INVESTOR RELATIONS

FORM OF NOTICE OF CONVERSION OF 5-YEAR 3.5% REDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS ("RCULS" OR "BARAKAH-LA")

BURSA ANNOUNCEMENTS
Date : 19 October 2000

Article Entitled "Stocks On A Spin"

PRIME UTILITIES BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDZO-001018-41147
SubjectArticle Entitled "Stocks On A Spin"

Contents :

We refer to your letter dated 18 October 2000.


With reference to the article referred to in your letter aforesaid, the Board of Directors of the Company wish to inform as follows:-

(a) The Company has no knowledge and/or information as regards the "new owner" of Idris, save for such details and/or information as may have been published accurately or otherwise in the media. The Company is not in a position to verify nor make enquiries as to the "owner" of Idris.

(b) It is not clear what is meant by ".... preserve the value of the company...." appearing in the said article. If the reference therein to "the company" means "Idris", the Company is in no position to verify the value of Idris nor make enquiries in relation thereto. If the reference therein to "the company" means "Prime Utilities Berhad", the Company states that there is no connection between the aforesaid phrase and the phrase following thereafter, namely "...... calling off the sale of Prime Utilities......".

(c) Additionally, the Company states that any sale of shares in the Company by any of its shareholders to any third party does not involve the Company. The relevant parties to any such sale and purchase are obliged to submit the necessary notifications to the Company for reporting purposes only.

(d) Accordingly, the Company is respectfully of the opinion that the matters reported in the said article, including the underlined portions thereof, are substantially irrelevant to the Company.

Nevertheless, the Company has forwarded your letter aforesaid to Idris Hydraulic (Malaysia) Berhad ("IHMB") for their comments. As at the time of this response, the Company has received a letter from IHMB at approximately 4.35 p.m. (a copy of which is attached herewith).

ihmb8.ai

Query Letter Contents :


We refer to the above news article appearing in The Sun, Sun Biz, page 20 , on
Wednesday, 20 October 2000, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which are reproduced as follows:-
"Idris' new owner who claimed to want to preserve the value of the company by
calling off the sale of Prime Utilities to Utusan Jutabina ..."
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 sentence 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 sentence 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 sentence 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
KUALA LUMPUR STOCK EXCHANGE


LISA LAM
Senior Manager, Listing Operations
LL/ASL/ZOOS
c.c. Securities Commission (via fax)

Attachments

ihmb8.ai
1083 KB



Announcement Info

Company NamePRIME UTILITIES BERHAD  
Stock Name PRIME    
Date Announced19 Oct 2000  
CategoryGeneral Announcement
Reference NoPU-001019-52952

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