After all that has happened, these people have moved on to make money somewhere else, and the unusual thing is the Gov't allows them to do so.

This is where they intend to go now. So stay away from Canal City and Radiant Pillar Sdn Bhd. Article below.

K-Euro Aims For Business Turnaround In 2012
Author: Nurul/ source Bernama
Date: 12/07/2010

Kuala Lumpur, -- Kumpulan Europlus Bhd (K-Euro) aims for a turnaround in business in 2012 as the 1,012-hectare Canal City project to be jointly developed with IJM Land Bhd takes off, its President and Chief Executive, Tan Sri Ir Chan Ah Chye said.

The 50:50 joint venture company for the development is Radiant Pillar Sdn Bhd, he said, adding that a supplementary agreement for it has been sealed.

"Sales for the project near the Kota Kemuning township, will start sometime next year and due to the new accounting standards, we can take it into account for the 2012 financial year. So, 2012, will be an exciting one," he added.

Speaking after the company's Extraordinary General Meeting (EGM) here today, Chan highlighted that the project, with a more than RM10 billion gross development value (GDV) and to be developed over 15 to 20 years, is the company's sole focus for now.

For the first quarter ended April 30, 2010, K-Euro slipped into a RM3.129 million pre-tax loss from a RM62,000 pre-tax profit in the same quarter previously.

Turnover also dropped to RM8.841 million from RM9.85 million previously.

According to Chan, K-Euro has also vowed to not make the same mistake as its unit, Talam Corporation Bhd, by buying too much land and ending up with huge debts.

"We will acquire land only when we have the money," he said, nothing that the Canal City project is more than adequate in respect of income for the next 15 years or so.

On Monday, its shareholders approved the proposal to dispose of 700 million Talam shares, to generate RM90.863 million that will be utilised to repay bank borrowings and savings in interest of about RM2.2 million.

The group's total bank borrowing as at March 31, 2010, amounted to RM260 million.

In the EGM circular, it was stated, upon full payment to Abrar Discounts Bhd (Abrar) for the Talam financial instruments and conversion of it to a voting share in Talam, K-Euro will be able to enhance its controlling stake in the company.

Assuming completion of the proposed disposal and upon full conversion of all outstanding Talam convertible financial instruments as at June 24, 2010, the equity interest of K-Euro in the latter will increase to 32.8 per cent from 26.51 per cent at present, it explained.

Link : http://besonline.rtm.gov.my/details.php?id...usiness/Economy

One thing the purchasers can do now is to approach Bank Negara for help, and ask BNM to tell the banks to stop the loan interest payment immediately. Then restructure the loan and start to pay instalment to pay down what's been disbursed earlier.

And too to negotiate for some haircuts against the disbursed amount.

This post has been edited by Hansel: Oct 18 2011, 09:55 PM

Well, I am doing my best to inform people, however, I don't participate in FB nor Twit, so, won't be investing my time there lar....

Another thing that comes to mind is people should always do their homework before investing, and do ALL homework possible.

If not, then the risk is higher in getting "conned" by.............

The latest news is : Talam Corporation is now known as Trinity Corporation, which is claimed to be different from Trinity Group.

If this is really true, then Trinity Group should consider taking legal action on Trinity Corporation for 'spoiling' their (Trinity Group's) name. If there is no official action, but just only simple defensive words from Trnity Group, then everyone should suspect a rat between the two Trinities.

How interesting, now there are two Trinities.

Sidetrack : Many "busuk tactics" by "busuk people".