Contents :
We refer to the Exchange's query letter dated 15 November 2000 and wish to confirm and clarify the statement
"Chairman and group managing director Ngau Boon Keat said Dialog expects earnings from its overseas operations to double from 12 per cent to between 20 and 25 per cent in two to three years."
The clarifications to the above statement are as follows :-
1. The Group's continuous effort in improving and upgrading its technical competency and capability as well as its aggressive recruitment of additional technical personnel in its offices in Singapore, Thailand and Indonesia will enhance the Group's efforts in penetrating the overseas markets.
2. The expansion of the market territorial coverage for the marketing of specialty chemicals and additives in the Asian region will increase the revenue contribution from international operations. For example, the Company has on 9 November 2000 announced to the Exchange the securing of a sale of catalyst to P.T. Petro Oxo Nusantara, Indonesia for approximately RM10 million.
3. The Group expects an increase in plant maintenance works in the Asian region following the successful completion of catalyst changeout jobs in Indonesia and Singapore during the last financial year.
4. The Group also expects to benefit from the increase in the oil, gas and petrochemical development and production activities in the Asian region resulting from current high crude oil prices.
We trust that the above is sufficient to clarify matters.
Query Letter Contents :
We refer to the above news article appearing on the webpage of The Edge, on
Tuesday, 14 November 2000, 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:-
"Chairman and group managing director Ngau Boon Keat said Dialog expects
earnings from its overseas operations to double from 12 per cent to between 20
and 25 per cent in two to three years."
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
date hereof.
Yours faithfully
Lisa Lam
Senior Manager,
Listing Operations
YYT/LL/HH
c.c Securities Commission (via fax)
