TCUBES - General Announcement
Announcement Type: General Announcement
Company Name: TRICUBES BERHAD (ACE Market)
Stock Name: TCUBES
Date Announced: 18/11/2011
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NM-111116-57364
Subject: TRICUBES BERHAD ("TRICUBES" OR "THE COMPANY")
- LETTER OF AWARD FROM POLIS DIRAJA MALAYSIA ("PDRM") FOR THE APPOINTMENT OF TRICUBES AS THE COLLECTION AGENT OF TRAFFIC SUMMONS VIA AUTOMATED TELLER MACHINE ("ATM") AND ENQUIRY OF TRAFFIC SUMMONS THROUGH SMS (hereinafter referred to as "Project")
Description: Further to our announcement pertaining to the above matter and query letter from Bursa Malaysia Securities Berhad on 16 November 2011, Tricubes would like to announce the following:-
1. Depending on when the project is commercialised, it is expected to contribute positively to the earnings and net assets per share of the group thereafter. Based on our initial projection and scope, the project is not expected to have any material effect on the gearing of the company.
2. None of the directors and/or major shareholders and/or persons connected to them has any interest, direct or indirect in the project.
3. The award will be subject to contract finalization and as such we are not at liberty to release any other information until the contract is finalised and signed.
4. The period of appointment will be subject to contract finalization.
5. The tariff has been approved by the government. The revenue sharing formula with our partner bank is currently under discussions and final details of which can only be released upon contract finalisation.
6. The Company does not foresee any exceptional risk other than normal operational risks associated with the Project. The Company will take the necessary steps to mitigate its risks.
7. The Company expects that the initial source of funding for the Project will be from internally generated funds. The estimated financial commitment will be dependent on the final scope to be agreed during contract finalisation.
8. Depending on when the contract is finalised, the project is expected to be commercialised within 3 to 5 months thereafter.
This announcement is dated 18 November 2011.
Query Letter content: We refer to your announcement dated 16 November 2011 in respect of the above
captioned matter.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release :-
1) The effect of the Projecton the earnings per share, net assets per share
andgearing of the Tricubes group;
2)Whether the directors and/or major shareholders and/or persons connected
with a director or major shareholder have any interest, direct or indirect, in
theProject, and the nature and extent of their interests.
3)The salient features of theletter of award.
4) Tenure of the appointment, and whether it is renewable. If so, for how
many years.
5) Description of the business model of the Project, and the basis for any
consideration to be received by Tricubes as the collection agent of traffic
summons, and for the enquiry of traffic summons via SMS.
6) The risks in relation to the Project.
7)The estimated financial commitment required of Tricubes in putting the
Project on-stream, and the sources of funding.
8) The expected date of commercialization of the Project.
Kindly furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Regulation
TYE/NMA
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)
Company Name: TRICUBES BERHAD (ACE Market)
Stock Name: TCUBES
Date Announced: 18/11/2011
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NM-111116-57364
Subject: TRICUBES BERHAD ("TRICUBES" OR "THE COMPANY")
- LETTER OF AWARD FROM POLIS DIRAJA MALAYSIA ("PDRM") FOR THE APPOINTMENT OF TRICUBES AS THE COLLECTION AGENT OF TRAFFIC SUMMONS VIA AUTOMATED TELLER MACHINE ("ATM") AND ENQUIRY OF TRAFFIC SUMMONS THROUGH SMS (hereinafter referred to as "Project")
Description: Further to our announcement pertaining to the above matter and query letter from Bursa Malaysia Securities Berhad on 16 November 2011, Tricubes would like to announce the following:-
1. Depending on when the project is commercialised, it is expected to contribute positively to the earnings and net assets per share of the group thereafter. Based on our initial projection and scope, the project is not expected to have any material effect on the gearing of the company.
2. None of the directors and/or major shareholders and/or persons connected to them has any interest, direct or indirect in the project.
3. The award will be subject to contract finalization and as such we are not at liberty to release any other information until the contract is finalised and signed.
4. The period of appointment will be subject to contract finalization.
5. The tariff has been approved by the government. The revenue sharing formula with our partner bank is currently under discussions and final details of which can only be released upon contract finalisation.
6. The Company does not foresee any exceptional risk other than normal operational risks associated with the Project. The Company will take the necessary steps to mitigate its risks.
7. The Company expects that the initial source of funding for the Project will be from internally generated funds. The estimated financial commitment will be dependent on the final scope to be agreed during contract finalisation.
8. Depending on when the contract is finalised, the project is expected to be commercialised within 3 to 5 months thereafter.
This announcement is dated 18 November 2011.
Query Letter content: We refer to your announcement dated 16 November 2011 in respect of the above
captioned matter.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release :-
1) The effect of the Projecton the earnings per share, net assets per share
andgearing of the Tricubes group;
2)Whether the directors and/or major shareholders and/or persons connected
with a director or major shareholder have any interest, direct or indirect, in
theProject, and the nature and extent of their interests.
3)The salient features of theletter of award.
4) Tenure of the appointment, and whether it is renewable. If so, for how
many years.
5) Description of the business model of the Project, and the basis for any
consideration to be received by Tricubes as the collection agent of traffic
summons, and for the enquiry of traffic summons via SMS.
6) The risks in relation to the Project.
7)The estimated financial commitment required of Tricubes in putting the
Project on-stream, and the sources of funding.
8) The expected date of commercialization of the Project.
Kindly furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Regulation
TYE/NMA
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)
CIMBA40 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Announcement Type: General Announcement
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE ASEAN 40 MALAYSIA
Stock Name: CIMBA40
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Description: Fund: CIMB FTSE ASEAN 40 Malaysia
Date: 18-Nov-2011
IOPV per unit (RM): 1.4919
Units in circulation (units): 8,100,000.00
Management Fee (% p.a.): 0.00
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.00
FTSE/ASEAN 40 Index: 9,578.65
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE ASEAN 40 MALAYSIA
Stock Name: CIMBA40
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Description: Fund: CIMB FTSE ASEAN 40 Malaysia
Date: 18-Nov-2011
IOPV per unit (RM): 1.4919
Units in circulation (units): 8,100,000.00
Management Fee (% p.a.): 0.00
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.00
FTSE/ASEAN 40 Index: 9,578.65
CIMBC25 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Announcement Type: General Announcement
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE CHINA 25
Stock Name: CIMBC25
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Description: Fund: CIMB FTSE China 25
Date: 18-Nov-2011
IOPV per unit (RM): 0.8716
Units in circulation (units): 13,650,000.00
Management Fee (% p.a.): 0.60
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.04
FTSE/Xinhua China 25 Index: 15,681.02
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE CHINA 25
Stock Name: CIMBC25
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Description: Fund: CIMB FTSE China 25
Date: 18-Nov-2011
IOPV per unit (RM): 0.8716
Units in circulation (units): 13,650,000.00
Management Fee (% p.a.): 0.60
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.04
FTSE/Xinhua China 25 Index: 15,681.02
TDM - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS): DEALINGS DURING CLOSED PERIOD
Announcement Type: General Announcement
Company Name: TDM BERHAD
Stock Name: TDM
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS DURING CLOSED PERIOD
Description: Pursuant to Chapter 14 of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities") on dealings in securities, TDM Berhad ("Company" or "TDM") had received notification from Y. Bhg. Dato' Haji Adzlan Bin Mohd Dagang, a Director of the Company, in relation to his exempted dealings in TDM shares [Paragraph 14.06 (a) of the MMLR of Bursa Securities] during closed period. Kindly refer to the table below for further information.
Company Name: TDM BERHAD
Stock Name: TDM
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS DURING CLOSED PERIOD
Description: Pursuant to Chapter 14 of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities") on dealings in securities, TDM Berhad ("Company" or "TDM") had received notification from Y. Bhg. Dato' Haji Adzlan Bin Mohd Dagang, a Director of the Company, in relation to his exempted dealings in TDM shares [Paragraph 14.06 (a) of the MMLR of Bursa Securities] during closed period. Kindly refer to the table below for further information.
CVIEW - General Announcement
Announcement Type: General Announcement
Company Name: COUNTRY VIEW BERHAD
Stock Name: CVIEW
Date Announced: 18/11/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NE-111117-61130
Subject: MAHKAMAH TINGGI MALAYA DI JOHOR BAHRU DALAM NEGERI JOHOR, MALAYSIA (SUIT NO 23NCvC-174-09/2011) ("SUMMONS")
Description: In connection with the queries raised by Bursa Malaysia Securities Berhad (letter dated 17 November 2011) the following additional information for public release is as follows:-
a) The Writ of Summons when served on CVR's solicitors on 16 November 2011 was undated. Our solicitors have advised that there are procedural irregularities in the Writ of Summons and will be pursuing and bringing up these matters with the High Court.
b) Under the Summons, the Plaintiff claims:
i) interest at the rate of 8% per annum on general damages from the date of filing the Summons to the date of full settlement;
ii) interest at the rate of 4% per annum on special damages of RM33,950,000 from the date of filing summons to the date of full settlement; and
iii) interest at the rate of 8% per annum on the Judgement sum from the date of Judgement to the date of full settlement.
c) Country View Resources Sdn. Bhd. ("CVR") is a wholly-owned subsidiary. Based on the Audited Financial Statements as at 30 November 2010, the contribution to loss before tax by CVR to the Group was 62% while the total assets employed by CVR to the Group was 61%. On this basis, CVR is not considered a major subsidiary.
However it has to be noted that as per the latest Unaudited Quarterly Interim Financial Statements as at 31 August 2011, the contribution to profit before tax by CVR to the Group was 149% while the total assets employed by CVR to the Group was 65%.
d) CVR was incorporated on 17 August 2000 and over the years, the total cost of investment in CVR as per the latest Audited Financial Statements as at 30 November 2010 is RM2.5 million, being equity capital subscribed by CVB.
e) At the present moment, the likely outcome of the suit/action cannot be ascertained but there is a possibility that CVR can be held liable but the amount of liability cannot be reliably measured until the determination of the suit/action. As such, expected losses if any arising from the Summons cannot be determined at this moment.
f) No date of hearing has been fixed at the present moment. The High Court has fixed 2 December 2011 for CVR to file it's Statement of Defence.
This announcement is dated 18 November 2011 .
Query Letter content: We refer to your Company's announcement dated 16 November 2011 in respect of
the Summons.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following information immediately for public release:
(a) Date of the Summons;
(b) Particulars of interest rate claimed for, under the Summons;
(c) A confirmation as to whether the subsidiary is a major subsidiary;
(d) Where the Summons is commenced against a subsidiary, the total cost of
investment in such subsidiary;
(g) The expected losses, if any arising from the Summons; and
(h) Date of hearing.
Yours faithfully
KHOO KAY KWAN
Head, Issuers
Listing Division
Regulation
KKK/RSA/ne
c.c: General Manager & Head, Market Surveillance Department, Market
Supervision Business Group, Securities Commission (via fax)
Company Name: COUNTRY VIEW BERHAD
Stock Name: CVIEW
Date Announced: 18/11/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NE-111117-61130
Subject: MAHKAMAH TINGGI MALAYA DI JOHOR BAHRU DALAM NEGERI JOHOR, MALAYSIA (SUIT NO 23NCvC-174-09/2011) ("SUMMONS")
Description: In connection with the queries raised by Bursa Malaysia Securities Berhad (letter dated 17 November 2011) the following additional information for public release is as follows:-
a) The Writ of Summons when served on CVR's solicitors on 16 November 2011 was undated. Our solicitors have advised that there are procedural irregularities in the Writ of Summons and will be pursuing and bringing up these matters with the High Court.
b) Under the Summons, the Plaintiff claims:
i) interest at the rate of 8% per annum on general damages from the date of filing the Summons to the date of full settlement;
ii) interest at the rate of 4% per annum on special damages of RM33,950,000 from the date of filing summons to the date of full settlement; and
iii) interest at the rate of 8% per annum on the Judgement sum from the date of Judgement to the date of full settlement.
c) Country View Resources Sdn. Bhd. ("CVR") is a wholly-owned subsidiary. Based on the Audited Financial Statements as at 30 November 2010, the contribution to loss before tax by CVR to the Group was 62% while the total assets employed by CVR to the Group was 61%. On this basis, CVR is not considered a major subsidiary.
However it has to be noted that as per the latest Unaudited Quarterly Interim Financial Statements as at 31 August 2011, the contribution to profit before tax by CVR to the Group was 149% while the total assets employed by CVR to the Group was 65%.
d) CVR was incorporated on 17 August 2000 and over the years, the total cost of investment in CVR as per the latest Audited Financial Statements as at 30 November 2010 is RM2.5 million, being equity capital subscribed by CVB.
e) At the present moment, the likely outcome of the suit/action cannot be ascertained but there is a possibility that CVR can be held liable but the amount of liability cannot be reliably measured until the determination of the suit/action. As such, expected losses if any arising from the Summons cannot be determined at this moment.
f) No date of hearing has been fixed at the present moment. The High Court has fixed 2 December 2011 for CVR to file it's Statement of Defence.
This announcement is dated 18 November 2011 .
Query Letter content: We refer to your Company's announcement dated 16 November 2011 in respect of
the Summons.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following information immediately for public release:
(a) Date of the Summons;
(b) Particulars of interest rate claimed for, under the Summons;
(c) A confirmation as to whether the subsidiary is a major subsidiary;
(d) Where the Summons is commenced against a subsidiary, the total cost of
investment in such subsidiary;
(g) The expected losses, if any arising from the Summons; and
(h) Date of hearing.
Yours faithfully
KHOO KAY KWAN
Head, Issuers
Listing Division
Regulation
KKK/RSA/ne
c.c: General Manager & Head, Market Surveillance Department, Market
Supervision Business Group, Securities Commission (via fax)
HYTEXIN - MATERIAL LITIGATION
Announcement Type: General Announcement
Company Name: HYTEX INTEGRATED BERHAD
Stock Name: HYTEXIN
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: MATERIAL LITIGATION
Description: HYTEX INTEGRATED BERHAD ("THE COMPANY" OR HYTEXIN")
- HSBC BANK MALAYSIA BERHAD V. (i) HYTEX APPARELS SDN BHD (ii) HYTEX INTEGRATED BERHAD
Company Name: HYTEX INTEGRATED BERHAD
Stock Name: HYTEXIN
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: MATERIAL LITIGATION
Description: HYTEX INTEGRATED BERHAD ("THE COMPANY" OR HYTEXIN")
- HSBC BANK MALAYSIA BERHAD V. (i) HYTEX APPARELS SDN BHD (ii) HYTEX INTEGRATED BERHAD
TIGER - MEMORANDUM OF UNDERSTANDING
Announcement Type: General Announcement
Company Name: TIGER SYNERGY BERHAD
Stock Name: TIGER
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: MEMORANDUM OF UNDERSTANDING
Description: MEMORANDUM OF UNDERSTANDING BETWEEN PEMBINAAN TERASIA SDN BHD AND NUJADE GARDEN SDN BHD
Company Name: TIGER SYNERGY BERHAD
Stock Name: TIGER
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: MEMORANDUM OF UNDERSTANDING
Description: MEMORANDUM OF UNDERSTANDING BETWEEN PEMBINAAN TERASIA SDN BHD AND NUJADE GARDEN SDN BHD
CAMRES - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS
Announcement Type: General Announcement
Company Name: CAM RESOURCES BERHAD
Stock Name: CAMRES
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description: CAM RESOURCES BERHAD ("CAM" or "the Company")
(I) PROPOSED ACQUISITION OF PROPERTY ("PROPOSED ACQUISITION OF LAND")
(II) PROPOSED ACQUISITION OF EQUITY SHARES IN HOK HUA PALM OIL INDUSTRIES SDN BHD ("PROPOSED ACQUISITION OF SHARES")
(collectively referred to as "the Proposals")
Company Name: CAM RESOURCES BERHAD
Stock Name: CAMRES
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description: CAM RESOURCES BERHAD ("CAM" or "the Company")
(I) PROPOSED ACQUISITION OF PROPERTY ("PROPOSED ACQUISITION OF LAND")
(II) PROPOSED ACQUISITION OF EQUITY SHARES IN HOK HUA PALM OIL INDUSTRIES SDN BHD ("PROPOSED ACQUISITION OF SHARES")
(collectively referred to as "the Proposals")
YTLCMT - YTLCMT - NOTICE OF BOOK CLOSURE
Announcement Type: Listing Circular
Company Name: YTL CEMENT BERHAD
Stock Name: YTLCMT
Date Announced: 18/11/2011
Announcement Detail:
Subject: YTLCMT - NOTICE OF BOOK CLOSURE
Contents: Interim single tier dividend of 7.5% or 3.75 sen per ordinary share of 50 sen each in respect of the financial year ending 30 June 2012.
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ]
as from : [ 23 December 2011 ]
2) The last date of lodgement : [ 28 December 2011 ]
3) Date Payable : [ 13 January 2012 ]
Company Name: YTL CEMENT BERHAD
Stock Name: YTLCMT
Date Announced: 18/11/2011
Announcement Detail:
Subject: YTLCMT - NOTICE OF BOOK CLOSURE
Contents: Interim single tier dividend of 7.5% or 3.75 sen per ordinary share of 50 sen each in respect of the financial year ending 30 June 2012.
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ]
as from : [ 23 December 2011 ]
2) The last date of lodgement : [ 28 December 2011 ]
3) Date Payable : [ 13 January 2012 ]
HIRO - General Announcement
Announcement Type: General Announcement
Company Name: HIROTAKO HOLDINGS BHD
Stock Name: HIRO
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description: We refer to Hirotako Holdings Berhad's ("HHB") Circular to Shareholders in relation to the proposed renewal of and new Shareholders' Mandate for Recurrent Related Party Transactions ("RRPT") of a revenue or trading nature ("Proposed Shareholders' Mandate") dated 26 May 2011. The ordinary resolution on the Proposed Shareholders' Mandate had been approved by the shareholders of HHB at the Twentieth Annual General Meeting held on 23 June 2011.
Pursuant to Paragraph 10.09 (1a) of the Main Market Listing Requirement of Bursa Malaysia Securities Berhad, the Board of Directors of HHB wishes to announce that HHB, through its 51% owned subsidiaries ("the Group") have in the ordinary course of their business entered into new RRPT as set out in RRPT Table attached.
RATIONAL
The RRPT entered are all in the ordinary course of business. The transactions made on an arm's length basis and on normal commercial terms and which are not prejudicial to the interests of the shareholders.
FINANCIAL EFFECTS OF THE PROPOSALS
The RRPT do not have any effect on the issued and paid-up share capital of HHB and it will not have any financial effects on the consolidated earnings and net tangible assets of the HHB Group.
STATEMENT BY THE AUDIT COMMITTEE
The Audit Committee of the Company has reviewed the RRPT and is satisfied that the Recurrent Related Party Transactions are not more favorable to the Related Parties than those generally available to the public and are not detrimental to the minority shareholders of HHB. Audit Committee of the Company ensure that the group of companies has in place adequate procedures and processes to monitor, track and identify Recurrent Related Party Transactions in a timely and orderly manner.
STATEMENT BY DIRECTORS
The Board is of the opinion that the RRPT is in the best interest of the shareholders of HHB and the Group.
APPROVAL OF SHAREHOLDERS AND THE RELEVANT AUTHORITIES
The Group will include this RRPT in the Shareholders' Mandate to obtain Shareholder's approval in forthcoming Annual General Meeting.
Attachments: RRPT-Bursa_20111116-AM.pdf
Company Name: HIROTAKO HOLDINGS BHD
Stock Name: HIRO
Date Announced: 18/11/2011
Announcement Detail:
Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description: We refer to Hirotako Holdings Berhad's ("HHB") Circular to Shareholders in relation to the proposed renewal of and new Shareholders' Mandate for Recurrent Related Party Transactions ("RRPT") of a revenue or trading nature ("Proposed Shareholders' Mandate") dated 26 May 2011. The ordinary resolution on the Proposed Shareholders' Mandate had been approved by the shareholders of HHB at the Twentieth Annual General Meeting held on 23 June 2011.
Pursuant to Paragraph 10.09 (1a) of the Main Market Listing Requirement of Bursa Malaysia Securities Berhad, the Board of Directors of HHB wishes to announce that HHB, through its 51% owned subsidiaries ("the Group") have in the ordinary course of their business entered into new RRPT as set out in RRPT Table attached.
RATIONAL
The RRPT entered are all in the ordinary course of business. The transactions made on an arm's length basis and on normal commercial terms and which are not prejudicial to the interests of the shareholders.
FINANCIAL EFFECTS OF THE PROPOSALS
The RRPT do not have any effect on the issued and paid-up share capital of HHB and it will not have any financial effects on the consolidated earnings and net tangible assets of the HHB Group.
STATEMENT BY THE AUDIT COMMITTEE
The Audit Committee of the Company has reviewed the RRPT and is satisfied that the Recurrent Related Party Transactions are not more favorable to the Related Parties than those generally available to the public and are not detrimental to the minority shareholders of HHB. Audit Committee of the Company ensure that the group of companies has in place adequate procedures and processes to monitor, track and identify Recurrent Related Party Transactions in a timely and orderly manner.
STATEMENT BY DIRECTORS
The Board is of the opinion that the RRPT is in the best interest of the shareholders of HHB and the Group.
APPROVAL OF SHAREHOLDERS AND THE RELEVANT AUTHORITIES
The Group will include this RRPT in the Shareholders' Mandate to obtain Shareholder's approval in forthcoming Annual General Meeting.
Attachments: RRPT-Bursa_20111116-AM.pdf
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