August 28, 2013

Company announcements: PATIMAS, UCHITEC, IRMGRP, TGOFFS, FAVCO, DUFU

PATIMAS - Quarterly rpt on consolidated results for the financial period ended 30/6/2013

Announcement Type: Financial Results
Company NamePATIMAS COMPUTERS BERHAD  
Stock Name PATIMAS  
Date Announced28 Aug 2013  
CategoryFinancial Results
Reference NoCC-130828-60213

Financial Year End31/03/2014
Quarter1
Quarterly report for the financial period ended30/06/2013
The figureshave not been audited

Attachments

Patimas- Q1 2014.pdf
44 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/06/2013
30/06/2012
30/06/2013
30/06/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
2,762
11,533
2,762
11,533
2Profit/(loss) before tax
-2,551
-4,927
-2,551
-4,927
3Profit/(loss) for the period
-1,868
-4,927
-1,868
-4,927
4Profit/(loss) attributable to ordinary equity holders of the parent
-1,866
-4,880
-1,866
-4,880
5Basic earnings/(loss) per share (Subunit)
-0.22
-0.64
-0.22
-0.64
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
-0.0600
-0.0600
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


UCHITEC - WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR

Announcement Type: General Announcement
Company NameUCHI TECHNOLOGIES BERHAD  
Stock Name UCHITEC  
Date Announced28 Aug 2013  
CategoryGeneral Announcement
Reference NoCP-130828-43001

TypeAnnouncement
SubjectWINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
DescriptionUchi Technologies Berhad ("UTB")
Members' Voluntary Winding-Up of Uchi Industries (M) Sdn. Bhd.

The Board of Directors of UTB wishes to announce that the Liquidator of Uchi Industries (M) Sdn. Bhd. (“UISB”), a wholly owned subsidiary of Uchi Electronic (M) Sdn. Bhd.(“UEM”), which in turn is a wholly owned subsidiary of UTB which has been placed under members’ voluntary winding-up pursuant to Section 254(1)(b) of the Companies Act 1965, has on 13 August 2013 informed UEM that they had on 21 June 2013 lodged the Form 69 (Return by Liquidator relating to Final Meeting) to the relevant authorities to conclude the liquidation of UISB.

Mr. Neoh Chin Wah of Messrs. AljeffriDean was appointed as Liquidator to conduct the winding-up of UISB on 21 November 2012.

The winding-up of UISB will not have any material impact on the consolidated earnings or net assets of the UTB Group for the financial year ending 31 December 2013. UISB has always been dormant since 13 December 1989, its date of incorporation.

None of the Directors or major shareholders of UTB or persons connected to them has any interest, direct or indirect interest, in the winding-up of UISB.

The Board of Directors of UTB is of the opinion that the above winding-up is in the best interest of the Group.

This announcement is dated 28 August 2013.






IRMGRP - Quarterly rpt on consolidated results for the financial period ended 30/6/2013

Announcement Type: Financial Results
Company NameIRM GROUP BERHAD  
Stock Name IRMGRP  
Date Announced28 Aug 2013  
CategoryFinancial Results
Reference NoCS-130828-A9E88

Financial Year End31/12/2013
Quarter2
Quarterly report for the financial period ended30/06/2013
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/06/2013
30/06/2012
30/06/2013
30/06/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
848
31,382
7,378
68,429
2Profit/(loss) before tax
-5,861
-3,508
-9,893
-4,563
3Profit/(loss) for the period
-5,861
-2,821
-9,893
-3,876
4Profit/(loss) attributable to ordinary equity holders of the parent
-5,861
-2,821
-9,893
-3,876
5Basic earnings/(loss) per share (Subunit)
-4.51
-2.17
-7.61
-2.98
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.1770
0.2530
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


IRMGRP - PRACTICE NOTE 1 / GUIDANCE NOTE 5:NEW DEFAULT

Announcement Type: General Announcement
Company NameIRM GROUP BERHAD  
Stock Name IRMGRP  
Date Announced28 Aug 2013  
CategoryGeneral Announcement
Reference NoCS-130828-B897B

TypeAnnouncement
SubjectPRACTICE NOTE 1 / GUIDANCE NOTE 5
NEW DEFAULT
DescriptionIRM GROUP BERHAD (“IRMGB”)
- Default in Payment pursuant to Practice Note 1 (PN1) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements (“Main LR”)
IRM Group Berhad ("IRMGB" or "The Company") wishes to announce that the Company's subsidiary Industrial Resin (Malaysia) Sdn. Bhd. ("IRMSB"), a subsidiary of the Company has defaulted in its' repayment of the following trade facilities to CIMB Bank Berhad (“CIMB”), Hong Leong Bank Berhad (“HLBB”), and Al-Rajhi Banking & Investment Corporation (Malaysia) Berhad (“Al-Rajhi”) (collectively known as “the Banks”):-
No.Facility
Amount Due As At
28 August 2013
1.Trade FacilityCIMB – Amount due: RM5.424 million
2.Trade FacilityHLBB – Amount due: RM7.084 million
3.Trade FacilityAl-Rajhi – Amount due: RM3.654 million
4.Revolving Credit Facility (“RC facility”)CIMB – Amount due: RM500,000
5.Term LoanHLBB – Amount due: RM2.029 million
6.Term LoanAl-Rajhi – Amount due: RM2.592 million
7.Structured Commodity Financing (“SCF”)Al-Rajhi – Amount due: RM782,000

a) Date of default
No.Facility
Date of First Default
1.CIMB – Trade Facility
14 March 2013
2.HLBB – Trade Facility
12 April 2013
3.Al-Rajhi – Trade Facility
13 April 2013
4.CIMB – RC facility
30 March 2013
5.HLBB – Term Loan
1 February 2013
6.Al-Rajhi – Term Loan
1 January 2013
7.Al-Rajhi – SCF
1 July 2013

b) Reasons for the default

Inability to generate sufficient cashflow due to low volume of operations following limited financial facility from banks.

c) Measures by IRMGB to address the default in payment

Measures taken to address the default are as follows:-

1) To dispose the chemical tank farm (“The Proposed Disposal”). The Proposed Disposal has no effect on the current operation of the IRMSB. The Proposed Disposal would be used to par down the Groups borrowings. The Company envisages that IRMSB will lease back one of the two (2) tank farms for the use of the Company's resins plant.
2) To renegotiate with banks to restructure the existing banking facilities. The Company has started negotiation with the Banks on 20 December 2012 and official proposal for repayment scheme was submitted to the Banks on 15 March 2013 for their consideration and approval.
3) To initiate programmes for a recapitalisation of the Group and other assets disposal.


d) Legal implications of the default including the extent of the listed issuer’s liability in respect of the obligations incurred under the agreements for the indebtedness

The extent of the liability of the Company is limited to the corporate guarantees provided in all the facilities amounting to RM56,000,000.

e) The business, financial and operational impact of the default

1) Lower volume of production and as a result, lower profitability and temporary cease of operation.
2) A major operational restructuring / retrenchment is on-going to reduce overheads.

f) In the event the default is in respect of secured loan stocks or bonds, the lines of action available to the guarantors or security holders against the listed issuer

Not Applicable

g) in the event the default is in respect of payments under a debenture, to specify whether the Default will empower the debenture holder to appoint a receiver or receiver and manager

Yes.

h) where the default is in respect of a subsidiary or associated company, a confirmation as to whether the subsidiary or associated company is a major subsidiary or major associated company, as the case may be;

IRMSB is a wholly-owned and a major subsidiary of the Company.

i) where the Default is in respect of a listed issuer, major subsidiary or major associated company, as the case may be -
(i) a statement as to whether the listed issuer is solvent ("Solvency Declaration"). For this purpose, a listed issuer is regarded as "solvent" if the majority directors have formed the opinion that the listed issuer will be able to pay all its debts as and when they fall due within the period of 12 months from the date of the announcement; and
(ii) if the listed issuer is solvent, a statement that the listed issuer undertakes to provide to the Exchange, the Solvency Declaration duly executed by its board of directors within 3 market days from the announcement date

The Company is procuring the solvency declaration from the board of the directors and will provide the same to Bursa Malaysia Securities Berhad by 2 September 2013.

This announcement is dated 28 August 2013.


TGOFFS - Quarterly rpt on consolidated results for the financial period ended 30/6/2013

Announcement Type: Financial Results
Company NameTANJUNG OFFSHORE BERHAD  
Stock Name TGOFFS  
Date Announced28 Aug 2013  
CategoryFinancial Results
Reference NoCA-130828-B0688

Financial Year End31/12/2013
Quarter2
Quarterly report for the financial period ended30/06/2013
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/06/2013
30/06/2012
30/06/2013
30/06/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
81,813
64,351
171,833
130,698
2Profit/(loss) before tax
6,210
-11,333
11,077
-12,311
3Profit/(loss) for the period
6,664
-4,739
9,903
1,420
4Profit/(loss) attributable to ordinary equity holders of the parent
5,728
-6,050
8,362
-614
5Basic earnings/(loss) per share (Subunit)
1.96
-2.08
2.87
-0.21
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.5600
0.5300
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


TGOFFS - Change in Audit Committee

Announcement Type: Change in Audit Committee
Company NameTANJUNG OFFSHORE BERHAD  
Stock Name TGOFFS  
Date Announced28 Aug 2013  
CategoryChange in Audit Committee
Reference NoCA-130828-56226

Date of change28/08/2013
NameEdwanee Cheah bin Abdullah
Age63
NationalityMalaysian
Type of changeCessation of Office
DesignationMember of Audit Committee
DirectorateIndependent & Non Executive
Qualifications 
Working experience and occupation  
Directorship of public companies (if any) 
Family relationship with any director and/or major shareholder of the listed issuer 
Any conflict of interests that he/she has with the listed issuer 
Details of any interest in the securities of the listed issuer or its subsidiaries 
Composition of Audit Committee (Name and Directorate of members after change)1. Dato' Ab Wahab bin Haji Ibrahim, Independent & Non-Executive Director.(Chairman)
2. Mr. George William Warren Jr, Independent & Non-Executive Director.
3. Datuk Seri Syed Ali bin Tan Sri Syed Abbas Alhabshee, Independent & Non-Executive Director.


TGOFFS - Change in Boardroom

Announcement Type: Change in Boardroom
Company NameTANJUNG OFFSHORE BERHAD  
Stock Name TGOFFS  
Date Announced28 Aug 2013  
CategoryChange in Boardroom
Reference NoCA-130828-55434

Date of change28/08/2013
NameEdwanee Cheah bin Abdullah
Age63
NationalityMalaysian
DesignationDirector
DirectorateIndependent & Non Executive
Type of changeResignation
ReasonCommitments on other businesses and frequent travelling overseas.
Details of any disagreement that he/she has with the Board of DirectorsNo
Whether there are any matters that need to be brought to the attention of the shareholdersNo
Qualifications 
Working experience and occupation  
Directorship of public companies (if any) 
Family relationship with any director and/or major shareholder of the listed issuer 
Any conflict of interests that he/she has with the listed issuer 
Details of any interest in the securities of the listed issuer or its subsidiaries 


FAVCO - Changes in Director's Interest (S135) - Lim Teik Hin

Announcement Type: Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Company NameFAVELLE FAVCO BERHAD  
Stock Name FAVCO  
Date Announced28 Aug 2013  
CategoryChanges in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Reference NoCC-130828-E6FE1

Information Compiled By KLSE

Particulars of Director

NameLim Teik Hin
Address32 Jalan USJ 9/3A
47620 Subang Jaya
Selangor Darul Ehsan
Descriptions(Class & nominal value)Ordinary shares of RM0.50 each

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted (RM)
Disposed
28/08/2013
20,000
2.370 
Disposed
28/08/2013
30,000
2.380 

Circumstances by reason of which change has occurredDisposal of shares in the open market
Nature of interestDirect Interest
Consideration (if any)RM118,800 

Total no of securities after change

Direct (units)
Direct (%)
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Date of notice28/08/2013

Remarks :
This announcement also serves as a notification pursuant to Paragraph 14.09(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

The above disposal of 50,000 shares represents 0.02% of the issued and paid-up capital of the Company.


FAVCO - Changes in Director's Interest (S135) - Lim Teik Hin

Announcement Type: Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Company NameFAVELLE FAVCO BERHAD  
Stock Name FAVCO  
Date Announced28 Aug 2013  
CategoryChanges in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Reference NoCC-130828-30497

Information Compiled By KLSE

Particulars of Director

NameLim Teik Hin
Address32 Jalan USJ 9/3A
47620 Subang Jaya
Selangor Darul Ehsan
Descriptions(Class & nominal value)Ordinary shares of RM0.50 each

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted (RM)
Disposed
27/08/2013
20,000
2.500 
Disposed
27/08/2013
30,000
2.560 

Circumstances by reason of which change has occurredDisposal of shares in the open market
Nature of interestDirect Interest
Consideration (if any)RM126,800 

Total no of securities after change

Direct (units)50,000 
Direct (%)0.02 
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Date of notice28/08/2013

Remarks :
This announcement also serves as a notification pursuant to Paragraph 14.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

The above disposal of 50,000 shares represents 0.02% of the issued and paid-up capital of the Company.


DUFU - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD

Announcement Type: General Announcement
Company NameDUFU TECHNOLOGY CORP. BERHAD  
Stock Name DUFU  
Date Announced28 Aug 2013  
CategoryGeneral Announcement
Reference NoCA-130828-28944

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS OUTSIDE CLOSED PERIOD
DescriptionNotification under Chapter 14 of the Bursa Securities Main Market Listing Requirements on Dealings in Securities

Pursuant to Chapter 14 of Bursa Securities Main Market Listing Requirements on Dealings in Securities, this is to notify that we have received the undermentioned notification(s) from the following Director(s)/Principal Officer(s) of Dufu Technology Corp. Berhad (DUFU) in relation to his/her dealings in DUFU's securities outside closed period, pursuant to subscription of Rights Issue Shares of DUFU as follow:-

Name of Director : Wu, Mao-Yuan

Date of Notification: August 28, 2013

Description of Securities

Date Transacted

Acquired/
Exercised

Disposed/
Exercised

Price per unit
(RM)

% of Securities Acquired/Disposed*

Ordinary Shares of RM0.50 each

28/08/2013

-


1,500,000

(Off Market Deal)

0.20

0.85

 

Name of Principal Officer : Chong Kok

Date of Notification: August 28, 2013

Description of Securities

Date Transacted

Acquired/
Exercised

Disposed/
Exercised

Price per unit
(RM)

% of Securities Acquired/Disposed*

Ordinary Shares of RM0.50 each

28/08/2013

500,000

(Off Market Deal)

-


0.20

0.28

 * Based on the total issued and paid up capital of RM87,735,185/- divided into 175,470,370 Ordinary Shares of RM0.50 each

We received the notice on August 28, 2013



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