Contents :
We refer to your letter of November 7, 2000.
Further to the announcement made by the Company on October 24, 2000, we furnish herewith the following information :-
1. Aggregate value of the consideration
The aggregate value of the consideration is AUD58.5 million.
2. Net Book Value of the assets of Bluemint Pty Limited
Bluemint Pty Limited ("Bluemint") is a company newly incorporated for the sole purpose of investing in the transmission assets of ElectraNet. The net book value is AUD980 million, being the aggregate of the value of the transmission assets of AUD938 million and the incidental costs incurred for the bid and fees for the project financing arrangements
3. Net Profits and Net Tangible Assets attributable to Bluemint and ETS
As explained under item 2 above, Bluemint is a newly incorporated company and as such do not have a profit track. However, the net tangible asset of Bluemint is AUD216.5 million.
ETS is also a company newly incorporated to operate and manage the transmission assets. Accordingly, there is no profit track record and the net tangible asset is AUD10,000.00.
4. Particulars of liabilities to be assumed by YTL Power arising from the proposed acquisition
No liabilities will be assumed by YTL Power in the proposed acquisition.
5. Original cost to the vendor and the date of the investment
The original cost to the vendor, Macquarie of the 33% stake in Bluemint and ETS is AUD58.5 million. The date of investment for Macquarie is October 31, 2000.
We trust the above meets your requirement.
Yours faithfully
YTL POWER INTERNATIONAL BERHAD
HO SAY KENG
Company Secretary
c.c. Securities Issues Department
Securities Commission
Fax No. 03 651 5213/1818
Query Letter Contents :
We refer to your announcement dated 24 October 2000, in respect of the
aforesaid matter.
In this connection, kindly furnish the Exchange with the following additional
information for public release :
1. The aggregate value of the consideration including the terms of any
arrangement for
payment on a deferred basis.
2. The net book value of the assets which are subject of the transaction.
3. The net profits and net tangible assets attributable to Bluemint and ETS
based on the latest audited accounts.
4. The particulars of all liabilities to be assumed by the company arising from
the proposed
acquisitions, if any.
5. The original cost of investment to the vendor and the date of such
investment.
Please furnish the Exchange with your reply within two (2) market days from the
date hereof.
Yours faithfully
INDERJIT SINGH
Senior Manager
Listing Operations
IS/NIK