Contents :
We refer to the letter dated 25 April 2001 on the above matter.
The Company informs that it has received approaches to buy one of its assets. If and when any agreement is reached, an appropriate announcement will be made.
The Company also informs that it is constantly exploring ideas, including the rationalization of its businesses, to create shareholders’ value. However, none of these ideas have reached a stage requiring announcement.
This announcement is dated 26 April 2001.
Query Letter Contents :
We draw your attention to the sharp increase in price and high volume in your
Company’s shares recently.
In accordance with Section 338 of the Listing Requirements on the Corporate
Disclosure Policy on Response to Unusual Market Action, kindly advise the
Exchange immediately the following for public release upon due inquiry:-
1. whether there is any material development in your Company’s business and
affairs not previously disclosed.
2. whether there is any impending change in the major shareholders.
3. whether in your knowledge, any other reasons to account for the unusual
market action.
You are reminded that pursuant to Section 335 of the KLSE’s Listing
Requirements, the following situations/events (which are not exhaustive)
require prompt disclosure:
§ a joint venture, merger or acquisition;
§ the declaration or omission of dividends or the determination of earnings;
§ the acquisition or loss of a significant contract of franchise;
§ a change in control or a significant change in management;
§ a call of securities of redemption;
§ the borrowing of a significant amount of funds;
§ the public or private sale of significant amount of additional securities;
§ significant litigation;
§ the purchase or sale of a significant asset;
§ a significant change in capital investment plans;
§ a significant labour dispute or disputes with sub-contractors or suppliers;
§ a tender offer for another company’s securities;
§ an event of default on interest and/or principal payments in respect of
loans;
§ a proposed rights, bonus, loan stocks or special issues;
§ a proposed offer for sale of warrants or other securities.
In addition, any Memorandum of Understanding (MOU) entered into or to be
entered into pursuant to any significant business activity must be disclosed.
If the MOU is not intended to be a legally binding document at this stage, you
are required to disclose the expected time in which a legally binding
agreement will be executed by the relevant parties.
Kindly declare that none of the above listed situations/events contributed to
the unusual market action activities in your Company’s shares during the period
in question upon due inquiry.
You are also reminded that if you are aware or become aware of any rumour or
report (whether true or false) which contains information which is likely to
have an effect on the trading of your company’s securities, you are required
to publicly clarify the rumour or report as soon as possible.
Your reply should be in conformity with the Exchange’s Corporate Disclosure
Policy, in particular, Sections 336, 341 and 342 of the KLSE’s Listing
Requirements and is to reach the Exchange within one (1) market day from the
date of this letter via KLSE Listing Information Network (“KLSE LINK”).
Yours faithfully
TAN CHUN WENG
Senior Vice President
Financial Review & Surveillance
Listing Group
