Date : 13 October 2017

OTHERS Article appearing in The Star


Type Announcement
Subject OTHERS
Article appearing in The Star

Vivocom Intl Holdings Berhad ("Vivocom" or the "Company")

We refer to the article appearing in The Star on Friday, 13 October 2017, with the headline ‘HK listed developer said eyeing controlling stake in Vivocom.’ 

In relation thereto, we wish to clarify that :-

1. Pursuant to the publishing of the article, the Board of Directors of Vivocom had made due enquiries with the directors and major shareholders of the Company.

2. Based on our enquiry, the Company wishes to clarify that :-

a) The major shareholders of the company, namely Ang Li-Hann and Golden Oasis Resources Sdn Bhd (“Vendors”), had on 13 October 2017 signed indicative term sheets with CNQC International Holdings Limited (“CNQC”) for the proposed sale of up to 317,920,140 and 652,346,283 ordinary shares in Vivocom Intl Holdings Berhad (“Vivocom shares”) respectively to CNQC.

b) The term sheets are subject to the signing of the final share swap agreements (“Final Agreements”) between the Vendors and CQNC. The Final Agreements would be signed at a later date subject to the terms and conditions to be negotiated and agreed upon.

c) Pursuant to the completion of the Final Agreements, CNQC will emerge as the largest shareholder in Vivocom with up to 970,266,423 Vivocom shares, or approximately 29.15% of the total issued shares of Vivocom.

3. About CNQC :-           

a) CNQC is currently listed on the Main Board of the Stock Exchange of Hong Kong Limited, with a market capitalization of approximately Hong Kong Dollars (“HKD”) 4.02 billion (equivalent to approximately RM2.18 billion). CNQC is a contractor in the Hong Kong foundation industry and is principally engaged in the foundation business and machinery leasing business in Hong Kong and Macau.

b) Since 1999, CNQC has established and built a solid reputation in Singapore for being a proven property developer and contractor primarily engaged in the development and sale of condominiums in the Outside Central Region of Singapore, with three (3) subsidiaries entitled with the highest classification of “A1” grading registration under the Singapore Building and Construction Authority (BCA). In 2012, CNQC was number one (1) ranked in terms of number of property sales in Singapore among foreign property development enterprises.

c) CNQC, in turn, is part of the Qingjian Group based in Qingdao, China. The Qingjian Group is one of the first batch of premium quality construction enterprises of the Ministry of Construction in China.  The Qingjian Group is accredited as one of China’s Top 500 Enterprises and ENR Top 250 International Contractors and has won awards including the highest honour in China’s construction industry of engineering quality, the Luban Awards.

The Company will make the necessary announcements once it receives further notifications from the Vendors.

This announcement is dated 13 October 2017.



Announcement Info

Stock Name VIVOCOM
Date Announced 13 Oct 2017
Category General Announcement for PLC
Reference Number GA1-13102017-00048