IRIS - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS
| Company Name | IRIS CORPORATION BERHAD (ACE Market) |
| Stock Name | IRIS |
| Date Announced | 20 Jan 2015 |
| Category | General Announcement |
| Reference No | IC-150120-63807 |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | EXECUTION OF A TEAMING AGREEMENT BETWEEN IRIS CORPORATION BHD (“THE COMPANY”) AND TECHNOLOGY PARK MALAYSIA CORPORATION SDN. BHD. (“TPM”) TO ESTABLISH A JOINT VENTURE FOR THE PROPOSED RESIDENTIAL DEVELOPMENT IN PHASE 3, TPM FOR AN INITIAL ESTIMATED INVESTMENT SUM OF RINGGIT MALAYSIA ONE HUNDRED AND THIRTY MILLION.(RM130,000.000) |
EXECUTION OF A TEAMING AGREEMENT BETWEEN IRIS CORPORATION BHD (“THE COMPANY”) AND TECHNOLOGY PARK MALAYSIA CORPORATION SDN. BHD. (“TPM”) TO ESTABLISH A JOINT VENTURE FOR THE PROPOSED RESIDENTIAL DEVELOPMENT IN PHASE 3, TPM FOR AN INITIAL ESTIMATED INVESTMENT SUM OF RINGGIT MALAYSIA ONE HUNDRED AND THIRTY MILLION.(RM130,000.000) 1. INTRODUCTION The Board of Directors of IRIS Corporation Berhad (“ICB” or “the Company”) wishes to inform that the Company has on 20th January, 2014 entered into a Teaming Agreement (“Agreement”) with Technology Park Malaysia Corporation Sdn. Bhd. (“TPM”) to form a strategic collaboration with each other by combining their respective expertise and resources to jointly participate in developing, constructing and managing a proposed residential development project on a parcel of land in Phase 3 TPM Bukit Jalil through an entity to be agreed (“the SPV). (“the Project”). The Company proposes to invest in an initial investment sum estimated at Ringgit Malaysia One Hundred Thirty Million (RM130,000,000) for the implementation of the first phase of the Project. The estimated investment sum will be utilized for the Project subject to and conditional upon the procurement of all approvals, fulfilment of conditions precedents and terms and conditions under the Agreement. 2. INFORMATION ON TPM TPM is a wholly owned Government company incorporated on 10th February 1996. TPM is an agency under the purview of the Ministry of Science, Technology and Innovation (MOSTI) and principally involved in providing a comprehensive technopreneur and enterpreneurship programmes for industry clusters in ICT, biotechnology and life sciences and providing advance engineering, ICT and incubation services. TPM is the beneficial owner of parcels of Land in TPM Bukit Jalil.
3. CONTENTS OF THE TEAMING AGREEMENT The salient terms of the Teaming Agreement inter alia are as follows:-
3.1 Term The Agreement shall be valid and enforceable for a period of one (1) year commencing from the date of the Agreement (“Term”) and shall terminate upon the expiry of the Term (or its extension) or upon the execution of the JVA, whichever come first.
3.2 The Collaboration Under the proposed collaboration, the parties principally agree to set up a joint venture entity in the form of a Limited Liability Partnership or the “SPV” in the proportion of their respective contributions in the Project. The terms and conditions governing the relationship between the parties in relation to their shareholding and relationship as partners in the SPV and the execution of the Project shall be as set out in a Joint Venture Agreement (“JVA”) to be entered into between the parties on terms and conditions to be mutually agreed, including but not limited, to the following principles and terms:
3.3 The Joint Venture : (a) TPM as the beneficial owner of the land shall contribute a parcel of land measuring approximately 28.89 acres held under PT No. 13830, Mukim Petaling, Wilayah Persekutuan (hereinafter referred to as “the said Land”), to be developed into the Project. TPM shall sub-lease the said Land to the SPV on terms and condition and at nominal consideration for the purpose of the Project.
(b) IRIS shall play the role of investor, contractor and developer and shall inject and provide the investment to construct, develop, complete and manage the Project at its own costs and expenses. 3.4 The Conditions Precedent The parties agree that the JVA shall be subject to the fulfilment of the following Conditions Precedent within six (6) months from the date of the JVA or such extended period as may be mutually agreed upon by both parties:-
3.5 In consideration of the collaboration, TPM and IRIS mutually agree that the return from the Collaboration shall be based on the SPV’s profit sharing as set out in Clause 3 of the Agreement.
4. RATIONALE OF THE AGREEMENT The entering into the Agreement and the Project is to enable the ICB Group to expand its business by constructing residential accommodations (including but not limited to town houses and hostels) and high rise apartments using the IRIS-KOTO Industrial Building System (IBS) for the benefit of students studying in the existing and proposed to be established universities and/or colleges and employees of tenant companies situated in the premises of TPM. This Project will further synergize the efforts of the Company and TPM in creating a holistic technology educational hub proposed to be established in TPM Bukit Jalil.
5. RISK FACTORS Like all business entities, risk factors involved in this Project include but are not limited to execution risks, such as business expansion, prudent financial management, changes in price materials, economics and regulatory conditions. In addition like all new ventures there is also no definitive assurance that the anticipated benefits from the Agreement will be realized expeditiously however the Company is encouraged that will be able to generate sufficient revenue from the Project to off-set the associated cost.
Nevertheless the Board of Directors has and will continue to exercise due care in considering the risks and benefits associated with this Agreement and will take appropriate measures in planning the successful implementation of the Project with its current business operations. Further, the Group is committed towards the close monitoring of the development of the Project. 6. FINANCIAL EFFECTS ON THE AGREEMENT The Project is not expected to have any effect on the issued and paid-up capital, substantial shareholders’ shareholding, net assets per share and gearing of the ICB Group for the financial year ending on 31st March 2015. Barring unforeseen circumstances, the Board is of the opinion that the Project will contribute positively to the earnings of the ICB Group in the future.
7. SOURCE OF FUNDS The proposed Project will be financed through internally generated funds and bank borrowings.
8. APPROVALS REQUIRED This Agreement does not require the approval of the Company’s shareholders or any relevant government authority however the Company wishes to declare that such shareholder’s approval and other requirements under Section 10.07 of the ACE Listing Requirements will be obtained by the Company in the event the investment sums exceed the ratios stipulated.
9. DIRECTORS AND MAJOR SHARE HOLDERS INTERESTS None of the directors, major shareholders, and persons connected with the directors or major shareholders of the Company or any of its subsidiaries have any interest, direct or indirect, in the Project.
10. STATEMENT OF THE BOARD OF DIRECTORS The Board of Directors of the Company, after taking into consideration all aspects of the proposed Teaming Agreement (including but not limited to the rationale, prospects and financial effects of the Teaming Agreement) is of the opinion that the Agreement is fair, reasonable and is in the best interest of the Company’s group.
11. PERCENTAGE RATIO The highest percentage ratio applicable to the investment under the Agreement pursuant to Chapter 10 of the ACE Market Listing Requirements is 23.63%.
11 DOCUMENT FOR INSPECTION The Agreement shall be available for inspection at the registered office of ICB during office hours at Level 18, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra , 59200 Kuala Lumpur for a period of three (3) months from the date of this announcement. This announcement is dated 20th January, 2015.
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IFCAMSC - OTHERS News Release-THE EDGE Financial Daily for Group dividend policy
| Company Name | IFCA MSC BERHAD (ACE Market) |
| Stock Name | IFCAMSC |
| Date Announced | 20 Jan 2015 |
| Category | General Announcement |
| Reference No | IM-150120-54258 |
| Type | Announcement |
| Subject | OTHERS |
| Description | News Release-THE EDGE Financial Daily for Group dividend policy |
Reference is made to the article published in THE EDGE Financial Daily 19 January 2015 for the IFCA MSC Berhad (IFCA) group dividend policy. The Board of Directors ("Board") of IFCA wishes to clarify that the Company is looking at establishing a dividend policy with the payout ratio of 20% to 30% of its net profit for the year and is seeking Board's approval for the proposed quantum from 20% to 30%. Once the Board's approval has been obtained, an immediate announcement on the details of the dividend policy will be made. The Board is expecting to conclude the Group dividend policy in February 2015. This announcement is dated 20 January 2015. | |
REDTONE - Quarterly rpt on consolidated results for the financial period ended 30/11/2014
| Company Name | REDTONE INTERNATIONAL BERHAD (ACE Market) |
| Stock Name | REDTONE |
| Date Announced | 20 Jan 2015 |
| Category | Financial Results |
| Reference No | CK-150120-49224 |
| Financial Year End | 31/05/2015 |
| Quarter | 2 |
| Quarterly report for the financial period ended | 30/11/2014 |
| The figures | have not been audited |
- Default Currency
- Other Currency
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION30/11/2014 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 44,807 | 30,454 | 78,978 | 66,564 |
| 2 | Profit/(loss) before tax | 5,528 | 7,055 | 10,540 | 11,711 |
| 3 | Profit/(loss) for the period | 4,661 | 5,898 | 9,126 | 10,056 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 5,295 | 6,044 | 9,725 | 9,693 |
| 5 | Basic earnings/(loss) per share (Subunit) | 1.04 | 1.20 | 1.91 | 1.92 |
| 6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 0.00 | 1.10 | 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 ($$) | 0.2980 | 0.2694 | ||
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
| Country | Base Unit | Subunit |
| Malaysia | Ringgit | Sen |
| United States | Dollar | Cent |
| United Kingdom | Pound | Pence |
UOAREIT - Quarterly rpt on consolidated results for the financial period ended 31/12/2014
| Company Name | UOA REAL ESTATE INVESTMENT TRUST |
| Stock Name | UOAREIT |
| Date Announced | 20 Jan 2015 |
| Category | Financial Results |
| Reference No | CC-150119-53246 |
| Financial Year End | 31/12/2014 |
| Quarter | 4 |
| Quarterly report for the financial period ended | 31/12/2014 |
| The figures | have not been audited |
- Default Currency
- Other Currency
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION31/12/2014 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 24,202 | 21,633 | 90,387 | 86,438 |
| 2 | Profit/(loss) before tax | 13,005 | 10,919 | 47,518 | 46,335 |
| 3 | Profit/(loss) for the period | 14,603 | 9,359 | 49,116 | 44,775 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 14,603 | 9,359 | 49,116 | 44,775 |
| 5 | Basic earnings/(loss) per share (Subunit) | 3.45 | 2.21 | 11.61 | 10.59 |
| 6 | Proposed/Declared dividend per share (Subunit) | 3.28 | 2.85 | 11.00 | 10.67 |
AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 1.5030 | 1.4968 | ||
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:
| Country | Base Unit | Subunit |
| Malaysia | Ringgit | Sen |
| United States | Dollar | Cent |
| United Kingdom | Pound | Pence |
CMMT - Quarterly rpt on consolidated results for the financial period ended 31/12/2014
| Company Name | CAPITAMALLS MALAYSIA TRUST |
| Stock Name | CMMT |
| Date Announced | 20 Jan 2015 |
| Category | Financial Results |
| Reference No | CG-150119-88C34 |
| Financial Year End | 31/12/2014 |
| Quarter | 4 |
| Quarterly report for the financial period ended | 31/12/2014 |
| The figures | have not been audited |
- Default Currency
- Other Currency
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION31/12/2014 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
| 1 | Revenue | 80,292 | 78,802 | 315,395 | 305,104 |
| 2 | Profit/(loss) before tax | 57,575 | 41,850 | 236,355 | 229,660 |
| 3 | Profit/(loss) for the period | 57,575 | 41,850 | 236,355 | 229,660 |
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent | 57,575 | 41,850 | 236,355 | 229,660 |
| 5 | Basic earnings/(loss) per share (Subunit) | 3.24 | 2.36 | 13.31 | 12.98 |
| 6 | Proposed/Declared dividend per share (Subunit) | 2.26 | 2.24 | 8.91 | 8.85 |
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 ($$) | 1.2420 | 1.1974 | ||
| Remarks : |
| Final income distribution of 4.38 sen per unit (of which 4.24 sen per unit is taxable and 0.14 sen is non-taxable in the hands of unitholders) for the period from 1 July 2014 to 31 December 2014 is announced on 20 January 2015. |
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:
| Country | Base Unit | Subunit |
| Malaysia | Ringgit | Sen |
| United States | Dollar | Cent |
| United Kingdom | Pound | Pence |
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