Post Reply
81-100 of 385
Reason?
SmallSmall ( Date: 09-Apr-2024 10:08) Posted:
|
6c or more on the way .
wow $0.055 also cleared
SmallSmall ( Date: 09-Apr-2024 10:08) Posted:
|
I think this one is going to the moon.
Well controlled well absorbed and tredning new highs
Well controlled well absorbed and tredning new highs
Looks good
Aspen to pay RM40 million to contractor Tialoc in global settlement
ASPEN Group : 1F3 0% has reached a global settlement with Tialoc Malaysia to pay the contractor a settlement of RM40 million (S$11.4 million), putting an end to a months-long dispute between the two.
The amount is below the contractor&rsquo s initial RM78 million claim filed in August last year for alleged outstanding sums plus financing charges.
To recap, the group&rsquo s indirect subsidiary Aspen Glove on Aug 28, 2023, received a writ of summons endorsed with a statement of claim filed by contractor Tialoc in the Penang High Court.
The writ named Aspen Group, Aspen Glove&rsquo s directors, Aspen Vision All and KHTP Assets as co-defendants. Tialoc also alleged that the co-defendants are liable for fraudulent trading and the alleged debts owed by Aspen Glove.
At the time, Aspen Group said that it &ldquo vehemently&rdquo denied any allegation of fraudulent trading and was seeking legal advice from its solicitors with a view to &ldquo vigorously resist and/or defend the suit&rdquo .
On Monday (Apr 1), the mainboard-listed company said it intends to fund the RM40 million settlement with sale proceeds from a piece of land held by its indirect subsidiary, Aspen Vision Development (Central), for a minimum selling price of RM75 million.
The amount may also be funded through the group&rsquo s internal resources in the case of no potential purchaser.
Under the settlement agreement, Tialoc &ldquo shall use its best effort to identify a suitable purchaser&rdquo for the land, and will be entitled to 53 per cent of its sale proceeds, or about RM39.8 million based on the minimum selling price.
The RM75 million selling price may be reduced to RM67.5 million after six months from the date of the settlement agreement.
Should the land remain unsold within 12 months of the agreement and should either party disagree on selling the land at RM67.5 million, Aspen may be required to pay Tialoc 53 per cent of the reduced selling price. Alternatively, Tialoc may purchase the land from Aspen at 47 per cent of the reduced price.
The land&rsquo s potential disposal will be contingent on a sale and purchase agreement (SPA) between Aspen Vision Development (Central), the potential purchaser, or Tialoc or its nominees.
Aspen Vision Group &ndash which holds a 45.75 stake in Aspen Group &ndash and another shareholder Intisari Utama with a 0.95 per cent stake, have provided irrevocable undertakings to approve the potential disposal of the land at an extraordinary general meeting which will take place once the SPA is entered into.
In July 2023, Aspen Group received an adjudication decision that required Aspen Glove to pay a separate RM84.4 million claim by Tialoc. Aspen Glove filed applications to stay and set aside the legal decision.
The group in its Monday announcement said it would assign all rights, benefits, title and interests in this sum &ndash together with financing and other charges payable by Aspen Glove to Tialoc &ndash to its direct subsidiary, Aspen Vision All.
This would give Aspen Vision All &ldquo the absolute right to deal with the debt as it deems fit&rdquo .
Based on the last audited financial statements of Aspen for the financial year ended Jun 30, 2023, and assuming that the settlement agreement had been completed on Jul 1, 2022, Aspen&rsquo s loss per share for FY2023 would have been 0.15 sen instead of 0.18 sen.
Had the agreement been completed on Jun 30, 2023, the group&rsquo s net tangible assets per share would have stood at 20.24 sen instead of 17.61 sen.
calm before the storm... watching
watching.. maybe can kickstart haha
Is today' s closing price going to be 0.043 ot higher, anyone' s guess
wooncs8870 ( Date: 19-Feb-2024 14:36) Posted:
|
Aspen is not having a good time in trading its stock since morning it has been quite inactive. Wonder why the interest wanes ...
Already gave durians yesterday. You did not pick? Hahaha ...
tofudidi ( Date: 16-Feb-2024 13:42) Posted:
|
Shortist give me durian please! If not later break 50 no money no honey!
your datok tio pancake liao hahaha everyday hoot his stock till he run road
tofudidi ( Date: 14-Feb-2024 16:02) Posted:
|
Which direction is Aspen going to take today?
V day emo day! No girlfriend no Datok bb
datok tio crab meat hahaha
tofudidi ( Date: 14-Feb-2024 13:38) Posted:
|
very strong lah that why 48 drop to 42 i follow them. datuk let them whack until like crab haha
tofudidi ( Date: 14-Feb-2024 14:03) Posted:
|
Fraser so strong.. toh la..
noobnub ( Date: 14-Feb-2024 13:59) Posted:
|
must be fraser stacking the 48 again.......datuk bb ai si liao hahaha
noobnub ( Date: 14-Feb-2024 13:49) Posted:
|
the fraser guys every day say short hor datuk si dont know today what will happen later
tofudidi ( Date: 14-Feb-2024 13:38) Posted:
|