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We refer to your letter of 24 February 2000 and wish to inform the Exchange that a shareholder in an associate company, Oxford Media Sdn Bhd, has disposed of part of its equity interest to Pica dotCom Sdn Bhd, a wholly-owned subsidiary of Pica (M) Corporation Berhad on 23 February 2000. Apart from that, we would advise that :-
- There is no material development in our Company's business and affairs not previously disclosed.
- There is no impending change in major shareholders.
- We are not aware of any other reason to account for the unusual market action.
We also declare that, to the best of our knowledge, none of the situations/events listed in your letter under reply contributed to the sharp increase in price in our Company's shares on 24 February 2000.
