ARTICLE ENTITLED: "Magnum, IOI in RM200 mil land deal?"
MAGNUM CORPORATION BERHAD |
Type | Reply to query |
Reply to Query Letter by KLSE reference ID | CY-030818-38647 |
Subject | ARTICLE ENTITLED: "Magnum, IOI in RM200 mil land deal?" |
Contents :
We refer to your letter dated 18 August 2003 with regard to the above news article appearing in The Edge Malaysia, pages 1 and 51, on Monday, 18 August 2003, and drawing our attention to the underlined sentence in the said article, reproduced as follows:-
"Magnum Corp Bhd is believed to be finalising a proposal to dispose of land near Putrajaya for over RM200 million. Sources said the buyer is either one of the companies in the IOI group, most probably IOI Prop Bhd, or its largest shareholder and family patriarch Tan Sri Lee Shin Cheng."
Having made due and diligent enquiry with our directors, we wish to inform the Exchange that to-date, Magnum Corporation Berhad ("Magnum") has not entered into any negotiation with the IOI Group, IOI Prop Bhd, or Tan Sri Lee Shin Cheng, for the disposal of 416 acres of land near Putrajaya owned by Magnum's subsidiary, West Country Sdn Bhd ("Putrajaya Land"). As such, Magnum confirms that the underlined sentences above are untrue.
We also wish to inform the Exchange that we have referred your query to our substantial shareholder, Multi-Purpose Holdings Berhad ("MPHB"), and they have informed us that they have had discussions with Tan Sri Lee Shin Cheng on the possibility of Tan Sri Lee Shin Cheng buying from Magnum, the Putrajaya Land.
Query Letter Contents :
We refer to the above news article appearing in The Edge Malaysia, pages 1 and
51 on Monday, 18 August 2003, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
"Magnum Corp Bhd is believed to be finalising a proposal to dispose of land
near Putrajaya for over RM200 million. Sources said the buyer is either one of
the companies in the IOI group, most probably IOI Prop Bhd, or its largest
shareholder and family patriarch Tan Sri Lee Shin Cheng."
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,
major 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 reported 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 reported article, you are required to set forth facts
sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
LISA LAM
Senior Manager
Listing Operations
LL/WSW/CY
c.c. Securities Commission (via fax)
Announcement Info
Company Name | MAGNUM CORPORATION BERHAD |
Stock Name | MAGNUM |
Date Announced | 19 Aug 2003 |
Category | General Announcement |
Reference No | MM-030819-59352 |