ARTICLE IN THE EDGE ENTITLED: "MRCB mulls options for debt repayment" ARTICLE IN THE SUN ENTITLED: "Out of their hands?"
| MALAYSIAN RESOURCES CORPORATION BERHAD |
Contents :
We refer to your fax dated 18 December 2000 and wish to respond as follows:
"...it has been looking to sell its 22.7 per cent stake in RHB Bhd but market conditions were not conducive ..."
At the present moment, MRCB has no intention of selling its 22.7% stake in RHB. At the same time, it is continually reviewing its investments in order to enhance shareholder value and further strengthen its financial position. In relation to this, it will make the necessary announcements once such decisions are made and finalised in accordance with the KLSE's Corporate Disclosure Policy.
"The company, it is believed, is also toying with other options to raise the much-needed funds ..."
" ... bonds should not be ruled out ..."
MRCB continues to evaluate and pursue its funding options for its current as well as new projects with the objective of optimising its cost on borrowings. It will make the necessary announcements once such decisions are made and finalised in accordance with the KLSE's Corporate Disclosure Policy.
"Sources say MRCB is still likely to present an alternative proposal to the proposed restructuring scheme by RHB ..."
MRCB is considering its position. Should MRCB have an alternative proposal, MRCB will make the necessary announcement at the appropriate time in accordance with the KLSE's Corporate Disclosure Policy.
Query Letter Contents :
We refer to the above news articles appearing in The Edge, pages 1 and 6, and
The Sun, page 3, on Monday, 18 December 2000, a copy each is enclosed for your
reference..
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
1) The Edge
"... it has been looking to sell its 22.7 per cent stake in RHB Bhd but market
conditions were not conducive ..."
"The company, it is believed, is also toying with other options to raise the
much-needed funds ..."
"... bonds should not be ruled out ..."
2) The Sun
"Sources say MRCB is still likely to present an alternative proposal to the
proposed restructuring scheme by RHB ..."
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 sentences 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 sentences 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 sentences
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
LISA LAM
Senior Manager
Listing Operations
KLL/YT/CY
Copy to Securities Commission (via fax)
Announcement Info
| Company Name | MALAYSIAN RESOURCES CORPORATION BERHAD |
| Stock Name | MRCB |
| Date Announced | 19 Dec 2000 |
| Category | General Announcement |
| Reference No | MR-001219-58107 |
