pywong
18th November 2008, 06:18 PM
Summary Report of PricewaterhouseCooper on Pempena Companies
Posted by kasee
Tuesday, 18 November 2008 13:33
Overview of Pempena
In 2005, Pempena established a business plan for 2005-2009 to implement the following key activities:
(i) Equity participation in tourism related industries
(ii) Implementation of activities under the Shopping Malaysia Secretariat
(iii) Placement of funds in the money market and unit trusts.
There were 14 key areas of new businesses indentified by Pempena for implementation.
Pempena planned to invest a total of RM49.8m over the period of its business plan (ie 2005 – 2009) representing equity and profit sharing arrangements.
As at June 2008, Pempena has invested a total of RM54.4m via equity participation in and advances made to the Investee Companies.
High level financial performance review
Out of the 24 Investee Companies:
(i) 6 Investee Companies do not any financial information
(ii) 3 Investee Companies have partial financial information.
Most of the 24 Investee Companies have not been recording operational profits over the last 3 years with the exception of:
(i) Malaysia Travel Business Sdn Bhd (“MTB”)
(ii) Max Airplay Sdn Bhd (‘FlyFM’)
(iii) Malaysian Restaurant Londan Ltd (“Awana Chelsea”)
(iv) Bistro & Theatre Restaurant Sdn Bhd (“Saloma Theatre Restaurant”)
Only 4 Investee Companies have positive shareholders’ funds as at June 2008. They are:
READ MORE HERE: http://blog.limkitsiang.com/
Posted by kasee
Tuesday, 18 November 2008 13:33
Overview of Pempena
In 2005, Pempena established a business plan for 2005-2009 to implement the following key activities:
(i) Equity participation in tourism related industries
(ii) Implementation of activities under the Shopping Malaysia Secretariat
(iii) Placement of funds in the money market and unit trusts.
There were 14 key areas of new businesses indentified by Pempena for implementation.
Pempena planned to invest a total of RM49.8m over the period of its business plan (ie 2005 – 2009) representing equity and profit sharing arrangements.
As at June 2008, Pempena has invested a total of RM54.4m via equity participation in and advances made to the Investee Companies.
High level financial performance review
Out of the 24 Investee Companies:
(i) 6 Investee Companies do not any financial information
(ii) 3 Investee Companies have partial financial information.
Most of the 24 Investee Companies have not been recording operational profits over the last 3 years with the exception of:
(i) Malaysia Travel Business Sdn Bhd (“MTB”)
(ii) Max Airplay Sdn Bhd (‘FlyFM’)
(iii) Malaysian Restaurant Londan Ltd (“Awana Chelsea”)
(iv) Bistro & Theatre Restaurant Sdn Bhd (“Saloma Theatre Restaurant”)
Only 4 Investee Companies have positive shareholders’ funds as at June 2008. They are:
READ MORE HERE: http://blog.limkitsiang.com/