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Yes bullish for $1
aspasp ( Date: 16-Mar-2022 20:31) Posted:
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Still going strong ?
All the placement shares, suffer huge losses
butongren ( Date: 07-Mar-2022 12:06) Posted:
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some still holding bought at .25, toh
Welcome to the weekly bashing of Aspen. This is the 1st company I wish to really get sued and investigated by the authorities. Its best to keep this thread alive to warn all others who didn't know the history in the last 2 years.
Next range 050 to 060 not far away. Watch out.
Checkerman ( Date: 01-Mar-2022 07:21) Posted:
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YES ALL of you are Right. This stock has No ability to carry on like this.
Wasting our money in the way they operate the company.
They have NO BEARING in what they do.
Wasting our money in the way they operate the company.
They have NO BEARING in what they do.
Aspen subsidiaries face claims amounting to over RM100m
TWO of Aspen Holdings' Aspen: 1F3 -2.7% subsidiaries have been served notices of claims for over RM100.4 million (S$32.5 million) in total.
In a regulatory filing on Thursday (Mar 3), mainboard-listed Aspen announced that Aspen Glove had received a Mar 1 letter of demand from Tialoc Malaysia claiming RM93.2 million for construction works done for the glove-making subsidiary' s manufacturing facilities, among other services.
Tialoc demanded that payment be made within 7 days from the date of the letter before taking legal action against the company and claiming all legal costs incurred against Aspen Glove.
Aspen said it was seeking legal advice on the merits of the claim while also assessing counterclaims against Tialoc.
In another update after trading hours on Mar 4, Aspen sought to clarify that Tialoc&rsquo s claim was allegedly for the full contract sum based on interim payment certificates issued for work done. The company claims that there are still material unresolved issues with the contractual works done resulting in losses for Aspen due to loss of production and drop in efficiency of production capacity.
Currently both Aspen and Tialoc are in negotiations without prejudice basis for the ratification of defective works, production losses and insurance claims. Aspen will only pay out the outstanding payment if any, to Tialoc once all issues are resolved.
A countersuit might be filed against Tialoc and Aspen is assessing the quantum of a possible claim. The company assures shareholders that it would be able to mitigate any immediate going concern risk with the current capital on the balance sheet, credit facilities and planned additional capital injections from shareholders.
Prior to this, Aspen on Mar 2 disclosed that its subsidiary Aspen Vision City (AVC) had received a Feb 24 writ of summons with a statement of claim.
This was filed by a group of purchasers of AVC' s properties, who are claiming RM7.3 million for the alleged late delivery of vacant possession of development properties.
Aspen said it had sought formal legal advice on the suit and concluded that it had strong legal defence against it, based on initial advice received. As such, AVC intends to " vigorously defend" against the suit filed by the purchasers.
Aspen is not expecting the suit to have any material financial impacts on the group, pending the outcome of the legal proceedings.
GG liao??
Aspen subsidiaries face claims amounting to over RM100m
FRI, MAR 04, 2022 - 8:48 AM UPDATED FRI, MAR 04, 2022 - 6:10 PM
Aspen Glove had received a Mar 1 letter of demand from Tialoc Malaysia claiming RM93.2 million for construction works done for the glove-making subsidiary' s manufacturing facilities, among other services. PHOTO: PIXABAY
TWO of Aspen Holdings' Aspen: 1F3 -2.7% subsidiaries have been served notices of claims for over RM100.4 million (S$32.5 million) in total.
In a regulatory filing on Thursday (Mar 3), mainboard-listed Aspen announced that Aspen Glove had received a Mar 1 letter of demand from Tialoc Malaysia claiming RM93.2 million for construction works done for the glove-making subsidiary' s manufacturing facilities, among other services.
Tialoc demanded that payment be made within 7 days from the date of the letter before taking legal action against the company and claiming all legal costs incurred against Aspen Glove.
Aspen subsidiaries face claims amounting to over RM100m
FRI, MAR 04, 2022 - 8:48 AM UPDATED FRI, MAR 04, 2022 - 6:10 PM
Aspen Glove had received a Mar 1 letter of demand from Tialoc Malaysia claiming RM93.2 million for construction works done for the glove-making subsidiary' s manufacturing facilities, among other services. PHOTO: PIXABAY
TWO of Aspen Holdings' Aspen: 1F3 -2.7% subsidiaries have been served notices of claims for over RM100.4 million (S$32.5 million) in total.
In a regulatory filing on Thursday (Mar 3), mainboard-listed Aspen announced that Aspen Glove had received a Mar 1 letter of demand from Tialoc Malaysia claiming RM93.2 million for construction works done for the glove-making subsidiary' s manufacturing facilities, among other services.
Tialoc demanded that payment be made within 7 days from the date of the letter before taking legal action against the company and claiming all legal costs incurred against Aspen Glove.
Ding ding
commando ( Date: 04-Mar-2022 10:57) Posted:
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How can build factory without paying leh....funny
aspasp ( Date: 04-Mar-2022 09:34) Posted:
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Mbullish huat huat
bought a few condo at Tangjong Rhu
bought a few condo at Tangjong Rhu
lailai ( Date: 04-Mar-2022 10:29) Posted:
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They managed to convince sgx to transfer kongsi from catalyst to MBoard.
jlong0005 ( Date: 04-Mar-2022 09:53) Posted:
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Aspen Chairman and CEO done a " good job" .
Checkerman ( Date: 04-Mar-2022 09:48) Posted:
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where to cough up 30m sgd
MakeChanges ( Date: 04-Mar-2022 09:30) Posted:
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Aspen is really good , glove factory has started production last Sept , but can drag , and hope to get the factory FOC from the contractor
this time round things look abit serious for Aspen
How to win??
Construction of factory...wah liaow..93m ringit..don't play play
lailai ( Date: 04-Mar-2022 08:56) Posted:
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Amount claimed by Tialoc not small, man. Ext:
" The Board of Directors (the &ldquo Board&rdquo ) of Aspen (Group) Holdings Limited (the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that the Company&rsquo s subsidiary, Aspen Glove Sdn. Bhd. (&ldquo AGSB&rdquo ) had on 1 March 2022, received letter of demand (the &ldquo Letter of Demand&rdquo ) from the solicitors acting for Tialoc Malaysia Sdn Bhd (&ldquo Tialoc&rdquo ) claiming an aggregate sum of RM93,163,334.69 (&ldquo Tialoc&rsquo s Claim&rdquo ) for construction work done in relation to AGSB&rsquo s manufacturing facilities and other services rendered pursuant to agreements previously entered into between AGSB and Tialoc."
If lost the case, how?
" The Board of Directors (the &ldquo Board&rdquo ) of Aspen (Group) Holdings Limited (the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that the Company&rsquo s subsidiary, Aspen Glove Sdn. Bhd. (&ldquo AGSB&rdquo ) had on 1 March 2022, received letter of demand (the &ldquo Letter of Demand&rdquo ) from the solicitors acting for Tialoc Malaysia Sdn Bhd (&ldquo Tialoc&rdquo ) claiming an aggregate sum of RM93,163,334.69 (&ldquo Tialoc&rsquo s Claim&rdquo ) for construction work done in relation to AGSB&rsquo s manufacturing facilities and other services rendered pursuant to agreements previously entered into between AGSB and Tialoc."
If lost the case, how?
RECEIPT OF WRIT OF SUMMONS AND STATEMENT OF CLAIM
The Board of Directors (the ' Board' ) of Aspen (Group) Holdings Limited (the ' Company' and
together with its subsidiaries, the ' Group' ) wishes to announce that the Company' s subsidiary,
Aspen Vision City Sdn. Bhd. (' AVC' ) had on 24 February 2022, received a Writ of Summons
endorsed with a Statement of Claim (the ' Writ' ) filed by a group of purchasers of AVC' s
development properties (the ' Plaintiffs' ) in the High Court of Malaya at Penang Malaysia (the
' Suit' ).
Pursuant to the Writ, the Plaintiffs are claiming, inter alia, a sum of RM7,289,223.21 being the
aggregate amount of the claims for alleged late delivery of vacant possession of development
properties under the sale and purchase agreements previously entered into between AVC and
the Plaintiffs.
Subsequent to receiving the Writ, the Group sought formal legal advice on the Suit to assess
AVC' s legal position and whether the Suit could reasonably be characterised as bound to fail.
Based on the initial advice received, AVC has a strong legal defence to the Suit. Hence, AVC will
proceed to vigorously defend the Suit filed by the Plaintiffs.
The Suit is not expected to have any material financial impacts on the Group pending the outcome
of the legal proceedings.
The Board of Directors (the ' Board' ) of Aspen (Group) Holdings Limited (the ' Company' and
together with its subsidiaries, the ' Group' ) wishes to announce that the Company' s subsidiary,
Aspen Vision City Sdn. Bhd. (' AVC' ) had on 24 February 2022, received a Writ of Summons
endorsed with a Statement of Claim (the ' Writ' ) filed by a group of purchasers of AVC' s
development properties (the ' Plaintiffs' ) in the High Court of Malaya at Penang Malaysia (the
' Suit' ).
Pursuant to the Writ, the Plaintiffs are claiming, inter alia, a sum of RM7,289,223.21 being the
aggregate amount of the claims for alleged late delivery of vacant possession of development
properties under the sale and purchase agreements previously entered into between AVC and
the Plaintiffs.
Subsequent to receiving the Writ, the Group sought formal legal advice on the Suit to assess
AVC' s legal position and whether the Suit could reasonably be characterised as bound to fail.
Based on the initial advice received, AVC has a strong legal defence to the Suit. Hence, AVC will
proceed to vigorously defend the Suit filed by the Plaintiffs.
The Suit is not expected to have any material financial impacts on the Group pending the outcome
of the legal proceedings.