(i) Article Entitled "MMC To Revamp Inactive Units To Keep Listing Status" (ii) Article Entitled "Mining Giant Rio Tinto Gets Canberra Approval For Ashton Bid"
| MALAYSIA MINING CORPORATION BERHAD |
Contents :
We refer to your fax dated 2 October 2000 on the above.
(i) Article Entitled " MMC To Revamp Inactive Units To Keep Listing Status"
We wish to advise that MMC has always been looking into possibility of restructuring companies within the Group. In this regards, MMC will support its subsidiary, Kramat Tin Dredging Berhad to identify suitable business opportunities from within and outside the MMC Group. At the moment of time, MMC has no plan to use Kramat for the backdoor listing of Gas Malaysia Sdn Bhd, an associate company of MMC.
(ii) Article Entitled "Mining Giant Rio Tinto Gets Canberra Approval For Ashton Bid"
MMC whishes to confirm, after being advised by Ashton Mining Ltd ("Ashton"), that Rio Tinto Ltd has secured the approval of regulatory authorities including the Australian Foreign Investment Review Board in relation to the offer bid for all the issued and paid up share capital of Ashton in a cash transaction valued at AUD1.85 per Ashton share.
Thank you.
Yours faithfully,
MALAYSIA MINING CORPORATION BERHAD
DARMAWATTI DAHARI
Group Company Secretary
Query Letter Contents :
We refer to the articles appearing in page 1 of the Business Times newspaper
on Monday 2 October 2000 and page 3 of the Business Section of The Star
newspaper on Saturday 30 September 2000, a copy each 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 :
BusinessTimes
"Kramat...could well be a prime candidate to serve as a backdoor listing
vehicle of some other profitable MMC subsidiary...the subsidiary in question
may be Gas Malaysia Sdn Bhd..."
The Star
"International mining giant Rio Tinto Ltd has got the jump on rival De Beers in
their takeover battle for diamond miner Ashton Mining Ltd, winning the
Australian Foreign Investment Review Board (FIRB) approval for its A$596mil
offer."
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 articles 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 reported sentences or any other part of the articles, you are
required to set forth facts sufficient to clarify any misleading aspects of the
same. In the event you confirm the above reported sentences or any other part
of the articles, 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
INDERJIT SINGH
Senior Manager
Listing Operations
ASL/NIK
Copy to: Securities Commission (via fax)
Announcement Info
| Company Name | MALAYSIA MINING CORPORATION BERHAD |
| Stock Name | MMCCORP |
| Date Announced | 3 Oct 2000 |
| Category | General Announcement |
| Reference No | MM-001003-61125 |
