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Astaka Holdings
07-09-2019, 07:25 PM.
Post: #1
Astaka Holdings
Astaka has a really nice (almost fully glassed) apartment building that should also be the tallest along the JB straits. In fact, if one is driving towards the Immigration checkpoint on the BKE, they will be able to see this "iconic" condominium already about 5mins to the checkpoint. This letter of demands have been coming in since 1 year ago and it is only just recent that the BOD has been notified. What more, the sum owed to the main contractor that is presented on the books is 3x less than what the creditor is demanding!

The Malaysian property market is known to be soft since 2013. It is probably not going to get any better. SGX has a few more such of these small scale Msian developers listed here. Sometimes, it's intriguing to ponder why these guys ain't listing back in Msia instead? 

(I) RECEIPT OF LETTERS OF DEMAND; (II) PRIOR YEAR ADJUSTMENT ARISING FROM LATE INTEREST PAYMENT; AND (III) INDEPENDENT REVIEW BY ERNST & YOUNG ADVISORY PTE LTD

https://links.sgx.com/FileOpen/2019.09.0...eID=577486

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11-09-2019, 01:47 PM.
Post: #2
RE: Astaka Holdings
(07-09-2019, 07:25 PM)weijian Wrote: Sometimes, it's intriguing to ponder why these guys ain't listing back in Msia instead? [url=https://links.sgx.com/FileOpen/2019.09.05%20Astaka-Annc.ashx?App=Announcement&FileID=577486][/url]


IMHO, there are too many high quality property listing in Msia. Setia, Eco, E&O, UEM, Sunway, etc. I don't think Astaka can get attention of investors
And locals know that Astaka is a super High Risk project. 

Astaka is competing head-on with Mega Chinese state-own developers, Country Garden, Greenland and R&F. If these Chinese developers cut price, Astaka will belly up.

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