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GLBC On Other Exchanges
Symbol
Exchange
Kuala Lumpur
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global carriers bhd (GLBC) Snapshot

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EPS TTM
-1.19
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EX-Date
07/6/09
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Current Stock Chart for GLOBAL CARRIERS BHD (GLBC)

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global carriers bhd (GLBC) Details

Global Carriers Bhd, an investment holding company, engages in shipping management; and property investment and management businesses in Malaysia. Its Shipping segment owns ships, and offers shipping freight services. The company’s Property Investment segment is involved in the letting of properties. Its Shipping Management Services segment provides shipping and management services. Global Carriers Bhd provides its shipping freight services for liquid bulk through its Budi Mesra, Budi Mesra Dua, and Budi Ikhlas tankers. The company is headquartered in Kuala Lumpur, Malaysia.

global carriers bhd (GLBC) Top Compensated Officers

Executive Chairman, Deputy Chief Executive Of...
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Chief Financial Officer
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Head of Operations
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Head of Fleet Technical
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Compensation as of Fiscal Year 2015.

global carriers bhd (GLBC) Key Developments

Bursa Securities Resolves To Dismiss Global Carriers Berhad’s Appeal For An Extension Of Time To Submit Its Regularization Plan And Announces To Delist Securities From Official List

M&A Securities Sdn Bhd, on behalf of Global Carriers Berhad, announced that after due deliberation and having considered all the facts and circumstances of the matter including the written and oral representations of the company, Bursa Securities had vide its letter dated December 16, 2014, has resolved to: dismiss the company’s appeal for an extension of time until June 2015 to submit its regularization plan to the relevant authorities for approval; and de-list the securities of the company from the Official List of Bursa Securities pursuant to Paragraph 8.04 of the Main Market LR. In this circumstance, the securities of the company will be removed from the Official List of Bursa Securities upon the expiry of 2 market days from the date of this announcement that is on December 19, 2014. In arriving at the aforesaid decision, Bursa Securities had considered, amongst others, the following factors: since the first announcement on March 1, 2013 and as at December 11, 2014, the company has had approximately 22 months to submit its regularization plan; the company had failed to regularize the company’s financial condition in accordance with Paragraph 8.04 of the Main Market LR and Practice Note 17 (PN17); there was no reasonable justification to allow the extension of time in view of the following: the company was still in the negotiation with the white knight and had yet to execute a definitive agreement with the white knight, the proposed reverse take-over (RTO) was still very preliminary and hence, lacked certainty; and there was no material development or progress in respect of the finalization and/or submission of the company’s proposed regularization plan as well as lack of clarity/certainty in the regularization plan to address the business of the company and resolve all problems, financial or otherwise that had caused the company to trigger the PN17 criteria; in the opinion of Bursa Securities, adequate time and opportunity had been accorded to the company to regularize its financial condition since its first announcement on March 1, 2013. 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 anytime 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. 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, shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.

Global Carriers Bhd Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Global Carriers Bhd reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of MYR 7,964,075 compared to MYR 10,647,871 a year ago. Loss from operations was MYR 2,313,444 compared to MYR 5,404,429 a year ago. Loss before taxation was MYR 4,950,360 compared to MYR 8,428,649 a year ago. Loss attributable to equity holders of the parent was MYR 3,571,004 or 2.13 sen per basic share compared to MYR 5,506,617 or 3.29 sen per basic share a year ago. For the nine months, the company reported revenue of MYR 25,340,547 compared to MYR 20,392,903 a year ago. Loss from operations was MYR 2,158,253 compared to MYR 11,206,125 a year ago. Loss before taxation was MYR 182,917,175 compared to MYR 20,340,493 a year ago. Loss attributable to equity holders of the parent was MYR 181,114,293 or 108.16 sen per basic share compared to MYR 16,012,748 or 9.56 sen per basic share a year ago. Net cash from operating activities was MYR 21,014,857 compared to MYR 15,768,776 a year ago. Purchase of property, plant and equipment was MYR 10,599,889 compared to MYR 7,247,277 a year ago.

Global Carriers Bhd Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Global Carriers Bhd reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of MYR 8,043,472 compared to MYR 3,545,283 for the same period a year ago. Loss from operations was MYR 938,559 compared to MYR 4,232,962 for the same period a year ago. Profit before taxation was MYR 12,390,501 compared to loss before taxation of MYR 7,713,896 for the same period a year ago. Profit attributable to equity holders of the company was MYR 12,900,012 or 7.70 sen per basic share compared to loss attributable to equity holders of the company of MYR 6,308,183 or 3.77 sen per basic share for the same period a year ago. The revenue increase was mainly due to two vessels were on dry docking in the preceding year corresponding quarter. For the six months, the company reported revenue of MYR 17,376,472 compared to MYR 9,745,032 for the same period a year ago. Profit from operations was MYR 155,191 compared to loss from operations of MYR 5,801,696 for the same period a year ago. Loss before taxation was MYR 177,966,815 compared to MYR 11,911,844 for the same period a year ago. Loss attributable to equity holders of the company was MYR 177,530,700 or 106.02 sen per basic share compared to MYR 10,265,530 or 6.13 sen per basic share last year. Net cash flows from operating activities were MYR 9,059,794 compared to MYR 5,318,625 for the same period a year ago. Purchase of property, plant and equipment was MYR 195,517 compared to MYR 4,358,883 for the same period a year ago.

 

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