Company Announcements

Date : 27 February 2001

The Star Article dated 26 February 2001


TypeReply to query
Reply to Query Letter by KLSE reference IDMJ-010226-43309
SubjectThe Star Article dated 26 February 2001

Contents :

    We refer to the above and our comments on your queries are as follows :
1. We have all this while been trying to dispose some of our properties to reduce our borrowings. This is not something new and had been mentioned in our past AGMs and annual reports.
      Our 3 major buildings are the Holiday Plaza, Lien Hoe Complex and Hotel Armada. Since we are keeping the hotel, it is our intention to dispose of one of the two major complexes. We have however not entered into any agreement with any party at this stage.

2. We have also been on the lookout for medium sized hotels in the region of RM60 m to RM100 m in the country to complement our Armada Hotel. Ideal locations would be Penang and Johor. However, nothing has materialised as yet.

3. The Puchong land refers to the Billiontex Industries Sdn Bhd and Rusella Teguh Sdn Bhd acquisition which were recently approved by our shareholders at the Extraordinary General Meeting on 23 November 2000.

Query Letter Contents :

We refer to the above news article appearing in The Star, Business Section,
Page 15 on Monday, 26 February 2001.
In particular, we would like to draw your attention to the following sentences
of the above article which are reproduced as follows:-
" ........the possibility of acquiring a Penang-based hotel valued at RM60mil
as well as disposing of one of our selective property assets in Johor
"......the proposed disposal of either the Lien Hoe Complex or Holiday Plaza
in Johor Bahru............which could fetch more than RM 100 mil each ......."
"Another massive project in the pipeline is the development of the proposed
RM2bil, 100-acre KL South City commercial project in Ayer Hitam Megatown,
Puchong, Selangor,.... "

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 above
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

Senior Manager,
Listing Operations
Copy to: Securities Commission (via fax)

Announcement Info

Stock Name LIENHOE    
Date Announced27 Feb 2001  
CategoryGeneral Announcement
Reference NoLH-010227-36434


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