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Announcements

Date : 02 August 2000

ARTICLE ENTITLE "TAKING GIANT STEPS MORE PROPERTY COMPANIES LIKELY TO MERGE, TALAM AND LARUT BE NEXT"

NEGARA PROPERTIES (M) BHD

TypeReply to query
Reply to Query Letter by KLSE reference IDMJ-000731-60632
SubjectARTICLE ENTITLE "TAKING GIANT STEPS MORE PROPERTY COMPANIES LIKELY TO MERGE, TALAM AND LARUT BE NEXT"

Contents :



ARTICLE ENTITLE “TAKING GIANT STEPS MORE PROPERTY COMPANIES LIKELY TO MERGE, TALAM AND LARUT BE NEXT”


We refer to your letter of July 31, 2000, and to our letter of August 2, 2000.

We refer specifically to the 2 sentences of the above news Article appearing in The Edge on July 31, 2000, which were reproduced in your letters, and would advise as follows:

1. “PNB owns controlling or majority stakes in listed property companies Island & Peninsular Berhad …, Sime UEP Properties Berhad, and Negara Properties (M) Bhd…,”

      We would confirm that as at July 31, 2000, PNB is a substantial shareholder of Golden Hope Plantations Berhad (Golden Hope), the holding company of Negara Properties (M) Berhad (Negara Properties) with a direct equity interest of 16.84% (in Golden Hope).

      Golden Hope is a majority shareholder of Negara Properties with a 56.48% direct equity interest as at July 31, 2000.

      Premised on the above therefore, the sentence is “correct” to the extent that, although PNB does not have a direct majority interest in Negara Properties, it is and can be deemed to have a substantial stake in Negara Properties; albeit, an indirect interest, through its shareholding in Golden Hope.
2. “There has been talk that PNB is planning to consolidate its diverse property interests”
      We would confirm that at this juncture, we are, to the best of our knowledge, not aware of any proposal by PNB to “consolidate its direct business interests”.

      We trust the above explanation is sufficient. Please do not hesitate to contact the undersigned for any clarification

      Thank you.



      Yours faithfully
      NEGARA PROPERTIES (M) BERHAD



      Norlin Abdul Samad
      Secretary

Query Letter Contents :

We refer to the above news article appearing in The Edge, Cover Story Section,
page 60 on Monday, 31 July 2000.
In particular, we would like to draw your attention to the following sentences
of the above article which are reproduced as follows:-
" PNB owns controlling or majority stakes in listed property companies Island
& Peninsular Bhd...., Sime UEP Properties Bhd....., and Negara Properties (M)
Bhd..."
" There has been talk that PNB is planning to consolidate its diverse property
interests."
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 above
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 sentences 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 sentences 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

Inderjit Singh
Senior Manager, Listing Operations
ASL /CMJ
cc: Securities Commission
(Attn: Encik Onn Ismail, Market Surveillance Department)



Announcement Info

Company NameNEGARA PROPERTIES (M) BHD  
Stock Name NEGARA    
Date Announced2 Aug 2000  
CategoryGeneral Announcement
Reference NoNP-000802-62316

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