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Ntegrator Hldg

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cowabunga 08-Aug-2024 10:38
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So how now brown cow? Radio silence for so many years already. The market manipulator puat bodoh and go scot free?

cowabunga 23-Jul-2024 10:16
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Sad state of affairs. Previous management was idle, let themselves be booted out by a rogue incoming entity. Incoming entity was blocked from siphoning off more funds by the incompetent SGX which has been kooning all these years. Now stock in limbo. Profitable biz run to the ground

WILLIAM.D 23-Jul-2024 09:33
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subsidiaries Fiber research no money , cannot payS$115,030.08, VOLUNTARY LIQUIDATION

Johnsnow ( Date: 23-Jul-2024 08:02) Posted:

Suspended permanently?

cowabunga ( Date: 04-Jul-2024 19:09) Posted:

Kena makan by crooks.

Johnsnow 23-Jul-2024 08:02
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Suspended permanently?

cowabunga ( Date: 04-Jul-2024 19:09) Posted:

Kena makan by crooks.

luckyboy22 ( Date: 06-Dec-2023 14:19) Posted:

So what is going to happen to our shares

WILLIAM.D 22-Jul-2024 17:58
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RECEIPT OF ORIGINATING CLAIM BY A SUBSIDIARY AND VOLUNTARY LIQUIDATION OF THE SUBSIDIARY

cowabunga ( Date: 11-Jul-2024 13:26) Posted:

More like the earlier ED buay song. If I can' t have the pie I will make sure nobody gets it either

cowabunga 11-Jul-2024 13:26
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More like the earlier ED buay song. If I can' t have the pie I will make sure nobody gets it either

cowabunga 10-Jul-2024 14:19
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Hope soon but unlikely. Maybe the former ED buay song kena booted out. They will probably wait for years hoping everybody forget liao then try their luck again

WILLIAM.D ( Date: 10-Jul-2024 12:57) Posted:

Han is ED also share holder..
important when the share will back to transction ?

cowabunga ( Date: 04-Jul-2024 17:18) Posted:

Why does a SSH want the removal of an executive Director? Who is Han Meng Siew? And who is the tiong trying to remove him? Is she acting under the instructions of somebody?

WILLIAM.D 10-Jul-2024 12:57
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Han is ED also share holder..
important when the share will back to transction ?

cowabunga ( Date: 04-Jul-2024 17:18) Posted:

Why does a SSH want the removal of an executive Director? Who is Han Meng Siew? And who is the tiong trying to remove him? Is she acting under the instructions of somebody?

joe1991 04-Jul-2024 19:16
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Haha....too many

cowabunga 04-Jul-2024 19:09
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Kena makan by crooks.

luckyboy22 ( Date: 06-Dec-2023 14:19) Posted:

So what is going to happen to our shares?

Joelton ( Date: 11-Nov-2023 10:26) Posted:

SGX RegCo identifies board oversight lapses at Incredible Holdings, Ntegrator Holdings

TRANSACTIONS made by Incredible Holdings and Ntegrator Holdings, formerly known as Watches.com, were found to be prejudicial to the interests of the companies and their respective minority shareholders.

Independent reviewer Provenance Capital had been appointed to review all corporate actions and fundraising by both companies over a 12-month period under notices of compliance issued in June last year. In a bourse filing on Friday (Nov 10), Singapore Exchange Regulation (SGX RegCo) released Provenance&rsquo s findings.

The transactions, which took place between October and December 2021, involved joint investments by both companies into the same businesses and the cross-issuance of perpetual securities with free warrants by the companies to each other.

Provenance found that the companies paid significant consideration for the acquisitions of most of the target companies. These companies had relatively weak financials, or the consideration paid was not supported by the opinion of independent financial advisers (IFAs) and independent valuations of the target companies.

In the case of both companies&rsquo acquisitions of Golden Ultra and Gadmobe Group, Provenance found that certain important terms relating to the acquisitions were not made known to valuers.

These include the reduction of the target companies&rsquo net tangible assets to zero or negative through the distribution of substantial amounts of dividends, which could have led to overstated valuations of these target companies.

In addition, the companies issued promissory notes amounting to at least S$48.3 million in aggregate to fund most of these acquisitions, which they aimed to pay for through fundraising exercises.

&ldquo The terms of the proposed fundraising exercises were not in the interest of the companies and their minority shareholders, and/or would potentially result in significant dilution of minority shareholders&rsquo interest,&rdquo SGX RegCo said.

Both companies also claimed that their acquisitions of target companies such as Billion Credit Financial Company, Golden Ultra and Gadmobe Group had no impact on their net tangible assets.

However, the disclosures were misleading and erroneous as the considerations paid for the acquisitions were significantly above their respective attributable net tangible assets and the considerations paid for via promissory notes.

This would have resulted in significant goodwill or intangible assets which would materially reduce the net tangible assets of the companies post-acquisition.

Furthermore, Provenance found that there was generally weak or no evidence to show that directors had put in sufficient robust deliberations and due diligence to evaluate the terms of the transactions before putting them before shareholders to approve.

Despite the IFA suggesting that the transactions were not on normal commercial terms and may be prejudicial to shareholders&rsquo interests, the directors of both companies supported the relevant transactions and recommended that shareholders vote in favour of them.

Provenance also highlighted that in the acquisition of Billion Credit and Golden Ultra, IFA W Capital issued ambiguous IFA opinions, which pointed to the need for clear opinions.

SGX RegCo said that the findings raise &ldquo serious concerns&rdquo on the adequacy and effectiveness of both companies&rsquo internal controls.

The regulator added that it requires the audit committees of both companies to commission reviews on their respective group&rsquo s internal controls and implement enhancements recommended by the independent internal control reviewer (IA reviewer).

&ldquo As directed by the notices of compliance, both companies shall not proceed with any of the transactions nor propose any further corporate action prior to satisfactory resolution of findings raised by Provenance as well as the IA reviewer,&rdquo it said.

The regulator will also look into potential listing rule breaches highlighted by Provenance, and refer potential contraventions of the Companies Act and Securities and Futures Act to the authorities.

It also reminded directors to properly discharge their fiduciary duties and act in the best interests of the company and shareholders, failing which they would contravene section 157 of the Companies Act.

&ldquo SGX RegCo also expects IFA opinions to contain a clear and unequivocal conclusion supported by reasonable factors and bases,&rdquo it said.

Shares of both Incredible Holdings and Ntegrator Holdings remain suspended.

cowabunga 04-Jul-2024 17:18
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Why does a SSH want the removal of an executive Director? Who is Han Meng Siew? And who is the tiong trying to remove him? Is she acting under the instructions of somebody?

bernardc 18-Jun-2024 14:21
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Go to jail... That's good for market .. Goto jail those loaded guys manipulation of stocks.. JAIL TIME COMING

Damnshiok ( Date: 18-Jun-2024 08:13) Posted:

One of the lamest remark I ever seen.. like that won' t Changi be very busy.. any staff of any company who didn' t not fulfill fiduciary duties go jail? Wahaaha... some of your family members could also be in jail too..

bernardc ( Date: 16-Jun-2024 11:18) Posted:

Sgx should put all the defrauders or those not doing their fiduciary duties. Including board members with massive punishment. ..including jail terms..

Damnshiok 18-Jun-2024 08:13
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bernardc ( Date: 16-Jun-2024 11:18) Posted:

Sgx should put all the defrauders or those not doing their fiduciary duties. Including board members with massive punishment. ..including jail terms..

cowabunga 18-Jun-2024 07:22
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SGX is part of the problem too. Incompetent and toothless. See how our local bourse performance over the years is proof enough.

bernardc 16-Jun-2024 11:18
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Sgx should put all the defrauders or those not doing their fiduciary duties. Including board members with massive punishment. ..including jail terms..

cowabunga 16-Jun-2024 10:56
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The new management which ousted the previous management are not above board. Ulterior motive to deplete all of Ntegrator' s assets and monies for their own ends to the detriment of Ntegrator' s minority shareholders.

luckyboy22 12-Jun-2024 14:43
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suspended for so long why ah??

cowabunga ( Date: 25-Mar-2024 12:09) Posted:

I wonder if Ntegrator will ever see the light of day. Is there no recourse for minority shareholders over the misdeeds of those helming the company? Can SGX do anything... or sleeping as usual? Tsk Tsk

cowabunga 25-Mar-2024 12:09
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cowabunga 22-Mar-2024 19:59
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We thought the previous management was sleeping. But then he came in and ran Ntegrator into the ground..

SmallSmall 22-Mar-2024 19:51
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Not a bad thing. He has to go in order for the company to have a chance of relisting. That is my view

colincheong ( Date: 01-Feb-2024 20:54) Posted:

Hey,
The main guy is out now. Who is running the show in the company?
Anyone can predict what is next?

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