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BURSA ANNOUNCEMENTS

Date : 18 August 2000

JOINT VENTURE IN CH-LION REINFORCING STEEL SDN BHD

CHUAN HUAT RESOURCES BHD

TypeReply to query
Reply to Query Letter by KLSE reference IDMN-000817-35998
SubjectJOINT VENTURE IN CH-LION REINFORCING STEEL SDN BHD

Contents :

Your ref: MN-000817-35993


The Senior Manager
Listing Operation
Kuala Lumpur Stock Exchange
9th Floor, Exchange Square
Bukit Kenangan
50200 Kuala Lumpur

Attention: Mr Tan Yew Eng

JOINT VENTURE IN CH-LION REINFORCING STEEL SDN BHD (CHLRSB)

Further to our announcement on 16th August 2000, the Directors wish to clarify that:
The total value of consideration for the transferring of landed property from Chuan Huat Hardware Holdings Sdn Bhd to CHLRSB is RM7.2 millions as announced to KLSE on the 23rd May 2000; and
Amsteel Mills Sdn Bhd (AMSB) will subscribe for the initial 20% stake in CHLRSB at par value of RM1 each mainly because CHLRSB is a new company incorporated on the 15th June 1999. Subsequently within 3 years period, AMSB will have option to subscribe for the balance of 29% at the then net tangible assets value of CHLRSB.

By order of the Board




LIM LOONG HENG
DEPUTY MANAGING DIRECTOR
18TH AUGUST 2000

Query Letter Contents :

We refer to your Company's announcement date 16 August 2000, in respect of the
aforesaid matter.
In this connection, kindly furnish the Exchange with the following additional
information for public release :
The value of the consideration at which the land and factory in Nilai is to be
transfered from Chuan Huat Hardware Holdings Sdn Bhd to CHLRSB.
Please furnish the Exchange with your reply within two (2) market days from the
date hereof.

Yours faithfully


TAN YEW ENG
Senior Manager, Listing Operations
LMN\
copy: Securities Commission



Announcement Info

Company NameCHUAN HUAT RESOURCES BHD  
Stock Name CHUAN    
Date Announced18 Aug 2000  
CategoryGeneral Announcement
Reference NoCH-000818-67797

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