BURSA ANNOUNCEMENTS
Date : 01 September 2010
TALIWORKS CORPORATION BERHAD ("Taliworks" or "the Company") 1. SIGNING OF CONCESSION AGREEMENT WITH YINCHUAN MUNICIPAL CONSTRUCTION BUREAU TO TAKE-OVER AND UPGRADE FOUR (4) EXISTING WASTE WATER TREATMENT PLANTS WITH RECYCLED WATER FACILITIES (“CONCESSION AGREEMENT”), AND 2. SIGNING OF ASSET TRANSFER AGREEMENT WITH YINCHUAN CITY WASTE WATER TREATMENT CO. LTD. TO TRANSFER ALL RIGHTS AND INTEREST OF ASSETS (“ASSET TRANSFER AGREEMENT”) (COLLECTIVELY REFERRED TO AS “THE PROJECT”)
TALIWORKS CORPORATION BERHAD |
Type | Reply to query |
Reply to Bursa Malaysia's Query Letter - Reference ID | NM-100830-40936 |
Subject | TALIWORKS CORPORATION BERHAD ("Taliworks" or "the Company") 1. SIGNING OF CONCESSION AGREEMENT WITH YINCHUAN MUNICIPAL CONSTRUCTION BUREAU TO TAKE-OVER AND UPGRADE FOUR (4) EXISTING WASTE WATER TREATMENT PLANTS WITH RECYCLED WATER FACILITIES (“CONCESSION AGREEMENT”), AND 2. SIGNING OF ASSET TRANSFER AGREEMENT WITH YINCHUAN CITY WASTE WATER TREATMENT CO. LTD. TO TRANSFER ALL RIGHTS AND INTEREST OF ASSETS (“ASSET TRANSFER AGREEMENT”) (COLLECTIVELY REFERRED TO AS “THE PROJECT”) |
Contents | Further to the Company's announcement dated 25 August 2010 in respect of the Project, the Board of Directors of Taliworks is pleased to attach herewith the additional information in relation to the above matter for public release. This announcement is dated 1 September 2010. |
Query Letter Content | We refer to your announcement dated 25 August 2010 in respect of the abovecaptioned matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release :- 1. The audited net book value of the Waste Water Treatment Plants based on Yinchuan City Waste Water Treatment Co. Ltd's latest audited accounts. 2. Particulars of all liabilities, including contingent liabilities and guarantees to be assumed by the Joint Venture Company/Taliworks Corporation Berhad, arising from the Asset Transfer Agreement. 3. The eventual issued and paid-up capital of the Joint Venture Company. 4. The total cost of the technical upgrading of the Waste Water Treatment Plants, and the source(s) of funds to finance it. 5. The basis in arriving at the RMB810 million transfer price of the Waste Water Treatment Plants. If it was based on net assets, the year the net assets were taken into consideration, quantifying the net assets and stating whether it was based on audited financial statements. 6. The gearing of the Taliworks Corporation Bhd group before and after the Project. 7. Whether the Project/Joint Venture is subject to the shareholders' and the relevant government authorities' approval, and the estimated time frame for submission of the application to the relevant government authorities. 8. The time and place where the Concession Agreement and the Asset Transfer Agreement may be inspected. 9. The estimated time frame to complete the Project. 10. The highest percentage ratio applicable to the Project pursuant to paragraph 10.02(g) of the Main Market Listing Requirements. Kindly furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully TAN YEW ENG Head, Issuers Listing Division, Regulation TYE/NMA c.c:- Head, Market Surveillance Department, Market Supervision Division, Securities Commission (via fax |
Announcement Info
Company Name | TALIWORKS CORPORATION BERHAD |
Stock Name | TALIWRK |
Date Announced | 1 Sept 2010 |
Category | General Announcement |
Reference No | CC-100901-A2D09 |