September 20, 2010

Company announcements: KULIM, PPB-CA, BJLAND, TAANN, PLUS, KINSTEL-WA, MASTEEL, UEMLAND-CB, KIMLUN, PROTON-CC

KULIM - General Announcement

Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: KULIM (MALAYSIA) BERHAD
Stock Name: KULIM
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: KULIM (MALAYSIA) BERHAD ("KULIM" OR "COMPANY")

PROPOSED DISPOSAL OF KULIM'S ENTIRE 91.38% EQUITY INTEREST IN NATURAL OLEOCHEMICALS SDN BHD ("NATOLEO"), COMPRISING 186,560,000 ORDINARY SHARES OF RM1.00 EACH IN NATOLEO FOR A CASH CONSIDERATION OF RM450,000,000 ("PROPOSED DISPOSAL")

Contents: We refer to our announcements dated 21 July 2010, 23 July 2010 and 6 September 2010 relating to the above-captioned matter.

On behalf of the Board of Directors of KULIM, we are pleased to announce that the Ministry of International Trade and Industry ("MITI") had, vide its letter dated 7 September 2010 (received on 20 September 2010), approved the applications of Dubois-Natural Esters Sdn Bhd and Natural Soaps Sdn Bhd, subsidiaries of NatOleo, with regard to the abolishment of equity conditions imposed on the respective subsidiaries' manufacturing licences.

No condition has been imposed with regard to the MITI's approval.

This announcement is dated 20 September 2010.


PPB-CA - General Announcement

Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Name: PPB-CA: CW PPB GRP BHD (OSK)
Stock Name: PPB-CA
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: EXPIRY OF NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF PPB GROUP BERHAD ("PPB") ("PPB-CA")

Contents: EXPIRY OF NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF PPB GROUP BERHAD ("PPB") ("PPB-CA")


BJLAND - STRIKING OFF OF DORMANT SUBSIDIARIES

Announcement Type: General Announcement
Company Name: BERJAYA LAND BERHAD
Stock Name: BJLAND
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: STRIKING OFF OF DORMANT SUBSIDIARIES

Contents: The Board of Directors of Berjaya Land Berhad wishes to inform that Sports Toto (Fiji) Limited and Waidroka Trust Estates Limited, a dormant subsidiary companies incorporated in the Republic of Fiji, have been struck off from the Registrar of Companies and accordingly confirmed dissolved as at 20 September 2010.

Waidroka Trust Estates Limited is a dormant wholly owned subsidiary of Sports Toto (Fiji) Limited, which in turn a wholly owned subsidiary of Berjaya Land Berhad.


TAANN - General Announcement

Announcement Type: General Announcement
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: TA ANN HOLDINGS BERHAD
Stock Name: TAANN
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: TA ANN HOLDINGS BERHAD ("TA ANN" OR "COMPANY")

- BONUS ISSUE OF 42,886,326 NEW ORDINARY SHARES OF RM1.00 EACH IN TA ANN ("BONUS SHARES") TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY FIVE (5) EXISTING SHARES HELD ON THE ENTITLEMENT DATE ("BONUS ISSUE")

Contents: On behalf of the Board of Directors of Ta Ann, AmInvestment Bank Berhad (a member of AmInvestment Bank Group) wishes to announce that 42,886,326 Bonus Shares will be issued pursuant to the Bonus Issue.

The 42,886,326 Bonus Shares will be listed and quoted on Bursa Malaysia Securities Berhad on 21 September 2010.

The Registrar of Ta Ann will issue and despatch the notices of allotment to all the entitled shareholders of Ta Ann by 24 September 2010.

This announcement is dated 20 September 2010.


PLUS - General Announcement

Announcement Type: General Announcement
Company Name: PLUS EXPRESSWAYS BERHAD
Stock Name: PLUS
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: PROPOSED FOUR LANING OF JETPUR-SOMNATH SECTION OF NH-8D (127 KM) IN THE STATE OF GUJARAT, INDIA ON DESIGN, BUILT, FINANCE, OPERATE AND TRANSFER ("DBFOT") BASIS

Contents: 1. INTRODUCTION

We wish to notify the Exchange that the unincorporated consortium consisting of PLUS Expressways Berhad and its joint bidding partner, IDFC Projects Limited ("Consortium") has on 14 September 2010, received a letter dated 13 September 2010 from the National Highways Authority of India ("NHAI") informing that the Consortium has won the tender bid for the proposed Four Laning of Jetpur-Somnath Section of NH-8D from km 0.000 to km 127.600 in the State of Gujarat, India to be executed on Design, Built, Finance, Operate and Transfer ("DBFOT") basis ("Proposed Project").

The Consortium has accordingly reverted to NHAI on 20 September 2010 accepting the offer to undertake the Proposed Project.


2. DETAILS OF THE PROPOSED PROJECT

The Proposed Project is a section of National Highway 8D which starts at Jetpur and ends at Somnath, with total length of 127.6km. The concession shall be for a period of thirty (30) years from the date of the proposed execution of the relevant Concession Agreement, including construction period of approximately 30 months.

The scope of work for the Proposed Project broadly includes rehabilitation, upgrading and widening the existing carriageway to four-lane with construction of new pavement, rehabilitation of existing pavement, bridges, culverts, interchanges etc, and the operation and maintenance thereof.


3. INFORMATION ON CONSORTIUM PARTNER AND THE CONSORTIUM

IDFC Projects Limited ("IP") is the subsidiary of Infrastructure Development Funding Corporation, ("IDFC"). IDFC was established by the Government of India in 1997 to lead a private capital funding into commercially viable infrastructure projects in India. It was the country's largest infrastructure financial intermediary of which 45% of its shares are held by foreign development institutions/ foreign investment institutions; 35% by local financial institutions, corporate bodies and retail; and 20% by the Government of India. PEB's ultimate holding company, Khazanah Nasional Berhad ("Khazanah"), currently holds about 8.97% (as on 31st August 2010) of IDFC.

IP was established by IDFC in December 2007 as its project development arm, which has undertaken several expressway projects in India.

The Consortium shall form a Special Purpose Vehicle ("SPV") which will enter into the Concession Agreement for the Proposed Project. The proposed shareholding between IP and PEB in the Consortium is 74:26. Details of the roles and responsibilities as well as shareholding of each party shall be announced once the SPV is incorporated and formalised.


4. RATIONALE FOR THE PROPOSED PROJECT

In line with PEB Group's Strategic Plans, PEB continues to drive business growth and actively seeks value-accretive expansion opportunities, both locally and overseas. The Proposed Project is part of PEB Group's strategic growth plans which strengthens the Group's position for further expansion in the competitive Indian infrastructure sector. This venture signifies the Group's serious intention to further grow in India as a focus country for expansion, as well as taking a step towards becoming a premier global expressway group.



5. PROSPECTS OF PROPOSED PROJECT

PEB's Board of Directors is optimistic on the outlook of the Proposed Project which is expected to experience increasing traffic growth in tandem with new developments along the corridor.

National Highway 8 ("NH 8") is a National Highway in India that connects the Indian capital city of New Delhi with the Indian Financial capital city of Mumbai. The highway passes through the State capitals of Gandhinagar and Jaipur, as well as major cities like Ahmedabad, Surat and Vadodara. This highway is part of the Golden Quadrilateral project undertaken by NHAI and was the first part to be completed. Before entering downtown Mumbai, NH 8 passes through nearly all suburbs on the Western line of Mumbai Suburban Railway, where it is popularly known as Western Express Highway.

The starting point of the corridor for the Proposed Project is from junction of NH 8B and NH 8D near Jetpur town in Rajkot district which passes through commercial and residential zone of the town on the both sides of the road. The end point of the corridor is the approach to the famous Somnath temple on the western coast line.

The corridor also caters to the traffic to several industries located on the southern coastline of Saurashtra region, which constitutes about 24% of total population of Gujarat State.
The Board believes that the Proposed Project will provide PEB Group with an opportunity to further participate in the growing infrastructure development in India.

6. RISK FACTORS

The Proposed Project is subject to risks inherent in the toll / expressways concession industry, amongst others, traffic risks and regulatory risks.


7. EFFECTS OF THE PROPOSED PROJECT

The Proposed Project is not expected to have any material effect on PEB's consolidated earnings, earnings per share, net assets ("NA"), NA per share and gearing. The Proposed Project will not have any effect on PEB's share capital and substantial shareholders' shareholding.


8 PERCENTAGE RATIOS UNDER PARAGRAPH 10.02(G) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("LISTING REQUIREMENTS")

The highest percentage ratio applicable to the Proposed Acquisition as per Paragraph 10.02(g) of Chapter 10 of the Listing Requirements is the aggregate cost of the investment compared with the NA of the PEB Group which amounts to approximately 1.00% based on the latest audited consolidated financial statements of the PEB Group for the financial year ended 31 December 2009.


9. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

Save as disclosed below, none of the directors and/or major shareholders of the Company and/or persons connected to them have any interest, direct and/or indirect in the Proposed Project:

Major shareholders' interests - Khazanah as at 1st September 2010 effectively owns 55.22% of PEB (direct ownership of 16.74% and indirect ownership through UEM Group Berhad of 38.48%). Khazanah's shareholding in IDFC as at 31st August 2010 is 8.97%. IDFC in turn owns 100% interest in IDFC Projects Limited.




10. APPROVALS REQUIRED
The transaction is not subject to approval of PEB's shareholders or of any government authorities.

11. DIRECTORS' STATEMENT
The Board of PEB, after having considered all aspects of the Proposed Project, is of the opinion that the transaction is in the best interest of the Company in view of its long term investment strategy in India.

12. ESTIMATED TIMEFRAME

The Concession Agreement for the Proposed Project is expected to be executed by mid October 2010.


This announcement is dated 20 September 2010.


KINSTEL-WA - Profile for Warrants

Announcement Type: Listing Information & Profile
Company Name: KINSTEEL BHD
Stock Name: KINSTEL-WA
Date Announced: 20/09/2010

Announcement Detail:
Instrument Type: Warrants

Description: The warrant 2005/2011 issued by the Company which entitles the registered holders to subscribe for one new ordinary share in the Company for each warrant held at the adjusted exercise price of RM0.20 per share subject to adjustments as may be allowed under the Deed Poll dated 24 January 2005 and Supplemental Deed Poll dated 21 September 2007 during the exercise period of six (6) years and six (6) months expiring on 11 November 2011.

Listing Date: 31/05/2005

Issue Date: 11/05/2005

Issue/ Ask Price: MYR 1.0000

Issue Size Indicator: Unit

Issue Size in Unit: 40,000,000

Maturity Date: 11/11/2011

Exercise/ Conversion Period: 78.00 Month(s)

Exercise/Strike/Conversion Price: MYR 1.0000

Revised Exercise/Strike/Conversion Price: MYR 0.2000

Exercise/ Conversion Ratio: 1:1

Mode of satisfaction of Exercise/ Conversion price: Cash

Settlement Type/ Convertible into: Physical (Shares)


MASTEEL - Important Relevant Dates for Renounceable Rights

Announcement Type: Important Relevant Dates for Renounceable Rights
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: MALAYSIA STEEL WORKS (KL) BHD
Stock Name: MASTEEL
Date Announced: 20/09/2010

Announcement Detail:
Title / Description: MALAYSIA STEEL WORKS (KL) BHD ("Masteel" or "Company")

RENOUNCEABLE RIGHTS ISSUE OF 105,378,333 FIVE (5)-YEAR WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM0.50 EACH IN MASTEEL ("MASTEEL SHARES") HELD AT 5.00 P.M. ON 4 OCTOBER 2010 AT AN ISSUE PRICE OF RM0.18 PER WARRANT ("WARRANTS ISSUE")

Despatch Date: 06/10/2010

Remarks: The last date and time for acceptance and payment as well as for excess application and payment is 19 October 2010 or any such later date and time as may be determined and announced by the Directors of Masteel not less than two (2) market days prior to the stipulated closing date.

This announcement is dated 20 September 2010.


UEMLAND-CB - General Announcement

Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Name: UEMLAND-CB: CW UEM LAND HLDGS BHD (OSK)
Stock Name: UEMLAND-CB
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: EXPIRY OF NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF UEM LAND HOLDINGS BERHAD ("UEMLAND") ("UEMLAND-CB")

Contents: EXPIRY OF NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF UEM LAND HOLDINGS BERHAD ("UEMLAND") ("UEMLAND-CB")


KIMLUN - General Announcement

Announcement Type: General Announcement
Company Name: KIMLUN CORPORATION BERHAD
Stock Name: KIMLUN
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: KIMLUN CORPORATION BERHAD ("KIMLUN")
- RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE ("RRPTS")

Contents: The Board of Directors of KIMLUN wishes to announce the RRPTS entered into by the Company's wholly-owned subsidiaries for the period from 20 August 2010 to 20 September 2010.

Kindly refer to the attachment for further details.

This announcement is dated 20 September 2010.

Attachments: Kimlun.Announcement RRPTs (20.9.2010).pdf


PROTON-CC - General Announcement

Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Name: PROTON-CC: CW PROTON HLDGS BHD (OSK)
Stock Name: PROTON-CC
Date Announced: 20/09/2010

Announcement Detail:
Type: Announcement

Subject: EXPIRY OF NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF PROTON HOLDINGS BERHAD ("PROTON") ("PROTON-CC")

Contents: EXPIRY OF NON-COLLATERALISED EUROPEAN-STYLE CASH SETTLED CALL WARRANTS OVER ORDINARY SHARES OF PROTON HOLDINGS BERHAD ("PROTON") ("PROTON-CC")



No comments:

Post a Comment