MAXBIZ - MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY") - RESTRAINING ORDER ("RO")
Announcement Type: General Announcement
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 21/10/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: IJ-101020-41736
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- RESTRAINING ORDER ("RO")
Contents: The Board of Directors ("the Board") of MAXBIZ refers to the query letter dated 20 October 2010 from Bursa Malaysia Securities Berhad in relation to the Company's announcement dated 19 October 2010 regarding the Restraining Order ("RO"). The Company wishes to provide the following additional information requested for public release:-
1) MAXBIZ filed an application to Court on 30 September 2010 for a RO application. Order was made on 18 October 2010.
2)(i) The suit should read D1-22-647-2007 (instead of W-02-1397-2008) where the Plaintiff is Pacific Trustees Berhad and the Defendant is MAXBIZ. The claim is for RM23,070,388.83 (being principal amount of the RCSLS of RM22,615,598.00 with interest at the rate of 2% per annum and additional late interest payment of 1% per annum on all overdue sums) and RM3,149,589.04 (being principal amount of the RULS of RM3,000,000 with interest at the rate of 6% per annum) and other cost.
(ii) In relation to suit 24-480-2007 the Plaintiff is Pacific Trustees Berhad and the Defendant is MAXBIZ. The suit is in for an order for sale of a piece of land held under HSD 30478, Lot PT 4943, Mukim Bachang, Daerah Melaka Tengah, Negeri Melaka. The order for auction was granted on 2 August 2010. The auction was held on 18 October 2010.
3) MAXBIZ being the guarantor for MKK's CIMB loan.
4) All parties will be affected by the RO save and except for Pacific Trustees Berhad.
5) The details of the proposed Scheme shall be announced in due course.
This announcement is dated 21 October 2010.
Query Letter content: We refer to your Company's announcement dated 19 October 2010, in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
The details of the event leading to the RO;
The details of Suit No. W-02-1397-2008 and 24-480-2007 in relation to Pacific
Trustees Bhd;
The identity and details of the guarantors of the Company for which the RO will
also be extended to;
Further clarification on the parties that will be personally affected by the RO
i.e. the name of the persons and/or companies; and
The details of the proposed Scheme.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
CHONG FUI TZY
Head, Issuers
Listing Division
Regulation
HTH/IJ
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 21/10/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: IJ-101020-41736
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- RESTRAINING ORDER ("RO")
Contents: The Board of Directors ("the Board") of MAXBIZ refers to the query letter dated 20 October 2010 from Bursa Malaysia Securities Berhad in relation to the Company's announcement dated 19 October 2010 regarding the Restraining Order ("RO"). The Company wishes to provide the following additional information requested for public release:-
1) MAXBIZ filed an application to Court on 30 September 2010 for a RO application. Order was made on 18 October 2010.
2)(i) The suit should read D1-22-647-2007 (instead of W-02-1397-2008) where the Plaintiff is Pacific Trustees Berhad and the Defendant is MAXBIZ. The claim is for RM23,070,388.83 (being principal amount of the RCSLS of RM22,615,598.00 with interest at the rate of 2% per annum and additional late interest payment of 1% per annum on all overdue sums) and RM3,149,589.04 (being principal amount of the RULS of RM3,000,000 with interest at the rate of 6% per annum) and other cost.
(ii) In relation to suit 24-480-2007 the Plaintiff is Pacific Trustees Berhad and the Defendant is MAXBIZ. The suit is in for an order for sale of a piece of land held under HSD 30478, Lot PT 4943, Mukim Bachang, Daerah Melaka Tengah, Negeri Melaka. The order for auction was granted on 2 August 2010. The auction was held on 18 October 2010.
3) MAXBIZ being the guarantor for MKK's CIMB loan.
4) All parties will be affected by the RO save and except for Pacific Trustees Berhad.
5) The details of the proposed Scheme shall be announced in due course.
This announcement is dated 21 October 2010.
Query Letter content: We refer to your Company's announcement dated 19 October 2010, in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
The details of the event leading to the RO;
The details of Suit No. W-02-1397-2008 and 24-480-2007 in relation to Pacific
Trustees Bhd;
The identity and details of the guarantors of the Company for which the RO will
also be extended to;
Further clarification on the parties that will be personally affected by the RO
i.e. the name of the persons and/or companies; and
The details of the proposed Scheme.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
CHONG FUI TZY
Head, Issuers
Listing Division
Regulation
HTH/IJ
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
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