Contents :
We refer to your letter dated 28 August 2000 in relation to the subject news article which appeared in the Business Times on even date and wish to clarify /state as follows:
1 E&O through its 51% owned subsidiary Dynamic Degree Sdn Bhd ("Dynamic") had on 28 July 2000 completed the acquisition of 211,672,000 ordinary shares of RM0.50 each representing 26.9% equity interest in Kamunting Corporation Berhad ("KCB"). As of todate E&O had paid for 181,433,143 KCB shares representing 23.08% of the equity interest.
2. Following the above acquisition, E&O and Dynamic are deemed interested in all the shares of the companies to the extent that KCB and/or its susidiaries has an interest under Section 6A(4) of the Companies Act,1965. Pursuant to this, E&O and Dynamic had on 23 August 2000 notified the KLSE that E&O and Dynamic is deemed interested in the following companies held through its 23.08% interest in KCB:
a) 10,171,000 ordinary shares of RM1.00 each in Bandar Raya Developments Berhad ("Bandar Raya") representing 2.14% equity interest in Bandar Raya held through Staboc Marketing Sdn Bhd and KCB (Guernsey) Limited both of which are wholly owned subsidiaries of KCB; and
b) 13,000,000 ordinary shares of RM1.00 each in Multi-Purpose Capital Holdings Berhad ("MP Cap") representing 5.91% equity interest in MP Cap held through KCB and Samudra Pelangi Sdn Bhd, a wholly owned subsidiary of KCB
3. As at todate, E&O has not expressed any interest whatsoever to Multi Purpose Holdings Berhad ("MPHB") or any other party of any interest to purchase the 32.76% stake in Bandar Raya owned by MPHB as reported in the said article in Business Times.
4. Other than the 2.14% deemed interest in Bandar Raya held through KCB, E&O has not bought directly or indirectly any shares in Bandar Raya.
Query Letter Contents :
We refer to the above news article appearing in Business Times, Companies &
Markets, Cover Page on Monday, 28 August 2000.
In particular, we would like to draw your attention to the following sentences
of the above article which are reproduced as follows:-
" .....an interested party had offered to buy Multi-Purpose Holdings Bhd's
(MPHB) entire 32.76 per cent stake in the company."
" E&O's purchase indicates that it could be the interested party."
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 above
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
Inderjit Singh
Senior Manager, Listing Operations
ASL /CMJ
cc: Securities Commission
(Attn: Encik Onn Ismail, Market Surveillance Department)
