All Comments on BINTAI Reload

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M KFooD
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lets see how the going...Repayment of bank borrowings
The Company has been classified as an affected listed issuer pursuant to PN17 of the
Listing Requirements since 29 March 2023 following a default in payment by OPM, a
wholly-owned subsidiary of the Company, for Islamic banking facilities granted by
MBSB for an amount of RM109 million (“Islamic Banking Facilities”).
Since then, the Group’s other banking facilities have either been cancelled or
suspended, thus putting the Group’s cash flow under severe strain. As at 31 December
2023, the total outstanding amount of the Group’s borrowings stood at RM147.5 million.
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Mohd Qadri
cepat @ lambat akan terbang
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Eddy Khoo
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as of 31st Dec 2023, term loan with MBSB was RM118.5 mil and KTIMB owing OPM RM58.6 mil. Concessions period remaining around 17 years with annual fee of around RM13.1 mil, subject to 5 years review of not less than 13% adjustment to the annual fee. As per 31st Dec 2023, concession receivables value at RM114.3 mil. Any offered below rm290 mil for 100% stake in OPM would result in losses to Bintai.
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M KFooD
118.5 is liability OPM. receivables 58.6+ 114.3= 172. 9 then. ...emmm the true value then 290...rite
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Eddy Khoo
I don't think KTIMB would have such financial strength to acquire OPM with RM290 mil cash. most probably they may swap with Melaka Gov lands and takeover the outstanding loans with MBSB. Imagine if they offer a rm200 mil lands swap, would it help Bintai? Bintai would still face cash flow and operational expenses challenges. You can't liquidate land easily for cash.
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M KFooD
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29 Jan 24. Terms of the ISP are as follows:

Immediate payment of RM 1.5 million to OPM (“First Payment”) by 30 January 2024.

6 monthly installment of RM 250,000 per month from January to June 2024. (“Second to Seventh Payment”)

That KTIMB agrees to conclude with OPM by 31 May 2024 with one of the three following solutions:

- the termination of the CA, or
- KTIMB or designate, to the takeover OPM at an agreed valuation, or
- the restructuring of the concession debts outstanding as well as the
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M KFooD
...Interim Settlement Proposal ISP with respect to the default of RM58.6 million owing by Kolej Teknologi Islam Melaka Berhad as at December 2023. Negotiations with KTIMB are ongoing and the deadline to resolve the outstanding debt repayment issue under the Concession Agreement is 31 May 2024.
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Eddy Khoo
as long as no amount of OPM valuation been announced, market won't see it as good news yet. OPM can be acquired with discount and cause losses to Bintai. we never know.
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Don Don Sin
18 Like · Reply
那些曾经大声说bintai GG,bintai 完了,bintai bla bla bla的人,在bintai 跌的时候写一堆那么感人的comment。那么BINTAI 起回去1块时候记得站出来!不要跌就踩,涨了就消失!
Teh o Ice
Bintai gogogo
3 Like · 3 years · translate
Dickson Choo
真的完了吗?gg gogogoogogo
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Mohd Qadri
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Today is monday
Hadyan Zahar
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extend 6 month untul september 2024, why no emoji T_T
M KFooD
hahaà....expected last minute EOT...BKCB (“Board”) wishes to update that the Company had on 26 March 2024 submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time of an additional period of 6 months until 29 September 2024 for the Company to submit its regularisation plan to Bursa Securities ("EOT Application").
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1 Like · 3 weeks · translate
Hadyan Zahar
more time to put some money in it
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M KFooD
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25/3..updated...Are they Bintai in a good financial position?

They have sufficient cash for at least 1 year of operations

simplywall.st analysis
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M KFooD
bintai seems doing her best to mitigate debt and recovery debt ...and she doing quite good on restructuring and strong comeback. Regularization Plan looks to be on positive side .....
Like · 4 weeks · translate
Mohd Qadri
no news is a good news
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M KFooD
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bintai fly soon
Eddy Khoo
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final week to submit regularization plan or application for extension.
Eddy Khoo
to the directors they still own the company even if delisted. delisting is usually bad for retailers and minority shareholders.
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M KFooD
yeeah true Eddie u rite
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Mohd Qadri
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today is monday
M KFooD
what about it then???? so wht is to look forward...same day every day... bintai tired stalemate not moving
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