December 14, 2010

Company announcements: DELLOYD, KASSETS, LATITUD, EUROSP, ASTINO, KNM, KEINHIN, VASTALX, SUNCRN, MILUX

DELLOYD - Notice of Shares Buy Back - Immediate Announcement

Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: DELLOYD VENTURES BERHAD
Stock Name: DELLOYD
Date Announced: 14/12/2010

Announcement Detail:
Date of buy back: 14/12/2010

Description of shares purchased: Ordinary shares of RM1.00 each

Currency: Malaysian Ringgit (MYR)

Total number of shares purchased (units): 20,500

Minimum price paid for each share purchased ($$): 3.180

Maximum price paid for each share purchased ($$): 3.210

Total consideration paid ($$): 66,018.85

Number of shares purchased retained in treasury (units): 20,500

Cumulative net outstanding treasury shares as at to-date (units): 2,342,100

Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 2.51

Remarks: Our ref:SBB/CS/12-10/346


KASSETS - KASSETS-EXERCISE OF 83,315,195 WARRANTS 2006/2011 ("EXERCISE")

Announcement Type: Listing Circular
Company Name: KRISASSETS HOLDINGS BERHAD
Stock Name: KASSETS
Date Announced: 14/12/2010

Announcement Detail:
Subject: KASSETS-EXERCISE OF 83,315,195 WARRANTS 2006/2011 ("EXERCISE")

Contents: Kindly be advised that the abovementioned Company's additional 83,315,195 new ordinary shares of RM1.00 each arising from the aforesaid Exercise will be granted listing and quotation with effect from 9.00 a.m., Thursday, 16 December 2010.


LATITUD - General Announcement

Announcement Type: General Announcement
Company Name: LATITUDE TREE HOLDINGS BERHAD
Stock Name: LATITUD
Date Announced: 14/12/2010

Announcement Detail:
Type: Announcement

Subject: LATITUDE TREE HOLDINGS BERHAD ("LTHB" OR "THE COMPANY")
- SUBSCRIPTION FOR AN ADDITIONAL 1,427,400 NEW ORDINARY SHARES OF VND10,000 EACH IN LATITUDE TREE VIETNAM JOINT STOCK COMPANY ("LTV") BY LATITUDE TREE INTERNATIONAL GROUP LTD ("LTIG"), LATITUDE TREE INTERNATIONAL LTD ("LTI") AND LINKAGE CREATION INTERNATIONAL CO LTD ("LCI") BY CAPITALISATION OF NON-TRADE DEBT AMOUNT OF VND14,274,000,000 (EQUIVALENT TO RM2,290,794.00)

Contents: The Board of Directors of LTHB wishes to announce that LTIG, a subsidiary of the Company, LTI and LCI, both wholly-owned subsidiaries of LTIG, had on 14 December 2010, proceeded to subscribe for an additional 1,427,400 new ordinary shares of VND10,000 each in LTV by way of capitalisation of non-trade debts owing by LTV to LTIG, LTI and LCI amounted to VND14,274,000,000 (the "Subscription").

Further details of the Subscription are attached below.

This announcement is dated 14 December 2010.

Attachments: LTHB Announcement-LTVN Allotment of shares(Final).pdf


EUROSP - NOTIFICATION OF DEALINGS BY DIRECTOR OF SUBSIDIARY COMPANIES IN THE SHARES OF HOLDING COMPANY

Announcement Type: General Announcement
Company Name: EUROSPAN HOLDINGS BERHAD
Stock Name: EUROSP
Date Announced: 14/12/2010

Announcement Detail:
Type: Announcement

Subject: NOTIFICATION OF DEALINGS BY DIRECTOR OF SUBSIDIARY COMPANIES IN THE SHARES OF HOLDING COMPANY

Contents: Pursuant to paragraph 14.09 of the Listing Requirements of Bursa Malaysia Securities Berhad, Eurospan Holdings Berhad ("the Company") hereby notifies Bursa Malaysia Securities Berhad of the following dealings by a Director of subsidiary companies in the shares of the Company received by the Company.


ASTINO - Notice of Shares Buy Back - Immediate Announcement

Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: ASTINO BERHAD
Stock Name: ASTINO
Date Announced: 14/12/2010

Announcement Detail:
Date of buy back: 14/12/2010

Description of shares purchased: Ordinary shares of RM0.50 each

Currency: Malaysian Ringgit (MYR)

Total number of shares purchased (units): 56,500

Minimum price paid for each share purchased ($$): 0.625

Maximum price paid for each share purchased ($$): 0.630

Total consideration paid ($$): 35,545.00

Number of shares purchased retained in treasury (units): 56,500

Number of shares purchased which are proposed to be cancelled (units): 0

Cumulative net outstanding treasury shares as at to-date (units): 4,068,604

Adjusted issued capital after cancellation (no. of shares) (units): 0

Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 2.97


KNM - - JOINT VENTURE AGREEMENT WITH PETROSAB LOGISTIK SDN BHD - INVESTMENT IN COMPANIES IN SABAH

Announcement Type: General Announcement
Company Name: KNM GROUP BERHAD
Stock Name: KNM
Date Announced: 14/12/2010

Announcement Detail:
Type: Announcement

Subject: - JOINT VENTURE AGREEMENT WITH PETROSAB LOGISTIK SDN BHD
- INVESTMENT IN COMPANIES IN SABAH

Contents: 1. INTRODUCTION

KNM Group Berhad ("KNM" or "the Company") is pleased to inform that:

(i) KNM had on 13 December 2010 entered into a joint venture agreement with Petrosab Logistik Sdn Bhd ("PETROSAB") ("JVA") towards inter alia:

(a) the establishment of a joint venture company to be known as KNM Petrosab Sdn Bhd ("KNMP") to act as an investment holding company on 51% (KNM) : 49% (PETROSAB) basis, whereby KNM and PETROSAB shall invest in 51,000 and 49,000 ordinary share of RM1.00 each respectively in KNMP ("Shareholding Structure");

(b) KNMP in turn, shall form Project Companies to target oil and gas projects in Sabah;

(ii) KNM and PETROSAB had respectively on 13 December 2010 invested in one (1) ordinary share of RM1.00 in KNMP ("Investment 1"); and

(iii) KNMP had on 13 December 2010, invested in two (2) ordinary shares of RM1.00 each in KNM Petrosab Engineering Sdn Bhd ("KNMPE") as one of the Project Companies ("Investment 2"),

(hereinafter Investment 1 and Investment 2 are collectively referred to as "Investments").


2. INFORMATION ON PETROSAB, KNMP AND KNMPE

PETROSAB was incorporated in Malaysia on 14 August 2004 and officially launched by YAB Datuk Seri Chief Minister of Sabah in February 2005, and having its registered address at Level 13, Wisma Innoprise, Teluk Likas, 88400 Kota Kinabalu, Sabah, Malaysia. It is a joint venture subsidiary company between Yayasan Sabah Group and Asian Supply Base Sdn Bhd to engage with business of providing oil and gas services to oil majors and contractors in East Malaysia.

KNMP was incorporated on 20 October 2010 as a private limited company under the laws of Malaysia and having its registered address at Level 19, Menara Tun Mustapha, Yayasan Sabah Headquarters Complex, Likas Bay, 88400 Kota Kinabalu, Sabah, Malaysia. Its initial authorised share capital is currently RM100,000 comprising 100,000 ordinary shares of RM1.00 each and its paid-up share capital is RM2.00. It is currently dormant but will principally be an investment holding company. Upon completion, KNMP will be a 51% subsidiary company of KNM while the remaining 49% is owned by PETROSAB.

KNMPE was incorporated on 20 October 2010 as a private limited company under the laws of Malaysia and having its registered address at Level 19, Menara Tun Mustapha, Yayasan Sabah Headquarters Complex, Likas Bay, 88400 Kota Kinabalu, Sabah, Malaysia. Its initial authorised share capital is currently RM100,000 comprising 100,000 ordinary shares of RM1.00 each and its paid-up share capital is RM2.00. It is currently dormant but will principally be involved, inter alia, in the provision of engineering, manufacturing of process equipment, construction, piping, and other services related to the oil, gas and power industry in Sabah and throughout Malaysia. KNMPE is a wholly-owned subsidiary of KNMP.


3. DETAILS OF THE INVESTMENT

KNMP and KNMPE are currently dormant. KNM's total initial investment outlay in KNMP and/or KNMPE will be RM51,000. The shares are subscribed at par value of RM1.00 each and the Investments shall be fully settled in cash through internally generated funds.


4. SALIENT TERMS OF THE JVA

(i) KNM and PETROSAB ("Parties") wish to complement each other by combining each Party's respective skills and expertise to establish a joint venture company in Malaysia to act as an investment holding company in special purpose companies ("Project Companies") to be incorporated for the purpose carrying out the various oil and gas projects in Sabah ("Designated Projects").

(ii) The Parties have agreed to cause KNMP to invest in Project Companies which shall carry out the Designated Projects exclusively. KNM will lead fund raising for the Designated Projects and optimize capitalization for the Project Companies throughout the development and/or operation stage of the Designated Projects, either via issuance of new equity, bond, financial derivatives and/or convertible instruments to third party if necessary.

(iii) The total capital and investment outlay, number and timing for the incorporation, of the Project Companies shall be determined by the Parties depending on the successful award, scope and size of the Designated Projects.

(iv) The joint venture is conditional upon satisfaction of the following conditions which have been met:

(a) the establishment of KNMP; and
(b) KNMP obtaining any required approval for the Shareholding Structure.

(v) The issued and paid-up share capital of KNMP shall be held by the Parties in the proportions set out in the Shareholding Structure, unless among others:

(a) varied to comply with any law, regulation, directive or policy of any Government or other relevant authority; or
(b) varied in such manner as may be mutually agreed in writing between the Parties.


5. RATIONALE FOR THE INVESTMENTS

The Investments are generally aimed to tap into various existing and future capital expenditure for oil, gas and petrochemical projects in Sabah which is in line with KNM's overall objective of expanding and growing the businesses of KNM and its group of companies ("KNM Group") throughout Malaysia.


6. FINANCIAL EFFECTS OF THE INVESTMENTS

6.1 Share Capital
The Investments do not affect the share capital of KNM.

6.2 Earnings
The Investments are not expected to have any material effect on the consolidated earnings of KNM for the financial year ending 31 December 2010.

6.3 Substantial Shareholders' Shareholdings
The Investments do not affect the substantial shareholders' shareholdings in KNM.

6.4 Net Assets and Gearing
The Investments are not expected to have any material effect on the consolidated net assets and gearing of KNM and/or KNM Group for the year ending 31 December 2010.


7. RISK FACTORS

The Investments are subject to certain risks mainly in the oil and gas, petrochemical and energy industries. These include changes in general economic conditions such as but not limited to inflation, taxation, interest rates, labour and material supply; changes in business and operating conditions such as but not limited to government/state government and statutory regulations; and deterioration in prevailing market conditions.

The Investments do not alter the risk profile of KNM as KNM Group is already operating in these industries and hence will continue to be exposed to risk factors that they currently face whilst operating in these industries.

Although KNM Group with its vast experience may undertake efforts to mitigate the various risks, there is no assurance that any change in the above factors will not have a material adverse effect on the business and operations of KNM and/or KNM Group.


8. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors, major shareholders, persons connected to the Directors or major shareholders of the Company has any interest, direct or indirect, in the Investments.


9. DIRECTORS' STATEMENT

Having considered all aspects of the Investments, the Board of Directors is of the opinion that the Investments are in the best interest of the Company.


10. CONDITION OF THE INVESTMENTS

The Investments are not subject to the approvals of any governmental authority and the shareholders of KNM.


11. DOCUMENTS FOR INSPECTION

Details of JVA are available for inspection at the registered office of KNM at 15 Jalan Dagang SB 4/1, Taman Sungai Besi Indah, 43300 Seri Kembangan, Selangor Darul Ehsan, Malaysia for three (3) months from date of this Announcement during normal business hours from Mondays to Fridays.


12. HIGHEST PERCENTAGE RATIO

The highest percentage ratio pursuant to paragraph 10.02(g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad applicable to the Investment 1 and Investment 2 is 0.003% and 0.0000001% respectively.


KEINHIN - Quarterly rpt on consolidated results for the financial period ended 31/10/2010

Announcement Type: Financial Results
Company Name: KEIN HING INTERNATIONAL BERHAD
Stock Name: KEINHIN
Date Announced: 14/12/2010

Announcement Detail:
Financial Year End: 30/04/2011

Quarter: 2

Quarterly report for the financial period ended: 31/10/2010

The figures: have not been audited

Currency: Malaysian Ringgit (MYR)


VASTALX - General Announcement

Announcement Type: General Announcement
Company Name: VASTALUX ENERGY BERHAD
Stock Name: VASTALX
Date Announced: 14/12/2010

Announcement Detail:
Type: Reply to query

Reply to Bursa Malaysia's Query Letter - Reference ID: NM-101213-58430

Subject: Kuala Lumpur High Court Civil No.:22NCC-139-2010
TA First Credit Sdn. Bhd. vs Vastalux Energy Berhad ("VEB")("Suit")

Contents: Reference is made to Bursa Malaysia Securities Berhad's query letter dated 13 December 2010 (Ref: NM-101213-58430)

Query Letter content: We refer to your Company's announcement dated 10 December 2010 in respect of
the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-

The date on which the Suit was served on VEB; and
2. The financial impact of the Suit on the VEB group.

Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.

Yours faithfully


SUZALINA HARUN
Head,Issuers
Listing Division
Regulation

NMA
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)


SUNCRN - Notice of Shares Buy Back - Immediate Announcement

Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: SUNCHIRIN INDUSTRIES (MALAYSIA) BERHAD
Stock Name: SUNCRN
Date Announced: 14/12/2010

Announcement Detail:
Date of buy back: 14/12/2010

Description of shares purchased: Ordinary shares of RM1.00 each

Currency: Malaysian Ringgit (MYR)

Total number of shares purchased (units): 37,000

Minimum price paid for each share purchased ($$): 1.800

Maximum price paid for each share purchased ($$): 1.850

Total consideration paid ($$): 68,275.02

Number of shares purchased retained in treasury (units): 37,000

Number of shares purchased which are proposed to be cancelled (units): 0

Cumulative net outstanding treasury shares as at to-date (units): 1,752,700

Adjusted issued capital after cancellation (no. of shares) (units): 0

Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 4.28


MILUX - General Announcement

Announcement Type: General Announcement
Company Name: MILUX CORPORATION BERHAD
Stock Name: MILUX
Date Announced: 14/12/2010

Announcement Detail:
Type: Announcement

Subject: MILUX CORPORATION BERHAD

PROPOSED DISPOSAL OF ALL THAT PIECE OF LAND HELD UNDER H.S. (D) 242968, NO. P.T. 10565, PEKAN BARU SUNGAI BULOH, DAERAH PETALING, NEGERI SELANGOR DARUL EHSAN TOGETHER WITH A 2-STOREY DETACHED FACTORY CUM OFFICE ERECTED THEREON BY T.H. HIN SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF MILUX FOR RM11,000,000

Contents: MILUX CORPORATION BERHAD ("MILUX" or the "COMPANY")

PROPOSED DISPOSAL OF ALL THAT PIECE OF LAND HELD UNDER H.S. (D) 242968, NO. P.T. 10565, PEKAN BARU SUNGAI BULOH, DAERAH PETALING, NEGERI SELANGOR DARUL EHSAN TOGETHER WITH A 2-STOREY DETACHED FACTORY CUM OFFICE ERECTED THEREON BY T.H. HIN SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF MILUX FOR RM11,000,000

Attachments: Ann-disposal-kota damansara-property.doc



No comments:

Post a Comment