Contents :
Your letter dated 4 October 2000 refers.
We wish to inform the Exchange that we have on 4 October 2000 received a notification of Notice of Interest of Substantial Shareholder (Form 29A) by Utusan Jutabina Sdn Bhd notifying us that they had acquired an interest in 30.02% equity interest in PUB via a Conditional Share Sale Agreement dated 18 August 2000 between Idris Hydraulic (Malaysia) Berhad, Idaman Unggul Sdn Bhd and Utusan Jutabina Sdn Bhd.
In the mean time, we have not received any response from any substantial shareholders confirming nor denying the above reported article.
Thank you.
Query Letter Contents :
We refer to the above news article appearing in The Star, Business Section,
page 1, on Wednesday, 4 October 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:-
"IDRIS Hydraulic (M) Bhd has entered into an agreement to sell its 30.02%
equity stake in Prime Utilities Bhd for RM110mil to Utusan Jutabina Sdn Bhd."
"... the agreement on the sale was signed recently with Idaman Unggul Sdn Bhd -
which is in the process of taking over Idris ..."
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 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
KUALA LUMPUR STOCK EXCHANGE
LISA LAM
Senior Manager, Listing Operations
LL/ASL/ZOOS
c.c. Securities Commission (via fax)