February 13, 2015

Company announcements: GENM, KINSTEL, PRTASCO, GASMSIA, HLCAP, ACOSTEC, TEXCHEM

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

Announcement Type: General Announcement
Company NameGENTING MALAYSIA BERHAD  
Stock Name GENM  
Date Announced12 Feb 2015  
CategoryGeneral Announcement
Reference NoGM-150212-58954

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
DescriptionGENTING MALAYSIA BERHAD (the "Company" or "GENM")
ACQUISITION OF LAND FROM RAV BAHAMAS LIMITED ("ACQUISITION")

We refer to our announcements dated 12 September 2014, 2 January 2015 and 5 February 2015 in relation to the Acquisition (“Announcements”). Unless otherwise stated, the abbreviations used in this announcement shall have the same meanings as defined in the Announcements.

The Board of Directors of GENM wishes to announce that following the fulfilment of all conditions precedent, the Acquisition is closed pursuant to the terms of the Agreement.

This announcement is dated 12 February 2015.



KINSTEL - OTHERS MEMORANDUM OF AGREEMENT BETWEEN KINSTEEL, PERFECT CHANNEL SDN BHD, VIBRANT HOLDINGS SDN BHD AND BEIJING INDUSTRIAL DESIGNING AND RESEARCHING INSTITUTE OF CHINA (“MOA”)

Announcement Type: General Announcement
Company NameKINSTEEL BHD  
Stock Name KINSTEL  
Date Announced12 Feb 2015  
CategoryGeneral Announcement
Reference NoCK-150212-63DF1

TypeAnnouncement
SubjectOTHERS
DescriptionMEMORANDUM OF AGREEMENT BETWEEN KINSTEEL, PERFECT CHANNEL SDN BHD, VIBRANT HOLDINGS SDN BHD AND BEIJING INDUSTRIAL DESIGNING AND RESEARCHING INSTITUTE OF CHINA (“MOA”)

1. INTRODUCTION

The board of directors of Kinsteel (“Board”) wishes to announce that the Company and its subsidiary, Perfect Channel Sdn Bhd (“PCSB”), had on 12 February 2015 entered into a Memorandum of Agreement (“MOA”) with Vibrant Holdings Sdn Bhd (“Vibrant”) and Beijing Industrial Designing and Researching Institute of China (“BIDR”) (Vibrant and BIDR shall collectively be known as “Turnkey Contractor”) to explore the possibility of the Turnkey Contractor’s participation in PCSB via the out-right purchase or other business corporation model for the Enhancement Project (as defined herein) with the objective of making PCSB’s Gurun plant into a more profitable steel related manufacturing plant.

Kinsteel and its subsidiaries (“Group”) are desirous to develop new investment plans for the Group’s businesses, including the installation of new blast furnace facilities and related downstream manufacturing facilities and related infrastructural work, to upgrade and enhance the capacity of the manufacturing operation at the Gurun plant (“the Enhancement Project”).

2. SALIENT TERMS OF THE MOA

2.1 Turnkey Contractor’s Proposal

The Turnkey Contractor has made a turnkey contract proposal to PCSB for the Enhancement Project with an approximate value sum of RM200 million (the “Turnkey Contract Proposal”).

The parties hereto hereby agree, inter alia,

(a) to explore the feasibility of the Turnkey Contract Proposal, within a period of two (2) months with an automatic extension one (1) month from the date of the MOA (“Feasibility Study Period”); and

(b) to structure the payment for the Turnkey Contract Proposal by way of issuance of such number of new shares to be issued by Kinsteel as partial consideration to the Turnkey Contractor for the Enhancement Project, and with the remaining consideration to be settled to the Turnkey Contractor as the Enhancement Project supplier via an agreed supplier’s deferred payment credit term schedule.

2.2 Feasibility Study and Due Diligence

Subject to any extension to be mutually agreed by the Parties hereto, the parties hereto shall forthwith, within the Feasibility Studies Period, conduct and complete:

(a) a feasibility and technical study of the Turnkey Contract Proposal; and

(b) due diligence exercise on Kinsteel and PCSB’s financial affairs (“the Feasibility and Due Diligence Studies”).

2.3 Execution of Legal Binding Agreement

Subject always to:

(a) the completion of the Feasibility and Due Diligence Studies; and

(b) the Turnkey Contract Proposal,

having been conducted to the satisfaction of the parties hereto and further upon the approval of the creditors for the restructuring scheme (if applicable), the parties hereto shall execute a legal binding agreement for the Enhancement Project within one (1) months from the expiry of the aforesaid Feasibility Study Period or such extended period as may be mutually agreed upon.

2.4 Manners of Payment

Upon the execution of the legal binding agreement,for the Turnkey Contract Proposal, the schedule of the contractual payment including any deposit sum payable thereof shall be specified therein.

In the event that the parties hereto decide not to proceed with the Turnkey Contract Proposal for whatsoever reasons prior to the execution of a legal binding agreement for the Turnkey Contract Proposal, neither party shall be liable to the other for any payment cost or expense.

3. BACKGROUND INFORMATION ON VIBRANT AND BIDR

Vibrant is a supplier and engineering, procurement and commissioning contractor of steel products manufacturing equipment and related facilities.

BIDR is an institute providing professional project engineering design, machinery and equipment supply, engineering facilities installation and related infrastructural consultancy work and services.

4. RATIONALE FOR THE MOA

The Company aims to develop new investment plan for its businesses including upgrading and enhancing the capacity of PCSB’s manufacturing operations via the Enhancement Project to increase and enhance the profitability of the Group.

5. FINANCIAL EFFECTS OF THE MOA

The MOA is not expected to have any material effect on the share capital, substantial shareholder’s shareholdings, net assets, earnings and gearing of the Group for the financial year ending 30 June 2015.

The full effects of the Enhancement Project will be announced in due course upon the execution of the legal binding agreement.

6. DIRECTOR’S AND MAJOR SHAREHOLDER’S INTEREST

None of the Directors and major shareholder(s) of Kinsteel or any persons connected to them have any interest, direct and indirect in the MOA.

7. STATEMENT BY DIRECTORS

The Board is of the opinion that the MOA is in the best interest of Kinsteel.

8. DOCUMENTS FOR INSPECTION

The MOA is available for inspection at the registered office of Kinsteel at B-38, First Floor, Lorong Seri Teruntum 139, Off Jalan Bukit Bintang Ubi, 25100 Kuantan, Pahang during normal business hours on Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 12 February 2015.



PRTASCO - MATERIAL LITIGATION

Announcement Type: General Announcement
Company NamePROTASCO BERHAD  
Stock Name PRTASCO  
Date Announced12 Feb 2015  
CategoryGeneral Announcement
Reference NoCA-150212-50025

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionKINGDOM SEEKERS VENTURES SDN BHD v DATO’ SRI CHONG KET PEN & 7 ORS
[Kuala Lumpur High Court Suit No.: 22NCC-407-10/2014]

Further to our announcement dated 29 January 2015, Protasco Berhad ("Company") has on 22 January 2015 filed an application to strike out the legal proceedings initiated by Kingdom Seekers Ventures Sdn Bhd wherein the Company is named as the 7th Defendant ("striking out application").

At the case management on 11 February 2015, parties were directed to file their respective affidavits in reply to the striking out application. A new case management date for the striking out application has been fixed on 11 March 2015 for parties to obtain further directions from the court.



GASMSIA - Quarterly rpt on consolidated results for the financial period ended 31/12/2014

Announcement Type: Financial Results
Company NameGAS MALAYSIA BERHAD  
Stock Name GASMSIA  
Date Announced12 Feb 2015  
CategoryFinancial Results
Reference NoGM-150212-E7F31

Financial Year End31/12/2014
Quarter4
Quarterly report for the financial period ended31/12/2014
The figureshave not been audited

Attachments

GMB 4Q'14.pdf
403 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2014

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2014
31/12/2013
31/12/2014
31/12/2013
$$'000
$$'000
$$'000
$$'000
1Revenue
780,500
604,237
2,773,462
2,317,219
2Profit/(loss) before tax
24,314
50,743
213,121
220,877
3Profit/(loss) for the period
23,339
40,160
167,628
171,436
4Profit/(loss) attributable to ordinary equity holders of the parent
23,343
40,160
167,632
171,436
5Basic earnings/(loss) per share (Subunit)
1.82
3.13
13.06
13.35
6Proposed/Declared dividend per share (Subunit)
4.00
7.36
9.00
13.36


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 ($$)
0.7889
0.7820

Remarks :
Second Interim dividend
The Board of Directors has declared a single-tier second interim dividend of 4.0 sen per share in respect of the financial year ended 31 December 2014, to be paid on 25 March 2015. The entitlement date for the dividend payment is 5 March 2015.

A depositor shall qualify for entitlement to the dividend only in respect of:
(i) shares transferred to the depositor's securities account before 4.00 pm on 5 March 2015 in respect of transfers; and
(ii) shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of Bursa Malaysia Securities Berhad.
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


GASMSIA - Second interim dividend

Announcement Type: Entitlements (Notice of Book Closure)
Company NameGAS MALAYSIA BERHAD  
Stock Name GASMSIA  
Date Announced12 Feb 2015  
CategoryEntitlements (Notice of Book Closure)
Reference NoGM-150212-37577

EX-date03/03/2015
Entitlement date05/03/2015
Entitlement time05:00:00 PM
Entitlement subjectSecond interim dividend
Entitlement descriptionSecond Interim Dividend of 4.0 sen per ordinary share of RM0.50 each, tax exempt under the single-tier system amounting to RM51,360,000 in respect of financial year ended 31 December 2014.
Period of interest payment to
Financial Year End31/12/2014
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone noSymphony Share Registrars Sdn Bhd
Level 6, Symphony House
Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya
Selangor Darul Ehsan
Payment date 25/03/2015
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers05/03/2015 
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit 
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) 
Entitlement indicatorCurrency
CurrencyMalaysian Ringgit (MYR)
Entitlement in Currency0.04


GASMSIA - Change in Principal Officer

Announcement Type: Change in Principal Officer
Company NameGAS MALAYSIA BERHAD  
Stock Name GASMSIA  
Date Announced12 Feb 2015  
CategoryChange in Principal Officer
Reference NoGM-150212-093B6

Date of change12/02/2015
NameAhmad Hashimi bin Abdul Manap
Age51
NationalityMalaysian
Type of changeAppointment
DesignationChief Executive Officer
QualificationsHe is currently the Council Member of the Malaysian Gas Association, member of the Institution of Engineers Malaysia, and member of the International Gas Union Working Committee 4 on Distribution.

In 2004, he attended the Advanced Management Programme at Wharton Business School, USA.

He holds a Bachelor of Science in Civil Engineering from Oklahoma State University, USA.
Working experience and occupation Ahmad Hashimi was appointed as Acting Chief Executive Officer since 1 July 2014. In January 2014, he was appointed as Chief Operating Officer, Technical and prior to that he was the Senior General Manager, Operations & Maintenance of Gas Malaysia since 2007.

He joined Gas Malaysia since its inception in 1992 and had held various positions of General Manager, Deputy General Manager, Regional Manager and Engineering Manager. He was also part of the team that undertook the feasibility study for the implementation of the Natural Gas Distribution System in Peninsular Malaysia for the joint venture between MMC-Shapadu (Holdings) Sdn Berhad, Petroliam Nasional Berhad (“PETRONAS”) and Tokyo Gas-Mitsui & Co Holdings Sdn Bhd between periods of 1991 to 1992. Prior to that in 1989, Ahmad Hashimi worked with MMC Engineering Sdn Bhd as a Pipeline Engineer to undertake the Engineering, Procurement, Construction and Commissioning of Stage II of PETRONAS Peninsular Gas Utilisation Project. In addition to his role in Gas Malaysia, Ahmad Hashimi also holds office as Chairman in Gas Malaysia Energy Advance Sdn Bhd and Gas Malaysia IEV Sdn Bhd, as well as Director in Gas Malaysia (LPG) Sdn Bhd and Pelantar Teknik (M) Sdn Bhd.

His career began in 1986 when he joined a local consulting firm as a Structural/Civil Engineer to perform structural design for building complexes which include residential, commercial and schools.
Directorship of public companies (if any)Nil
Family relationship with any director and/or major shareholder of the listed issuerNil
Any conflict of interests that he/she has with the listed issuer or its subsidiariesNil
Details of any interest in the securities of the listed issuer or its subsidiariesHolds 21,500 shares in Gas Malaysia Berhad.

Remarks :
Gender - Male

This announcement is dated 12 February 2015.


HLCAP - HLCAP- IMPOSITION OF TRADING SUSPENSION

Announcement Type: Listing Circular
Company NameHONG LEONG CAPITAL BERHAD  
Stock Name HLCAP  
Date Announced12 Feb 2015  
CategoryListing Circular
Reference NoUM-150212-65950

LISTING'S CIRCULAR NO. L/Q : 72461 OF 2015


    Bursa Malaysia Securities Berhad (Bursa Securities) had commenced enforcement proceedings against HONG LEONG CAPITAL BERHAD (HLCAP) for breach of paragraph 8.02(1) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements (Main LR) and due process was accorded to HLCAP.
      After due consideration of all the facts and circumstances, the Listing Committee of Bursa Securities found HLCAP to have breached paragraph 8.02(1) of the Main LR and decided to impose a suspension on the trading of HLCAP’s securities pursuant to paragraph 16.19(1)(a)(ix) of the Main LR.

      In the circumstances, the trading in the securities of HLCAP will be suspended with effect from 3 March 2015 unless an appeal against the suspension is submitted to Bursa Securities on or before 23 February 2015 ("the Appeal Timeframe").

      In the event HLCAP submits an appeal to Bursa Securities within the Appeal Timeframe, HLCAP is required to make an announcement of the appeal and the suspension of the securities of HLCAP on 3 March 2015 shall be deferred pending the decision on the company’s appeal. In the event suspension is imposed, the suspension will only be uplifted upon full compliance of the public shareholding spread in accordance with paragraph 8.02(1) of the Main LR.

      Please refer to HLCAP’s announcement for further details.

ACOSTEC - PROPOSED DISPOSAL OF MACHINERY AND EQUIPMENT

Announcement Type: General Announcement
Company NameACOUSTECH BERHAD  
Stock Name ACOSTEC  
Date Announced12 Feb 2015  
CategoryGeneral Announcement
Reference NoCK-150211-83D59

TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDIJ-150211-59520
SubjectPROPOSED DISPOSAL OF MACHINERY AND EQUIPMENT
DescriptionACOUSTECH BERHAD - PROPOSED DISPOSAL OF MACHINERY AND EQUIPMENT LOCATED AT ADDRESS PLOT 236, 238 & 240 KAWASAN PERUSAHAAN LPK, TAMAN RIA JAYA, 08000 SUNGAI PETANI, KEDAH TO FORMOSA PROSONIC INDUSTRIES BHD FOR A CASH CONSIDERATION OF RM4,500,000.00
Query Letter Contents We refer to the Company's announcement dated 10 February 2015, in respect of
the aforesaid matter.

In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-

The details/types of the Manufacturing Assets to be disposed;
The definition of "Adjusted Value" for the disposal consideration and the basis
to determine the same;
The basis to arrive at the disposal consideration which represents 0.76 times
of the audited carrying amount/Net Book Value of the Manufacturing Assets as at
31 December 2013;
The rationale to dispose the assets at a loss;
The effects on earning per share arising from the cessation of the Sungai
Petani manufacturing plant;
To specify the short term investment that will be funded by the disposal
proceeds;
The percentage of revenue and profit contribution from the Sungai Petani
manufacturing plant to the Group based on the latest audited financial
statements; and
Information pursuant to items 3 and 6 of Appendix 10C of the Main Market
Listing Requirements.

Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.

Yours faithfully




HENG TECK HENG
Vice President, Issuers
Listing Division
Regulation
/IJ
c.c:- General Manager and Head, Market Surveillance, Securities Commission
(via fax)

Please refer to the attachment for the announcement details.

Attachments

AB-12.2.2015.pdf
138 KB



TEXCHEM - OTHERS INCORPORATION OF A SUB-SUBSIDIARY, LIFEON ASIA SDN. BHD.

Announcement Type: General Announcement
Company NameTEXCHEM RESOURCES BERHAD  
Stock Name TEXCHEM  
Date Announced12 Feb 2015  
CategoryGeneral Announcement
Reference NoTR-150212-66651

TypeAnnouncement
SubjectOTHERS
DescriptionINCORPORATION OF A SUB-SUBSIDIARY, LIFEON ASIA SDN. BHD.

The Board of Directors of Texchem Resources Bhd. wishes to announce the incorporation of a sub-subsidiary, Lifeon Asia Sdn. Bhd. and the details are set out in the attachment to this announcement.

Attachments

Lifeon Asia Sdn. Bhd..pdf
16 KB



TEXCHEM - Changes in Sub. S-hldr's Int. (29B) - TEXCHEM CORPORATION SDN. BHD.

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameTEXCHEM RESOURCES BERHAD  
Stock Name TEXCHEM  
Date Announced12 Feb 2015  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoTR-150212-43130

Particulars of substantial Securities Holder

NameTEXCHEM CORPORATION SDN. BHD.
AddressLEVEL 18, MENARA BOUSTEAD PENANG
39 JALAN SULTAN AHMAD SHAH
10050 PENANG
NRIC/Passport No/Company No.59641-U
Nationality/Country of incorporationMALAYSIA
Descriptions (Class & nominal value)ORDINARY SHARES OF RM1.00 EACH
Name & address of registered holderTEXCHEM CORPORATION SDN. BHD.
LEVEL 18, MENARA BOUSTEAD PENANG
39 JALAN SULTAN AHMAD SHAH
10050 PENANG

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed11/02/2015
2,000,000
1.307 

Circumstances by reason of which change has occurredDisposal of 2,000,000 shares by way of a direct business transaction (representing 1.61% of the total issued and paid-up share capital of the Company)
Nature of interestDirect
Direct (units)24,153,109 
Direct (%)19.46 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change24,153,109
Date of notice12/02/2015


No comments:

Post a Comment