Sin Chew Daily (12 April 2003) article entitled: "Win-Win Deal For Commerz And NSTP"
| COMMERCE ASSET-HOLDING BERHAD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | FM-030414-42317 |
| Subject | Sin Chew Daily (12 April 2003) article entitled: "Win-Win Deal For Commerz And NSTP" |
Contents :
We refer to your query dated 14 April 2003 on the above.
Under the provisions of The Insurance Act 1996 prior written approval of the Minister of Finance is required for any proposed transaction of shares in an insurance company.
CAHB has submitted a request to Bank Negara seeking their permission to commence discussion with NSTP.
The appropriate announcement will be made upon receipt of such approval.
c.c. Securities Commission
Query Letter Contents :
We refer to the above article appearing in the Sin Chew Daily, Sin Chew
Business, page 4,
on Saturday, 12 April 2003, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentences
which state that
" Commerce Asset-Holding Berhad will undertake a general offer to acquire AMI
Insurance from
The New Straits Times Press (Malaysia) Berhad for an expected consideration of
between
RM170 million to RM180 million".
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,
major 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
CHONG FUI TZY
Senior Manager
Listing Operations
HTH/WSW/TFM
Copy to : Securities Commission (via fax)
Announcement Info
| Company Name | COMMERCE ASSET-HOLDING BERHAD |
| Stock Name | COMMERZ |
| Date Announced | 16 Apr 2003 |
| Category | General Announcement |
| Reference No | CA-030416-41663 |
