NEWSROOM
Home
Corporate Information
Governance
Investor Relations
Stock Information
Newsroom
Information Request

Bursa Announcements

Date : 05 January 2001

PAN PACIFIC ASIA BERHAD ("PPAB") Rescission of the Memorandum of Understanding ("MOU") to merge Peninsula Securities Sdn. Bhd. ("PSSB") and FIMA Securities Sdn. Bhd. ("FSSB")

PAN PACIFIC ASIA BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDYM-010104-57573
SubjectPAN PACIFIC ASIA BERHAD ("PPAB")
Rescission of the Memorandum of Understanding ("MOU") to merge Peninsula Securities Sdn. Bhd. ("PSSB") and FIMA Securities Sdn. Bhd. ("FSSB")

Contents :

On behalf of PPAB, we write to inform that PPAB and Kumpulan Fima Berhad have mutually agreed to rescind the MOU entered into on 19 May 2000 to create a holding company of a universal broker between PSSB and FSSB because the parties were unable to progress expediently to reach viable and satisfactory terms on the creation of the abovementioned holding company.


On behalf of PPAB, we also take this opportunity to amend the last paragraph of the announcement dated 26 December 2000 (with the amendment highlighted) as follows:-

12. DOCUMENTS FOR INSPECTION

      The SSA will be made available for inspection during normal office hours (except during public holidays) at the registered office of PPAB at Unit 602B, Level 6, Uptown 5.5, Jalan SS 21/39, Damansara Uptown, 47400 Petaling Jaya, Selangor Darul Ehsan from the date of this announcement (i.e 26 December 2000) up to the date of the EGM of PPAB.

Query Letter Contents :

We refer to your announcement dated 26 December 2000 in respect of the
aforesaid matter.
In this connection, kindly furnish the Exchange for public release the
reason(s) why PPAB and Kumpulan Fima Berhad have mutually agreed to rescind the
MOU entered into on 19 May 2000 to create a holding company of a universal
broker between PSSB and FSSB.
Please furnish the Exchange with your reply within two (2) market days from the
date hereof.


Yours faithfully


LISA LAM
Senior Manager, Listing Operations

LL/YMR



Announcement Info

Company NamePAN PACIFIC ASIA BERHAD  
Stock Name PPAB    
Date Announced5 Jan 2001  
CategoryGeneral Announcement
Reference NoMM-010105-59493

Back