Contents :

The letter from the Exchange dated 12 September 2000 refers.

The higher consolidated profit after taxation for the year ended 30 June 2000 as compared to the forecasted results indicated in our Circular to Shareholders dated 30 January 1999 is mainly attributable to the following:

• Higher sales achieved for Mont’Kiara Astana, 98% as compared to sales forecast of 80%;
• Higher sales achieved for Plaza Mont’Kiara , 80% as compared to sales forecast of 74%;
• Launch of Mont’Kiara Bayu took place in March 2000 and it achieved 85% sales by 30 June 2000. This project was not included in the forecast as it was then intended to be a service apartment; and
• Dividend income of RM8 million from a foreign investment.

This was however offset by:
· Delay in the sales launch of several projects included in the forecast. They are:

• K24 bungalow development;
• MK 14 low cost apartments;
• Taman Sri Bahagia low medium cost apartment development;
• MK 17 medium cost apartments; and
• Corporate Heights.

The authorities’ final approvals for these developments have taken a longer time than earlier expected. It is now expected these final approvals will be in place within this financial year.

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 and minority interests for the
year ended 30 June 2000 amounts to RM32,337,000.
However, on page 20 of your Company's Circular to Shareholders dated 30 January
1999, a consolidated profit after taxation and minority interests of
RM20,693,000 was forecasted for the abovementioned financial year.
In accordance with Section 58 of the Exchange's Listing Requirements, kindly
furnish the Exchange immediately with your detailed explanation on the above
difference for public release.

Yours faithfully


INDERJIT SINGH
Senior Manager, Listing Operations

WR/KHB