MULPHA INTERNATIONAL BHD (“MIB” OR “THE COMPANY”) Reply to query in respect of the proposed disposal by Jumbo Hill Group Limited, a wholly-owned subsidiary of MIB, of its entire 75% equity interest in Manta Holdings Company Limited (“Proposed Disposal")

MULPHA INTERNATIONAL BERHAD

Type

Reply to query

Reply to Bursa Malaysia's Query Letter - Reference ID

NM-120215-52937

Subject

MULPHA INTERNATIONAL BHD (“MIB” OR “THE COMPANY”)
Reply to query in respect of the proposed disposal by Jumbo Hill Group Limited, a wholly-owned subsidiary of MIB, of its entire 75% equity interest in Manta Holdings Company Limited (“Proposed Disposal")

Description

Query Letter Contents

We refer to your Company's announcement dated 15 February 2012 in respect of
the above matter.

In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-

The breakdown of the intended application of the sale proceeds between
repayment of bank borrowings and working capital.
The estimated time frame to complete the Proposed Disposal.

Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.

Yours faithfully

TAN YEW ENG
Head, Issuers
Listing Division
Regulation

TYE/NMA
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)

Reference is made to the Company’s announcement on 15 February 2012 and the query letter from Bursa Malaysia Securities Berhad dated 16 February 2012 in respect of the Proposed Disposal. The Company is pleased to furnish the following additional information:-

1. The proceeds from the Proposed Disposal is expected to be utilized in the following manner:

Description	Amount (RM)	Timeframe for the proposed utilization of proceeds
Repayment of bank borrowings	90,000,000	Within 6 months from completion of the Proposed Disposal
Working Capital¹	21,154,446	Within 2 years from completion of the Proposed Disposal
Total	111,154,446²

Notes:

(1) Working Capital includes all fees and expenses related to the Proposed Disposal

(2) The actual amount received is subject to exchange rate fluctuations. In the event the actual amount received is lower or higher, the amount allocated to Working Capital will be adjusted accordingly

2. The estimated time frame to complete the Proposed Disposal is on or before 29 February 2012.

This announcement is dated 16 February 2012.

Announcement Info

Company Name	MULPHA INTERNATIONAL BERHAD
Stock Name	MULPHA
Date Announced	16 Feb 2012
Category	General Announcement
Reference No	MI-120216-52026