JCY is the biggest HDD player in Malaysia. But financial result keep making loss. That why its share moving in the bottom. Compared to other HDD player such as DUFU and Notion which share price keep moving higher and higher, JCY worth a 2nd look?
JCY recently venture into the businesses of design and development, manufacturing and trading of components for tele-communication equipment, automotive parts, electronic devices, metal products, moulds, sheet metal, industrial automation devices and tools. This movement likely will have good impact to the future earning of company. JCY also can use its excess cash around RM300 Million to generate the revenue.
OTHERS JCY International Berhad ("the Company" or "JCY") - Incorporation of wholly-owned subsidiary, YQ Technology (Jiangsu) Co., Ltd. ("YQ Tech")
| JCY INTERNATIONAL BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description |
JCY International Berhad ("the Company" or "JCY") - Incorporation of wholly-owned subsidiary, YQ Technology (Jiangsu) Co., Ltd. ("YQ Tech")
|
|
The Board of Directors of JCY wishes to announce that the Company’s indirect wholly-owned subsidiary, Axius Investments Ltd. (“Axius”),
had on 16 September 2019 received the business license dated 16
September 2019 from Jiangsu Province, the People’s Republic of China on
the incorporation of YQ Tech.
YQ Tech is incorporated with a registered share capital of USD 3,000,000 at which Axius has 100% shareholdings.
The intended principal activity of YQ Tech is
to carry on the businesses of design and development, manufacturing and
trading of components for tele-communication equipment, automotive
parts, electronic devices, metal products, moulds, sheet metal,
industrial automation devices and tools.
The incorporation of YQ Tech is not expected
to have any material effect on the earnings per share, dividend policy,
net assets per share, gearing, share capital and substantial
shareholders' shareholding of JCY Group for the financial year ending 30
September 2019.
The incorporation is not subject to the approval of any regulatory authorities in Malaysia or shareholders of the Company.
None of the Directors and/or substantial
shareholders of JCY and/or persons connected to them has any interest,
direct or indirect, in the incorporation of YQ Tech.
This announcement is dated 17 September 2019.
|
|
Announcement Info
| Company Name | JCY INTERNATIONAL BERHAD |
| Stock Name | JCY |
| Date Announced | 17 Sep 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-17092019-00087 |
https://klse.i3investor.com/blogs/Mollytan/2019-11-01-story233110-Will_JCY_worth_a_2nd_look.jsp
