Article on the EDGE titled "TA Reverts To Stockbroking, Cuts Down On Margin Financing"
| TA ENTERPRISE BERHAD |
| Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | TW-000720-67682 |
| Subject | Article on the EDGE titled "TA Reverts To Stockbroking, Cuts Down On Margin Financing" |
Contents :
Referring to the Kuala Lumpur Stock Exchange’s letter dated 19 July 2000 on the above article, the Board of Directors of TA Enterprise Berhad (“TAE”) would like to make the following clarifications :-
TAE has divested some of its overseas investments such as the TA Bank of Philippines Inc, TA Securities South Africa Ltd, TA Securities Lanka (Pvt) Ltd, TA Securities Australia Pty Ltd and its stake in PT Meridian Capital Indonesia (formerly known as PT TA Ongko Securities) and Global Trust Bank Limited and brought back sale proceeds amounting to approximately RM40 million.
In regard to the sale of its overseas assets, TAE will consider any good offers in future but has not entered into any firm commitments.
Query Letter Contents :
We refer to the above article appearing in theedge.com.my, on Tuesday, 18 July
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:-
"...Thus far, it has "brought back RM50 million" mainly from the sale of its
securities arm in Sri Lanka
and South Africa."
"Up for sale are several more assets that include its banking unit in South
Africa and properties in
Canada and Australia..."
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 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 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
KUALA LUMPUR STOCK EXCHANGE
Chong Fui Tzy
Manager, Listing Operations
ASL/TFM
cc:Securities Commission
Announcement Info
| Company Name | TA ENTERPRISE BERHAD |
| Stock Name | TA |
| Date Announced | 20 Jul 2000 |
| Category | General Announcement |
| Reference No | CU-000720-60525 |