We refer to KLSE's letter dated 25 April 2001 in relation to the above mentioned article appearing on pages 13 and 14 of The Business Times - Companies & Markets Section on 25 April 2001.
Utama Banking Group Berhad (UBG) wishes to inform that UBG has no knowledge of the statement which stated that "UBG is expected to take up a minimum of 20 percent stake in the merged entity". In the circumstances, UBG is unable to comment further on the contents of the above mentioned article.
Query Letter Contents :
We refer to the above article appearing in The Business Times, Companies and
Markets Section, pages 13 and 14, on Wednesday, 25 April 2001, a copy of which
is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
reproduced as follows:-
"UTAMA Banking Group Bhd (UBG), which now has Bank Negara Malaysia's approval
to hold talks
with Rashid Hussain Bhd (RHB) on a possible merger, is expected to take up a
minimum of 20 per
cent stake in the merged entity."
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 sentence 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 sentence or any other part of the above article, you
are required to set forth facts sufficient to clarify any misleading aspects of
the same. In the event you confirm the above sentence or any other part of the
above article, you are required to set forth facts sufficient to support the
Please furnish the Exchange with your reply within one (1) market day from the
Chong Fui Tzy
Manager, Listing Operations