Posted by Victor Yong > 2020-07-06 16:37 | Report Abuse

a very profitable company. a turnaround story. impressive!!!!

DBE Quarter Report History
Date Financial
Year No. Financial
Quarter Revenue
(RM,000) PBT (RM,000) Net Profit
(RM,000) EPS (Cent) Dividend
(Cent) NTA
(RM) YoY
(%)
15 Jun 2020 31 Dec 2020 1 31 Mar 2020 20,232 5,776 4,359 0.16 0.00 0.030 Malaysia Stock - KLSE Quarter Report History 2912%
26 Feb 2020 31 Dec 2019 4 31 Dec 2019 24,260 5,364 2,557 0.10 0.00 0.020 Malaysia Stock - KLSE Quarter Report History 116%
25 Nov 2019 31 Dec 2019 3 30 Sep 2019 48,557 6,001 4,637 0.17 0.00 0.020 Malaysia Stock - KLSE Quarter Report History 228%
26 Aug 2019 31 Dec 2019 2 30 Jun 2019 48,014 1,038 652 0.02 0.00 0.020 Malaysia Stock - KLSE Quarter Report History 124%
27 May 2019 31 Dec 2019 1 31 Mar 2019 28,283 527 -155 -0.01 0.00 0.020 Malaysia Stock - KLSE Quarter Report History 97%

Posted by Victor Yong > 2020-07-06 16:42 | Report Abuse

EREIN) (“PROPOSED AMENDMENTS”); AND
(V) PROPOSED PRIVATE PLACEMENT OF UP TO 135,000,000 NEW CONSOLIDATED SHARES AT AN ISSUE PRICE TO BE DETERMINED
AND TO PLACEE(S) TO BE IDENTIFIED AT A LATER STAGE
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
PART B
INDEPENDENT ADVICE LETTER FROM MERCURY SECURITIES TO THE NON-INTERESTED SHAREHOLDERS OF DBE IN RELATION TO
THE PROPOSED ACQUISITIONS AND THE PROPOSED EXEMPTION
PART C
PROPOSED CHANGE OF NAME OF THE COMPANY FROM “D.B.E. GURNEY RESOURCES BERHAD” TO “LAGENDA PROPERTIES
BERHAD” (“PROPOSED CHANGE OF NAME”)
AND
NOTICE OF EXTRAORDINARY GENERAL MEETING
Adviser for Part A Independent Adviser for Part B
AmInvestment Bank Berhad
Registration No. 197501002220 (23742-V)
(A Participating Organisation of Bursa Malaysia Securities Berhad)
MERCURY SECURITIES SDN BHD
Registration No. 198401000672 (113193-W)
(A Participating Organisation of Bursa Malaysia Securities Berhad)
This Circular is dated 22 June 2020
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.
If you are in any doubt as to the course of action to be taken, you should consult your stockbroker, bank manager, solicitor, accountant or other
professional adviser immediately.
The sections pertaining to the Proposed Amendments (as defined herein) and the Proposed Change of Name (as defined herein) are prescribed
as exempt documents pursuant to Practice Note 18 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa
Securities”) and do not require the perusal of Bursa Securities prior to issuance. Bursa Securities has not perused the sections pertaining to the
Proposed Amendments, the Proposed Change of Name and the Proposed Exemption (as defined herein).
Shareholders should rely on their own evaluation to assess the merits and risks of the Proposals (as defined herein) and the Proposed Change
of Name. Bursa Securities takes no responsibility for the contents of this Circular and valuation certificate, makes no representation as to its
accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this Circular.
Pursuant to Paragraph 4.08(3)(g) of the Rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”), the Securities Commission
Malaysia (“SC”) has notified that it has no further comments to the contents of the independent advice letter (“IAL”) for the Proposed Exemption.
However, such notification shall not be taken to suggest that the SC agrees with the recommendation of the independent adviser or assumes
responsibility for the correctness of any statements made or opinions or reports expressed in the IAL for the Proposed Exemption.
The resolution in respect of the Proposals and the Proposed Change of Name will be tabled at the Extraordinary General Meeting (“EGM”) of
DBE which will be held fully virtual and entirely via remote participation and voting at the Broadcast Venue: Level 1, Conference Room, No.131,
Persiaran PM2/1, Pusat Bandar Seri Manjung, Seksyen 2, 32040 Seri Manjung, Perak Darul Ridzuan, on Tuesday, 14 July 2020 at 11.30 a.m. or
at any adjournment thereof. The Notice of the EGM together with the Proxy Form, Administrative Guide for Shareholders and this Circular are
available at the Company’s website at www.dbegurney.com.
The Proxy Form should be completed and deposited at the Registered Office of the Company at No. 54-4-8, Wisma Sri Mata, Jalan Van Praagh,
11600 Penang or submitted electronically through https://web.vote2u.app, not less than forty-eight (48) hours before the time for holding the EGM
or at any adjournment thereof. Please follow the procedures provided in the Administrative Guide for Shareholders for the EGM in order to register,
participate and vote remotely.
Last date and time for lodging the Form of Proxy : Sunday, 12 July 2020 at 11:30 a.m.
Date and time of the EGM : Tuesday, 14 July 2020 at 11:30 a.m.

D.B.E. GURNEY RESOURCES BERHAD
Registration No: 200101000008 (535763-A)
(Incorporated in Malaysia)
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE:-
PART A
(I) PROPOSED CONSOLIDATION OF EVERY TWENTY-FIVE (25) EXISTING ORDINARY SHARES IN D.B.E. GURNEY RESOURCES
BERHAD (“DBE” OR “COMPANY”) (“DBE SHARES” OR “SHARES”) INTO ONE (1) DBE SHARE (“CONSOLIDATED SHARE”) HELD
ON AN ENTITLEMENT DATE TO BE DETERMINED LATER;
(II) PROPOSED ACQUISITIONS (AS DEFINED HEREIN);
(III) PROPOSED EXEMPTION UNDER PARAGRAPH 4.08(1)(A) OF THE RULES ON TAKE-OVERS, MERGERS AND COMPULSORY
ACQUISITIONS TO BE SOUGHT BY LAGENDA LAND SDN BHD AND ITS PERSONS ACTING IN CONCERT (“PACS”) FROM THE
OBLIGATION TO UNDERTAKE A MANDATORY TAKE-OVER OFFER TO ACQUIRE THE REMAINING DBE SHARES AND EXISTING
FIVE-YEAR WARRANTS (2017/2022) CONSTITUTED BY THE DEED POLL DATED 20 JANUARY 2017, EXPIRING ON 22 JANUARY 2022
NOT ALREADY OWNED BY LAGENDA LAND SDN BHD AND ITS PACS UPON THE COMPLETION OF THE PROPOSED ACQUISITIONS
(“PROPOSED EXEMPTION”);
(IV) PROPOSED AMENDMENTS TO THE CON

Posted by Victor Yong > 2020-07-06 16:43 | Report Abuse

at 3-3.5sen now, 25 shares to be consolidated into 1 share ~ 75sen to 87.5sen... possible after consolidation, above RM1. very profitable biz .. look at the profitability after doh family became the dominant shareholder

Posted by Victor Yong > 2020-07-06 17:07 | Report Abuse

off open market or direct biz transaction 2.7sen to 3.5sen, the lowest base for this share should be3sen. with so much = development, very likely, it will rise further before determining the price for the private placement as this is a profitable company :)

History - direct biz transaction in 2020

Date Price Change Dir-Volume Day Volume Dir-Value Day Value Avg Price % of Total Share Remarks
10/06/2020 00:00:00 0.0270 -0.0030 9.250m 18.500m 249,750 499,500 0.0270 0.3260 -
10/06/2020 00:00:00 0.0270 -0.0030 9.250m 18.500m 249,750 499,500 0.0270 0.3260 -
16/04/2020 00:00:00 0.0350 0.0050 7.700m 7.700m 269,500 269,500 0.0350 0.2714 -
13/04/2020 00:00:00 0.0350 0.0100 6.000m 8.700m 210,000 304,500 0.0350 0.2115 -
13/04/2020 00:00:00 0.0350 0.0100 2.700m 8.700m 94,500 304,500 0.0350 0.0952 -
07/02/2020 00:00:00 0.0270 -0.0030 18.000m 18.000m 486,000 486,000 0.0270 0.6721 -

Posted by Victor Yong > 2020-07-06 17:09 | Report Abuse

It could surge or accelerate anytime before the EGM :)


Recent Prices
Date Open Range Close Change Volume

TODAY* 0.03 +0.005 (20.00%) 0.03 - 0.035 52,979,700

03/07/2020 0.03 0.025 - 0.03 0.025 -0.005 (16.67%) 128,700
02/07/2020 0.03 0.025 - 0.03 0.03 0.00 (0.00%) 1,024,700
01/07/2020 0.025 0.025 - 0.03 0.03 +0.005 (20.00%) 1,291,500
30/06/2020 0.03 0.025 - 0.03 0.025 0.00 (0.00%) 338,000
29/06/2020 0.03 0.025 - 0.03 0.025 -0.005 (16.67%) 280,000
26/06/2020 0.03 0.025 - 0.03 0.03 0.00 (0.00%) 1,242,700
25/06/2020 0.03 0.025 - 0.03 0.03 0.00 (0.00%) 1,111,000
24/06/2020 0.03 0.025 - 0.03 0.03 0.00 (0.00%) 47,376,300
23/06/2020 0.03 0.03 - 0.035 0.03 0.00 (0.00%) 82,520,200
22/06/2020 0.03 0.03 - 0.03 0.03 0.00 (0.00%) 2,062,500
19/06/2020 0.03 0.025 - 0.03 0.03 0.00 (0.00%) 2,757,100
18/06/2020 0.025 0.025 - 0.03 0.03 0.00 (0.00%) 995,400
17/06/2020 0.03 0.03 - 0.03 0.03 0.00 (0.00%) 416,000
16/06/2020 0.03 0.025 - 0.03 0.03 +0.005 (20.00%) 2,558,000
15/06/2020 0.025 0.025 - 0.03 0.025 -0.005 (16.67%) 2,040,500
12/06/2020 0.025 0.025 - 0.03 0.03 0.00 (0.00%) 1,881,900
11/06/2020 0.03 0.025 - 0.03 0.03 0.00 (0.00%) 808,000
10/06/2020 0.03 0.025 - 0.03 0.03 0.00 (0.00%) 2,025,000
09/06/2020 0.03 0.025 - 0.03 0.03 +0.005 (20.00%) 18,588,000

Posted by Victor Yong > 2020-07-06 17:10 | Report Abuse

Market Cap: 85 Million
NOSH: 2,837 Million

25:1 - NOSH~113.48 mil shares only after consolidation

Posted by Good123 > 2020-07-06 17:17 | Report Abuse

Commenting on the impact of the Covid-19 pandemic on the property market, Doh says he is unfazed as the interest and appetite of first-time homebuyers remain strong.

“While other developers are trying to get someone to buy a second home for investment ... our target market is first-time house buyers. Interest rates are very low now. I don’t think serious buyers would want to wait too long. They are price-sensitive and they have a tight budget. Once they identify the right house at the right location, they will buy,” he explains.

He adds that the key thing for DBE is for its projects to remain truly affordable.

“If you view property as an investment, definitely the market sentiment is bad now, especially during the Covid-19 crisis. But for our target market, it is a different story. The banks and financial institutions, including the Public Sector Home Financing Board, are willing to provide 100% financing to buyers that meet the eligibility criteria,” he says.

On average, says Doh, DBE’s projects are 20% to 30% cheaper than other affordable housing developments.

“The problem about affordable housing is that many people think that in Perak, below RM300,000 is affordable. But our definition of affordable is below RM200,000. I believe 80% of the demand for affordable housing in Perak should be below RM200,000,” he stresses.

Posted by Good123 > 2020-07-06 17:21 | Report Abuse

Focus on ensuring consistent growth

Doh says the acquisitions will build on DBE’s solid track record in the affordable housing industry.

“Moving into this will unquestionably boost the group’s earnings, especially having disposed of the loss-making poultry businesses,” he explains.

To recap, the disposal of a 51% interest in the poultry businesses was completed on Dec 31 last year. DBE has a put option to dispose of the remaining 49% for RM9.8 million within five years.

DBE intends to exercise the put option at a time when the board deems fit, Doh says, considering that the poultry segment has been recording losses for the past 10 years, except for a minimal profit in 2016.

Posted by Good123 > 2020-07-06 17:22 | Report Abuse

DBE shares have not been on investors’ radar in the past few years due to the weak financial performance of its poultry businesses in the past decade. However, with its diversification into property development and divestment of stakes in the poultry businesses, the group returned to the black in the financial year ended Dec 31, 2019 (FY2019), registering a net profit of RM7.7 million.

DBE is also proposing a share consolidation exercise — consolidating 25 existing shares into one share — to enhance the company’s profile among investors.

Based on its closing price of three sen last Wednesday, the group’s market capitalisation stood at RM85 million.

Although there is a lot of uncertainty in the market, Doh says he will remain focused on ensuring consistent growth at DBE, be it revenue or profit.

“It is our job to convince the investors to invest in our company, and what better way to do it than showing strong growth on a year-to-year basis?”

Posted by Good123 > 2020-07-06 17:24 | Report Abuse

based on 75sen to acquire those companies. use 3sen per share based pre-consolidation share price

.Massive GDV pipeline

For perspective, DBE currently has four projects — Taman Desa Harmoni, Pangsapuri Seri Iskandar, Taman Bemban Indah and Pengkalan Prisma — all in Perak.

Taman Desa Harmoni and Pangsapuri Seri Iskandar are fully sold and certificates of completion and compliance (CCC) will be issued this year.

Taman Bemban Indah is 28% sold and 44% completed, while Pengkalan Prisma is 42% sold and 35% completed. As at March 31, these two projects had a total remaining gross development value (GDV) of RM113 million.

Notably, DBE had in February announced the proposed acquisition of the entire equity interest of three companies involved in property development, construction and trading of building materials. It will acquire the companies from the Doh family for over RM800 million, paying about RM150 million in cash, while the remaining RM650 million will be satisfied via a share issuance at 75 sen apiece.

“Upon completion of the corporate exercises, my family and I will own about 72% of DBE. Subsequently, we plan to undertake a private placement and, theoretically, our shareholding will then be diluted,” says Doh, adding that his family will seek a waiver of having to make a general offer.

It is worth noting that Blossom Eastland Sdn Bhd, one of its acquisition targets, has two major township developments — Bandar Baru Setia Awan Perdana (launched in 2016) and Lagenda Teluk Intan (launched in 2018).

On top of that, Blossom Eastland also owns smaller affordable housing projects and vacant land parcels that have been earmarked for future development in Tronoh and Manjung (Setia Residence and Taman Mulia).

Doh says the acquisition of Blossom Eastland is set to be a game changer for DBE, as Bandar Baru Setia Awan Perdana and Lagenda Teluk Intan, as well as the other projects, have a remaining total GDV of RM2.4 billion.

“We are expecting strong financial fundamentals moving forward, with existing projects and future projects post-acquisitions. The total profit after tax of the target companies is about RM124 million for FY2019,” he says.

Posted by Good123 > 2020-07-06 17:28 | Report Abuse

I foresee the coming pp should be above 75sen per share post consolidation of shares

Posted by Good123 > 2020-07-06 17:34 | Report Abuse

THIRTY (30) LARGEST SHAREHOLDERS
(As per Record of Depositors)AS AT 20 MARCH 2020
Name of Shareholders No. of Shares Held % of Issued Capital
1 Amsec Nominees (Tempatan) Sdn Bhd
Beneficiary : Pledged Securities Account –
AmBank Islamic Berhad for Doh Properties Holdings Sdn Bhd
488,014,976 17.20
2 Doh Properties Holdings Sdn Bhd 234,741,784 8.27
3 Doh Properties Holdings Sdn Bhd 216,523,460 7.63
4 Chew Soon Kui 84,317,313 2.97
5 Foo Kwai Kheng 55,500,300 1.96
6 Cimsec Nominees (Tempatan) Sdn Bhd
Beneficiary : CIMB Bank for Doh Jee Ming
47,520,000 1.67
7 Ong Yang Ling 46,150,000 1.63
8 Chieng Hock Lay 42,730,000 1.51
9 Public Nominees (Tempatan) Sdn Bhd
Beneficiary : Pledged Securities Account for Chea Jian Kai
38,410,600 1.35
10 Teoh Wei Sheng 37,000,000 1.30
11 Low Kok Yew 35,040,800 1.24
12 Ong Beng Teik 30,000,000 1.06
13 Binari Maju Sdn Bhd 25,757,864 0.91
14 Rising Sun Construction Sdn. Bhd. 25,757,000 0.91
15 Eik Chu Yew 18,500,000 0.65
16 Lavitha A/P M G Segaram 18,500,000 0.65
17 Sriskanda A/L Thamotharam 18,500,000 0.65
18 Chieng Hock Lay 18,000,000 0.63
19 Maybank Nominees (Tempatan) Sdn Bhd
Beneficiary : Pledged Securities Account for Leong Sai Mun
17,000,000 0.60
20 Chin Lai Yee 15,000,000 0.53
21 Maybank Nominees (Tempatan) Sdn Bhd
Beneficiary : Pledged Securities Account for Ong Wee Khiang
13,820,000 0.49
22 Leong Siew Ken 13,601,000 0.48
23 Foo Fook Min 13,500,000 0.48
24 Goh Khee Teck 13,000,000 0.46
25 Ng Tze Jac 12,000,000 0.42
26 Ting Kwong Keong 11,250,000 0.40
27 Kenanga Nominees (Tempatan) Sdn Bhd
Beneficiary : Chong Mei
11,000,000 0.39
28 Seah Hang Kuan 10,400,000 0.37
29 Alliancegroup Nominees (Tempatan) Sdn Bhd
Beneficiary : Pledged Securities Account for Lim Pang Kiam
10,000,000 0.35
30 Doh Jee Ming 10,000,000 0.35

Posted by Good123 > 2020-07-06 17:36 | Report Abuse

PROFILE OF
DIRECTORS
Dato’ Doh Tee Leong
Non-Independent Non-Executive Chairman
• Male • Malaysian • 45
Dato’ Doh Tee Leong (“DDTL”) was appointed as a Non-Independent Non-Executive Director of the Company on 20 December
2017. He was re-designated as the Chairman of the Board on 26 October 2018. He is also a member of the Audit

Posted by Good123 > 2020-07-06 17:36 | Report Abuse

Dato’ Doh Jee Chai
Non-Independent Non-Executive Director
• Male • Malaysian • 48
Dato’ Doh Jee Chai (“DDJC”) was appointed as a Non-Independent Non-Executive Director of the Company on 11 February
2020.
DDJC obtained a Bachelor of Science in Econometrics from the University of Bath, United Kingdom in 1997.
DDJC has vast experience and extensive knowledge in the following industries: oil palm plantation, property development,
construction and provision of hotel

Posted by Good123 > 2020-07-06 17:37 | Report Abuse

PROFILE OF
DIRECTORS (Cont’d)
Mohamad Ali Bin Ariffin
Independent Non-Executive Director
• Male • Malaysian • 46
Encik Mohamad Ali bin Ariffin (“En. Mohamad Ali”) was appointed as an Independent Non-Executive Director of the Company
on 28 June 2019. He is also a member of the Audit

Posted by Good123 > 2020-07-06 17:38 | Report Abuse

PROFILE OF
KEY SENIOR MANAGEMENT
Dato’ Doh Jee Ming
Managing Director
• Male • Malaysian • 40
Dato’ Doh Jee Ming (“DDJM”) was re-designated as Managing Director of the Company on 1 January 2020. Having vast
experience in property development and construction related business, he brought with him a robust knowledge of the industry
to our Group. At present, he plays multiple roles in envisioning, implementing and completing property development projects.
He is in charge of exploring business opportunities in the property business and currently, he oversees the management and
operations of property development division of our Group.
Further profile of DDJM is set out in this Annual Report under Profile of Directors.
Ngu Ung Ha
Chief Financial Officer
• Male • Malaysian • 56
Mr Ngu Ung Ha (“Mr Ngu”) was appointed as Chief Financial Officer of the Company on 1 June 2018. He is a Chartered
Accountant with the Malaysian Institute of Accountants (MIA) since year 1995 and is also an associate member of The
Chartered Institute of Management Accountants.
Prior to joining the Company, Mr Ngu was attached to Setia Awan Holdings Sdn Bhd (“Setia Awan”), one of the major
developers in Perak, focusing on affordable home development. In Setia Awan, he was responsible for the treasury and risk
management of the Company and was also a team member of the strategic business unit. He has extensive experience
of more than 31 years in accounting and finance. At present, he is responsible for the overall accounting and financial
management of DBE Group.
He does not have any family relationship with any director and/or major shareholder of the Company, nor any conflict of
interest with the Company. He has no convictions for any offences within the past 5 years (other than traffic offences, if any),
nor any public sanction or penalty imposed by regulatory bodies during the financial year.
He does not hold any shares in the Company.

Posted by Good123 > 2020-07-06 17:42 | Report Abuse

OTHERS D.B.E. GURNEY RESOURCES BERHAD ("DBE" OR THE "COMPANY") EXTRAORDINARY GENERAL MEETING ("EGM") TO BE CONDUCTED ON A FULLY VIRTUAL BASIS

D.B.E. GURNEY RESOURCES BERHAD
TypeAnnouncementSubjectOTHERS
DescriptionD.B.E. GURNEY RESOURCES BERHAD ("DBE" OR THE "COMPANY") EXTRAORDINARY GENERAL MEETING ("EGM") TO BE CONDUCTED ON A FULLY VIRTUAL BASIS

The Company wishes to announce that the forthcoming EGM to be held on 14 July 2020 will be conducted on a fully virtual basis.

 

Please refer to the Notice of the EGM dated 22 June 2020, which was announced on 19 June 2020.

 

Please also refer to the attached for the Notification to Shareholders, together with the Administrative Guide for Shareholders and the Form of Proxy, which have been despatched to all shareholders today, which is also available on the Company's website at http://www.dbegurney.com/company_investor_financial_info.html.

 

This announcement is dated 22 June 2020.

 




Please refer attachment below.

Attachments

DBE - EGM Notification to Shareholder (full).pdf
142.6 kB


Announcement Info

Company NameD.B.E. GURNEY RESOURCES BERHADStock NameDBEDate Announced22 Jun 2020CategoryGeneral Announcement for PLCReference NumberGA1-22062020-00080

Posted by Good123 > 2020-07-06 17:44 | Report Abuse

NTA increased by 50% from 2sen as at 31.12.18 to 3sen as at 31 Dec 2019 as per the AR 2019 :)

Posted by Good123 > 2020-07-06 18:21 | Report Abuse

Corporate Proposals
Save as disclosed below, there were no corporate proposals announced but not completed as at the date of this report:-
On 26 February 2020, the Company had announced the following proposals:
(a) proposed acquisition of the entire equity interest in Blossom Eastland Sdn Bhd, for a purchase consideration of RM642,546,412;
(b) proposed acquisition of the entire equity interest in Rantau Urusan (M) Sdn Bhd for a purchase consideration of RM148,269,909;
(c) proposed acquisitions of the entire equity interest in Yik Wang Trading Sdn Bhd, for a purchase consideration of RM32,500,000;
(d) proposed amendments to the Constitution of the Company to facilitate inter alia the creation and issuance of new redeemable convertible preference
shares by DBE as part satisfaction of the purchase consideration pursuant to the proposed acquisition of Blossom Eastland Sdn Bhd;
(e) proposed consolidation of every twenty-five (25) existing ordinary shares of DBE into one (1) new consolidated ordinary shares in DBE held on an
entitlement date to be determined later; and
(f) proposed private placement of up to 135,000,000 new consolidated ordinary shares in DBE at an issue price to be determined by the Board and to placee(s)
to be identified at a later stage.
The proposals are subject to the approval from its non-interested shareholders in the extraordinary general meeting to be convened at a date to be announced
late

Posted by Good123 > 2020-07-06 18:22 | Report Abuse

EGM July 14

Posted by Good123 > 2020-07-06 18:23 | Report Abuse

D.B.E. GURNEY RESOURCES BERHAD
(Registration No. 200101000008 (535763-A))
(Incorporated in Malaysia)
5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
FOR THE THREE MONTHS PERIOD ENDED 31 MARCH 2020
(UNAUDITED) (UNAUDITED)
3 MO NTHS PRECEDING YEAR
CURRENT CO RRESPO NDING
FINANCIAL PERIO D FINANCIAL PERIO D
1 JAN 20 TO 31 MAR 20 1 JAN 19 TO 31 MAR 19
RM '000 RM '000
CASH FLO WS FRO M O PERATING ACTIVITIES
Pofit / (Loss) before tax from:
- continuing operations 5,776 2,215
- discontinued operations - (1,688)
5,776 527
Adjustments for :
Amortisation of leasehold land - 4 1
Depreciation of property, plant and equipment - 1,633
Loss on disposal of property, plant and equipment - 2
Reversal of impairment on investment in associates - (99)
Interest income (58) (40)
Finance costs - 367
Share of result in associate (1,488) 149
O perating profit before working capital changes 4,230 2,580
Biological assets - (667)
Inventories (1,047) (5,883)
Contract assets 854 -
Receivables (16,920) 2,648
Payables 13,205 (560)
Cash generated from/(used in) operations 322 (1,882)
Interest received 5 8 4 0
Finance costs paid - (367)
Income tax paid (619) (7)
Net cash used in operating activities (239) (2,216)
CASH FLO WS FRO M INVESTING ACTIVITIES
Purchase of property, plant and equipment - (2,008)
Proceeds from disposal of property, plant and equipment - 7
Investment in associates company - (221)
Net cash used in investing activities - (2,222)
CASH FLO WS FRO M FINANCING ACTIVITIES
Proceed from issuance of share capital 4,229 -
Repayment of borrowings - (254)
Repayment to hire purchase liabilities - (16)
Repayment to directors - (340)
Drawdown of banker acceptance - 1,814
Net cash generated from financing activities 4,229 1,204
NET INCREASE/(DECREASE) IN CASH AND CASH EQ UIVALENTS 3,990 (3,234)
CASH AND CASH EQ UIVALENTS AT BEGINNING O F PERIO D 9,857 8,503
CASH AND CASH EQ UIVALENTS AT END O F PERIO D 13,847 5,269
31 MAR 2020 31 MAR 2019
Cash and cash equivalent comprise the followings: RM '000 RM '000
- continuing operations 5,925 863
- discontinued operations - 1,911
Fixed deposits with licensed bank
- continuing operations 7,922 2,495
13,847 5,269
The Condensed Consolidated Income Statement should be read in conjunction with the Audited Financial Statements for the year ended 31 December 2019 and the
accompanying explanatory notes attached to the interim financial report.

Posted by Good123 > 2020-07-06 18:25 | Report Abuse

D.B.E. GURNEY RESOURCES BERHAD
(Registration No. 200101000008 (535763-A))
(Incorporated in Malaysia)
1
CONDENSED CONSOLIDATED INCOME STATEMENT
FOR THE FIRST QUARTER ENDED 31 MARCH 2020

Note
1 JAN 2020 to 1 JAN 2019 to 1 JAN 2020 to 1 JAN 2019 to
31 MAR 2020 31 MAR 2019 31 MAR 2020 31 MAR 2019
Preceding Year
Preceding Year Changes Current Corresponding Changes
Current Corresponding Increase / Financial Financial Increase /
Q uarter Q uarter (Decrease) Period Period (Decrease)
RM'000 RM'000 RM'000 RM'000 RM'000 RM'000
Continuing operations
Revenue 20,232 5,525 14,707 20,232 5,525 14,707
Cost of sales (13,810) (2,214) (11,596) (13,810) (2,214) (11,596)
Gross Profit 6,422 3,311 3,111 6,422 3,311 3,111
Other income 7 1 4 0 3 1 7 1 4 0 3 1
Administrative expenses (1,838) (704) (1,134) (1,838) (704) (1,134)
Selling and marketing expenses (367) (432) 6 5 (367) (432) 6 5
Share of result of associates 1,488 - 1,488 1,488 - 1,488
Profit before tax 5,776 2,215 3,561 5,776 2,215 3,561
Income tax expense B5 (1,417) (675) (742) (1,417) (675) (742)
Profit net of tax, from continuing
operations 4,359 1,540 2,819 4,359 1,540 2,819
Discontinued operations
Loss from discontinued operations,
net of tax - (1,695) 1,695 - (1,695) 1,695
Profit / (Loss) net of tax, representing total
comprehensive income for the period 4,359 (155) 4,514 4,359 (155) 4,514
Profit / (Loss) per share attribute
to owners of the Company*
Basic (Sen)
- continuing operations 0.16 0.05 0.16 0.05
- discontinued operations - (0.06) - (0.06)
0.16 (0.01) 0.16 (0.01)
(UNAUDITED) (UNAUDITED)
INDIVIDUAL Q UARTER CUMULATIVE Q UARTER
Note:
* The Group does not have any potential dilutive ordinary shares as the market price of the share was lower than the exercise price of the issued warrants. As a result,
these warrants are anti-dilutive in nature and have not been considered in the computation of diluted earnings per shares

Posted by Good123 > 2020-07-06 18:27 | Report Abuse

Performance review
1st Q uarter ended 1st Q uarter ended
31 Mar 2020 31 Mar 2019 Increase Increase
RM '000 RM '000 RM '000 %
Revenue
- Continuing operation
Property Development 20,232 5,525 14,707 266.2
Profit before tax
- Continuing operation
Property Development 5,776 2,215 3,561 160.8
For the current quarter ended 31 March 2020, the Group's revenue recorded at RM20.23 million which represents an increase of 266.2% as compared to prior
year corresponding quarter’s revenue of RM5.53 million. This was mainly due to revenue contributed from Pengkalan Prisma project.
The Group recorded a profit before tax of RM5.78 million in current quarter as compared to the profit before tax of RM2.22 million in the prior year
corresponding quarter mainly due to the recognition of 3 additional development projects for the quarter under review.
B2. Material change in profit before taxation of current quarter compared with immediate preceding quarter
1st Q uarter ended 4th Q uarter ended Increase / Increase /
31 Mar 2020 31 Dec 2019 (Decrease) (Decrease)
RM '000 RM '000 RM '000 %
Revenue
- Continuing operations
Property Development 20,232 24,260 (4,028) (16.6)
Profit before tax
- Continuing operations
Property Development 5,776 5,364 412 7.6
For the current quarter ended 31 March 2020, the Group's revenue had decreased to RM20.23 million from RM24.26 million in the immediate preceding
quarter. This was mainly due to the decrease in work progress of both Taman Desa Harmoni and Pangsapuri Seri Iskandar Apartment as both projects had
reached completion stage during the immediate preceding quarter.
The Group recorded a profit before tax RM5.78 million in current quarter as compared to the profit before tax of RM5.36 million in the preceding quarter
mainly due to the reduce in operating expenses in the current quarter.
B3. Commentary on prospects
During the quarter under review, the Government has on 18 March 2020 announced the implementation of Movement Control Order (“MCO”). The
prohibitions from MCO has restricted the progress of our work at all project sites. However, the Group has taken preventive steps to ensure that all Standard
Operating Procedures under the MCO was adhere to. Plans of catching up on progressive work at all sites are in place with the support from our contractors.
The Group will continue to adapt to the challenging times ahead to ensure its long-term sustainability, despite the uncertainties caused by the MCO. In future,
the Group will still continue to expand its property development business especially in the affordable housing segment via acquisition of existing ongoing
projects or potential land bank for development or joint venture with potential landowners.

Posted by Good123 > 2020-07-06 18:50 | Report Abuse

~2% of total number of issued shares traded today

Posted by Good123 > 2020-07-06 19:29 | Report Abuse

mgo offer price at 3.5 Sen tak jadi dulu. :). Doh Properties has been actively raising its stake in DBE Gurney, so much so that it triggered a conditional mandatory general offer (MGO) after its shareholding hit the 33% threshold in September last year.

Although Doh Properties’ offer to acquire DBE Gurney at 3.5 sen per share, or RM62.79 million in total, was deemed “fair and reasonable”, the MGO fell through as it failed to achieve the required level of acceptance.

To date, Doh Properties remains the single largest shareholder of DBE Gurney with a 35.07% stake.

Whatever transpired behind the scenes at DBE Gurney over the past two years, one thing is certain — the Ding family is ready to move on and the Doh family will be running the show from now on.

Posted by Good123 > 2020-07-06 19:30 | Report Abuse

mgo in 2018 at 3.5sen gagal

Posted by Good123 > 2020-07-06 19:45 | Report Abuse

if EGM gagal, another aggressive buy in the open market till mgo triggered probably

Posted by Good123 > 2020-07-06 19:47 | Report Abuse

lagenda properties BHD, new name new core biz :)

Posted by Good123 > 2020-07-06 19:54 | Report Abuse

retained earnings

Posted by Good123 > 2020-07-06 21:13 | Report Abuse

possible that they use proxies to buy more shares to vote in the EGM

Posted by Good123 > 2020-07-06 21:13 | Report Abuse

few days left b4 EGM

Posted by Good123 > 2020-07-06 21:57 | Report Abuse

good for DBE/lagenda properties :) Mazlina noted that a cut in the OPR tomorrow could also come in handy especially following the government's incentives for the property sector and passenger car purchases as announced in the National Economic Recovery Plan (Penjana).

"Cutting interest rates would allow the economy to recover as it reduces the burden on homeowners and businesses," said Mazlina, adding that the economy is expected to gradually recover in the second half of 2020 (2H20), buoyed by the easing of movement restrictions in both the domestic and external front.

She said the combination of both monetary and fiscal policies will expedite the economic recovery.

Posted by Victor Yong > 2020-07-07 07:41 | Report Abuse

Would the volume traded rise further today?

Posted by Good123 > 2020-07-07 08:03 | Report Abuse

probably 3.5sen

Posted by Good123 > 2020-07-07 08:03 | Report Abuse

volume should remain high to get more voting power for the coming EGM

Posted by Good123 > 2020-07-07 08:05 | Report Abuse

July 14 next Tuesday EGM

Posted by Good123 > 2020-07-07 08:07 | Report Abuse

opponents might buy more shares to block the approval on the proposals during the EGM. another fight

Posted by Victor Yong > 2020-07-07 08:14 | Report Abuse

Price n volume could rise further as mgo at 3.5sen failed 2 years ago

Date Close Volume

July 7. ??????
06/07/2020 0.03 52,999,700
03/07/2020 0.025 128,700
02/07/2020 0.03 1,024,700
01/07/2020 0.03 1,291,500
30/06/2020 0.025 338,000
29/06/2020 0.025 280,000
26/06/2020 0.03 1,242,700
25/06/2020 0.03 1,111,000
24/06/2020 0.03 47,376,300
23/06/2020 0.03 82,520,200
22/06/2020 0.03 2,062,500
19/06/2020 0.03 2,757,100
18/06/2020 0.03 995,400
17/06/2020 0.03 416,000
16/06/2020 0.03 2,558,000
15/06/2020 0.025 2,040,500
12/06/2020 0.03 1,881,900
11/06/2020 0.03 808,000
10/06/2020 0.03 2,025,000
09/06/2020 0.03 18,588,000

Posted by Good123 > 2020-07-07 08:19 | Report Abuse

Proposed Change of Company Name

D.B.E. GURNEY RESOURCES BERHAD
Proposed company nameLAGENDA PROPERTIES BERHAD


Remarks :We refer to the announcements dated 26 February 2020, 4 May 2020 and 1 June 2020 in relation to the Proposals (Announcements). Unless otherwise defined, the definitions set out in the Announcements shall apply herein. The Board wishes to announce that the Company is proposing to change its name from D.B.E. Gurney Resources Berhad to Lagenda Properties Berhad (Proposed Change of Name). The proposed name, Lagenda Properties Berhad, was reserved and approved by the Companies Commission of Malaysia on 21 January 2020 which was valid for a period of 30 days up to 20 February 2020 (Validity Period). Subsequently, the Validity Period was extended to 19 July 2020. The Proposed Change of Name is subject to the approval of the Companys shareholders at an extraordinary general meeting to be convened at a date to be announced later. A circular with details of the Proposed Change of Name will be issued to the shareholders in due course. This announcement is dated 3 June 2020.


Announcement Info

Company NameD.B.E. GURNEY RESOURCES BERHADStock NameDBEDate Announced03 Jun 2020CategoryProposed Change of Company NameReference NumberC05-03062020-00001Corporate Action IDMY200603CHAN0001

Posted by Good123 > 2020-07-07 08:23 | Report Abuse

STATEMENTS OF
COMPREHENSIVE INCOME
for the financial year ended 31 December 2019
Group Company
Note
2019
RM
2018
RM
2019
RM
2018
RM
Continuing operations
Revenue 4 71,824,689 12,742,411 - -
Cost of sales (50,195,200) (6,920,760) - -
Gross profit 21,629,489 5,821,651 - -
Other income 81,100 120,417 37,800,227 2,728
Administrative expenses (3,643,551) (1,550,658) (2,399,157) (1,106,040)
Selling and marketing expenses (3,235,373) (973,996) - -
Other expenses (880,291) (1,070,000) (80,742) (67,547,137)
Profit/(Loss) from operations 13,951,374 2,347,414 35,320,328 (68,650,449)
Finance costs 5 (243,582) - - -
Share of result of associates 10 - (80,722) - -
Profit/(Loss) before tax 5 13,707,792 2,266,692 35,320,328 (68,650,449)
Income tax expense 6 (3,930,163) (1,116,922) - -
Profit/(Loss) from continuing operations 9,777,629 1,149,770 35,320,328 (68,650,449)
Discontinued operations 9
Loss from discontinued
operations, net of tax (2,086,242) (28,999,427) - -
Profit/(Loss) for the year 7,691,387 (27,849,657) 35,320,328 (68,650,449)
Other comprehensive
income, net of tax
Items that will not be reclassified
subsequently to profit or loss
Revaluation surplus, net of tax - 223,250 - -
Total comprehensive income for the
financial year 7,691,387 (27,626,407) 35,320,328 (68,650,449)

Posted by Good123 > 2020-07-07 08:31 | Report Abuse

mgo at 3.5sen failed, now they could buy as many shares as possible at 3.5sen to boost voting power at EGM

Posted by Good123 > 2020-07-07 08:32 | Report Abuse

they must have higher stake to push through the approval at EGM. prg EGM was a lesson. largest shareholder tak cukup stake , kena reject

Posted by Good123 > 2020-07-07 08:34 | Report Abuse

macam tak cukup syer.

DIRECTORS’ INTERESTS
According to the register of Directors’ shareholdings, the interest of Directors in office at the end of financial year in shares of
the Company and its related corporations during the financial year were as follows:
Number of ordinary shares Amount
At
1.1.2019
Unit
Bought
Unit
Sold
Unit
At
31.12.2019
Unit
At
1.1.2019
RM
At
31.12.2019
RM
Name of Directors
Ordinary shares in the
Company
Direct interest:
- Dato’ Doh Jee Ming 57,520,000 - - 57,520,000 1,725,600 1,725,600
Indirect interest:
- Dato’ Doh Jee Ming * 939,280,220 - - 939,280,220 28,178,407 28,178,407
- Dato’ Doh Tee Leong * 939,280,220 - - 939,280,220 28,178,407 28,178,407
- Dato’ Doh Jee Chai * 939,280,220 - - 939,280,220 28,178,407 28,178,407
* Indirect interest pursuant to Section 8(4) of the Companies Act, 2016 via Setia Awan Plantation Sdn. Bhd., which in turn
holds 100% equity interest in Doh Properties Holdings Sdn. Bhd.
Dato’ Doh Jee Ming, Dato’ Doh Tee Leong and Dato’ Doh Jee Chai are deemed to have interest in the shares held by the
Company in its subsidiaries by virtue of their substantial interest in shares via Setia Awan Plantation Sdn. Bhd., which in turn
holds 100% equity interest in Doh Properties Holdings Sdn. Bhd.
None of the other Directors in office at the end of the financial year had any interest in the ordinary shares of the Company or
its related corporations during the financial year.

Posted by Good123 > 2020-07-07 08:40 | Report Abuse

3.5-4sen~ 75sen to rm1 after share consolidation

Posted by Good123 > 2020-07-07 08:41 | Report Abuse

in 2018 mgo at 3.5sen, making huge loss... now profitable in 2019 and even Q1,2020

Posted by Good123 > 2020-07-07 08:44 | Report Abuse

dbe was successful in turnaround with retained earnings

Posted by Good123 > 2020-07-07 08:45 | Report Abuse

if EGM kena block. mgo again, should higher than 3.5sen offered in 2018. now , a profitable company unlike in 2018.

Posted by Good123 > 2020-07-07 09:10 | Report Abuse

expecting the to pay dividend either cash or share to boost share price later

Posted by Good123 > 2020-07-07 09:11 | Report Abuse

the 40 years' MD is aggressive, believe he wanted to create a legacy

Posted by Good123 > 2020-07-07 09:22 | Report Abuse

should invite friendly party to acquire from the open market before the new private placement for approval at EGM