Date : 03 May 2000

CONSOLIDATED RESULTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 1999

ASTRAL SUPREME BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDKH-000425-43202
SubjectCONSOLIDATED RESULTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 1999

Contents :

In response to the Exchange's query dated 2 May 2000 on the difference between the forecast of RM10,269,000 consolidated profit after taxation on page 48 of the Company's Prospectus dated 30 December 1998 and the reported group's profit after taxation of RM16,781,000 for the year ended 31 December 1999, the Company provides the following explanation:

1.The forecasted consolidated profit after taxation of RM10,269,000 was based on the assumption that the proposed sale of the group's investment property in Australia did not occur. However, the sale did take place on 14 January 1999. The Directors of the Company have on page 56 of the Prospectus forecasted that the consolidated profit after taxation would become RM11,274,000 if the property was disposed of and the unit trust which held the property was dissolved.
2.When the above forecasted figures were made, the exchange rate of the A$ : RM was 1:2.2 and the taxation rate in Malaysia was 28%. By the time the Company remitted its Australian funds back to Malaysia, the exchange rate was 1:2.5 which resulted in a positive variance of RM3,110,000. In addition to that, the Government's waiver of tax on 1999 income also reduced the group's tax liability by RM2,589,000. The positive impact of these two factors together with a small shortfall of RM192,000 in the group's performance resulted in an overall increase of consolidated profit after taxation of RM16,781,000.

Query Letter Contents :

We refer to your Company's announcement in respect of the abovecaptioned
matter.
We note that the group's profit after taxation for the year ended 31 December
1999 amounts to RM16,781,000.
However, on page 48 of your Company's Prospectus dated 30 December 1998, a
consolidated profit after taxation of RM10,269,000 was forecasted for the
abovementioned financial year.
In accordance with the Exchange's Listing Requirements, kindly furnish the
Exchange immediately with your detailed explanation on the above difference for
public release.

Yours faithfully
KUALA LUMPUR STOCK EXCHANGE


LATIFAH HJ MOHD YUSOF TAN YEW ENG
Senior Vice President, Listing Operations Senior Manager, Listing Operations
WR/KHB



Announcement Info

Company NameASTRAL SUPREME BERHAD  
Stock Name ASUPREM    
Date Announced3 May 2000  
CategoryGeneral Announcement
Reference NoAS-000503-61348