Posted by EVO118 > 2023-08-21 14:49 | Report Abuse

Get suspended on Wed you are history. No more trading, just wait to be delisted.

Posted by paulthesotong > 2023-08-21 15:48 | Report Abuse

Blackcloud!!!... cash upfront trading req.

Posted by paktua73 > 2023-08-21 15:50 |

Post removed.Why?

Posted by helangtua > 2023-08-21 16:38 | Report Abuse

Something doesn't add up. Apa salah company ni sampai kena macam ni? Tak hantar report je pun. Kesian dekat investor. Give up bursa la. SC pun apa guna, tak protect investor. crypto yang banyak rugpull pun tak macam ni.

Posted by badaksumbu > 2023-08-21 16:47 | Report Abuse

Belum lagi designated counter . Kalau boleh , siapa2 jangan lah post comment yang tak betul . Counter ni masih belum cash up front payment . Aamin

Posted by linheng > 2023-08-21 19:58 | Report Abuse

I am very confident that this counter would not be listed. Sell if you want. I will buy big big at 15.5. Already holding alot

Posted by linheng > 2023-08-21 19:58 | Report Abuse

will not be delisted

Posted by linheng > 2023-08-21 20:00 | Report Abuse

This article first appeared in The Edge Malaysia Weekly on August 21, 2023 - August 27, 2023

When a company is taken off Bursa Malaysia because it has an inadequate level of business to justify its listing, the affected parties are the minority shareholders. They are forced into a position of disadvantage because an unlisted entity does not come under the oversight of a body such as Bursa or the Securities Commission Malaysia (SC).

For example, the minorities of Nylex (Malaysia) Bhd and Awanbiru Technology Bhd (Awantec) saw 50% of the paper wealth of their investments in these companies wiped out last week. This was after Bursa rejected the appeals of the companies for an extension of time to submit a regularisation plan to get a core business.

Posted by linheng > 2023-08-21 20:01 | Report Abuse

Awantec has been without a core business to sustain its operations since December 2020 after Microsoft terminated its membership of the partner network. This was a second setback for Awantec, previously known as Prestariang Bhd.

In December 2019, the Pakatan Harapan government terminated the company’s 15-year concession to design and maintain a new immigration border system. Awantec is seeking compensation of up to RM922 million for the termination. The suit is still pending.

Also, Awantec, through its subsidiary Prestariang Sdn Bhd, is one of the three companies with the mandate to manage the migration of government data to the cloud.

As for Nylex, it has been without a core business since January last year after it disposed of its assets and liabilities to Ancom Bhd in a merger exercise. Nylex is an empty shell without any core business at the moment.

Nevertheless, it is supposed to be the vehicle for a proposed light rail transit (LRT) system to be built in Johor.

Neither Awantec nor Nylex is financially distressed. The issue at hand is that the companies do not have

Posted by linheng > 2023-08-21 20:02 | Report Abuse

an adequate level of business to continue as listed entities.

In this respect, the boards have the fiduciary duty to cast their net wide to help the companies get a core business to fulfil Bursa’s requirement. If they are unable to get a core business, the losers will be the minorities. And the boards should be brought to task.

The regulators should protect the minorities. But by delisting the companies, they are doing just the reverse.

Posted by linheng > 2023-08-21 20:03 | Report Abuse

NEITHER AWANTEC NOR NYLEX IS FINACIALLY DISTRESSED

Posted by linheng > 2023-08-21 20:03 | Report Abuse

So many financially distressed penny stocks not delisted but SC and Bursa approved rights issue to burn cash again

Posted by linheng > 2023-08-21 20:04 | Report Abuse

NO BUSINESS IS BETTER THAN DOING LOSING BUSINESS

Posted by NewTrader92 > 2023-08-22 09:21 | Report Abuse

fundamentally its not making profit in the current financial year, and technically, even if its cheap, the downtrend is still strong. Id be selling all I have until its confirmed with the listing status and start to stabilize again.

Posted by Santiago > 2023-08-22 10:16 | Report Abuse

its best to sell now than getting stucked with a suspended/delisted company. Awantec had almost 3 years to put things in order but they didnt and now facing uncertain times ahead with this delisting danger. I pity all those minority shareholders who will be at the losing end

Posted by badaksumbu > 2023-08-22 10:36 | Report Abuse

Cinta Satu Pompuan , Cinta Sampai Akhir Hayat

Posted by Paktua Second > 2023-08-22 11:04 | Report Abuse

No announcement yet on company already send the reply. Doom to failed.

Posted by zerocool7199 > 2023-08-22 11:09 | Report Abuse

Gg.com

Posted by investfung > 2023-08-22 11:19 | Report Abuse

As im also think as some here AWANTEC should not delisted just because failed to submit regularization plan, but thinking again why extension and extension still cannot submit?

Posted by Paktua Second > 2023-08-22 11:25 | Report Abuse

Because they don't have solid and sustainable core business or customers for their product. That's why

Posted by investfung > 2023-08-22 11:28 | Report Abuse

if to stay, im figure how much the counter will increase IF not delisted? 0.28? 0.32? maybe 0.4 many months later? then i rather sell now than loss all

Posted by Paktua Second > 2023-08-22 11:32 | Report Abuse

Most of case no hope already unless good fundamental business

Posted by investfung > 2023-08-22 11:38 | Report Abuse

Ya, currently I dont see they got good fundamental business model. How can they assure their Cloud business can compete with so many big players in market?

Posted by Paktua Second > 2023-08-22 11:39 | Report Abuse

They said one Pakcik name Pakcik Man is the culprit.

Posted by Iamnotasifu > 2023-08-22 11:50 | Report Abuse

Lets go RM1 end of this month

Posted by EVO118 > 2023-08-22 13:48 | Report Abuse

Do they think there is no chance of them getting suspended by delaying their response? Seriously!

Posted by PepGuardiola > 2023-08-22 15:14 | Report Abuse

Chill guys, enjoy the bull show

Posted by PepGuardiola > 2023-08-22 15:14 | Report Abuse

Fllllllyyyyyyyyyyyyyyyyyy

Posted by PepGuardiola > 2023-08-22 15:14 | Report Abuse

Fllllllyyyyyyyyyyyyyyyyyyyyyyyyy

Posted by PepGuardiola > 2023-08-22 15:14 | Report Abuse

Flllyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy

Posted by linheng > 2023-08-22 15:27 | Report Abuse

Awantec was also issued a show-cause notice by Bursa, where it is required to provide written representations within five market days from Wednesday to explain why its securities should not be suspended from trading and delisted. ie 23 Aug 2023. Last Day. Those see no hope got last chance to sell

Posted by paulthesotong > 2023-08-22 16:07 | Report Abuse

How come The Clueless BOD cannot answers the Qs?

Just reply I dont Know..I cant Remember T dont Care.. Go Ahead Made My Day!

Posted by fl888 > 2023-08-22 16:08 | Report Abuse

Heard leter crafted and to be sent by e-mail…buy….will not be delisted just yet..

Posted by EVO118 > 2023-08-22 16:19 | Report Abuse

Even so, still got to be acceptable. Cutting it a little bit fine.

Posted by linheng > 2023-08-22 17:03 | Report Abuse

As if so difficult to write. Chat GPT can even write a very professional business plan. Just probe it stage by stage. They purposely wait for last day for the Doomsday man to sow panic and sell cheap

Posted by Noname88 > 2023-08-22 18:07 | Report Abuse

already submit doc to burse...it is bursa accept or reject?.....jeng jeng jeng

Posted by linheng > 2023-08-22 18:30 | Report Abuse

Letter submited by UOB Kay Hin today

Posted by fl888 > 2023-08-22 19:32 | Report Abuse

Tomorrow rebound..

Posted by Mar2083 > 2023-08-23 08:02 | Report Abuse

Rebound today
Huat ar

Posted by MAN10143 > 2023-08-23 08:59 | Report Abuse

Rejected. Delisted

Posted by fl888 > 2023-08-23 09:19 | Report Abuse

Qtr result coming out….with RP ….this month..

Posted by Fklim888 > 2023-08-23 09:22 | Report Abuse

due date.....

Posted by Mar2083 > 2023-08-23 09:41 | Report Abuse

Rebound, green, up trend.
Potentially may hit 20sen above
Huat ar

Posted by EVO118 > 2023-08-23 09:46 | Report Abuse

If it is any good it should at least close the gap at 0.40 before moving forward.

Posted by Paktua Second > 2023-08-23 10:02 | Report Abuse

By next week only will know the result

Posted by madett > 2023-08-23 11:12 | Report Abuse

If its good news, surely price will go up first before news is out...likewise also is true...so still have chance to see whether got game or not.

Posted by paktua73 > 2023-08-23 11:23 |

Post removed.Why?

Posted by rr88 > 2023-08-23 11:28 | Report Abuse

Wah, tutup kedai cancelled ka?
Appeal rejected, will open gap down to 8 cents.
You will lose more than half of yr money in a blink of an eye.

Dont play2 arr...watch only..

Posted by PepGuardiola > 2023-08-23 11:31 | Report Abuse

Congrats guys

Posted by rr88 > 2023-08-23 11:32 | Report Abuse

Then 2 weeks later you will lose everything..