The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.
PETALING JAYA: K-One Technology Bhd
’s unit, K-One Resources Sdn Bhd has ratified a manufacturing agreement with a new customer to manufacture certain models of dental water flosser for consumer use.
In a filing with Bursa Malaysia Tuesday, K-One said the manufacturing of the products was expected to start in the end of second quarter this year.
“The manufacturing of the said product is forecasted to generate sales averaging approximately RM10mil per year, commencing this year, for an initial period of three years,” the company said.
K-One did not reveal the customer's name, but described that the customer is part of a US based multinational with sales revenue of US$3.8bil in 2017.
“The customer’s dental water flosser is the no.1 dental water flosser brand in the US and is sold to about 80 countries in the world. The dental water flosser is used by consumers,” it said.
“The agreement announced herein will have no effect on the issued capital of the company and is expected to contribute positively towards the earnings of the K-One Group for the financial year ending December 31, 2019,” it added.
K-One Tech is a Bursa Malaysia Ace Market-listed Company that is engaged in the research, design and development of electronic end-products and subsystems for the communication, computer and consumer electronics industries.
The company operates through three business segments: research, design, development and sales; manufacturing, and investment holding.
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