183 > 2019-05-29 16:10 | Report Abuse

T.T

Posted by Aurora Borealis > 2019-05-29 16:17 | Report Abuse

EGM... what else. They voting for the appointment of new director lor

Posted by stockgods > 2019-05-29 16:20 | Report Abuse

relax la guys, egm changing new board good news la. u guys gotta calm downnn

Posted by Aurora Borealis > 2019-05-29 16:23 | Report Abuse

Appointment of Tan Lee Chin as Chairman - vote for
Appointment of Tan LC as director - Vote For
Appointment of Rizvi as diector - Vote for
Datin Iza Suzaini - Vote for
Remove Mohd Fazillah - Vote for
Remove Datuk Mansor - Vote For
Then.. can guess the rest

Appointment Dato T as main actor to be continue.. hehehe

Posted by Srsm Trader > 2019-05-29 16:24 | Report Abuse

should be a good news. one people dump, others follow suits. steady fast. you hold, then price will go up or else everybody dump.

Posted by Will76 > 2019-05-29 16:26 | Report Abuse

0.15 coming

Posted by da4444 > 2019-05-29 16:27 | Report Abuse

0.35 coming

Posted by goodgain > 2019-05-29 16:27 | Report Abuse

enter again at 23

Posted by stockgods > 2019-05-29 16:29 | Report Abuse

Previous administration not capable enough, that's why shares drop so much la. Now change new administration, u guys should be hopeful ma. People dump a bit only everyone panic spider... aduihhhh, don't know u guys la

Posted by Aurora Borealis > 2019-05-29 16:38 | Report Abuse

If new mgmt like "gillette", then they will sell off the land to cover their remuneration then become Tiger version 2... shares has lowest value in their management history.

Posted by stockgods > 2019-05-29 16:44 | Report Abuse

Well I believe they have to sell something to cover the remuneration and most importantly, they have to use the proceeds from whatever they are selling to remove PN17 status of the list. And once they are cleared with whatever debts, then only they can run the company normally. Let's just observe, I'm pretty optimistic so far considering the assets they have.

Posted by Srsm Trader > 2019-05-29 16:49 | Report Abuse

aggreed.

Posted by stockgods > 2019-05-29 16:54 | Report Abuse

One more thing, judging from the comments here. General investors here think that proceeding with the egm is a bad thing? Where's the rational here guys? We have been waiting for the company to solve their debts, but the previous mgmt wasn't even able to handle it with care and allow the company to free fall to PN17. Change is necessary and hopefully the new mgmt would be able to reorganise the capital structure to ensure healthy development of the company. Sekian terima kasih

Posted by spider68 > 2019-05-29 17:02 | Report Abuse

Lets hope the situation is not the case of out of the frying pan into the fire as looking at Tiger Synergy Berhad news, share price & financials, they are not doing too well either.

Posted by stockgods > 2019-05-29 17:17 | Report Abuse

Totally agreed with you spider68

Posted by goodgain > 2019-05-29 17:21 | Report Abuse

still a lot of malay directors. Those Tan's team members?

Posted by bnmacai > 2019-05-29 17:28 | Report Abuse

zul's proxies selling above mentioned tiger version 2 coming. it won't go up already sfter they have hold power.

Posted by stockgods > 2019-05-29 17:37 | Report Abuse

zul's proxies selling, let him sell lahh. That's the reason for the dip today, but IF datuk has consolidated their power and control over the company, then we might see some price increase in the near future.

Posted by goodgain > 2019-05-29 20:05 | Report Abuse

How to describe Tan? He goreng counter to make money or he will push the price even lower for him to collect more?

Is he care about the business of the company or solely to control a company with big land bank?

Posted by spider68 > 2019-05-29 20:26 | Report Abuse

Take a good look at Tiger Synergy current share price & you will get your answer.

Posted by vxpoison > 2019-05-30 00:07 | Report Abuse

KUALA LUMPUR (May 29): Tile manufacturer Seacera Group Bhd is confident of lifting its Practice Note (PN17) status after the newly-appointed board of directors rolls out its regularisation plan in the near future.

Executive director Shirley Tan Lee Chin said the seven directors appointed at the extraordinary general meeting (EGM) today, including herself, were expected to propose a series of exercises at their first board meeting, anticipated to take place in one or two weeks’ time.

“They have plans to go for fundraising proposals to pare down the bank borrowings and to sell unutilised assets for cash to make the company stronger.

“Moving forward, there is some business in quarry which the new board is very confident could enhance the value of the company and generate profit,” she told a press conference after the company’s EGM here today.

She added that the discussion on the regularisation plan would take about six to eight months before the outcome materialised.

However, Tan did not provide a specific timeline as to when the PN17 status would be lifted.

“(This is because) the company needs to show at least two quarters of profit performance in order to [lift] the PN17 status,” she said.

Seacera, which was classified as the PN17 company last month after it defaulted on the payment of principal and profits to AmBank Islamic Bhd and not being able to provide a solvency declaration to Bursa Malaysia Securities.

The company recorded a net loss of RM43.13 million in the financial year ended Dec 31, 2018, from a net profit of RM8.92 million in the previous year.

Meanwhile, Tan said an announcement on the group’s new managing director would also be made after the first board meeting.

In a filing with the exchange today, Seacera said its group managing director Zulkarnin Ariffin had resigned today due to personal reasons.

Zulkarnin’s resignation took place a day after the company announced that the High Court had dismissed its injunction application to restrain a proposed EGM by Datuk Tan Wei Lian, the single largest shareholder who holds over a 16% stake in the company.

Besides Tan, the board members appointed at today’s EGM are Rizvi Abdul Halim, Datin Ida Suzaini Abdullah, Clarence Yeow Kong Chew, Chua Eng Chin, Marzuki Hussain and Ong Eng Taik.

According to Tan, 200 shareholders turned up to the EGM today, 87% of whom voted to pass all the resolutions.

Posted by Srsm Trader > 2019-05-30 07:23 | Report Abuse

Good, at least they are thinking something to action what is necessary.

Posted by Simple Man > 2019-05-30 11:35 | Report Abuse

Looking forward price up soon. It's good time to add more position.

Posted by Will76 > 2019-05-30 12:08 | Report Abuse

“They have plans to go for fundraising proposals to pare down the bank borrowings and to sell unutilised assets for cash to make the company stronger."

The new board seems to plan to do a right issue exercise to raise fund.
Price of share will plunge if that is the case.

Just look at what happen to Dayang & Perdana that do a right issue recently. Their share price plunge by more than 30%.

Posted by vxpoison > 2019-05-30 14:05 | Report Abuse

Good luck to those holders....

Posted by Ron90 > 2019-05-30 14:09 | Report Abuse

not easy to sell asset nowadays, lots of overhang in property sector. property developer also bleeding..that why tile sales not enough.

This hostile take over looks simple, but to execute the plan..wait la. Seacera not that rich with asset easy to dispose.

Posted by vxpoison > 2019-05-30 14:30 | Report Abuse

Trading suspended again due to SME bank demand for payment....

Posted by osseng74 > 2019-05-30 15:46 | Report Abuse

This William will just buy over the land once new board take over why bother to rescue the company with so much debt.

Posted by arv18 > 2019-05-30 17:08 | Report Abuse

Yes, of course, the company will sell the land to William for RM1.

Posted by aiaili > 2019-05-30 17:55 | Report Abuse

then the company mampui lor..

Posted by DON_JUAN > 2019-05-31 07:59 | Report Abuse

SMELL A RAT
before die standing --- BETTER RUNNNNNNNNNNNNNNNNNNNNNN

Posted by jien183 > 2019-05-31 14:54 | Report Abuse

Ggwp.

Posted by spider68 > 2019-05-31 19:42 | Report Abuse

Quarterly accounts can not be submitted on time. It seems like the former directors just resigned & wash hands. The former directors it seems have inflicted much damage to the company.

Posted by CityHuntEr > 2019-06-01 21:19 | Report Abuse

dividend??0.1?? =)

Posted by aiaili > 2019-06-03 00:52 | Report Abuse

dividend慢慢等咯！

Posted by Will76 > 2019-06-03 10:30 | Report Abuse

No QR released by END May by Seacera?

Must be very BAD QR.

Looks like Bursa will SUSPEND Seacera soon for not releasing QR on time

Posted by MagicHand > 2019-06-03 11:07 | Report Abuse

The company results improved. Just because the Board is new, they need proper procedure to review and approve the results. To be fair to the new Board members