1. PARTNERSHIP AGREEMENT BETWEEN REDIFFUSION BERHAD (“RB”) AND CYBERSIA.COM INC. (“CYBERSIA”) FOR CONVERSION OF ADVERTISING COST INCURRED BY CYBERSIA IN RB’S RADIO STATION INTO EQUITY SHARES IN CYBERSIA. 2. PARTNERSHIP AGREEMENT BETWEEN RB AND JIC.NET SDN. BHD. (“JIC”) FOR EQUITY PARTICIPATION IN INFORMATION TECHNOLOGY PROJECTS.
REDIFFUSION BERHAD |
Contents :
We refer to your letter of 21st April 2000 and are pleased to provide herewith the required additional information as follows:
1. The Partnership Agreement between RB and Cybersia
- 1.1 The partnership is based on the fact that RB can provide Cybersia an avenue in the form of airtime in RB’s radio station to advertise and promote Cybersia’s Online Chinese Services. The Partnership Agreement provides that Cybersia can pay for its advertising costs in RB’s radio station which shall be limited up to RM1,000,000 by way of equity shares in Cybersia at the rate of US$2.50 per Cybersia share.
1.2 The current stage of the development of the partnership is developmental i.e. Cybersia is currently negotiating the advertising costs contained in promotion proposals submitted by RB’s radio station i.e. Radio Rediffusion Sdn. Bhd.
1.3 There was no feasibility studies undertaken.
1.4 This is not applicable.
1.5 The partnership will contribute RM1 million to RB Group Turnover during the Partnership Agreement period of 6 months from the Agreement date i.e. 23rd March 2000 assuming Cybersia utilizes the whole RM1 million limit as stated in the agreement.
1.6 This is not applicable.
1.7 If Cybersia advertises in RB’s radio station to promote its Online Chinese Services, the financial risk to RB is the downward fluctuations of Cybersia’s share from US$2.50 per Cybersia share.
1.8 This is not applicable.
1.9 This is not applicable.
2. The Partnership Agreement between RB and JIC
Under this Partnership Agreement, JIC will offer RB investment opportunities to participate in e-commerce projects successfully developed by JIC and ready for commercialisation. At this moment in time, RB has not received any offers from JIC and therefore, additional information requested as per 2.1 to 2.12 are not applicable. We will provide the relevant information if RB accepts an offer from JIC in the future to participate in e-commerce projects for which separate agreement is required to be executed by RB and JIC.
Please do not hesitate to contact us should you require further information.
Announcement Info
Company Name | REDIFFUSION BERHAD |
Stock Name | RFUSION |
Date Announced | 25 Apr 2000 |
Category | General Announcement |
Reference No | CC-000425-9C844 |