Kneejerk effect. After a while they will forget about it.

seems that they are having completion & compliance certificate problem...
check their latest announcement....now applying for additional time....

is it serious? ><

investing always serious ... in any counter you invest.

anyone can help me to understand what is completion & compliance certificate problem means ?

http://www.pam.org.my/ccc.asp

Type
:
Announcement
Subject
:
JCY INTERNATIONAL BERHAD ("JCY” OR “COMPANY")
- Extension of Time to Obtain Completion and Compliance Certification

Contents
:
We refer to the approval letter dated 26 January 2010 (“Approval Letter”) from the Securities Commission (“SC”) for the listing of JCY on the Main Market of Bursa Malaysia Securities Berhad. Condition 1.2 (ii) imposed by the SC in the Approval Letter states that with regards to the property located at Plot 296 (PTD 63734), Tebrau IV Industrial Area, Mukim Tebrau, 81100 Johor Bahru, Johor Darul Takzim (“Property”), JCY is to obtain the Completion and Compliance Certification (“CCC”) within six (6) months from the date of the said Approval Letter.

On behalf of the Company, we wish to announce that an application for an extension of time of six (6) months up to 25 January 2011 for JCY to obtain the CCC from the relevant authorities in relation to the Property (“Proposed Extension of Time”), has been submitted to the SC and is currently pending the decision of the SC.

An announcement will be made upon receipt of the decision of the SC.

This announcement is dated 3 August 2010.



Announcement Details :

---

Added on August 6, 2010, 10:56 amstill don't know what's the consequences if can't comply with the SC approval letter

This post has been edited by sjz: Aug 6 2010, 10:56 AM

A CCC replaces the CF which certifies a building/area is safe for occupancy technically.

JCY is occupying a building which has no certification. If it is a clause in the listing requirement, then by Jan 2011 they have to get the CCC or move out of the said building.

How on earth did they end up in a building without the CF in the first place ? It's their building or rented ?

Maybe they built it themselves. Could be a warehouse or just a storage shed or an extension of a building. I don't think can be rented out if no CCC, I'm just guessing though.

the problem now is SC haven't approve the extension of time...
means they would be in big trouble if the SC refuses to give extension of time...
don't know how much impairment losses would causes if the CCC can't be obtained soon enough

anyone know what is the difference of the parts produce by
1)JCY
2)Notion Vtec
3)ENG

they're in deep shit now coz of the recent employee's death due to negligence, yes?

But the media seen try to hide this issue, never mention company name.

Any links/source to this news? thanks

I think JCY good for long run, HOLD!!!

The Star didn't write the details but chinese press Sin Chew wrote HDD factory in Kawasan Perindustrian Tebrau IV...
So confirmed is JCY, don't think there's any other HDD factory in Kawasan Perindustrian Tebrau IV, some more today newspaper can see their bangla, nepel worker etc. etc. wearing JCY uniform...
They stopped working starting from yesterday, don't know had the problem been resolved... But this should be a serious 1, Sin Chew reported that their foreign workers stay in a utmostly poor situation in which 2 people in different shift sharing 1 bed and their pay is less than RM500..

But their share price seems to be moving the other way round...

guys should I cut loss now since the news haven really annouce?

this morning on 98.8fm got mentioned JCY name in the issue (again, no confirmation)

Thanks for the information. I as wondering which company was that. Well, a lesson to those who like to employ foreigners.

Great, everyday drop, donno what to do with it. Kept in the freezer T_T