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Announcements

Date : 12 October 2000

Announcement Of Investment

RAPID SYNERGY BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDMN-001009-53650
SubjectAnnouncement Of Investment

Contents :

Reference is made to your letter dated 10 October 2000 ref no:MN-001009-53650 pertaining to the above mentioned.


As requested, we append below the additional information for your attention:-

1. Principal activity of Suileem- to carry on the business of land, housing and building
developers.
2. Payment terms- 10% upon execution of agreement and the balance to be paid within two
months from agreement date with an option to extend to an additional month with an
interest rate of 8 %p.a. on the outstanding amount.
3. Based on the audited accounts as at 30 September 1999:
NTA per share = RM0.75
Loss for the year = RM1,199.00
4. Shareholders' approval not required.
5. Salient features of the agreement are as per item 2 above and that the vendors will
undertake to settle the debts due by Suileem amounting to RM173,266.00.
Valuation of land as at 8 September 2000 owned by Suileem = RM2,280,000.00
Agreement and valuation report can be inspected at :
M & C Services Sdn Bhd
1st Floor (Room 102), Wisma Penang Garden
42 Jalan Sultan Ahmad, 10050 Penang
6. Liabilities assumed by Rapid = RM400.00
7. Cost of investment in Suileem to the vendors and dates of acquisition :

Vendor14/10/7712/4/793/3/8215/6/8415/9/90Total (RM)
Lee Kim Thian193,000123,499216,500
Yap Lan Heong150,00020,000123,499193,500
Tan Soon Lin20,00020,000
Lee Kim Kiew10,00010,000
Lee Kim Teng60,00060,000
TOTAL500,000



Query Letter Contents :


We refer to Rapid's announcement date 3 October 2000 , in respect of the
aforesaid matter.
In this connection, kindly furnish the Exchange with the following additional
information for public release :
1. Description of the business carried on by Suileem Realty Sdn Bhd ("Suileem")
;
2. Terms of any arrangement for the payment on a deferred basis;
3. Net tangible assets per share and net profits of Suileem, based on its
latest audited accounts;
4. Whether the Acquisition is subject to the approval of shareholders and the
relevant government authorities;
5. Salient features of the Sale and Purchase Agreement and valuation report, if
any, and the time and place where such documents may be inspected;
6. Particulars of all liabilities to be assumed by Rapid, arising from the
Acquisition;
7. The original cost of investment in Suileem to the Vendors and the dates of
such investment.
Please furnish the Exchange with your reply within two (2) market days from the
date hereof.

Yours faithfully


TAN YEW ENG
Senior Manager, Listing Operations
LMN\
copy to : Securities Commission (via fax)


Announcement Info

Company NameRAPID SYNERGY BERHAD  
Stock Name RAPID    
Date Announced12 Oct 2000  
CategoryGeneral Announcement
Reference NoC&-001012-53767

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