PERUSAHAAN OTOMOBIL NASIONAL BERHAD ("Proton Berhad" or "the Company") - Article Entitled "EON May Suffer Serious Losses On Petronas's Talks With Hicom" and Article Entitled "Further Delay For EON Deal"
PERUSAHAAN OTOMOBIL NASIONAL BHD |
Contents :
On behalf of the Board of Directors of Proton Berhad, Aseambankers Malaysia Berhad ("Aseambankers") is writing in reply to your two (2) queries both dated 10 April 2000 quoting an article appearing in the Asian Wall Street Journal on 5 April 2000 under the heading "EON May Suffer Serious Losses On Petronas's Talks With Hicom" and an article appearing in the Edge on 10 April 2000 under the heading "Further Delay For EON Deal".
The Board of Directors of Proton Berhad wishes to inform the Kuala Lumpur Stock Exchange (the "Exchange") that the Company had, on 9 December 1999 and 3 March 2000, announced to the Exchange of the Proposed Acquisition of Hicom's interest in EON (the "Proposed Acquisition") by Proton Berhad and negotiation is in progress.
There is an on-going discussion on the terms and conditions of the Distribution Agreement entered into between the Company and EON. Both negotiations are progressing simultaneously.
The above announcement was made after due and diligent enquiry by the management of Proton Berhad with all the Directors of Proton Berhad, substantial shareholders and all such other persons who are reasonably familiar with the above subject matter.
Query Letter Contents :
We refer to the above article appearing in The Asian Wall Street Journal, on
Wednesday, 5 April 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:-
"...The negotiations have been complicated recently by a dispute over a
distribution agreement
between EON and national car maker Perusahaan Otomobil Nasional Bhd., or
Proton..."
"...continued delays in closing the deal could cause EON to lose its
position as Proton's main
distributor to Usahasama Proton-DRB Sdn. Bhd.,..."
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 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 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
Chong Fui Tzy
Manager, Listing Operations
SA/TFM
c.c. Securities Commision
Announcement Info
Company Name | PERUSAHAAN OTOMOBIL NASIONAL BHD |
Stock Name | PROTON |
Date Announced | 11 Apr 2000 |
Category | General Announcement |
Reference No | MM-000411-66534 |