Friday, January 18, 2013

Patimas Computers Berhad





















Should you think that trading in Patimas share at current condition will provide a peace of mind for you?

Let see how much you know about this Company before the recent price surge, all this can be done by just follow the announcement from Bursa Malaysia website.

5th October 2012

LISTING'S CIRCULAR NO. L/Q : 66197 OF 2012

The above Company has failed to submit its Annual Report for financial period ended 31 March 2012 to Bursa Malaysia Securities Berhad ("Bursa Securities") for public release within the stipulated timeframe pursuant to Paragraph 9.23(1) of Bursa Securities' Main Market Listing Requirements ("LR").

Pursuant to Paragraph 9.28(5) of the LR, if a listed issuer fails to issue the outstanding financial statements within 5 market days after the expiry of the relevant timeframe stated in Paragraph 9.23(1) of the LR ("Relevant Timeframe") (the last day of the 5 market days is referred to as "Suspension Deadline"), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend the trading in the securities of such listed issuer. The suspension shall be effected on the next market day after the Suspension Deadline.

In view of the above and in accordance with Paragraph 9.28(5) of the LR, a trading suspension will be imposed on the shares of the Company. However, as the Company's shares has been suspended from trading since 8 August 2012 due to its failure to submit its annual audited accounts for financial period ended 31 March 2012, please be advised that the suspension of trading will continue until further notice.

Furthermore, please note that pursuant to Paragraph 9.28(6) of the LR, if a listed issuer fails to issue the outstanding financial statements within 6 months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against such listed issuer.

1st November 2012

1. INTRODUCTION 
Pursuant to Paragraph 8.04 and Paragraph 2.1(d) of the Main Market Listing Requirements, the Board of Directors of Patimas wishes to announce that as of the date hereof, Patimas is considered a PN17 company. 

    The PN17 criteria was triggered as a result of the Company’s latest audited financial statements for the financial period from 1 January 2011 to 31 March 2012 that was announced on 1 November 2012 wherein Patimas’Auditors have expressed a disclaimer of opinion on the Company’s latest audited financial statements for the financial period from 1 January 2011 to 31 March 2012 (“the First Announcement”).
2. OBLIGATIONS OF THE COMPANY AS AN AFFECTED LISTED ISSUER
    Pursuant to PN17, the Company as an affected listed issuer is required to comply with the following:-
    i) within 12 months from the date of the First Announcement
      a) submit a regularisation plan to the Securities Commission (“SC”) if the plan will result in a significant change in the business direction or policy of the Company; or
      b) submit a regularisation plan to Bursa Malaysia if the plan will not result in a significant change in the business direction or policy of the Company, and obtain Bursa Malaysia’s approval to implement the plan
    ii) implement the regularisation plan within the time frame stipulated by the SC or Bursa Malaysia, as the case may be;
    iii) announce within three (3) months from this First Announcement, on whether the regularisation plan will result in a significant change in the business direction or policy of the Company;
    iv) announce the status of its regularisation plan and the number of months to the end of the relevant time frames referred in Paragraphs 5.1 and 5.2 in PN17, as may be applicable, on a monthly basis until further notice from Bursa Malaysia; 
    v) announce its compliance or non-compliance with a particular obligation imposed pursuant to PN17, on an immediate basis;
    vi) announce the details of the regularisation plan (“Requisite Announcement”) and sufficient information to demonstrate that the Company is able to comply with all the requirements set out in Paragraph 3.1 of PN17 after implementation of the regularisation plan, which shall include a timetable for the complete implementation of the regularisation plan. The Requisite Announcement must be made by the Company’s Principal Adviser; and
    vii) where the Company fails to regularise its condition, it will announce the dates of suspension and de-listing of its listed securities immediately upon notification of suspension and de-listing by Bursa Malaysia.
3. CONSEQUENCE OF NON-COMPLIANCE
    In the event the Company fails to comply with the obligations to regularise its condition, all its listed securities will be suspended from trading on the next market day after five (5) market days from the date of notification of suspension and de-listing by Bursa Malaysia and de-listing procedures shall be taken against the Company, subject to the Company’s right to appeal against the de-listing.
4. STATUS OF PLAN TO REGULARISE CONDITION
    The Company intends to formulate a regularisation plan to address its PN17 status.


9th November 2012

LISTING'S CIRCULAR NO. L/Q : 66479 OF 2012



Further to Listing Circular No. 66197, kindly be advised that the above Company has on 9 November 2012 submitted its outstanding Annual Report for the financial period ended 31 March 2012 to Bursa Malaysia Securities Berhad ("Bursa Securities") for public release pursuant to Paragraph 9.23(1) of the Main Market Listing Requirements ("Main LR"). The Company had also on 1 Novemer 2012, submitted its quarterly report for the financial period ended 30 June 2012 and annual audited accounts for the financial period ended 31 March 2012, pursuant to Paragraphs 9.22(1) and 9.23(2) of the Main LR respectively.

In view of the above, kindly be advised that the suspension of trading in the above Company's shares will be uplifted with effect from 9.00 am, Monday, 12 November 2012.
9th November 2012

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2012

INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2012
30/09/2011
30/09/2012
30/09/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
6,987
0
18,520
0
2Profit/(loss) before tax
-8,580
0
-13,506
0
3Profit/(loss) for the period
-8,580
0
-13,506
0
4Profit/(loss) attributable to ordinary equity holders of the parent
-8,567
0
-13,446
0
5Basic earnings/(loss) per share (Subunit)
-1.04
0.00
-1.63
0.00
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7Net assets per share attributable to ordinary equity holders of the parent ($$)
-0.0300
-0.0300

Remarks :
(i) Due to the change in the financial year end from 31 December to 31 March, no comparative figures are presented.

(ii) Basic earnings per share for the quarter and financial period is calculated based on the net profit divided by the weighted average number of ordinary shares for the quarter and financial period respectively.

(iii) The unaudited condensed consolidated statements of comprehensive income should be read in conjunction with the annual audited accounts for the financial period ended 31 March 2012.
Definition of Subunit:
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence
7th December 2012

Particulars of Director

NameDato' Yap Wee Hin
AddressNo. 56, Jalan Balau, Damansara Heights, 50490 Kuala Lumpur
Descriptions(Class & nominal value)Ordinary Shares of RM0.10 each

Details of changes

Currency: Malaysian Ringgit (MYR)
Type of transaction
Date of change
No of securities
Price Transacted (RM)
Disposed
03/12/2012
10,000,000
0.020 
Disposed
04/12/2012
15,000,000
0.020 
Disposed
05/12/2012
17,000,000
0.020 

Circumstances by reason of which change has occurredForced Sale
Nature of interestIndirect
Consideration (if any)

Total no of securities after change

Direct (units)199,610 
Direct (%)0.0241 
Indirect/deemed interest (units)85,011,240 
Indirect/deemed interest (%)10.282 
Date of notice05/12/2012

Remarks :
The total 85,210,850 ordinary shares of RM0.10 each held are as follows:-

1) 64,650,710 ordinary shares of RM0.10 each are registered in the name of EB Nominees (Tempatan) Sendirian Berhad [Pledged Securities Account for Forum Pintar Sdn Bhd (BB)];

2) 20,360,530 ordinary shares of RM0.10 each are registered in the name of Lee Kwee Huang; and

3) 199,610 ordinary shares of RM0.10 each are registered in the name of Yap Wee Hin.

The percentage of direct and indirect interest in Ordinary Shares excludes 6,100,000 Ordinary Shares of RM0.10 each bought-back by the Company and retained as treasury shares.

The notification forms were received by the Company on 7 December 2012.

12th December 2012

Particulars of Director

NameRobert Daniel Tan Kim Leng
Address8 Jalan SS22/20A, Damansara Jaya, 47400 Petaling Jaya
Descriptions(Class & nominal value)Ordinary Shares of RM0.10 each

Details of changes

Currency: Malaysian Ringgit (MYR)
Type of transaction
Date of change
No of securities
Price Transacted (RM)
Disposed
07/12/2012
5,000,000
0.020 
Disposed
10/12/2012
5,000,000
0.020 

Circumstances by reason of which change has occurredForced Sale
Nature of interestIndirect
Consideration (if any)

Total no of securities after change

Direct (units)45,940 
Direct (%)0.0056 
Indirect/deemed interest (units)48,650,710 
Indirect/deemed interest (%)5.8842 
Date of notice12/12/2012

Remarks :
The total 48,696,650 ordinary shares of RM0.10 each held are as follows:-

1) 48,650,710 ordinary shares of RM0.10 each are registered in the name of EB Nominees (Tempatan) Sendirian Berhad [Pledged Securities Account for Forum Pintar Sdn Bhd (BB)];

2) 45,940 ordinary shares of RM0.10 each are registered in the name of Robert Daniel Tan Kim Leng.

The percentage of direct and indirect interest in Ordinary Shares excludes 6,100,000 Ordinary Shares of RM0.10 each bought-back by the Company and retained as treasury shares.


17th December 2012

Particulars of Director

NameDato' Ng Back Heang
Address2, Jalan BU7/2, Bandar Utama, 47800 Petaling Jaya, Selangor Darul Ehsan
Descriptions(Class & nominal value)Ordinary Shares of RM0.10 each

Details of changes

Currency: Malaysian Ringgit (MYR)
Type of transaction
Date of change
No of securities
Price Transacted (RM)
Transferred
14/12/2012
24,787,300
 

Circumstances by reason of which change has occurredTransfer to spouse
Nature of interestDirect
Consideration (if any) 

Total no of securities after change

Direct (units)73,160 
Direct (%)0.0088 
Indirect/deemed interest (units)24,787,300 
Indirect/deemed interest (%)2.998 
Date of notice17/12/2012

Remarks :
The total 24,860,460 ordinary shares of RM0.10 each held are as follows:-

1) 73,160 ordinary shares of RM0.10 each are registered in the name of Dato' Ng Back Heang; and

2) 24,787,300 ordinary shares of RM0.10 each are registered in the name of Heng Cheow Wah

The percentage of direct interest in Ordinary Shares excludes 6,100,000 Ordinary Shares of RM0.10 each bought-back by the Company and retained as treasury shares.

10th January 2013
TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDNS-130110-59455
SubjectUnusual Market Activity
DescriptionUnusual Market Activity
Query Letter ContentsWe draw your attention to the sharp rise in price and volume of your Company’s
shares recently.

In accordance with the Corporate Disclosure Policy on Response To Unusual
Market Activity pursuant to Paragraph 9.11 of the Main Market Listing
Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities LR”), you
are requested to furnish Bursa Malaysia Securities Berhad (“Bursa Securities”)
with an announcement for public release after making due enquiry with your
directors and major shareholders seeking the cause of the unusual market
activity in the Company’s securities.

In this respect, you are also required to publicly confirm, amongst others, the
following:-

1. whether there is any corporate development relating to your Group’s
business and affairs that has not been previously announced that may account
for the unusual market activity including those in the stage of
negotiation/discussion. If yes, kindly provide the details including status of
the corporate development to enable investors to make informed investment
decision;

2. whether there is any rumour or report concerning the business and affairs of
the Group that may account for the unusual market activity and in this respect,
you are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities
LR;

3. whether you are aware of any other possible explanation to account for the
unusual market activity; and

4. your compliance with the Bursa Securities LR, in particular Paragraph 9.03
of the Bursa Securities LR on immediate disclosure obligations.




...2/-







Please note that the contents of the announcement must be endorsed by the Board
of Directors of the Company and the announcement must reach Bursa Securities
immediately via Bursa LINK.


Yours faithfully




TAN YEW ENG
Head, Issuers
Listing Division
Regulation


TYE/NZ

c.c:- General Manager & Head, Market Surveillance Department, Market
Supervision Buisness Group, Securities Commission (via fax)
Reference is made to the letter from Bursa Malaysia Securities Berhad (“Bursa Securities") dated 10 January 2013 querying the Company on an unusual market activity in relation to the sharp increase in price and volume of the Company’s securities recently. 
The Board of Directors (“Board”) of PATIMAS COMPUTERS BERHAD (“PATIMAS” or “the Company”) wishes to confirm that to the best of their knowledge and after making due enquiry with the Directors (there are no more major shareholders in Patimas) seeking the cause of the unusual market activity in the Company’s securities, PATIMAS is not aware of any of the following that may have contributed to the unusual market activity:-

    1. any corporate development relating to the Group’s business and affairs that has not been previously announced that may account for the unusual market activity including those in the stage of negotiation/discussion;

    2. any rumour or report concerning the business and affairs of the Group that may account for the unusual market activity; and

    3. any other possible explanation to account for the unusual market activity.
save and except for the following:

    The Company has on 12 December 2012 entered into a Memorandum of Understanding ("MOU") with a third party which is a telecommunication company to consider the possibility to provide technology know-how to assist the telecommunication company to manage and run 4G services in a foreign country. However, the preliminary negotiation is still in a state of flux and no specific terms and conditions have been agreed yet. Furthermore, no decision has been made on whether or not to proceed pending due diligence to be carried out by both parties on each other. Depending on the outcome of the due diligence, the above proposal may or may not materialise. 

    Patimas wishes to inform that it possesses the relevant expertise and experience in the telecommunication industry as Patimas has been providing such services to telecommunication companies. 

    As details have yet to be finalised pending the negotiation, no announcement was made on the MOU. Furthermore, it would prejudice the ability of PATIMAS to pursue its corporate objectives in securing this project.

The Company will make the requisite announcement to Bursa Securities of any material information in compliance with the Main Market Listing Requirements of Bursa Securities (“LR”), in particular Paragraph 9.03 of the LR in a timely manner, should there be any further development on this matter.

11th January 2013

Particulars of Substantial Securities Holder

NameDato' Seri Abdul Azim bin Mohd Zabidi
AddressTanah Abang
No.1, Jalan Setiabudi
Bukit Damansara
50490 Kuala Lumpur.
NRIC/Passport No/Company No.590711-08-5593
Nationality/Country of incorporationMalaysia
Descriptions (Class & nominal value)Ordinary Shares of RM0.10 each
Name & address of registered holderSyawaras Sdn. Bhd.
Suite 14-2, Level 14
Wisma UOA Damansara II
No 6, Changkat Semantan
Damansara Heights
50480 Kuala Lumpur

Date interest acquired & no of securities acquired

CurrencyMalaysian Ringgit (MYR)
Date interest acquired11/01/2013
No of securities45,000,000
Circumstances by reason of which Securities Holder has interestPotential for Synergy
Nature of interestIndirect
Price Transacted ($$)0.129

Total no of securities after change

Direct (units)
Direct (%)
Indirect/deemed interest (units)45,000,000 
Indirect/deemed interest (%)5.4427 
Date of notice11/01/2013

Remarks :
Dato' Seri Abdul Azim bin Mohd Zabidi has indirect interest by virtue of being a substantial shareholder in Syawaras Sdn. Bhd.

The percentage of indirect interest in Ordinary Shares excludes 6,100,000 Ordinary Shares of RM0.10 each bought-back by the Company and retained as treasury shares.

16th January 2013

Particulars of substantial Securities Holder

NameDato' Seri Abdul Azim Bin Mohd Zabidi
AddressTanah Abang
1, Jalan Setiabudi
Bukit Damansara
50490 Kuala Lumpur
NRIC/Passport No/Company No.590711-08-5593
Nationality/Country of incorporationMalaysia
Descriptions (Class & nominal value)Ordinary shares of RM0.10 each
Name & address of registered holderSyawaras Sdn. Bhd.
Suite 14-2, Level 14
Wisma UOA Damansara II
6, Changkat Semantan
Damansara Heights
50480 Kuala Lumpur

Details of changes

Currency: Malaysian Ringgit (MYR)
Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired15/01/2013
10,000,000
0.180 

Circumstances by reason of which change has occurredPotential for synergy
Nature of interestIndirect
Direct (units) 
Direct (%) 
Indirect/deemed interest (units)10,000,000 
Indirect/deemed interest (%)1.2095 
Total no of securities after change55,000,000
Date of notice15/01/2013

17th January 2013

LISTING'S CIRCULAR NO. L/Q : 66930 OF 2013

Bursa Malaysia Securities Berhad (Bursa Malaysia Securities) wishes to draw investors’ attention to a recent sharp rise in the price and volume of PATIMAS and to the company’s response to the Unusual Market Activity (UMA) query issued by Bursa Securities on 10 January 2013.
Notwithstanding the company’s response to the above UMA query on 10 January 2013, Bursa Malaysia Securities would like to advise investors to exercise caution and to make informed decisions in the trading of PATIMAS. Bursa Malaysia Securities will not hesitate to take appropriate regulatory action to ensure fair and orderly trading of PATIMAS.
17th January 2013

MEMORANDUM OF UNDERSTANDING PATIMAS COMPUTERS BERHAD (“Patimas” or “Company”) Entry of a Memorandum of Understanding

PATIMAS COMPUTERS BERHAD

TypeAnnouncement
SubjectMEMORANDUM OF UNDERSTANDING
DescriptionPATIMAS COMPUTERS BERHAD (“Patimas” or “Company”)
Entry of a Memorandum of Understanding

1.         INTRODUCTION
Pursuant to the directive from Bursa Malaysia Securities Bhd (“Bursa Securities”) dated 11th and 16th January 2013, the Board of Directors of Patimas Computers Berhad ("Patimas" or "Company") wishes to provide the following additional information regarding the Memorandum of Understanding (“MOU”) announced on 10th January 2013 with a limited company (Party A) in Tanzania.
2.         EVENTS LEADING TO THE SIGNING OF MOU
Party A was introduced by a mutual contact.  Due to the fact the MOU is non binding and subject to the outcome of the due diligence, the Board of Directors has yet to deliberate in depth on the nature and viability of the project.  The MOU was signed to formalize the intention of both parties to further explore the possibilities of working together in the project.
3.         DUE DILIGENCE ON PARTY A AND THE PROJECT
Patimas wishes to highlight that at this MOU stage, it is only at a preliminary negotiation stage and that it is still in a state of flux and no specific terms and conditions have been agreed to yet.
No decision has been made on whether or not to proceed further pending due diligence to be carried out by both parties on each other. Depending on the outcome of the due diligence, the above proposal may or may not materialize.
No due diligence was carried out on Party A prior to signing of the MOU, however, a due diligence on Party A is currently being carried out.
4.         KNOW HOW IN THE PROJECT
In the event the project is carried out, Patimas may have to engage other professionals, advisers and consultants for the project.
5.         FINANCIAL OBLIGATIONS ARISING FROM THE MOU
We reiterate that, as the MOU is only at a preliminary negotiation stage, it is still in a state of flux and no specific terms and conditions have been agreed upon by both parties.
As at the date of this announcement, Patimas does not have the financial capacity to fulfill its financial obligations that may arise from the project.
Shareholders and potential investors should carefully consider the risks set out above before investing in the Company shares and note the current status of Patimas as a PN17 company.



18th January 2013

ARTICLE ENTITLED: "AZIM ZABIDI IN TALKS WITH FOREIGN PARTY TO REVIVE PATIMAS"

PATIMAS COMPUTERS BERHAD

TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDNS-130118-55396
SubjectARTICLE ENTITLED: "AZIM ZABIDI IN TALKS WITH FOREIGN PARTY TO REVIVE PATIMAS"
DescriptionPatimas Computers Berhad (“Patimas” or “Company”)
- Article entitled “Azim Zabidi in talks with foreign party to revive Patimas”
Query Letter ContentsWe refer to the above news article appearing in The Financial Daily, Page 7,
Friday, 18 January 2013, a copy of which is enclosed for your reference.

In particular, we would like to draw your attention to the underlined sentences
which
are


reproduced as follows:-

"... Datuk Seri Abdul Azim Zabidi says he is in talks to rope in a foreign
strategic partner to help revive the fortunes of PATIMAS...";
"... tie up with one of China's biggest Internet companies to take over
Patimas."

In accordance with Bursa Securities' Corporate Disclosure Policy, you are
requested to furnish Bursa Securities with an announcement for public release
confirming or denying the above reported article in particular the underlined
sentences after due and diligent enquiry with all the directors, major
shareholders and all such other persons reasonably familiar with the matters
about which the disclosure is to be made in this respect. In the event you deny
the above reported sentences or any other part of the article, you are required
to set forth facts sufficient to clarify any misleading aspects of the same. In
the event you confirm the above reported sentences or any other part of the
article, you are required to set forth facts sufficient to support the same.

Please furnish Bursa Securities your reply immediately via Bursa LINK.

Yours faithfully

TAN YEW ENG
Head, Issuers
Listing Division, Regulation

TYE/NZ
c.c:- General Manager & Head, Market Surveillance Department, Market
Supervision Buisness Group, Securities Commission (via fax)

We refer to the news article appearing in The Edge Financial Daily, page 7 on Friday 18 January 2013.
After due inquiry with our directors and the management of the Company on the article, we wish to inform Bursa Malaysia Securities Berhad that the Board of Directors and the management of Patimas have not been approached or notified by Datuk Seri Abdul Azim Zabidi of any proposals relating to the foreign strategic partner or any tie ups with one of China’s biggest Internet companies to take over Patimas.
The Board of Directors and the management of Patimas are unaware of the purported plans mentioned in the article.


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