Contents :The Executive Chairman wishes to clarify that what he said was in the context of the
options Gopeng has under the provisions of the Share Subscription and Shareholders
Agreement (SSSA) to increasing its stake in Perak-Hanjoong, which it will
certainly consider, at the opportune time, the merits as it may boost the
further earnings of the group. For information the SSSA was entered into
between the shareholders of Perak-Hanjoong and Korea Heavy Industries &
Construction Co.Ltd,the details of which were announced to the Exchange on
9 November 2000.
The SSSA is still in the process of completion and at this stage Gopeng is
not in a position to consider the merits of whether it wishes to exercise
its options. If at the opportune time Gopeng decides to exercise its options
under the provisions of the SSSA, it will seek approval of the relevant
authorities before proceeding with the exercise.
We trust the above clarified the misunderstanding and confusion caused.
Query Letter Contents :
We refer to the above news article appearing in The Sun, Sun Biz, page 2, on
Monday, 28 May 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:-
"Gopeng Bhd ... is hoping to raise its stake in Perak-Hanjoong from its current
45% in efforts to further boost earnings."
"Executive Chairman, Datuk Hamdan Hazizi, said that the company is currently
awaiting approval from the authorities. "
"Asked if Gopeng was looking at 50% or a even higher stake than that ... Hamdan
said they were hoping for that ..."
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
Senior Manager, Listing Operations
c.c. Securities Commission (via fax)