November 9, 2012

Company announcements: CSCSTEL, AIRASIA, ATRIUM, PENERGY

CSCSTEL - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS

Announcement Type: General Announcement
Company NameCSC STEEL HOLDINGS BERHAD  
Stock Name CSCSTEL  
Date Announced9 Nov 2012  
CategoryGeneral Announcement
Reference NoCM-121108-36793

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionEXECUTION OF SHARE SALE AND PURCHASE AGREEMENT AND SHAREHOLDERS' AGREEMENT IN ESCROW BY CSC STEEL HOLDINGS BERHAD (“CHB”) IN RESPECT OF PURCHASE OF 8,000,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 20% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF TATT GIAP STEEL CENTRE SDN. BHD. FROM TATT GIAP GROUP BERHAD

Please refer to the attached file for details of the announcement.

This announcement is dated 9 November 2012.



CSCSTEL - Quarterly rpt on consolidated results for the financial period ended 30/9/2012

Announcement Type: Financial Results
Company NameCSC STEEL HOLDINGS BERHAD  
Stock Name CSCSTEL  
Date Announced9 Nov 2012  
CategoryFinancial Results
Reference NoCM-121108-35334

Financial Year End31/12/2012
Quarter3
Quarterly report for the financial period ended30/09/2012
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2012

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2012
30/09/2011
30/09/2012
30/09/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
306,610
320,610
857,419
929,298
2Profit/(loss) before tax
7,984
-1,978
30,120
38,215
3Profit/(loss) for the period
6,152
1,223
22,385
31,613
4Profit/(loss) attributable to ordinary equity holders of the parent
6,152
1,223
22,385
31,613
5Basic earnings/(loss) per share (Subunit)
1.65
0.33
6.00
8.47
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
2.0600
2.0700
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


AIRASIA - Changes in Sub. S-hldr's Int. (29B) - Dato' Kamarudin Bin Meranun

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameAIRASIA BERHAD  
Stock Name AIRASIA  
Date Announced9 Nov 2012  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCM-121109-F2D63

Particulars of substantial Securities Holder

NameDato' Kamarudin Bin Meranun
Address27 Jalan Setiabakti 6
Bukit Damansara
50490 Kuala Lumpur
Wilayah Persekutuan
NRIC/Passport No/Company No.610608-10-6443
Nationality/Country of incorporationMalaysian
Descriptions (Class & nominal value)Ordinary shares of RM0.10 each
Name & address of registered holderDirect:-
1) Dato’ Kamarudin Bin Meranun – 2,292,900

Indirect:-
1) Tune Air Sdn Bhd – 210,358,930
2) ECML Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tune Air Sdn Bhd (001) – 89,649,452
3) HSBC Nominees (Tempatan) Sdn Bhd - Credit Suisse HK for Tune Air Sdn Bhd - 188,000,000
4) Maybank Nominees (Tempatan) Sdn Bhd - Kuwait Finance House (Malaysia) Berhad for Tune Air Sdn Bhd (Tony Fernandes) - 35,100,000
5) Citigroup Nominees (Tempatan) Sdn Bhd – Pledged Securities Account – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CB SG)– 31,500,000
6) Citigroup Nominees (Tempatan) Sdn Bhd – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CBSG)– 18,000,000
7) Cimsec Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tune Air Sdn Bhd (EDG&GCM) - 68,000,000
8) Tune Group Sdn Bhd - 39,500,000

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired08/11/2012
1,100,000
 

Circumstances by reason of which change has occurredAcquisition of shares
Nature of interestDirect and Indirect
Direct (units)2,292,900 
Direct (%)0.08 
Indirect/deemed interest (units)680,108,382 
Indirect/deemed interest (%)24.47 
Total no of securities after change682,401,282
Date of notice09/11/2012

Remarks :
This announcement is based on the information in the Notice of Change in the Interests of Substantial Shareholder from Dato' Kamarudin Bin Meranun dated 9 November 2012 received by the registered office of AirAsia Berhad on 9 November 2012.


AIRASIA - Changes in Director's Interest (S135) - Dato' Kamarudin Bin Meranun

Announcement Type: Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Company NameAIRASIA BERHAD  
Stock Name AIRASIA  
Date Announced9 Nov 2012  
CategoryChanges in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Reference NoCM-121109-F2D53

Information Compiled By KLSE

Particulars of Director

NameDato' Kamarudin Bin Meranun
Address27 Jalan Setiabakti 6
Bukit Damansara
50490 Kuala Lumpur
Wilayah Persekutuan
Descriptions(Class & nominal value)Ordinary shares of RM0.10 each

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted (RM)
Acquired
08/11/2012
1,100,000
2.945 

Circumstances by reason of which change has occurredAcquisition of shares
Nature of interestDirect and Indirect
Consideration (if any) 

Total no of securities after change

Direct (units)2,292,900 
Direct (%)0.08 
Indirect/deemed interest (units)680,108,382 
Indirect/deemed interest (%)24.47 
Date of notice09/11/2012

Remarks :
Direct:-
1) Dato’ Kamarudin Bin Meranun – 2,292,900

Indirect:-
1) Tune Air Sdn Bhd – 210,358,930
2) ECML Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tune Air Sdn Bhd (001) – 89,649,452
3) HSBC Nominees (Tempatan) Sdn Bhd - Credit Suisse HK for Tune Air Sdn Bhd - 188,000,000
4) Maybank Nominees (Tempatan) Sdn Bhd - Kuwait Finance House (Malaysia) Berhad for Tune Air Sdn Bhd (Tony Fernandes) - 35,100,000
5) Citigroup Nominees (Tempatan) Sdn Bhd – Pledged Securities Account – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CB SG)– 31,500,000
6) Citigroup Nominees (Tempatan) Sdn Bhd – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CBSG)– 18,000,000
7) Cimsec Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tune Air Sdn Bhd (EDG&GCM) - 68,000,000
8) Tune Group Sdn Bhd - 39,500,000

The 1,100,000 acquired shares is equivalent to 0.04% of all issued securities of AirAsia Berhad.

This announcement is made pursuant to Paragraph 14.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and based on the information in the Notice of Disclosure pursuant to Section 135(1)(a) and (b) of the Companies Act, 1965 of Dato' Kamarudin Bin Meranun received by the registered office of AirAsia Berhad on 9 November 2012.


AIRASIA - Changes in Sub. S-hldr's Int. (29B) - Tan Sri Dr. Anthony Francis Fernandes

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameAIRASIA BERHAD  
Stock Name AIRASIA  
Date Announced9 Nov 2012  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCM-121109-F2D70

Particulars of substantial Securities Holder

NameTan Sri Dr. Anthony Francis Fernandes
Address37-2, Bangsar Heights
Jalan Kaloi
Off Jalan Kurau
59100 Kuala Lumpur
Wilayah Persekutuan
NRIC/Passport No/Company No.640430-10-7525
Nationality/Country of incorporationMalaysian
Descriptions (Class & nominal value)Ordinary shares of RM0.10 each
Name & address of registered holderDirect:-
1) Tan Sri Dr. Anthony Francis Fernandes – 600,000
2) Cimsec Nominees (Tempatan) Sdn Bhd - CIMB Bank for Anthony Francis Fernandes (MY1029) - 2,627,010

Indirect:-
1) Tune Air Sdn Bhd – 210,358,930
2) ECML Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tune Air Sdn Bhd (001) – 89,649,452
3) HSBC Nominees (Tempatan) Sdn Bhd - Credit Suisse HK for Tune Air Sdn Bhd - 188,000,000
4) Maybank Nominees (Tempatan) Sdn Bhd - Kuwait Finance House (Malaysia) Berhad for Tune Air Sdn Bhd (Tony Fernandes) - 35,100,000
5) Citigroup Nominees (Tempatan) Sdn Bhd – Pledged Securities Account – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CB SG)– 31,500,000
6) Citigroup Nominees (Tempatan) Sdn Bhd – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CBSG)– 18,000,000
7) Cimsec Nominees (Tempatan) Sdn Bhd -Pledged Securities Account for Tune Air Sdn Bhd (EDG&GCM) - 68,000,000
8) Tune Group Sdn Bhd - 39,500,000

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired08/11/2012
1,100,000
 

Circumstances by reason of which change has occurredAcquisition of shares
Nature of interestDirect and Indirect
Direct (units)3,227,010 
Direct (%)0.12 
Indirect/deemed interest (units)680,108,382 
Indirect/deemed interest (%)24.47 
Total no of securities after change683,335,392
Date of notice09/11/2012

Remarks :
This announcement is based on the information in the Notice of Change in the Interests of Substantial Shareholder from Tan Sri Dr. Anthony Francis Fernandes dated 9 November 2012 received by the registered office of AirAsia Berhad on 9 November 2012.


AIRASIA - Changes in Director's Interest (S135) - Tan Sri Dr. Anthony Francis Fernandes

Announcement Type: Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Company NameAIRASIA BERHAD  
Stock Name AIRASIA  
Date Announced9 Nov 2012  
CategoryChanges in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Reference NoCM-121109-F2D6F

Information Compiled By KLSE

Particulars of Director

NameTan Sri Dr. Anthony Francis Fernandes
Address37-2, Bangsar Heights
Jalan Kaloi
Off Jalan Kurau
59100 Kuala Lumpur
Wilayah Persekutuan
Descriptions(Class & nominal value)Ordinary shares of RM0.10 each

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted (RM)
Acquired
08/11/2012
1,100,000
2.945 

Circumstances by reason of which change has occurredAcquisition of shares
Nature of interestDirect and Indirect
Consideration (if any) 

Total no of securities after change

Direct (units)3,227,010 
Direct (%)0.12 
Indirect/deemed interest (units)680,108,382 
Indirect/deemed interest (%)24.47 
Date of notice09/11/2012

Remarks :
Direct:-
1) Tan Sri Dr. Anthony Francis Fernandes – 600,000
2) Cimsec Nominees (Tempatan) Sdn Bhd - CIMB Bank for Anthony Francis Fernandes (MY1029) - 2,627,010

Indirect:-
1) Tune Air Sdn Bhd – 210,358,930
2) ECML Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tune Air Sdn Bhd (001) – 89,649,452
3) HSBC Nominees (Tempatan) Sdn Bhd - Credit Suisse HK for Tune Air Sdn Bhd - 188,000,000
4) Maybank Nominees (Tempatan) Sdn Bhd - Kuwait Finance House (Malaysia) Berhad for Tune Air Sdn Bhd (Tony Fernandes) - 35,100,000
5) Citigroup Nominees (Tempatan) Sdn Bhd – Pledged Securities Account – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CB SG)– 31,500,000
6) Citigroup Nominees (Tempatan) Sdn Bhd – Bank Julius Baer & Co Ltd for Tune Air Sdn Bhd (CBSG)– 18,000,000
7) Cimsec Nominees (Tempatan) Sdn Bhd -Pledged Securities Account for Tune Air Sdn Bhd (EDG&GCM) - 68,000,000
8) Tune Group Sdn Bhd - 39,500,000

The 1,100,000 acquired shares is equivalent to 0.04% of all issued securities of AirAsia Berhad.

This announcement is made pursuant to Paragraph 14.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and based on the information in the Notice of Disclosure pursuant to Section 135(1)(a) and (b) of the Companies Act, 1965 of Tan Sri Dr. Anthony Francis Fernandes received by the registered office of AirAsia Berhad on 9 November 2012.


AIRASIA - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS DURING CLOSED PERIOD

Announcement Type: General Announcement
Company NameAIRASIA BERHAD  
Stock Name AIRASIA  
Date Announced9 Nov 2012  
CategoryGeneral Announcement
Reference NoCM-121109-608A5

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS DURING CLOSED PERIOD
DescriptionAIRASIA BERHAD (“AIRASIA” OR “THE COMPANY”)
NOTIFICATION PURSUANT TO PARAGRAPH 14.08 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (“MMLR”) OF DEALINGS IN THE SECURITIES OF AIRASIA DURING CLOSED PERIOD

AirAsia had on 19 October 2012 announced the receipt of a notification from Tan Sri Dr. Anthony Francis Fernandes ("Tan Sri Dr. Tony Fernandes"), Non-Independent Non-Executive Director of AirAsia, pursuant to Paragraph 14.08(a) of the MMLR of his intention to deal in the shares of AirAsia during closed period.



Further to the aforesaid announcement, AirAsia had on 9 November 2012 received a notification from Tan Sri Dr. Tony Fernandes pursuant to Paragraph 14.08(d) of the MMLR in respect of his dealings in the securities of the Company on 8 November 2012 as stated below:-

(a) An acquisition of 1,100,000 Ordinary Shares of RM0.10 each, equivalent to 0.04% of all issued securities of AirAsia, by Tune Group Sdn Bhd (“TGSB”), which Tan Sri Dr. Tony Fernandes has deemed interest by virtue of Section 6A of the Companies Act, 1965 through a shareholding of more than 15% in TGSB (“Acquisition”).



Upon completion of the aforesaid Acquisition, the balance of number of shares held by Tan Sri Dr. Tony Fernandes is as follows:-

Type of shareholding

Number of Ordinary Shares of RM0.10 each in the Company

% of the Company's issued capital

Direct

3,227,010

0.12

Indirect interest

Tune Air Sdn. Bhd. (“TASB”)*

Tune Group Sdn. Bhd.

640,608,382

39,500,000

23.04


1.42

Total

683,335,392

24.58

* inclusive of shares held by ECML Nominees (Tempatan) Sdn. Bhd., Cimsec Nominees (Tempatan) Sdn. Bhd., Maybank Nominees (Tempatan) Sdn. Bhd., HSBC Nominees (Tempatan) Sdn. Bhd. and Citigroup Nominees (Tempatan) Sdn. Bhd. for TASB.

This announcement is dated 9th November 2012.



AIRASIA - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS DURING CLOSED PERIOD

Announcement Type: General Announcement
Company NameAIRASIA BERHAD  
Stock Name AIRASIA  
Date Announced9 Nov 2012  
CategoryGeneral Announcement
Reference NoCM-121109-608B0

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS DURING CLOSED PERIOD
DescriptionAIRASIA BERHAD (“AIRASIA” OR “THE COMPANY”)
NOTIFICATION PURSUANT TO PARAGRAPH 14.08 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (“MMLR”) OF DEALINGS IN THE SECURITIES OF AIRASIA DURING CLOSED PERIOD

AirAsia had on 19 October 2012 announced the receipt of a notification from Dato’ Kamarudin Bin Meranun ("Dato’ Kamarudin"), Non-Independent Non-Executive Director of AirAsia, pursuant to Paragraph 14.08(a) of the MMLR of his intention to deal in the shares of AirAsia during closed period.



Further to the aforesaid announcement, AirAsia had on 9 November 2012 received a notification from Dato' Kamarudin pursuant to Paragraph 14.08(d) of the MMLR in respect of his dealings in the securities of the Company on 8 November 2012 as stated below:-

(a) An acquisition of 1,100,000 Ordinary Shares of RM0.10 each, equivalent to 0.04% of all issued securities of AirAsia, by Tune Group Sdn Bhd (“TGSB”), which Dato’ Kamarudin has deemed interest by virtue of Section 6A of the Companies Act, 1965 through a shareholding of more than 15% in TGSB (“Acquisition”).



Upon completion of the aforesaid Acquisition, the balance of number of shares held by Dato’ Kamarudin is as follows:-

Type of shareholding

Number of Ordinary Shares of RM0.10 each in the Company

% of the Company's issued capital

Direct

2,292,900

0.08

Indirect interest

Tune Air Sdn. Bhd. (“TASB”)*

Tune Group Sdn. Bhd.

640,608,382

39,500,000

23.04


1.42

Total

682,401,282

24.54

* inclusive of shares held by ECML Nominees (Tempatan) Sdn. Bhd., Cimsec Nominees (Tempatan) Sdn. Bhd., Maybank Nominees (Tempatan) Sdn. Bhd., HSBC Nominees (Tempatan) Sdn. Bhd. and Citigroup Nominees (Tempatan) Sdn. Bhd. for TASB.

This announcement is dated 9th November 2012.



ATRIUM - OTHERS Acquisition of Atrium Real Estate Investment Trust ("Atrium REIT") units by the Manager of Atrium REIT, namely Atrium REIT Managers Sdn Bhd

Announcement Type: General Announcement
Company NameATRIUM REAL ESTATE INVESTMENT TRUST  
Stock Name ATRIUM  
Date Announced9 Nov 2012  
CategoryGeneral Announcement
Reference NoCK-121108-63858

TypeAnnouncement
SubjectOTHERS
DescriptionAcquisition of Atrium Real Estate Investment Trust ("Atrium REIT") units by the Manager of Atrium REIT, namely Atrium REIT Managers Sdn Bhd

Atrium REIT Managers Sdn Bhd ("ARM") had on�8 November 2012 acquired 75,200 Atrium REIT units of RM1.00 each directly in the open market. The total units held by ARM in Atrium REIT after the acquisition is 397,300 units representing 0.33% of the total units in circulation.



PENERGY - PETRA ENERGY BERHAD ("PENERGY" or "the Company") - Provision of Offshore Services Contract (OSC) for Gumusut-Kakap Development

Announcement Type: General Announcement
Company NamePETRA ENERGY BERHAD  
Stock Name PENERGY  
Date Announced9 Nov 2012  
CategoryGeneral Announcement
Reference NoCS-121109-462B1

TypeReply to query
Reply to Bursa Malaysia's Query Letter - Reference IDYL-121029-37487
SubjectPETRA ENERGY BERHAD ("PENERGY" or "the Company")
- Provision of Offshore Services Contract (OSC) for Gumusut-Kakap Development
DescriptionPETRA ENERGY BERHAD ("PENERGY" or "the Company")
- Provision of Offshore Services Contract (OSC) for Gumusut-Kakap Development
Query Letter Contents We refer to your announcement dated 25 October 2012 in respect of the
abovementioned matter.

In this regard, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-

1. The value of Contract.
2. The tenure of Contract.
3. Whether the Contract is renewable. If so, for how many years.
4. The effects of the Contract on the earnings per share, net assets per share
and gearing of the Petra Energy Berhad group.
5. Whether the directors and/or major shareholders and/or persons connected
with a director or major shareholder have any interest, direct or indirect, in
the Contract, and the nature and extent of their interests.
6. The risks in relation to the Contract.

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/YLS
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)
Further to the announcement dated 25 October 2012 (“Initial Announcement”), we set out below the additional information requested by Bursa Malaysia Securities Berhad vide its letter dated 30 October 2012.
1. The value of the contract.
      Petra Resources Sdn Bhd (“PRSB”) has yet to determine the total value of the contract since the Contract is on a 'call-out' basis whereby workorders will be issued at the discretion of the client based on a standard schedule of rates during the duration of the Contract.
2. The tenure of Contract.
      The Contract is for a firm thirty (30) months effective from 18 October 2012.
3. Whether the Contract is renewable. If so, for how many years.
      The contract is not renewable.
4. The effects of the Contract on the earnings per share, net assets per share and gearing of the PENERGY group.
      The Contract is expected to contribute positively to the earnings per share and net assets of PENERGY Group for the duration of the Contract. The gearing of PENERGY Group is not expected to be effected by the Contract.

5. Whether the directors and/or major shareholders and/or persons connected with a director or major shareholder have any interest, direct and indirect, in the contract, and the nature and extent of their interest.
      None of the directors and/or major shareholders and/or persons connected with a director or major shareholder have any interest, direct or indirect, in the Contract.

6. The risks in relation to the contract.

      Operation risk
      (i) It is inherent that in every projects having an adequate skilled manpower and materials as critical essence in ensuring the smoothness towards project completion. Inadequate skilled manpower and material resources will have a material impact in delivering the project performance. As the Company has throughout the years established its track record and expertise to undertake such contracts, these risk has been managed and mitigated by having a structured and robust manpower planning for the project execution and to manage the procurement activities of materials in an efficient and effective manner as early as at the planning stage. These activities are mainly to minimise the likelihood of the risk to happen which can jeopardise the project performance in terms of quality, timeline and reputation. The bottom line, these measures are also taken to prevent unnecessary cost incurred to rectify and troubleshoot any loopholes due to improper manpower and resources planning at early stage. Thus, we wished to minimise adverse financial impact should the risks happen during upon project completion.
      (ii) As for the operational project risk assessment, we are to conduct in assessing the risk areas and exposure associated with the project. These mainly to identify risks and to set proactive mitigation plans which to be monitored on continuous basis by project team. We wished to minimise any operational interruptions to the projects execution and implementation which can be hinder with robust project risk management plan in place prior the project. Thus, to maximise and optimise the resources and capabilities to deliver the project with given timeline, budget and quality specified by client.
Political, economic and regulatory risks
      Unfavourable changes in government policies, nationalisation and changes in interest rate or legislation but not limited to risk of war will have a significant impact towards our business and prospects. As such, we will manage these risk via close monitoring of Government’s long-term economic plan and to reap any opportunities on regulatory changes in the industry. Nevertheless, there can be no assurance that any changes to the political, economic and regulatory factors will not have a material and adverse effect on the business and prospect of our Group.
      In summary, since the work scope of the Contract is similar to the current work performed by PRSB, the Company believes that PRSB is able to mitigate the risks which include, but are not limited to, execution risks such as availability of skilled manpower and materials, changes in cost of manpower and services as well as external factors such as weather condition.

This announcement is dated 9 November 2012.


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