HOHUP - General Announcement
Announcement Type: General Announcement
Company Name: HO HUP CONSTRUCTION COMPANY BHD
Stock Name: HOHUP
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: HO HUP CONSTRUCTION COMPANY BERHAD ("Ho Hup" or "the Company")
- KUALA LUMPUR HIGH COURT SUIT RELATING TO THE JOINT DEVELOPMENT AGREEMENT DATED 16 MARCH 2010 BETWEEN BUKIT JALIL DEVELOPMENT SDN BHD AND PIONEER HAVEN SDN BHD.
Contents: Reference is made to the Announcements made on 27 April 2010, 30 April 2010, 5 May 2010, 17 June 2010, 25 June 2010 and 7 July 2010.
The Board of Directors of Ho Hup hereby announces that the Court has today given Orders relating to interim injunctions in respect of the Joint Development Agreement to apply until the disposal of Kuala Lumpur High Court Suit No. D-22NCC-792-2010 (the "Suit") at the trial of the action. These Orders were made, by consent, and in effect are as follows:
a. As between Ho Hup (the Plaintiff) and the 11th Defendant, the 11th Defendant agreed to the ad-interim order (see Ho Hup's announcement dated 5 May 2010) carrying on through until the disposal of the Trial of this Suit or until further order. The 11th Defendant's agreement is conditional on the Plaintiff paying into a stakeholder's account, maintained by the 11th Defendant's solicitors, the sum of RM500,000 within 30 days from the date of this order, failing which the ad-interim injunction would lapse and parties are at liberty to apply to Court. The 11th Defendant's agreement to the above does not amount to a concession as to the facts or liability of this case and it is without prejudice to their appeal on the striking out application.
b. As between Ho Hup and the 4th to 8th Defendants, the ad-interim order will continue until the disposal of the Trial of this Suit. The agreement by the 4th to 8th Defendants does not amount to a concession on the facts and liability of this case.
c. In respect of the 2nd, 3rd, 9th and 10th Defendants, the ad-interim order is to continue until the disposal of the Trial of this Suit, without prejudice to their respective appeals on the striking out applications and without any concession as to the facts and liability of this case.
The Company is the Plaintiff in the Suit. A list of the Defendants in the Suit is set out in Ho Hup's announcement made on 27 April 2010. For ease of reference, the 1st Defendant is Bukit Jalil Development Sdn. Bhd., a subsidiary of Ho Hup, and the 11th Defendant is Pioneer Haven Sdn. Bhd., a subsidiary of Malton Berhad; the 2nd to 10th Defendants are certain former Directors of Ho Hup or of Bukit Jalil Development Sdn Bhd.
This announcement is dated 12 August 2010.
Company Name: HO HUP CONSTRUCTION COMPANY BHD
Stock Name: HOHUP
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: HO HUP CONSTRUCTION COMPANY BERHAD ("Ho Hup" or "the Company")
- KUALA LUMPUR HIGH COURT SUIT RELATING TO THE JOINT DEVELOPMENT AGREEMENT DATED 16 MARCH 2010 BETWEEN BUKIT JALIL DEVELOPMENT SDN BHD AND PIONEER HAVEN SDN BHD.
Contents: Reference is made to the Announcements made on 27 April 2010, 30 April 2010, 5 May 2010, 17 June 2010, 25 June 2010 and 7 July 2010.
The Board of Directors of Ho Hup hereby announces that the Court has today given Orders relating to interim injunctions in respect of the Joint Development Agreement to apply until the disposal of Kuala Lumpur High Court Suit No. D-22NCC-792-2010 (the "Suit") at the trial of the action. These Orders were made, by consent, and in effect are as follows:
a. As between Ho Hup (the Plaintiff) and the 11th Defendant, the 11th Defendant agreed to the ad-interim order (see Ho Hup's announcement dated 5 May 2010) carrying on through until the disposal of the Trial of this Suit or until further order. The 11th Defendant's agreement is conditional on the Plaintiff paying into a stakeholder's account, maintained by the 11th Defendant's solicitors, the sum of RM500,000 within 30 days from the date of this order, failing which the ad-interim injunction would lapse and parties are at liberty to apply to Court. The 11th Defendant's agreement to the above does not amount to a concession as to the facts or liability of this case and it is without prejudice to their appeal on the striking out application.
b. As between Ho Hup and the 4th to 8th Defendants, the ad-interim order will continue until the disposal of the Trial of this Suit. The agreement by the 4th to 8th Defendants does not amount to a concession on the facts and liability of this case.
c. In respect of the 2nd, 3rd, 9th and 10th Defendants, the ad-interim order is to continue until the disposal of the Trial of this Suit, without prejudice to their respective appeals on the striking out applications and without any concession as to the facts and liability of this case.
The Company is the Plaintiff in the Suit. A list of the Defendants in the Suit is set out in Ho Hup's announcement made on 27 April 2010. For ease of reference, the 1st Defendant is Bukit Jalil Development Sdn. Bhd., a subsidiary of Ho Hup, and the 11th Defendant is Pioneer Haven Sdn. Bhd., a subsidiary of Malton Berhad; the 2nd to 10th Defendants are certain former Directors of Ho Hup or of Bukit Jalil Development Sdn Bhd.
This announcement is dated 12 August 2010.
HOHUP - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: HO HUP CONSTRUCTION COMPANY BHD
Stock Name: HOHUP
Date Announced: 12/08/2010
Announcement Detail:
Date of change: 12/08/2010
Type of change: Appointment
Designation: Director
Directorate: Executive
Name: WONG KIT-LEONG
Age: 39
Nationality: Malaysian
Qualifications: Bachelor of Commerce from University of British Columbia, Canada.
Working experience and occupation: Currently is a Director of Pacific Regal Sdn. Bhd. and Oriental Sand Pte Ltd. Served with Abric Berhad (1999-2007), in the position of Executive Director - Chief Operating Officer, Executive Director - Global Sales & Marketing, General Manager - Business Development. He was with Citibank Berhad (1995-1999) served as Leverage Finance and Advisory Unit, Citicorp Capital Sdn. Bhd. and Management Associate Program.
Directorship of public companies (if any): ISS Consulting Solutions Berhad (Ace Market)
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
Company Name: HO HUP CONSTRUCTION COMPANY BHD
Stock Name: HOHUP
Date Announced: 12/08/2010
Announcement Detail:
Date of change: 12/08/2010
Type of change: Appointment
Designation: Director
Directorate: Executive
Name: WONG KIT-LEONG
Age: 39
Nationality: Malaysian
Qualifications: Bachelor of Commerce from University of British Columbia, Canada.
Working experience and occupation: Currently is a Director of Pacific Regal Sdn. Bhd. and Oriental Sand Pte Ltd. Served with Abric Berhad (1999-2007), in the position of Executive Director - Chief Operating Officer, Executive Director - Global Sales & Marketing, General Manager - Business Development. He was with Citibank Berhad (1995-1999) served as Leverage Finance and Advisory Unit, Citicorp Capital Sdn. Bhd. and Management Associate Program.
Directorship of public companies (if any): ISS Consulting Solutions Berhad (Ace Market)
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
YEELEE - ACQUISITION OF SHARES FROM A RELATED PARTY ("ACQUISITION")
Announcement Type: General Announcement
Company Name: YEE LEE CORPORATION BHD
Stock Name: YEELEE
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: ACQUISITION OF SHARES FROM A RELATED PARTY ("ACQUISITION")
Contents: The Board of Directors of Yee Lee Corporation Bhd. ("Yee Lee") is pleased to announce that the Company has on 11th August 2010 acquired 5,500,000 ordinary shares of RM0.50 each in Spritzer Bhd. from Transworld Commodities (M) Sdn. Bhd. (Company No. 68816-M), a related company of Yee Lee for a total consideration of RM5,610,000.00 (Ringgit Malaysia Five Million Six Hundred and Ten Thousand only) pursuant to married deal. After the acquisition, the total shareholding of Yee Lee in Spritzer Bhd. is 42,254,844 shares, representing 32.35% of the total issued and paid-up capital of Spritzer Bhd.
The Announcement details is attached herewith.
This announcement is dated 12th August 2010.
Attachments: announcement of Yee Lee - Acquisition of shares in SB from TC.pdf
Company Name: YEE LEE CORPORATION BHD
Stock Name: YEELEE
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: ACQUISITION OF SHARES FROM A RELATED PARTY ("ACQUISITION")
Contents: The Board of Directors of Yee Lee Corporation Bhd. ("Yee Lee") is pleased to announce that the Company has on 11th August 2010 acquired 5,500,000 ordinary shares of RM0.50 each in Spritzer Bhd. from Transworld Commodities (M) Sdn. Bhd. (Company No. 68816-M), a related company of Yee Lee for a total consideration of RM5,610,000.00 (Ringgit Malaysia Five Million Six Hundred and Ten Thousand only) pursuant to married deal. After the acquisition, the total shareholding of Yee Lee in Spritzer Bhd. is 42,254,844 shares, representing 32.35% of the total issued and paid-up capital of Spritzer Bhd.
The Announcement details is attached herewith.
This announcement is dated 12th August 2010.
Attachments: announcement of Yee Lee - Acquisition of shares in SB from TC.pdf
YEELEE - General Announcement
Announcement Type: General Announcement
Company Name: YEE LEE CORPORATION BHD
Stock Name: YEELEE
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: Distribution Agreement between Yee Lee Trading Co. Sdn. Bhd. ("YLT") and Red Bull Asia FZE ("Agreement")
Contents: Further to our announcement dated 11th August 2010, we enclosed herewith the additional information relating to the Agreement:-
1. There is no tenure of the Agreement. The Agreement is concluded for an indefinite term and may be terminated by either party at the end of each month upon receipt of a written notice subject to a 3 months notice period.
2. The non-exclusive right granted to YLT to distribute and market Red Bull� Energy Drink and Red Bull� Sugarfree within Malaysia in its respective borders means within East and West Malaysia.
This announcement is dated 12th August 2010.
Company Name: YEE LEE CORPORATION BHD
Stock Name: YEELEE
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: Distribution Agreement between Yee Lee Trading Co. Sdn. Bhd. ("YLT") and Red Bull Asia FZE ("Agreement")
Contents: Further to our announcement dated 11th August 2010, we enclosed herewith the additional information relating to the Agreement:-
1. There is no tenure of the Agreement. The Agreement is concluded for an indefinite term and may be terminated by either party at the end of each month upon receipt of a written notice subject to a 3 months notice period.
2. The non-exclusive right granted to YLT to distribute and market Red Bull� Energy Drink and Red Bull� Sugarfree within Malaysia in its respective borders means within East and West Malaysia.
This announcement is dated 12th August 2010.
WWE - WWE HOLDINGS BHD ("WWE") PROPOSED RESTRUCTURING AGREEMENT
Announcement Type: General Announcement
Submitting Merchant Bank: HWANGDBS INVESTMENT BANK BERHAD
Company Name: WWE HOLDINGS BHD
Stock Name: WWE
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: WWE HOLDINGS BHD ("WWE")
PROPOSED RESTRUCTURING AGREEMENT
Contents: For consistency, the abbreviations used throughout this announcement shall have the same meaning as defined in the announcement dated 20 October 2009 unless stated otherwise.
Reference is made to the announcement dated 14 July 2010.
On behalf of the Board of Directors of WWE, HwangDBS Investment Bank Berhad and Hong Leong Investment Bank Berhad wish to announce that on even date, WWE has elected not to appeal SC's decision to reject the Proposed Restructuring Scheme.
This announcement is dated 12 August 2010
Submitting Merchant Bank: HWANGDBS INVESTMENT BANK BERHAD
Company Name: WWE HOLDINGS BHD
Stock Name: WWE
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: WWE HOLDINGS BHD ("WWE")
PROPOSED RESTRUCTURING AGREEMENT
Contents: For consistency, the abbreviations used throughout this announcement shall have the same meaning as defined in the announcement dated 20 October 2009 unless stated otherwise.
Reference is made to the announcement dated 14 July 2010.
On behalf of the Board of Directors of WWE, HwangDBS Investment Bank Berhad and Hong Leong Investment Bank Berhad wish to announce that on even date, WWE has elected not to appeal SC's decision to reject the Proposed Restructuring Scheme.
This announcement is dated 12 August 2010
SEEHUP - General Announcement
Announcement Type: General Announcement
Company Name: SEE HUP CONSOLIDATED BERHAD
Stock Name: SEEHUP
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: SEE HUP CONSOLIDATED BERHAD ("SEE HUP" OR "THE COMPANY")
- PROPOSED SHAREHOLDERS MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE AND THE PROVISION OF FINANCIAL ASSISTANCE BETWEEN THE COMPANY AND ITS SUBSIDIARIES VIA THE CENTRALISED TREASURY MANAGEMENT FUNCTION
Contents: 1. INTRODUCTION
See Hup is pleased to announce that the Company is proposing to seek a renewal of the shareholders' mandate for the existing recurrent related party transactions of a revenue or trading nature and the provision of financial assistance between the Company and its subsidiaries via the centralised treasury management function and the proposed new shareholders' mandate for the Group's additional recurrent related party transactions ("Proposed Shareholders' Mandate"), pursuant to the Listing Requirements of the Bursa Malaysia Securities Berhad at the forthcoming Annual General Meeting of the Company.
2. DETAILS OF THE PROPOSED SHAREHOLDERS' MANDATE
At the Annual General Meeting of the Company held on 15 September 2009, the Company had obtained shareholders' mandate to undertake the recurrent related party transactions entered into by the Group. The authority to undertake the recurrent related party transactions and the renewal of financial assistance between the Company and its subsidiaries via the centralised treasury management function shall lapse at the conclusion of the next Annual General Meeting unless the authority is renewed.
The Board therefore proposes to seek a renewal of the approval from the shareholders of the Company for the Proposed Sharholders' Mandate to comply with the Listing Requirements of the Bursa Malaysia Securities Berhad in the forthcoming Annual General Meeting of the Company.
A circular containing the details of the Proposed Shareholders' Mandate will be despatched to the shareholders of See Hup in due course.
Company Name: SEE HUP CONSOLIDATED BERHAD
Stock Name: SEEHUP
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: SEE HUP CONSOLIDATED BERHAD ("SEE HUP" OR "THE COMPANY")
- PROPOSED SHAREHOLDERS MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE AND THE PROVISION OF FINANCIAL ASSISTANCE BETWEEN THE COMPANY AND ITS SUBSIDIARIES VIA THE CENTRALISED TREASURY MANAGEMENT FUNCTION
Contents: 1. INTRODUCTION
See Hup is pleased to announce that the Company is proposing to seek a renewal of the shareholders' mandate for the existing recurrent related party transactions of a revenue or trading nature and the provision of financial assistance between the Company and its subsidiaries via the centralised treasury management function and the proposed new shareholders' mandate for the Group's additional recurrent related party transactions ("Proposed Shareholders' Mandate"), pursuant to the Listing Requirements of the Bursa Malaysia Securities Berhad at the forthcoming Annual General Meeting of the Company.
2. DETAILS OF THE PROPOSED SHAREHOLDERS' MANDATE
At the Annual General Meeting of the Company held on 15 September 2009, the Company had obtained shareholders' mandate to undertake the recurrent related party transactions entered into by the Group. The authority to undertake the recurrent related party transactions and the renewal of financial assistance between the Company and its subsidiaries via the centralised treasury management function shall lapse at the conclusion of the next Annual General Meeting unless the authority is renewed.
The Board therefore proposes to seek a renewal of the approval from the shareholders of the Company for the Proposed Sharholders' Mandate to comply with the Listing Requirements of the Bursa Malaysia Securities Berhad in the forthcoming Annual General Meeting of the Company.
A circular containing the details of the Proposed Shareholders' Mandate will be despatched to the shareholders of See Hup in due course.
AZRB - Article entitled: Ahmad Zaki building new flyover
Announcement Type: General Announcement
Company Name: AHMAD ZAKI RESOURCES BERHAD
Stock Name: AZRB
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: Article entitled: Ahmad Zaki building new flyover
Contents: Reference is made to the article entitled "Ahmad Zaki building new flyover" appearing in The Star on 12 August 2010 and in particular to the following sections and sentences.
"It has recently being awarded six UiTM campus jobs on a PFI basis.."
The Board of Directors of Ahmad Zaki Resources Berhad ("AZRB") wishes to state firmly and categorically that AZRB has not been awarded nor has AZRB bid for any UiTM campus jobs. The statement reported in The Star article is incorrect. AZRB wishes to affirm that AZRB will make due announcement of any significant projects awarded to AZRB on a timely basis as and when such awards are confirmed, in line with our obligations as a public listed company on Bursa Malaysia.
"For the financial year ending Dec 31, Ahmad Zaki expects to record double-digit growth in its earnings, boosted by new projects in hand."
The Board of Directors of AZRB wishes to point out that the above statement had previously appeared in a different form in the article "Ahmad Zaki: 30 pc of group revenue from plantation within 48 months" appearing in New Straits Times on 22 June 2010. The basis of the statement was from a press conference held by AZRB following its Annual General Meeting held on 21 June 2010, to which The Star was not represented. AZRB wishes to clarify that AZRB had already addressed this statement in its previous announcement dated 23 June 2010.
AZRB wishes to clarify that neither AZRB's managing director, Dato' Wan Zakariah Wan Muda nor his officers had held any interview with the reporter or The Star as a whole regarding any of the facts reported in the article.
This announcement is dated 12 August 2010.
Company Name: AHMAD ZAKI RESOURCES BERHAD
Stock Name: AZRB
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: Article entitled: Ahmad Zaki building new flyover
Contents: Reference is made to the article entitled "Ahmad Zaki building new flyover" appearing in The Star on 12 August 2010 and in particular to the following sections and sentences.
"It has recently being awarded six UiTM campus jobs on a PFI basis.."
The Board of Directors of Ahmad Zaki Resources Berhad ("AZRB") wishes to state firmly and categorically that AZRB has not been awarded nor has AZRB bid for any UiTM campus jobs. The statement reported in The Star article is incorrect. AZRB wishes to affirm that AZRB will make due announcement of any significant projects awarded to AZRB on a timely basis as and when such awards are confirmed, in line with our obligations as a public listed company on Bursa Malaysia.
"For the financial year ending Dec 31, Ahmad Zaki expects to record double-digit growth in its earnings, boosted by new projects in hand."
The Board of Directors of AZRB wishes to point out that the above statement had previously appeared in a different form in the article "Ahmad Zaki: 30 pc of group revenue from plantation within 48 months" appearing in New Straits Times on 22 June 2010. The basis of the statement was from a press conference held by AZRB following its Annual General Meeting held on 21 June 2010, to which The Star was not represented. AZRB wishes to clarify that AZRB had already addressed this statement in its previous announcement dated 23 June 2010.
AZRB wishes to clarify that neither AZRB's managing director, Dato' Wan Zakariah Wan Muda nor his officers had held any interview with the reporter or The Star as a whole regarding any of the facts reported in the article.
This announcement is dated 12 August 2010.
ANALABS - General Announcement
Announcement Type: General Announcement
Company Name: ANALABS RESOURCES BERHAD
Stock Name: ANALABS
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: Analabs Resources Berhad ("Analabs" or "the Company")
- Notification by Principal Officer pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa") in respect of dealings outside closed period
Contents: We wish to announce that the Company had been notified of the following dealing by the following Principal Officer of the Company pursuant to Paragraph 14.09 of Bursa's Listing Requirements:-
Company Name: ANALABS RESOURCES BERHAD
Stock Name: ANALABS
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: Analabs Resources Berhad ("Analabs" or "the Company")
- Notification by Principal Officer pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa") in respect of dealings outside closed period
Contents: We wish to announce that the Company had been notified of the following dealing by the following Principal Officer of the Company pursuant to Paragraph 14.09 of Bursa's Listing Requirements:-
PETRA - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: PETRA PERDANA BERHAD
Stock Name: PETRA
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: PETRA PERDANA BERHAD ("PPB" OR THE "COMPANY")
VARIATION OF THE UTILISATION OF PROCEEDS FROM PRIVATE PLACEMENT
Contents: We refer to the announcements dated 11 May 2010, 19 May 2010, 10 June 2010, 24 June 2010, 25 June 2010, 29 June 2010, 1 July 2010 and 2 July 2010 in relation to, amongst others, the Proposed Placement (hereinafter referred to as the "Placement"). All abbreviations herein shall have the same meanings as those used in the abovementioned announcements unless stated otherwise.
On behalf of PPB, CIMB Investment Bank Berhad had, on 24 June 2010, announced that the proceeds from the Placement will be used to pay the refundable deposits in respect of sale and leaseback of two (2) Anchor Handling Tug / Support Vessels ("AHTS") ("Deposits") upon its delivery.
Subsequently, on 12 August 2010, PPB had announced that Perdana Venus Limited, a wholly-owned subsidiary of PPB, has given a notice of cancellation of the Memorandum of Agreement in respect of one (1) of the AHTS to Nam Cheong Dockyard Sdn Bhd on 11 August 2010 ("Cancellation").
As a result of the Cancellation, part of the proceeds from the Placement amounting to RM19.78 million which was previously intended to be utilised towards the payment of the Deposits shall now be earmarked for working capital purposes.
This announcement is dated 12 August 2010.
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: PETRA PERDANA BERHAD
Stock Name: PETRA
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: PETRA PERDANA BERHAD ("PPB" OR THE "COMPANY")
VARIATION OF THE UTILISATION OF PROCEEDS FROM PRIVATE PLACEMENT
Contents: We refer to the announcements dated 11 May 2010, 19 May 2010, 10 June 2010, 24 June 2010, 25 June 2010, 29 June 2010, 1 July 2010 and 2 July 2010 in relation to, amongst others, the Proposed Placement (hereinafter referred to as the "Placement"). All abbreviations herein shall have the same meanings as those used in the abovementioned announcements unless stated otherwise.
On behalf of PPB, CIMB Investment Bank Berhad had, on 24 June 2010, announced that the proceeds from the Placement will be used to pay the refundable deposits in respect of sale and leaseback of two (2) Anchor Handling Tug / Support Vessels ("AHTS") ("Deposits") upon its delivery.
Subsequently, on 12 August 2010, PPB had announced that Perdana Venus Limited, a wholly-owned subsidiary of PPB, has given a notice of cancellation of the Memorandum of Agreement in respect of one (1) of the AHTS to Nam Cheong Dockyard Sdn Bhd on 11 August 2010 ("Cancellation").
As a result of the Cancellation, part of the proceeds from the Placement amounting to RM19.78 million which was previously intended to be utilised towards the payment of the Deposits shall now be earmarked for working capital purposes.
This announcement is dated 12 August 2010.
ACOSTEC - RECURRENT RELATED PARTY TRANSACTIONS
Announcement Type: General Announcement
Company Name: ACOUSTECH BERHAD
Stock Name: ACOSTEC
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: RECURRENT RELATED PARTY TRANSACTIONS
Contents: We refer to our announcement made on 6 July 2010 and wishes to announce that as at 31 July 2010 the total amount of Recurrent Related Party Transactions ("RRPTs") entered into by the Company has exceeded by another 10% of the estimated value of the transactions value as disclosed in the Company's Circular to Shareholders dated 25 August 2009.
The estimated value of RRPTs as disclosed in the circular to shareholder was RM69,871,000 ("Estimated Value")
As announced in 6 July 2010 the actual value of the RRPTs transacted, from 17 September 2009, being the date on which the existing mandate was obtained up to 30 June 2010 was RM82,866,000 ("Actual Value"). The Actual Value transacted up to 31 July 2010 has increased to RM92,965,000.
The incremental Actual Value transacted as at 31 July 2010 amounted to RM10,099,000 or 12.18%. The Actual Value transacted up to 31 July 2010 as compared to the Estimated Value varied by RM23,094,000 or 33.05%.
The difference was due to increased customer purchase orders received by the Related parties which was higher than budgeted by the Company.
This announcement is dated 12 August 2010.
Company Name: ACOUSTECH BERHAD
Stock Name: ACOSTEC
Date Announced: 12/08/2010
Announcement Detail:
Type: Announcement
Subject: RECURRENT RELATED PARTY TRANSACTIONS
Contents: We refer to our announcement made on 6 July 2010 and wishes to announce that as at 31 July 2010 the total amount of Recurrent Related Party Transactions ("RRPTs") entered into by the Company has exceeded by another 10% of the estimated value of the transactions value as disclosed in the Company's Circular to Shareholders dated 25 August 2009.
The estimated value of RRPTs as disclosed in the circular to shareholder was RM69,871,000 ("Estimated Value")
As announced in 6 July 2010 the actual value of the RRPTs transacted, from 17 September 2009, being the date on which the existing mandate was obtained up to 30 June 2010 was RM82,866,000 ("Actual Value"). The Actual Value transacted up to 31 July 2010 has increased to RM92,965,000.
The incremental Actual Value transacted as at 31 July 2010 amounted to RM10,099,000 or 12.18%. The Actual Value transacted up to 31 July 2010 as compared to the Estimated Value varied by RM23,094,000 or 33.05%.
The difference was due to increased customer purchase orders received by the Related parties which was higher than budgeted by the Company.
This announcement is dated 12 August 2010.
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