Date : 16 February 2012

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

TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDNM-120215-52937
SubjectMULPHA 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 NameMULPHA INTERNATIONAL BERHAD  
Stock Name MULPHA    
Date Announced16 Feb 2012  
CategoryGeneral Announcement
Reference NoMI-120216-52026

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