Actually can reach 2 :00 easily. Just that got people want less money by selling today., instead of selling at 2.70. .hence eg any one sold 1.70 @ 50 lots today actually could make 50k more in due time. ..what to do.. so many poor people around happy with peanuts
KUALA LUMPUR: Engineering and project management consultant, HSS Engineers Bhd (HEB), is poised to emerge as a premier engineering consultancy firm in the country and in the region as it consolidates its expertise while increasing its size and scale of capabilities.
Executive Director, Tan Sri Ir Kuna Sittampalam, said with the acquisition of SMHB Engineering Sdn Bhd, the group was expected to be able to compete globally, including in India and the Philippines.
“We are looking at opportunities out there and locally we are ready to participate in the coming Mass Rapid Transit 3.
“Wherever the government infrastructure projects are, we will go because we do not choose,” he told reporters after the company’s extraordinary general meeting (EGM) here today.
Kuna, however, said the focus on the mergers and acquisitions would need to rightly and culturally complement the group’s businesses.
“We are in no hurry but we are hungry, and as Harvard Business reported, 85% of all mergers failed globally, we will not acquire if it does not fit us,” he said.
Meanwhile, its Chief Executive Director, Datuk Ir B Nitchianathan, said the group would also focus on the Building Information Modelling (BIM), which could potentially contribute substantially to the group if the government, through the Works Ministry, would enforce it in 2019.
“BIM is a big growth area and we are probably the only one that carries the in-house facility.
“So currently we are looking to find partners in this area as we want to expand further,” he said, adding that BIM was still at an infant stage of implementation.
BIM is an intelligent 3D model-based process that gives architecture, engineering, and construction professionals the insight and tools to efficiently plan, design, construct and manage buildings and infrastructure.
At its EGM, Nitchiananthan said, the company has obtained shareholders’ approval for the acquisition of the entire stake of SMHB for RM270mil.
He said the funding involved bank borrowings of RM85mil; RM89mil from private placement and rights issue; and the issuance of new shares in HEB to SMHB vendors at RM1.14 per share.
SMHB is involved mainly in the water and waste water management as well as water infrastructure related.
Nitchiananthan said after the completion of the acquisition of SMHB, the group would still allow SMHB to operate independently in the next three years to enable a better understanding between both parties’ core business.
“With the acquisition, we will expect a saving of about 5% to 10% in our non-core business,” he said.
On water business outlook, Nitchiananthan said, he was optimistic the group could tap into plenty of opportunities, including services to solve water shortages, namely, in Selangor and Negeri Sembilan.
“Overall, we are confident 2018 would be a much better year for us compare to last year,” he said. - Bernama
On behalf of the Board, Maybank IB wishes to announce that the Board has today fixed the following:
(i) the issue price for the Rights Shares at RM1.30 each (“Rights Issue Price”) at an entitlement basis of 1 Rights Share for every 10 existing HEB Shares held as at 5.00 p.m. on 21 February 2018 (“Entitlement Date”); and
(ii) the exercise price for the Warrants at RM1.70 each (“Exercise Price”) at an entitlement basis of 3 Warrants for every 2 Rights Shares subscribed.
Title/Description Renounceable rights issue of up to 31,908,101 new ordinary shares in HSS Engineers Berhad ("HEB") ("Rights Shares") on the basis of one (1) Rights Share for every ten (10) existing ordinary shares in HEB ("HEB Shares") held as at 5.00 p.m. on 21 February 2018 at an issue price of RM1.30 per Rights Share, together with a bonus issue of up to 15,954,050 new HEB Shares ("Bonus Shares") on the basis of one (1) Bonus Share for every two (2) Rights Shares subscribed and up to 47,862,151 free detachable warrants (Warrants) on the basis of three (3) Warrants for every two (2) Rights Shares subscribed Despatch date 23 Feb 2018 Date for commencement of trading of rights 22 Feb 2018 Date for cessation of trading of rights 01 Mar 2018 Date for announcement of final subscription result and basis of allotment of excess Rights Securities 14 Mar 2018 Listing Date of the Rights Securities 21 Mar 2018
Type Announcement Subject OTHERS Description HSS ENGINEERS BERHAD ("HEB" OR THE "COMPANY")- VARIATIONS AND EXTENSION OF TIMEFRAME OF THE UTILISATION OF PROCEEDS RAISED FROM THE INITIAL PUBLIC OFFERING The Board wishes to announce its intention to vary the utilisation of proceeds raised from the initial public offering ("IPO") exercise in conjunction with the listing of and the quotation of its entire share capital on the ACE Market of Bursa Malaysia Securities Berhad on 10 August 2016. The Company has raised gross proceeds of approximately RM31.91 million from its IPO ("IPO Proceeds").
Please refer to the attachment for further details.
This company has a lot of things going on. Hold tight.
Date Project From Value (RM) Contribution 7-Mar-17 Syarikat Air Darul Aman Sdn. Bhd. 5,391,088 2017 3-Apr-17 MyHSR Corporation Sdn Bhd 17,888,181 2017 1-Aug-17 NAZA Corporation Holdings Sdn Bhd 19,288,377 2017-2021 9-Aug-17 CCC (M) Sdn Bhd 16,500,000 2017 14-Aug-17 BBCC Development Sdn Bhd 6,429,000 2017-2021 11-Sep-17 Pengurusan Aset Air Berhad 5,087,313 2017-2022 13-Sep-17 PNB Commercial Sdn Bhd 10,000,000 2017-2022 28-Dec-17 CCC (ECRL) Sdn Bhd 82,500,000 2018-2024 17-Jan-18 CCC (ECRL) Sdn Bhd 25,000,000 2018-2026 18-Jan-18 Kementerian Wilayah Persekutuan 14,310,000 2018-2019
Look forward to the big pictures- acquisition of the SMHB Enginnering will enhance the group's turnover, strength and profitability, Immediate attractions to end by close of tomorrow's market day, 19/2/18 is the ex-date: rights issue at RM1.30, bonus issue and free warrants.
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....
Campione
68 posts
Posted by Campione > 2018-01-18 15:10 | Report Abuse
The contracts awarded are UNSTOPPABLE !!!!!!!