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PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT

WINTONI GROUP BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
MONTHLY ANNOUNCEMENT
Description
WINTONI GROUP BERHAD ("WINTONI" OR "THE COMPANY")

Reference is made to the Company’s announcements on 5 November 2019, 2 December 2019, 2 January 2020, 3 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 1 June 2020, 1 July 2020, 3 August 2020, 1 September 2020 , October 2020 and 2 November 2020 in compliance with GN3 of the Listing Requirements (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

The Company had on 27 November 2020, announced that its wholly owned subsidiary, Teampixel Sdn Bhd (“Teampixel”) entered into a strategic bulk purchase agreement (“Agreement”) with Nova Plastics Industries Sdn Bhd (“Nova”). Teampixel vide the Agreement will distribute and sell CHEMCO products (i.e. Polypropylene (PP) resin, Acrylonitrile Butadiene Styrene (ABS) resin and waste electrical & electronic equipment (WEEE) raw materials to Nova in Malaysia, Indonesia, Thailand and China through Teampixel’s business to business (B2B)e-commerce online platform with effect from 27 November 2020 for a period of three (3) years from the date of the Agreement. The Agreement shall widen the customer base of Teampixel and increase the revenue stream of Wintoni and its subsidiaries (“Group”), thereby enhancing the sustainability of the Group’s business.

 

Further to the Company’s announcement dated 30 November 2020 in respect of the resignation of the Company’s Sponsor, TA Securities Holdings Berhad, effective 1 December 2020, the Company had also on 30 November 2020 submitted an application of extension of time to Bursa Securities, to grant the Company up to four (4) months from 30 November 2020 to appoint a replacement Sponsor, and for Bursa Securities to grant the Company up to 30 June 2021 to submit its proposed regularisation plan to the relevant authorities for appoval. The Company shall proceed to make further announcement upon Bursa Securities reverting with a decision on the said applications.

 

Safe for the above, the Board wishes to inform that there is no material development on the regularisation plan and the GN3 status of the Company. The Board is currently in the midst of evaluating options available to formulate a plan to regularise its financial condition.

 

The Company currently has approximately one (1) month until 1 January 2021 to submit the Company’s proposed regularisation plan to the relevant authorities for approval.

 

This announcement is dated 1 December 2020.






Announcement Info

Company Name WINTONI GROUP BERHAD
Stock Name WINTONI
Date Announced 01 Dec 2020
Category General Announcement for PLC
Reference Number GA1-01122020-00081


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