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Date : 17 November 2000

ARTICLE ENTITLED: "AKN TECHNOLOGY EXPANDS"

AKN TECHNOLOGY BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDMN-001116-41422
SubjectARTICLE ENTITLED: "AKN TECHNOLOGY EXPANDS"

Contents :

17 November 2000



The Kuala Lumpur Stock Exchange
19th Floor, Exchange Square,
Bukit Kewangan,
50200 Kuala Lumpur
Attn : Mr Tan Yew Eng


RE: Reply to your queries on Article reported in The Sun on Thursday,
16 November 2000

We refer to your query on the above in your letter dated 16 November 2000.

We wish to inform you that after the company’s EGM on 15 November 2000, we did inform the press of the following :-

1. The enlarged AKN Group (including the three companies acquired) is expected to generate a profit after tax of RM42.6 million for the year ending 31 March 2001 as disclosed in the company’s circular to the shareholders dated 31 October 2000.

2. During the meeting, it was highlighted by shareholders attending that the compounded rate of growth of the acquiree companies is circa 100% and it was put to question whether such a rate of growth can reasonably be extended over the coming years. Mr. Loh explained that the Group is focused on the Internet Infrastructure and Communication products which is experiencing strong demand and hence hope to generate a compounded growth in turnover of 30% over the next few years although the Semiconductor Industry Association (SIA) recently projected the global semiconductor industry will grow at approximately 20%.




Yours faithfully
AKN TECHNOLOGY BHD



___________________________________
AHMAD KABEER BIN MOHAMED
NAGOOR
DIRECTOR

Query Letter Contents :

We refer to the above news article appearing in The Sun, Sun Biz, Page 2, on
Thursday, 16 November 2000, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
" ...... the group is hopeful of chalking up a 30% growth in turnover and
profits given the buoyant demand for the group's products and services. "
" ...... the group's profit after-tax (including the three companies) is RM41.2
million for the year ending March 31, 2001. "
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
sentences 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 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, 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


Tan Yew Eng
Senior Manager, Listing Operations
SA/LMN
copy to:- Securities Commission (via fax)



Announcement Info

Company NameAKN TECHNOLOGY BERHAD  
Stock Name AKN    
Date Announced17 Nov 2000  
CategoryGeneral Announcement
Reference NoCS-001117-56421

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