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Date : 21 May 2001

SHELL REFINING MAY CONSIDER RIGHTS ISSUES TO RAISE FUNDS

SHELL REFINING COMPANY (FEDERATION OF MALAYA) BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDZO-010518-44014
SubjectSHELL REFINING MAY CONSIDER RIGHTS ISSUES TO RAISE FUNDS

Contents :

We refer to your letter dated 18th May 2001.

We wish to clarify that the article referred to in your letter, “Shell Refining May Consider Rights Issues To Raise Funds”, and in particular the text therein which you highlighted, was inaccurate.

In answer to questions raised from the floor during the company’s OGM, as to whether or not SRC considered a rights issue to reduce its borrowings, the Chairman stated that various options to reduce the loan for the LRCCU expansion were being considered, and that a rights issue was not being excluded as an option. No decision has been made as to which option, if any, would be pursued.

KLSE will be advised in accordance with the Guidelines once a decision has been made.

Query Letter Contents :

We refer to the above news article appearing on the webpage of The Edge, on
Friday, 18 May 2001, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence
which is reproduced as follows:-
"Shell Refining Company (Federation of Malaya) Bhd (SRC) may consider raising
more funds through rights issues to pay off it short-term borrowings ..."
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 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 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.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.

Yours faithfully


LISA LAM
Senior Manager, Listing Operations
LL/ASL/ZOOS
c.c. Securities Commission (via fax)



Announcement Info

Company NameSHELL REFINING COMPANY (FEDERATION OF MALAYA) BERHAD  
Stock Name SHELL    
Date Announced21 May 2001  
CategoryGeneral Announcement
Reference NoSR-010521-56504

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