It could see the emergence of new investors following a spate of share disposals by its substantial shareholders.
Teh and IGB have collectively disposed 12.1% equity stake in off market trades. Any party which takes up the block of shares would emerge as the second largest shareholder after Tan Sri Abu Sahid.
It is worth nothing that Abu Sahid has been accumulating shares. He nw holds a 30.6% take in IPMuda. So if he takes up the shares disposed by The and IGB, he would cross the threshold for making a MGO.
Abu Said’s private vehicle Maju Holdings Sdn Bhd was thrust into the limelight when news of its plans to divest its unit highway concessionaire Maju Expressways Sdn Bhd.
While IPMuda has been profitable in the last five financial years, it has seen ballooning receivables for at least the past four years. The amount is due from one of its directors.
Un 2QFY2011, IPMuda’s receivables stood at rm220.02 million.
In its latest filing, the company has resolved most of its outstanding matters with the sub contractor for the government project. As part of its efforts to resolve its related party receivables, the company said the director involved has proposed to settle part of its debt through a contra of two units of property.
IPMuda has incurred operations cash flow deficit for two consecutive quarters. As at June 30, its cash stood at rm6.76 million. Its short term borrowings stood at rm78 million, commercial paper worth rm10 million and shareholders’ equity of rm143 million
Teh and IGB have collectively disposed 12.1% equity stake in off market trades. Any party which takes up the block of shares would emerge as the second largest shareholder after Tan Sri Abu Sahid.
It is worth nothing that Abu Sahid has been accumulating shares. He nw holds a 30.6% take in IPMuda. So if he takes up the shares disposed by The and IGB, he would cross the threshold for making a MGO.
Abu Said’s private vehicle Maju Holdings Sdn Bhd was thrust into the limelight when news of its plans to divest its unit highway concessionaire Maju Expressways Sdn Bhd.
While IPMuda has been profitable in the last five financial years, it has seen ballooning receivables for at least the past four years. The amount is due from one of its directors.
Un 2QFY2011, IPMuda’s receivables stood at rm220.02 million.
In its latest filing, the company has resolved most of its outstanding matters with the sub contractor for the government project. As part of its efforts to resolve its related party receivables, the company said the director involved has proposed to settle part of its debt through a contra of two units of property.
IPMuda has incurred operations cash flow deficit for two consecutive quarters. As at June 30, its cash stood at rm6.76 million. Its short term borrowings stood at rm78 million, commercial paper worth rm10 million and shareholders’ equity of rm143 million
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