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July 07, 2015 6:58 PM ET

Construction and Engineering

Company Overview of Bina Goodyear Bhd

Company Overview

Bina Goodyear Berhad, together with its subsidiaries, operates as a construction and building contractor in Malaysia. The company operates through Properties, Construction, and Construction Machinery and Equipment Rental segments. The Properties segment is involved in the development of properties. The Construction segment is engaged in the construction works and housing development activities. The Construction Machinery and Equipment Rental segment is involved in the rental of construction equipment and machinery. The company also provides property management services. Bina Goodyear Berhad is based in Petaling Jaya, Malaysia.

Phileo Damansara 2

Unit 502, Block B

No. 15 Jalan 16/11

Off Jalan Damansara

Petaling Jaya,  46350

Malaysia

Phone:

60 3 7960 2388

Fax:

60 3 7954 1353

Key Executives for Bina Goodyear Bhd

Managing Director and Executive Director
Age: 63
Chief Operating Officer
Executive Director
Age: 56
Joint Secretary
Joint Secretary
Compensation as of Fiscal Year 2015.

Bina Goodyear Bhd Key Developments

Bina Goodyear Bhd Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2014

Bina Goodyear Bhd announced unaudited consolidated earnings results for the fourth quarter and year ended June 30, 2014. For the quarter, the company's revenue was MYR 3.141 million. Operating loss was MYR 0.125 million compared with MYR 28.896 million a year ago. Loss before tax was MYR 0.367 million compared with MYR 26.319 million a year ago. Loss attributable to equity holders of the parent was MYR 0.427 million or 0.84 sen per basic share compared with loss of MYR 26.205 million or 51.50 sen per basic share a year ago. The loss before tax in this quarter under review is mainly a result of recognising certain operating and administrative expenses for the year, whereas the profit before tax in the corresponding quarter in the previous financial year was attributed to a reversal of FRS 139 adjustments mainly in respect of the impairment of retention sums. For the full year, the company's revenue was MYR 3.750 million compared with MYR 86.795 million a year ago. Operating profit was MYR 4.842 million compared with loss of MYR 124.421 million a year ago. Profit before tax was MYR 3.993 million compared with loss of MYR 125.253 million a year ago. Profit attributable to equity holders of the parent was MYR 3.933 million or 7.73 sen per basic share compared with loss of MYR 125.236 million or 246.14 sen per basic share a year ago. Net cash used in operating activities was MYR 1.911 million against net cash generated from operating activities of MYR 8.738 million a year ago.

Bina Goodyear Bhd Receives A Suspension And Delisting Notice From Bursa Malaysia Securities Berhad

The Board of Directors of Bina Goodyear Bhd (BGB) announced that the Company has received a suspension and delisting notice dated August 4, 2014 from Bursa Malaysia Securities Berhad ("Bursa Securities") wherein Bursa Securities has noted that BGB had submitted a proposed regularization plan to Bursa Securities for approval on March 17, 2014 and Bursa Securities had vide its letter dated August 4, 2014 rejected the Company's proposed regularization plan. In the circumstances and pursuant to Paragraph 8.04(5) of the Main Market Listing Requirements of Bursa Securities: a) the trading in the securities of the Company will be suspended with effect from August 12, 2014; and b) the securities of the Company will be de-listed on September 8, 2014 unless an appeal against the rejection of the regularization plan and de-listing is submitted to Bursa Securities on or before September 3, 2014 ("the Appeal Timeframe"). Any appeal submitted after the Appeal Timeframe will not be considered by Bursa Securities. In the event the Company submits an appeal to Bursa Securities within the Appeal Timeframe, the removal of the securities of the Company from the Official List of Bursa Securities on September 8, 2014 shall be deferred pending the decision on the Company's appeal. With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository. Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at any time after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organization of Bursa Securities and/or Bursa Securities' General Line at 03-2034 7000 for further information on the withdrawal procedures. Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the Company's performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities. The Board will deliberate on the next course of action and will make the relevant announcement in due course.

Signature Cabinet Sdn Bhd Withdraws Case against Bina Goodyear Bhd

The Board of Directors of Bina Goodyear Bhd announced that at the case management held on 07 July 2014, the Signature Cabinet Sdn Bhd withdrew their case against the company with liberty to file afresh.

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