PENERGY - OTHERS PETRA ENERGY BERHAD ("PENERGY" or "the Company") - ACQUISITION OF A SUBSIDIARY COMPANY
Company Name | PETRA ENERGY BERHAD |
Stock Name | PENERGY |
Date Announced | 28 Jun 2013 |
Category | General Announcement |
Reference No | CS-130628-EFD42 |
Type | Announcement |
Subject | OTHERS |
Description | PETRA ENERGY BERHAD ("PENERGY" or "the Company") - ACQUISITION OF A SUBSIDIARY COMPANY |
1. INTRODUCTION
PEV was incorporated in Malaysia on 18 June 2013 under the Companies Act 1965 as a private company limited by shares with an authorised share capital of RM400,000.00 divided into 400,000 Ordinary Shares of RM1.00 each and a paid-up share capital of RM2.00 divided into 2 Ordinary Shares of RM1.00 each. The nature of business of PEV is as an investment company.
This announcement is dated 28 June 2013. |
PENERGY - OTHERS PETRA ENERGY BERHAD ("PENERGY" or "the Company") - PROPOSED SHARE SUBSCRIPTION BY PE VENTURES SDN. BHD. ("PEV"), A WHOLLY-OWNED SUBSIDIARY OF PETRA ENERGY BERHAD, OF 312,245 NEW ORDINARY SHARES OF RM1.00 EACH IN BUMI SUBSEA SDN. BHD. (“BSSB”) (“SUBSCRIPTION SHARES”) AT A CONSIDERATION OF APPROXIMATELY RM0.34 MILLION, REPRESENTING 51% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF BSSB (“PROPOSED SHARE SUBSCRIPTION”)
Company Name | PETRA ENERGY BERHAD |
Stock Name | PENERGY |
Date Announced | 28 Jun 2013 |
Category | General Announcement |
Reference No | CS-130628-F0E89 |
Type | Announcement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subject | OTHERS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description | PETRA ENERGY BERHAD ("PENERGY" or "the Company") - PROPOSED SHARE SUBSCRIPTION BY PE VENTURES SDN. BHD. ("PEV"), A WHOLLY-OWNED SUBSIDIARY OF PETRA ENERGY BERHAD, OF 312,245 NEW ORDINARY SHARES OF RM1.00 EACH IN BUMI SUBSEA SDN. BHD. (“BSSB”) (“SUBSCRIPTION SHARES”) AT A CONSIDERATION OF APPROXIMATELY RM0.34 MILLION, REPRESENTING 51% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF BSSB (“PROPOSED SHARE SUBSCRIPTION”) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1. INTRODUCTION
The Proposed Share Subscription involves the creation of a 51:40:9 shareholding structure amongst PEV, FKKK and RBAZ respectively as the shareholders of BSSB. Currently, RBAZ and FKK hold 60% and 40% respectively in BSSB. Upon completion of the Proposed Share Subscription, the shareholdings of the shareholders of BSSB are as follows:-
On 18 January 2011, BSSB had entered into an exclusive agency agreement with Bourbon Subsea Services (“Bourbon”) (“Exclusive Agency Agreement”), a company incorporated in France, whereby Bourbon had appointed BSSB as its exclusive agent for subsea and underwater services in Malaysia for a period of five (5) years until 17 January 2016. BSSB has a PETRONAS license for a period of three (3) years from 15 September 2011 to 14 September 2014 (“Petronas License”) to undertake certain underwater services primarily in the area of underwater inspection, maintenance and repair. BSSB also has accreditation from Lembaga Pembangunan Industri Pembinaan Malaysia/Construction Industry Development Board Malaysia (“LPIPM” or “CIDB”). As at 28 June 2013, the authorised share capital of BSSB is RM1,000,000 comprising 1,000,000 ordinary shares of RM1.00 each of which RM300,000 comprising 300,000 ordinary shares of RM1.00 each have been issued and credited as fully paid-up. The particulars of BSSB’s directors and substantial shareholders and their respective shareholdings in BSSB as at 28 June 2013 are as follows:-
A summary of BSSB’s audited financial statements for the financial year ended (“FYE”) 30 September 2010 to 2012 is as follows:-
BSSB incurred loss before tax and loss after tax amounting to approximately RM86,419 for FYE 2011 and RM25,026 mainly due to payment of salaries and EPF for the employment of four (4) staff as well as incidental charges incurred for the application of the Petronas License. 2.2 Salient terms of the SSA
2.2.3 Condition Precedents
(a) the notification by BSSB to Petroliam Nasional Berhad (“Petronas”) of the change in the shareholdings and directors of BSSB pursuant to the terms and conditions of the Petronas License; (b) the agreement, consent, approval and/or waiver from the lender(s) of BSSB (“Lenders”) for the change in the shareholdings and directors of BSSB pursuant to the terms and conditions of any financing documents entered into between BSSB and the Lenders; (c) the agreement, consent, approval and/or waiver from any other relevant authorities and/or parties for the change in the shareholdings and directors of BSSB pursuant to the terms and conditions of any licences, permits and/or certificates granted in favour of BSSB;
(e) the approval of the shareholders of BSSB pursuant to Section 132D of the Companies Act 1965, for the issuance and allotment of the Subscription Shares; and (f) the approvals of any other relevant parties and/or authorities, where necessary. 2.2.4 Completion Events
(ii) Payment of the Subscription Consideration by PEV to BSSB in the form of a banker’s draft.
(a) Three (3) Directors appointed by PEV; and (b) Two (2) Directors appointed collectively by FKKK and RBAZ.
(b) If and whenever a Deadlock occurs, the party who submits the matter to the general meeting of BSSB may serve notice in writing to the other party that the Deadlock shall be resolved by mutual agreement within a period of thirty (30) days from the service of such notice. (c) If the parties should be unable to reach mutual agreement within the prescribed period, then the Deadlock shall be referred to an arbitrator.
(b) It is agree that the balance of the annual net profits of BSSB shall be distributed to the parties in proportion to the shareholdings. (c) Payment of dividend shall be made by BSSB within thirty (30) days after the same is declared. 2.2.4 Termination
(b) Without limiting any right or remedy available to the parties, if any of the parties prior to the completion of the subscription of the Subscription Shares (“Completion”), breaches any of the terms and conditions of the SSA which (if capable of remedy) is not remedied within fourteen (14) days after being given notice by the other party (“Non-Defaulting Party”) to rectify such breach, the Non-Defaulting Party shall be entitled to terminate the SSA. Upon termination, the SSA shall cease to have any further force and effect save and except for any antecedent breach. (c) Prior to Completion, the SSA shall terminate upon the passing of an effective resolution to wind up BSSB or if a liquidator is otherwise appointed but without prejudice to any right the parties may have against the other arising prior to such termination. 2.3 Basis and justification for the Subscription Consideration
(b) the Exclusive Agency Agreement between BSSB and Bourbon; (c) BSSB’s audited net assets of approximately RM0.18 million for the FYE 30 September 2012; (d) the future prospects and earnings potential of BSSB; and (e) majority controlling stake to be held by PEV. 2.4 Information on FKKK, RBAZ and PEV (a) FKKK
(b) RBAZ
PEV is a wholly-owned subsidiary of PENERGY. The nature business of PEV is investment and management. As at 28 June 2013, the directors of PEV are Mohamad Zaidee Bin Abang Hipni and Grace Nuilan John Primus.
There are no liabilities, including contingent liabilities and guarantees, to be assumed by PEB and its subsidiaries’ (“PEB Group”) pursuant to the Proposed Share Subscription. Following the completion of the Proposed Share Subscription, BSSB will be a subsidiary of PENERGY which would allow PENERGY to benefit from the future prospects of the underwater inspection, maintenance and repair (“IMR”) segment of the oil and gas industry. This augurs well with PENERGY’s plan to expand its technical capabilities in order to become a fully integrated brownfield services provider for the upstream oil and gas industry. 4. PROSPECTS OF THE PROPOSED SHARE SUBSCRIPTION The Malaysian economy is expected to strengthen further and projected to grow at a faster rate of 4.5%-5.5% in 2013. Growth will be supported by improving exports and strong domestic demand on the assumption that global growth will pick up, especially during the second half of 2013. The growth projection is premised upon the expectation of an improvement in the resolution of the debt crisis in the Euro area and stronger growth momentum in the economics of Malaysia’s major trading partners. Domestic demand is expected to maintain its strong momentum drive by robust private investment and strong private consumption. Private sector activity will be supported by an accommodative monetary policy in an environment of low inflation coupled with a robust financial sector. Recovery in the external sector, particularly increasing external demand from regional economies and major trading partners will further provide the impetus for a private-led growth. The overall public expenditure is expected to increase, led by higher non-financial public enterprises’ capital investment which will further augment growth. Thus, nominal gross national income per capita is expected to increase 6.4% to RM32,947 (2012: 4.4%; RM30,956). In terms of purchasing power parity, per capita income is expected to grow 4.4% to reach USD16,368 (2012: USD15,676). Premised on the above, the Board notes that the outlook and prospects of the oil and gas industry are expected to be positive in the long term. Thus, the Board is of the view that the prospects of BSSB going forward would be positive and the Proposed Share Subscription should augur well and enhance PENERGY Group future earnings. The Proposed Share Subscription is not expected to materially change the risk profile of the PEB Group as PEB Group is already involved in the in the integrated brownfield maintenance & engineering services segment. The PEB Group will continue to be exposed to similar business, operational, financial, foreign exchange and investment risks inherent in the oil and gas industry, although the exposure may now be larger on the account of integrated brownfield maintenance & engineering services segment.
6.2 Substantial Shareholders’ Shareholdings
6.3 Net Assets (“NA”) and gearing
6.4 Earnings and EPS
6.5 Convertible securities As at 28 June 2013, PENERGY does not have any convertible securities.
8. HIGHEST Percentage Ratios APPLICABLE
9. DIRECTORS AND MAJOR SHAREHOLDERS’ INTERESTS None of the Directors and major shareholders of PENERGY together with persons connected to them (if any) has any interest, directly or indirectly, in the Proposed Share Subscription. The Board, having considered all aspects of the Proposed Share Subscription (including, but not limited to the rationale, the salient terms of the SSA, the prospects of BSSB, and the risks of the Proposed Share Subscription), is of the opinion that the Proposed Share Subscription is fair and reasonable and is in the best interest of the PEB Group. Barring any unforeseen circumstances, the Proposed Share Subscription is expected to be completed by end of July 2013. The SSA will be available for inspection at the registered office of PEV at Suite 13.02, Level 13, Menara OBYU, 4, Jalan PJU 8/8A, Bandar Damansara Perdana, 47820 Petaling Jaya, Selangor Darul Ehsan from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this Announcement. This announcement is dated 28 June 2013. |
PUNCAK - NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS):FUND RAISING (Amended Announcement)
Company Name | PUNCAK NIAGA HOLDINGS BERHAD |
Stock Name | PUNCAK |
Date Announced | 28 Jun 2013 |
Category | General Announcement |
Reference No | ML-130628-69386 |
Type | Announcement |
Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
Description | PUNCAK NIAGA HOLDINGS BERHAD ISSUANCE OF UP TO 40,910,609 FREE WARRANTS IN PUNCAK NIAGA HOLDINGS BERHAD (“PNHB”) (“WARRANTS”) ON THE BASIS OF ONE (1) WARRANT FOR EVERY TEN (10) EXISTING ORDINARY SHARES OF RM1.00 EACH IN PNHB HELD BY THE SHAREHOLDERS OF PNHB (“FREE WARRANTS ISSUE”) |
We refer to the previous announcements dated 27 September 2012, 8 October 2012, 18 October 2012, 22 March 2013 and 28 May 2013 in relation to the Free Warrants Issue. On behalf of the Board of Directors of PNHB, Hong Leong Investment Bank Berhad (formerly known as MIMB Investment Bank Berhad)wishes to inform the Exchange that the shareholders of PNHB whose names appear in the Record of Depositors of PNHB (“Depositors”) at 5.00 p.m. on 15 July 2013 shall qualify for entitlement to the Free Warrants Issue. Please refer to the attached file for the Notice of Book Closure for the Free Warrants Issue and to the separate announcement on the Entitlements (Notice of Book Closure) released on even date. This announcement is dated 28 June 2013. |
AXIATA - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board
Company Name | AXIATA GROUP BERHAD |
Stock Name | AXIATA |
Date Announced | 28 Jun 2013 |
Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
Reference No | AG-130627-041D2 |
Particulars of substantial Securities Holder
Name | Employees Provident Fund Board |
Address | Tingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur |
NRIC/Passport No/Company No. | EPF ACT 1991 |
Nationality/Country of incorporation | Malaysia |
Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each |
Name & address of registered holder | 1) Employees Provident Fund Board ("EPF Board") Ibu Pejabat KWSP, Bangunan KWSP Jalan Raja Laut, 50350 Kuala Lumpur 2) Citigroup Nominees (Tempatan) Sdn Bhd ("Citigroup") EPF Board 3) Citigroup EPF Board (AMUNDI) 4) Citigroup EPF Board (KIB) 5) Citigroup EPF Board (HDBS) 6) Citigroup EPF Board (RHB INV) 7) Citigroup EPF Board (AM INV) 8) Citigroup EPF Board (MAYBAN) 9) Citigroup EPF Board (ALLIANCE) 10) Citigroup EPF Board (NOMURA) 11) Citigroup EPF Board (CIMB PRI) 12) Citigroup EPF Board (ARIM) 13) Citigroup EPF Board (TEMPLETON) 14) Citigroup EPF Board (ABERDEEN) Level 42, Menara Citibank 165 Jalan Ampang, 50450 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Disposed | 24/06/2013 | 1,078,600 | |
Disposed | 24/06/2013 | 500,000 | |
Disposed | 24/06/2013 | 1,269,600 |
Remarks : |
1) The total number of 1,028,615,606 ordinary shares comprised of the following:- a) Citigroup EPF Board - 925,405,106 b) EPF Board - 3,332,900 c) Citigroup EPF Board (AMUNDI) - 4,120,250 d) Citigroup EPF Board (KIB) - 660,000 e) Citigroup EPF Board (HDBS) - 9,254,775 f) Citigroup EPF Board (RHB INV) - 3,000,000 g) Citigroup EPF Board (AM INV) - 12,272,650 h) Citigroup EPF Board (MAYBAN) - 2,635,000 i) Citigroup EPF Board (ALLIANCE) - 2,050,000 j) Citigroup EPF Board (NOMURA) - 37,896,300 k) Citigroup EPF Board (CIMB PRI) - 15,881,425 l) Citigroup EPF Board (ARIM) - 2,700,000 m) Citigroup EPF Board (TEMPLETON) - 4,007,200 n) Citigroup EPF Board (ABERDEEN) - 5,400,000 2) Form 29B received on 27 June 2013 |
AXIATA - Changes in Sub. S-hldr's Int. (29B) - Commonwealth Insurance Holdings Limited ("CIHL")
Company Name | AXIATA GROUP BERHAD |
Stock Name | AXIATA |
Date Announced | 28 Jun 2013 |
Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
Reference No | AG-130627-4BFA7 |
Particulars of substantial Securities Holder
Name | Commonwealth Insurance Holdings Limited ("CIHL") |
Address | Ground Floor Tower 1, 201 Sussex Street, Sydney, NSW, 2000, Australia |
NRIC/Passport No/Company No. | 088 327 959 |
Nationality/Country of incorporation | Australia |
Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each ("Axiata Shares") |
Name & address of registered holder | CIHL is an indirect substantial shareholder through the direct shareholdings of its subsidiaries; namely, First State Investment Management (UK) Limited ("FSIM"), First State Investments International Limited ("FSII"), First State Investments (Singapore) ("FSISG") and RealIndex Investments PTY Limited ("RIIL") whose holdings are registered in the names of the custodians ("Custodians") below. 1) State Street Global Services 525 Ferry Road Edinburgh EH4 2AW (Custodian for FSIM, FSII and FSISG) 2) JPMorgan Chase and Co 1 Chaseside Bournemouth BH7 7DA (Custodian for FSIM, FSII, FSISG and RIIL) 3) Citibank (Hong Kong) Limited 10/F Two Harbourfront, 22 Tak Fund Street, Hung Hom, Kowloon, Hong Kong (Custodian for FSIM, FSII and RIIL) 4) Hong Kong, BNY Mellon Level 24, Three Pacific Place, 1 Queens Road East Hong Kong (Custodian for FSISG) 5) State Street Global Services, State Street Bank & Trust Company (Singapore) 168 Robinson Road, #33-01, Capital Tower, Singapore 068912 (Custodian for FSISG) 6) The Northern Trust Company 50 Bank Street, Canary Wharf, London, E14 5NT (Custodian for FSIM, FSII and FSISG) 7) HSBC Bank Plc Level 29, 8 Canada Square, Canary Wharf, London, E14 5HQ UK (Custodian for FSIM and FSISG) 8) The Bank of New York Mellon 1 Piccadilly Gardens, Manchester, M1 1RN (Custodian for FSIM and FSISG) 9) Danske Bank A/S Depotselskab Strodamvej 46, 2100 Copenhagen (Custodian for FSII) 10) RBC Dexia 71 Queen Victoria Street, London, EX4V 4DE (Custodian for FSIM and FSII) 11) National Bank Nominees Pty Limited GPO Box 1406M, Melbourne VIC 3001 (Custodian for RIIL) |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Acquired | 25/06/2013 | 381,900 |
Remarks : |
Form 29B received on 27 June 2013 |
AXIATA - Changes in Sub. S-hldr's Int. (29B) - Khazanah Nasional Berhad
Company Name | AXIATA GROUP BERHAD |
Stock Name | AXIATA |
Date Announced | 28 Jun 2013 |
Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
Reference No | AG-130627-BE5D7 |
Particulars of substantial Securities Holder
Name | Khazanah Nasional Berhad |
Address | Level 33, Tower 2, Petronas Twin Twers, Kuala Lumpur City Centre, 50088 Kuala Lumpur |
NRIC/Passport No/Company No. | 275505-K |
Nationality/Country of incorporation | Incorporated in Malaysia |
Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each |
Name & address of registered holder | Khazanah Nasional Berhad, Level 33, Tower 2, Petronas Twin Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Transferred | 24/06/2013 | 33,700 | |
Transferred | 25/06/2013 | 75,400 | |
Transferred | 25/06/2013 | 47,400 |
Remarks : |
Form 29B received on 27 June 2013 |
AXIATA - Changes in Sub. S-hldr's Int. (29B) - AmanahRaya Trustees Berhad-Skim Amanah Saham Bumiputera
Company Name | AXIATA GROUP BERHAD |
Stock Name | AXIATA |
Date Announced | 28 Jun 2013 |
Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
Reference No | AG-130627-CB533 |
Particulars of substantial Securities Holder
Name | AmanahRaya Trustees Berhad -Skim Amanah Saham Bumiputera |
Address | Tingkat 4, Balai PNB 201-A, Jalan Tun Razak 50400 Kuala Lumpur |
NRIC/Passport No/Company No. | 766894-T |
Nationality/Country of incorporation | Malaysian |
Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each |
Name & address of registered holder | AmanahRaya Trustees Berhad -Skim Amanah Saham Bumiputera, Tingkat 4, Balai PNB, 201-A, Jalan Tun Razak, 50400 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Acquired | 21/06/2013 | 2,033,000 |
Remarks : |
Form 29B received on 27 June 2013 |
KOMARK - OTHERS Komarkcorp Berhad ("Komarkcorp" or "the Company") - Notice of Requisition for an Extraordinary General Meeting pursuant to Section 144 of the Companies Act, 1965
Company Name | KOMARKCORP BERHAD |
Stock Name | KOMARK |
Date Announced | 28 Jun 2013 |
Category | General Announcement |
Reference No | CC-130628-59179 |
Type | Announcement |
Subject | OTHERS |
Description | Komarkcorp Berhad ("Komarkcorp" or "the Company") - Notice of Requisition for an Extraordinary General Meeting pursuant to Section 144 of the Companies Act, 1965 |
Komarkcorp wishes to inform that it has on 28 June 2013 received a notice of requisition for an Extraordinary General Meeting pursuant to Section 144 of the Companies Act, 1965 for proposed ordinary resolutions for removal and appointment of directors together with special notice of resolutions pursuant to Sections 153 and 128(2) of the Companies Act, 1965 for proposed ordinary resolutions for removal of directors from two shareholders of the Company. A copy of the aforesaid notices together with the enclosures are attached herewith. This announcement is dated 28 June 2013. |
KOMARK - Quarterly rpt on consolidated results for the financial period ended 30/4/2013
Company Name | KOMARKCORP BERHAD |
Stock Name | KOMARK |
Date Announced | 28 Jun 2013 |
Category | Financial Results |
Reference No | CC-130628-E37C6 |
Financial Year End | 30/04/2013 |
Quarter | 4 |
Quarterly report for the financial period ended | 30/04/2013 |
The figures | have not been audited |
- Default Currency
- Other Currency
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION30/04/2013 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 34,742 | 32,734 | 136,037 | 123,346 |
2 | Profit/(loss) before tax | 428 | -406 | 2,829 | 830 |
3 | Profit/(loss) for the period | 86 | -1,002 | 1,517 | 79 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 86 | -1,002 | 1,517 | 79 |
5 | Basic earnings/(loss) per share (Subunit) | 0.11 | -1.26 | 1.90 | 0.10 |
6 | Proposed/Declared dividend per share (Subunit) | 0.50 | 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 ($$) | 1.5200 | 1.4800 |
Remarks : |
The Board of Directors has proposed a first and final single-tier dividend of 0.5 sen per Ordinary Share of RM1.00 each in respect of the financial year ended 30 April 2013 subject to the shareholders' approval at the forthcoming Annual General Meeting (Q4 2012: Nil) |
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:
Country | Base Unit | Subunit |
Malaysia | Ringgit | Sen |
United States | Dollar | Cent |
United Kingdom | Pound | Pence |
TGL - WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Company Name | TEO GUAN LEE CORPORATION BERHAD |
Stock Name | TGL |
Date Announced | 28 Jun 2013 |
Category | General Announcement |
Reference No | CP-130620-69525 |
Type | Announcement |
Subject | WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR |
Description | TEO GUAN LEE CORPORATION BERHAD ("TGL" OR "THE COMPANY") MEMBERS' VOLUNTARY WINDING-UP OF ELECTRA IMPRESSIONS SDN. BHD. AND MODE FASHION MARKETING SDN. BHD. |
The Board of Directors of the Company wishes to announce that the following two dormant companies have been placed under members' voluntary winding-up ("winding-up") pursuant to Section 254(1)(b) of the Companies Act, 1965 on 28 June 2013:- 1. Electra Impressions Sdn. Bhd. ("EISB"), a wholly-owned subsidiary of the Company; and 2. Mode Fashion Marketing Sdn. Bhd. ("MFM"), a wholly-owned subsidiary of Teo Guan Lee (K.L.) Sdn. Bhd., which in turn is a wholly-owned subsidiary of the Company. In relation thereto, Ms Toh Kian Beng of 310A, Jalan Macalister, 10450 Georgetown, Pulau Pinang was appointed as the Liquidator to conduct the winding-up on the same day for both EISB and MFM. The winding-up of EISB and MFM will not have any material effect on the consolidated earnings or net assets of the Company for the financial year ending 30 June 2013. None of the Directors or major Shareholders of the Company or persons connected to them has any interest, direct or indirect, in the winding-up of EISB and MFM. The Board of Directors of the Company is of the opinion that the above winding-up is in the best interest of the Group. This announcement is dated 28 June 2013. |
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