BURSA ANNOUNCEMENTS
Date : 17 December 2018
2. INFORMATION ON CYBERSIA AND JIC
3. SALIENT TERMS OF THE AGREEMENTS
5. FINANCIAL EFFECTS
b) Net Tangible Assets (“NTA”)
1. Signing of Agreement between Rediffusion Berhad (RB) and Cybersia.com Inc. (Cybersia) for conversion of advertising cost incurred by Cybersia in RB’s radio station into equity shares in Cybersia. 2. Signing of Agreement between Rediffusion Berhad (RB) and JIC.net Sdn. Bhd. (JIC) for equity participation in Information Technology Projects.
| REDIFFUSION BERHAD |
| Type | Announcement |
| Subject | 1. Signing of Agreement between Rediffusion Berhad (RB) and Cybersia.com Inc. (Cybersia) for conversion of advertising cost incurred by Cybersia in RB’s radio station into equity shares in Cybersia. 2. Signing of Agreement between Rediffusion Berhad (RB) and JIC.net Sdn. Bhd. (JIC) for equity participation in Information Technology Projects. |
Contents :
The Board of Directors of RB is pleased to announce the following:
1. INTRODUCTION
- RB has on 23rd March 2000 entered into separate smart partnership agreements with Cybersia and JIC respectively to embark on e-commerce business to diversify and enter the new internet economy.
2. INFORMATION ON CYBERSIA AND JIC
- Cybersia is a company incorporated in the state of Delaware, United States of America and based in Singapore. It is a global internet company which provides the Online Chinese Services consisting of genealogy, family, community, and lifestyle-oriented content targeting at the global Chinese online population.
JIC is a provider of incubation facilities for the development of innovative, high technology, and internet projects. JIC is fully funded by Permodalan Usahawan Johor Berhad, the commercial arm of the State Government of Johor.
3. SALIENT TERMS OF THE AGREEMENTS
Under the agreement between RB and Cybersia, RB will provide and co-produce the commercial airtime in its radio station for Cybersia to advertise and promote its Online Chinese Services up to a maximum sum of RM1,000,000. In return, Cybersia will pay RB for the cost incurred by way of equity shares in Cybersia at the rate of US$2.50 per Cybersia share.
Under the agreement between RB and JIC, JIC will offer RB investment opportunities to participate in e-commerce projects successfully developed by JIC and ready for commercialisation. On the same note, RB will provide resources via its radio station to promote and market the completed commercial product of the e-commerce project.
- The signing of the agreements with Cybersia and JIC will hasten and enhance RB’s entry into the new internet economy and places RB in a strategic platform for entry into the emerging e-businesses.
5. FINANCIAL EFFECTS
- a) Earnings
- The entering into the agreements is not expected to have any material effect on the earnings of RB Group for the financial year ending 31st March 2000.
b) Net Tangible Assets (“NTA”)
- The entering into the agreements will have no material effect on the NTA of RB Group for the financial year ending 31st March 2000.
- The entering into the agreements will have no effect on RB’s issued and paid-up share capital.
- No directors or substantial shareholders of RB or its subsidiaries have any direct or indirect interest in the contractual arrangement under the agreements.
Announcement Info
| Company Name | REDIFFUSION BERHAD |
| Stock Name | RFUSION |
| Date Announced | 23 Mar 2000 |
| Category | General Announcement |
| Reference No | CU-000323-56647 |