PETONE - WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
| Company Name | PETROL ONE RESOURCES BERHAD |
| Stock Name | PETONE |
| Date Announced | 4 Dec 2012 |
| Category | General Announcement |
| Reference No | CS-121204-BFC6D |
| Type | Announcement | ||||||||||||||||||||||||||||||
| Subject | WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR | ||||||||||||||||||||||||||||||
| Description | PETROL ONE RESOURCES BERHAD (“PETONE” OR “THE COMPANY”) - Appointment of Receiver and Manager of One Petroleum (L) Ltd (“OPLL”), a wholly-owned subsidiary of Arus Dermaga Sdn Bhd (“ADSB”), which in turn is a wholly-owned subsidiary of PETONE | ||||||||||||||||||||||||||||||
Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the announcement dated 28 November 2012 in relation to the appointment of Receiver and Manager of OPLL. Reference is made to the announcement dated 28 November 2012 (“Announcement”). The Board of Directors of PETONE wishes to inform that to the best of their knowledge, the details of the Charged Assets in reference to item 7 in the Announcement are as follows:
The Net Book Value of the Charged Assets based on the unaudited financial results of OPLL as at 30 September 2012 and the audited financial results of OPLL as at 30 June 2012 are USD27.156 million and USD28.306 million respectively. This announcement is dated 4 December 2012. | |||||||||||||||||||||||||||||||
MAHSING - MATERIAL LITIGATION
| Company Name | MAH SING GROUP BERHAD |
| Stock Name | MAHSING |
| Date Announced | 4 Dec 2012 |
| Category | General Announcement |
| Reference No | MS-121204-31890 |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | MAH SING GROUP BERHAD (“MAH SING” OR “COMPANY”) KUALA LUMPUR HIGH COURT OF MALAYA CIVIL SUIT NO.: 22NCVC-1228-12/2011 GRAND PAVILION DEVELOPMENT SDN BHD (A WHOLLY OWNED SUBSIDIARY OF MAH SING) (“PLAINTIFF”) AGAINST ASIE SDN BHD AND USAHA NUSANTARA SDN BHD (COLLECTIVELY AS “DEFENDANTS”) |
Further to our announcements dated 2 August 2011, 2 November 2011, 2 December 2011, 6 December 2011, 13 December 2011, 19 December 2011, 27 December 2011, 29 December 2011, 30 January 2012, 28 May 2012, 27 July 2012, 20 September 2012, 10 October 2012, 7 November 2012 and 16 November 2012, the Company wishes to announce that the Plaintiff has on 4 December 2012 decided not to appeal against the High Court’s decision dated 16 November 2012 which dismissed the Plaintiff’s claim with costs. The parties has thereafter agreed to the sum of RM50,000 as costs to be paid by the Plaintiff to the Defendants. Accordingly, the caveat lodged against the land concerned will be withdrawn and the deposit paid pursuant to the Joint Venture Agreement dated 2 August 2012 entered into between the parties amounting to RM6,396,000 together with all interests accrued thereon will be refunded to the Plaintiff. The above litigation will not have any material adverse impact on operational, net assets, net gearing and earnings of the Group for the financial year ending 31 December 2012. This announcement is dated 4 December 2012. � � � � � � � | |
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