AZRB - General Announcement
Announcement Type: General Announcement
Company Name: AHMAD ZAKI RESOURCES BERHAD
Stock Name: AZRB
Date Announced: 11/11/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NE-101110-60747
Subject: AHMAD ZAKI RESOURCES BERHAD ("AZRB" or "the Company")
-PROPOSED DISPOSAL OF APPROXIMATELY 21.26% EQUITY INTEREST IN EASTERN PACIFIC INDUSTRIAL CORPORATION BERHAD ("EPIC") COMPRISING 35,970,000 ORDINARY SHARES OF RM1.00 EACH TO LEMBAGA TABUNG AMANAH WARISAN NEGERI TERENGGANU FOR A TOTAL CASH CONSIDERATION OF RM111.5 MILLION ("PROPOSED DISPOSAL")
Contents: Reference is made to our announcement dated 8 November 2010 and Bursa Malaysia Berhad's letter dated 10 November 2010 in relation to the Proposed Disposal. The Company wishes to provide the following additional information:-
1. The manner in which the consideration will be satisfied including the terms of any arrangement for payment on a deferred basis.
The consideration will be fully satisfied in cash. Payment will be made upon transfer in accordance with the rules of Bursa Malaysia Depository Sdn Bhd and projected by end of 2010.
2. The timeframe for full utilisation of proceeds.
The proceeds are expected to be fully utilised by first quarter of 2011.
3. Details of the purchaser.
LTAW is established under the State of Terengganu Enactment No. 2/1990, as amended by the Enactment No. 1/1996 and having its address at Pejabat Perbendaharaan Negeri, Tingkat 4, Wisma Darul Iman, 20592 Kuala Terengganu, Terengganu Darul Iman.
4. Particulars of all liabilities to be assumed by the purchaser arising from the Proposed Disposal.
There are no liabilities to be assumed by LTAW arising from the Proposed Disposal.
5. The original costs of investment and the date of such investment.
Please refer to Table A.
6. Salient features of the Share Sale Agreement ("SSA").
The salient terms of the conditional SSA in relation to the Proposed Disposal are as follow:
(i) AZRB agrees to sell the Sale Shares and LTAW agrees to purchase from AZRB, the Sale Shares at Disposal Consideration, free from any encumbrance and with all rights attached thereto with effect from the Completion Date and in accordance with and subject to the terms and conditions set out in the SSA;
(ii) The SSA is conditional upon the following conditions being fulfilled on or before the expiry of the Approval Period:
(a) if required, approval of the FIC is obtained;
(b) the approval of the shareholders of AZRB in a general meeting; and
(c) such other approvals (if any) as may be necessary from any relevant competent authority or agency.
(iii) Completion of the sale and purchase of the Sale Shares shall take place whereupon AZRB shall on the Completion Date receive the Disposal Consideration for all the Sale Shares to transact the sale of the Sale Shares to LTAW and LTAW shall cause to be transacted the purchase of the Sale Shares from AZRB at the Disposal Consideration in accordance with the rules of Bursa Malaysia Depository Sdn Bhd.
(iv) In the event that the disposal of the Sale Shares is not completed in accordance with the provisions of the SSA or AZRB is in default or breach of the SSA, without prejudice to other provisions of the SSA, LTAW is at liberty to elect either of the following remedies:
(a) to commence proceedings against the defaulting AZRB for specific performance; or
(b) to terminate the SSA forthwith by notice in writing to AZRB to that effect and thereafter the SSA shall become null and void without prejudice to the rights of LTAW against the defaulting AZRB or damages in respect of such breach and/or default.
(v) In the event that LTAW fails to punctually settle the Disposal Consideration or fails without cause to complete the purchase of the Sale Shares in accordance to with the provisions of the SSA or otherwise is in material breach of the SSA, the non-defaulting and aggrieved AZRB is at liberty to elect either of the following remedies:
(a) to commence proceedings against LTAW for specific performance; or
(b) to terminate the SSA forthwith by notice in writing to LTAW to that effect and thereafter the SSA shall become null and void without prejudice to the rights of AZRB for damages in respect of such breach and/or default.
7. Document available for inspection
The SSA is available for inspection at the registered office of AZRB, No. 6, Jalan Bangsar Utama 9, Bangsar Utama, 59000 Kuala Lumpur, between 9:00 am to 5:00 pm from Mondays to Fridays (except for public holidays) for a period 30 days from the date of this announcement.
8. Information prescribed under item 19(d), Part A, Appendix 10A of the Main Market Listing requirements:-
(d) where another corporation is acquired or disposed of, or where shares or other securities in another corporation are to be received as consideration for a disposal, the following information in respect of the other corporation in an appendix:
(i) the general nature of business conducted by the corporation and its subsidiaries including principal products manufactured or services rendered and principal markets for the products or services;
EPIC was incorporated in Malaysia on 17 January 1981 under the Companies Act, 1965 as a private limited company under the name of Corrugated Carton Products Sdn Bhd ("CCP") and its principal activity then was manufacturing of corrugated carton products. CCP was later converted into a public company on 21 March 1990 and was listed on Second Board of Bursa Securities on 8 November 1991.
In December 1994, CCP was involved in a reverse takeover exercise whereby Pangkalan Bekalan Kemaman Sdn Bhd, an asset owned by the Terengganu State Economic Development Corporation or otherwise known as Perbadanan Memajukan Iktisad Negeri Terengganu ("PMINT") was injected into CCP. After the injection of assets by PMINT, PMINT became the largest shareholder of CCP with its equity interest of 40% shareholding.
CCP's listing was later transferred to the Main Board on 11 August 1995 and subsequently changed its name to EPIC on 5 March 1996. Later in November 1998, EPIC divested its corrugated carton business and focused its principal activities in the provision of infrastructural facilities and services supporting the oil and gas industry for Peninsular Malaysia, port services and other services. EPIC Group also involved in other activities including the provision of total sludge management, pipe threading and ancillary services and information and communication technology services.
For information on the subsidiaries and associated companies of EPIC, please refer to Table 1.
(ii) the audited financial information (past 3 years or since incorporation, whichever is the later) and the latest interim results, if available, stating turnover, profit before tax and profit after tax and minority interest; and
For financial information of EPIC, please refer to Table 2.
(iii) where there is any material fluctuation in turnover or profits in any of the years, the explanation for the fluctuation.
FYE 31 December 2007
For the FYE 31 December 2007, the EPIC Group's revenue was RM175.74 million, a 56.5% increase over the RM112.26 million achieved in FYE 31 December 2006. PBT also increased from RM18.48 million to RM47.63 million and a corresponding increase in the PAT to RM34.97 million from RM8.72 million. The EPIC Group's main revenue generator continues to come from the Oil and Gas segment which contributed over 84.6% of the overall revenue for the EPIC Group (with Pangkalan Bekalan Kemaman Sdn. Bhd. contributing approximately 57.6% of total revenue).
FYE 31 December 2008
For the FYE 31 December 2008, the EPIC Group achieved a PBT of RM39.84 million on the back of revenue of RM244.79 million, a 39.3% increase over the RM175.74 million achieved in FYE 31 December 2007. However, PBT decreased from RM47.63 million to RM39.84 million together with a corresponding decrease in PAT from RM34.97 million to RM25.90 million. The EPIC Group's Oil and Gas Petrochemical sector was the largest revenue contributor by generating RM221.24 million in revenue which accounted for 90% of total revenue for that financial year.
FYE 31 December 2009
For the FYE 31 December 2009, the EPIC Group recorded a lower revenue of RM183.95 million, 25% lower as compared to RM244.79 million recorded in the FYE 31 December 2008. However, the EPIC Group recorded PBT of RM54.46 million, which was an increase of 37% from the previous financial year's PBT of RM39.84 million and PAT of RM48.94 million which was 88.8% higher than the previous financial year's PAT of RM25.9 million.
This announcement is dated 11 November 2010.
Query Letter content: We refer to your Company's announcement dated 8 November 2010 in respect of the
aforesaid Proposed Disposal.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
The manner in which the consideration will be satisfied including the terms of
any arrangement for payment on a deferred basis;
The timeframe for full utilization of proceeds and details of the purchaser;
Particulars of all liabilities to be assumed by the purchaser arising from the
Proposed Disposal;
The original cost of investment and the date of such investment;
Salient features of the agreement and the time and place where such documents
may be inspected; and
Information prescribed under item 19(d), Part A, Appendix 10A of the Main
Market Listing Requirements.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
KHOO KAY KWAN
Head, Issuers
Listing Division
Regulation
RSA
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Attachments: TABLE 1.docx
TABLE 2.docx
TABLE A.docx
Bursa- Query-Letter dated 10Nov2010.pdf
Company Name: AHMAD ZAKI RESOURCES BERHAD
Stock Name: AZRB
Date Announced: 11/11/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NE-101110-60747
Subject: AHMAD ZAKI RESOURCES BERHAD ("AZRB" or "the Company")
-PROPOSED DISPOSAL OF APPROXIMATELY 21.26% EQUITY INTEREST IN EASTERN PACIFIC INDUSTRIAL CORPORATION BERHAD ("EPIC") COMPRISING 35,970,000 ORDINARY SHARES OF RM1.00 EACH TO LEMBAGA TABUNG AMANAH WARISAN NEGERI TERENGGANU FOR A TOTAL CASH CONSIDERATION OF RM111.5 MILLION ("PROPOSED DISPOSAL")
Contents: Reference is made to our announcement dated 8 November 2010 and Bursa Malaysia Berhad's letter dated 10 November 2010 in relation to the Proposed Disposal. The Company wishes to provide the following additional information:-
1. The manner in which the consideration will be satisfied including the terms of any arrangement for payment on a deferred basis.
The consideration will be fully satisfied in cash. Payment will be made upon transfer in accordance with the rules of Bursa Malaysia Depository Sdn Bhd and projected by end of 2010.
2. The timeframe for full utilisation of proceeds.
The proceeds are expected to be fully utilised by first quarter of 2011.
3. Details of the purchaser.
LTAW is established under the State of Terengganu Enactment No. 2/1990, as amended by the Enactment No. 1/1996 and having its address at Pejabat Perbendaharaan Negeri, Tingkat 4, Wisma Darul Iman, 20592 Kuala Terengganu, Terengganu Darul Iman.
4. Particulars of all liabilities to be assumed by the purchaser arising from the Proposed Disposal.
There are no liabilities to be assumed by LTAW arising from the Proposed Disposal.
5. The original costs of investment and the date of such investment.
Please refer to Table A.
6. Salient features of the Share Sale Agreement ("SSA").
The salient terms of the conditional SSA in relation to the Proposed Disposal are as follow:
(i) AZRB agrees to sell the Sale Shares and LTAW agrees to purchase from AZRB, the Sale Shares at Disposal Consideration, free from any encumbrance and with all rights attached thereto with effect from the Completion Date and in accordance with and subject to the terms and conditions set out in the SSA;
(ii) The SSA is conditional upon the following conditions being fulfilled on or before the expiry of the Approval Period:
(a) if required, approval of the FIC is obtained;
(b) the approval of the shareholders of AZRB in a general meeting; and
(c) such other approvals (if any) as may be necessary from any relevant competent authority or agency.
(iii) Completion of the sale and purchase of the Sale Shares shall take place whereupon AZRB shall on the Completion Date receive the Disposal Consideration for all the Sale Shares to transact the sale of the Sale Shares to LTAW and LTAW shall cause to be transacted the purchase of the Sale Shares from AZRB at the Disposal Consideration in accordance with the rules of Bursa Malaysia Depository Sdn Bhd.
(iv) In the event that the disposal of the Sale Shares is not completed in accordance with the provisions of the SSA or AZRB is in default or breach of the SSA, without prejudice to other provisions of the SSA, LTAW is at liberty to elect either of the following remedies:
(a) to commence proceedings against the defaulting AZRB for specific performance; or
(b) to terminate the SSA forthwith by notice in writing to AZRB to that effect and thereafter the SSA shall become null and void without prejudice to the rights of LTAW against the defaulting AZRB or damages in respect of such breach and/or default.
(v) In the event that LTAW fails to punctually settle the Disposal Consideration or fails without cause to complete the purchase of the Sale Shares in accordance to with the provisions of the SSA or otherwise is in material breach of the SSA, the non-defaulting and aggrieved AZRB is at liberty to elect either of the following remedies:
(a) to commence proceedings against LTAW for specific performance; or
(b) to terminate the SSA forthwith by notice in writing to LTAW to that effect and thereafter the SSA shall become null and void without prejudice to the rights of AZRB for damages in respect of such breach and/or default.
7. Document available for inspection
The SSA is available for inspection at the registered office of AZRB, No. 6, Jalan Bangsar Utama 9, Bangsar Utama, 59000 Kuala Lumpur, between 9:00 am to 5:00 pm from Mondays to Fridays (except for public holidays) for a period 30 days from the date of this announcement.
8. Information prescribed under item 19(d), Part A, Appendix 10A of the Main Market Listing requirements:-
(d) where another corporation is acquired or disposed of, or where shares or other securities in another corporation are to be received as consideration for a disposal, the following information in respect of the other corporation in an appendix:
(i) the general nature of business conducted by the corporation and its subsidiaries including principal products manufactured or services rendered and principal markets for the products or services;
EPIC was incorporated in Malaysia on 17 January 1981 under the Companies Act, 1965 as a private limited company under the name of Corrugated Carton Products Sdn Bhd ("CCP") and its principal activity then was manufacturing of corrugated carton products. CCP was later converted into a public company on 21 March 1990 and was listed on Second Board of Bursa Securities on 8 November 1991.
In December 1994, CCP was involved in a reverse takeover exercise whereby Pangkalan Bekalan Kemaman Sdn Bhd, an asset owned by the Terengganu State Economic Development Corporation or otherwise known as Perbadanan Memajukan Iktisad Negeri Terengganu ("PMINT") was injected into CCP. After the injection of assets by PMINT, PMINT became the largest shareholder of CCP with its equity interest of 40% shareholding.
CCP's listing was later transferred to the Main Board on 11 August 1995 and subsequently changed its name to EPIC on 5 March 1996. Later in November 1998, EPIC divested its corrugated carton business and focused its principal activities in the provision of infrastructural facilities and services supporting the oil and gas industry for Peninsular Malaysia, port services and other services. EPIC Group also involved in other activities including the provision of total sludge management, pipe threading and ancillary services and information and communication technology services.
For information on the subsidiaries and associated companies of EPIC, please refer to Table 1.
(ii) the audited financial information (past 3 years or since incorporation, whichever is the later) and the latest interim results, if available, stating turnover, profit before tax and profit after tax and minority interest; and
For financial information of EPIC, please refer to Table 2.
(iii) where there is any material fluctuation in turnover or profits in any of the years, the explanation for the fluctuation.
FYE 31 December 2007
For the FYE 31 December 2007, the EPIC Group's revenue was RM175.74 million, a 56.5% increase over the RM112.26 million achieved in FYE 31 December 2006. PBT also increased from RM18.48 million to RM47.63 million and a corresponding increase in the PAT to RM34.97 million from RM8.72 million. The EPIC Group's main revenue generator continues to come from the Oil and Gas segment which contributed over 84.6% of the overall revenue for the EPIC Group (with Pangkalan Bekalan Kemaman Sdn. Bhd. contributing approximately 57.6% of total revenue).
FYE 31 December 2008
For the FYE 31 December 2008, the EPIC Group achieved a PBT of RM39.84 million on the back of revenue of RM244.79 million, a 39.3% increase over the RM175.74 million achieved in FYE 31 December 2007. However, PBT decreased from RM47.63 million to RM39.84 million together with a corresponding decrease in PAT from RM34.97 million to RM25.90 million. The EPIC Group's Oil and Gas Petrochemical sector was the largest revenue contributor by generating RM221.24 million in revenue which accounted for 90% of total revenue for that financial year.
FYE 31 December 2009
For the FYE 31 December 2009, the EPIC Group recorded a lower revenue of RM183.95 million, 25% lower as compared to RM244.79 million recorded in the FYE 31 December 2008. However, the EPIC Group recorded PBT of RM54.46 million, which was an increase of 37% from the previous financial year's PBT of RM39.84 million and PAT of RM48.94 million which was 88.8% higher than the previous financial year's PAT of RM25.9 million.
This announcement is dated 11 November 2010.
Query Letter content: We refer to your Company's announcement dated 8 November 2010 in respect of the
aforesaid Proposed Disposal.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
The manner in which the consideration will be satisfied including the terms of
any arrangement for payment on a deferred basis;
The timeframe for full utilization of proceeds and details of the purchaser;
Particulars of all liabilities to be assumed by the purchaser arising from the
Proposed Disposal;
The original cost of investment and the date of such investment;
Salient features of the agreement and the time and place where such documents
may be inspected; and
Information prescribed under item 19(d), Part A, Appendix 10A of the Main
Market Listing Requirements.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
KHOO KAY KWAN
Head, Issuers
Listing Division
Regulation
RSA
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Attachments: TABLE 1.docx
TABLE 2.docx
TABLE A.docx
Bursa- Query-Letter dated 10Nov2010.pdf
LOH&LOH - General Announcement
Announcement Type: General Announcement
Company Name: LOH & LOH CORPORATION BERHAD
Stock Name: LOH&LOH
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: LOH & LOH CORPORATION BERHAD ("LLCB")
- APPOINTMENT AS MEMBER OF THE NOMINATION COMMITTEE AND REMUNERATION COMMITTEE
Contents: We act for and on behalf of LLCB.
The Board of Directors of LLCB wishes to inform that Mr. Geh Choh Hun was appointed as a member of the Remuneration Committee and Nomination Committee to replace Mr. Tan Vern Tact with effect from 11 November 2010. Following the above appointments, the composition of the Remuneration Committee and Nomination Committee are as follows:-
Remuneration Committee
Kuah Hun Liang
(Chairman, Independent Non-Executive Director)
Yong Weng Fai
(Member, Independent Non-Executive Director)
Geh Choh Hun
(Member, Non-Independent Non-Executive Director)
Nomination Committee
Kuah Hun Liang
(Chairman, Independent Non-Executive Director)
Yong Weng Fai
(Member, Independent Non-Executive Director)
Geh Choh Hun
(Member, Non-Independent Non-Executive Director)
Company Name: LOH & LOH CORPORATION BERHAD
Stock Name: LOH&LOH
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: LOH & LOH CORPORATION BERHAD ("LLCB")
- APPOINTMENT AS MEMBER OF THE NOMINATION COMMITTEE AND REMUNERATION COMMITTEE
Contents: We act for and on behalf of LLCB.
The Board of Directors of LLCB wishes to inform that Mr. Geh Choh Hun was appointed as a member of the Remuneration Committee and Nomination Committee to replace Mr. Tan Vern Tact with effect from 11 November 2010. Following the above appointments, the composition of the Remuneration Committee and Nomination Committee are as follows:-
Remuneration Committee
Kuah Hun Liang
(Chairman, Independent Non-Executive Director)
Yong Weng Fai
(Member, Independent Non-Executive Director)
Geh Choh Hun
(Member, Non-Independent Non-Executive Director)
Nomination Committee
Kuah Hun Liang
(Chairman, Independent Non-Executive Director)
Yong Weng Fai
(Member, Independent Non-Executive Director)
Geh Choh Hun
(Member, Non-Independent Non-Executive Director)
LOH&LOH - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: LOH & LOH CORPORATION BERHAD
Stock Name: LOH&LOH
Date Announced: 11/11/2010
Announcement Detail:
Date of change: 11/11/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Non Independent & Non Executive
Name: Geh Choh Hun
Age: 31
Nationality: Malaysian
Qualifications: Bachelor of Laws & Bachelor of Commerce from University of Melbourne, Australia
Working experience and occupation: Mr. Geh has 8 years of experience in real estate and commercial business. He is currently the Chairman of Javace Sdn. Bhd., a substantial shareholder and immediate holding company of UBG Berhad.
Directorship of public companies (if any): 1.UBG Berhad
2.Putrajaya Perdana Berhad
3. UBG Enterprise Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Kuah Hun Liang - Independent Non-Executuve Director (Chairman)
Yong Weng Fai - Independent Non-Executive Director (member)
Geh Choh Hun - Non-Independent Non-Executive Director (member)
Company Name: LOH & LOH CORPORATION BERHAD
Stock Name: LOH&LOH
Date Announced: 11/11/2010
Announcement Detail:
Date of change: 11/11/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Non Independent & Non Executive
Name: Geh Choh Hun
Age: 31
Nationality: Malaysian
Qualifications: Bachelor of Laws & Bachelor of Commerce from University of Melbourne, Australia
Working experience and occupation: Mr. Geh has 8 years of experience in real estate and commercial business. He is currently the Chairman of Javace Sdn. Bhd., a substantial shareholder and immediate holding company of UBG Berhad.
Directorship of public companies (if any): 1.UBG Berhad
2.Putrajaya Perdana Berhad
3. UBG Enterprise Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Kuah Hun Liang - Independent Non-Executuve Director (Chairman)
Yong Weng Fai - Independent Non-Executive Director (member)
Geh Choh Hun - Non-Independent Non-Executive Director (member)
LOH&LOH - Change in Boardroom (Amended Announcement)
Announcement Type: Change in Boardroom
Company Name: LOH & LOH CORPORATION BERHAD
Stock Name: LOH&LOH
Date Announced: 11/11/2010
Announcement Detail:
Date of change: 11/11/2010
Type of change: Appointment
Designation: Director
Directorate: Non Independent & Non Executive
Name: GEH CHOH HUN
Age: 31
Nationality: Malaysian
Qualifications: Bachelor of Laws & Bachelor of Commerce from University of Melbourne, Australia
Working experience and occupation: Mr. Geh has 8 years of experience in real estate and commercial business. He is currently the Chairman of Javace Sdn. Bhd., a substantial shareholder and immediate holding company of UBG Berhad.
Directorship of public companies (if any): 1.UBG Berhad
2.Putrajaya Perdana Berhad
3. UBG Enterprise Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Company Name: LOH & LOH CORPORATION BERHAD
Stock Name: LOH&LOH
Date Announced: 11/11/2010
Announcement Detail:
Date of change: 11/11/2010
Type of change: Appointment
Designation: Director
Directorate: Non Independent & Non Executive
Name: GEH CHOH HUN
Age: 31
Nationality: Malaysian
Qualifications: Bachelor of Laws & Bachelor of Commerce from University of Melbourne, Australia
Working experience and occupation: Mr. Geh has 8 years of experience in real estate and commercial business. He is currently the Chairman of Javace Sdn. Bhd., a substantial shareholder and immediate holding company of UBG Berhad.
Directorship of public companies (if any): 1.UBG Berhad
2.Putrajaya Perdana Berhad
3. UBG Enterprise Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
GADANG - Completion of the acquisition of 70% equity interest in Camar Ajaib Sdn Bhd
Announcement Type: General Announcement
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: Completion of the acquisition of 70% equity interest in Camar Ajaib Sdn Bhd
Contents: Reference is made to the announcements dated 11 August 2009 and 21 September 2010 in relation to the proposed acquisition of 70% equity interest in Camar Ajaib Sdn Bhd ("CASB") by the Company's indirect wholly-owned subsidiary, Flora Masyhur Sdn Bhd.
Gadang Holdings Berhad is pleased to announce that the acquisition is completed on 11 November 2010. With the completion, CASB became an indirect 70% owned subsidiary of the Company.
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: Completion of the acquisition of 70% equity interest in Camar Ajaib Sdn Bhd
Contents: Reference is made to the announcements dated 11 August 2009 and 21 September 2010 in relation to the proposed acquisition of 70% equity interest in Camar Ajaib Sdn Bhd ("CASB") by the Company's indirect wholly-owned subsidiary, Flora Masyhur Sdn Bhd.
Gadang Holdings Berhad is pleased to announce that the acquisition is completed on 11 November 2010. With the completion, CASB became an indirect 70% owned subsidiary of the Company.
LINEAR - General Announcement
Announcement Type: General Announcement
Company Name: LINEAR CORPORATION BERHAD
Stock Name: LINEAR
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: LINEAR CORPORATION BERHAD ("Linear" or "Company")
NOTICE OF WINDING UP PETITION - RHB BANK BERHAD VS
LCI GLOBAL SDN. BHD. (FORMERLY KNOWN AS LINEAR
COOLING INDUSTRIES SDN. BHD.)
Contents: Notice of Winding-Up Petition served on LCI Global Sdn. Bhd. (formerly known as
Linear Cooling Industries Sdn. Bhd.) ("LCISB")
Company Name: LINEAR CORPORATION BERHAD
Stock Name: LINEAR
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: LINEAR CORPORATION BERHAD ("Linear" or "Company")
NOTICE OF WINDING UP PETITION - RHB BANK BERHAD VS
LCI GLOBAL SDN. BHD. (FORMERLY KNOWN AS LINEAR
COOLING INDUSTRIES SDN. BHD.)
Contents: Notice of Winding-Up Petition served on LCI Global Sdn. Bhd. (formerly known as
Linear Cooling Industries Sdn. Bhd.) ("LCISB")
LINEAR - General Announcement
Announcement Type: General Announcement
Company Name: LINEAR CORPORATION BERHAD
Stock Name: LINEAR
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: LINEAR CORPORATION BERHAD ("LInear" or "Company")
NOTICE OF WINDING UP PETITION - RHB BANK BERHAD VS
LINEAR CORPORATION BERHAD
Contents: Notice of Winding-Up Petition served on Linear Corporation Berhad
Company Name: LINEAR CORPORATION BERHAD
Stock Name: LINEAR
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: LINEAR CORPORATION BERHAD ("LInear" or "Company")
NOTICE OF WINDING UP PETITION - RHB BANK BERHAD VS
LINEAR CORPORATION BERHAD
Contents: Notice of Winding-Up Petition served on Linear Corporation Berhad
HWGB - General Announcement
Announcement Type: General Announcement
Company Name: HO WAH GENTING BERHAD
Stock Name: HWGB
Date Announced: 11/11/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NE-101110-44344
Subject: Proposed disposal of a property by Ho Wah Genting Kintron Sdn Bhd (Company No: 187449-H), a wholly-owned subsidiary of Ho Wah Genting Berhad ("the Proposed Disposal")
Contents: We refer to Bursa Malaysia Securities Berhad's letter dated 10 November 2010 pertaining to the Proposed Disposal. In this connection, the Board of Directors of Ho Wah Genting Berhad wishes to provide the following additional information:-
1. The tenure of the leasehold land is 99 years and expiring in 2040.
2. Total size of the land is approximately 10,310 square metres.
3. The property consists of a single storey factory cum office cum warehouse with the approximately total built up area of 8,451 square metres (sq.m.) (factory: 5,514 sq. m.; Office: 465 sq.m.; warehouse:2,436 sq.m.) The age of the buildings are approximately 28 years.
4. There was no recent valuation report carried out on the property. The disposal consideration of RM1,850,000.00 was arrived on a "willing-buyer and willing-seller" basis after taking into consideration, amongst others, the "as is where is basis" and in its present state and conditions of the property.
5. The audited net book value of the property as at 31 December 2009 is RM2million.
6. The Proposed Disposal is expected to result in a loss of RM150,000.00.
7. The Proposed Disposal, when completed, will not expect any material impact on the earnings and net asset of HWGB Group for the year ending 31 December 2010.
8. The gross proceeds receivable for the Proposed Disposal of RM1,850,000.00 is proposed to be utilised for settlement of the bank loan and any incidental cost incurred.
9. The original cost of investment was RM3,531,977 and the date of acquisition was on 16 November 1989.
10. The Proposed Disposal, when completed, will have no operational impact to the HWGB Group.
Query Letter content: We refer to your Company's announcement dated 9 November 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 :-
Terms of tenure of the leasehold land;
Total size of the land;
Brief description of the premise i.e. built up area and approximate age of the
building;
Whether any valuation was carried out on the land. If so, the name of the
independent registered valuer, date and method of valuation and quantification
of the market value;
Net book value based on the latest audited accounts;
Expected gain or loss arising from the Proposed Disposal and the financial
impact to your Group;
Proposed utilisation of the proceeds;
The original cost of investment and date of such investment; and
Whether the Proposed Disposal will have any operational impact to your Group.
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/NAE
c.c. General Manager & Head, Market Surveillance, Securities Commission (via
fax)
Company Name: HO WAH GENTING BERHAD
Stock Name: HWGB
Date Announced: 11/11/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NE-101110-44344
Subject: Proposed disposal of a property by Ho Wah Genting Kintron Sdn Bhd (Company No: 187449-H), a wholly-owned subsidiary of Ho Wah Genting Berhad ("the Proposed Disposal")
Contents: We refer to Bursa Malaysia Securities Berhad's letter dated 10 November 2010 pertaining to the Proposed Disposal. In this connection, the Board of Directors of Ho Wah Genting Berhad wishes to provide the following additional information:-
1. The tenure of the leasehold land is 99 years and expiring in 2040.
2. Total size of the land is approximately 10,310 square metres.
3. The property consists of a single storey factory cum office cum warehouse with the approximately total built up area of 8,451 square metres (sq.m.) (factory: 5,514 sq. m.; Office: 465 sq.m.; warehouse:2,436 sq.m.) The age of the buildings are approximately 28 years.
4. There was no recent valuation report carried out on the property. The disposal consideration of RM1,850,000.00 was arrived on a "willing-buyer and willing-seller" basis after taking into consideration, amongst others, the "as is where is basis" and in its present state and conditions of the property.
5. The audited net book value of the property as at 31 December 2009 is RM2million.
6. The Proposed Disposal is expected to result in a loss of RM150,000.00.
7. The Proposed Disposal, when completed, will not expect any material impact on the earnings and net asset of HWGB Group for the year ending 31 December 2010.
8. The gross proceeds receivable for the Proposed Disposal of RM1,850,000.00 is proposed to be utilised for settlement of the bank loan and any incidental cost incurred.
9. The original cost of investment was RM3,531,977 and the date of acquisition was on 16 November 1989.
10. The Proposed Disposal, when completed, will have no operational impact to the HWGB Group.
Query Letter content: We refer to your Company's announcement dated 9 November 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 :-
Terms of tenure of the leasehold land;
Total size of the land;
Brief description of the premise i.e. built up area and approximate age of the
building;
Whether any valuation was carried out on the land. If so, the name of the
independent registered valuer, date and method of valuation and quantification
of the market value;
Net book value based on the latest audited accounts;
Expected gain or loss arising from the Proposed Disposal and the financial
impact to your Group;
Proposed utilisation of the proceeds;
The original cost of investment and date of such investment; and
Whether the Proposed Disposal will have any operational impact to your Group.
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/NAE
c.c. General Manager & Head, Market Surveillance, Securities Commission (via
fax)
MAHJAYA - General Announcement
Announcement Type: General Announcement
Company Name: MAHAJAYA BERHAD
Stock Name: MAHJAYA
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: MAHAJAYA BERHAD ("MAHAJAYA" OR "COMPANY")
- DISPOSAL OF A PORTION OF TAMAN DAMAI UTAMA, KINRARA, PUCHONG FORMING 907 PARCELS OF LEASEHOLD LAND MEASURING IN AGGREGATE APPROXIMATELY 51.38 ACRES (NET) LOCATED IN THE MUKIM OF PETALING, DAERAH PETALING, SELANGOR DARUL EHSAN, BY MEDAN DAMAI SDN BHD, A WHOLLY OWNED SUBSIDIARY OF MAHAJAYA TO LEGEND GRAND DEVELOPMENT SDN BHD, A WHOLLY OWNED SUBSIDIARY OF MAH SING GROUP BERHAD FOR A TOTAL CASH CONSIDERATION OF RM178,396,136.15 ("Disposal")
Contents: Further to the subject announcement on 9 July 2010, the Board of Directors of Mahajaya wishes to announce that its wholly-owned subsidiary, Medan Damai Sdn Bhd had on 9 November 2010 obtained the approval from the Pejabat Tanah Dan Galian Selangor on the transfer of the subject land title to Legend Grand Development Sdn Bhd, a wholly owned subsidiary of Mah Sing Group Berhad and thus fulfilling part of the conditions precedent stipulated in the Disposal.
Company Name: MAHAJAYA BERHAD
Stock Name: MAHJAYA
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: MAHAJAYA BERHAD ("MAHAJAYA" OR "COMPANY")
- DISPOSAL OF A PORTION OF TAMAN DAMAI UTAMA, KINRARA, PUCHONG FORMING 907 PARCELS OF LEASEHOLD LAND MEASURING IN AGGREGATE APPROXIMATELY 51.38 ACRES (NET) LOCATED IN THE MUKIM OF PETALING, DAERAH PETALING, SELANGOR DARUL EHSAN, BY MEDAN DAMAI SDN BHD, A WHOLLY OWNED SUBSIDIARY OF MAHAJAYA TO LEGEND GRAND DEVELOPMENT SDN BHD, A WHOLLY OWNED SUBSIDIARY OF MAH SING GROUP BERHAD FOR A TOTAL CASH CONSIDERATION OF RM178,396,136.15 ("Disposal")
Contents: Further to the subject announcement on 9 July 2010, the Board of Directors of Mahajaya wishes to announce that its wholly-owned subsidiary, Medan Damai Sdn Bhd had on 9 November 2010 obtained the approval from the Pejabat Tanah Dan Galian Selangor on the transfer of the subject land title to Legend Grand Development Sdn Bhd, a wholly owned subsidiary of Mah Sing Group Berhad and thus fulfilling part of the conditions precedent stipulated in the Disposal.
MAXBIZ - General Announcement
Announcement Type: General Announcement
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- PRACTICE NOTE 17 ("PN17") AND SOLVENCY DECLARATION DATED 6 APRIL 2010
Contents: Further to MAXBIZ's announcement made on 4 November 2010, the Board of Directors of MAXBIZ wishes to announce that MAXBIZ has on 11 November 2010 received a letter from Bursa Malaysia Securities Berhad ("Bursa Securities") directing MAXBIZ to:
1. appoint its statutory auditors namely Messrs. Gomez & Co. to perform a special purpose audit in accordance with the approved auditing standard so as to give a true and fair view of the financial position of the Group and of the Company based on its latest financial position;
2. address if MAXBIZ has triggered any of the PN17 criteria; and
3) appoint Messrs. Gomez & Co. within three (3) market days from the date of the aforesaid letter to perform the above assessment and to complete the assessment within three (3) weeks from the date of the appointment.
Bursa Securities further requires Messrs. Gomez & Co. to response its assessment directly to Bursa Securities.
This announcement is dated 11 November 2010.
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 11/11/2010
Announcement Detail:
Type: Announcement
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- PRACTICE NOTE 17 ("PN17") AND SOLVENCY DECLARATION DATED 6 APRIL 2010
Contents: Further to MAXBIZ's announcement made on 4 November 2010, the Board of Directors of MAXBIZ wishes to announce that MAXBIZ has on 11 November 2010 received a letter from Bursa Malaysia Securities Berhad ("Bursa Securities") directing MAXBIZ to:
1. appoint its statutory auditors namely Messrs. Gomez & Co. to perform a special purpose audit in accordance with the approved auditing standard so as to give a true and fair view of the financial position of the Group and of the Company based on its latest financial position;
2. address if MAXBIZ has triggered any of the PN17 criteria; and
3) appoint Messrs. Gomez & Co. within three (3) market days from the date of the aforesaid letter to perform the above assessment and to complete the assessment within three (3) weeks from the date of the appointment.
Bursa Securities further requires Messrs. Gomez & Co. to response its assessment directly to Bursa Securities.
This announcement is dated 11 November 2010.
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