Contents :
The query letter in relation to the article appearing on the website of the Edge, on Friday, 19 January 2001 refers.
The statement reported in the article "Globetronics Technology Bhd plans to list 80% owned Globetronics Phillipines Inc by end of this year. It may also list a local subsidiary, probably on the Malaysian Exchange of Securties Dealing and Quotation (Mesdaq)....." was made in response to a question from the press. The Corporate Finance Department in the organisation is currently in the process of performing an evaluation on the various options and the subsidiaries' track record. At the present moment, there is no firm proposal as to which definite subsidiaries will be listed and on which stock exchange. The Board of Directors of Globetronics Technology Bhd will announce its decision and further details in due course.
On another statement reported in the said article "Ng said the group expects 10 to 20 per cent earning growth this year", this statement was made based on the financial year 2001 budget prepared for the Group after reviewing the outlook of the global semiconductor industry trend and detailed discussion with the Group's customers on the various proposed expansion plan.
Query Letter Contents :
We refer to the above news article appearing on the website of The Edge, on
Friday, 19 January 2001, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentences
which are reproduced as follows:-
"Globetronics Technology Bhd plans to list 80 per cent-owned Globetronics
Philippines Inc by end of this year. It may also list a local subsidiary,
probably on the Malaysian Exchange of Securities Dealing and Quotation
(Mesdaq)..."
"...Ng said the group expects 10 to 20 per cent earnings growth this year."
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, including the relevant basis and
assumptions in arriving at the above forecast.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
LISA LAM
Senior Manager, Listing Operations
LL/ASL/SW
c.c. Securities Commission (via fax)
