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We refer to the Exchange's query dated 5 August 2003 in respect of the article entitled "Time shares rise on talk of IT job" appearing in The Sun, page 15 on 5 August 2003.
We wish to inform that TIME Engineering Berhad ("the Company") has submitted a proposal to the Government in the second quarter of 2003. Todate, the Company has not received any written confirmation from the Government on the outcome of the proposal. Accordingly, the Company has not made any decision on financing options for the proposal.