Announcements

Date : 01 November 2000

ARTICLE IN THE STAR (BUSINESS SECTION) AT PAGE 3, ON OCTOBER 31, 2000 ENTITLED “Minority Shareholders Sue Bank”

MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDPL-001031-39549
SubjectARTICLE IN THE STAR (BUSINESS SECTION) AT PAGE 3, ON OCTOBER 31, 2000 ENTITLED “Minority Shareholders Sue Bank”

Contents :

1. On October 30th, 2000 Oriental Bank Berhad (“OBB”) held its Extraordinary General Meeting (“EGM”) and Malaysian Industrial Development Finance Berhad (“MIDF)” as the 75.17% shareholder attended the same vide its representative/proxyholder. At the EGM one of the OBB minority shareholders informed the EGM that they have filed a suit against MIDF. Prior to that, MIDF was not aware that a suit had been filed against MIDF.


2. Notwithstanding the information given by the abovementioned shareholder that a suit has been filed against MIDF, to date neither MIDF nor any of its directors has been served with any court papers on the same.

    3. Since MIDF has not received any court papers, MIDF is not able to confirm the contents of the abovementioned article that it has been sued or that it has been named as co-defendant.

    Query Letter Contents :

    We refer to the above article appearing in The Star, Business section, page 3,
    on 31 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:-
    "A group of 33 Oriental Bank Bhd (OBB) minority shareholders has filed a suit
    against the bank, ..."
    "Also cited as co-defendants were Malaysian Industrial Development Finance
    Berhad (MIDF), ..."

    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


    CHONG FUI TZY
    Manager, Listing Operations
    ASL/TPL
    c.c. Securities Commission (via fax)



    Announcement Info

    Company NameMALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD  
    Stock Name MIDF    
    Date Announced1 Nov 2000  
    CategoryGeneral Announcement
    Reference NoMI-001101-58066

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