Company announcements

Contents :

We refer to your letter dated 11 May 2000.

We wish herewith announce to you the information as per requested:-

(1) The date when the petition was served on Man Yau Plastic History is on 8 May 2000.

(2) The amount claimed for under the petition is RM257,872.48 together with cost of RM225.00.

(3) The details of the default or circumstances leading to the filing of the winding-up petition:

plastic operations ceased on 26 November 1998 and unable to settle bills. The Holdings Company, Man Yau Holdings Bhd was placed under CDRC in November 1998.

(4) The operational and financial impact on the Group, if any, arising from the aforesaid petition:

No operational and financial impact on the Group as secured creditors will have first right to any proceeds.

(5) The expected loss

There is no expected loss.

(6) The steps that the Company will take with regard to the winding-up petition:

We are trying to convince the particular creditor that they will have a change of some repayment if they allow the Holdings Company, Man Yau Holdings Bhd to complete its restructuring exercise.

We refer enclosed herewith the following for your attention:

(1) Balance Sheet of MYPF for the year ended 31 December 1999.

(2) Profit and Loss Account of Man Yau Plastic Factory for the year ended 31 December 1999.

(3) Ratio of the total asset of Man Yau Plastic Factory as against the Company (2.34) : (0.198).

(4) Ratio of Man Yau Plastic Factory's losses against the Company - (4,575,261) : (21,935,147).

Query Letter Contents :

We refer to the Notice of Winding-Up Petition, appearing in the The Star on
Thursday, 11 May 2000, a copy of which is enclosed for your reference.
In this connection, kindly furnish the Exchange immediately with the following
additional information for public release:-
1
The date when the petition was served on Man Yau Plastic Factory (M) Sdn Bhd.
2 The amount claimed for under the petition.

3 The details of the default or circumstances leading to the filing of the
winding-up petition.

4 The operational and financial impact on the Group, if any, arising from the
aforesaid petition.

5 The expected losses, if any.

6 The steps that your Company will take with regard to the winding-up petition.




Yours faithfully
KUALA LUMPUR STOCK EXCHANGE

Tan Yew Eng
Senior Manager, Listing Operations
SA/LPY
c.c. Securities Commission
c.c. Securities Commission