proposed share split involving the subdivision of every 2 existing ordinary shares in the Company (“KAB Shares” or “Shares”) into 5 Shares (“Split Shares”) (“Proposed Share Split”).
(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 16 January 2020 in relation to the Proposed Private Placement, where applicable, unless stated otherwise or defined herein.)
Reference is made to the earlier announcement dated 16 January 2020.
On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities has, vide its letter dated 22 January 2020, approved the Proposed Share Split.
The Board of Directors of KAB is pleased to announce that KAB had on 29 January 2020 accepted a Letter of Acceptance ("LOA") with the contract sum of RM20.0 million from Kerjaya Prospek (M) Sdn Bhd [Company No. 199501023204 (352407-U)]. The Company shall act as the domestic subcontractor for the supply, delivery, installation, testing and commissioning of the electrical installation services for Kerjaya Prospek Property Sdn Bhd on three blocks of Hotel, Office and Services Apartment located at Jalan Puchong, Mukim Petaling, Wilayah Persekutuan Kuala Lumpur.
The date of commencement of the contract is on 29 January 2020, i.e. upon the acceptance of the LOA from Kerjaya Prospek (M) Sdn Bhd. The delivery of KAB's services is expected to be completed by 1 November 2022.
The LOA is expected to contribute positively to the future earnings of KAB for the duration of the contract.
There are no foreseeable significant risks other than normal business and operational risk associated with the LOA.
None of the Directors and/or major shareholders of the Company or persons connected with them, have any interest, direct or indirect, in the LOA.
Any one knows what is the public float of KAB ? This counter has been going up from 70 cents in mid December to RM1.95 now without any significant correction. Very rare indeed.
Pursuant to Rule 10.05 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“AMLR”), the Board of Directors of KAB (“Board”) wishes to announce that KAB Energy Power Sdn Bhd ("KABE"), a 90% subsidiary of KAB and Tree Hill Sdn Bhd [Company No. 199301017654 (272392-W)] (“THSB”) (“Purchasers”) have on 5 February 2020 entered into a Sale and Purchase Agreement (“SPA”) with KIEV Energy Sdn Bhd [Company No. 201801028588 (1290614-K)] (“Vendor”) to acquire the entire issued shares in KIEV (“Shares”) for a total cash consideration of RM250,000.00 (“Purchase Consideration”) (“the Proposed Acquisition”).
Please refer to the attachment for further details on the Proposed Acquisition.
Jason1002,once the split approved, the price normally go up & adjusted down. Now it's abt time for the price rally before the approval. Watch the daily volume closely. The adjusted price will give us better opportunity to buy low. With ongoing projects in hands, hopefully the price will go up too
Confirm kaya, do you know the reasons why KAB can suddenly jump up to1. 98 and suddenly drop to 1.92 in just few minutes. And can you please explain what the float is 25% mean
Jason1002, the price volatility is base on demand. Many people buy, the price go up. People sell, price go down.
http://www.asastera.com/stock_fundamentals.html the company has issued & Paid-up Shares 369,103,000. Only 25% of the company shares are available for sell now.75% all baught ody. Once it's 100% fully subscribe, the company need to seek Bursa Malaysia approval to either issue new shares/warrant. Anyone, correct me if I'm wrong?
The Board of Directors' of Kejuruteraan Asastera Berhad ("the Company") wishes to announce that the resolution as set out in the notice convening the Extraordinary General Meeting ("EGM") dated 24 January 2020 was duly passed at the EGM of the Company held earlier today.
The voting in respect of the resolution was carried out by way of poll, results of which was validated by Asia Securities Sdn Bhd, being the independent scrutineer appointed by the Company.
Details of the result of the polling in respect of the resolution at the EGM is set out below.
This announcement is dated 11 February 2020.
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Any TP suggestion ?