Company announcements: GUNUNG

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

Announcement Type: General Announcement

Company Name	GUNUNG CAPITAL BERHAD
Stock Name	GUNUNG
Date Announced	17 Feb 2014
Category	General Announcement
Reference No	CG-140217-B0946

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	AQUISITION OF A 25% EQUITY STAKE IN BAS RAKYAT SDN BHD BY WHOLLY OWNED SUBSIDAIRY GPB CORPORATION SDN BHD
The Board of Directors of Gunung Capital Bhd (“Gunung or the Company”) wishes to announce its wholly owned subsidiary GPB Corporation Sdn Bhd (“GPB”) had on 17 February 2014 acquired seventy five thousand (75,000) ordinary shares of RM1.00 each in Bas Rakyat Sdn Bhd (“Bas Rakyat”) from The Perak State Secretary Incorporated (“SSI”) representing 25% of the issued and paid-up capital in Bas Rakyat, for a cash consideration of RM1 only. The total issued and paid-up capital of Bas Rakyat stands at 300,000 ordinary shares of RM1.00 each. GPB now owns three hundred thousand (300,000) ordinary shares of RM1.00 each in Bas Rakyat which represents 100% of the issued and paid-up capital in Bas Rakyat. Bas Rakyat principal business is chartering of, and operating of, passenger transportation assets, namely public bus services. Bas Rakyat announced on 3 November 2010, that it entered into a contract with the State Government of Perak for Bas Rakyat to operate a public bus service in the district of Manjung, state of Perak, with eighteen (18) units of new buses covering seven (7) routes identified by the State Government of Perak for seven (7) years (“Contract”). Bas Rakyat commenced operations pursuant to the Contract on 1 August 2011. The above acquisition is not expected to have any material effect on the earnings, net assets, share capital and major shareholding of Gunung for the financial year ending 31 December 2014. The above acquisition does not require the approval of shareholders of the Company or any other Government authorities. None of the Directors, and/or major shareholders or person connected to the Directors and/or major shareholders has any interest, whether direct or indirect, in the above acquisition. This announcement is dated 17 February 2014.

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