February 28, 2013

Company announcements: SCOMNET, OMEDIA, MTRONIC, GOCEAN, IDEAL, SOLUTN, MIKROMB, SRIDGE

SCOMNET - Quarterly rpt on consolidated results for the financial period ended 31/12/2012

Announcement Type: Financial Results
Company NameSUPERCOMNET TECHNOLOGIES BERHAD (ACE Market) 
Stock Name SCOMNET  
Date Announced28 Feb 2013  
CategoryFinancial Results
Reference NoCA-130228-31043

Financial Year End31/12/2012
Quarter4
Quarterly report for the financial period ended31/12/2012
The figureshave not been audited

Attachments

STB-Q4'12.pdf
500 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2012
31/12/2011
31/12/2012
31/12/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
9,174
8,222
31,627
34,556
2Profit/(loss) before tax
-417
-110
1,725
4,480
3Profit/(loss) for the period
-464
38
1,414
3,823
4Profit/(loss) attributable to ordinary equity holders of the parent
-464
38
1,414
3,823
5Basic earnings/(loss) per share (Subunit)
-0.19
0.02
0.58
1.57
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.50
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 ($$)
0.1500
0.1500
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


OMEDIA - Change in Boardroom (Amended Announcement)

Announcement Type: Change in Boardroom
Company NameORIENTED MEDIA GROUP BERHAD (ACE Market) 
Stock Name OMEDIA  
Date Announced28 Feb 2013  
CategoryChange in Boardroom
Reference NoCM-130228-67565

Date of change28/02/2013
NameNg Chee Kin
Age44
NationalityMalaysian
Type of changeAppointment
DesignationDirector
DirectorateIndependent & Non Executive
QualificationsCIMA: Finalist, LCCI: Diploma  
Working experience and occupation He is currently a financial consultant providing services for private entities and companies. He is also an Independent Non-Executive Director of Fast Track Solution Holdings Berhad. He started his career as Accounts Executive at Asagi Corporation Sdn Bhd from July 1991 to May 1994, from July 1994 to May 1995 he also worked as Accounts Executive at Federal Furniture (M) Sdn Bhd, from June 1995 to June 1997 he worked as Assistant Accountant/Accountant at Lovely Phoenix Sdn Bhd, from July 1997 to December 1998 he become Account Manager at Surebest Superstore (M) Sdn Bhd, from January 1999 to June 2000 he worked at NAC Corporation Sdn Bhd as Accounts Manager, he moved to Yuen Chun Industries Sdn Bhd on July 2000 whereby he worked as Assistant Finance & Admin Manager from July 2000 to December 2002 and promoted as Finance & Admin Manager from January 2003 to June 2004. He also worked at Everchem Corporation (M) Sdn Bhd as Accounts Manager from July 2004 to March 2007.  
Directorship of public companies (if any)Fast Track Solution Holdings Berhad - Independent Non-Executive Director  
Family relationship with any director and/or major shareholder of the listed issuerNil 
Any conflict of interests that he/she has with the listed issuerNil 
Details of any interest in the securities of the listed issuer or its subsidiariesNil 


MTRONIC - OTHERS METRONIC GLOBAL BERHAD (MGB) REVALUATION OF PROPERTY, PLANT AND EQUIPMENT

Announcement Type: General Announcement
Company NameMETRONIC GLOBAL BERHAD  
Stock Name MTRONIC  
Date Announced28 Feb 2013  
CategoryGeneral Announcement
Reference NoMG-130228-64064

TypeAnnouncement
SubjectOTHERS
DescriptionMETRONIC GLOBAL BERHAD (MGB)
REVALUATION OF PROPERTY, PLANT AND EQUIPMENT

The Board of Directors of Metronic Global Berhad ("MGB") wishes to announce on the incorporation of the revaluation of property, plant and equipment in the fourth quarter unaudited financial results for the financial year ended 31 December 2012.

Please refer to the attachment for the details of the announcement.

This announcement is dated 28 February 2013.












MTRONIC - OTHERS METRONIC GLOBAL BERHAD (“MGB” OR “COMPANY”) OUTSTANDING RELATED PARTY RECEIVABLE

Announcement Type: General Announcement
Company NameMETRONIC GLOBAL BERHAD  
Stock Name MTRONIC  
Date Announced28 Feb 2013  
CategoryGeneral Announcement
Reference NoMG-130228-66416

TypeAnnouncement
SubjectOTHERS
DescriptionMETRONIC GLOBAL BERHAD (“MGB” OR “COMPANY”)
OUTSTANDING RELATED PARTY RECEIVABLE

Further to our announcements made on even dates pertaining to the outstanding related party receivables of the Company, the Company wishes to announce the following:-

(i) Total outstanding from related party trade receivables as at 31 December 2012 are as follows:-.

Total Outstanding Receivables

Outstanding Related Party Receivables (Years) 

as at 31/12/2012

>1-3

 >3-5

 >5-10

 >10

RM'000

RM'000

RM'000

RM'000

RM'000

44,520

-

11,101

33,419

-

 

The amount has been fully provided for impairment in its quarterly financial reporting ended 31 December 2012.

 

(ii) Steps taken or proposed to be taken by the listed issuer to recover the related party receivables

 

The related party receivables have been regularly reviewed and discussed by the Audit Committee and the Board of Directors, and action plan had been formulated to recover the receivables that includes the followings:-

a) Actively meet and negotiate with related parties and JKR to pursue the outstanding receivables;

b) Contra the receivables against payables with the same related parties;

c) Obtained consent from the Main Contractor Related Party to proceed with the certification and collection directly from Ministry of Health (“MOH”), Ministry of Finance (“MOF”) and Jabatan Kerja Raya (“JKR”). The claim is pending certification by JKR before submitting to MOF for approval;

d) Obtained a Deed of Assignment from the Main Contractor Related Party to pursue the receivables directly from the Government of Malaysia;

e) Filed proof of debt to Jabatan Insolvensi Malaysia / the Liquidator; and

f) To pursue recovery through legal recourse.

 

(iii) Expected timeframe to fully recover the related party receivables as specified in item (i)

The Company is not able to determine the expected timeframe to fully recover the amount since the payment due from Main Contractor Related Party is subject to finalization of the claim certification by JKR and the subsequent disbursement of payment from the Ministry of Finance.

 

The Company will continue with its effort to recover the outstanding related party receivables.

This announcement is dated 28 February 2013.



MTRONIC - Quarterly rpt on consolidated results for the financial period ended 31/12/2012

Announcement Type: Financial Results
Company NameMETRONIC GLOBAL BERHAD  
Stock Name MTRONIC  
Date Announced28 Feb 2013  
CategoryFinancial Results
Reference NoMG-130228-66599

Financial Year End31/12/2012
Quarter4
Quarterly report for the financial period ended31/12/2012
The figureshave not been audited

Attachments

Q4 FS 31-12-12.pdf
411 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2012
31/12/2011
31/12/2012
31/12/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
11,489
14,599
46,613
56,634
2Profit/(loss) before tax
-5,439
-2,517
-25,461
-2,946
3Profit/(loss) for the period
-5,487
-3,605
-25,331
-4,164
4Profit/(loss) attributable to ordinary equity holders of the parent
-5,020
-3,605
-25,882
-5,061
5Basic earnings/(loss) per share (Subunit)
-0.79
-0.57
-4.08
-0.80
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 ($$)
0.0543
0.0744
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


GOCEAN - NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS):FUND RAISING

Announcement Type: General Announcement
Company NameGREEN OCEAN CORPORATION BERHAD (ACE Market) 
Stock Name GOCEAN  
Date Announced28 Feb 2013  
CategoryGeneral Announcement
Reference NoMI-130228-67467

TypeAnnouncement
SubjectNEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
DescriptionGREEN OCEAN CORPORATION BHD (“GREEN OCEAN” OR “COMPANY”)

PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF GREEN OCEAN

We refer to the announcements made in relation to the Proposed Private Placement dated 23 January 2013 and 5 February 2013 (“Announcements”). For consistency purposes, the abbreviations used in this announcement are the same as those previously defined in the Announcements unless otherwise defined herein.

On behalf of the Company, KIBB wishes to provide the following additional information in relation to the Proposed Private Placement:

1. Value creation of the Proposed Private Placement
      The fire incident on 6 November 2011 had adversely affected the Group’s financial performance for the financial year ended (“FYE”) 31 March 2012 and 6-months financial period ended (“FPE”) 30 September 2012 due to lower palm kernel oil production volume. Following the completion of the reconstruction and resumed operation of the palm kernel production lines on 19 November 2012, the Group is taking steps to further improve its financial condition and performance, through amongst others the following:
      • the Group is targeting to increase production at its palm kernel production lines to achieve greater economies of scale; and
      • the Group is also diversifying into higher margin products i.e. premium edible oil, NoveLin) which is expected to commence production in the second quarter of 2013 following the Manufacturing and Supply Services Agreement entered into between Ace Edible Oil Industries Sdn Bhd, a wholly-owned subsidiary company of Green Ocean, and Sime Darby Foods & Beverages Marketing Sdn Bhd (“SDFBM”) on 27 November 2012. For further details of the Manufacturing and Supply Services Agreement, please refer to the announcement dated 27 November 2012.
      The above plans are intended to be mainly funded via the proceeds to be raised from the Proposed Private Placement.
      By achieving greater economies of scale as well as diversifying into higher margin products, the abovementioned plans and thereby the Proposed Private Placement are expected to improve the Group’s financial performance and thus, increase the Group’s and its shareholders’ values.

2. Impact of the Proposed Private Placement on Green Ocean and its shareholders
      Whilst the Proposed Private Placement would dilute the Company’s shareholders’ shareholdings by up to 10%, its financial position would be strengthened and its NA per share would improve by up to approximately 33%. For further details of the impact of the Proposed Private Placement, please refer to the announcement dated 23 January 2013.
      In addition, the utilisation of the proceeds to be raised from the Proposed Private Placement for the abovementioned plans are expected to improve the Group’s financial performance and thus, increase the Group’s and its shareholders’ values.

3. Adequacy of the Proposed Private Placement in addressing the Company’s financial concerns
      The Proposed Private Placement will enable the Company to raise funds to facilitate the implementation of plans to achieve greater economies of scale as well as diversify into higher margin products as mentioned above, which are expected to improve the Group’s financial performance.
      The Board, after due consideration of the various fund raising options as well as the capital structure of the Company, is of the view that the Proposed Private Placement is the most appropriate avenue of raising funds for the abovementioned plans as it is more cost effective and does not incur interest cost as compared to bank borrowings. In addition, the Proposed Private Placement is also more cost effective and can be implemented more expeditiously as compared to other equity fund raising methods.

4. Steps and action which has been taken/will be taken to improve the financial condition of the Company
      The Group’s financial condition and performance has been improving, as can be seen in its lower LAT over the past 3 FYEs 31 March 2012 and the PAT for the 6-months FPE 30 September 2012. In addition to the proposed steps outlined above, the Group has also entered into long term contracts for raw materials for palm kernel production to minimise the risk of price volatility and is also in negotiations to enter into long term contracts with customers (i.e. oleochemical manufacturers) for the supply of palm kernel in order to secure fixed profit margins to further improve its financial condition and performance.
      The production and supply of NoveLin to SDFBM is also expected to improve the financial condition and performance of the Group as it is one of the promoted activities under the Palm Oil National Key Economic Areas (NKEAs) eight core entry point projects (EPP).

In addition to the above, the summary of the key financial information of the Group based on its audited consolidated financial statements for the past 3 FYEs 31 March 2012 and the unaudited 6-months FPE 30 September 2012, as provided by the Company, are set out in Attachment I.


This announcement is dated 28 February 2013.

Attachments

GREEN OCEAN - Attachment I.pdf
106 KB



IDEAL - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS

Announcement Type: General Announcement
Company NameIDEAL SUN CITY HOLDINGS BERHAD (ACE Market) 
Stock Name IDEAL  
Date Announced28 Feb 2013  
CategoryGeneral Announcement
Reference NoOS-130228-66810

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionIDEAL SUN CITY HOLDINGS BERHAD (“IDEAL” OR THE “COMPANY”)

PROPOSED DISPOSAL OF 2 PARCELS OF LAND HELD BY IDEAL PROPERTY CONCEPT SDN BHD (“IPCSB” OR “VENDOR”) UNDER LOT NOS. HS(D) 50239 AND HS(D) 50240 IN KULAIJAYA, JOHOR (“KULAIJAYA LAND”) TO DRILMACO SDN BHD (“DRILMACO” OR “PURCHASER”) FOR A TOTAL CASH CONSIDERATION OF RM4,906,315.20 (“ PROPOSED DISPOSAL”)

On behalf of the Board of Directors of IDEAL, M&A Securities Sdn Bhd wishes to announce that IPCSB, a wholly owned subsidiary of IDEAL and Drilmaco have entered into a sale and purchase agreement dated 28 February 2013 to dispose of two (2) parcels of land located within Taman Teknologi Johor, Senai, Johor for a total cash consideration of RM4,906,315.20.

Further details of the Proposed Disposal are set out in the attachment herein.

This announcement is dated 28 February 2012

Attachments

IDEAL - Proposed Disposal.pdf
307 KB



SOLUTN - Quarterly rpt on consolidated results for the financial period ended 31/12/2012

Announcement Type: Financial Results
Company NameSOLUTION ENGINEERING HOLDINGS BERHAD (ACE Market) 
Stock Name SOLUTN  
Date Announced28 Feb 2013  
CategoryFinancial Results
Reference NoSE-130228-62303

Financial Year End31/12/2012
Quarter4
Quarterly report for the financial period ended31/12/2012
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2012
31/12/2011
31/12/2012
31/12/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
2,545
2,414
7,861
11,274
2Profit/(loss) before tax
-1,750
4
-2,214
779
3Profit/(loss) for the period
-1,679
-193
-2,214
267
4Profit/(loss) attributable to ordinary equity holders of the parent
-1,574
-103
-2,118
394
5Basic earnings/(loss) per share (Subunit)
-0.93
-0.06
-1.25
0.23
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 ($$)
0.1191
0.1317
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


MIKROMB - Quarterly rpt on consolidated results for the financial period ended 31/12/2012

Announcement Type: Financial Results
Company NameMIKRO MSC BERHAD (ACE Market) 
Stock Name MIKROMB  
Date Announced28 Feb 2013  
CategoryFinancial Results
Reference NoCC-130226-35049

Financial Year End30/06/2013
Quarter2
Quarterly report for the financial period ended31/12/2012
The figureshave not been audited

Attachments

MikroMSC.pdf
600 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2012
31/12/2011
31/12/2012
31/12/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
6,998
6,854
14,081
13,593
2Profit/(loss) before tax
1,726
2,284
3,941
4,417
3Profit/(loss) for the period
1,504
1,880
3,108
3,328
4Profit/(loss) attributable to ordinary equity holders of the parent
1,501
1,880
3,100
3,328
5Basic earnings/(loss) per share (Subunit)
0.84
1.05
1.73
1.86
6Proposed/Declared dividend per share (Subunit)
1.00
0.50
1.00
0.50


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 ($$)
0.1515
0.1439
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


SRIDGE - Quarterly rpt on consolidated results for the financial period ended 31/12/2012

Announcement Type: Financial Results
Company NameSILVER RIDGE HOLDINGS BHD (ACE Market) 
Stock Name SRIDGE  
Date Announced28 Feb 2013  
CategoryFinancial Results
Reference NoCC-130228-65216

Financial Year End31/12/2012
Quarter4
Quarterly report for the financial period ended31/12/2012
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2012
31/12/2011
31/12/2012
31/12/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
14,008
10,822
41,690
40,174
2Profit/(loss) before tax
578
-5,034
78
3,056
3Profit/(loss) for the period
-615
-4,073
-2,081
1,552
4Profit/(loss) attributable to ordinary equity holders of the parent
-615
-4,073
-2,081
1,552
5Basic earnings/(loss) per share (Subunit)
-0.56
-4.07
-1.89
1.55
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 ($$)
0.2200
0.1800
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


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