Are we sure that Mustakin is the one being conned? Not the many of us that simply believe without thinking and greedy are the real ones being conned? Conned by our own naivety and greed!
I wonder why sifu Calvin made the U turn call on Kpower and turned promoter instead. Could he have been threatened with a lawsuit? Calvin, you made some good calls but this U turn really pulled you down. Btw, how many shares do you yourself own? Pity those who bought the 3 related counters at high price and are still holding hoping that one day in the future the prices will be back to the good old days
THE journey of TH Heavy Engineering Bhd (THHE), a company beset with a myriad of problems for many years, seems to be coming to a painful end. Its shares are set to be delisted from the stock exchange on Dec 9, as its latest appeal for more time to submit its regularisation plan was rejected by Bursa Malaysia.
That is, unless THHE is able to submit an appeal by Dec 8. Even if it does, THHE shares will be suspended from trading as long as the appeal is pending.
A delisting would be a painful experience for THHE shareholders, its biggest one being Urusharta Jamaah Sdn Bhd, holding 65% of the former’s shares.
Recall that Urusharta Jamaah got its shareholding in THHE after it took over the distressed assets of pilgrim fund Lembaga Tabung Haji (TH) at end-2018. The issue though is how come THHE has sunk to these depths, destroying so much value in the process.
TH Heavy EngineeringTH Heavy Engineering
One can say although that the signs were there.
For example, as far back as 2017, the company’s auditors, Deloitte, had expressed a ‘disclaimer opinion” on THHE’s financial statements.
Deloitte had also subsequently pointed out multiple uncertainties that cast doubt on the company’s sustainability and it also listed an inability to determine the recoverability of vast sums of money.
The company had been blacklisted by Petroliam Nasional Bhd (Petronas) for four years, although that had been subsequently lifted.
It had been under the Practice Note 17 status over the last few years and had been granted multiple extensions to its deadline to submit a regularisation plan to revive its financials, but all of that has come to naught.
Alam is next delisting I guess, auditor also gave disclaimer opinion. Most oil and gas bumiputera company in great trouble, especially those company pray like mosques such as Serbadk
Default or not is not important to bilis now because their capital csn be considered 100% burn now ! If submit ar somebody go jail , if not submit until june 2022 direct delisting , sc slready made it clear !
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....
newtrader1989
1,429 posts
Posted by newtrader1989 > 2021-12-02 15:21 | Report Abuse
Strong hands strong hands hahahahahaah