ARTICLE ENTITLED "A clean slate - DRB-HICOM merger plan will reduce debts and improve cash flow"
|GADEK CAPITAL BERHAD|
|Type||Reply to query|
|Reply to Query Letter by KLSE reference ID||PL-000307-56770|
"A clean slate - DRB-HICOM merger plan will reduce debts and improve cash flow"
Contents :According to the article, the statement was reportedly made by "a local brokerage firm" commenting on the estimated proceeds to be received by the DRB-HICOM group which includes the proceeds of about RM300 million from the sale of Credit Corporation (Malaysia) Berhad (CCM) to Hong Leong Bank Berhad (Hong Leong).
In response, we wish to confirm that Gadek Capital Berhad has announced the proposed merger between CCM and Hong Leong on 24 February 2000.
However, we are currently not in a position to provide further information on the said proposed merger as approvals from the relevant authorities are still pending.
c.c. Issues and Investment Division
Fax No. : 03 - 6515213
Query Letter Contents :
We refer to the above article appearing in The Edge, page 4 and 26, Monday, 6
March 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:-
"... proceeds from sales of other assets include about RM300 million from the
sale of CCM to Hong Leong Bank ..."
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 sentence 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 reported sentence, you
are required to set forth facts sufficient to clarify any misleading aspects of
the same. In the event you confirm the above reported sentence, 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
KUALA LUMPUR STOCK EXCHANGE
Chong Fui Tzy
Manager, Listing Operations
c.c. Securities Commission
|Company Name||GADEK CAPITAL BERHAD|
|Stock Name||G CAP|
|Date Announced||8 Mar 2000|