IRIS - MATERIAL LITIGATION
| Company Name | IRIS CORPORATION BERHAD (ACE Market) |
| Stock Name | IRIS |
| Date Announced | 30 Jul 2013 |
| Category | General Announcement |
| Reference No | IC-130730-61812 |
| Type | Announcement | ||
| Subject | MATERIAL LITIGATION | ||
| Description | MATERIAL LITIGATION IN THE HIGH COURT OF MALAYA IN KUALA LUMPUR BETWEEN IRIS ECO POWER SDN BHD (“IEP”) A WHOLLY OWNED SUBSIDIARY OF IRIS CORPORATION BERHAD (“COMPANY”) AND IPSA GROUP PLC, A COMPANY INCORPORATED IN THE UNITED KINGDOM FOR THE REFUND OF DEPOSIT PAID FOR EQUIPMENT TO THE SUM OF USD 3,100,000. | ||
MATERIAL LITIGATION IN THE HIGH COURT OF MALAYA IN KUALA LUMPUR BETWEEN IRIS ECO POWER SDN BHD (“IEP”) A WHOLLY OWNED SUBSIDIARY OF IRIS CORPORATION BERHAD (“COMPANY”) AND IPSA GROUP PLC, A COMPANY INCORPORATED IN THE UNITED KINGDOM FOR THE REFUND OF DEPOSIT PAID FOR EQUIPMENT TO THE SUM OF USD 3,100,000. 1. INTRODUCTION IRIS CORPORATION BERHAD (the Company”) wishes to announce that its wholly owned subsidiary, IRIS ECO POWER SDN BHD (“IEP”/ Plaintiff) has via it’s solicitors’ Messrs Chellam & Wong filed a Writ of Summons and Statement of Claim against IPSA Group Plc, a public listed company incorporated in the United Kingdom (the “Defendant”) on 26TH July, 2013. 2. RATIONALE FOR THE SUIT The legal suit is pursuant to the Plaintiff’s purchase of Equipment (defined as 2 gas turbine generating sets with ancillary equipment) from the Defendant for a total purchase price of United States Dollars Thirty One Million (USD31,000,000) equivalent RM95,945,000 [@USD3.095] wherein the Plaintiff paid a Deposit of USD3,100,000 equivalent to RM 9,594,500 being 10% of the total purchase price. The brief justification for the suit is based on the following issues set forth below:- (1) The Defendant required the Deposit prior to the Plaintiff being allowed to inspect the Equipment; (2) Defendant represented that if the Deposit was not paid by the Plaintiff; the Equipment would be sold to a third party; (3) Defendant represented to the Plaintiff that should the inspection of the Equipment yield unsatisfactory results, the Deposit would be refunded and the Defendant would be at liberty to sell the Equipment to other third parties; (4) The Plaintiff discovered that the contrary to the Defendant’s representations, the Defendant is not the owner of the Equipment and had no requisite power to sell the Equipment to the Plaintiff and that the Equipment was in fact defective and not of merchantable quality state and/or fit for its purpose; and (5) Plaintiff through its subsidiary, Oil Field Services Ltd (“Power Proponent Company”) had entered into an agreement with the Government of Iraq for the supply of electricity and as such the Plaintiff had to purchase the Equipment for the said power supply contract and this fact was represented to the Defendant. The Plaintiff requested the Defendant to address and resolve the above issues however the Defendant failed, refused and/or neglected to respond to the Plaintiff’s notice. Hence the Plaintiff on 28th February 2013 sent a letter to the Defendant’s office demanding a refund of the said Deposit however the Defendant to date has refused to refund the Deposit and announced the probable sale of the Equipment to a third party. The Plaintiff claims for a refund of the Deposit to the amount of USD3,100,000, damages to the amount of RM20,000,000 being damages incurred as a result of point (5) above, damages for the loss of investment in the Power Proponent Company to the amount of USD500,000 and all monies paid in respect or in connection with the purchase of the Equipment “in restitution in integrum” in accordance with Section 66 of the Contracts Act 1950 and costs incurred in the cause.
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IRIS - OTHERS IRIS Corporation Berhad (“ICB”) - Proposed First and Final Dividend
| Company Name | IRIS CORPORATION BERHAD (ACE Market) |
| Stock Name | IRIS |
| Date Announced | 30 Jul 2013 |
| Category | General Announcement |
| Reference No | IC-130730-60583 |
| Type | Announcement |
| Subject | OTHERS |
| Description | IRIS Corporation Berhad (“ICB”) - Proposed First and Final Dividend |
The Board of Directors of IRIS Corporation Berhad is pleased to propose a first and final tax-exempt dividend of 0.45 sen per ordinary share in respect of the financial period which ended 31 March 2013, subject to the approval of the shareholders at the forthcoming Nineteen Annual General Meeting. The entitlement date and date of payment in respect of the aforesaid proposed first and final tax-exempt dividend will be determined and announced at a later date. The announcement is dated 30 July 2013. | |
CUSCAPI - OTHERS CUSCAPI BERHAD ("CUSCAPI" OR THE "COMPANY") PROPOSED TRANSFER OF THE LISTING OF AND QUOTATION FOR THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF CUSCAPI FROM THE ACE MARKET TO THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD ("PROPOSED TRANSFER")
| Company Name | CUSCAPI BERHAD (ACE Market) |
| Stock Name | CUSCAPI |
| Date Announced | 30 Jul 2013 |
| Category | General Announcement |
| Reference No | MI-130730-62193 |
| Type | Announcement |
| Subject | OTHERS |
| Description | CUSCAPI BERHAD ("CUSCAPI" OR THE "COMPANY") PROPOSED TRANSFER OF THE LISTING OF AND QUOTATION FOR THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF CUSCAPI FROM THE ACE MARKET TO THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD ("PROPOSED TRANSFER") |
The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposed Transfer. We refer to the announcements dated 26 November 2012 and 19 July 2013. On behalf of the Board of Directors of Cuscapi, RHB Investment Bank Berhad wishes to announce that the application in relation to the Proposed Transfer had been submitted to Bursa Malaysia Securities Berhad on 30 July 2013. | |
ASDION - Changes in Director's Interest (S135) - Onn Keet Peng
| Company Name | ASDION BERHAD (ACE Market) |
| Stock Name | ASDION |
| Date Announced | 30 Jul 2013 |
| Category | Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965 |
| Reference No | C&-130730-C00AB |
Information Compiled By KLSE
Particulars of Director
| Name | Onn Keet Peng |
| Address | 11A Jalan Wawasan 2/2, Pusat Bandar Puchong, 47100 Puchong, Selangor |
| Descriptions(Class & nominal value) | Ordinary Shares - RM0.10 |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Disposed | 121,800 |
| Circumstances by reason of which change has occurred | Disposal of Shares |
| Nature of interest | Direct Interest |
| Consideration (if any) |
Total no of securities after change | |
| Direct (units) | 0 |
| Direct (%) | 0 |
| Indirect/deemed interest (units) | 0 |
| Indirect/deemed interest (%) | 0 |
| Date of notice | 29/07/2013 |
MQTECH - Notice of Person Ceasing (29C) - MAGNECOMP PRECISION TECHNOLOGY PUBLIC COMPANY LIMITED (Amended Announcement)
| Company Name | MQ TECHNOLOGY BERHAD (ACE Market) |
| Stock Name | MQTECH |
| Date Announced | 30 Jul 2013 |
| Category | Notice of Person Ceasing to be a Substantial Shareholder Pursuant to Form 29C of the Companies Act. 1965 |
| Reference No | CC-130730-A0EAD |
Particulars of substantial Securities Holder
| Remarks : |
| The Form 29C was received by the Company on 29 July 2013. |
ESCERAM - OTHERS ES Ceramics Technology Berhad ("ES Ceramics" or "Company") Extension of time to comply with the Bumiputera Equity Condition
| Company Name | ES CERAMICS TECHNOLOGY BHD (ACE Market) |
| Stock Name | ESCERAM |
| Date Announced | 30 Jul 2013 |
| Category | General Announcement |
| Reference No | CA-130730-48968 |
| Type | Announcement |
| Subject | OTHERS |
| Description | ES Ceramics Technology Berhad ("ES Ceramics" or "Company") Extension of time to comply with the Bumiputera Equity Condition |
The terms used herein shall, unless
the context otherwise stated, bear the same meaning as those defined in the
announcements dated 17 May 2010, 27 September 2011, 20 December 2011 and 24
September 2012 in relation to the extension of time for the Company to comply
with the Bumiputera Equity Condition. We refer to the Company's
announcements dated 17 May 2010, 27 September 2011, 20 December 2011 and 24
September 2012 on the above. The Board of Directors of ES
Ceramics ("Board") wishes to announce that the Company had received a
letter dated 30 July 2013 from RHB Investment Bank Berhad informing its
resignation as the adviser to the Company in relation to the above-captioned
matter with effect from 30 July 2013. Pursuant to the above, the Board
will explore other avenues which include, amongst others, to appoint a new
adviser to advise the Company on the compliance with the Bumiputera Equity
Condition and shall make the necessary announcement(s) in due course. This announcement is dated 30 July
2013.
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WINSUN - Change in Boardroom
| Company Name | WINSUN TECHNOLOGIES BERHAD (ACE Market) |
| Stock Name | WINSUN |
| Date Announced | 30 Jul 2013 |
| Category | Change in Boardroom |
| Reference No | CC-130730-37526 |
| Date of change | 29/07/2013 |
| Name | Tn. Hj. Mohamad Shuib Bin Hj. Abd Ghani |
| Age | 58 |
| Nationality | Malaysian |
| Designation | Non-Executive Director |
| Directorate | Independent & Non Executive |
| Type of change | Resignation |
| Reason | Personal commitment |
| Details of any disagreement that he/she has with the Board of Directors | No |
| Whether there are any matters that need to be brought to the attention of the shareholders | No |
| Qualifications | B.Sc. (Chem. Eng.) and MBA (General Management), MIM from University of Bath, Bath in United Kingdom. |
| Working experience and occupation | He started his career as a Research Officer in Ministry of Defence from 1978 to 1981. He then joined MIDF Group in December 1981 until his retirement in July 2010. He started as a Project Officer in evaluating manufacturing projects for loan appraisal. In 1983, he joined a new section called Implementation & Management Services responsible in providing assistance to Bumiputra clients in the implementation of new projects and revival of problem projects. From June 1986, he was transferred to the Promotion Section of Bumiputra Development Department to undertake the marketing of loans and project appraisal. He was promoted to Senior Project Officer in April 1987. In July 1988, he was promoted to middle management level as Head (Implementation & Management Services) of the Promotion Section under the Bumiputra Development Department. He was selected for secondment to MIDF Consultancy & Corporate Services Sdn Bhd (MIDFCCS) as an Acting Deputy General Manager in November 1990 until February 1991 where he was involved in several share issue exercise. As to gain wider exposure, he was transferred horizontally as Head (Promotion) of the Promotion Section in the Bumiputra Development Department from where he was responsible for the marketing, appraisal and supervision of projects for the period from April 1991 to October 1994. In November 1994, he was seconded to MIDFCCS as a General Manager until he retired as the Chief Executive Officer. |
| Directorship of public companies (if any) | None |
| Family relationship with any director and/or major shareholder of the listed issuer | None |
| Any conflict of interests that he/she has with the listed issuer | None |
| Details of any interest in the securities of the listed issuer or its subsidiaries | None |
WINSUN - Change in Audit Committee
| Company Name | WINSUN TECHNOLOGIES BERHAD (ACE Market) |
| Stock Name | WINSUN |
| Date Announced | 30 Jul 2013 |
| Category | Change in Audit Committee |
| Reference No | CC-130730-36098 |
| Date of change | 29/07/2013 |
| Name | Tn. Hj. Mohamad Shuib Bin Abd Ghani |
| Age | 58 |
| Nationality | Malaysian |
| Type of change | Resignation |
| Designation | Member of Audit Committee |
| Directorate | Independent & Non Executive |
| Qualifications | B.Sc. (Chem. Eng.) and MBA (General Management), MIM from University of Bath, Bath in United Kingdom. |
| Working experience and occupation | He started his career as a Research Officer in Ministry of Defence from 1978 to 1981. He then joined MIDF Group in December 1981 until his retirement in July 2010. He started as a Project Officer in evaluating manufacturing projects for loan appraisal. In 1983, he joined a new section called Implementation & Management Services responsible in providing assistance to Bumiputra clients in the implementation of new projects and revival of problem projects. From June 1986, he was transferred to the Promotion Section of Bumiputra Development Department to undertake the marketing of loans and project appraisal. He was promoted to Senior Project Officer in April 1987. In July 1988, he was promoted to middle management level as Head (Implementation & Management Services) of the Promotion Section under the Bumiputra Development Department. He was selected for secondment to MIDF Consultancy & Corporate Services Sdn Bhd (MIDFCCS) as an Acting Deputy General Manager in November 1990 until February 1991 where he was involved in several share issue exercise. As to gain wider exposure, he was transferred horizontally as Head (Promotion) of the Promotion Section in the Bumiputra Development Department from where he was responsible for the marketing, appraisal and supervision of projects for the period from April 1991 to October 1994. In November 1994, he was seconded to MIDFCCS as a General Manager until he retired as the Chief Executive Officer. |
| Directorship of public companies (if any) | None |
| Family relationship with any director and/or major shareholder of the listed issuer | None |
| Any conflict of interests that he/she has with the listed issuer | None |
| Details of any interest in the securities of the listed issuer or its subsidiaries | None |
| Composition of Audit Committee (Name and Directorate of members after change) | Chairman: Mohd Sopiyan Bin Mohd Rashdi (Independent Non-Executive Director) Member: Fu Lit Fung (Independent Non-Executive Director) Mohamad Farid Bin Mohd Yusof (Non-Independent Non-Executive Director) |
WINSUN - Change in Audit Committee
| Company Name | WINSUN TECHNOLOGIES BERHAD (ACE Market) |
| Stock Name | WINSUN |
| Date Announced | 30 Jul 2013 |
| Category | Change in Audit Committee |
| Reference No | CC-130730-36708 |
| Date of change | 29/07/2013 |
| Name | Mohamad Farid Bin Mohd Yusof |
| Age | 55 |
| Nationality | Malaysian |
| Type of change | Appointment |
| Designation | Member of Audit Committee |
| Directorate | Non Independent & Non Executive |
| Qualifications | Master in Business Administration from University of Northern Colorado in the United State of America. |
| Working experience and occupation | He began his career with the Bank of Commerce Berhad (now known as CIMB Bank Berhad) in 1984, specifically in the Banking Division where he was exposed to areas encompassing customer services; business development and maintenance; analysis of business opportunities and risk; financial analysis; loan portfolio management; loan recovery and restructuring; legal documentation; and planning, organising and control. In 1995, he left the commercial banking sector to become the General Manager cum Head, Debt Capital Market Department of KAF Discounts Berhad (now known as KAF Investment Bank Berhad). He involved in assisting the management in formulating, implementing and monitoring effective and sound investment approval policies, guidelines and procedures, and overseeing the development and marketing of new business. He also assisted clients in project viability analysis and the arrangement of fund raising through the issuance of private debt securities such as bonds, medium-term notes and short-term commercial papers. He left KAF in early 2007 to set up his own corporate and business consultancy outfit to assist corporations in fund raising exercises and providing advisory services. Mohamad Farid was the Chief Executive Officer of Primabaguz Sdn Bhd from November 2009 until June 2012, and a Director in its wholly owned subsidiaries PAP Cashnet (M) Sdn Bhd, PAP Marketing Sdn Bhd and Next Choice Sdn Bhd. |
| Directorship of public companies (if any) | Protasco Berhad |
| Family relationship with any director and/or major shareholder of the listed issuer | None |
| Any conflict of interests that he/she has with the listed issuer | None |
| Details of any interest in the securities of the listed issuer or its subsidiaries | None |
| Composition of Audit Committee (Name and Directorate of members after change) | Chairman: Mohd Sopiyan Bin Mohd Rashdi (Independent Non-Executive Director) Member: Fu Lit Fung (Independent Non-Executive Director) Mohamad Farid Bin Mohd Yusof (Non-Independent Non-Executive Director) |
BOILERM - Annual Audited Accounts - 31 March 2013
| Company Name | BOILERMECH HOLDINGS BERHAD (ACE Market) |
| Stock Name | BOILERM |
| Date Announced | 30 Jul 2013 |
| Category | PDF Submission |
| Reference No | CK-130730-39197 |
| Admission Sponsor | RHB Investment Bank Bhd |
| Subject | Annual Audited Accounts - 31 March 2013 |
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