PROTON - ARTICLE ENTITLED: PROTON'S EXPENSIVE TASTE DOES NOT FAVOUR ITS FINANCES
Announcement Type: General Announcement
Company Name: PROTON HOLDINGS BERHAD
Stock Name: PROTON
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: ARTICLE ENTITLED: PROTON'S EXPENSIVE TASTE DOES NOT FAVOUR ITS FINANCES
Contents: We refer to the Article Entitled: "Proton's expensive taste does not favour its finances" appearing on Page 8 of the Edge Malaysia for the week of 13 December 2010 to 19 December 2010.
The Board of Directors of PROTON Holdings Berhad ("PROTON" or "the Company") confirms that the Company's wholly owned subsidiary, Group Lotus plc ("Lotus") has entered into an agreement with Renault F1 Team Limited (Lotus and Renault F1 Team Limited hereinafter referred to as "the parties") in relation to the title sponsorship of the Renault F1 Team ("RF1"), to be renamed "Lotus Renault GP", that will participate in the Formula One ("F1") World Racing Championship season beginning 2011 onwards.
However, we would like to highlight various inaccuracies as reported in the said article in particular the following paragraphs which are reproduced below:
1. "The sports car maker's transformation will cost it ?770 million (RM3.81 billion) over 10 years, and turn it into a serious player"
2. "But doesn't the move by its subsidiary to buy a majority stake in an F1 racing team warrant an announcement?"
3. "As for Proton, will it be able to sell its cars globally just with Lotus' entry into F1 if its products are not improved in terms of design, quality and technology?
And if it spends big bucks on Lotus and F1, will it have sufficient resources to improve its models sold in the local market?"
4. "Ultimately whether or not Lotus is successful in F1 or its revamp, Proton's shareholders, and the Malaysian car buyer, are footing the bill"
Kindly be informed that the said sponsorship is potentially for a period of seven (7) years. However, Lotus will initially be paying a sponsorship fee, which is part of its approved GBP15-20 million per year marketing budget, to be spread over a period of 4 years, in its ordinary course of business as part of Lotus' branding and marketing plan. This budgeted marketing spend forms part of the five (5) year business turnaround plan approved by the respective Boards of PROTON and Lotus. Lotus will further endeavor to reduce the said amount as a result of the flexibility of the terms of the agreement between the parties. There is no additional outlay from PROTON to Lotus to finance the deal.
The sponsorship will then come with the privilege of an equity participation at a nominal value. Equity will allow Lotus to maximise and exploit its marketing and branding to its full potential. The equity deal will also allow Lotus an opportunity to manage further financial exposure by having a say in the way the team is managed.
As evidenced by PROTON's improving product line-up, sales and market share, PROTON has and will continue to strengthen the design, quality and technology of its cars. Lotus' entry into F1 is not undertaken to the exclusion of fundamental business activities of either PROTON or Lotus. As stated, Lotus' participation into F1 is part of Lotus' business turnaround plan which has already been budgeted for. The question of reducing PROTON's investment in strengthening the PROTON cars business therefore does not arise.
Total forecast capital expenditure for the Lotus business turnaround plan is approximately GBP480 million which will be secured via internally generated and externally secured funding during the turnaround period. This is expected to deliver substantial returns on investment as deliberated and approved by the respective Boards.
RF1 is an established, successful F1 team whose operations are based in the United Kingdom. The Team's current drivers are Robert Kubica and Vitaly Petrov and the Team is headed by Eric Boulier. It achieved 5th. place in the F1 constructors standing in 2010.
Renault F1 Team Limited is a private company incorporated and registered in England and Wales. It is principally owned by Gravity Racing International SA which in turn is wholly owned by Genii Capital SA ("Genii Capital"), a company incorporated in Luxembourg and has offices in North America, Eastern Europe and Asia. It has a number of notable clients including Skype.
Genii Capital is part of a larger group of companies which are owned, operated and administered by entrepreneur and real estate expert, Eric Lux and entrepreneur, business developer and technologist, Gerard Lopez. Genii Capital holds key expertise and competency in numerous fields including brand management and development, racing and driver management, hospitality and automotive technologies.
Lotus is a company incorporated and registered in England and Wales in June 1958. Lotus manufactures high performance sports cars and provides high technology engineering services to global OEMs. It was founded by Colin Chapman as a motorsports and racing company. Through constant innovations in technology, Lotus became associated with one of the most admired and successful racing teams in history, winning seven world constructors titles and six driver championships in F1.
The partnership between Lotus and Genii Capital paves the way to quickly incorporate new technologies from F1 cars into Lotus road cars including hybrid technology, Kinetic Energy Recovery Systems (KERS), aero advancements and lightweight materials. Genii Capital, with a portfolio of automotive technologies, also brings non-F1 technologies such as lightweight braking systems, variable compression engine technology and on board software systems to the partnership.
In addition, Genii Capital is also offering PROTON the ability to leverage on its existing business relationships in Russia and other parts of the world as a means to expand PROTON's global reach. Through Genii Capital, PROTON can also potentially access advanced automotive technologies by virtue of Genii Capital's association with Mangrove, a venture capital group.
For Lotus, access to F1 opens up new marketing opportunities and a major platform for business exchanges and development. Genii Capital possesses shareholdings in and direct access to cutting edge companies in the automotive industry.
The above partnership will not have any effect on the share capital and substantial shareholdings of the Company nor will it have any effect on the earnings per share, net assets per share and gearing of the Company for the Financial Year ending 31 March 2011.
None of the Directors or Major Shareholders or persons connected to the Directors and/or Major Shareholders have any interest direct or indirect in the above partnership.
The sponsorship agreement is not subject to the approvals of the shareholders or regulatory authority (ies).
The Board of Directors is of the view that the partnership heralds the return of a highly successful F1 association between Lotus and Renault going back to the 1980s and results in an equal partnership between Lotus and Genii Capital and signifies the beginning of a more comprehensive strategic alliance between two organizations and as such is in the best interest of the PROTON Group".
Company Name: PROTON HOLDINGS BERHAD
Stock Name: PROTON
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: ARTICLE ENTITLED: PROTON'S EXPENSIVE TASTE DOES NOT FAVOUR ITS FINANCES
Contents: We refer to the Article Entitled: "Proton's expensive taste does not favour its finances" appearing on Page 8 of the Edge Malaysia for the week of 13 December 2010 to 19 December 2010.
The Board of Directors of PROTON Holdings Berhad ("PROTON" or "the Company") confirms that the Company's wholly owned subsidiary, Group Lotus plc ("Lotus") has entered into an agreement with Renault F1 Team Limited (Lotus and Renault F1 Team Limited hereinafter referred to as "the parties") in relation to the title sponsorship of the Renault F1 Team ("RF1"), to be renamed "Lotus Renault GP", that will participate in the Formula One ("F1") World Racing Championship season beginning 2011 onwards.
However, we would like to highlight various inaccuracies as reported in the said article in particular the following paragraphs which are reproduced below:
1. "The sports car maker's transformation will cost it ?770 million (RM3.81 billion) over 10 years, and turn it into a serious player"
2. "But doesn't the move by its subsidiary to buy a majority stake in an F1 racing team warrant an announcement?"
3. "As for Proton, will it be able to sell its cars globally just with Lotus' entry into F1 if its products are not improved in terms of design, quality and technology?
And if it spends big bucks on Lotus and F1, will it have sufficient resources to improve its models sold in the local market?"
4. "Ultimately whether or not Lotus is successful in F1 or its revamp, Proton's shareholders, and the Malaysian car buyer, are footing the bill"
Kindly be informed that the said sponsorship is potentially for a period of seven (7) years. However, Lotus will initially be paying a sponsorship fee, which is part of its approved GBP15-20 million per year marketing budget, to be spread over a period of 4 years, in its ordinary course of business as part of Lotus' branding and marketing plan. This budgeted marketing spend forms part of the five (5) year business turnaround plan approved by the respective Boards of PROTON and Lotus. Lotus will further endeavor to reduce the said amount as a result of the flexibility of the terms of the agreement between the parties. There is no additional outlay from PROTON to Lotus to finance the deal.
The sponsorship will then come with the privilege of an equity participation at a nominal value. Equity will allow Lotus to maximise and exploit its marketing and branding to its full potential. The equity deal will also allow Lotus an opportunity to manage further financial exposure by having a say in the way the team is managed.
As evidenced by PROTON's improving product line-up, sales and market share, PROTON has and will continue to strengthen the design, quality and technology of its cars. Lotus' entry into F1 is not undertaken to the exclusion of fundamental business activities of either PROTON or Lotus. As stated, Lotus' participation into F1 is part of Lotus' business turnaround plan which has already been budgeted for. The question of reducing PROTON's investment in strengthening the PROTON cars business therefore does not arise.
Total forecast capital expenditure for the Lotus business turnaround plan is approximately GBP480 million which will be secured via internally generated and externally secured funding during the turnaround period. This is expected to deliver substantial returns on investment as deliberated and approved by the respective Boards.
RF1 is an established, successful F1 team whose operations are based in the United Kingdom. The Team's current drivers are Robert Kubica and Vitaly Petrov and the Team is headed by Eric Boulier. It achieved 5th. place in the F1 constructors standing in 2010.
Renault F1 Team Limited is a private company incorporated and registered in England and Wales. It is principally owned by Gravity Racing International SA which in turn is wholly owned by Genii Capital SA ("Genii Capital"), a company incorporated in Luxembourg and has offices in North America, Eastern Europe and Asia. It has a number of notable clients including Skype.
Genii Capital is part of a larger group of companies which are owned, operated and administered by entrepreneur and real estate expert, Eric Lux and entrepreneur, business developer and technologist, Gerard Lopez. Genii Capital holds key expertise and competency in numerous fields including brand management and development, racing and driver management, hospitality and automotive technologies.
Lotus is a company incorporated and registered in England and Wales in June 1958. Lotus manufactures high performance sports cars and provides high technology engineering services to global OEMs. It was founded by Colin Chapman as a motorsports and racing company. Through constant innovations in technology, Lotus became associated with one of the most admired and successful racing teams in history, winning seven world constructors titles and six driver championships in F1.
The partnership between Lotus and Genii Capital paves the way to quickly incorporate new technologies from F1 cars into Lotus road cars including hybrid technology, Kinetic Energy Recovery Systems (KERS), aero advancements and lightweight materials. Genii Capital, with a portfolio of automotive technologies, also brings non-F1 technologies such as lightweight braking systems, variable compression engine technology and on board software systems to the partnership.
In addition, Genii Capital is also offering PROTON the ability to leverage on its existing business relationships in Russia and other parts of the world as a means to expand PROTON's global reach. Through Genii Capital, PROTON can also potentially access advanced automotive technologies by virtue of Genii Capital's association with Mangrove, a venture capital group.
For Lotus, access to F1 opens up new marketing opportunities and a major platform for business exchanges and development. Genii Capital possesses shareholdings in and direct access to cutting edge companies in the automotive industry.
The above partnership will not have any effect on the share capital and substantial shareholdings of the Company nor will it have any effect on the earnings per share, net assets per share and gearing of the Company for the Financial Year ending 31 March 2011.
None of the Directors or Major Shareholders or persons connected to the Directors and/or Major Shareholders have any interest direct or indirect in the above partnership.
The sponsorship agreement is not subject to the approvals of the shareholders or regulatory authority (ies).
The Board of Directors is of the view that the partnership heralds the return of a highly successful F1 association between Lotus and Renault going back to the 1980s and results in an equal partnership between Lotus and Genii Capital and signifies the beginning of a more comprehensive strategic alliance between two organizations and as such is in the best interest of the PROTON Group".
TENAGA - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: KENANGA INVESTMENT BANK BERHAD
Company Name: TENAGA NASIONAL BHD
Stock Name: TENAGA
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: EXPIRY OF EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS OVER THE ORDINARY SHARES OF TENAGA NASIONAL BERHAD ("TENAGA") ("TENAGA-CO")
Contents: We wish to announce that the TENAGA-CO expired at 9.00 a.m. on 10 December 2010 ("Expiry Date") and the cash settlement amount shall be calculated as set out below.
Submitting Merchant Bank: KENANGA INVESTMENT BANK BERHAD
Company Name: TENAGA NASIONAL BHD
Stock Name: TENAGA
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: EXPIRY OF EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS OVER THE ORDINARY SHARES OF TENAGA NASIONAL BERHAD ("TENAGA") ("TENAGA-CO")
Contents: We wish to announce that the TENAGA-CO expired at 9.00 a.m. on 10 December 2010 ("Expiry Date") and the cash settlement amount shall be calculated as set out below.
GAMUDA - Dealing by Director in the Securities of the Company During Closed Period
Announcement Type: General Announcement
Company Name: GAMUDA BERHAD
Stock Name: GAMUDA
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: Dealing by Director in the Securities of the Company During Closed Period
Contents: The following Director has given notice of her dealing in the securities of the Company during the closed period as follows:-
Company Name: GAMUDA BERHAD
Stock Name: GAMUDA
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: Dealing by Director in the Securities of the Company During Closed Period
Contents: The following Director has given notice of her dealing in the securities of the Company during the closed period as follows:-
KPJ - KPJ-Exercise of 771,625 Warrants 2010/2015 ("Exercise of Warrants")
Announcement Type: Listing Circular
Company Name: KPJ HEALTHCARE BERHAD
Stock Name: KPJ
Date Announced: 13/12/2010
Announcement Detail:
Subject: KPJ-Exercise of 771,625 Warrants 2010/2015 ("Exercise of Warrants")
Contents: Kindly be advised that the abovementioned Company's additional 771,625 new ordinary shares of RM0.50 each arising from the aforesaid Exercise of Warrants will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 15 December 2010.
Company Name: KPJ HEALTHCARE BERHAD
Stock Name: KPJ
Date Announced: 13/12/2010
Announcement Detail:
Subject: KPJ-Exercise of 771,625 Warrants 2010/2015 ("Exercise of Warrants")
Contents: Kindly be advised that the abovementioned Company's additional 771,625 new ordinary shares of RM0.50 each arising from the aforesaid Exercise of Warrants will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 15 December 2010.
TEKALA - Notice of Shares Buy Back by a Company pursuant to Form 28A
Announcement Type: Notice of Shares Buy Back by a Company Pursuant to Form 28A
Company Name: TEKALA CORPORATION BERHAD
Stock Name: TEKALA
Date Announced: 13/12/2010
Announcement Detail:
Date of buy back from: 06/12/2010
Date of buy back to: 10/12/2010
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 67,000
Minimum price paid for each share purchased ($$): 0.730
Maximum price paid for each share purchased ($$): 0.740
Total amount paid for shares purchased ($$): 49,445.00
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 67,000
Total number of shares retained in treasury (units): 11,702,900
Number of shares purchased which were cancelled (units): 0
Date lodged with registrar of companies: 13/12/2010
Lodged by: Tekala Corporation Berhad
Company Name: TEKALA CORPORATION BERHAD
Stock Name: TEKALA
Date Announced: 13/12/2010
Announcement Detail:
Date of buy back from: 06/12/2010
Date of buy back to: 10/12/2010
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 67,000
Minimum price paid for each share purchased ($$): 0.730
Maximum price paid for each share purchased ($$): 0.740
Total amount paid for shares purchased ($$): 49,445.00
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 67,000
Total number of shares retained in treasury (units): 11,702,900
Number of shares purchased which were cancelled (units): 0
Date lodged with registrar of companies: 13/12/2010
Lodged by: Tekala Corporation Berhad
TEKALA - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: TEKALA CORPORATION BERHAD
Stock Name: TEKALA
Date Announced: 13/12/2010
Announcement Detail:
Date of buy back: 13/12/2010
Description of shares purchased: Ordinary Shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 10,000
Minimum price paid for each share purchased ($$): 0.730
Maximum price paid for each share purchased ($$): 0.730
Total consideration paid ($$): 7,300.00
Number of shares purchased retained in treasury (units): 10,000
Cumulative net outstanding treasury shares as at to-date (units): 11,712,900
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 7.66
Company Name: TEKALA CORPORATION BERHAD
Stock Name: TEKALA
Date Announced: 13/12/2010
Announcement Detail:
Date of buy back: 13/12/2010
Description of shares purchased: Ordinary Shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 10,000
Minimum price paid for each share purchased ($$): 0.730
Maximum price paid for each share purchased ($$): 0.730
Total consideration paid ($$): 7,300.00
Number of shares purchased retained in treasury (units): 10,000
Cumulative net outstanding treasury shares as at to-date (units): 11,712,900
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 7.66
APOLLO - Quarterly rpt on consolidated results for the financial period ended 31/10/2010
Announcement Type: Financial Results
Company Name: APOLLO FOOD HOLDINGS BERHAD
Stock Name: APOLLO
Date Announced: 13/12/2010
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)
Company Name: APOLLO FOOD HOLDINGS BERHAD
Stock Name: APOLLO
Date Announced: 13/12/2010
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)
PNEPCB - General Announcement
Announcement Type: General Announcement
Company Name: PNE PCB BERHAD
Stock Name: PNEPCB
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: PNE PCB BERHAD:
Proposed Renewal of Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature
Contents: The Board of Directors of PNE PCB Berhad ("PNE") wishes to announce that PNE has on its Twenty Second Annual General Meeting held on 23 February 2010 obtained shareholders' approval for recurrent related party transactions of a revenue or trading nature. The aforesaid Shareholders' Mandate will expire at PNE's forthcoming Twenty Third Annual General Meeting ("23rd AGM").
Hence, pursuant to Paragraph 10.09 of Chapter 10 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, PNE intends to seek the shareholders' approval for the proposed renewal on the aforesaid Shareholders' Mandate for recurrent party transactions of a revenue or trading nature at its forthcoming 23rd AGM.
Company Name: PNE PCB BERHAD
Stock Name: PNEPCB
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: PNE PCB BERHAD:
Proposed Renewal of Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature
Contents: The Board of Directors of PNE PCB Berhad ("PNE") wishes to announce that PNE has on its Twenty Second Annual General Meeting held on 23 February 2010 obtained shareholders' approval for recurrent related party transactions of a revenue or trading nature. The aforesaid Shareholders' Mandate will expire at PNE's forthcoming Twenty Third Annual General Meeting ("23rd AGM").
Hence, pursuant to Paragraph 10.09 of Chapter 10 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, PNE intends to seek the shareholders' approval for the proposed renewal on the aforesaid Shareholders' Mandate for recurrent party transactions of a revenue or trading nature at its forthcoming 23rd AGM.
HDBS - Quarterly rpt on consolidated results for the financial period ended 31/10/2010
Announcement Type: Financial Results
Company Name: HWANG-DBS (MALAYSIA) BERHAD
Stock Name: HDBS
Date Announced: 13/12/2010
Announcement Detail:
Financial Year End: 31/07/2011
Quarter: 1
Quarterly report for the financial period ended: 31/10/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: HWANG-DBS (MALAYSIA) BERHAD
Stock Name: HDBS
Date Announced: 13/12/2010
Announcement Detail:
Financial Year End: 31/07/2011
Quarter: 1
Quarterly report for the financial period ended: 31/10/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
HDBS - Provision of Financial Assistance
Announcement Type: General Announcement
Company Name: HWANG-DBS (MALAYSIA) BERHAD
Stock Name: HDBS
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: Provision of Financial Assistance
Contents: Pursuant to Paragraph 8.23(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and paragraph 3 of the Practice Note 11, Hwang-DBS (Malaysia) Berhad ("Hwang-DBS") wishes to announce the following financial assistance rendered during the quarter ended 31 October 2010:
(a) Secured and unsecured loans amounting to RM12,754,871 and RM33,230,881 respectively were granted to third parties by its wholly-owned subsidiaries in their ordinary course of business.
(b) Downpayments made to contractors and vendors by a wholly-owned subsidiary amounting to RM237,885 for supply and installation of computer and office equipment and renovation works.
The financial assistance granted above amounting to RM46,223,637 has no significant impact on the net assets and earnings per share of Hwang-DBS Group.
The information required pursuant to Paragraph 8.23(2)(e) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad for the financial period ended 31 October 2010 is attached below.
Attachments: HDBS_Q111.pdf
Company Name: HWANG-DBS (MALAYSIA) BERHAD
Stock Name: HDBS
Date Announced: 13/12/2010
Announcement Detail:
Type: Announcement
Subject: Provision of Financial Assistance
Contents: Pursuant to Paragraph 8.23(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and paragraph 3 of the Practice Note 11, Hwang-DBS (Malaysia) Berhad ("Hwang-DBS") wishes to announce the following financial assistance rendered during the quarter ended 31 October 2010:
(a) Secured and unsecured loans amounting to RM12,754,871 and RM33,230,881 respectively were granted to third parties by its wholly-owned subsidiaries in their ordinary course of business.
(b) Downpayments made to contractors and vendors by a wholly-owned subsidiary amounting to RM237,885 for supply and installation of computer and office equipment and renovation works.
The financial assistance granted above amounting to RM46,223,637 has no significant impact on the net assets and earnings per share of Hwang-DBS Group.
The information required pursuant to Paragraph 8.23(2)(e) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad for the financial period ended 31 October 2010 is attached below.
Attachments: HDBS_Q111.pdf
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