With reference to the fax from the Kuala Lumpur Stock Exchange dated 28 June 2000.
In reply to the said fax, we wish to inform the Exchange that:-
(1) that there is no material development in the Company's business and affairs not previously disclosed;
(2) there is no impending change in the major shareholders; and
(3) to our knowledge, there are no reasons to account for the unusual market action.
Furthermore, we hereby declare that none of the following listed situations/events contributed to the unusual market action:-
- a joint venture, merger or acquisition;
- the declaration or ommission of dividends or the determination of earnings;
- the acquisition or loss of a significant contract or franchise;
- a change in control or significant change in management;
- a call of securities of redemption;
- the borrowings of a significant amount of funds;
- the public or private sale of significant amount of additional securities;
- significant litigation;
- the purchase or sale of a significant asset;
- a significant change in capital investment plans;
- a significant labour dispute or disputes with sub-contractors or suppliers;
- a tender offer for another company's securities;
- an event of default on interest and/or principal payments in respect of loans;
- a proposed rights, bonus, loan stocks or special issues;
- a proposed offer for sale of warrants or other securities.