Wijaya Baru Global Berhad ("WIJAYA") - Reply to Query on Unusual Market Activity
| WIJAYA BARU GLOBAL BERHAD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | MA-030708-67684 |
| Subject | Wijaya Baru Global Berhad ("WIJAYA") - Reply to Query on Unusual Market Activity |
Contents :
We refer to KLSE’s query dated 8 July 2003 in respect of paragraph 9.11 of the KLSE Listing Requirement on the sharp increase in price and high volume of WIJAYA's shares yesterday, 8 July 2003. At the Emergency Board Meeting convened on 9 July 2003 at 2.30 p.m. to discuss the issue, the Board of Directors hereby declare that:-
(i) there is no material development in the Company's business and affairs (except as disclosed below) that required to be disclosed that has not been disclosed; and
(ii) the Board of Directors are not aware of any rumour or other conditions exist, nor in our knowledge, any reason to account for the unusual market action.
However, the Board of Directors wish to highlight an event that has occurred in Kuala Dimensi Sdn Bhd (“KDSB”), a company which is 70% owned (effective) by one of WIJAYA’s major shareholders, Dato’ Seri Tiong King Sing. On 7 July 2003, the Securities Commission had approved the issuance of RM1,310,000,000 Asset-Backed Serial Bonds (“Bonds”) by a special purpose vehicle (“SPV”) set up in conjunction with the securitisation of receivables owned by KDSB. SPV is currently in the stage of finalising the preparation for issuance of the Bonds.
Part of the proceeds of the Bonds shall be utilised by SPV to pay KDSB who in turn will utilise part of the funds thereof received to pay WIJAYA, its subsidiary and associate company for the amount due which has been accounted for in the financial statement of WIJAYA.
Query Letter Contents :
We draw your attention to the sharp increase in price and volume in your
Company’s shares today.
In accordance with paragraph 9.11 of the Exchange’s Corporate Disclosure Policy
on Response To Unusual Market Activity, you are requested to furnish the
Exchange with an announcement for public release after a due enquiry seeking
the cause of the unusual market activity in the Company’s securities. When
considering your response and when making the required announcement, your
attention is particularly drawn to the continuing disclosure requirements set
out in Chapter 9 of the KLSE’s Listing Requirements.
The announcement is to reach the Exchange within one market day from the date
hereof via KLSE Listing Information Network ("KLSE Link").
Yours faithfully
TAN CHUN WENG
Senior Vice President
Financial Review & Surveillance
Listing Group
/Ami
Announcement Info
| Company Name | WIJAYA BARU GLOBAL BERHAD |
| Stock Name | WIJAYA |
| Date Announced | 9 Jul 2003 |
| Category | General Announcement |
| Reference No | WB-030709-60602 |
