TEXCHEM - General Announcement
Announcement Type: General Announcement
Company Name: TEXCHEM RESOURCES BERHAD
Stock Name: TEXCHEM
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: ANNOUNCEMENT ON THE PROPOSED VOLUNTARY DELISTING OF TEXCHEM-PACK HOLDINGS (S) LTD., AN APPROXIMATELY 70.48%-OWNED SUBSIDIARY OF THE COMPANY ("PROPOSED DELISTING")
Contents: We refer to the Company's announcement dated 8 February 2010 on the above subject matter ("Announcement").
The Board of Directors of Texchem Resources Bhd. ("TRB") wishes to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has pursuant to its letter dated 27 May 2010 addressed to Texchem-Pack Holdings (S) Ltd. ("Texchem-Pack")'s solicitor informed that in light of the independent financial advisor's opinion that the financial terms of the Exit Offer (as defined in the Announcement), on balance, are not reasonable, it is unable to review and clear the draft circular to shareholders of Texchem-Pack in relation to the Proposed Delisting as it considers that the Proposed Delisting in its present form does not meet with the requirement of Rule 1309(1)of the SGX-ST Listing Manual, which requires that a reasonable exit alternative be offered to the shareholders of Texchem-Pack and holders of any other classes of listed securities to be delisted.
TRB is considering the next course of action and will inform Texchem-Pack in due course. It is possible that TRB may revise or withdraw the Exit Offer completely. TRB will make the necessary announcement when the decision is made.
A copy of the announcement made by Texchem-Pack to the SGX-ST in relation to the above subject matter on even date is attached below.
Attachments: txphs-ann 010610.pdf
Company Name: TEXCHEM RESOURCES BERHAD
Stock Name: TEXCHEM
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: ANNOUNCEMENT ON THE PROPOSED VOLUNTARY DELISTING OF TEXCHEM-PACK HOLDINGS (S) LTD., AN APPROXIMATELY 70.48%-OWNED SUBSIDIARY OF THE COMPANY ("PROPOSED DELISTING")
Contents: We refer to the Company's announcement dated 8 February 2010 on the above subject matter ("Announcement").
The Board of Directors of Texchem Resources Bhd. ("TRB") wishes to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has pursuant to its letter dated 27 May 2010 addressed to Texchem-Pack Holdings (S) Ltd. ("Texchem-Pack")'s solicitor informed that in light of the independent financial advisor's opinion that the financial terms of the Exit Offer (as defined in the Announcement), on balance, are not reasonable, it is unable to review and clear the draft circular to shareholders of Texchem-Pack in relation to the Proposed Delisting as it considers that the Proposed Delisting in its present form does not meet with the requirement of Rule 1309(1)of the SGX-ST Listing Manual, which requires that a reasonable exit alternative be offered to the shareholders of Texchem-Pack and holders of any other classes of listed securities to be delisted.
TRB is considering the next course of action and will inform Texchem-Pack in due course. It is possible that TRB may revise or withdraw the Exit Offer completely. TRB will make the necessary announcement when the decision is made.
A copy of the announcement made by Texchem-Pack to the SGX-ST in relation to the above subject matter on even date is attached below.
Attachments: txphs-ann 010610.pdf
SAAG - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: N/A
Company Name: SAAG CONSOLIDATED (M) BHD
Stock Name: SAAG
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: SAAG Consolidated (M) Bhd ("SAAG" or "the Company")
- Notice of the 27th Annual General Meeting ("AGM")
Contents: The Board of Directors of SAAG is pleased to announce that the AGM of the Company will be held at Ballroom 1, Main Wing, Tropicana Golf and Country Resort, Jalan Kelab Tropicana, 47410 Petaling Jaya, Selangor Darul Ehsan, on Thursday, 24 June 2010 at 11.00 a.m.
Please refer to the attached file for the Notice of the AGM.
The Notice of AGM of the Company will be advertised in The Star on 2 June 2010.
This announcement is dated 1 June 2010.
Attachments: SAAG - Notice of 27th AGM.pdf
Submitting Merchant Bank: N/A
Company Name: SAAG CONSOLIDATED (M) BHD
Stock Name: SAAG
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: SAAG Consolidated (M) Bhd ("SAAG" or "the Company")
- Notice of the 27th Annual General Meeting ("AGM")
Contents: The Board of Directors of SAAG is pleased to announce that the AGM of the Company will be held at Ballroom 1, Main Wing, Tropicana Golf and Country Resort, Jalan Kelab Tropicana, 47410 Petaling Jaya, Selangor Darul Ehsan, on Thursday, 24 June 2010 at 11.00 a.m.
Please refer to the attached file for the Notice of the AGM.
The Notice of AGM of the Company will be advertised in The Star on 2 June 2010.
This announcement is dated 1 June 2010.
Attachments: SAAG - Notice of 27th AGM.pdf
MAXBIZ - General Announcement
Announcement Type: General Announcement
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- Monthly Status Announcement on Default in Payment Pursuant to Practice Note 1
Contents: We act for and on behalf of MAXBIZ.
The Board of Directors of MAXBIZ wishes to announce the status of the default in payment in relation to the following:-
(a) The redemption of 50% of the nominal amount of the RM3.0 million 2 years 5% Redeemable Unsecured Loan Stocks (RULS) from the RULS holders:-
MAXBIZ has lodged a police report with the Commercial Crime Department and informed the Securities Commission with regard to the accounts receivable of RM5.7 million upon which the RULS was issued, which was found to be fraudulent.
The Board of Directors of MAXBIZ has requested the relevant authorities to investigate the matter. They are in contact with the Securities Commission for guidance regarding the fraud. Both the Securities Commission and the police have already been informed and investigations are under way.
(b) The repayment of arrears of the Term Loan facility of RM5,000,000.00 granted by CIMB Bank Berhad (Formerly known as Bumiputra-Commerce Bank Berhad) (CIMB) to M.K.K. Industries Sdn. Bhd. (MKK), a wholly-owned subsidiary of the Company, whereby the amount owing as at 28 February 2007 was RM1,720,740.80.
The suit between CIMB and MKK is still on-going.
(c) The demand of the sum of RM23,070,388.38 (including principal sum of RM22,615,598.00) as at 8 October 2006 with interest on RM22,615,598.00 at the rate of 2% per annum from 9 October 2006 to 6 October 2009 and an additional late payment interest of 1% per annum on all overdue sums from 9 October 2006 to date of full payment under the Trust Deed dated 16 July 2004 (constituting RM22,615,598.00 nominal amount of 5 years 2% Redeemable Convertible Secured Loan Stock 2004/2009) (RCSLS) between MAXBIZ and Pacific Trustees Berhad (PTB), who is the Trustee for the Holders of the said RCSLS:-
PTB has filed and obtained a summary judgement from the Kuala Lumpur High Court in respect of Suit No. Dl-22-647-2007 against MAXBIZ. MAXBIZ has immediately filed an appeal against the decision.
The police is still investigating the missing machinery and equipment which forms a substantial portion of the collateral for the RCSLS and the missing documents, books and records pertaining to MAXBIZ, MKK and Mayford Garments Sdn. Bhd. (MGSB) for the years prior to 2008.
The Board of Directors of MAXBIZ is in consultation with the legal advisors on the next course of action.
A Sale and Purchase Agreement was signed on 10 February 2010 between MAXBIZ and JPC PROPERTY MANAGEMENT SDN BHD (Company No. 702242-T), for the sale of two properties for Ringgit Malaysia Twenty Two Million Six Hundred And Fifty Thousand (RM22,650,000.00) only. The two properties are:
(i) HS(D) 30578, PT 4943 Mukim Bachang, Daerah Melaka Tengah, Negeri Melaka measuring approximately 7,4045 hektar (PT 4943); and
(ii) HS(M) 359, Plot No. 60 Mukim Bukit Katil, Daerah Melaka Tengah, Negeri Melaka measuring approximately 10,315 square metres (Plot No. 60)
The proceeds of the sale will be utilised to satisfy 100% of the RCSLS.
MAXBIZ has appointed MIMB Investment Bank Berhad of 21st Floor, Menara EON Bank, 288 Jalan Raja Laut, 50350 Kuala Lumpur as the Company's Principal Adviser to assist the Company in the Proposed Balance Sheet Reconstruction, comprising a Capital Reduction exercise.
PTB obtained a Proclamation of Sale by Public Auction of the land held under Plot No. 60 at the Land Office on 26 March 2010. The auction sale of the land was cancelled due to there being no bidders.
The Board of Directors of MAXBIZ wishes to announce that it has appointed Ferrier Hodgson MH Sdn Bhd as Investigation Advisor on 24 February 2010 for the following matters:
1. Issuance of RM3.0 Million RULS and RM22.616 Million RCSLS;
2. Financial Irregularity on MKK;
3. MGSB; and
4. Any other Irregularities and Anomalies.
The first part of report was presented to the Audit Committee and Board of Directors on 28 April 2010. As announced to Bursa Malaysia Securities Berhad (Bursa Securities) on 30 April 2010, the contents of the report from Ferrier Hodgson MH Sdn Bhd indicates that there is fraud, deception and misrepresentation from the time of issuance of the RCSLS and RULS.
Investors and the Scheme Creditors were not informed on a number of issues that were detrimental. This report is the first of at least 4 volumes.
The Board of Directors of MAXBIZ proposed to change the Trustee for the Holders of the RCSLS, pending consent from the financial institution creditors and non-financial institution creditors.
The Board of Directors of MAXBIZ had submitted a Declaration of Solvency to Bursa Securities on 7 April 2010.
This announcement is dated 1June 2010.
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- Monthly Status Announcement on Default in Payment Pursuant to Practice Note 1
Contents: We act for and on behalf of MAXBIZ.
The Board of Directors of MAXBIZ wishes to announce the status of the default in payment in relation to the following:-
(a) The redemption of 50% of the nominal amount of the RM3.0 million 2 years 5% Redeemable Unsecured Loan Stocks (RULS) from the RULS holders:-
MAXBIZ has lodged a police report with the Commercial Crime Department and informed the Securities Commission with regard to the accounts receivable of RM5.7 million upon which the RULS was issued, which was found to be fraudulent.
The Board of Directors of MAXBIZ has requested the relevant authorities to investigate the matter. They are in contact with the Securities Commission for guidance regarding the fraud. Both the Securities Commission and the police have already been informed and investigations are under way.
(b) The repayment of arrears of the Term Loan facility of RM5,000,000.00 granted by CIMB Bank Berhad (Formerly known as Bumiputra-Commerce Bank Berhad) (CIMB) to M.K.K. Industries Sdn. Bhd. (MKK), a wholly-owned subsidiary of the Company, whereby the amount owing as at 28 February 2007 was RM1,720,740.80.
The suit between CIMB and MKK is still on-going.
(c) The demand of the sum of RM23,070,388.38 (including principal sum of RM22,615,598.00) as at 8 October 2006 with interest on RM22,615,598.00 at the rate of 2% per annum from 9 October 2006 to 6 October 2009 and an additional late payment interest of 1% per annum on all overdue sums from 9 October 2006 to date of full payment under the Trust Deed dated 16 July 2004 (constituting RM22,615,598.00 nominal amount of 5 years 2% Redeemable Convertible Secured Loan Stock 2004/2009) (RCSLS) between MAXBIZ and Pacific Trustees Berhad (PTB), who is the Trustee for the Holders of the said RCSLS:-
PTB has filed and obtained a summary judgement from the Kuala Lumpur High Court in respect of Suit No. Dl-22-647-2007 against MAXBIZ. MAXBIZ has immediately filed an appeal against the decision.
The police is still investigating the missing machinery and equipment which forms a substantial portion of the collateral for the RCSLS and the missing documents, books and records pertaining to MAXBIZ, MKK and Mayford Garments Sdn. Bhd. (MGSB) for the years prior to 2008.
The Board of Directors of MAXBIZ is in consultation with the legal advisors on the next course of action.
A Sale and Purchase Agreement was signed on 10 February 2010 between MAXBIZ and JPC PROPERTY MANAGEMENT SDN BHD (Company No. 702242-T), for the sale of two properties for Ringgit Malaysia Twenty Two Million Six Hundred And Fifty Thousand (RM22,650,000.00) only. The two properties are:
(i) HS(D) 30578, PT 4943 Mukim Bachang, Daerah Melaka Tengah, Negeri Melaka measuring approximately 7,4045 hektar (PT 4943); and
(ii) HS(M) 359, Plot No. 60 Mukim Bukit Katil, Daerah Melaka Tengah, Negeri Melaka measuring approximately 10,315 square metres (Plot No. 60)
The proceeds of the sale will be utilised to satisfy 100% of the RCSLS.
MAXBIZ has appointed MIMB Investment Bank Berhad of 21st Floor, Menara EON Bank, 288 Jalan Raja Laut, 50350 Kuala Lumpur as the Company's Principal Adviser to assist the Company in the Proposed Balance Sheet Reconstruction, comprising a Capital Reduction exercise.
PTB obtained a Proclamation of Sale by Public Auction of the land held under Plot No. 60 at the Land Office on 26 March 2010. The auction sale of the land was cancelled due to there being no bidders.
The Board of Directors of MAXBIZ wishes to announce that it has appointed Ferrier Hodgson MH Sdn Bhd as Investigation Advisor on 24 February 2010 for the following matters:
1. Issuance of RM3.0 Million RULS and RM22.616 Million RCSLS;
2. Financial Irregularity on MKK;
3. MGSB; and
4. Any other Irregularities and Anomalies.
The first part of report was presented to the Audit Committee and Board of Directors on 28 April 2010. As announced to Bursa Malaysia Securities Berhad (Bursa Securities) on 30 April 2010, the contents of the report from Ferrier Hodgson MH Sdn Bhd indicates that there is fraud, deception and misrepresentation from the time of issuance of the RCSLS and RULS.
Investors and the Scheme Creditors were not informed on a number of issues that were detrimental. This report is the first of at least 4 volumes.
The Board of Directors of MAXBIZ proposed to change the Trustee for the Holders of the RCSLS, pending consent from the financial institution creditors and non-financial institution creditors.
The Board of Directors of MAXBIZ had submitted a Declaration of Solvency to Bursa Securities on 7 April 2010.
This announcement is dated 1June 2010.
FARMBES - Farm's Best Berhad ("FBB" or "the Company") Notice of Sixteenth Annual General Meeting
Announcement Type: General Announcement
Submitting Merchant Bank: -
Company Name: FARM'S BEST BERHAD
Stock Name: FARMBES
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: Farm's Best Berhad ("FBB" or "the Company")
Notice of Sixteenth Annual General Meeting
Contents: The Board of Directors of FBB is pleased to announce that the Sixteenth Annual General Meeting ("16th AGM") of the Company will be held at Bilik Bunga Teratai, 7th Floor, Renaissance Melaka Hotel, Jalan Bendahara, 75100 Melaka on Thursday, 24 June 2010 at 11.00 a.m. to approve the resolutions as stated in the Notice of 16th AGM.
The full text of the Notice of 16th AGM is attached herewith for your attention.
Attachments: Notice of 16th AGM.pdf
Submitting Merchant Bank: -
Company Name: FARM'S BEST BERHAD
Stock Name: FARMBES
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: Farm's Best Berhad ("FBB" or "the Company")
Notice of Sixteenth Annual General Meeting
Contents: The Board of Directors of FBB is pleased to announce that the Sixteenth Annual General Meeting ("16th AGM") of the Company will be held at Bilik Bunga Teratai, 7th Floor, Renaissance Melaka Hotel, Jalan Bendahara, 75100 Melaka on Thursday, 24 June 2010 at 11.00 a.m. to approve the resolutions as stated in the Notice of 16th AGM.
The full text of the Notice of 16th AGM is attached herewith for your attention.
Attachments: Notice of 16th AGM.pdf
YOKO - Proposed Change of Company Name
Announcement Type: Proposed Change of Company Name
Company Name: TAI KWONG YOKOHAMA BERHAD
Stock Name: YOKO
Date Announced: 01/06/2010
Announcement Detail:
Proposed company name: YOKOHAMA INDUSTRIES BERHAD
Remarks: The Board of Directors of Tai Kwong Yokohama Berhad ("the Company") wishes to announce that the Company is proposing to change its name from Tai Kwong Yokohama Berhad to Yokohama Industries Berhad ("Proposed Change of Name").
The Company has received approval from the Companies Commission of Malaysia (CCM) for the Proposed Change of Name.
The Proposed Change of Name is subject to the approval of the shareholders of the Company at an Extraordinary General Meeting to be convened at a date to be announced later. The Proposed Change of Name will be effective from the date of issuance of the Certificate of Incorporation on Change of Name by the CCM.
Company Name: TAI KWONG YOKOHAMA BERHAD
Stock Name: YOKO
Date Announced: 01/06/2010
Announcement Detail:
Proposed company name: YOKOHAMA INDUSTRIES BERHAD
Remarks: The Board of Directors of Tai Kwong Yokohama Berhad ("the Company") wishes to announce that the Company is proposing to change its name from Tai Kwong Yokohama Berhad to Yokohama Industries Berhad ("Proposed Change of Name").
The Company has received approval from the Companies Commission of Malaysia (CCM) for the Proposed Change of Name.
The Proposed Change of Name is subject to the approval of the shareholders of the Company at an Extraordinary General Meeting to be convened at a date to be announced later. The Proposed Change of Name will be effective from the date of issuance of the Certificate of Incorporation on Change of Name by the CCM.
YOKO - General Announcement
Announcement Type: General Announcement
Company Name: TAI KWONG YOKOHAMA BERHAD
Stock Name: YOKO
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: TAI KWONG YOKOHAMA BERHAD ("YOKO" OR "THE COMPANY")
1. PROPOSED SHARE SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) ORDINARY SHARE OF RM1.00 EACH IN YOKO INTO TWO (2) NEW ORDINARY SHARES OF RM0.50 EACH ("PROPOSED SHARE SPLIT"); AND
2. PROPOSED AMENDMENT TO THE MEMORANDUM OF ASSOCIATION OF THE COMPANY TO FACILITATE THE IMPLEMENTATION OF THE PROPOSED SHARE SPLIT
(COLLECTIVELY REFERRED TO AS "PROPOSALS")
Contents: The Board of Directors of Tai Kwong Yokohama Berhad wishes to announce that the Company proposes to undertake the following:-
1. Proposed share split involving the subdivision of every one (1) ordinary share of RM1.00 each in Yoko into two (2) new ordinary shares of RM0.50 each ("Proposed Share Split"); and
2. Proposed amendment to the Memorandum of Association of the Company to facilitate the implementation of the Proposed Share Split ("Proposed Amendment").
(collectively referred to as the "Proposals")
The Proposals are not conditional upon any other corporate exercise by Yoko. Accordingly, the trading in the shares of Yoko shall not be suspended.
Please refer to the attachment for further details.
This announcement is dated 1 June 2010.
Attachments: Proposed Subdivision of Shares.pdf
Company Name: TAI KWONG YOKOHAMA BERHAD
Stock Name: YOKO
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: TAI KWONG YOKOHAMA BERHAD ("YOKO" OR "THE COMPANY")
1. PROPOSED SHARE SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) ORDINARY SHARE OF RM1.00 EACH IN YOKO INTO TWO (2) NEW ORDINARY SHARES OF RM0.50 EACH ("PROPOSED SHARE SPLIT"); AND
2. PROPOSED AMENDMENT TO THE MEMORANDUM OF ASSOCIATION OF THE COMPANY TO FACILITATE THE IMPLEMENTATION OF THE PROPOSED SHARE SPLIT
(COLLECTIVELY REFERRED TO AS "PROPOSALS")
Contents: The Board of Directors of Tai Kwong Yokohama Berhad wishes to announce that the Company proposes to undertake the following:-
1. Proposed share split involving the subdivision of every one (1) ordinary share of RM1.00 each in Yoko into two (2) new ordinary shares of RM0.50 each ("Proposed Share Split"); and
2. Proposed amendment to the Memorandum of Association of the Company to facilitate the implementation of the Proposed Share Split ("Proposed Amendment").
(collectively referred to as the "Proposals")
The Proposals are not conditional upon any other corporate exercise by Yoko. Accordingly, the trading in the shares of Yoko shall not be suspended.
Please refer to the attachment for further details.
This announcement is dated 1 June 2010.
Attachments: Proposed Subdivision of Shares.pdf
PRESTAR - PRESTAR - NOTICE OF BOOK CLOSURE
Announcement Type: Listing Circular
Company Name: PRESTAR RESOURCES BERHAD
Stock Name: PRESTAR
Date Announced: 01/06/2010
Announcement Detail:
Subject: PRESTAR - NOTICE OF BOOK CLOSURE
Contents: Final Tax Exempt Dividend of 3.0% (1.5 sen per share).
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ]
as from : [ 23 July 2010 ]
2) The last date of lodgement : [ 27 July 2010 ]
3) Date Payable : [ 18 August 2010 ]
Remarks :- The final tax exempt dividend is subject to shareholders' approval at the forthcoming Annual General Meeting scheduled to be held on 22 June 2010.
Company Name: PRESTAR RESOURCES BERHAD
Stock Name: PRESTAR
Date Announced: 01/06/2010
Announcement Detail:
Subject: PRESTAR - NOTICE OF BOOK CLOSURE
Contents: Final Tax Exempt Dividend of 3.0% (1.5 sen per share).
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ]
as from : [ 23 July 2010 ]
2) The last date of lodgement : [ 27 July 2010 ]
3) Date Payable : [ 18 August 2010 ]
Remarks :- The final tax exempt dividend is subject to shareholders' approval at the forthcoming Annual General Meeting scheduled to be held on 22 June 2010.
GMUTUAL - Corporate Guarantee
Announcement Type: General Announcement
Company Name: GROMUTUAL BERHAD
Stock Name: GMUTUAL
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: Corporate Guarantee
Contents: The Board of Directors of Gromutual Berhad ('GMUTUAL') wishes to announce that a Corporate Guarantee of RM1,100,000.00 (Ringgit Malaysia : One Million And One Hundred Thousand Only) in favour of CIMB Bank Berhad ('CIMB') to guarantee CIMB for the Banking Facility granted to GMUTUAL's wholly-owned subsidiary, Simpang Maju Enterprises Sdn. Bhd., had been executed.
This Announcement is dated 1 June 2010.
Company Name: GROMUTUAL BERHAD
Stock Name: GMUTUAL
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: Corporate Guarantee
Contents: The Board of Directors of Gromutual Berhad ('GMUTUAL') wishes to announce that a Corporate Guarantee of RM1,100,000.00 (Ringgit Malaysia : One Million And One Hundred Thousand Only) in favour of CIMB Bank Berhad ('CIMB') to guarantee CIMB for the Banking Facility granted to GMUTUAL's wholly-owned subsidiary, Simpang Maju Enterprises Sdn. Bhd., had been executed.
This Announcement is dated 1 June 2010.
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