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Announcement

Announcement


Date : 11 April 2000

ARTICLE ENTITLED: "I-Bhd aims to create Internet smart homes"

I-BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDPL-000410-50937
SubjectARTICLE ENTITLED: "I-Bhd aims to create Internet smart homes"

Contents :

We refer to your facsimile dated 10th April 2000 regarding the article in The Star, Business section, page 5, on 10th April 2000. The article was the result of a meeting between the Company's Chairman Mr Lim Kim Hong and The Star over the views presented in the Sumurwang Group's newsletter, the "Bridge" Vol. 8.


The newspaper article extracted many of the phrases and clauses from the Bridge. We wish to point out that I-Berhad had already announced the Company's intention to venture into the manufacture and sale of computers and computer peripherals on 3 March 2000. As such, The STAR article is consistent with its earlier public announcement. Please note that notwithstanding the title of the article in The STAR, there was no mention about I-Bhd's plan to venture into the internet business at this stage.

We reproduce below our announcement made on 3 March 2000 and attach herewith a copy of the "Bridge" for your reference.

ANNOUNCEMENT MADE ON 3 MARCH 2000
- DISPOSAL OF SHARES IN PENSONIC HOLDINGS BERHAD

*Contents :-

We refer to the Company's announcement dated 16 February 2000 in respect of the above matter.

The Company had announced that in January 1998, it acquired 2,000,000 ordinary shares of RM1.00 each in Pensonic Holdings Berhad ("Pensonic") representing 9.38% equity in Pensonic through the open market for a total cash consideration of RM9,000,000 or RM4.50 per share.

Pensonic is principally involved in the manufacturing, assembling, wholesale and trading of electronic and electrical products under the Pensonic brand and is listed on the Second Board of the Kuala Lumpur Stock Exchange.

In embarking on its own expansion plans, the Company subsequently disposed of its entire shareholding in Pensonic between 12 December 1999 and 16 February 2000 through the open market (as per its announcement dated 16.2.2000) for a net cash consideration of RM12.768 million.

The above disposal generated an extraordinary gain of RM3.8 million for the Company and is expected to have a material effect on both the earnings per share and net tangible assets per share of the Company for the financial year ending 31 December 2000.

About RM10 million of the additional cash generated would be invested in a new subsidiary to be incorporated. The intended principal activities of the proposed subsidiary will be the manufacture and sales of computer and computer related peripherals.

The said disposal is subject to shareholders' approval and ratification at a general meeting to be convened. None of the Directors and substantial shareholders of the Company has any interest, direct or indirect in the said transaction.


bridge1.pdfbridge2.pdfbridge3.pdfbridge4.pdf

Query Letter Contents :


We refer to the above article appearing in The Star, Business section, page 5,
on 10 April 2000, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which is reproduced as follows:-
"We propose to diversify into the IT industry and our objective is to use this
technology as a building block for the hi-tech computerised home,"
"Lim said the company would probably venture into the IT hardware industry by
developing, assembling and selling the finished products under the i brand
name."
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 reported
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 reported 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
SA/TPL
c.c. Securities Commission

Attachments

bridge1.pdf
944 KB

bridge2.pdf
956 KB

bridge3.pdf
947 KB

bridge4.pdf
1100 KB



Announcement Info

Company NameI-BERHAD  
Stock Name IBHD    
Date Announced11 Apr 2000  
CategoryGeneral Announcement
Reference NoII-000411-33415
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