Bursa Announcements
Date : 04 January 2011
FURQAN BUSINESS ORGANISATION BERHAD ("FBO" or "the Company") - DISPOSAL OF INVESTMENT IN DISCOVER ORIENT HOLIDAYS SDN. BHD.
| FURQAN BUSINESS ORGANISATION BERHAD |
| Type | Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | TE-101230-54629 |
| Subject | FURQAN BUSINESS ORGANISATION BERHAD ("FBO" or "the Company") - DISPOSAL OF INVESTMENT IN DISCOVER ORIENT HOLIDAYS SDN. BHD. |
| Contents | Reference is made to the Company's announcement made on 29 December 2010 in relation to the disposal of investment in Discover Orient Holidays Sdn. Bhd. and the letter dated 3 January 2011 from Bursa Malaysia Securities Berhad. |
| Query Letter Content | We refer to your announcement dated 29 December 2010 in respect of the abovecaptioned matter. In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:- (1) The manner in which the said Consideration will be satisfied including the terms of any arrangement for payment on a deferred basis. (2) The net assets and net profit of DOH based on its latest audited accounts. (3) The expected gains or losses to the Furqan Business Organisation Berhad ("FBO") group arising from the Disposal. (4) The intended application of the sale proceeds and the breakdown, including the time frame for full utilisation of the proceeds. (5) The particulars of all liabilities to be assumed by Matrix Merchant Sdn Bhd arising from the Disposal. (6) The original cost of investment by FBO in the 200,000 ordinary shares in DOH, and the date of such investment. (7) The effects of the Disposal on the gearing and net assets per share of the FBO group. (8) Whether the Disposal is subject to the approval of the relevant authorities and the estimated time frame for submission of the application to the relevant authorities. (9) The highest percentage ratio applicable to the Disposal pursuant to paragraph 10.02(g) of the Main Market Listing Requirements. (10)The time and place where the Share Purchase Agreement may be inspected. Kindly furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully TAN YEW ENG Head, Issuers Listing Division Regulation TYE/TEK c.c:- Head, Market Surveillance Department, Market Supervision Division, Securities Commission (via fax) |
Please refer to attached file. | |
Announcement Info
| Company Name | FURQAN BUSINESS ORGANISATION BERHAD |
| Stock Name | FBO |
| Date Announced | 4 Jan 2011 |
| Category | General Announcement |
| Reference No | CA-110104-34549 |
