As predicted PASUKGB went down after consolidation, I sold about 2 weeks ago at 19 sen....I'm now at MRCB-C9 @ 4 sen and MRCB-C12 @ 2 sen, come join me if interested.
Reference is made to the Company’s announcement on 17 August 2017 in relation to the Decision dated 16 August 2017 (“Adjudication Decision”) on the Adjudication between Pasukhas Construction Sdn. Bhd. (Formerly known as Pasukan Khas Construction Sdn. Bhd (“PKC”) and Samsung C&T Corporation UEM Corporation Construction JV Sdn. Bhd. (“Samsung”) in relation to the CIPAA Payment Claim related to the sub contract works: RC Works for the tower contract no. SSUEM/201512/DSC/4 in regards to the project known as "Cadangan Membina 1 Blok Bangunan Perdagangan Bercampur 118 Tingkat di atas Lot 795, 796, 799, 800 & Sebahagian Lot 743, 746, 802, 803, Rezab Jalan & Laman, Mukim Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan for PNB Merdeka Ventures Sdn Berhad (“Subcontract”) and subsequent announcement on 28 August 2017 pertaining to PKC had received a Notice of Arbitration dated 24 August 2017 from Samsung vide its solicitors, Messrs Wong & Partners to resolve the disputes on the Subcontract.
The Board of Directors of PGB wishes to inform that Samsung via its solicitors had on 29 August 2017 filed an originating summons at the Kuala Lumpur High Court (Originating Summons No. WA-24C-155-08/2017) against PKC that an interim stay of enforcement of the Adjudication Decision be granted.
Subsequently, PKC via its solicitors Messrs Kheng Hoe had on 7 September 2017 filed an originating summons at the Kuala Lumpur High Court (Originating Summons No. WA-24C-159-09/2017) against Samsung that the Adjudication Decision dated 16 August 2017 be enforced against Samsung.
Upon hearing the parties on 2 October 2017, the Court dismissed Samsung’s application for Stay and allowed PKC’s application for enforcement of the Adjudication Decision dated 16 August 2017.
PGB will make further announcements on any material development on this matter from time to time.
Based on their recent announcement of its coal trading business, a total of USD 15.09 mil coal trading business with 5% margin (conservative), that would give the Company a bottomline of USD 0.75 mil which translates into RM3 mil profit. On top of its current business, I suspect this would give the Company a PE about 30 times
DisC Based on their recent announcement of its coal trading business, a total of USD 15.09 mil coal trading business with 5% margin (conservative), that would give the Company a bottomline of USD 0.75 mil which translates into RM3 mil profit. On top of its current business, I suspect this would give the Company a PE about 30 times 05/03/2018 11:22
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pengwin
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Posted by pengwin > 2017-07-14 14:53 | Report Abuse
As predicted PASUKGB went down after consolidation, I sold about 2 weeks ago at 19 sen....I'm now at MRCB-C9 @ 4 sen and MRCB-C12 @ 2 sen, come join me if interested.