ARTICLE ENTITLED: C&C Bintang sole rights to distribute Mercedes "shaky"
CYCLE & CARRIAGE BINTANG BERHAD |
Type | Reply to query |
Reply to Query Letter by KLSE reference ID | ME-010305-40130 |
Subject | ARTICLE ENTITLED: C&C Bintang sole rights to distribute Mercedes "shaky" |
Contents :
We refer to your enquiry pertaining to the above matter. We wish to clarify that we have first mentioned about Daimler Chrysler's interest in participating in the Mercedes-Benz wholesale business in our quarterly announcement of results under the section entitled "Other Development" on 21 February 2000 as follows:
- "The supplier of Mercedes-Benz products, Daimler Chrysler AG has been pursuing an active participation in the wholesale business in various countries in the region. For some of these countries, the arrangements are in an advanced stage. In Malaysia, Daimler Chrysler AG has begun preliminary discussions on their interest in participating in the Mercedes-Benz wholesale business. The discussions are at an early stage and are still uncertain but in any event, the outcome would need to be in line with the regulatory framework of Malaysia."
The same statement was made in the Chairman's Statement in our 1999 Annual Report. In our subsequent announcements of quarterly results, we have mentioned the same and that there were no significant developments on the matter.
In our latest announcement of results dated 20 February 2001, we have mentioned the following in the section on "Other Development":
- "As reported previously, Daimler Chrysler AG has been pursuing an active participation in the wholesale business in various countries in the region. Daimler Chrysler AG has indicated their interest in participating in the Mercedes-Benz wholesale business. At the date of this report, there was no significant development yet on the matter."
We trust the above clarify the matter.
Yours faithfully
CYCLE & CARRIAGE BINTANG BERHAD
DATUK HJ. MOHAMAD HJ. HASAN
MANAGING DIRECTOR
Query Letter Contents :
We refer to the above article appearing in Business Times, page 1 on Monday, 5
March 2001, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"CYCLE & Carriage Bintang (C&C Bintang) Bhd's sole distribution rights for
Mercedes-Benz vehicles in Malaysia appears "shaky" amid DaimlerChrysler AG's
revamp of its marketing operations in the region."
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 sentence 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 sentence or any other part of the above article, you
are required to set forth facts sufficient to clarify any misleading aspects of
the same. In the event you confirm the above sentence or any other part of the
above 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
Chong Fui Tzy
Manager, Listing Operations
IS/YYT/MEM
cc:Securities Commission (via fax)
Announcement Info
Company Name | CYCLE & CARRIAGE BINTANG BERHAD |
Stock Name | CCB |
Date Announced | 8 Mar 2001 |
Category | General Announcement |
Reference No | CU-010308-54950 |