ARTICLE ENTITLED : "Talasco closing deal with Tenaga Insurance"
|ASIAN PAC HOLDINGS BERHAD|
|Type||Reply to query|
|Reply to Query Letter by KLSE reference ID||ME-001103-35311|
|Subject||ARTICLE ENTITLED :|
"Talasco closing deal with Tenaga Insurance"
Contents :We refer to your letter dated 3 November 2000 on the above.
With regards to the article appearing in New Straits Times, Business, cover page on Friday, 3 November 2000, in particular the following sentences which are reproduced as follows: -
"A source said Talasco will acquire the entire issued and paid-up share capital of KL-based Tenaga Insurance for about RM100 million."
We wish to advise the Exchange that we were approached by Idris Hydraulic (Malaysia) Bhd ("Idris") on the possible acquisition/merger of our insurance arm, Tenaga Insurance Bhd. We have expressed our interest and in turn wrote to Bank Negara on 2 October 2000 to seek their approval to negotiate with Idris. As of todate, we have yet to receive approval from Bank Negara to proceed with such exercise.
Query Letter Contents :
We refer to the above article appearing in New Straits Times, Business, cover
page on Friday, 3 November 2000, a copy of which is enclosed for your
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
"IDRIS Hydraulic (Malaysia) Bhd is expected to conclude a deal soon with Asian
Pac Holdings Bhd for the acquisition of the latter's insurance arm Tenaga
Insurance (M) Bhd."
"A source said Talasco will acquire the entire issued and paid-up share capital
of KL-based Tenaga Insurance for about RM100 million."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentences after due and diligent enquiry with all the directors,
substantial shareholders and all such other persons reasonably familiar with
the matters about which the disclosure is to be made in this respect. In the
event you deny the above sentences or any other part of the above article, you
are required to set forth facts sufficient to clarify any misleading aspects of
the same. In the event you confirm the above sentences or any other part of the
above article, you are required to set forth facts sufficient to support the
Please furnish the Exchange with your reply within one (1) market day from the
KUALA LUMPUR STOCK EXCHANGE
Chong Fui Tzy
Manager, Listing Operations
cc:Securities Commission (via fax)
|Company Name||ASIAN PAC HOLDINGS BERHAD|
|Date Announced||6 Nov 2000|