Contents :
We refer to the Exchange's query letter dated 17 November 2000 pertaining to the above article appearing in New Straits Times, Business section on 17 November 2000.
We wish to clarify the statement "Matsushita Electric Co (M) Bhd managing director Masakazu Yanagawa said that the company estimates sales turnover to reach RM11 billion for next year." as follows:-
1. During the briefing of Matsushita group of companies operations in Malaysia on 9 November 2000 at the launch of National Panasonic (M) Sdn. Bhd's Audio Visual/Home Appliances Convention in Petaling Jaya , Mr. Masakazu Yanagawa, as regional representative of the Matsushita group of companies in Malaysia, told reporters that the total turnover of the group is forecast to hit RM11bil this year and expected to reach RM13bil next year.
2. No announcement pertaining to turnover of the Company has been made other than Quarterly Report released on 24 August 2000
We trust the above is sufficient to clarify the matter..
c.c. Securities Commission (via fax)
Query Letter Contents :
We refer to the above article appearing in New Straits Times, Business section,
page 27, on 17 November 2000, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"Matsushita Electric Co (M) Bhd managing director Masakazu Yanagawa said that
the company estimates sales turnover to reach RM11 billion for next year."
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 sentence 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 sentence 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 sentence 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
CHONG FUI TZY
Manager, Listing Operations
SA/TPL
c.c. Securities Commission (via fax)
