Reported in The Edge Malaysia (5/10/06) that
“The Ayer Molek Rubber Company Bhd (AMolek) has aborted its proposed rights and bonus issue.”
The reason cited is that it is not able to comply with the revised listing requirements on bonus issue that came effect on May 29.
The new rule is that:
“an issuer of a proposed bonus issue had to ensure the necessary reserves required for the capitalisation of the bonus were unimpaired by losses on a consolidated basis,where applicable,based on the lister’s latest audited accounts and quarterly report.”
For AMolek,it had posted a net loss of Rm1.25million for its second quarter ended June 30,2006.
- Rights Issue:Understanding Its Purpose,Mechanism &Difference Between Bonus Issue
- How To Check For Companies Who Might Propose Bonus Issue
- Cautious with Bonus Issue
- Bonus Issue – Illustration And Accounting Treatment ( Part 2 of 2)
- How To Spot Companies Which Are Likely To Issue Bonus Issue
- What Is Bonus Issue And What Is Its Purposes/Reasons (Part 1 of 2)
- Initial Investment Vs Current Investment With Rights,Bonus And Dividend
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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