【KHEESAN 6203 交流专区】奇新

icy97

奇新发新股购食品行销-华光企业将成主要股东
https://www.enanyang.my/news/20190912/奇新发新股购食品行销-br华光企业将成主要股东/

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	KHEE SAN BERHAD ("THE COMPANY" OR "KSB")HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF THE EQUITY INTEREST IN ANY OF THE FOLLOWING COMPANIES ("HOA"):-(I) MOMENTUM STRIKE SDN BHD;(II) YEW FATT MARKETING SDN BHD;(III) YFM DISTRIBUTORS SDN BHD; AND/OR(IV) HC HIN MARKETING SDN BHD
The Board of Directors of KSB (“Board”) wishes to announce that the Company had on 11 September 2019, entered into a HOA with Wah Kong Corporation Sdn Bhd (“Vendor”) to negotiate on the proposed acquisition of the equity interest in any of the following subsidiary companies of the Vendor (“Proposed Acquisition”):- (i) Momentum Strike Sdn Bhd; (ii) Yew Fatt Marketing Sdn Bhd; (iii) YFM Distributors Sdn Bhd; and/or (iv) HC Hin Marketing Sdn Bhd. Please refer to the attachment below for further details of the Proposed Acquisition. This announcement is dated 11 September 2019.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6281421

Attachments HOA - Proposed Acquisition.pdf

icy97

KHEE SAN BERHAD

Date of change	13 Sep 2019
Name	DATO' SRI LIEW YEW CHUNG
Age	49
Gender	Male
Nationality	Malaysia
Designation	Chairman
Directorate	Non Independent and Non Executive
Type of change	Resignation
Reason	Dato Sri Liew Yew Chung ("DSLYC") is being treated for Burn-Out Stress Syndrome (BOSS), an illness which has affected his capabilities to discharge his duties at Khee San Berhad ("KSB").  Due to this and on advice of the Board, a succession plan has been adopted and DSLYC is relinquishing his roles on the Board of KSB and its subsidiary companies with immediate effect.

icy97

投资者冷待·奇新迎“白武士”等待曙光
https://www.sinchew.com.my/content/content_2117164.html

与中国银行闹得不欢而散的糖果公司——奇新（KHEESAN,6203,主板消费产品服务组），上周宣布将迎来“白武士”，可惜市场对此反应冷淡。

上周，奇新和Wah Kong机构签下框架协议（HOA），计划发售每股33仙新股收购Wah Kong机构的4家公司，包括Momentum Strike公司、Yew Fatt行销公司、YFM分销公司和HC Hin行销公司，这些公司主要涉及宠物食品、家庭用品和消费品经销业务。

若交易完成，Wah Kong机构将成为奇新大股东，持股也触及33%全面献购门槛，计划以每股33仙收购该公司剩余股权。目前，尚不确定Wah Kong机构是否有意保持奇新的上市地位。

奇新表示，新收购公司的业务预计将与该公司现有糖果及相关食品业务形成互补和协同效应，而Wah Kong机构也提供2020年约600万令吉的盈利担保。

纵使奇新顺利通过上述计划解决业务问题，如何加强财务依然是一大挑战。不久前，奇新旗下的食品臂膀奇新食品工业才接到中国银行追讨1461万令吉欠款和利息的传票。

当时，该公司强调，早在7月收到付款通知书时，就已经积极洽商重组贷款，谁料中国银行发出传票后，却在双方会面时三缄其口，误导了该公司，而律师也相信该公司有良好的理据抗辩，建议该公司向银行监管机构投诉中国银行的违规行为。

该公司表示，正聘请财务顾问和投资银行家探讨重组债务。

该公司宣布“白武士”计划隔天，股价不起反跌，下滑1.5仙或4.69%，收报30.5仙，成交量达1832万7200股，显见投资者依然抱持悲观态度，大股东和管理层还需要多加一把力才行。


文章来源 ： 星洲日报 2019-09-16

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2019	30 Sep 2018	30 Sep 2019	30 Sep 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	18,543	0	120,282	0
2	Profit/(loss) before tax	-44,132	0	-42,848	0
3	Profit/(loss) for the period	-44,654	0	-44,003	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	-44,654	0	-44,003	0
5	Basic earnings/(loss) per share (Subunit)	-42.94	0.00	-42.31	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.9700		1.2600

icy97

Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) COMBINATION OF NEW ISSUE OF SECURITIES
Description	KHEE SAN BERHAD ("KSB" OR THE "COMPANY")(I)        PROPOSED SUBSCRIPTION; AND(II)        PROPOSED RIGHTS ISSUE(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
On behalf of the Board of Directors of KSB (“Board”), UOB Kay Hian Securities (M) Sdn Bhd (“UOBKH”) wishes to announce that the Company proposes to undertake the following:- a private placement of 94,000,000 new ordinary shares in KSB (“KSB Share(s)”), representing approximately 45.11% of the total enlarged issued KSB Shares to Mamee-Double Decker (M) Sdn Bhd (“Proposed Subscription”); and a renounceable rights issue of 208,400,000 new KSB Shares (“Rights Share(s)”) on the basis of 1 Rights Share for every 1 existing KSB Share held on an entitlement date to be determined and announced later after the completion of the Proposed Subscription (“Proposed Rights Issue”). Further details of the Proposals are set out in the attachment. This announcement is dated 2 December 2019.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3006914

Attachments KSB - Announcement (2 Dec 2019).pdf

icy97

Notice of Person Ceasing (Section 139 of CA 2016)

KHEE SAN BERHAD

Particulars of Substantial Securities Holder

Name	LONDON BISCUITS BERHAD
Address	NO 1, JALAN ISTIMEWA 2. TAMAN PERINDUSTRIAN DESA CEMERLANG, ULU TIRAM, JOHOR BAHRU 81800 Johor Malaysia.
Company No.	198101005941 (72057-H)
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	Ordinary Shares
Date of cessation	29 Nov 2019
Name & address of registered holder	LONDON BISCUITS BERHADNO 1, JALAN ISTIMEWA 2,TAMAN PERINDUSTRIAN DESA CEMERLANG,81800 ULU TIRAM.JOHOR BAHRU, JOHOR

No of securities disposed	20,800,000
Circumstances by reason of which a person ceases to be a substantial shareholder	Disposal of shares via open market
Nature of interest	Direct Interest
Date of notice	04 Dec 2019
Date notice received by Listed Issuer	04 Dec 2019

icy97

KHEE SAN BERHAD

Particulars of substantial Securities Holder

Name	DATO' DR NG MENG KEE
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	Ordinary Shares

Details of changes

No	Date of change	No of securities	Type of Transaction	Nature of Interest
1	16 Dec 2019	500,000	Acquired	Direct Interest
	Name of registered holder	DATO DR. NG MENG KEE
	Address of registered holder	29, JALAN ANGGERIK MOKARA 31/47 KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR
	Description of "Others" Type of Transaction
2	19 Dec 2019	69,300	Acquired	Direct Interest
	Name of registered holder	DATO DR. NG MENG KEE
	Address of registered holder	29, JALAN ANGGERIK MOKARA 31/47 KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR
	Description of "Others" Type of Transaction
3	19 Dec 2019	69,300	Disposed	Direct Interest
	Name of registered holder	DATO DR. NG MENG KEE
	Address of registered holder	29, JALAN ANGGERIK MOKARA 31/47 KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR
	Description of "Others" Type of Transaction
4	24 Dec 2019	4,000,000	Disposed	Direct Interest
	Name of registered holder	DATO DR. NG MENG KEE
	Address of registered holder	29, JALAN ANGGERIK MOKARA 31/47 KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR
	Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred	Acquisition and Disposal of shares via Open Market
Nature of interest	Direct Interest
Direct (units)	8,500,000
Direct (%)	7.43
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Total no of securities after change	8,500,000
Date of notice	27 Dec 2019
Date notice received by Listed Issuer	27 Dec 2019

icy97

KHEE SAN BERHAD

Particulars of substantial Securities Holder

Name	DATO' DR NG MENG KEE
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	Ordinary Shares

Details of changes

No	Date of change	No of securities	Type of Transaction	Nature of Interest
1	30 Dec 2019	2,500,000	Disposed	Direct Interest
	Name of registered holder	DATO' DR. NG MENG KEE
	Address of registered holder	29, JALAN ANGGERIK MOKARA 31/47 KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR
	Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred	Disposal of Shares via Open Market
Nature of interest	Direct Interest
Direct (units)	6,000,000
Direct (%)	5.245
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Total no of securities after change	6,000,000
Date of notice	03 Jan 2020
Date notice received by Listed Issuer	03 Jan 2020

icy97

KHEE SAN BERHAD

Particulars of substantial Securities Holder

Name	DATO' DR NG MENG KEE
Nationality/Country of incorporation	Malaysia
Descriptions (Class)	ORDINARY SHARES

Details of changes

No	Date of change	No of securities	Type of Transaction	Nature of Interest
1	12 Feb 2020	284,400	Disposed	Direct Interest
	Name of registered holder	DATO' DR. NG MENG KEE
	Address of registered holder	29, JALAN ANGGERIK MOKARA 31/47, KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR.
	Description of "Others" Type of Transaction
2	14 Feb 2020	1,950,500	Disposed	Direct Interest
	Name of registered holder	DATO' DR. NG MENG KEE
	Address of registered holder	29, JALAN ANGGERIK MOKARA 31/47, KOTA KEMUNING, SEKSYEN 31, 40460 SHAH ALAM, SELANGOR.
	Description of "Others" Type of Transaction

Circumstances by reason of which change has occurred	DISPOSALS OF SHARES VIA OPEN MARKET
Nature of interest	Direct Interest
Direct (units)	7,765,100
Direct (%)	6.788
Indirect/deemed interest (units)	0
Indirect/deemed interest (%)	0
Total no of securities after change	7,765,100
Date of notice	17 Feb 2020
Date notice received by Listed Issuer	17 Feb 2020

icy97

Change in Financial Year End

KHEE SAN BERHAD

Old financial year end	31 Dec 2019
New financial year end	30 Jun 2020

Remarks :

The Board of Directors of Khee San Berhad (KSB) wishes to announce that KSB has changed its financial year end (FYE) from 31 December to 30 June and the financial statements will be from 1 January 2019 to 30 June 2020 (18 months). KSB's FYE  shall end on 30 June thereafter. The rational is to reflect a more accurate and transparent financial results due to the current restructuring exercise & to enable the Management & external auditors to have adequate time to finalise the financial statements.

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		Three Months	Three Months	Twelve Months	Twelve Months
		01 Oct 2019 To	01 Oct 2018 To	01 Jan 2019 To	01 Jan 2018 To
		31 Dec 2019	31 Dec 2018	31 Dec 2019	31 Dec 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	9,059	0	129,350	0
2	Profit/(loss) before tax	-31,691	0	-74,530	0
3	Profit/(loss) for the period	-32,497	0	-76,491	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	-32,497	0	-76,491	0
5	Basic earnings/(loss) per share (Subunit)	-28.51	0.00	-67.10	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.6600		1.2600

icy97

icy97 发表于 22-3-2020 02:57 AM
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3006914

Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) COMBINATION OF NEW ISSUE OF SECURITIES
Description	KHEE SAN BERHAD ("KSB" OR THE "COMPANY")(I) PROPOSED SUBSCRIPTION; AND(II) PROPOSED RIGHTS ISSUE(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
We refer to the announcements dated 2 December 2019, 18 December 2019 and 6 January 2020 in relation to the Proposals. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein. On behalf of the Board, UOBKH wishes to announce that the period to satisfy the Conditions Precedent under the Subscription Agreement has lapsed, and the Parties have mutually agreed not to extend the Cut-Off Date. Pursuant thereto, the Subscription Agreement has effectively terminated and neither Party shall have any claim against the other. The Board will continue to evaluate other suitable proposals from third parties to strengthen the overall financial position of the Group. This announcement is dated 3 June 2020.

pts2222

https://www.theedgemarkets.com/a ... eeks-rm114m-damages

icy97

KHEE SAN BERHAD

Date of change	24 Jun 2020
Name	MR NG CHEE KEONG
Age	49
Gender	Male
Nationality	Malaysia
Type of change	Appointment
Designation	Others

Qualifications

No Qualifications Major/Field of Study Institute/University Additional Information 1 Degree Law Bond University, Australia LLB
Working experience and occupation	Mr Ng Chee Keong has over 20 years of experience as a lawyer and graduated in 1995 with a Bachelor of Laws from Bond University, Australia.  He was called to the Malaysian Bar in 1996.Currently, he has been appointed as the Deputy CEO (Legal, Compliance, Internal Controls and Corporate Governances) of Khee San Berhad.
Directorships in public companies and listed issuers (if any)	REVENUE GROUP BERHAD1) Independent Non-Executive Director2) Chairman of Remuneration Committee 3) Member of Audit and Risk Management Committee 4) Member of Nomination Committee
Family relationship with any director and/or major shareholder of the listed issuer	NIL
Any conflict of interests that he/she has with the listed issuer	NIL
Details of any interest in the securities of the listed issuer or its subsidiaries	YES (32,000 Ordinary Shares)

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2020

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		Three Months	Three Months	Fifteen Months	Fifteen Months
		01 Jan 2020 To	01 Jan 2019 To	01 Jan 2019 To	01 Jan 2018 To
		31 Mar 2020	31 Mar 2019	31 Mar 2020	31 Mar 2019
		$$'000	$$'000	$$'000	$$'000

1	Revenue	9,380	0	138,730	0
2	Profit/(loss) before tax	-34,304	0	-108,836	0
3	Profit/(loss) for the period	-34,576	0	-111,069	0
4	Profit/(loss) attributable to ordinary equity holders of the parent	-34,576	0	-111,069	0
5	Basic earnings/(loss) per share (Subunit)	-30.33	0.00	-97.43	0.00
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.3300		1.2600

cc1357

谢谢大大提供的资讯

icy97

Type	Announcement
Subject	OTHERS
Description	KHEE SAN BERHAD ("THE COMPANY" OR "KSB")                 - DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD - DEFAULT IN PAYMENT TO CREDITOR BANKS
1.        Introduction                         The Board of Directors of the Company wishes to announce that the Company had on 3 July 2020 received letters of demand (“LOD”) sent by Messrs. Shook Lin & Bok, solicitors representing its client, OCBC AL-AMIN BANK BERHAD (“OCBC”) on Khee San Food Industries Sdn Berhad (“KSFI”) and KSB. OCBC’s claim against KSFI and KSB (by virtue as a Guarantor of KSFI) are as follows : a) IMBT TF-i amounting to RM722,292.94 as at 31 May 2020; b) Trade-i facility amounting to RM4,237,735.62 (with late payment charges) as at 31 May 2020;              Interests on the sum of :- c)   RM722,292.94 at the rate of 1.00% per annum on a non-compounding basis at a daily weighted  average for overnight rate of the Mudharabah interbank investment at the Islamic Interbank Money Market (“Average IIMM Rate”) on the outstanding balance after the maturity of the facility and/or at the rate and in the manner endorsed by the Shariah Advisory Council of Bank Negara Malaysia; and d)  RM4,237,735.62 (with late payment charges) on a non-compounding basis at Average IIMM Rate on the outstanding principal amount from 1 June 2020 until the date of full payment and/or at the rate and in the manner endorsed by the Shariah Advisory Council of Bank Negara Malaysia. The Company has also other defaults in relation to various other facilities with other Creditor Banks which are summarised as follows: No. KSB’s Creditor Banks Outstanding Amt & type of facilities as at 31/3/2020 (RM mil) Bankers’ Acceptance Overdraft TOTAL 1. HSBC Bank              16.5              1.0           17.5 2. Bank of China              14.2              2.1           16.3 3. UOB                5.2              2.7             7.9 4. Maybank                5.3              1.0               6.3 5. CIMB Bank                4.4              1.0             5.4 6. OCBC Bank*                8.3                -             8.3 7. Standard Chartered Bank                7.5                -             7.5 8. Alliance Bank                4.3                -             4.3 TOTAL              65.7              7.8           73.5 * Including OCBC conventional loan of RM 4.2mil. 2.        The date of the default in payment.                The date of the default of payment for the above creditor banks was three (3) months from the date falling due of the respective facilities. 3.        The reasons for the default in payment.                      The Company at the material time of defaults had intended to make repayments for the facilities to the respective Creditor Banks but the funds earmarked for these repayments were then channelled to the then-holding company of the Company, London Biscuit Berhad (“LBB”). LBB had been wound up on 13 January 2020 with Messrs PriceWaterhouseCoopers Advisory Services Sdn Bhd appointed as a liquidator.  The Company had since filed a Proof of Debt (“POD”) to reclaim these monies which are due and payable to the Company.  The recovery process is currently on going. At the same time, the Company had held various discussion with the creditor banks and is currently formulating a new corporate proposal to address the balance outstanding which is to be determined. Despite that, The Company had held various discussions with the Creditors Banks, including OCBC and intended to restructure the banking facilities through a previously announced corporate exercise which entailed a Subscription Issue and Rights Issue as announced on 2 December 2019 and 6 January 2020.  However, given the departure of the previous subscriber as per the announcement on 3 June 2020, the proposed settlement efforts had lapsed, resulting the Company in this default in payment position. 4.        The measures by the listed issuer to address the default in payment.    Despite the termination of the earlier corporate proposal as per announcement dated 3 June 2020, the Company is putting together a new corporate proposal with other potential investors, which shall be in line with the previous proposals.  This new proposal shall holistically address the outstanding balances that is recognised by the Company with all its Creditor Banks as well as other Trade and Non-Trade Creditors, including raising additional working capital to further strengthen the Company cash flow position.  The Company expects to make the requisite announcement in the coming weeks once the proposal is finalised. 5.        The legal implications of the default in payment including the extent of the listed issuer’s liability in respect of the obligations incurred under the agreements for the indebtedness.    KSB’s Solicitor, Messrs Krish Maniam & Co. is in the midst of finalising proceedings, legal and/or otherwise, against the Creditor Banks for various alleged breaches.  Pursuant thereto, the Company will make a formal claim against the respective Creditor Banks. In lieu of the forthcoming proceeding, the Company had engaged the services of the forensic team from BDO Governance Advisory Sdn Bhd as announced on 25 June 2020 to ascertain the true picture of these transactions, and will take appropriate actions if there were in fact elements of discrepancies, which will help to substantiate the Company’s position in the proceeding that is to be initiated. 6.        The business, financial and operational impact of the default in payment on the listed issuer.               The Company wishes to reaffirm that it has sufficient working capital to manage its current operations, as well as payment obligation to its Trade Creditors.  The Company is of the view that there shall be no significant impact on the business, both financially and operationally with inclusion of the corporate proposal which is currently being formulated.  In the meantime, the Group shall endeavour to engage with all its Creditors for their continuous support. 7.        In the event the default in payment is in respect of secured loan stocks or bonds, the lines of action available to the guarantors or security holders against the listed issuer.                              Not applicable. 8.        In the event the default in payment is in respect of payments under a debenture, to specify whether the default in payment will empower the debenture holder to appoint a receiver or receiver and manager. All Creditor Banks are unsecured and stand pari passu with all other Creditors listed in the Company. 9.        Whether the default in payment constitutes an event of default under a different agreement for indebtedness (cross default) and the details for such other default, where applicable.                        Not applicable.       10.      Where the default in payment is in respect of a subsidiary or associated company, a confirmation as to whether the subsidiary or associated company is a major subsidiary or major associated company, as the case may be.                  KSFI is a wholly-owned and major subsidiary of the Company.    11.      Where the default in payment is in respect of a listed issuer, major subsidiary or major associated company, as the case may be, a statement as to whether the listed issuer is solvent. Notwithstanding the above default, the Company is of the view that it is still solvent as its current cashflow position is healthy with sufficient working capital to support its operations going forward. This announcement is dated 6 July 2020.

icy97

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-07072020-00001
Subject	KHEE SAN BERHAD ("THE COMPANY" OR "KSB") DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MAIN LR")DEFAULT IN PAYMENT TO CREDITOR BANKS
Description	KHEE SAN BERHAD ("THE COMPANY" OR "KSB")- DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MAIN LR") DEFAULT IN PAYMENT TO CREDITOR BANKS
Query Letter Contents	We refer to your Company’s announcement dated 6 July 2020, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- Table of list of defaults - to include: (i) Total default amount for respective default; (ii) Date of defaults to each creditor banks; and (ii) Date of announcement of the respective default and full details of the default in accordance to Paragraph 9.19A of the MAIN LR. In relation to the channelling of funds earmarked for repayment to London Biscuits Berhad (the then holding company), kindly provide the following: (i) The actual amount of funds involved; (ii) The rationale of the transactions; (iii) To provide a confirmation or commentary on whether this is in full compliance with Paragraph 8.23 and Paragraph 10.08 of the MAIN LR; (iv) To explain in details actions taken by the Board of Directors, if any, on the channelling of fund including the outcome; and (v) To confirm whether the engagement of BDO Governance Advisory Sdn Bhd, as announced on 25 June 2020, also covers the above matter. To reassess the Company’s statement that ‘it is still solvent as its current cashflow position is healthy with sufficient working capital to support its operations going forward’ in view of the following: (i) The total default amount of RM73.5 million based on the current position; and (ii) Without the inclusion of the corporate proposal which the Company claimed is currently being formulated.
We refer to the query from Bursa Malaysia Securities Berhad via their letter dated 7 July 2020 (Ref No : IQL-07072020-00001) in relation to the announcement made by the Company on 6 July 2020 pertaining to Default in Payment pursuant to Paragraph 9.19A of the Main Market Listing Requirements Of Bursa Malaysia Securities Berhad ("Main Lr") - Default In Payment to Creditor Banks 1) Table of List of Defaults i) Total default amount for respective default; ii) Date of defaults to each creditor banks; and The default dates and amounts for question 1 and 2 for each Bankers acceptance, are as per below:- No Banks Bankers’ Acceptance Date of Default for BA 1. HSBC Bank 16.5 10/05/2019 – 15/08/2019 2. Bank of China 14.2 23/04/2019 – 08/08/2019 3. UOB 5.2 19/04/2019 – 09/08/2019 4. Maybank 5.3 26/04/2019 – 13/09/2019 5. CIMB Bank 4.4 20/05/2019 – 19/08/2019 6. OCBC Bank* 8.3 16/04/2019 – 30/07/2019 7. Standard Chartered Bank 7.5 24/05/2019 – 05/08/2019 8. Alliance Bank 4.3 03/05/2019 – 30/08/2019 TOTAL 65.7 * Including OCBC conventional loan of RM 4.2mil. iii) Date of announcement of the respective default and full details of the default in accordance to Paragraph 9.19A of the MAIN LR. The announcements were made prior as and when the legal notices were received and informed to the Board of Directors. 2) In relation to the channelling of funds earmarked for repayment to London Biscuits Berhad (the then holding company), kindly provide the following: (i) The actual amount of funds involved; (ii) The rationale of the transactions; For question i and ii above, the actual amount of funds involved is RM53,805,067.07 and these are treated as trades and purchases. (iii) To provide a confirmation or commentary on whether this is in full compliance with Paragraph 8.23 and Paragraph 10.08 of the MAIN LR; The Board of Directors is of the opinion that the above-mentioned transactions are not subject to Paragraph 8.23 of MAIN LR as per the records as it’s trading in nature. As for Paragraph 10.08 of the MAIN LR, the transactions were under recurrent related party transactions (“RRPTs””) of which the RRPTs were within the limit as per the RRPTs mandate approved by the shareholders during the Annual General Meeting of the Company held on 28 June 2019.                           (iv) To explain in details actions taken by the Board of Directors, if any, on the channelling of fund including the outcome; and The Company has officially filed a proof of debt (“PoD”) on 26th February 2020 with PWC Advisory (the liquidator of London Biscuit Berhad) to claim the said monies. The liquidation process is currently on-going. (v) To confirm whether the engagement of BDO Governance Advisory Sdn Bhd, as announced on 25 June 2020, also covers the above matter. Yes exactly. 3) To reassess the Company’s statement that ‘it is still solvent as its current cashflow position is healthy with sufficient working capital to support its operations going forward’ in view of the following: (i) The total default amount of RM73.5 million based on the current position; and (ii) Without the inclusion of the corporate proposal which the Company claimed is currently being formulated. The current cashflow position does not include item i & ii above. The reason for this is that the sums claimed by the creditor banks are in dispute and the company was unable to resolve it through discussions and hence has no option but to appoint BDO Advisory to do an evaluation and assessment, failing the company will refer the same to court for finalisation. Once finalised, the settlement figure shall be encompassed in the forthcoming corporate exercise. This announcement is dated 8 July 2020.

icy97

KHEE SAN BERHAD

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-09072020-00001
Subject	KHEE SAN BERHAD ("THE COMPANY") DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (MAIN LR)DEFAULT IN PAYMENT TO CREDITOR BANKS
Description	KHEE SAN BERHAD ("THE COMPANY" OR "KSB")- DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MAIN LR") DEFAULT IN PAYMENT TO CREDITOR BANKS
Query Letter Contents	We refer to your Company’s announcement dated 8 July 2020, in respect of the aforesaid matter. Based on our review, we note that the Company had announced 3 defaults in payment pursuant to Paragraph 9.19A of the Main LR as follows:- No Banks Default Amount (RM million) Date of Announcement pursuant to Paragraph 9.19A of the Main LR 1. Bank of China 14.6 8/8/2019 2. OCBC Al-Amin Bank Berhad 5.0 6/7/2020 3. Alliance Bank 4.7 25/6/2020 As such, please make the necessary immediate announcement for the following defaults in accordance to Paragraph 9.19A of the Main LR. No Banks Bankers’ Acceptance and Overdraft (RM million) Date of Default 1. HSBC Bank 17.5 10/5/2019 – 15/8/2019 2. UOB 7.9 19/4/2019 – 9/8/2019 3. Maybank 6.3 26/4/2019 – 13/9/2019 4. CIMB Bank 5.4 20/5/2019 – 19/8/2019 5. OCBC Bank (conventional loan) 4.2 16/4/2019 – 30/7/2019 6. Standard Chartered Bank 7.5 24/5/2019 – 5/8/2019
We refer to the query from Bursa Malaysia Securities Berhad via their letter dated 9 July 2020 (Ref No : IQL-09072020-00001) in relation to the announcement made by the Company on 6 July 2020 pertaining to Default in Payment pursuant to Paragraph 9.19A of the Main Market Listing Requirements Of Bursa Malaysia Securities Berhad ("Main Lr") - Default In Payment to Creditor Banks. In response to Bursa Securities’ letter dated 9 July 2020, the Board of Directors of Khee San Berhad (“KSB” or “the Company”) wishes to announce that the Company had several other Default in Payments pertaining to the facilities with Creditor Banks’, in addition to three (3) earlier announcements on Default in Payments with Bank of China (announced on 8 August 2019), Alliance Bank (M) Bhd (announced on 25 June 2020), and OCBC Al-Amin Bank (announced on 6 July 2020). The details of other default in Payments with other Creditor Banks are as follows : No. Banks BA facilities (RM mil) OD facilities (RM mil) Total facilities (RM mil) Dates of Default 1. HSBC Bank 16,519,000 1,040,938 17,559,938 10/5/2019 – 15/8/2019 2. Standard Chartered 7,541,146 7,541,146 24/5/2019 – 5/8/2019 3. Maybank 5,279,384 1,041,313 6,320,698 26/4/2019 – 13/9/2019 4. UOB Bank 5,209,000 2,707,772 7,916,772 19/4/2019 – 9/8/2019 5. OCBC Bank 4,236,000 4,236,000 16/4/2019 – 30/7/2019 6. CIMB Islamic Bank 4,415,005 1,031,123 5,446,128 20/5/2019 – 19/8/2019 TOTAL FACILITIES ON RECORD* 43,199,535 5,821,146 49,020,681 * This figures are subject to be ascertained in due course The Company wishes to reiterate that the Company has discovered numerous potential irregularities and potential discrepancies in the supporting documents used pursuant to the draw down of these facilities as well as the usage of these funds.   This is further compounded by the fact that the then-holding company, London Biscuits Bhd (“LBB”) owes the Company approximately RM54 million, which was also brought to the attention of the Creditor Banks.  Some Creditor Banks are reluctant to respond as they are refuting certain facts as they are also involved in the LBB liquidation exercise. The Company has engaged the services of Messrs BDO Governance Advisory Sdn Bhd on 25 June 2020 to undertake a forensic evaluation and assessment on the draw down documents pertaining to these transactions, as well as the funds remittance.  As such, the Company will initiate formal claim and legal avenue against these perpetrators should KSB discovers instances of irregularities and breaches, which include seeking appropriate legal remedies against the Creditor Banks. Therefore, the Company holds the position firmly that it is premature, at this juncture, to ascertain the actual outstanding amount of facilities with these Creditor Banks.  Arriving into a conclusive amount now may also compromise the Company’s position in its legal quest. This announcement dated 10 July 2020.

icy97

Type	Announcement
Subject	OTHERS
Description	KHEE SAN BERHAD ("THE COMPANY" OR "KSB")- DEFAULT IN PAYMENT PURSUANT TO PARAGRAPH 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("MAIN LR") DEFAULT IN PAYMENT TO CREDITOR BANKS
Reference is made to the reply to the Bursa’s query letter [dated 9 July 2020 (Ref No : IQL-09072020-00001)] on 10 July 2020, in relation to the announcement made by the Company on 6 July 2020 pertaining to Default in Payment pursuant to Paragraph 9.19A of the Main Market Listing Requirements Of Bursa Malaysia Securities Berhad ("Main LR") - Default In Payment to Creditor Banks. The Board of Directors (“Board”) of KSB would like to further inform as follows :- The details of other default in Payments with other Creditor Banks are as follows : No Bank BA Facilities (RM) OD Facilities (RM) Total Facilities (RM) Date  of Default (RM) Reason for default 1. HSBC Bank 16,519,000 1,040,938 17,559,938 10/5/2019 – 15/8/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay HSBC on a timely manner 2. Bank of China 14,153,000 2,135,982 16,288,982 23/4/2019 – 8/8/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay Bank of China on a timely manner 3. Standard Chartered 7,541,146 - 7,541,146 24/5/2019 – 5/8/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay Standard Chartered on a timely manner 4. Maybank 5,279,384 1,041,313 6,320,698 26/4/2019 – 13/9/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay Maybank on a timely manner 5. UOB Bank 5,209,000 2,707,772 7,916,772 19/4/2019 – 9/8/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay UOB Bank on a timely manner 6. OCBC Bank 4,236,000 8,347,000 16/4/2019 – 30/7/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay OCBC Bank on a timely manner 7. OCBC Islamic Bank 4,111,000 16/4/2019 – 30/7/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay OCBC Islamic Bank on a timely manner 8. Alliance Bank 4,277,000 4,277,000 3/5/2019 – 30/8/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay Alliance Bank on a timely manner 9. CIMB Islamic Bank 4,415,005 1,031,123 5,446,128 20/5/2019 – 19/8/2019 Due to cashflow constraint, the Company was not able to meet its obligations to pay CIMB Islamic Bank on a timely manner TOTAL FACILITIES ON RECORD* 65,740,535 7,957,128 73,697,664 * These figures are subject to be ascertained in due course The respective dates of the default in payment are herein stated in the table above.  However, the Board of Directors wishes to clarify that these defaults were only made aware to the Board recently, as during the material times of defaults, all matters relating to banking facilities were handled directly by the Chairman, who  was  also the Chairman/Group CEO of the then-holding company, London Biscuits Bhd (“LBB”), and that all accounting matters were handled by the accounting department of LBB. 11.      Where the default in payment is in respect of a listed issuer, major subsidiary or major associated company, as the case may be, a statement as to whether the listed issuer is solvent. The Company is of the view that it is still solvent based on its current cashflow position with sufficient working capital to support its operations, assuming the Company does not incorporate the repayments of the Bankers’ Acceptance (BA) and Overdraft (OD) facilities to the Creditor banks.  The reason is that the sums claimed by the Creditor Banks are in dispute, leading to the engagement of BDO Governance Advisory Sdn Bhd to undertake a forensic evaluation and assessment on the respective draw down documents of these BA and OD facilities granted by the Creditor Banks, as well as the subsequent fund remittances.  Premised on the above, the Board is of the view that the inclusion of the repayment of the BA and OD facilities is not prudent for the assessment of the Company’s solvency position given that the drawdowns of BA and OD, as well as the consequential outstanding amounts are currently being contested. Nonetheless, if the Company assumes the repayment of BA and OD facilities into the cashflow projections, then the Company will experience a negative cash flow scenario. This announcement is dated 13 July 2020.