|KUANTAN FLOUR MILLS BHD|
KUANTAN FLOUR MILLS BERHAD ( "The Company" or " KFM") - Felcra Berhad ( " Felcra " ) Register of interest retraction and ceassation of all exploratory pursuit to participate in Kuantan Flour Mills Berhad Equity
Further to the announcement made on 13th December 2016 pertaining to the letter of Interest received by the Company from Felcra dated 9th December 2016.
The Board of Directors wishes to announce that the Company had on 14th December 2016 received a letter from Felcra with details stated in the letter as below :
"After urgent deliberation of our register of interest to explore the possibility of participating in KFMB’s equity, we hereby inform that, effective immediately, we are retracting our register of interest and ceasing all exploratory pursuit to participate in Kuantan Flour Mills Berhad equity. As such, our letter dated 9 December 2016 to KFMB shall no longer be of any effect."
Meanwhile, the management and the Board of Directors will continue its utmost effort to explore other opportunities and investment participation by other parties to restructure and revitalise the company.
This announcement is dated 15 December 2016
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PUKITAHI, TARIK HANDBRAKE,
ALL BUYERS GO TO JALAN HOLLAND
JATUH KE JAMBAN MEWAH TIRUAN
There are many anxious investors that are stuck in KFM. In a devastating news today, Felcra has aborted takeover of KFM, below:
KUALA LUMPUR: The Federal Land Consolidation and Rehabilitation Authority (Felcra) Bhd said it has aborted its plan to take up equity in Kuantan Floor Mills Bhd.
In a filing with Bursa Malaysia, KFM said it received a letter to that effect on Wednesday from Felcra.
"Thus, Felcra's letter dated Dec 9 shall no longer be of any effect," it said, adding that Felcra had earlier expressed interest to explore the possibility of participating in KFM's equity under a proposed reverse takeover.
In a separate filing, KFM asked for suspension of trading in its shares on Thursday pending a material announcement.
KFM shares closed at 24.5 sen on Wednesday.
KFM reduced its pre-tax loss for the financial year ended Nov 30, 2016 to RM12.09 million from RM16.85 million registered a year earlier.
Its revenue declined to RM3.92 million from RM24.84 million previously. - Bernama
There are many dubious companies on Bursa that defraud public investors.
However, one company poised for turnaround is Hiap Huat Holdings (HHHCorp, 0160), under the stewardship of CEO Dato. Bryan Chan Say Hwa. The company is expecting to register explosive growth in FY17.