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Announcements

Date : 05 May 2000

CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER 1999

ABRIC BERHAD

Type

Reply to query
Reply to Query Letter by KLSE reference IDKH-000425-41011
SubjectCONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER 1999

Contents :



We refer to your letter of 2 May 2000 on the subject matter.

We are pleased to enclose in the Attachment an analysis of the variances between the actual consolidated profit after tax and minority interest (MI) of RM10,116,027 and the forecast consolidated profit after tax and MI of RM8,356,000 for the year ended 31 December 1999.

As shown in the Attachment, the actual profit before tax (PBT) of RM11,205,740 did not deviate significantly from the forecast PBT of RM10,746,212. The higher profit after tax and MI of RM10,116,027 as compared to the forecast profit after tax and MI of RM8,356,016 is mainly attributable to the waiver of tax payable on chargeable income earned in the basis year 1999, the waiver of which was not taken into account in the forecast profit after tax and MI for the year ended 31 December 1999. This is because the Income Tax (Amendment) Act, 1999 giving rise to the said tax waiver has not been gazetted at the time of compilation of the consolidated profit forecast for inclusion in the Company’s Prospectus dated 2 December 1998.

Please do not hesitate to contact us should you need further clarification on the foregoing matters.

To view the table/image, plase refer to the attachment.

ABRIC (CU-000505-57800).pdf

Query Letter Contents :


We refer to your Company's announcement in respect of the abovecaptioned
matter.
We note that the group's profit after taxation and minority interests for the
year ended 31 December 1999 amounts to RM10,116,000.
However, on page 58 of your Company's Prospectus dated 2 December 1998, a
consolidated profit after taxation and minority interests of RM8,356,000 was
forecasted for the abovementioned financial year.
In accordance with the Exchange's Listing Requirements, kindly furnish the
Exchange immediately with your detailed explanation on the above difference for
public release.

Yours faithfully
KUALA LUMPUR STOCK EXCHANGE


LATIFAH HJ MOHD YUSOF TAN YEW ENG
Senior Vice President, Listing Operations Senior Manager, Listing Operations
WR/KHB

Attachments

ABRIC (CU-000505-57800).pdf
47 KB



Announcement Info

Company NameABRIC BERHAD  
Stock Name ABRIC    
Date Announced5 May 2000  
CategoryGeneral Announcement
Reference NoCU-000505-57800

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