Posted by wendyuong > 2019-07-24 16:15 | Report Abuse

Definitely can get the projects ECRL from history performance please be patience all

Posted by Akagami > 2019-07-24 16:34 | Report Abuse

Sorry guys, wrong information, the source is not Am Inv, It is Alliance Inv. & trading platform kikiki.

Posted by rhinos > 2019-07-24 16:39 | Report Abuse

Hehe

Posted by BigBoom123 > 2019-07-24 16:41 | Report Abuse

can close on 0.255?

Posted by rhinos > 2019-07-24 17:03 | Report Abuse

Ok..good

Posted by Newbiesky > 2019-07-24 17:04 | Report Abuse

waiting for Tmrw then

Posted by wolfie_88 > 2019-07-24 17:25 | Report Abuse

Closing at green. Good sign

Posted by 潘国伦 > 2019-07-24 18:26 | Report Abuse

MATERIAL LITIGATION IKHMAS JAYA GROUP BERHAD ("IJGB"OR "THE COMPANY") KUALA LUMPUR HIGH COURT COMPANIES (WINDING-UP) NO. BA-28NCC-442-07/2019 BSG CONSTRUCTION (MALAYSIA) SDN BHD ("Petitioner") vs IJGB

IKHMAS JAYA GROUP BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description IKHMAS JAYA GROUP BERHAD ("IJGB"OR "THE COMPANY")
KUALA LUMPUR HIGH COURT COMPANIES (WINDING-UP) NO. BA-28NCC-442-07/2019 BSG CONSTRUCTION (MALAYSIA) SDN BHD ("Petitioner") vs IJGB
1. INTRODUCTION

The Board of Directors of IJGB wishes to announce that on 23 July 2019, the Company was served with a Winding-Up Petition dated 19 July 2019 together with an Affidavit Verifying Petition from the Petitioner demanding for the payment of the total outstanding sum owing by Ikhmas Jaya Sdn Bhd, the wholly owned subsidiary of IJGB (“IJSB”) to the Petitioner.

The Petition has been fixed for case management on 28 August 2019 and the hearing of the Petition has been fixed on 15 October 2019.

2. PARTICULARS OF THE CLAIM

The Petitioner’s claim is for RM1,452,905.87.

3. THE DETAILS OF DEFAULT OR CIRCUMSTANCES LEADING TO THE WINDING-UP PETITION

IJGB has provided a Corporate Guarantee in favour of the Petitioner in consideration of the Petitioner executing a Settlement Agreement with IJSB, which states among others that the Petitioner is entitled to demand from IJGB to perform the obligations, warranties, duties, liabilities and undertakings of which IJSB is in breach in the same manner that IJSB is required to perform such obligations, warranties, duties, liabilities and undertakings according to the terms of the Settlement Agreement. The execution of the Settlement Agreement was announced on 22 June 2018.

To date, there is an outstanding balance of RM1,452,905.87 from the total sum of RM5,273,346.42 due by IJSB to the Petitioner. The Petitioner has demanded IJGB to settle the balance of the outstanding amount of RM1,452,905.87.

3. FINANCIAL AND OPERATIONAL IMPACT

The Winding-Up Petition would not have any significant financial and operational impact on the Group’s results for the financial year ending 31 December 2019 as the amount has been accrued for in the accounts for the financial year ended 31 December 2018.

4. THE EXPECTED LOSSES, IF ANY.

Except for the legal and incidental expenses, IJGB is not expected to incur any significant losses from the Winding-Up Petition.

5. STEPS TAKEN IN RESPECT OF THE CLAIMS

The matter is currently under negotiation between IJGB and the Petitioner for an amicable out of court settlement. Upon an amicable settlement being reached, the Petitioner’s legal representative would take the necessary steps to withdraw the Winding-Up Petition.

This announcement is dated 24 July 2019.

















Announcement Info
Company Name IKHMAS JAYA GROUP BERHAD
Stock Name IKHMAS
Date Announced 24 Jul 2019
Category General Announcement for PLC
Reference Number GA1-24072019-00039

Posted by rhinos > 2019-07-24 18:31 | Report Abuse

This bad or good news

Posted by Akagami > 2019-07-24 18:38 | Report Abuse

only 1.4M, tiny.

Posted by laofuzi123 > 2019-07-24 18:39 | Report Abuse

Gadang quarter bomb lol here kena affect?

Posted by Newbiesky > 2019-07-24 18:40 | Report Abuse

not something new. hearing will start on 15 October with case management on 28 august. they still got plenty of time to strike out a deal for out of court settlement

Posted by Newbiesky > 2019-07-24 18:41 | Report Abuse

ofcourse, it still Depends on how the public digest the news tho. yes, the sum is 1.4 million, can consider as quite small

Posted by 潘国伦 > 2019-07-24 18:44 | Report Abuse

This bad or good news？

Posted by BigBoom123 > 2019-07-24 18:47 | Report Abuse

bad news

Posted by T800Terminator > 2019-07-24 18:48 | Report Abuse

Gone case. Back to PP price tomorrow?

Posted by 潘国伦 > 2019-07-24 18:50 | Report Abuse

2moro gg.com

Posted by wendyuong > 2019-07-24 18:55 | Report Abuse

1.4 million mot affect the company la. Remember ecrl is coming everyone...

Posted by Ncm88 > 2019-07-24 18:55 | Report Abuse

Dont forget about sunway sue case

Posted by wendyuong > 2019-07-24 18:56 | Report Abuse

Around 4 million

Posted by wendyuong > 2019-07-24 18:57 | Report Abuse

For Sunway sue case lo.... Not much still...

Posted by BigBoom123 > 2019-07-24 19:00 | Report Abuse

even bad news, but i think it will not affected so much on share price... ECRL is coming.

Posted by Newbiesky > 2019-07-24 19:07 | Report Abuse

yes, but not everyone had such opinion like u. some might see it as a bad news. see this few weeks, how the market will react with such news

Posted by wendyuong > 2019-07-24 19:20 | Report Abuse

Old case...

Posted by Akagami > 2019-07-24 19:21 | Report Abuse

only some people knee-jerk reaction won't affect the price.. mostly aware of the amount.

Posted by wendyuong > 2019-07-24 19:22 | Report Abuse

Come out this new to make investor panick... Hahaha Than ECRL enter than shoot up...

Posted by wendyuong > 2019-07-24 19:23 | Report Abuse

All the wolf will come when a small thing happen.. lol

Posted by BigBoom123 > 2019-07-24 19:28 | Report Abuse

ECRL not yet annouced, still very difficult to say. But i think tomorrow will affected by Gadang bad result.

Posted by wendyuong > 2019-07-24 19:30 | Report Abuse

May I know jays Gadang?

Posted by investortrader88 > 2019-07-24 21:31 | Report Abuse

hope tmrw have good news

Posted by Akagami > 2019-07-24 21:34 | Report Abuse

yeah, Gadang ppl sell their holding then switch to Ikhmas.. hahahaha

Posted by wendyuong > 2019-07-24 21:49 | Report Abuse

Hahahaha yeah yeah Akagami

Posted by Mabel > 2019-07-24 22:13 | Report Abuse

I hope it's not going to be another Barakah. If you remember the defaults was not done by the Barakah but by the subsidiary and the amount is equally minute..

Posted by wendyuong > 2019-07-24 22:21 | Report Abuse

Mabel can you explain properly sis?

Posted by Newbiesky > 2019-07-24 22:25 | Report Abuse

I get what u meant Mabel, but this scenario is Abit different perhaps?

Posted by wendyuong > 2019-07-24 22:29 | Report Abuse

Yeah agree with Newbiesky! This one so far IKhmas get a few projects on hand on this year. And ECRL is coming! Hmm..

Posted by T800Terminator > 2019-07-24 22:31 | Report Abuse

1.4M also default. How to get ECRL big project??

Posted by Newbiesky > 2019-07-24 22:31 | Report Abuse

for me, barakah, their subsidiary defaulted bank loan, while this one, they default in payment to another company, and the amount is 1.4 million only.

Posted by Newbiesky > 2019-07-24 22:32 | Report Abuse

plus, its been stated inside the announcement, they are negotiating with the other party for out of court settlement.

Posted by Newbiesky > 2019-07-24 22:32 | Report Abuse

but anyhow, I might be wrong as well on this view. haha

Posted by wendyuong > 2019-07-24 22:38 | Report Abuse

Hahaha yeah everyone got different perspective...

Posted by wendyuong > 2019-07-24 22:58 | Report Abuse

They have the project on hand can negotiation with other party. I think should be no problems.. How they going to get the ECRL project. In the past chairman of IKhmas worked in the Ministry of Affairs. So I think he got connection with government people. And is easier for him to get ECRL projects. Maybe I’m wrong! But let’s see what’s happening.

Posted by investortrader88 > 2019-07-25 07:11 | Report Abuse

play safe.buy econpile just in case ikhmas wont get job from ecrl

Posted by Mabel > 2019-07-25 07:39 | Report Abuse

@wendyuong Mabel can you explain properly sis?

You can read here Sis..

Barakah announced its subsidiary unit, Kota Laksamana 101 Ltd, had received a notice of demand from Export-Import Bank of Malaysia (Exim Bank) for US$2.65mil owed under its Ijarah facility agreement.

Read more at https://www.thestar.com.my/business/business-news/2019/05/23/barakah-falls-21pct-on-news-of-loan-default/#BbHFJH19VXYU3slL.99

Posted by Mabel > 2019-07-25 07:40 | Report Abuse

@Newbiesky plus, its been stated inside the announcement, they are negotiating with the other party for out of court settlement.

Let's hope for the best!

Posted by wendyuong > 2019-07-25 08:09 | Report Abuse

They can ask money from the customer and pay the money to other party sis. It’s a small amount. I think they can settle among themself. It’s a RM1.4million . It’s not rm100Million. I think should be fine wor!

Posted by wendyuong > 2019-07-25 08:09 | Report Abuse

Thank for your information sis...

Posted by Mabel > 2019-07-25 08:43 | Report Abuse

Noted and thanks Sis!

Posted by Akagami > 2019-07-25 08:46 | Report Abuse

Ms Mabel, may i know any new company you invest? I want new trading idea. Thnx!

Posted by rhinos > 2019-07-25 08:56 | Report Abuse

Mode sell i think