Acquisition Of A 50% Plus One Share Interest In Mont Kiara Specialist Centre Sdn Bhd ("MKSC")
|Type||Reply to query|
|Reply to Query Letter by KLSE reference ID||NM-010323-57226|
|Subject||Acquisition Of A 50% Plus One Share Interest In Mont Kiara Specialist Centre Sdn Bhd ("MKSC")|
Contents :We refer to our announcement dated 22 March 2001 in respect of the aforesaid matter.
We are pleased to furnish the following additional information:
1. The net tangible assets and net loss of MKSC based on the latest audited accounts for year ended 30 June 2000 are as follows:
- Net Tangible Assets RM29,796,469
Net Loss RM490,732
2. No person connected to the directors and substantial shareholders has any interest, direct or indirect, in the acquisition.
3. MKSC has a term loan facility of RM4.2 million (“the Facility”). The outstanding interest for the Facility as at the date of the announcement is approximately RM0.2 million. Upon completion, MKSC becomes a subsidiary of Landmarks. Therefore accounts of MKSC would be consolidated into the Group’s accounts. Accordingly, Group debt would increase. Notwithstanding, Landmarks is not obliged to guarantee the Facility pursuant to the Share Sale Agreement and Shareholders Agreement.
4. We were informed that the original cost of the investment by the vendor for 100% equity interest of MKSC is RM10,618,500. The investment was made between 29 January 1996 and 29 November 1997.
Query Letter Contents :
We refer to your announcement dated 22 March 2001 in respect of the aforesaid
In this connection, kindly furnish the Exchange with the following additional
information for public release :
1. The net tangible assets and net profits of MKSC based on the latest audited
2. Whether any person connected to the directors and substantial shareholders
has any interest, direct or indirect, in the acquisition and the nature of
3. Particulars of all liabilities to be assumed by the company arising from the
acquisition, if any; and
4. The original cost of investment in MKSC and the date of such investment for
Please furnish the Exchange with your reply within two (2) market days from the
|Company Name||LANDMARKS BERHAD|
|Date Announced||30 Mar 2001|