Nov 27 2010, 02:46 PM
QUOTE(vileparle @ Nov 27 2010, 11:40 AM)
RCE Capital holders take note.....
The Company wishes to inform that Koperasi Wawasan Pekerja-Pekerja Berhad (“KOWAJA”) has on 26 November 2010 advised that they will not be making any further loan disbursements from 1 December 2010 onwards. KOWAJA is currently the largest borrower of RCE Marketing Sdn Bhd (“RCEM”), a wholly-owned subsidiary of RCEM, and provides personal loans to its members (who are primarily in the civil service) via an on-lending arrangement in relation to the funds borrowed from RCEM.
Following enquiries made by RCEM, KOWAJA has informed that they have been requested to submit a plan to Suruhanjaya Koperasi Malaysia (“SKM”) for complete endorsement of KOWAJA’s compliance with SKM’s applicable guidelines. Until such endorsement, KOWAJA will temporarily cease disbursement of loans from 1 December 2010 onwards.
At the same time, KOWAJA has given its assurance that all loans disbursed up to 30 November 2010 will continue to be serviced via the regular collection mechanism. RCEM has also not observed any disruptions in the same. Meanwhile, KOWAJA is working closely with SKM towards an expedient resolution of the temporary disruption in their operations.
As such, the Company does not expect the above to have any material financial impact to the group in relation to the current financial year ending 31 March 2011 and on its ability to meet interest and principal payments in respect of its existing debt obligations.
However, if KOWAJA’s loan disbursements are curtailed in a prolonged manner, there may be some impact on the group’s future profitability in the longer-term.
We will keep the market informed as and when there are further material developments on the above.
This announcement is dated 26 November 2010.
What does it mean? KOWAJA is going to bankruptcy or something like that? Any sifu, please help. Thanks!! The Company wishes to inform that Koperasi Wawasan Pekerja-Pekerja Berhad (“KOWAJA”) has on 26 November 2010 advised that they will not be making any further loan disbursements from 1 December 2010 onwards. KOWAJA is currently the largest borrower of RCE Marketing Sdn Bhd (“RCEM”), a wholly-owned subsidiary of RCEM, and provides personal loans to its members (who are primarily in the civil service) via an on-lending arrangement in relation to the funds borrowed from RCEM.
Following enquiries made by RCEM, KOWAJA has informed that they have been requested to submit a plan to Suruhanjaya Koperasi Malaysia (“SKM”) for complete endorsement of KOWAJA’s compliance with SKM’s applicable guidelines. Until such endorsement, KOWAJA will temporarily cease disbursement of loans from 1 December 2010 onwards.
At the same time, KOWAJA has given its assurance that all loans disbursed up to 30 November 2010 will continue to be serviced via the regular collection mechanism. RCEM has also not observed any disruptions in the same. Meanwhile, KOWAJA is working closely with SKM towards an expedient resolution of the temporary disruption in their operations.
As such, the Company does not expect the above to have any material financial impact to the group in relation to the current financial year ending 31 March 2011 and on its ability to meet interest and principal payments in respect of its existing debt obligations.
However, if KOWAJA’s loan disbursements are curtailed in a prolonged manner, there may be some impact on the group’s future profitability in the longer-term.
We will keep the market informed as and when there are further material developments on the above.
This announcement is dated 26 November 2010.
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I don't think that North Korea WILL EVER dare to go to war with South Korea with United States solidly behind South Korea......if that happens, I am sure United States will used this as an excuse to get rid of North Korea once & forever.....yes, this pariah state North Korea will be totally flattened with whatever new weapons that the United States may have developed after the Iraq War....I am sure the United States will released these new weapons on North Korea. As it is, North Korea just want to flex it's small muscle to gain some BARGAINING CONCESSIONS FROM THE UNITED STATES, that's all. 
....just my 2 cents worth. 
Cheers brother.
its goreng time
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