it will up. Ppl chose this time to announce, so that buyers sell and lower down the price. When the announcement comes, ppl can buy in at lower price. this is a strategic. if really not good, why KFM still at 1.85-1.95 since 31/1?
Eason10, waiting for AGM before announce any material. Shareholders should take this opportunity during the AGM to find out more of the company future.
It going to good as there somebody interested to takeup the company and inject new business into KFM. At least the shareholders can see some prospect for KFM not just PN17. :)>
The new boss happen in the 2nd photo and look handsome with a kind heart. Follow the website and also found more information about the company. Look sizable and should able to do some good for KFM.
Type Announcement Subject OTHERS Description KUANTAN FLOUR MILLS BERHAD ("the Company" or "KFM") - Hearing at Pejabat Tenaga Kerja Kuantan Kes Saman Ketua Pengarah Tenaga Kerja No: KBR/10601/2016/0178 Further to the Company’s announcement dated 15 September 2016, the Board of Directors of the Company wishes to inform that the Company has received a letter on 8 February 2017 from Pejabat Tenaga Kerja Kuantan dated 6 February 2017 informing that the above case has been withdrawn.
That will be the worse if the matter is not discuss during AGM. Price going to drop below 15cents or even 10cents. That would be the time to BUY. Not now. Don't forget KFM is PN17! BUY low and Sell HIGH.....
Basically Holland is a beautiful country. Why do we still have that old tongsang attitude. It will be beautiful if KFM is been established in Netherlands. Ha ha ha
Bursa okays KFM’s 6-month extension to submit regularisation plan
By Sulhi Azman | 2017-02-14 20:18:47 KUALA LUMPUR (Feb 14): Kuantan Flour Mills Bhd (KFM) has received a green light for an extension to submit its regularisation plan for a further six months to June 27, 2017 as it looks to uplift its Practice Note 17 (PN17) status.
In a filing with Bursa Malaysia, KFM said the extension of time is without prejudice to the local bourse’s right to suspend or delist the trading of its shares in the event it fails to make the requisite announcement on or before March 31, 2017, and submit a regularisation plan on or before June 27, 2017.
In addition, KFM also said its shares face the risk of being suspended or delisted from trading on the local bourse if it fails to obtain necessary approval from regulatory authorities, and fail to implement the regularisation plan within the time frame stipulated.
“Upon occurrence of any of the events set out above, Bursa Securities shall suspend the trading of the listed securities of KFM on the sixth market day after the date of notification of suspension and de-list the company, subject to the company's right to appeal against the delisting,” KFM said in a regulatory filing with Bursa Malaysia this evening.
KFM had in 2015 fell into the PN17 status after its shareholder’s equity fell below RM40 million, which is less than its issued and paid-up capital.
As at Dec 30, 2016, KFM’s shareholder’s equity was at a deficit of RM10.81 million, while the issued and paid-up capital was at RM3.4 million. The company also noted it is facing “severe financial cashflow” problem.
Recently, KFM’s auditor McMillan Woods Thomas have issued a qualified opinion on the company’s latest annual financial statements, emphasising on material uncertainty that may cast doubt on KFM’s ability to continue as a going concern.
In September last year, KFM temporarily ceased its flour milling operations to focus on its effort to regularise and come up with a restructuring plan to uplift the dreaded PN17 status.
In essence, PN17 companies are categorised as financially-distressed entities, and in order to continue listing on the local bourse, it needs to submit a regularisation plan to the stock exchange regulator.
It is worth noting that KFM had in December last year, seen government-owned Felcra Bhd expressing its interest to explore the possibility of participating in KFM’s equity. However, Felcra retracted its register of interest two days later.
Towards the end of December, KFM signed a memorandum of understanding with Lotus Essential Sdn Bhd, a trader of steam coal, corn starch and tapioca starch, to explore the possibility of restructuring its debt and reconstructing its business, as well as to collaborate in carrying out flour milling activities and trading of flour and food-related products.
KFM shares ended its trade 1 sen or 2.78% higher at 19 sen today, giving it a market capitalisation of RM12.28 million.
Two directors retired before Dec 2016 and MOU sign in end of DEC 2016. Interesting. I believe there will be some new faces in the AGM that is running for new boss.
Greater fool theory. The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants. A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.
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....
eason10
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Posted by eason10 > 2017-02-06 10:08 | Report Abuse
it will up. Ppl chose this time to announce, so that buyers sell and lower down the price. When the announcement comes, ppl can buy in at lower price. this is a strategic. if really not good, why KFM still at 1.85-1.95 since 31/1?