Contents :We refer to your letter dated 27 March 2001 on the above matter. As requested, we furnish herewith the required explanation for public release.
The consolidated loss forecast after taxation and minority interest for the financial year ended 31 December 2000 of RM17.146 million as disclosed on page 48 of the Company's Prospectus dated 12 July 2000 excludes the results of certain subsidiary companies as set out on page 51 of the said Prospectus.
The Company had on 28 February 2001 announced the unaudited Group results for the same period with a consolidated loss after taxation and minority interest of RM85.324 million. For comparison purposes, this loss needs to be adjusted to reflect the results of the subsidiary companies so excluded from the forecast as follows :-
Unaudited consolidated loss as per announcement (85,324)
Adjustment for results of subsidiaries excluded from forecast 68,734
Adjusted Loss (16,590)
The difference between the Adjusted Loss of RM16.590 million and the forecasted loss of RM17.146 million is RM556,000 representing a favourable variance of 3.24%.
(This announcement is dated 28 March 2001).
Query Letter Contents :
We refer to your Company's announcement dated 28 February 2001 in respect of
the abovecaptioned matter.
We note that your Group's loss after taxation and minority interests for the
year ended 31 December 2000 amounts to RM85,324,000.
However, on page 48 of your Company's Prospectus dated 12 July 2000, a
consolidated loss after taxation and minority interests of RM17,146,000 was
forecasted for the abovementioned financial year.
In accordance with the Exchange's Listing Requirements, kindly furnish the
Exchange immediately with your detailed explanation on the above difference for