【GIIB 7192 交流专区】（前名 GOODWAY）

icy97

Type	Announcement
Subject	OTHERS
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR "THE COMPANY") - REVALUATION OF PROPERTIES
Pursuant to Paragraph 9.19(46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of GIIB wishes to announce that GIIB Group had undertaken a revaluation exercise on the properties held by its subsidiaries. The Board had at its meeting held on 11 April 2017 noted the valuation reports and approved the incorporation of the revaluation surplus/(deficit) in the unaudited financial results of GIIB for the fourth quarter ended 31 December 2016. The details of the announcement is in the Appendix as attached. This announcement is dated 11 April 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5393449

Attachments GIIB - Revaluation announcement - Appendix.pdf

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稽查师对财报质疑．顺行综合设委会调查

（吉隆坡28日讯）顺行综合（GOODWAY,7192,主板工业产品组）表示，该公司外部稽查师对其财报持保留意见，质疑该公司工厂设备和库存的账面价值，该公司将设立调查委员会调查稽查师报告中提出的课题。

顺行综合在文告中指出，根据稽查师的报告，截至2016年12月31日，该公司管理层未作减值测试或评估有关3411万令吉的资产。同时，其子公司Big Wheel Green轮胎私人有限公司的1140万令吉库存，其成本无法衡量。管理层未评估以售价减成本方式来脱售库存。

管理层认为，无需对其工厂设备和库存的账面价值作出减值。而稽查师对有关工厂和设备的3411万令吉和库存的1140万令吉账面价值，无法取得充足的稽查证明。

文章来源：
星洲日报／财经‧2017.04.29

Type	Announcement
Subject	OTHERS
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR THE "COMPANY")- QUALIFICATION IN EXTERNAL AUDITORS' REPORT FOR THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2016
Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, GIIB wishes to inform that Messrs Kreston John & Gan, the Company's External Auditors, have expressed a qualified opinion in their report. A copy of the Extract of Auditors' Report is annexed herewith. In relation to the above, the Board of Directors of GIIB wishes to announce that the Board has resolved to establish an Investigation Committee to investigate on the issues as stated in the auditors' report. This announcement is dated 28 April 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5415377

Attachments GIIB Auditors Report - Basis for qualified of opinion.pdf

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Type	Announcement
Subject	AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN QUALIFIED OPINION
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR "THE COMPANY")QUALIFICATION IN EXTERNAL AUDITORS' REPORT FOR THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016.
(The announcement dated 28 April 2017 made by the Company in relation to the qualification in External Auditors’ report for the financial statements for the period ended 31 December 2016 is superseded with this announcement.) Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, GIIB wishes to inform that the Company had on 28 April 2017 received a qualified audit opinion from Messrs Kreston John & Gan, the Company's External Auditors. A copy of the Extract of Auditors’ Report is annexed herewith. 1.  The Board of Directors of GIIB had on 4 May 2017 deliberated on the matters and wishes to announce that an external independent professional firm will be appointed to assess and evaluate whether there is any indication of impairment on the carrying amount of plant and equipment, and inventories in the financial statements of the Group as at 31 December 2016. 2.  In addition, an internal review committee has been formed to monitor the progress of the above assessment. The assessment is expected to be completed within four (4) months and necessary announcement will be made in due course. This announcement is dated 5 May 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5420525

Attachments GIIB Auditors Report (31 Dec 2016).pdf

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Date of change	23 May 2017
Name	MISS WONG PING KIONG
Age	54
Gender	Female
Nationality	Malaysia
Designation	Executive Director
Directorate	Executive
Type of change	Retirement
Qualifications
Working experience and occupation
Family relationship with any director and/or major shareholder of the listed issuer	None
Any conflict of interests that he/she has with the listed issuer	None
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct - 25,000HLB Nominees (Tempatan) Sdn Bhd - 2,792,953JF Apex Nominees (Tempatan) Sdn Bhd - 1,750,000Indirect - 180,000

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2017	31 Mar 2016	31 Mar 2017	31 Mar 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	41,024	47,429	41,024	47,429
2	Profit/(loss) before tax	104	-1,099	104	-1,099
3	Profit/(loss) for the period	104	1,265	104	-1,265
4	Profit/(loss) attributable to ordinary equity holders of the parent	105	-1,272	105	-1,272
5	Basic earnings/(loss) per share (Subunit)	0.10	-1.15	0.10	-1.15
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.4100		0.4000

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Date of change	08 Jun 2017
Name	MISS SHAREENA MARTIN
Age	52
Gender	Female
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Financial Officer
Qualifications	MEMBER OF THE ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANT ("ACCA")
Working experience and occupation	29 YEARS OF EXPERIENCE IN CONSULTING, PROPERTY DEVELOPMENT, TRADING, CONCESSIONAIRE.

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委外部审计师
顺行评估设备库存减值

2017年6月17日
（吉隆坡16日讯）顺行综合工业（GOODWAY，7192，主板工业产品股）委任外部审计师，对旗下设备和库存进行减值评估。

顺行综合工业向交易所报备，委任Messrs PKF企业服务私人有限公司为外部审计师，针对截至去年杪旗下的厂房设备和库存，进行减值评估。

这项评估活动，预计在今年8月30日前完成。

在今年4月28日，外部审计师Messrs Kreston John & Gan提出，顺行综合工业截至去年杪的厂房和设备，没有根据第136财务报告准则（FRS136）评估，账面价值为3410万9390令吉。

此外，它在对子公司Big Wheel Green Tyres私人有限公司的库存，也没有根据FRS102评估，算出账面价值1140万3572令吉。

该审计师透露，顺行综合工业管理层认为，上述设备和库存的账面价值，不存在减值迹象。

因此，该审计师表示，无法获得足够的审计证据，证实上述账面价值。【e南洋】

Type	Announcement
Subject	OTHERS
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR "THE COMPANY")- CLARIFICATION ON THE ARTICLE PUBLISHED BY THE EDGE FINANCIAL DAILY
We refer to the article in The Edge Financial Daily dated 15 June 2017 and wish to clarify that the Company did not announce in April 2017 that “it was establishing an investigation committee to probe alleged irregularities highlighted by its external auditors, Messrs, Kreston, John & Gan with regards to its FYE 2016 accounts”. We wish to inform that in the announcement dated 28 April 2017, the Company stated that the Board had resolved to establish an Investigation Committee to investigate the issues stated in the Auditors’ Report, namely, the Management had not performed an impairment test on the carrying amount of Plant & Equipment of RM34 mil and the inventories of RM11.4 mil but, this announcement was superceded by the announcement made by the Company on 5 May 2017 which states that an external independent professional firm would be appointed to assess and evaluate whether there is any indication of impairments and that an Internal Review Committee has been formed to monitor the progress of the assessment. We wish to highlight that as the Audit Report for FY2016 only stated that the Management had not performed an impairment test on the carrying amount of the Plant & Equipment of RM34 mil and the inventories of RM11.4 mil, the Management has since engaged an independent professional firm to carry out the impairment test only and this exercise is expected to be completed by the end of August 2017. This announcement is dated 16 June 2017.

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顺行综合工业500万
卖沙巴双层工业楼

2017年8月2日
（吉隆坡1日讯）顺行综合工业（GOODWAY，7192，主板贸服股）以500万令吉，脱售沙巴占地面积约0.196英亩的双层工业楼。

顺行综合工业今日向交易所报备，通过独资子公司Big Wheel Green Tyres私人有限公司，与余勇富、余明生和余明永（皆译音）签署买卖协议，以脱售一间双层角头仓库楼与夹层楼面，预计4个月内完成。

顺行综合工业指出，这产业位于沙巴加拉曼星，建筑面积约780平方米，租赁期限长达999年。

截至去年12月杪，该产业的账面价值为469万1000令吉。

脱售所得中的60万令吉，将用于解决该产业的贸易贷款，440万令吉为偿还独资子公司Goodway Rubber Industries私人有限公司的债务。

顺行综合工业当初在该产业的投资额为284万3786令吉，预计脱售收益为约30万9000令吉。

通过上述脱售活动，能降低顺行综合工业的负债率，从2.37倍降至2.31倍。【e南洋】

Type	Announcement
Subject	OTHERS
Description	GOOD WAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR THE "COMPANY")- DISPOSAL OF PROPERTY
The Board of Directors of GIIB wishes to announce that the Company’s wholly-owned subsidiary, Big Wheel Green Tyres Sdn Bhd (“BWGTSB”) has entered into a Sale and Purchase Agreement (“SPA”) with Yii Yong Hook @ Eii Yong Hook, Yii Ming Seng and Yii Ming Ung (“the Purchasers”) for the disposal of a property situated at Lot 25, Jalan Karamunsing, Karamunsing Warehouse, 88000 Kota Kinabalu, Sabah (“the Property”), by BWGTSB to the Purchasers, for a cash consideration of RM5,000,000.00 (“Consideration Sum”) (“Proposed Disposal”). Please refer to Appendix I for details of the announcement. This announcement is dated 1 August 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5504413

Attachments GIIB - Disposal of Property - Karamunsing (Final).pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2017	30 Jun 2016	30 Jun 2017	30 Jun 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	28,176	37,297	69,200	84,726
2	Profit/(loss) before tax	-3,801	-1,958	-3,697	-3,057
3	Profit/(loss) for the period	-3,801	-2,008	-3,697	-3,273
4	Profit/(loss) attributable to ordinary equity holders of the parent	-3,800	-1,937	-3,695	-3,209
5	Basic earnings/(loss) per share (Subunit)	-3.44	-1.75	-3.34	-2.90
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.3700		0.4000

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icy97 发表于 10-5-2017 05:17 AM
[/td][/tr]
[/table]http://www.bursamalaysia.com/market/listed-companies/company-announcements/5420525

Type	Announcement
Subject	OTHERS
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR THE "COMPANY")QUALIFICATION IN EXTERNAL AUDITORS REPORT FOR THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
We refer to the Company’s announcements dated 5 May 2017 and 14 June 2017 relating to the above matter. The Board of Directors of GIIB wishes to announce that PKF Business Services Sdn Bhd (“PKFBS”) has completed the assessment of impairment on the carrying amount of plant and equipment, and inventories of the GIIB Group in the financial statements as at 31 December 2016 (“FYE 2016”). The assessment conducted by PKFBS has concluded that the overall impairment impact to the plant and equipment, and inventories of the GIIB Group in the financial statements as at FYE 2016 are as follows:- Item RM Plant and equipment - Impairment of plant and equipment 469,024 Inventories - Write down to NRV 252,502 Total 721,528 The above impairment impact has been provided for in the interim results for the quarter ended 30 June 2017. This announcement is dated 30 August 2017.

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GOODWAY INTEGRATED INDUSTRIES BERHAD

Date of change	01 Nov 2017
Name	MR YEW HONG AUN
Age	47
Gender	Male
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Financial Officer
Qualifications	MEMBER OF THE ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANT ("ACCA, UK")FCCA - FELLOWSHIP MEMBERMALAYSIAN INSTITUTE OF ACCOUNTANTS ("MIA") - CHARTERED ACCOUNTANT
Working experience and occupation	A chartered accountant with 27 years of experience in accounting & finance, treasury, corporate finance, mergers & acquisitions, and business development.  Industries experience include plantation, manufacturing, construction, contracting services, mining, trading and building materials.

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Date of change	31 Oct 2017
Name	MISS SHAREENA MARTIN
Age	52
Gender	Female
Nationality	Malaysia
Type of change	Resignation
Designation	Chief Financial Officer
Reason	Pursue other opportunities

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Change in Financial Year End

GOODWAY INTEGRATED INDUSTRIES BERHAD

Old financial year end	31 Dec 2017
New financial year end	30 Jun 2018

Remarks :

The Board of Directors of Goodway Integrated Industries ("GIIB" or the "Company") wishes to announce that the Company had changed its financial year end to 30 June.  Thus, the next set of financial statements will be made up from 1 January 2017 to 30 June 2018 covering a period of 18 months. Thereafter, the financial year end of the Company shall end on 30 June for each subsequent year.

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	31,513	43,254	100,713	127,980
2	Profit/(loss) before tax	3,119	-240	-580	-3,297
3	Profit/(loss) for the period	3,119	-407	-580	-3,680
4	Profit/(loss) attributable to ordinary equity holders of the parent	3,120	-376	-577	-3,585
5	Basic earnings/(loss) per share (Subunit)	2.82	-0.34	-0.52	-3.24
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.4000		0.4000

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售汝来工厂
顺行综合工业料赚187万

2018年2月10日
（吉隆坡9日讯）顺行综合工业（GOODWAY，7192，主板贸服股）以500万令吉脱售位于汝来（Nilai）的工厂，预计将从中净赚186万7973令吉。

该集团向交易所报备，独资子公司顺行橡胶工业与CK橡胶工业私人有限公司签署买卖协议，脱售占地约10万8925平方尺的工厂。

1997年1月7日，集团以313万2027令吉收购工厂，截至2016年12月31日账面价值达738万令吉。

负债降至1.82倍

顺行综合工业将通过脱售活动释放产业价值、加强财务表现及减少债务。

在脱售工厂之后，负债率将从1.93倍，降低至1.82倍。【e南洋】

Type	Announcement
Subject	OTHERS
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR "THE COMPANY")- DISPOSAL OF PROPERTY
The Board of Directors of GIIB wishes to announce that the Company’s wholly-owned subsidiary, Goodway Rubber Industries Sdn Bhd (“GWRI”) had entered into a Sale and Purchase Agreement (“SPA”) with CK Rubber Industries Sdn Bhd (Company No. 655737-V) (“the Purchaser”) for the disposal of a piece of property situated at Lot PT 3910, Nilai Industries Estate, 71800 Nilai, Negeri Sembilan (“the Property”), by GWRI to the Purchaser, at a cash consideration of RM5,000,000.00 (“Consideration Sum”) (“Proposed Disposal”). Please refer to Appendix A for details of the announcement. This announcement is dated 9 February 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5688857

Attachments GIIB - Bursa Announcement Disposal of Nilai Factory.pdf

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Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-13022018-00001
Subject	DISPOSAL OF PROPERTY
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR "THE COMPANY")DISPOSAL OF PROPERTY - REPLY TO BURSA QUERIES
Query Letter Contents	We refer to your Company’s announcement dated 9 February 2018, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1)      Date of the Sale and Purchase Agreement (“SPA”) entered into between Goodway Rubber Industries Sdn Bhd and CK Rubber Industries Sdn Bhd (“Puchaser”). 2)      The name of Directors and substantial shareholders of the Purchaser together with their respective shareholdings. 3)      Further information of the Property pursuant to Part C of Appendix 10A of the Main Market Listing Requirements, including the age of the building, encumbrances and existing use. 4)      The effects of the disposal to the Group’s existing business operation. 5)      The termination clause under the SPA. 6)      To state clearly whether the book value of the Property is based on the audited financial statements for the financial year ended 31 December 2016. 7)      To clarify whether the Company has undertaken any valuation on the Property recently in view that the valuation carried out by the valuer has been conducted more than 1 year. 8)      The basis and justification to arrive at the disposal consideration of RM5 million given that it is at a discount to the market value as appraised by the valuer of RM7.38 million. 9)      Tabulation and clarification on how to derive the gain on disposal of RM1,867,973 upon taking into consideration the disposal consideration and the net book value of the Property. 10)    The timeframe for the utilisation of proceeds. 11)    The specific aspects that were considered by the Board to arrive at their opinion that the Proposed Disposal is in the best interest of the Company taking into consideration that the Property is sold below its market value. 12)    Further clarification as to why there is an urgency for the Company to unlock the value of the Property at this juncture. 13)    Details of the term loan facilities charged against the Property, including the name of the facility provider, outstanding amount as at the latest practicable date, interest rate charged and maturity date.
Reference is made to the Company’s announcement made on 9 February 2018. The Board of Directors of GIIB hereby announces that the Sale and Purchase Agreement (“SPA”) made between the Company’s wholly owned subsidiary, Goodway Rubber Industries Sdn Bhd (“GWRI”) and CK Rubber Industries Sdn Bhd (“CKRI”), has been mutually terminated by both parties on 14 February 2018. The SPA shall become null and void and be of no further effect; and neither party shall have any further claims against the other in respect of the provisions of the SPA. The reason for the termination of the SPA is that both parties intend to enter into a new arrangement whereby the new arrangement will involve the disposal of the Property as described in the announcement dated 9 February 2018 and other classes of assets that will form part of the terms and conditions of a new SPA. A new announcement will be released upon execution of the new SPA and the queries raised by Bursa Securities will be incorporated in the new announcement. This announcement is dated 14 February 2018

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		Three Months	Three Months	Twelve Months	Twelve Months
		01 Oct 2017 To	01 Oct 2016 To	01 Jan 2017 To	01 Jan 2016 To
		31 Dec 2017	31 Dec 2016	31 Dec 2017	31 Dec 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	20,244	29,137	120,957	157,117
2	Profit/(loss) before tax	1,092	-39,912	515	-43,209
3	Profit/(loss) for the period	1,092	-42,104	515	-45,784
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,094	-42,038	520	-45,623
5	Basic earnings/(loss) per share (Subunit)	0.99	-38.04	0.47	-41.28
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.4100		0.4000

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顺行综合工业卖澳产业
进账21.37万

2018年3月10日
（吉隆坡9日讯）顺行综合工业（GOODWAY，7192，主板贸服股）以105万澳元（约323万4000令吉）脱售位于澳洲的产业，预计可从中获得7万澳元（约21万3705令吉）收益。

顺行综合工业今日向交易所报备，持股90%的澳洲子公司Goodway Rubber公司（简称GRPL），与澳洲公司Virtual Management Services签约。

该产业被GRPL用作橡胶化合物产品贸易的办公室和仓库，土地面积约766平方米，建筑面积约654平方米。

截至12月杪的2016财年，该产业账面价值达95万澳元（约290万279令吉）。

顺行综合工业于2000年6月20日收购该产业，原投资成本为42万5000澳元（约129万7493令吉）。

顺行综合工业称，脱售计划符合公司和集团的最佳利益，因为将释放产业价值，加强财务状况，及将负债率从1.93倍降至1.89倍。

该公司将动用脱售所得，还清澳洲和纽西兰银行的房屋贷款、税收和其他成本，及营运资本。【e南洋】

Type	Announcement
Subject	OTHERS
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR "THE COMPANY")- DISPOSAL OF PROPERTY
The Board of Directors of GIIB wishes to announce that the Company’s 90% owned subsidiary, Goodway Rubber Company Pty. Limited (Company No. ACN 061172398) (“GRPL” or the “Vendor”) had on 9 March 2018, entered into a Sale and Purchase Agreement (“SPA”) with Virtual Management Services Pty Limited (Company No. ACN 094295986) (“the Purchaser”) for the disposal of a piece of property located at Unit 3/11 Saggart Field Road, Minto NSW 2566 Australia (“the Property”), by GRPL to the Purchaser, at a cash consideration of AUD$1,050,000.00 (approximately RM3,234,000.00 @ AUD$1:RM3.08) (“Consideration Sum”) (“Proposed Disposal”). Please refer to Appendix A for details of the announcement. This announcement is dated 9 March 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5719845

Attachments GIIB - Bursa Announcement Disposal of Australia Property APPENDIX A.pdf

icy97

Type	Announcement
Subject	OTHERS
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR THE "COMPANY")DISPOSAL OF PROPERTY AND MACHINERY
The Board of Directors of GIIB wishes to announce: that the Company’s wholly-owned subsidiary, Goodway Rubber Industries Sdn Bhd (Company No. 147222-D) (“GWRI” or the “Property Vendor”) had on 3 April 2018, entered into a Sale and Purchase Agreement (“Property SPA”) with CK Rubber Industries Sdn Bhd (Company No. 655737-V) (“the Purchaser”) for the disposal of a piece of property situated at Lot PT 3910, Nilai Industries Estate, 71800 Nilai, Negeri Sembilan (“the Property”), by GWRI to the Purchaser, at a cash consideration of RM6,800,000.00; and that the Company’s wholly-owned subsidiary, Big Wheel Green Tyres Sdn Bhd (Company No. 48447-D) (“BWGT” or the “Machinery Vendor”) had on 3 April 2018, entered into a Sale and Purchase Agreement (“Machinery SPA”) with the Purchaser for the disposal of tyres retreading machinery and equipment, comprising hotcure and precure machines, monorail, and factory tools (“the Machinery”), by BWGT to the Purchaser, at a cash consideration of RM700,000.00. Please refer to Appendix A for details of the announcement. This announcement is dated 3 April 2018

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5745801

Attachments GIIB - Bursa Announcement Disposal of property by GWRI and Machinery by BWGT APPENDIX A.pdf

icy97

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-05042018-00001
Subject	DISPOSAL OF PROPERTY AND MACHINERY
Description	GOODWAY INTEGRATED INDUSTRIES BERHAD ("GIIB" OR THE "COMPANY")DISPOSAL OF PROPERTY AND MACHINERY
Query Letter Contents	We refer to your Company’s announcement dated 3 April 2018, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1)      The name of Directors, substantial shareholders of CK Rubber Industries Sdn Bhd (“Purchaser”) and their respective shareholdings. 2)      To define the “Deposit” paid by the Purchaser. 3)      It is noted that there is a material variation on the market value as appraised by KGV International Property Consultants (M) Sdn Bhd on the Property (based on Company’s announcement dated 9 February 2018 and 3 April 2018) as stated below:- Date of valuation 30 December 2016 23 March 2018 Market value RM7,380,000 RM6,800,000 Method of valuation Comparison Comparison In this regard, please provide a detailed explanation on what are the material developments or circumstances in relation to the Property that resulted in the substantial decline in market value within the timeframe indicated above. 4)      Reasons for BWGT-Nilai incurring losses since 2015 and what are the bases for your company to form an opinion that BWGT-Nilai is not expected to be profitable. 5)      Whether the Proposed Disposal is subject to the relevant government authorities’ approvals and if any, the date of the approval obtained. 6)      The specific aspects that were considered by the Board to arrive at their opinion that the Proposed Disposal is in the best interest of the Company.
Reference is made to the Company’s announcement made on 3 April 2018 and queries from Bursa on 5 April 2018. The Company hereby provide further information as follows:- 1.   Information on CK Rubber Industries Sdn Bhd (“Purchaser”) Name of Directors Appointment Date: 1. Mr Looe Chee Keong 11 June 2004 2. Ms Leng Mei Wan 11 June 2004 Substantial Shareholders Shareholdings 1. Mr Looe Chee Keong 700,000 (80.46%) 2. Ms Leng Mei Wan 170,000 (19.54%) 2.   To define the “Deposit paid by the Purchaser The non-refundable earnest deposit is the consideration sum of Ringgit Malaysia Three Hundred Thousand (RM300,000.00) only (hereinafter called “the Deposit”) previously paid by the Purchaser to the Property Vendor by way of cash, the receipt whereof the Property Vendor hereby acknowledges as part payment towards the purchase price of the Property, the Property Vendor hereby agrees to sell and the Purchaser agrees to purchase the Property in the state and condition as at the date of the Property SPA on an “as is where is basis” free from all encumbrances whatsoever at a purchase price of Ringgit Malaysia Six Million Eight Hundred Thousand (RM6,800,000.00) only excluding goods and service tax. 3.   Variation on the Market Value as appraised by KGV International Property Consultants (M) Sdn Bhd. Date of Valuation 30 Dec 2016 23 March 2018 Value on Land RM4,355,000 RM3,810,000 Value on Building RM3,025,000 RM2,990,000 Total Value RM7,380,000 RM6,800,000 In the valuation carried out on 30 Dec 2016, the vacant industrial lands in the locality and within similar localities are being transacted /listed recently at prices ranging from RM25 to RM55 psf. The estimated land value that was used in the 30 Dec 2016 report was at RM40 psf. (Comparing with two latest transacted prices of RM49 psf on 14 July 2015 and RM32 psf on 28 June 2016). However, due to the declining volume and value of the industrial property sub-sector in the 1st half of 2017, the estimated land value is adjusted to reflect the current weakness in the property market. The industrial property transactions in the sub-sector recorded a decrease of 1.3% in volume and 11.3% in value in the 1st half of 2017. (SOURCE: PROPERTY MARKET REPORT 1ST HALF 2017, MINISTRY OF FINANCE) As for the building revision, a nominal depreciation of the building is applied. The current market value represents a 7.8% drop from the past valuation. 4.   Reasons for BWGT-Nilai incurring losses since 2015 and what are the bases for your company to form an opinion that BWGT-Nilai is not expected to be profitable. In the financial year 2015, BWGT-Nilai’s operating gross profit margin is at 4%, and the selling, marketing and overheads cost is at 10%. Revenue was RM10.62 million. In the financial year 2016, BWGT-Nilai was operating at gross loss margin of 4% and its selling, marketing and overheads cost is at 10%. Revenue was RM8.4 million. For the 14 months period between January 2017 and February 2018, BWGT-Nilai financial performance deteriorated further, its gross loss margin has worsened to 16%. Revenue was only at RM5.2 million. Having evaluated the above financial performance of BWGT-Nilai, the declining sales, the negative gross profit margin and the challenging business prospect in tyres retreading segment in West Malaysia market, the Management decided to cease BWGT-Nilai operation. 5.   The Proposed Disposal is not subjected to any relevant government authorities’ approvals. 6.   In arriving at its opinion that the Proposed Disposals are in the best interest of the Company, the Board has considered the following:- The net proceeds from the Proposed Disposal of the Property of RM6,550,000.00 will enable the Company pay down its Term Loan borrowings over 12 monthly instalments; Effectively, the Company will be able to utilise the savings from the monthly instalment of RM526,670 for its working capital and to grow its rubber compound business going forward; The proceeds from the disposal of Machinery of RM700,000.00 will be utilised as working capital for BWGT-KK branch operation; and By ceasing BWGT-Nilai operation, the Company is able to effectively reduce its operating losses and operating cash outflow. This announcement is dated 6 April 2018