舉債來投資 MEGAN 值得嗎 ? （九）

origen

Company Name        :        MEGAN MEDIA HOLDINGS BERHAD
Stock Name         :        MEGAN
Date Announced        :        06/06/2007


               
Type        :        Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID        :        AL-070606-45835
Subject        :        APPOINTMENT OF INTERIM JUDICIAL MANAGERS TO MJC (SINGAPORE) PTE LTD ("MJC")

Contents :

We refer to your letter of even date and respond to your queries as follows:-

1. The particulars of the Interim Judicial Managers ("IJM") are Mr. Ramasamy Subramaniam Iyer @ Rajendran, Mr. Goh Thien Pong and Mr. Chan Kheng Tek of PricewaterhouseCoopers ("PwC"), 8 Cross Street # 17-00, PWC Building, Singapore 048424.

2. The details of the events leading to the appointment of IJM are as follows:-

            On 4th May 2007, MJC's holding company, Megan Media Holdings Bhd announced that its subsidiaries, Memory Tech Sdn Bhd and MJC were unable to meet maturing trade facilities.

            Following this announcement, MJC's creditor banks appointed PwC as its Independent Financial Advisor on 15th May 2007.

            Pursuant to a meeting between MJC, its creditor banks and PwC on 24th May 2007, MJC and its creditor banks agreed to appoint PwC as Interim Judicial Managers to MJC to undertake the following:-

a) to preserve and take into custody and control all of MJC's books, records, documents and assets rightfully owned by MJC;

b) to prevent any possible dissipation of important evidence and / or assets pending recovery efforts which required time to be put in place;

c) to manage the operations and affairs of MJC in view of resignations by key management staff;

d) to manage MJC with a view of maintaining the status quo while safeguarding the interest of creditor banks; and

e) to provide accurate, independent and objective assessment of MJC's financial standing including the extent of assets and liabilities and potential for turnaround.

            On 1st June 2007, MJC's Board applied to the High Court of Singapore for an Order to appoint PwC as Interim Judicial Managers.

            Subsequently on 5th June 2007, the High Court of Singapore granted the Court Order to appoint of Mr. Ramasamy Subramaniam Iyer @ Rajendran, Mr. Goh Thien Pong and Mr. Chan Kheng Tek of PwC as Interim Judicial Managers to MJC.


3. The IJM's terms of reference are set out in Section 227G of the Companies Act (Singapore) and the Singapore High Court Order of 5th June 2007 which is enclosed.

4. The appointment of the IJM is not expected to have any immediate material financial and operational impact on the Group.

5. The IJM's appointment will not have any immediate material impact on the business operations of MJC and the group at the present time as the IJM will endeavor to preserve the status quo.

6. Pursuant to Section 227G (2) of the Companies Act of Singapore, all powers conferred and duties imposed on MJC's directors by the Act or by the Memorandum or Articles of Association of MJC shall be exercised and performed by the IJM and not by the directors.

7. We confirm that MJC remains a wholly owned subsidiary of Megan Media Holdings Berhad.

We will update Bursa Malaysia of any material developments.

Yours faithfully,
For and on behalf of
Megan Media Holdings Berhad


Jeyabalan Parasingam
Deputy Chief Executive Officer

c.c. Mr. Chung Tin Fah
Securities Commission





Query Letter content :
We refer to your Company's announcement dated 5 June 2007, in respect of the
aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:
The particulars of the Interim Judicial Managers.
The details of the events leading to the Appointment.
The terms of reference of the Interim Jucidial Managers.
The financial and operational impact of the Appointment on the group, if any.
The effect of the Appointment on the business operations of MJC / your group.
The role of the board of directors of MJC/your Company in light of the
Appointment.
A confirmation as to whether MJC is a major subsidiary.


Please furnish Bursa Securities with your reply immediately.



Yours faithfully,


TAN YEW ENG
Head, Issuers
Listing Division
Group Regulations
LAL
copy to :- Mr Chung Tin Fah
Securities Commission (via fax)
© 2007, Bursa Malaysia Berhad. All Rights Reserved.

LK-Park

又是假帐！！:@ :@

Mr.Business

蓝光DVD企业拟将生产线向中国转移

2007年05月28日

昨日，《第一财经日报》从正在北京举行的“第十届中国北京国际科技产业博览会”(下称“科博会”)上获悉，为了追求生产成本优势，蓝光DVD标准成员企业正在开始将蓝光DVD生产线由日本、韩国等地向中国工厂转移。

　　本届科博会，松下、LG、三星等跨国企业纷纷将蓝光DVD影碟机、刻录机以及碟片当作重点展品大肆推介。

　　清晰度达1920×1080的蓝光DVD，是国际上强势的高清碟机与碟片标准。在中国市场，蓝光DVD标准成员企业一年来非常高调，三星、LG、索尼、先锋等企业纷纷推出其刻录机产品，不过这些产品之前都是在日本、韩国等地工厂生产的。

　　LG在科博会的展会负责人介绍，今后LG在中国市场销售的4倍速蓝光DVD刻录机，会在位于广东惠州的LG工厂生产。下一步，LG还计划在惠州工厂生产最新研发的双格式高清驱动器GGW-H10N，可兼容播放蓝光DVD和HD-DVD两种高清光盘。

　　松下在本届科博会上还搭建了蓝光DVD家庭影院体验厅，展示其蓝光影碟机与碟片的高清效果。松下中国区常务顾问张仲文介绍，目前松下的蓝光 DVD产品都在日本工厂生产，不过，由于看好中国高清市场的发展前景，松下正计划将一部分蓝光DVD影碟机与碟片的生产线放在大连工厂进行生产。

　　张仲文也坦承，目前蓝光DVD在中国市场尚没有大规模启动，由于中国现有的高清晰度行业标准——EVD与蓝光DVD的技术参数存在差别，蓝光 DVD标准在中国市场尚得不到必要的政策支持，所以，松下、索尼等企业不敢冒险在中国市场大规模生产、销售蓝光DVD产品。松下也正在与
信息产业部等相关部门进行积极协商，尽可能为蓝光DVD在中国发展创造一个良好的政策环境。

http://tech.sina.com.cn/roll/2007-05-28/0245321372.shtml

LK-Park

Company Name        :        MEGAN MEDIA HOLDINGS BERHAD
Stock Name         :        MEGAN
Date Announced        :        06/06/2007


               
Type        :        Announcement
Subject        :        Interim Findings of Investigative Accountant ("IA")

Contents :

Further to Megan Media Holdings Berhad's ("the Company") announcements on 4th May 2007 and 9th May 2007 pursuant to Practice Note 1/2001 and Amended Practice Note 1/2001 and following the Company's meeting with its Creditor Banks on 11th May 2007, the Company, at the behest of its Creditor Banks, had appointed Ferrier Hodgson MH Sdn Bhd as its Investigative Accountant ("IA") for its wholly owned subsidiary, Memory Tech Sdn Bhd ("MTSB") on 17th May 2007.

The Company has now received a preliminary report from its IA dated 6th June 2007. The following are critical findings presented in the report:-

· There are substantial irregularities in the MTSB's financial statements, leading to its financial position having been materially misstated

· MTSB appears to have created fictitious trading creditors and debtors to overstate purchases and sales

· MTSB appears to have financed the payment of fictitious trading creditors through bank debt and recycled the cash through other entities to appear that repayments were being made by fictitious trading debtors

· MTSB has grown its "trading" business over time but particularly in the 2007 financial year and at an increasing rate during the year

· The IA's site visits to the supposed trading locations of the trading debtors and creditors shows that they are fictitious

· Ultimately, all trading creditors were paid (payments were actually made to other parties than that shown in the accounts), allowing cash to be paid out of MTSB and the trading debtors remain outstanding and are unlikely to be collectible at all

· MTSB's payment of a deposit of RM211 million for 13 production lines also appears to be fictitious


The report implies that there are related party transactions which have not been disclosed

The report also set out a Net Realizable Value which indicates that MTSB has potential shortfall in assets of RM456 million. Further, value of MTSB's fixed assets of RM585 million requires further investigation and the realizable value is unknown.

The report refers to the current situation with regard to license fees due to Koninklijke Philips Electronics N.V. ("Philips") and the threat to the manufacturing of CD-R and DVD-R. The Company is in the midst of its endeavours to resolve the outstanding amounts due to Philips.

The IA has set the next steps which include further investigations to determine what has occurred. The final report from the IA is expected within 6-8 weeks.

The Company and Creditor Banks are meeting this week to discuss on the course of the investigation and the appropriate steps in terms of restructuring the Company.

The report indicates that MTSB has sufficient short term cash flow based on its current modus operandi. Further, the Board believes that with the cessation of its trading business, the Company can now focus on its legitimate manufacturing business. All business with respect to manufacturing is being carried out as normal and the Company is continuing to fulfill purchase orders from the manufacturing customers.

The Board will continue to update the shareholders on the progress of the investigation, its discussions with Creditor Banks and other critical matters relating to the business.

origen

＂· MTSB's payment of a deposit of RM211 million for 13 production lines also appears to be fictitious＂

这是blu－ray＆hd 新生产线吗？

piao2

应该不是。

看来megan今天没有恢复交易。。。。

[ 本帖最后由 piao2 于 7-6-2007 09:02 AM 编辑 ]

红青蜓

不是已经suspent了吗？？？

Mr.Business

应该是指Blu－ray＆hd新生产线

origen

＂The report also set out a Net Realizable Value which indicates that MTSB has potential shortfall in assets of RM456 million. Further, value of MTSB's fixed assets of RM585 million requires further investigation and the realizable value is unknown.＂
这里更坏，加上没有blu－ray＆hd 生产线，我们等缩阳吧。
也好，我们可以去吃了。

ee33

原帖由 LK-Park 于 7-6-2007 08:56 AM 发表
· Ultimately, all trading creditors were paid (payments were actually made to other parties than that shown in the accounts), allowing cash to be paid out of MTSB and the trading debtors remain outstanding and are unlikely to be collectible at all

最震撼的应该是这个吧！
全部欠债者已经付还，不是给MTSB而是给不知名的其他户口。
这也意味着所有欠款在没岸的户口依然没有被偿还，但看来已无法回收。

ee33

原帖由 LK-Park 于 7-6-2007 08:56 AM 发表
The report also set out a Net Realizable Value which indicates that MTSB has potential shortfall in assets of RM456 million. Further, value of MTSB's fixed assets of RM585 million requires further investigation and the realizable value is unknown.

这个也很惨，MEGAN的NTA到底是多少？？？

LK-Park

果然如传闻中的吃钱吃到傻。。

kitkatlow

哈哈！！！
uncle ho，你看到了吧。
我講的，大概就是這一個。

ee33

嘻嘻，安慰自己以下。。。
印度大兄发言了。。。
随着这起事件的揭发，公司将能专注在生产线的业务，所有客户的订单将会交货。。。
但是，缩阳看来是无法避免了。。。

[ 本帖最后由 ee33 于 7-6-2007 09:27 AM 编辑 ]

ee33

原帖由 LK-Park 于 7-6-2007 09:20 AM 发表
果然如传闻中的吃钱吃到傻。。

酱够力的一单，KAWAN MEGAN，我们采取法律行动吧！

jenefer

沒有保障，所有數目報告統統是騙人的，
投資者根本就是被騙嘛!!

阴谋师

果然是刻骨铭心的一战，终于都可以把Megan write off。

持股７年，不计算利息损失，总共亏损８７９３１。６２。

origen

包架飞机去中国抓yeo！

也顺便在这里和所有kawan megan 说不要泄气，希望大家重新出发。稍后请你们吃一餐！

江湖

The report also set out a Net Realizable Value which indicates that MTSB has potential shortfall in assets of RM456 million. Further, value of MTSB's fixed assets of RM585 million requires further investigation and the realizable value is unknown.

两块半我看所省无几。。。

[ 本帖最后由 江湖 于 7-6-2007 09:49 AM 编辑 ]

kitkatlow

哈哈！
何必稍后，馬上就來啦！