Key Developments: Bina Goodyear Bhd (BIGO.KL)

BIGO.KL on Kuala Lumpur Stock Exchange

0.07MYR
11 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Bina Goodyear Berhad updates on winding-up petition
Wednesday, 2 Jul 2014 08:00pm EDT 

Bina Goodyear Berhad:With referance to announcements on July. 8, 2013, July. 17, 2013, Aug. 28, 2013, Sept. 6, 2013, Nov. 21, 2013, Jan. 29, April 8, May 7 and May 14.Says Shah Alam High Court Winding-Up Petition No. 28-180-04/2013 by AmBank (M) Bhd (AmBank) against BGB.Board of Directors of Bina Goodyear Berhad (BGB) announces that above matter, which had been fixed for Hearing on July 3 has been fixed by the Court for Case Management on Aug. 21.  Full Article

High Court of Malaya in Kuala Lumpur grands Restraining Order to Bina Goodyear Berhad
Thursday, 26 Jun 2014 08:00pm EDT 

Bina Goodyear Berhad:Company has been granted order pursuant by High Court of Malaya in Kuala Lumpur to restrain any and all proceedings and/or actions and/or further proceedings in any suits and/or proceedings and/or actions against BGB, and/or in respect of BGB and/or its assets and/or assets employed in its business.Says including without limitation any winding-up, execution, arbitration proceedings, act of repossession or purported repossession, appointment of receivers and managers, liquidators, provisional liquidators or otherwise whatsoever.Says by any creditors and/or purported creditors or any other persons whatsoever, except by leave of court for period of 45 days effective from June 27.Says restraining order was applied for to enable BGB to focus its efforts on operating the business of company.Says formalising its proposed regularisation plan, unhindered by the probability of having to divert resources to defending or dealing with any proceedings and/or actions by creditors, purported creditors or any other persons.  Full Article

Bina Goodyear Berhad acquired interest in BGB CONSTRUCTION SDN BHD
Monday, 17 Mar 2014 02:00am EDT 

Bina Goodyear Berhad:Says on March 14, 2014 acquired the entire equity interest in BGB CONSTRUCTION SDN BHD.Acquisition comprising three ordinary shares of 1.00 ringgit each for a total cash consideration of 3.00 ringgit only.  Full Article

Bina Goodyear Berhad Updates On Winding Up Petition Presented By Hap Seng Trading (BM) Sdn Bhd
Thursday, 14 Nov 2013 05:07am EST 

Bina Goodyear Berhad announced that further to the announcements dated made earlier, the Board of Directors of the Company now announced that the High Court in Shah Alam had on August 28, 2013 granted an order for the winding-up of the Company, without having been notified that the Company had on August 16, 2013, obtained a restraining order pursuant to Sections 176(10) and 176(10A) of the Companies Act 1965, to restrain any and all proceedings and/or actions and/or further proceedings in any suits and/or proceedings and/or actions against BGB, and/or in respect of BGB and/or its assets and/or assets employed in its business, including without limitation any winding-up, execution, arbitration proceedings, act of repossession or purported repossession, the appointment of receivers and managers, liquidators, provisional liquidators or otherwise whatsoever, by any creditors and/or purported creditors or any other persons whatsoever, except by leave of the Court, for a period of 90 days from August 16, 2013 (Restraining Order). Upon being notified of the Restraining Order, HST had on September 2, 2013 submitted a petition for a stay in perpetuity on the winding-up order, which was granted by the Court on September 17, 2013.  Full Article

Bina Goodyear Berhad Does Not Recommend Dividend
Monday, 26 Aug 2013 10:00am EDT 

Bina Goodyear Berhad announced that no dividend paid during the current quarter for the financial period ended June 30, 2013.  Full Article

Bina Goodyear Berhad Announces Winding-up Petition Presented By AmBank (M) Bhd
Monday, 22 Apr 2013 08:00pm EDT 

Bina Goodyear Berhad announced that a winding-up petition has been presented by AmBank (M) Bhd on April 19, 2013 for the winding-up of the Company by the High Court (the Petition), and is schedule to be heard before the High Court at Shah Alam on July 17, 2013.  Full Article

Bina Goodyear Berhad to Set up SPV
Sunday, 30 Dec 2012 07:51pm EST 

Bina Goodyear Berhad (BGB) announced that the Company will incorporate a new subsidiary company to facilitate the Proposed Debt Settlement (the SPV). The main objective of the SPV is to receive all of the assets and liabilities of the Company which shall be novated to the company, and thereafter to realize the assets of the BGB Group (that have been novated to it) and to distribute the proceeds realized to the Scheme Creditors based on the respective entitlements on a pari passu basis, as if the Company and its subsidiaries have been liquidated instead. The BGB Group shall novate to the SPV all the assets of the Group as at the Cut-off Date together with all its liabilities to the Scheme Creditors for a consideration of MYR 4.83 million to be paid to the SPV via the issuance of MYR 48,290,000 new ordinary shares of MYR 0.10 each by NewCo. However, at any time before the novation of the Novated Assets and the Novated Liabilities to the SPV in the implementation of the PCDRS (the Retained Assets), the Group shall be entitled to buy back from the SPV and its subsidiary companies any of the Novated Assets that NewCo thinks necessary for the future operations of the Group after the implementation of the PCDRS for a cash consideration equal to the market value of the Retained Assets as at the Cut-off Date, but not less than MYR 4,829,000.  Full Article

Bina Goodyear Berhad Suspends Senior General Manager (Finance)
Thursday, 22 Nov 2012 04:11am EST 

Bina Goodyear Berhad announced that the Senior General Manager (Finance) of the Company has been suspended, pending investigation into the accounting records of the Company.  Full Article

Bina Goodyear Bhd Announces Ownership Interest Of Casa Inai Sdn Bhd
Tuesday, 18 Sep 2012 05:16am EDT 

Bina Goodyear Berhad announced that Casa Inai Sdn Bhd has a direct interest of 283,400 (units), representing 0.5570% of the total shares in the Company. Earlier, Casa Inai Sdn Bhd had 5.9000% of the total shares in the Company.  Full Article

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