We refer to your letter dated 21 June 2001 in connection with the news article appearing on The Star, Business Section on Thursday, 21 June 2001.
The earnings of Systematic is expected to be doubled in the current financial year as compared to the previous financial year. This is based on the additional earnings above the current level expected from the existing Group derived from the projected earnings of the newly acquired subsidiaries. These new subsidiaries include Berrington Bay Corporation Sdn Bhd, Summit Education Sdn Bhd, Summit Montessori Edu-Care Sdn Bhd, IPPP Batu Lintang Sdn Bhd and IFPA Resources Sdn Bhd.
We hope that we have answered your query satisfactorily.
Query Letter Contents :
We refer to the above news article appearing on The Star, Business Section,
Page 5, on Thursday, 21 June 2001, a copy of which is enclosed for your
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"The earnings of Systematic Education Group Bhd (SEG) are expected to be
doubled in current financial year ending Dec 31 as a result of the mergers and
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 article and in particular the underlined
sentence after due and diligent enquiry with all the directors, substantial
shareholders and all such persons reasonably familiar with the matter about
which the disclosure is to be made in this respect. In the event you deny the
above sentence 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 sentence or any other part of the
above reported article, you are required to set forth facts sufficient to
support the same, including the relevant basis and assumptions in arriving at
the above forecast.
Please furnish the Exchange with your reply within one (1) market day from the
Tan Yew Eng
c.c Securities Commission