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Aspen
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TheMatrix
Elite |
26-Aug-2022 14:17
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Shall have give them a big fine. Half a million dollar.
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FrancisLim
Elite |
26-Aug-2022 12:40
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for making non factual and misleading disclosures and for not updating the earlier disclosure where subsequent events showed that the disclosure was misleading,, punishment - go for training embargo on being appointed as Director on SGX co for six months, These are like wrist slaps What about the investors who went to buy the share on non factual and misleading information based on the Co' s disclosure on SGX? go for training and education, and embargo on investing on SGX for six months |
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chiachiawee
Elite |
26-Aug-2022 12:27
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This time SGX did well. Regulatory Actions By SGX::LDC reprimands Aspen, Murly Manokharan, Seri Nazir Ariff Bin Mushir Ariff,Anilarasu Amaranazan Serve the directors and Datok well. Thought can anyhow play with their listed Company. This is non s-chip hor. cheers. |
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Checkerman
Master |
23-Jun-2022 08:55
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Marvellous Bullish... LONG term $1
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Joelton
Supreme |
23-Jun-2022 08:36
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Aspen Glove gets interim injunction to stop Multi Purpose Metal Tech from filing or presenting winding-up petition
ASPEN Glove, the glove-making subsidiary of Aspen (Group) Holdings : 1F3 0%, on Tuesday (Jun 21) obtained an ex parte interim injunction restraining Multi Purpose Metal Tech (MPMT) &ndash the company that issued a letter of demand to Aspen Glove claiming about RM29.3 million (S$9.2 million) &ndash from filing or presenting a winding-up petition against Aspen Glove until the inter partes hearing is held.
According to a May 20 filing, Aspen Glove had received a letter of demand from MPMT on May 18, claiming the amount of RM29.3 million that was allegedly owed to it relating to the design, fabrication and installation of glove-dipping lines at Aspen Glove&rsquo s manufacturing facilities.
Payment had to be made within 7 days, failing which MPMT will be entitled to take legal action against Aspen Glove.
Aspen Glove disputed the letter, saying that the claim amount is not due and payable yet as the contractual works undertaken by MPMT have not been fully completed and there are unresolved issues arising from defects.
In a bourse filing on Wednesday (Jun 22), Aspen said that Aspen Glove has also served an originating summons and notice of application on MPMT&rsquo s lawyers in the High Court.
Among other things, Aspen Glove is seeking a declaration that the notice which the company received on May 27 is &ldquo null and void&rdquo , and that MPMT shall be restrained by an injunction from acting on the notice. This includes, but is not limited to, MPMT filing or presenting a winding-up petition against Aspen Glove.
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Joelton
Supreme |
10-Jun-2022 09:00
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Aspen to scale down glove-making venture, warns of ' material impact' for current FY
Aspen (Group) Holdings is &ldquo significantly&rdquo scaling down the operations of its glove-making subsidiary Aspen Glove, given the &ldquo drastic reduction&rdquo of gloves with the easing of the pandemic.
Aspen warns that this move will have a material impact on its results in the current financial year ending June 30 2022.
Headed by president and group CEO Murly Manokharan (picture), Aspen&rsquo s core business is in property development but has since joined the fray of companies diversifying into glove-making amid the boom for medical consumables during the pandemic.
According to Aspen, the glove-making industry is seeing high inventory levels, stiffer competition, supply chain issues, inflationary pressures, and decline in selling prices.
The company cites risks of a global recession with the on-going war in Russia and Ukraine dragging on as another reason.
As selling prices continue to drop, buyers have &ldquo refrained&rdquo from stocking up to avoid locking in their purchases at high prices.
&ldquo As a result, Aspen Gloves has been unable to secure any significant new purchase orders from its existing or new customers,&rdquo the company says.
It is now &ldquo evaluating various options&rdquo on this glove business, including recapitalisation, entering into a joint venture and/or sale of the entire business and assets of Aspen Gloves
For now, it will continue to focus on its original property development business and also the fledging F& B business.
See also: F J Benjamin Holdings to retail and distribute Cole Haan in Singapore and Malaysia
The company&rsquo s glove making subsidiary had earlier announced it faces claims from a couple of contractors, including RM29.35 million from Multi Purpose Metal Tech and RM84.4 million from Tialoc Malaysia.
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moneynoenough
Senior |
09-Jun-2022 12:17
Yells: "ikan bilis " |
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dato folly --- if cant make it in property, no hope to make it in gloves la.... anyway surely he already earned 1 hand in 2020 wen agsb idea was sold to the enchanted public. https://links.sgx.com/FileOpen/AGH_Update_AspenGlove_Operations_8June2022.ashx?App=Announcement& FileID=720297 |
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Joelton
Supreme |
23-May-2022 09:52
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Aspen (Group)' s glove subsidiary receives claim for RM29.35 mil
Aspen Glove has received a letter of demand from Multi Purpose Metal Tech claiming nearly RM29.35 million allegedly owed for the design, fabrication and installation of glove-dipping lines at Aspen Glove&rsquo s manufacturing facilities.
As cited in the May 18 letter, Aspen Glove got to pay up within seven days and failing which MPMT will be &ldquo entitled to take legal action&rdquo .
Aspen Glove, a subsidiary of SGX listed Aspen (Group) Holdings, had on April 13 separately received a notice of adjudication from another contractor Tialoc Malaysia claiming RM84.4 million for work done for its glove-making plant. This follows a letter of demand that was first received by Aspen Glove on March 3.
&ldquo Aspen Glove disputes the Letter of Demand and contends that MPMT&rsquo s claim is not due and payable as the contractual works undertaken by MPMT have yet to be fully completed and there are unresolved issues arising from defects,&rdquo states Aspen (Group) in its SGX announcement on May 20.
&ldquo Aspen Glove is currently seeking legal advice on the merits of MPMT&rsquo s claim and also assessing counterclaims against MPMT,&rdquo the company adds.
Headed by president and group CEO Murly Manokharan (picture), Aspen&rsquo s core business is in property development but has since joined the fray of companies diversifying into glove-making amid the boom for medical consumables during the pandemic.
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MakeChanges
Elite |
23-May-2022 07:55
Yells: "No price is too low for a bear or too high for a bull" |
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more and more undeclared debts that public doesn' t know | ||||
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MakeChanges
Elite |
23-May-2022 07:53
Yells: "No price is too low for a bear or too high for a bull" |
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RECEIPT OF LETTER OF DEMAND The Board of Directors (the ' Board' ) of Aspen (Group) Holdings Limited (the ' Company' and together with its subsidiaries, the ' Group' ) wishes to announce that the Company&rsquo s subsidiary, Aspen Glove Sdn. Bhd. (' AGSB' ) had on 18 May 2022, received a letter of demand (the ' Letter of Demand' ) from the solicitors acting for Multi Purpose Metal Tech Sdn. Bhd. (' MPMT' ) claiming a sum of RM29,348,000.00 (' MPMT&rsquo s Claim' ) allegedly owed to MPMT relating to the design, fabrication and installation of glove-dipping lines at AGSB&rsquo s manufacturing facilities. The Letter of Demand state that payment of MPMT&rsquo s Claim has to be made within seven (7) days from the date of the Letter of Demand, failing which MPMT will be entitled to take legal action against AGSB without further reference and claim all legal costs incurred against AGSB. AGSB disputes the Letter of Demand and contends that MPMT&rsquo s Claim is not due and payable as the contractual works undertaken by MPMT have yet to be fully completed and there are unresolved issues arising from defects. AGSB is currently seeking legal advice on the merits of MPMT&rsquo s Claim and also assessing counterclaims against MPMT. The Company will update the shareholders via SGXNET as and when there are any material updates in relation to the above. |
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moneynoenough
Senior |
20-May-2022 23:49
Yells: "ikan bilis " |
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noose is getting tighter... 2 yrs of charade General Announcement::RECEIPT OF LETTER OF DEMAND https://links.sgx.com/1.0.0/corporate-announcements/71AF1ISKFAER93DR/2b908e7c635f4e23955edc043c1c8ef0a64bdac922039effe4e191ef0caeaebe |
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Joelton
Supreme |
14-Apr-2022 09:22
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Aspen (Group) receives adjudication notice from Tialoc to claim RM84.4 million
Aspen (Group) Holdings says that its subsidiary Aspen Glove (AGSB) has received a notice of adjudication from its contractor Tialoc Malaysia claiming RM84.4 million for work done for its glove-making plant.
This follows a letter of demand that was first received by AGSB on March 3.
Headed by president and group CEO Murly Manokharan (picture), Aspen&rsquo s core business is in property development but has since joined the fray of companies diversifying into glove-making amid the boom for medical consumables during the pandemic.
&ldquo According to the Notice of Adjudication, Tialoc is seeking payment claim in the sum of RM84,348,615.20 together with financing charges, cost and any other relief as may be Appropriate,&rdquo states Aspen on April 13.
According to Aspen, AGSB, the subsidiary, is now &ldquo working closely with its legal advisors to vigorously contest&rdquo the claim by Tialoc.
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MakeChanges
Elite |
14-Apr-2022 08:06
Yells: "No price is too low for a bear or too high for a bull" |
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The Board of Directors (the ' Board' ) of Aspen (Group) Holdings Limited (the ' Company' and together with its subsidiaries, the ' Group' ) refers to its announcements dated 3 March 2022 and 4 March 2022 in relation to the receipt of letter of demand (the ' Letter of Demand' ) from Tialoc Malaysia Sdn Bhd (' Tialoc' ) against the Company&rsquo s subsidiary, Aspen Glove Sdn. Bhd. (' AGSB' ) (the ' Announcements' ). Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as ascribed to them in the Announcements. Further to the Announcements, the Board wishes to announce that AGSB had on 11 April 2022, received a Notice of Adjudication dated 11 April 2022 (the ' Notice of Adjudication' ) to refer the dispute in relation to Tialoc' s claim against AGSB to adjudication under Sections 7 and 8 of the Construction Industry Payment & Adjudication Act 2012. According to the Notice of Adjudication, Tialoc is seeking payment claim in the sum of RM84,348,615.20 together with financing charges, cost and any other relief as may be appropriate. AGSB is currently working closely with its legal advisors to vigorously contest the Notice of Adjudication and Tialoc' s claim against AGSB. The Company will make further announcements to update the shareholders via SGXNET as and when there are any material updates in relation to the above. |
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MakeChanges
Elite |
30-Mar-2022 22:52
Yells: "No price is too low for a bear or too high for a bull" |
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What traders looking for is profit. As long as at the end of the day you get $$ that will be a good trade. I' m not an investor. So have to distinguish between a day trader vs investor. one is short term another is long term. So im not trying to promote this counter. Pls get facts right. I have also advice buyers not to be greedy (if they get what i meant)
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PHInsider63
Veteran |
30-Mar-2022 21:11
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True.
This counter may be suspended as a going concern.
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coco66
Member |
30-Mar-2022 17:37
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Negative Lesson learn from aspen group: WHEN SOMETHING IS TOO GOOD TO BE TRUE (" promise" to build a factory in super speed), IT PROBABLY IS 😀 😆 |
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booboobear
Member |
30-Mar-2022 09:55
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Have a heart please stop promoting this. | ||||
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MakeChanges
Elite |
30-Mar-2022 09:16
Yells: "No price is too low for a bear or too high for a bull" |
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don' t be greedy is what I can advice those who bought earlier.
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easywin
Supreme |
30-Mar-2022 09:14
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Must have strong heart, up or down very fast | ||||
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MakeChanges
Elite |
30-Mar-2022 08:56
Yells: "No price is too low for a bear or too high for a bull" |
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Watch | ||||
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