Jason Holdings (formerly: Jason Parquet Holdings)

[cfa]

Lim Chwee Kim , ex RICHLAND major shareholder has bought 19% of existing shares from Jason Sim to become second largest shareholder.

http://infopub.sgx.com/Apps?A=COW_CorpAn...9f47dd9fef

[tonylim]

There were obvious manipulations on share trading months ago, but was rather lucky to get away !

[cfa]

ANNOUNCEMENT OF MATTER CONCERNING MR JASON SIM CHON ANG, EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF THE COMPANY

http://infopub.sgx.com/FileOpen/JH_CIMB....eID=380365

One trouble after another !

[cfa]

http://www.straitstimes.com/business/com...ing-losses
The boss of timber flooring specialist Jason Holdings is in a dispute with CIMB Securities (Singapore) over the alleged non-payment of share-trading losses of more than $1 million, The Straits Times has learnt.

ST understands $1.1 million in losses was allegedly incurred in one trading account and about $60,000 in another between July and August.

Mr Jason Sim Chon Ang, the firm's executive chairman and chief executive (CEO), was served with a writ of summons last week by Allen & Gledhill, which is acting for CIMB Securities.

Jason Holdings told the Singapore Exchange (SGX) yesterday that the claim is over a "contractual dispute between CIMB and Mr Sim".

The group's directors noted that the claim is against Mr Sim in his personal capacity and does not affect the company's operations.

Mr Sim intends to contest the claim. He told The Straits Times: "My lawyer has asked CIMB to show us the documents that prove who traded my account."

The board said in the SGX statement that "it is in the best interest of the company that Mr Sim continues as the executive chairman and CEO of the company". It added that it may reassess Mr Sim's suitability to continue to act as executive chairman, CEO and board member later.

[CityFarmer]

The level of lapses in the company processes, is scaring as a listed company.

(not vested)

---------
POTENTIAL MISSTATEMENT OF THE UNAUDITED HALF YEAR FINANCIAL
STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30 JUNE 2015, WHICH WAS
ANNOUNCED ON 14 AUGUST 2015
http://infopub.sgx.com/FileOpen/JH_Finan...eID=385797

[CityFarmer]

It might be the the straw that breaks the camel's back. IMO, the CEO is too adventurous... What a pity...

(not vested)

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Following the Announcement, the board of directors (the “Board” or “Directors”) of Jason Holdings
Limited (the “Company”, and together with its subsidiaries, the “Group”) wishes to make a further
announcement regarding an application by Radwell Pte Ltd (“Radwell”), a substantial shareholder of
the Company, to wind up Jason Parquet Specialist (Singapore) Pte Ltd (“JPSS”), a wholly-owned
subsidiary of the Company, pursuant to the Statutory Demand (“Winding Up Application”).
On 29 April 2016, the solicitors of Radwell filed the Winding Up Application with the High Court of the
Republic of Singapore (“High Court”).
The date of the hearing of the Winding Up Application before the High Court is fixed at 20 May 2016.
The Directors are of the view that the Winding Up Application will have a material adverse impact on,
inter alia, the financial performance of the Group, as JPSS is the principal operating subsidiary of the
Group
...
http://infopub.sgx.com/FileOpen/JHL_Anno...eID=402794

[Triple70]

News from mar 16

http://www.businesstimes.com.sg/companie...or-s206000

[CityFarmer]

All creditors are rushing to demand the money...

http://infopub.sgx.com/FileOpen/JHL_Ann_...eID=405273

[CityFarmer]

Latest development on Jason Holdings...

Jason Holdings suspends CEO Jason Sim and ops director New

SINGAPORE (May 25): Jason Holdings’ special committee of selected board directors is suspending Jason Sim Chon Ang and New Sze Wei from their positions as CEO and operations director of the group respectively and barring them from performing any executive functions.

Meanwhile, the special committee is looking into the appointment of an interim CEO to supervise the day-to-day operations of the group.
...
http://www.theedgemarkets.com/sg/article...rector-new

[cyclone]

SGX reprimands Jason Holdings Limited and its former Executive Director and Chief Executive Officer, Mr Jason Sim Chon Ang

Singapore Exchange reprimands Jason Holdings Limited and Mr Jason Sim Chon Ang, the Company’s former Executive Director and Chief Executive Officer, for breaches of the Catalist Rules.

Based on findings of the reviews conducted by Ernst & Young Advisory Pte Ltd, the Company’s internal auditors and external auditors, and taking into account representations made to SGX by Jason Holdings Limited and Mr Sim, the breaches are as follows:
(a) Catalist Rule 703(1)(a) read with Catalist Rule 703(4)(a) and Paragraph 27(a) of Appendix 7A, requires an issuer to announce material information concerning the Group. In complying with the Exchange’s disclosure requirements, the content of each announcement should be factual, clear and succinct.

The Group materially overstated its revenue in its half-year financial results for the financial period ended 30 June 2015 ("1HY2015") announced on 14 August 2015.

(b) Catalist Rule 720(1) read with Catalist Rule 406(3)(b) requires directors and management to demonstrate character and integrity expected of directors and management of listed issuers.

Mr Sim gave instructions and authorised the inclusion of Undelivered Materials (as defined in this reprimand) in progress claim billings to customers, resulting in the overstatement of revenue in the Group’s 1HY2015 financial statements. Mr Sim also submitted falsified supporting documents to obtain short term trade financing facilities from banks for JHL’s principal subsidiary, Jason Parquet Specialist (Singapore) Pte Ltd.

SGX has referred the case to the relevant authorities.

More details in http://infopub.sgx.com/FileOpen/2018%200...eID=508290