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Further to our reply of 27 April 2000 to your query letter of 25 April 2000, we would like to clarify that there is no need for Dijaya Enterprise Bhd ("DEB") to enter into any formal management agreement with 1800Assist.com Sdn Bhd ("1800Assist") as it is the normal course of business for both MOL and 1800Assist to enter into contract for services such as server hosting, website maintenance and content development. DEB has only made arrangement for 1800Assist to proceed with the management of the mol.com portal for the DEB Group synergy purpose. Likewise, MOL can also provide its services such as hyperlinks to 1800Assist to enhance 1800Assist portal presence.
However, in addition to the statement made by the Board of Directors disclosed under paragraph 9.0 of the subject announcement dated 21 April 2000, the Board would like to further state that the Proposed Acquisition is in the best interest of the DEB Group
Query Letter Contents :
We refer to your announcement dated 17 April 2000 in respect of the aforesaid
matter.
In this connection, kindly furnish the Exchange with the following information
for public release:-
1. The date on which the Share Sale Agreement was entered into.
2. The net tangible assets and net profits of Mol based on the latest audited
accounts.
3. Salient features of the Share Sale Agreement and management arrangement
agreement with 1800Assist.com Sdn Bhd and the time and place where such
documents may be inspected.
4. The names of the directors and substantial shareholders of Jobstreet.com Pte
Ltd and their respective shareholdings therein.
5. Whether any persons connected with the directors and/or substantial
shareholders, have any interest, direct or indirect, in the Proposed
Acquisition.
6. Particulars of all liabilities to be assumed by your Company, arising from
the Proposed Acquisition.
7. The original cost of investment in Mol to the vendors and the date of such
investment.
8. The weighted average market price for the equity share capital of your
Company for the 5 market days prior to the date on which the Share Sale
Agreement was entered into.
9. A statement by the Board of Directors stating whether or not the Proposed
Acquisition is in the best interests of the Company, and where a director
disagrees with such statement, a statement by the director setting out the
reason(s) and the factor(s) taken into consideration in forming that opinion.
Please furnish the Exchange with your reply within two (2) market days from the
date hereof.
Yours faithfully
KUALA LUMPUR STOCK EXCHANGE
LISA LAM
Senior Manager, Listing Operations
WSW
