ARTICLE ENTITLED: "It's business as usual, says EON"
| EDARAN OTOMOBIL NASIONAL BERHAD |
| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | SW-001220-61439 |
| Subject | ARTICLE ENTITLED: "It's business as usual, says EON" |
Contents :
We refer to your query dated 20 December 2000 quoting news article appearing in Business Times, pages 1 & 24, on Tuesday, 19 December 2000 in particular the sentences that read as follows :
1. "THERE is no change in the distributorship arrangement between Edaran Otomobil Nasional Bhd (EON) and Perusahaan Otomobil Nasional Bhd (PROTON) for next year....."
2. ".....EON will continue to distribute Proton cars on an equal basis with PROTON's wholly-owned USPD for years to come."
3. "Business Times reported last week that USPD would maintain sole distribution rights for all subsequent models to be produced by PROTON after the Waja, and that EON would only continue to sell the existing models."
4. ".....EON will continue to distribute not only the current models but also future Proton cars, but it has no intention of distributing other makes."
We wish to advise that negotiations on the Distributorship Agreement between PROTON and EON are ongoing and an announcement on this matter will be made at the appropriate time.
In the meantime, EON will continue to distribute Proton cars under the prevailing arrangement agreed between the parties.
Query Letter Contents :
We refer to the above news article appearing in Business Times, pages 1 & 24,
on Tuesday, 19 December 2000, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentences
which are reproduced as follows:-
1. "THERE is no change in the distributorship arrangement between Edaran
Otomobil Nasional Bhd (EON) and Perusahaan Otomobil Nasional Bhd (Proton) for
next year..."
2. "...EON will continue to distribute Proton cars on an equal basis with
Proton's wholly-owned USPD for years to come."
3. "Business Times reported last week that USPD would maintain sole distribution
rights for all subsequent models to be produced by Proton after the Waja, and
that EON would only continue to sell the existing models."
4. "...EON will continue to distribute not only the current models but also
future Proton cars, but it has no intention of distributing other makes."
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 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
LISA LAM
Senior Manager, Listing Operations
YYT/KLL/SW
c.c. Securities Commission (via fax)
Announcement Info
| Company Name | EDARAN OTOMOBIL NASIONAL BERHAD |
| Stock Name | EON |
| Date Announced | 21 Dec 2000 |
| Category | General Announcement |
| Reference No | CU-001221-39895 |
