June 17, 2010

Company announcements: UMSNGB, FAVCO, RESINTC, VASTALX, HANDAL, DIALOG, SCOMIEN

UMSNGB - Notice of Shares Buy Back - Immediate Announcement

Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: UMS-NEIKEN GROUP BERHAD
Stock Name: UMSNGB
Date Announced: 16/06/2010

Announcement Detail:
Date of buy back: 16/06/2010

Description of shares purchased: ORDINARY SHARES OF RM0.50 EACH

Currency: Malaysian Ringgit (MYR)

Total number of shares purchased (units): 1,000

Minimum price paid for each share purchased ($$): 0.305

Maximum price paid for each share purchased ($$): 0.310

Total consideration paid ($$): 323.10

Number of shares purchased retained in treasury (units): 1,000

Number of shares purchased which are proposed to be cancelled (units): 0

Cumulative net outstanding treasury shares as at to-date (units): 1,000

Adjusted issued capital after cancellation (no. of shares) (units): 0

Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.00


FAVCO - FAVCO-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")

Announcement Type: Listing Circular
Company Name: FAVELLE FAVCO BERHAD
Stock Name: FAVCO
Date Announced: 16/06/2010

Announcement Detail:
Subject: FAVCO-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")

Contents: Kindly be advised that the abovenamed Company's additional 40,000 new ordinary shares of RM0.50 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Friday, 18 June 2010.


RESINTC - General Announcement

Announcement Type: General Announcement
Company Name: RESINTECH BERHAD
Stock Name: RESINTC
Date Announced: 16/06/2010

Announcement Detail:
Type: Announcement

Subject: RESINTECH BERHAD ("Resintech" or "the Company")
-DISPOSAL OF CONSTRUCTION OF WAREHOUSE BY A WHOLLY-OWNED SUBSIDIARY COMPANY ("Disposal")

Contents: 1.0 INTRODUCTION

The Board of Directors of Resintech wishes to announce that Resintech Plastics (M) Sdn Bhd (110562-P)"(RPSB"), a wholly-owned subsidiary of Resintech, had on 14th June 2010 consented for Modern Storage Sdn Bhd (436278-P)(MSSB") to facilitate RPSB to dispose the parcel of construction work in progress erected on the piece of land owned by MSSB to Megatrax Plastic Industries Sdn Bhd for the consideration price of RM8,407,971.72.

2.0 DETAILS OF THE DISPOSAL

2.1 Information on the disposal

The Disposal of the Constructed Warehouse which is still work in progress was erected on the parcel of land under the individual title PN80461,
Lot 593 Seksyen 3 (formerly known as HS(D) 23425, PT 338), Bandar Telok Panglima Garang, Daerah Kuala Langat, Negeri Selangor measuring approximately 39116 square metres, which is owned by MSSB. The construction of the warehouse on the said land is with the consent from MSSB to RPSB to construct the warehouse at no rental payment or any other consideration to be paid to MSSB.

Modern Storage Sdn Bhd is a company incorporated in Malaysia with Company number 436278-P having its registered address and principal place of business at Lot 3 & 5, Jalan Waja 14, Kawasan Perindustrian Telok Panglina Garang, 42500 Telok Panglima Garang, Selangor Darul Ehsan.


2.2 Date and Original Cost of Investment

The book value of the Investment in the audited financial statements of Resintech Berhad for the year ended 28 February 2009 is RM7,593,593.48.


2.3 Liabilities to be assumed by the Purchaser

There are no other liabilities to be assumed by the Purchaser in the Proposed Disposal.

2.4 Information on Purchaser

Megatrax Plastic Industries Sdn Bhd (338830-W) ("MPISB"), a company incorporated in Malaysia with its place of business at Lot 096 Jalan Udang Gantung, Kampung Telok Gong, 42000 Port Klang, Selangor Darul Ehsan.

Megatrax Plastic Industries Sdn Bhd had entered into a Sale and Purchase Agreement ("the Agreement") with MSSB to purchase the parcel of leasehold land under the individual title PN80461, Lot593 Seksyen 3 (formerly known as HS(D) 23425, PT 338), Bandar Telok Panglima Garang, Daerah Kuala Langat, Negeri Selangor measuring approximately 39116 square metres with the industrial structures erected thereon (inclusive of the Disposal) at a total purchase price of Ringgit Malaysia Fourteen Million and Two Hundred Thousand Only.(RM14,200,000.00).


2.5 Basis of arriving at the Total Consideration

The total consideration of RM8,407,971.72 for the Disposal has been determined at the Market Value based on the cost incurred by RPSB.

2.6 Salient features of the Agreement

The sale consideration of Ringgit Malaysia Fourteen Million and Two Hundred Thousand (RM14,200,000.00) of the land with the industrial structures erected thereon shall be satisfied by MPISB in cash in the following manner:-

(a) Deposit of Ringgit Malaysia One Million Four Hundred Twenty Thousand Only (RM1,420,000.00);

(b) the balance purchase price of Ringgit Malaysia Twelve Million Seven Hundred and Eighty Thousand Only (RM12,780,000.00) shall be paid on the completion date which is not later than three (3) months from the Unconditional Date.


3.0 RATIONALE FOR THE DISPOSAL

The Disposal will reduce the need for the Group to have unused warehouses and furthermore, the Company has put up various warehouses which are nearer to customers.

4.0 FINANCIAL EFFECTS

4.1 Share Capital and Substantial Shareholders' Shareholding

The Disposal will not have any effect on the share capital and substantial shareholders' shareholding in the Company.

4.2 Earnings per Share

The Disposal is not expected to have any material effect on the earnings per share of Resintech Group.

4.3 Net Asset per Share

The Disposal is not expected to have any material effect on the net assets of Resintech Group.

4.4 Gearing

The Disposal is not expected to have any material effect on the gearing of Resintech Group for the financial year ending 29 February 2011.


5.0 PROPOSED UTILISATION OF SALE PROCEEDS

The Proposed utilization of Sale of the Disposal would be used for working capital requirement.


6.0 APPROVALS REQUIRED

The Disposal is not subject to the approval of the shareholders of the Company.
However, the disposal is subject to consent from Perbadanan Kemajuan Negeri Selangor on the Disposal of land between MSSB and MPISB.


7.0 DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

To the best knowledge of the Company and its Board, none of the directors and/or major shareholders of the Company and/or persons connected with them, have any interest, direct or indirect in the Proposed Disposal.


8.0 ESTIMATED TIMEFRAME FOR COMPLETION OF THE DISPOSAL

Subject to all conditions precedents to the Disposal being complied with, the Disposal is expected to be completed by financial ending 29 February 2011.


9.0 DIRECTORS' STATEMENT

The Board of Directors of Resintech, is of the opinion that the Disposal is fair and reasonable and is in the best interest of Resintech Group and its shareholders.

This announcement is dated 16th June 2010.


VASTALX - General Announcement

Announcement Type: General Announcement
Company Name: VASTALUX ENERGY BERHAD
Stock Name: VASTALX
Date Announced: 16/06/2010

Announcement Detail:
Type: Reply to query

Reply to Bursa Malaysia's Query Letter - Reference ID: NM-100615-35034

Subject: VASTALUX ENERGY BERHAD ("VEB" or "the Company")
-Advertisement of Winding-Up Petition in the matter of Vastalux Sdn. Bhd.("VSB") between Kuala Lumpur Valve And Fitting (M) Sdn. Bhd and VSB

Contents: We refer to the query from Bursa Malaysia Securities Berhad dated 15 June 2010.

The Company wishes to inform that Kuala Lumpur Valve and Fitting (M) Sdn. Bhd. ("the Petitioner") has filed a Winding up Petition no. D-28NCC-367-2010 dated 17 May 2010 on VSB.

VSB received the Winding Up Petition on 1 June, 2010.

The Petition is scheduled to be heard at the Kuala Lumpur High Court of Malaya on 19 August 2010.

The Winding Up Petition is in respect of the claim for Ringgit Malaysia Five Hundred Sixteen Thousand and Four and Cents Seventy Nine Only (RM516,004.79) being the outstanding sum due for supply of material calculated as at 7 January 2010 until the proceedings takes place. The Petitioner has alleged that VSB has failed or unable to pay the outstanding amount. There is no interest in the claim.

The Winding up Petition was filed on VSB as both parties could not reach an amicable settlement arrangement following negotiations.

VSB is a major subsidiary of the Company and the total cost of investment is RM19.9 million.

The Company does not expect any further losses as the amount claimed has been provided for in the accounts for the financial year ended 31 December 2009.

The Company does not foresee any financial and operational impact resulting from the Winding Up Petition as the amount claimed has been provided for in the accounts for the financial year ended 31 December 2009 and in addition a RO has been obtained.

The Company is in consultation with its solicitors towards the next course of action to be taken as the Company had on 7 April 2010 obtained a restraining order restraining any legal actions against the Company for a period of 90 days from 7 April 2010 and the possible settlement of the amount claimed by the Petitioner.

Query Letter content: We refer to the Notice of Winding-Up Petition, appearing in New StraitsTimes,
NST1klassifieds section, page C10, on Tuesday, 15 June 2010, a copy of which is
enclosed for your reference.
In this connection, kindly furnish the Exchange immediately with the following
information for public release:-
1.The date of the presentation of the winding-up petition and the date the
winding-up petition was served on VSB;
2.The particulars of the claim under the petition, including the amount claimed
for under the petition and the interest rate;
3.The details of the default or circumstances leading to the filing of the
winding-up petition against VSB;
4.Whether VSB is a major subsidiary;
5.The total cost of investment in VSB;
6.The financial and operational impact of the winding-up proceedings on the
group;
7.The expected losses, if any, arising from the winding-up proceedings; and
8.The steps taken and proposed to be taken by your Company in respect of the
winding-up proceedings.

Yours faithfully



TAN YEW ENG
Head,Issuers
Listing Division
Regulation

TYE / NMA
c.c.Head, Market Surveillance Department, Securities Commission (via fax)


HANDAL - General Announcement

Announcement Type: General Announcement
Company Name: HANDAL RESOURCES BERHAD
Stock Name: HANDAL
Date Announced: 16/06/2010

Announcement Detail:
Type: Announcement

Subject: HANDAL RESOURCES BERHAD ("HRB" or "the Company")
-Outcome of Second Annual General Meeting ("AGM") Held on 16 June 2010

Contents: The Board of Directors of HRB wishes to announce that all the resolutions tabled at the 2nd AGM held today were unanimously passed by the shareholders present.

This announcement is dated 16 June 2010


HANDAL - Change in Audit Committee

Announcement Type: Change in Audit Committee
Company Name: HANDAL RESOURCES BERHAD
Stock Name: HANDAL
Date Announced: 16/06/2010

Announcement Detail:
Date of change: 16/06/2010

Type of change: Retirement

Designation: Chairman of Audit Committee

Directorate: Independent & Non Executive

Name: MOHD RAFIK BIN SHAH MOHAMAD

Age: 59

Nationality: Malaysian

Qualifications: Encik Mohd Rafik bin Shah Mohamad is a qualified Chartered Accountant from the Malaysian Institute of Accountants and retired member of the Chartered Association of Certified Accountants, United Kingdom.

Working experience and occupation: Encik Mohd Rafik bin Shah Mohamad commenced his career as an Analyst with Esso Malaysia Berhad in 1973, before joining Nestle in 1981. He has held senior finance positions in various local companies. Spanning over a period of twenty-five (25) years, he has held several significant positions in the Nestle group of companies in Malaysia and other countries. His last position was the Executive Vice President and Chief Financial Officer of Nestle Indonesia.

Directorship of public companies (if any): Nestle (Malaysia) Berhad
Malaysian Agrifood Corp Berhad
Biotropics Malaysia Behrad

Family relationship with any director and/or major shareholder of the listed issuer: Nil

Any conflict of interests that he/she has with the listed issuer: Nil

Details of any interest in the securities of the listed issuer or its subsidiaries: Nil

Composition of Audit Committee (Name and Directorate of members after change): Chau Sik Cheong (Member) - Independent Non- Executive Director
Lokman Razani Bin Abdul Razak (Member) - Independent Non- Executive Director

Remarks: Encik Mohd Rafik bin Shah Mohamad 's retirement is pursuant to his retirement at the Annual General Meeting of the Company duly held on 16 June 2010. The Company is in the process of identifying a new member of Audit Committee to comply with Paragraph 15.09 of the Listing Requirements of Bursa Malaysia Securities Berhad.


HANDAL - Change in Boardroom

Announcement Type: Change in Boardroom
Company Name: HANDAL RESOURCES BERHAD
Stock Name: HANDAL
Date Announced: 16/06/2010

Announcement Detail:
Date of change: 16/06/2010

Type of change: Retirement

Designation: Non-Executive Director

Directorate: Independent & Non Executive

Name: MOHD RAFIK BIN SHAH MOHAMAD

Age: 59

Nationality: Malaysian

Qualifications: Encik Mohd Rafik bin Shah Mohamad is a qualified Chartered Accountant from the Malaysian Institute of Accountants and retired member of the Chartered Association of Certified Accountants, United Kingdom.

Working experience and occupation: Encik Mohd Rafik bin Shah Mohamad commenced his career as an Analyst with Esso Malaysia Berhad in 1973, before joining Nestle in 1981. He has held senior finance positions in various local companies. Spanning over a period of twenty-five (25) years, he has held several significant positions in the Nestle group of companies in Malaysia and other countries. His last position was the Executive Vice President and Chief Financial Officer of Nestle Indonesia.

Directorship of public companies (if any): Nestle (Malaysia) Berhad
Malaysian Agrifood Corp Berhad
Biotropics Malaysia Behrad

Family relationship with any director and/or major shareholder of the listed issuer: Nil

Any conflict of interests that he/she has with the listed issuer: Nil

Details of any interest in the securities of the listed issuer or its subsidiaries: Nil


DIALOG - 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: DIALOG GROUP BERHAD
Stock Name: DIALOG
Date Announced: 16/06/2010

Announcement Detail:
Date of buy back from: 07/06/2010

Date of buy back to: 11/06/2010

Currency: Malaysian Ringgit (MYR)

Total number of shares purchased (units): 3,006,000

Minimum price paid for each share purchased ($$): 1.040

Maximum price paid for each share purchased ($$): 1.060

Total amount paid for shares purchased ($$): 3,167,243.78

The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad

Number of shares purchased retained in treasury (units): 3,006,000

Total number of shares retained in treasury (units): 14,381,271

Number of shares purchased which were cancelled (units): 0

Total issued capital as diminished: 0

Date lodged with registrar of companies: 16/06/2010

Lodged by: Dialog Group Berhad


DIALOG - Notice of Shares Buy Back - Immediate Announcement

Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: DIALOG GROUP BERHAD
Stock Name: DIALOG
Date Announced: 16/06/2010

Announcement Detail:
Date of buy back: 16/06/2010

Description of shares purchased: Ordinary shares of RM0.10 each

Currency: Malaysian Ringgit (MYR)

Total number of shares purchased (units): 582,800

Minimum price paid for each share purchased ($$): 1.050

Maximum price paid for each share purchased ($$): 1.060

Total consideration paid ($$): 619,176.33

Number of shares purchased retained in treasury (units): 582,800

Number of shares purchased which are proposed to be cancelled (units): 0

Cumulative net outstanding treasury shares as at to-date (units): 15,974,071

Adjusted issued capital after cancellation (no. of shares) (units): 0

Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.81


SCOMIEN - Additional Listing Announcement

Announcement Type: Additional Listing Announcement (ALA)
Company Name: SCOMI ENGINEERING BHD
Stock Name: SCOMIEN
Date Announced: 16/06/2010

Announcement Detail:
Whether the corporate proposal involves the issuance of new type and new class of securities?: No

Types of corporate proposal: Others

Details of corporate proposal: Conversion of Irredeemable Convertible Unsecured Loan Stocks ("ICULS")

No. of shares issued under this corporate proposal: 114,000

Issue price per share ($$): MYR 1.000

Par Value ($$): MYR 1.000

Units: 278,090,909

Currency: MYR 278,090,909.000

Listing Date: 17/06/2010



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