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May 04, 2015 7:09 PM ET

Energy Equipment and Services

Company Overview of Vastalux Energy Berhad

Company Overview

Vastalux Energy Berhad does not have significant operations. Previously, it was involved in the provision of offshore and onshore hook-up and commissioning, and offshore topside and onshore facilities maintenance services; offshore and onshore minor fabrication works; and charter of marine vessels. The company was incorporated in 1995 and is based in Petaling Jaya, Malaysia.

Unit 621, Block A

6th Floor, Kelana Centre Point

No. 3 Jalan SS7/19

Kelana Jaya

Petaling Jaya,  47301

Malaysia

Founded in 1995

Phone:

60 3 7880 9699

Fax:

60 3 7880 8699

Key Executives for Vastalux Energy Berhad

Managing Director, Director and Chairman of Remuneration Committee
Age: 36
General Manager of Operations
Age: 46
Head of QA & QC
Age: 47
Joint Secretary
Joint Secretary
Compensation as of Fiscal Year 2014.

Vastalux Energy Berhad Key Developments

Vastalux Energy Berhad Receives Notice from Lee Hishamuddin Allen & Gledhill On-Going Negotiations with RHB Bank

Further to the announcement dated 23 July 2013, the Board of Directors of Vastalux Energy Berhad (VEB) informed that the company has received a notice pursuant to Section 218(2)(a) of the Companies Act, 1965 from Messrs Lee Hishamuddin Allen & Gledhill, the solicitors acting for RHB Bank Berhad ('RHB') demanding the balance sum due and owing under a judgement dated 17 February 2012 obtained by RHB in the Court of Malaya for a sum of RM623,302.46 as at 31 August 2013, together with interest accruing thereon at the rate of 3.5% per annum above RHB’s Base Lending Rate, on monthly rest, from 1 September 2013 until the date of full and final settlement and costs of MYR 1,000.00. VEB has been and is still having an on-going negotiations with RHB since the judgement was obtained, with a view to arrive at an amicable settlement of the matter. The Board of Directors of VEB has referred the matter to the Company’s solicitors and is seeking their advice on the Notice.

Vastalux Energy Berhad Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

Vastalux Energy Berhad announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported revenue of MYR 154,799 against MYR 154,799 a year ago. Profit before taxation was MYR 11,067 against loss before taxation of MYR 85,686 a year ago. Net profit was MYR 8,300 against net loss of MYR 64,264 a year ago. Net profit attributable to owners of the parent was MYR 8,300 against net loss of MYR 64,264 a year ago. For the period, the company reported revenue of MYR 309,598 against MYR 309,598 a year ago. Profit before taxation was MYR 32,330 against loss before taxation of MYR 175,727 a year ago. Net profit was MYR 24,247 against net loss of MYR 131,795 a year ago. Net profit attributable to owners of the parent was MYR 24,247 against net loss of MYR 131,795 a year ago. Basic earnings per share were 0.01 sen against basic loss per share of 0.06 sen a year ago. Net cash flows used in operating activities was MYR 22,853 against MYR 1,124 a year ago.

Vastalux Energy Berhad, Special/Extraordinary Shareholders Meeting, Aug 15, 2013

Vastalux Energy Berhad, Special/Extraordinary Shareholders Meeting, Aug 15, 2013.

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