IRIS - General Announcement
Announcement Type: General Announcement
Company Name: IRIS CORPORATION BERHAD (ACE Market)
Stock Name: IRIS
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: IRIS CORPORATION BERHAD ("ICB" OR THE "COMPANY")
MEMORANDUM OF UNDERSTANDING BETWEEN IRIS ECO POWER SDN BHD AND THE GOVERNMENT OF THE REPUBLIC OF SENEGAL ("MOU")
Contents: 1. INTRODUCTION
The Board of Directors of ICB ("Board") is pleased to announce that IRIS Eco Power Sdn Bhd ("IEP"), being a subsidiary of ICB Group had on 5 July 2010, entered into a MOU with the Ministry of Public Hygiene and Living Environment of the Government of the Republic of Senegal ("GRS") in relation to the mutual covenant understanding of the collaboration between IEP and GRS towards the conduct of feasibility studies and the presentation of proposals by IEP for the development and implementation of these following projects:-
(a) Development and construction of a waste-to-energy facility for the disposal of municipal solid waste ("MSW") and the production of electricity from MSW for sale to the Senegal National Electricity Corporation; and
(b) Waste management and garbage collection for the city of Dakar and all the major cities of Senegal.
The above-mentioned projects are collectively referred to as the "Projects".
2. SALIENT TERMS OF THE MOU
The salient terms of the MOU are as follows:-
(a) IEP will conduct feasibility studies on the Projects and within a period of six (6) months from 5 July 2010 (being the date of the MOU), IEP needs to present a comprehensive proposal comprising a technical report, a project development model based on public private partnership, a road map for implementation and a financing proposal; and
(b) IEP shall bear the cost of the feasibility study.
3. RATIONALE OF THE MOU
The MOU forms the basis of a collaboration between IEP and GRS to promote the mutual covenant understanding and for IEP to deploy its environmental technologies.
4. RISKS FACTORS
4.1 Business Risk
Like all business entities, risk factors affecting the MOU include but are not limited to execution risks, such as prudent financial management and changes in political, economic and regulatory conditions. In addition, there is also no assurance that the anticipated benefits from the MOU will be realised to offset the associated cost.
Nevertheless, the Board has and will continue to exercise due care in considering the risks and benefits associated with the MOU and will take appropriate measures in planning the successful integration of the MOU with its current business operations. Further, ICB Group are committed towards the close monitoring of the development of the MOU in order to minimise any implementation issues or delays.
4.2 Political, economic and regulatory considerations
Like all business entities, changes in political, economic and regulatory conditions in Senegal could materially and adversely affect the financial and business prospects for the ICB Group. Amongst the political, economic and regulatory uncertainties are the changes in nullification of existing sales orders and contracts, changes in interest rates and method of taxation and currency exchange rules and contracts.
The ICB Group may continue to take effective measures to mitigate such risks. However, there is no assurance that adverse economic, political and regulatory conditions will not materially affect the business activities of the ICB Group.
5. FINANCIAL EFFECTS OF THE MOU
The MOU is not expected to have any effect on the issued and paid-up share capital, substantial shareholders' shareholdings, net assets per share and gearing of the ICB Group for the financial year ending 31 December 2010. Barring unforeseen circumstances, the Board is of the opinion that the MOU will contribute positively to the earnings and earnings per share of the ICB Group in the future.
6. APPROVALS REQUIRED
The MOU does not require the approval of ICB's shareholders or any other relevant government authorities in Malaysia.
7. DIRECTORS AND/OR MAJOR SHAREHOLDERS' INTERESTS
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 MOU.
8. STATEMENT BY DIRECTORS
The Board, having considered all aspects of the MOU (including but not limited to the rationale and financial effects of the MOU), is of the opinion that the MOU is fair, reasonable and is in the best interest of the ICB Group.
9. DOCUMENT FOR INSPECTION
The MOU dated 5 July 2010 is available for inspection at the registered office of ICB during office hours from Monday to Friday (excluding public holiday) 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 8 July 2010.
Company Name: IRIS CORPORATION BERHAD (ACE Market)
Stock Name: IRIS
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: IRIS CORPORATION BERHAD ("ICB" OR THE "COMPANY")
MEMORANDUM OF UNDERSTANDING BETWEEN IRIS ECO POWER SDN BHD AND THE GOVERNMENT OF THE REPUBLIC OF SENEGAL ("MOU")
Contents: 1. INTRODUCTION
The Board of Directors of ICB ("Board") is pleased to announce that IRIS Eco Power Sdn Bhd ("IEP"), being a subsidiary of ICB Group had on 5 July 2010, entered into a MOU with the Ministry of Public Hygiene and Living Environment of the Government of the Republic of Senegal ("GRS") in relation to the mutual covenant understanding of the collaboration between IEP and GRS towards the conduct of feasibility studies and the presentation of proposals by IEP for the development and implementation of these following projects:-
(a) Development and construction of a waste-to-energy facility for the disposal of municipal solid waste ("MSW") and the production of electricity from MSW for sale to the Senegal National Electricity Corporation; and
(b) Waste management and garbage collection for the city of Dakar and all the major cities of Senegal.
The above-mentioned projects are collectively referred to as the "Projects".
2. SALIENT TERMS OF THE MOU
The salient terms of the MOU are as follows:-
(a) IEP will conduct feasibility studies on the Projects and within a period of six (6) months from 5 July 2010 (being the date of the MOU), IEP needs to present a comprehensive proposal comprising a technical report, a project development model based on public private partnership, a road map for implementation and a financing proposal; and
(b) IEP shall bear the cost of the feasibility study.
3. RATIONALE OF THE MOU
The MOU forms the basis of a collaboration between IEP and GRS to promote the mutual covenant understanding and for IEP to deploy its environmental technologies.
4. RISKS FACTORS
4.1 Business Risk
Like all business entities, risk factors affecting the MOU include but are not limited to execution risks, such as prudent financial management and changes in political, economic and regulatory conditions. In addition, there is also no assurance that the anticipated benefits from the MOU will be realised to offset the associated cost.
Nevertheless, the Board has and will continue to exercise due care in considering the risks and benefits associated with the MOU and will take appropriate measures in planning the successful integration of the MOU with its current business operations. Further, ICB Group are committed towards the close monitoring of the development of the MOU in order to minimise any implementation issues or delays.
4.2 Political, economic and regulatory considerations
Like all business entities, changes in political, economic and regulatory conditions in Senegal could materially and adversely affect the financial and business prospects for the ICB Group. Amongst the political, economic and regulatory uncertainties are the changes in nullification of existing sales orders and contracts, changes in interest rates and method of taxation and currency exchange rules and contracts.
The ICB Group may continue to take effective measures to mitigate such risks. However, there is no assurance that adverse economic, political and regulatory conditions will not materially affect the business activities of the ICB Group.
5. FINANCIAL EFFECTS OF THE MOU
The MOU is not expected to have any effect on the issued and paid-up share capital, substantial shareholders' shareholdings, net assets per share and gearing of the ICB Group for the financial year ending 31 December 2010. Barring unforeseen circumstances, the Board is of the opinion that the MOU will contribute positively to the earnings and earnings per share of the ICB Group in the future.
6. APPROVALS REQUIRED
The MOU does not require the approval of ICB's shareholders or any other relevant government authorities in Malaysia.
7. DIRECTORS AND/OR MAJOR SHAREHOLDERS' INTERESTS
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 MOU.
8. STATEMENT BY DIRECTORS
The Board, having considered all aspects of the MOU (including but not limited to the rationale and financial effects of the MOU), is of the opinion that the MOU is fair, reasonable and is in the best interest of the ICB Group.
9. DOCUMENT FOR INSPECTION
The MOU dated 5 July 2010 is available for inspection at the registered office of ICB during office hours from Monday to Friday (excluding public holiday) 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 8 July 2010.
IRIS - General Announcement
Announcement Type: General Announcement
Company Name: IRIS CORPORATION BERHAD (ACE Market)
Stock Name: IRIS
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: IRIS CORPORATION BERHAD ("ICB" OR THE "COMPANY")
MEMORANDUM OF UNDERSTANDING BETWEEN IRIS ECO POWER SDN BHD AND CAISSE DES DEPOTS ET CONSIGNATIONS, SENEGAL IN RELATION TO A JOINT VENTURE FOR THE DEVELOPMENT OF A SOCIAL HOUSING PROJECT IN THE BAMBILOR AREA ("MOU")
Contents: 1. INTRODUCTION
The Board of Directors of ICB ("Board") wishes to announce that IRIS Eco Power Sdn Bhd ("IEP"), being a subsidiary of ICB Group had on 5 July 2010, entered into a MOU with Caisse des Depots et Consignations ("CDC") to enter into a joint venture agreement for the development of a social housing project on a 150- hectare site in the area of Bambilor, Senegal ("Project").
2. SALIENT TERMS OF THE MOU
The salient terms of the MOU are as follows:-
(a) CDC and IEP shall, within a period of six (6) months from the MOU, jointly carry out and complete a comprehensive project feasibility study, which shall include the master plan for the Project, Project costings and the financial plan, the marketing plan and the Project implementation plan;
(b) Each party shall bear its own costs incurred with respect to the feasibility study subject to the total cost incurred by each party not exceeding Euro ("EUR") 100,000. Any amounts to be incurred in excess of EUR100,000 will have to be mutually agreed by both parties;
(c) Upon signing of the joint venture agreement at a later date, the cost of the feasibility study shall be passed to the joint venture company ("JVCO");
(d) Should the joint venture be aborted, CDC shall reimburse IEP on the costs incurred, which will be supported by actual invoices and the feasibility study shall become the property of CDC;
(e) The conduct of feasibility study of the Project is the responsibility of IEP;
(f) The other terms of the joint venture:-
(i) The equity shareholdings shall be as follows:-
�?� CDC: 51%
�?� IEP: 49%;
(ii) The JVCO shall be capitalized at EUR100,000;
(iii) The JVCO shall build a minimum of 1,000 houses within one (1) year of the completion of the feasibility study and complete the entire project on the 150-hectare site within five (5) years;
(iv) CDC shall procure the 150-hectare site and sell the land to the JVCO in stages, based on the valuation of a qualified valuer, as the development and construction of the project progresses;
(v) IEP shall be responsible for the construction management of the project. CDC shall be responsible for mobilising the financing for the Project;
(vi) The cost of the construction of the public buildings (mosque, school and health centre) shall be estimated and agreed by both parties and incorporated into the cost of the project; and
(g) A joint venture agreement shall be concluded between the two parties within three (3) months after the completion and acceptance of the recommendations of the feasibility study. The announcement of the joint venture agreement will be made in due course.
3. RATIONALE OF THE MOU
The proposed joint venture with CDC to form a JVCO for the development of a social housing project is a new business segment that the Company intends to venture into. This new business segment will provide an additional source of revenue for the ICB group.
4. RISK FACTORS
4.1 Business risk
Like all business entities, risk factors affecting the MOU include but are not limited to execution risks such as business expansion, prudent financial management, changes in price materials and changes in political, economic and regulatory conditions. In addition, there is also no assurance that the anticipated benefits from the MOU will be realised, and that the ICB Group will be able to generate sufficient revenue from the MOU to offset the associated cost.
Nevertheless, the Board has and will continue to exercise due care in considering the risks and benefits associated with the MOU and will take appropriate measures in planning the successful integration of the MOU with its current business operations. Further, the ICB Group is committed towards the close monitoring of the development of the MOU in order to minimise any implementation issues or delays.
4.2 Political, economic and regulatory considerations
Like all business entities, changes in political, economic and regulatory conditions in Senegal could materially and adversely affect the financial and business prospects for the ICB Group. Amongst the political, economic and regulatory uncertainties are the changes in nullification of existing sales orders and contracts, changes in interest rates and method of taxation and currency exchange rules and contracts.
The ICB Group may continue to take effective measures to mitigate such risks. However, there is no assurance that adverse economic, political and regulatory conditions will not materially affect the business activities of the ICB Group.
5. FINANCIAL EFFECTS OF THE MOU
The MOU will not have any effect on the issued and paid-up share capital, substantial shareholders' shareholdings, net assets per share and gearing of the ICB Group for the financial year ending 31 December 2010. Barring unforeseen circumstances, the Board is of the opinion that the MOU will contribute positively to the earnings and earnings per share of the ICB Group in the future.
6. APPROVALS REQUIRED
The MOU does not require the approval of ICB's shareholders or any other relevant government authorities in Malaysia.
7. DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTERESTS
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 MOU.
8. STATEMENT BY DIRECTORS
The Board, having considered all aspects of the MOU (including but not limited to the rationale and financial effects of the MOU), is of the opinion that the MOU is fair, reasonable and is in the best interest of the ICB Group.
9. DOCUMENT FOR INSPECTION
The MOU dated 5 July 2010 is available for inspection at the registered office of ICB during office hours from Monday to Friday (excluding public holiday) 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 8 July 2010.
Company Name: IRIS CORPORATION BERHAD (ACE Market)
Stock Name: IRIS
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: IRIS CORPORATION BERHAD ("ICB" OR THE "COMPANY")
MEMORANDUM OF UNDERSTANDING BETWEEN IRIS ECO POWER SDN BHD AND CAISSE DES DEPOTS ET CONSIGNATIONS, SENEGAL IN RELATION TO A JOINT VENTURE FOR THE DEVELOPMENT OF A SOCIAL HOUSING PROJECT IN THE BAMBILOR AREA ("MOU")
Contents: 1. INTRODUCTION
The Board of Directors of ICB ("Board") wishes to announce that IRIS Eco Power Sdn Bhd ("IEP"), being a subsidiary of ICB Group had on 5 July 2010, entered into a MOU with Caisse des Depots et Consignations ("CDC") to enter into a joint venture agreement for the development of a social housing project on a 150- hectare site in the area of Bambilor, Senegal ("Project").
2. SALIENT TERMS OF THE MOU
The salient terms of the MOU are as follows:-
(a) CDC and IEP shall, within a period of six (6) months from the MOU, jointly carry out and complete a comprehensive project feasibility study, which shall include the master plan for the Project, Project costings and the financial plan, the marketing plan and the Project implementation plan;
(b) Each party shall bear its own costs incurred with respect to the feasibility study subject to the total cost incurred by each party not exceeding Euro ("EUR") 100,000. Any amounts to be incurred in excess of EUR100,000 will have to be mutually agreed by both parties;
(c) Upon signing of the joint venture agreement at a later date, the cost of the feasibility study shall be passed to the joint venture company ("JVCO");
(d) Should the joint venture be aborted, CDC shall reimburse IEP on the costs incurred, which will be supported by actual invoices and the feasibility study shall become the property of CDC;
(e) The conduct of feasibility study of the Project is the responsibility of IEP;
(f) The other terms of the joint venture:-
(i) The equity shareholdings shall be as follows:-
�?� CDC: 51%
�?� IEP: 49%;
(ii) The JVCO shall be capitalized at EUR100,000;
(iii) The JVCO shall build a minimum of 1,000 houses within one (1) year of the completion of the feasibility study and complete the entire project on the 150-hectare site within five (5) years;
(iv) CDC shall procure the 150-hectare site and sell the land to the JVCO in stages, based on the valuation of a qualified valuer, as the development and construction of the project progresses;
(v) IEP shall be responsible for the construction management of the project. CDC shall be responsible for mobilising the financing for the Project;
(vi) The cost of the construction of the public buildings (mosque, school and health centre) shall be estimated and agreed by both parties and incorporated into the cost of the project; and
(g) A joint venture agreement shall be concluded between the two parties within three (3) months after the completion and acceptance of the recommendations of the feasibility study. The announcement of the joint venture agreement will be made in due course.
3. RATIONALE OF THE MOU
The proposed joint venture with CDC to form a JVCO for the development of a social housing project is a new business segment that the Company intends to venture into. This new business segment will provide an additional source of revenue for the ICB group.
4. RISK FACTORS
4.1 Business risk
Like all business entities, risk factors affecting the MOU include but are not limited to execution risks such as business expansion, prudent financial management, changes in price materials and changes in political, economic and regulatory conditions. In addition, there is also no assurance that the anticipated benefits from the MOU will be realised, and that the ICB Group will be able to generate sufficient revenue from the MOU to offset the associated cost.
Nevertheless, the Board has and will continue to exercise due care in considering the risks and benefits associated with the MOU and will take appropriate measures in planning the successful integration of the MOU with its current business operations. Further, the ICB Group is committed towards the close monitoring of the development of the MOU in order to minimise any implementation issues or delays.
4.2 Political, economic and regulatory considerations
Like all business entities, changes in political, economic and regulatory conditions in Senegal could materially and adversely affect the financial and business prospects for the ICB Group. Amongst the political, economic and regulatory uncertainties are the changes in nullification of existing sales orders and contracts, changes in interest rates and method of taxation and currency exchange rules and contracts.
The ICB Group may continue to take effective measures to mitigate such risks. However, there is no assurance that adverse economic, political and regulatory conditions will not materially affect the business activities of the ICB Group.
5. FINANCIAL EFFECTS OF THE MOU
The MOU will not have any effect on the issued and paid-up share capital, substantial shareholders' shareholdings, net assets per share and gearing of the ICB Group for the financial year ending 31 December 2010. Barring unforeseen circumstances, the Board is of the opinion that the MOU will contribute positively to the earnings and earnings per share of the ICB Group in the future.
6. APPROVALS REQUIRED
The MOU does not require the approval of ICB's shareholders or any other relevant government authorities in Malaysia.
7. DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTERESTS
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 MOU.
8. STATEMENT BY DIRECTORS
The Board, having considered all aspects of the MOU (including but not limited to the rationale and financial effects of the MOU), is of the opinion that the MOU is fair, reasonable and is in the best interest of the ICB Group.
9. DOCUMENT FOR INSPECTION
The MOU dated 5 July 2010 is available for inspection at the registered office of ICB during office hours from Monday to Friday (excluding public holiday) 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 8 July 2010.
REDTONE - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: REDTONE INTERNATIONAL BERHAD (ACE Market)
Stock Name: REDTONE
Date Announced: 08/07/2010
Announcement Detail:
Date of buy back: 08/07/2010
Description of shares purchased: Ordinary shares of RM0.10 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 326,200
Minimum price paid for each share purchased ($$): 0.170
Maximum price paid for each share purchased ($$): 0.175
Total consideration paid ($$): 57,436.98
Number of shares purchased retained in treasury (units): 326,200
Cumulative net outstanding treasury shares as at to-date (units): 676,200
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.16
Company Name: REDTONE INTERNATIONAL BERHAD (ACE Market)
Stock Name: REDTONE
Date Announced: 08/07/2010
Announcement Detail:
Date of buy back: 08/07/2010
Description of shares purchased: Ordinary shares of RM0.10 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 326,200
Minimum price paid for each share purchased ($$): 0.170
Maximum price paid for each share purchased ($$): 0.175
Total consideration paid ($$): 57,436.98
Number of shares purchased retained in treasury (units): 326,200
Cumulative net outstanding treasury shares as at to-date (units): 676,200
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.16
TCUBES - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: TRICUBES BERHAD (ACE Market)
Stock Name: TCUBES
Date Announced: 08/07/2010
Announcement Detail:
Date of buy back: 08/07/2010
Description of shares purchased: Ordinary Shares of RM0.10 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 102,000
Minimum price paid for each share purchased ($$): 0.080
Maximum price paid for each share purchased ($$): 0.080
Total consideration paid ($$): 8,180.40
Number of shares purchased retained in treasury (units): 102,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 632,500
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.47
Company Name: TRICUBES BERHAD (ACE Market)
Stock Name: TCUBES
Date Announced: 08/07/2010
Announcement Detail:
Date of buy back: 08/07/2010
Description of shares purchased: Ordinary Shares of RM0.10 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 102,000
Minimum price paid for each share purchased ($$): 0.080
Maximum price paid for each share purchased ($$): 0.080
Total consideration paid ($$): 8,180.40
Number of shares purchased retained in treasury (units): 102,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 632,500
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 (%): 0.47
OVERSEA - General Announcement
Announcement Type: General Announcement
Company Name: OVERSEA ENTERPRISE BERHAD (ACE Market)
Stock Name: OVERSEA
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: INCORPORATION OF RESTORAN OVERSEA JV (SINGAPORE)
SDN. BHD., A WHOLLY- OWNED SUBSIDIARY OF OVERSEA
ENTERPRISE BERHAD
Contents: The Board of Directors of Oversea Enterprise Berhad ("Oversea") is pleased to announce that they
had on 6 July 2010 incorporated a wholly-owned subsidiary namely RESTORAN OVERSEA JV
(SINGAPORE) SDN. BHD.
1. Details of Restoran Oversea JV (Singapore) Sdn. Bhd. ("OJV")
OJV was incorporated in Malaysia on 6 July 2010 under the Companies Act, 1965 with an authorised
capital of RM100,000.00 with an issued and fully paid up shares capital of RM2.00 divided into 2
ordinary shares of RM1.00 each. OJV is a wholly-owned subsidiary of Oversea. The current directors
of OJV are as follows:-
Name
Yu Soo Chye @ Yee Soo Chye
Lee Pek Yoke
OJV is currently dormant and has yet to commence operations.
2. Rationale for the incorporation of OJV
OJV will be utilized as a vehicle for the Company's future business expansion.
3. Financial Effects
Earnings & Net Assets
The incorporation of OJV is not expected to have any material effect on the earnings per share and
net assets per share of the Group for the financial year ending 31 December 2010 as OJV is currently
dormant.
Share Capital
The incorporation of OJV has no effect on the share capital of the Company as the incorporation
costs was satisfied entirely by cash generated internally.
4. Approval Sought
The incorporation of OJV is not subject to the approval of the shareholders of the Company nor from
any relevant authorities.
5. Directors' and Substantial Shareholders' Interest
None of the Directors and/or substantial shareholders of the Company or any persons connected
to them have any direct or indirect interest in the incorporation of OJV.
6. Directors' Recommendation
The Directors of Oversea, having considered all aspect of the incorporation of OJV, are of the
opinion that the said incorporation is in the best interest of the Company.
7. Statement by Audit Committee
The Audit Committee of Oversea, having seen and reviewed the rationale for the incorporation of
OJV, is satisfied and is of the opinion that the said incorporation of OJV is not detrimental to the
shareholders of Oversea.
This announcement is dated 8 July 2010.
Company Name: OVERSEA ENTERPRISE BERHAD (ACE Market)
Stock Name: OVERSEA
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: INCORPORATION OF RESTORAN OVERSEA JV (SINGAPORE)
SDN. BHD., A WHOLLY- OWNED SUBSIDIARY OF OVERSEA
ENTERPRISE BERHAD
Contents: The Board of Directors of Oversea Enterprise Berhad ("Oversea") is pleased to announce that they
had on 6 July 2010 incorporated a wholly-owned subsidiary namely RESTORAN OVERSEA JV
(SINGAPORE) SDN. BHD.
1. Details of Restoran Oversea JV (Singapore) Sdn. Bhd. ("OJV")
OJV was incorporated in Malaysia on 6 July 2010 under the Companies Act, 1965 with an authorised
capital of RM100,000.00 with an issued and fully paid up shares capital of RM2.00 divided into 2
ordinary shares of RM1.00 each. OJV is a wholly-owned subsidiary of Oversea. The current directors
of OJV are as follows:-
Name
Yu Soo Chye @ Yee Soo Chye
Lee Pek Yoke
OJV is currently dormant and has yet to commence operations.
2. Rationale for the incorporation of OJV
OJV will be utilized as a vehicle for the Company's future business expansion.
3. Financial Effects
Earnings & Net Assets
The incorporation of OJV is not expected to have any material effect on the earnings per share and
net assets per share of the Group for the financial year ending 31 December 2010 as OJV is currently
dormant.
Share Capital
The incorporation of OJV has no effect on the share capital of the Company as the incorporation
costs was satisfied entirely by cash generated internally.
4. Approval Sought
The incorporation of OJV is not subject to the approval of the shareholders of the Company nor from
any relevant authorities.
5. Directors' and Substantial Shareholders' Interest
None of the Directors and/or substantial shareholders of the Company or any persons connected
to them have any direct or indirect interest in the incorporation of OJV.
6. Directors' Recommendation
The Directors of Oversea, having considered all aspect of the incorporation of OJV, are of the
opinion that the said incorporation is in the best interest of the Company.
7. Statement by Audit Committee
The Audit Committee of Oversea, having seen and reviewed the rationale for the incorporation of
OJV, is satisfied and is of the opinion that the said incorporation of OJV is not detrimental to the
shareholders of Oversea.
This announcement is dated 8 July 2010.
FBMKLCI-EA - FBM KLCI etf - Valuation Point as at 8 July 2010
Announcement Type: General Announcement
Company Name: FTSE BURSA MALAYSIA KLCI ETF
Stock Name: FBMKLCI-EA
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: FBM KLCI etf - Valuation Point as at 8 July 2010
Contents: Fund: FBM KLCI etf
NAV per unit (RM): 1.3252
Units in circulation (units): 3,344,000
Manager's Fee (% p.a): 0.50
Trustee Fee (% p.a): 0.06
License Fee (% p.a): 0.04
FTSE Bursa Malaysia KLCI Index: 1,316.03
Attachments: FBM KLCI etf 20100708.xls
Company Name: FTSE BURSA MALAYSIA KLCI ETF
Stock Name: FBMKLCI-EA
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: FBM KLCI etf - Valuation Point as at 8 July 2010
Contents: Fund: FBM KLCI etf
NAV per unit (RM): 1.3252
Units in circulation (units): 3,344,000
Manager's Fee (% p.a): 0.50
Trustee Fee (% p.a): 0.06
License Fee (% p.a): 0.04
FTSE Bursa Malaysia KLCI Index: 1,316.03
Attachments: FBM KLCI etf 20100708.xls
AMDB - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Submitting Merchant Bank: N/A
Company Name: AMDB BERHAD
Stock Name: AMDB
Date Announced: 08/07/2010
Announcement Detail:
Date of buy back: 08/07/2010
Description of shares purchased: Ordinary shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 22,200
Minimum price paid for each share purchased ($$): 0.375
Maximum price paid for each share purchased ($$): 0.375
Total consideration paid ($$): 8,386.45
Number of shares purchased retained in treasury (units): 22,200
Cumulative net outstanding treasury shares as at to-date (units): 139,800
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.02
Submitting Merchant Bank: N/A
Company Name: AMDB BERHAD
Stock Name: AMDB
Date Announced: 08/07/2010
Announcement Detail:
Date of buy back: 08/07/2010
Description of shares purchased: Ordinary shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 22,200
Minimum price paid for each share purchased ($$): 0.375
Maximum price paid for each share purchased ($$): 0.375
Total consideration paid ($$): 8,386.45
Number of shares purchased retained in treasury (units): 22,200
Cumulative net outstanding treasury shares as at to-date (units): 139,800
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.02
IBRACO - General Announcement
Announcement Type: General Announcement
Company Name: IBRACO BERHAD
Stock Name: IBRACO
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: Ibraco Berhad ("Ibraco" or "the Company")
- Monthly Announcement on the status of Regularization Plan pursuant to Practice Note 17 of the Main Market Listing Requirements
Contents: Refer to the details of the announcement below:
Company Name: IBRACO BERHAD
Stock Name: IBRACO
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: Ibraco Berhad ("Ibraco" or "the Company")
- Monthly Announcement on the status of Regularization Plan pursuant to Practice Note 17 of the Main Market Listing Requirements
Contents: Refer to the details of the announcement below:
SOP - GROUP PRODUCTION FOR JUNE 2010
Announcement Type: General Announcement
Company Name: SARAWAK OIL PALMS BERHAD
Stock Name: SOP
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: GROUP PRODUCTION FOR JUNE 2010
Contents: We submit herewith the SOPB Group's figures for the month of JUNE 2010.
M. TONNES
CRUDE PALM OIL 19,709
PALM KERNELS 3,878
Company Name: SARAWAK OIL PALMS BERHAD
Stock Name: SOP
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: GROUP PRODUCTION FOR JUNE 2010
Contents: We submit herewith the SOPB Group's figures for the month of JUNE 2010.
M. TONNES
CRUDE PALM OIL 19,709
PALM KERNELS 3,878
BIG - General Announcement
Announcement Type: General Announcement
Company Name: B.I.G. INDUSTRIES BERHAD
Stock Name: BIG
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: QUARTERLY DISCLOSURE OF INFORMATION IN RELATION TO MONEY LENDING COMPANY PURSUANT TO PARAGRAPH 8.23(2)(e) OF BURSA SECURITIES MAIN MARKET LISTING REQUIREMENTS. (Amended Announcement)
Contents: We refer to the Company's announcement on 7 July 2010 pertaining to the disclosure of Paragraph 8.23(2)(e)of Bursa Securities Main Market Listing Requirements ("said announcement").
We wish to clarify that there are changes in the said announcement and announcement made on 8 April 2010, 30 September 2009 and 29 July 2009 respectively due to error in classification as set out in the attachment.
This announcement is dated 8 July 2010.
Attachments: BIG Bahtera - Bursa Requirement-latest.xls
Company Name: B.I.G. INDUSTRIES BERHAD
Stock Name: BIG
Date Announced: 08/07/2010
Announcement Detail:
Type: Announcement
Subject: QUARTERLY DISCLOSURE OF INFORMATION IN RELATION TO MONEY LENDING COMPANY PURSUANT TO PARAGRAPH 8.23(2)(e) OF BURSA SECURITIES MAIN MARKET LISTING REQUIREMENTS. (Amended Announcement)
Contents: We refer to the Company's announcement on 7 July 2010 pertaining to the disclosure of Paragraph 8.23(2)(e)of Bursa Securities Main Market Listing Requirements ("said announcement").
We wish to clarify that there are changes in the said announcement and announcement made on 8 April 2010, 30 September 2009 and 29 July 2009 respectively due to error in classification as set out in the attachment.
This announcement is dated 8 July 2010.
Attachments: BIG Bahtera - Bursa Requirement-latest.xls
No comments:
Post a Comment