ASB - General Announcement
Announcement Type: General Announcement
Company Name: ADVANCE SYNERGY BERHAD
Stock Name: ASB
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: ADVANCE SYNERGY BERHAD ("ASB")
ORIGINATING SUMMONS NO. D-24NCC-72-2009 DATED 3 NOVEMBER 2009 SERVED ON ADVANCE SYNERGY CAPITAL SDN BHD ("ASCAP"), A WHOLLY-OWNED SUBSIDIARY OF ASB, BY ACE INA INTERNATIONAL HOLDINGS LTD ("ACE INA")("ORIGINATING SUMMONS")
Contents: We refer to our announcements on 10 November 2009, 12 November 2009 and 13 May 2010 as well as the updates provided in the quarterly financial results announcements on 24 February 2010, 25 May 2010 and 25 August 2010 concerning the Originating Summons.
We wish to inform the Exchange that ASCAP has on 13 September 2010 received a letter dated 9 September 2010 from Bank Negara Malaysia in response to ASCAP's letter which was submitted pursuant to a Court Order; notifying ASCAP that the Minister of Finance has approved the proposed disposal by ASCAP of its 49% equity interest in ACE Synergy Insurance Berhad to ACE INA pursuant to Section 67 of the Insurance Act 1996.
Pending the hearing fixed on 8 November 2010 of ASCAP's application for Leave to Appeal to the Federal Court, ASCAP will be seeking further legal advice on this matter.
This announcement is dated 13 September 2010.
Company Name: ADVANCE SYNERGY BERHAD
Stock Name: ASB
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: ADVANCE SYNERGY BERHAD ("ASB")
ORIGINATING SUMMONS NO. D-24NCC-72-2009 DATED 3 NOVEMBER 2009 SERVED ON ADVANCE SYNERGY CAPITAL SDN BHD ("ASCAP"), A WHOLLY-OWNED SUBSIDIARY OF ASB, BY ACE INA INTERNATIONAL HOLDINGS LTD ("ACE INA")("ORIGINATING SUMMONS")
Contents: We refer to our announcements on 10 November 2009, 12 November 2009 and 13 May 2010 as well as the updates provided in the quarterly financial results announcements on 24 February 2010, 25 May 2010 and 25 August 2010 concerning the Originating Summons.
We wish to inform the Exchange that ASCAP has on 13 September 2010 received a letter dated 9 September 2010 from Bank Negara Malaysia in response to ASCAP's letter which was submitted pursuant to a Court Order; notifying ASCAP that the Minister of Finance has approved the proposed disposal by ASCAP of its 49% equity interest in ACE Synergy Insurance Berhad to ACE INA pursuant to Section 67 of the Insurance Act 1996.
Pending the hearing fixed on 8 November 2010 of ASCAP's application for Leave to Appeal to the Federal Court, ASCAP will be seeking further legal advice on this matter.
This announcement is dated 13 September 2010.
TDM - NOTICE OF EXTRAORDINARY GENERAL MEETING
Announcement Type: General Announcement
Company Name: TDM BERHAD
Stock Name: TDM
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: NOTICE OF EXTRAORDINARY GENERAL MEETING
Contents: The Board of TDM Berhad ("TDM") wishes to announce that the Extraordinary General Meeting ("EGM") of TDM will be held at Aras 1, Bangunan UMNO Terengganu, Lot 3224, Jalan Masjid Abidin, 20100 Kuala Terengganu, Terengganu Darul Iman on Wednesday, 29 September 2010 at 2.30 p.m.
The notice of the EGM, as attached below, will be published in The Star newspaper on 14 September 2010.
Attachments: Notice of EGM.pdf
Company Name: TDM BERHAD
Stock Name: TDM
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: NOTICE OF EXTRAORDINARY GENERAL MEETING
Contents: The Board of TDM Berhad ("TDM") wishes to announce that the Extraordinary General Meeting ("EGM") of TDM will be held at Aras 1, Bangunan UMNO Terengganu, Lot 3224, Jalan Masjid Abidin, 20100 Kuala Terengganu, Terengganu Darul Iman on Wednesday, 29 September 2010 at 2.30 p.m.
The notice of the EGM, as attached below, will be published in The Star newspaper on 14 September 2010.
Attachments: Notice of EGM.pdf
TANJONG - General Announcement
Announcement Type: General Announcement
Company Name: TANJONG PUBLIC LIMITED COMPANY
Stock Name: TANJONG
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: TANJONG PUBLIC LIMITED COMPANY ("TANJONG")
- DISCLOSURE OF DEALINGS IN ACCORDANCE WITH SECTION 36 OF THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 1998 ("Code")
Contents: We refer to the announcement by Tanjong dated 30 July 2010 on the Notice of Conditional Take-Over Offer from CIMB Investment Bank Berhad, RHB Investment Bank Berhad, RBS Asia Advisers (Malaysia) Sdn Bhd and Standard Chartered Bank.
During the Offer Period which commenced on 30 July 2010, a connected person to Tanjong has an obligation to disclose his/her dealings in the shares of Tanjong to Bursa Malaysia Securities Berhad ("Bursa Securities") and the Securities Commission and announced by way of a press notice. Bursa Securities requires that the disclosure to Bursa Securities be announced via the BursaLINK.
Tanjong wishes to announce, on behalf of JPMorgan Securities (Malaysia) Sdn Bhd ("JPM"), an adviser and therefore a "connected person" to Tanjong pursuant to the Code, that JPM has on 13 September 2010 made a disclosure pursuant to Section 36 of the Code and Paragraph 11.07 of the Main Market Listing Requirements of Bursa Securities of its dealings in the shares of Tanjong. A copy of JPM's disclosure is attached herewith.
Attachments: Section 36 Dealings - JP Morgan - 13 September 2010.pdf
Company Name: TANJONG PUBLIC LIMITED COMPANY
Stock Name: TANJONG
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: TANJONG PUBLIC LIMITED COMPANY ("TANJONG")
- DISCLOSURE OF DEALINGS IN ACCORDANCE WITH SECTION 36 OF THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 1998 ("Code")
Contents: We refer to the announcement by Tanjong dated 30 July 2010 on the Notice of Conditional Take-Over Offer from CIMB Investment Bank Berhad, RHB Investment Bank Berhad, RBS Asia Advisers (Malaysia) Sdn Bhd and Standard Chartered Bank.
During the Offer Period which commenced on 30 July 2010, a connected person to Tanjong has an obligation to disclose his/her dealings in the shares of Tanjong to Bursa Malaysia Securities Berhad ("Bursa Securities") and the Securities Commission and announced by way of a press notice. Bursa Securities requires that the disclosure to Bursa Securities be announced via the BursaLINK.
Tanjong wishes to announce, on behalf of JPMorgan Securities (Malaysia) Sdn Bhd ("JPM"), an adviser and therefore a "connected person" to Tanjong pursuant to the Code, that JPM has on 13 September 2010 made a disclosure pursuant to Section 36 of the Code and Paragraph 11.07 of the Main Market Listing Requirements of Bursa Securities of its dealings in the shares of Tanjong. A copy of JPM's disclosure is attached herewith.
Attachments: Section 36 Dealings - JP Morgan - 13 September 2010.pdf
TANJONG - General Announcement
Announcement Type: General Announcement
Company Name: TANJONG PUBLIC LIMITED COMPANY
Stock Name: TANJONG
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: TANJONG PUBLIC LIMITED COMPANY ("TANJONG" or "COMPANY")
CONDITIONAL TAKE-OVER OFFER BY TANJONG CAPITAL SDN BHD ("TCSB" OR "OFFEROR") THROUGH CIMB INVESTMENT BANK BERHAD ("CIMB"), RHB INVESTMENT BANK BERHAD ("RHB INVESTMENT BANK"), RBS ASIA ADVISERS (MALAYSIA) SDN BHD AND STANDARD CHARTERED BANK TO ACQUIRE ALL THE VOTING SHARES OF 7.5 PENCE EACH IN TANJONG ("OFFER SHARES") AT A CASH OFFER PRICE OF RM21.80 PER OFFER SHARE ("OFFER")
- Offer becomes unconditional/Suspension of trading
Contents: We refer to our earlier announcements dated 30 July 2010, 6 August 2010, 13 August 2010, 20 August 2010, 30 August 2010, 8 September 2010 and 9 September 2010 in relation to the Offer.
Attachments: Press Notice dated 13 September 2010.pdf
Company Name: TANJONG PUBLIC LIMITED COMPANY
Stock Name: TANJONG
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: TANJONG PUBLIC LIMITED COMPANY ("TANJONG" or "COMPANY")
CONDITIONAL TAKE-OVER OFFER BY TANJONG CAPITAL SDN BHD ("TCSB" OR "OFFEROR") THROUGH CIMB INVESTMENT BANK BERHAD ("CIMB"), RHB INVESTMENT BANK BERHAD ("RHB INVESTMENT BANK"), RBS ASIA ADVISERS (MALAYSIA) SDN BHD AND STANDARD CHARTERED BANK TO ACQUIRE ALL THE VOTING SHARES OF 7.5 PENCE EACH IN TANJONG ("OFFER SHARES") AT A CASH OFFER PRICE OF RM21.80 PER OFFER SHARE ("OFFER")
- Offer becomes unconditional/Suspension of trading
Contents: We refer to our earlier announcements dated 30 July 2010, 6 August 2010, 13 August 2010, 20 August 2010, 30 August 2010, 8 September 2010 and 9 September 2010 in relation to the Offer.
Attachments: Press Notice dated 13 September 2010.pdf
CMSB - General Announcement
Announcement Type: General Announcement
Company Name: CAHYA MATA SARAWAK BERHAD
Stock Name: CMSB
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED ACQUISITION OF 720,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 40.00% OF THE EQUITY INTEREST IN CMS PREMIX SDN BHD FROM MINTARO SDN BHD
PROPOSED ACQUISITION OF 120,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 20.00% OF THE EQUITY INTEREST IN CMS PREMIX (MIRI) SDN BHD FROM MINTARO SDN BHD
(COLLECTIVELY REFERRED TO AS "THE PROPOSED ACQUISITION")
Contents: 1. INTRODUCTION
Pursuant to Paragraph 10.06 of Chapter 10 of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities"), the Board of Directors of Cahya Mata Sarawak Berhad ("CMSB") wishes to announce that CMSB has on 13 September 2010, entered into two (2) Share Sale Agreements ("SSAs") with Mintaro Sdn Bhd ("Mintaro") for the proposed acquisition of 720,000 ordinary shares of RM1.00 each in CMS Premix Sdn Bhd ("CMS Premix") representing 40% equity interest in CMS Premix for a total cash consideration of RM10.5 million and proposed acquisition of 120,000 ordinary shares of RM1.00 each in CMS Premix (Miri) Sdn Bhd ["CMS Premix (Miri)"] representing 20% equity interest in CMS Premix (Miri) for a total cash consideration of RM1.5 million ("Purchase Consideration") (the "Proposed Acquisition").
2. INFORMATION ON MINTARO, CMS PREMIX AND CMS PREMIX (MIRI)
2.1 Mintaro
Mintaro was incorporated in Malaysia on 24 November 1987 with an authorised share capital RM25,000.00 comprising 25,000 ordinary shares of RM1.00 each, of which 25,000 ordinary shares have been issued and are fully paid-up. Mintaro has a 40% equity interest in CMS Premix and a 20% equity interest in CMS Premix (Miri). The principal activities of Mintaro are investment holding and property development.
2.2 CMS Premix
CMS Premix was incorporated in Malaysia on 9 April 1984 as a private limited company under the Companies Act, 1965 under the name PPES Premix Sdn Bhd. The company changed its name to CMS Premix on 8 July 2004.
The current authorised and issued and paid up share capital of CMS Premix is RM5,000,000 and RM1,800,000 respectively comprising ordinary shares of RM1.00 each. CMS Premix is effectively a 30.60% owned subsidiary of CMSB.
Based on the audited financial statements of CMS Premix for the financial year ended 31 December 2009, the company recorded a net profit of RM9.41 million and net assets of RM33.88 million.
CMS Premix is principally involved in the production and sale of premix and emulsion.
2.3 CMS Premix (Miri)
CMS Premix (Miri) was incorporated in Malaysia on 11 June 1991 as a private limited company under the Companies Act, 1965 under the name PPES Premix (Miri) Sdn Bhd. The company changed its name to CMS Premix (Miri) on 8 July 2004.
The current authorised and issued and paid up share capital of CMS Premix is RM1,000,000 and RM600,000 respectively comprising ordinary shares of RM1.00 each. CMS Premix (Miri) is effectively a 30.60% owned subsidiary of CMSB.
Based on the audited financial statements of CMS Premix (Miri) for the financial year ended 31 December 2009, the company recorded a net profit of RM2.54 million and net assets of RM10.58 million.
CMS Premix (Miri) is principally involved in the production and sale of premix.
3. SALIENT TERMS OF THE SSAs
The salient terms of the SSA between Mintaro and CMSB in respect of CMS Premix are:
(a) Mintaro shall sell and transfer to CMSB and CMSB shall purchase and accept the transfer of 720,000 ordinary shares in CMS Premix, representing 40% equity interest in CMS Premix, free from all encumbrances for a total cash consideration of RM10.5 million.
(b) The purchase consideration of RM10.5 million is payable by CMSB to Mintaro within fourteen (14) business days from the date of the SSA in respect of CMS Premix ("Completion of Premix SSA").
(c) The purchase consideration of RM10.5 million is arrived at on a "willing buyer - willing seller" basis without any warranty from Mintaro on the valuation.
(d) The director nominated by Mintaro shall tender his resignation upon Completion of the Premix SSA.
The salient terms of the SSA between Mintaro and CMSB in respect of CMS Premix (Miri) are:
(a) Mintaro shall sell and transfer to CMSB and CMSB shall purchase and accept the transfer of 120,000 ordinary shares in CMS Premix (Miri), representing 20% equity interest in CMS Premix (Miri), free from all encumbrances for a total cash consideration of RM1.5 million.
(b) The purchase consideration of RM1.5 million is payable by CMSB to Mintaro within 14 business days from the date of the SSA CMS Premix (Miri) ["Completion of Premix SSA (Miri)"].
(c) The purchase consideration of RM1.5 million is arrived at on a "willing buyer - willing seller" basis without any warranty from Mintaro on the valuation.
(d) The director nominated by Mintaro shall tender his resignation upon Completion of the Premix SSA (Miri).
4. BASIS OF PURCHASE CONSIDERATION
The total purchase consideration of RM12.0 million was arrived at on a willing-seller and willing-buyer basis and after taking into consideration the unaudited net assets of RM33.00 million and RM10.13 million of CMS Premix and CMS Premix (Miri) respectively as at 30 June 2010.
5. SOURCE OF FUNDS
The Proposed Acquisition will be funded through internally generated funds.
6. RATIONALE AND PROSPECTS FOR THE PROPOSED ACQUISITION
CMSB wishes to expand its existing interests in the supply of road construction materials such as premix to take advantage of the growing opportunities in this sector consequent on the State of Sarawak's accelerated growth plans which will involve substantial investment in infrastructure to improve, amongst other areas, pan State road connectivity.
7. LIABILITIES TO BE ASSUMED
CMSB is not assuming any additional liabilities consequent on the Proposed Acquisition.
8. RISK FACTORS
The Proposed Acquisition involves CMSB increasing its investment in existing subsidiaries which the Group has a long term knowledge and understanding and long history of sound management. Both companies have established operations in their respective industry sectors and target markets and the Proposed Acquisition is expected to further enhance their positioning therein.
The operations of the companies are subject to the business and commercial risks inherent in the construction materials industry. These risks include competition from other construction materials suppliers; performance of construction and property development sectors; and government funding on infrastructure and general construction projects in Sarawak.
As both companies are presently our existing subsidiaries, there are no additional business and commercial risks to be assumed by CMSB Group arising from the Proposed Acquisition.
9. FINANCIAL EFFECTS
The Proposed Acquisition is not expected to have any effect on the share capital, earnings, net assets and substantial shareholders' shareholdings of CMSB for the financial year ending 31 December 2010 and is not expected to have any material effect on the gearing of CMSB.
10. HIGHEST PERCENTAGE RATIO PURSUANT TO PARAGRAPH 10.02(G) OF THE MMLR OF BURSA SECURITIES
The highest percentage ratio applicable for the Proposed Acquisition pursuant to Paragraph 10.02(g) of the MMLR is 10.42%.
11. DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTERESTS
None of the directors and/or major shareholders of CMSB or persons connected to them have any interest, direct or indirect, in the Proposed Acquisition.
12. APPROVAL REQUIRED
The Proposed Acquisition does not require the approval of the shareholders of CMSB.
13. DIRECTORS' STATEMENT
Having considered all aspects of the Proposed Acquisition, the Board of CMSB is of the opinion that the Proposed Acquisition is in the best long-term interest of CMSB.
14. ESTIMATED TIMEFRAME FOR COMPLETION OF THE PROPOSED ACQUISITION
Barring unforeseeable circumstances, the Proposed Acquisition is expected to be completed within fourteen (14) days from the date of the SSAs.
15. DOCUMENTS FOR INSPECTION
The SSAs are available for inspection at the registered office of CMS at Level 6 Wisma Mahmud, Jalan Sungai Sarawak, 93100, Kuching, Sarawak from Mondays to Fridays (except public holidays) during business hours, for a period of three (3) months from the date of this announcement.
This announcement is dated 13 September 2010.
Company Name: CAHYA MATA SARAWAK BERHAD
Stock Name: CMSB
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED ACQUISITION OF 720,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 40.00% OF THE EQUITY INTEREST IN CMS PREMIX SDN BHD FROM MINTARO SDN BHD
PROPOSED ACQUISITION OF 120,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 20.00% OF THE EQUITY INTEREST IN CMS PREMIX (MIRI) SDN BHD FROM MINTARO SDN BHD
(COLLECTIVELY REFERRED TO AS "THE PROPOSED ACQUISITION")
Contents: 1. INTRODUCTION
Pursuant to Paragraph 10.06 of Chapter 10 of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities"), the Board of Directors of Cahya Mata Sarawak Berhad ("CMSB") wishes to announce that CMSB has on 13 September 2010, entered into two (2) Share Sale Agreements ("SSAs") with Mintaro Sdn Bhd ("Mintaro") for the proposed acquisition of 720,000 ordinary shares of RM1.00 each in CMS Premix Sdn Bhd ("CMS Premix") representing 40% equity interest in CMS Premix for a total cash consideration of RM10.5 million and proposed acquisition of 120,000 ordinary shares of RM1.00 each in CMS Premix (Miri) Sdn Bhd ["CMS Premix (Miri)"] representing 20% equity interest in CMS Premix (Miri) for a total cash consideration of RM1.5 million ("Purchase Consideration") (the "Proposed Acquisition").
2. INFORMATION ON MINTARO, CMS PREMIX AND CMS PREMIX (MIRI)
2.1 Mintaro
Mintaro was incorporated in Malaysia on 24 November 1987 with an authorised share capital RM25,000.00 comprising 25,000 ordinary shares of RM1.00 each, of which 25,000 ordinary shares have been issued and are fully paid-up. Mintaro has a 40% equity interest in CMS Premix and a 20% equity interest in CMS Premix (Miri). The principal activities of Mintaro are investment holding and property development.
2.2 CMS Premix
CMS Premix was incorporated in Malaysia on 9 April 1984 as a private limited company under the Companies Act, 1965 under the name PPES Premix Sdn Bhd. The company changed its name to CMS Premix on 8 July 2004.
The current authorised and issued and paid up share capital of CMS Premix is RM5,000,000 and RM1,800,000 respectively comprising ordinary shares of RM1.00 each. CMS Premix is effectively a 30.60% owned subsidiary of CMSB.
Based on the audited financial statements of CMS Premix for the financial year ended 31 December 2009, the company recorded a net profit of RM9.41 million and net assets of RM33.88 million.
CMS Premix is principally involved in the production and sale of premix and emulsion.
2.3 CMS Premix (Miri)
CMS Premix (Miri) was incorporated in Malaysia on 11 June 1991 as a private limited company under the Companies Act, 1965 under the name PPES Premix (Miri) Sdn Bhd. The company changed its name to CMS Premix (Miri) on 8 July 2004.
The current authorised and issued and paid up share capital of CMS Premix is RM1,000,000 and RM600,000 respectively comprising ordinary shares of RM1.00 each. CMS Premix (Miri) is effectively a 30.60% owned subsidiary of CMSB.
Based on the audited financial statements of CMS Premix (Miri) for the financial year ended 31 December 2009, the company recorded a net profit of RM2.54 million and net assets of RM10.58 million.
CMS Premix (Miri) is principally involved in the production and sale of premix.
3. SALIENT TERMS OF THE SSAs
The salient terms of the SSA between Mintaro and CMSB in respect of CMS Premix are:
(a) Mintaro shall sell and transfer to CMSB and CMSB shall purchase and accept the transfer of 720,000 ordinary shares in CMS Premix, representing 40% equity interest in CMS Premix, free from all encumbrances for a total cash consideration of RM10.5 million.
(b) The purchase consideration of RM10.5 million is payable by CMSB to Mintaro within fourteen (14) business days from the date of the SSA in respect of CMS Premix ("Completion of Premix SSA").
(c) The purchase consideration of RM10.5 million is arrived at on a "willing buyer - willing seller" basis without any warranty from Mintaro on the valuation.
(d) The director nominated by Mintaro shall tender his resignation upon Completion of the Premix SSA.
The salient terms of the SSA between Mintaro and CMSB in respect of CMS Premix (Miri) are:
(a) Mintaro shall sell and transfer to CMSB and CMSB shall purchase and accept the transfer of 120,000 ordinary shares in CMS Premix (Miri), representing 20% equity interest in CMS Premix (Miri), free from all encumbrances for a total cash consideration of RM1.5 million.
(b) The purchase consideration of RM1.5 million is payable by CMSB to Mintaro within 14 business days from the date of the SSA CMS Premix (Miri) ["Completion of Premix SSA (Miri)"].
(c) The purchase consideration of RM1.5 million is arrived at on a "willing buyer - willing seller" basis without any warranty from Mintaro on the valuation.
(d) The director nominated by Mintaro shall tender his resignation upon Completion of the Premix SSA (Miri).
4. BASIS OF PURCHASE CONSIDERATION
The total purchase consideration of RM12.0 million was arrived at on a willing-seller and willing-buyer basis and after taking into consideration the unaudited net assets of RM33.00 million and RM10.13 million of CMS Premix and CMS Premix (Miri) respectively as at 30 June 2010.
5. SOURCE OF FUNDS
The Proposed Acquisition will be funded through internally generated funds.
6. RATIONALE AND PROSPECTS FOR THE PROPOSED ACQUISITION
CMSB wishes to expand its existing interests in the supply of road construction materials such as premix to take advantage of the growing opportunities in this sector consequent on the State of Sarawak's accelerated growth plans which will involve substantial investment in infrastructure to improve, amongst other areas, pan State road connectivity.
7. LIABILITIES TO BE ASSUMED
CMSB is not assuming any additional liabilities consequent on the Proposed Acquisition.
8. RISK FACTORS
The Proposed Acquisition involves CMSB increasing its investment in existing subsidiaries which the Group has a long term knowledge and understanding and long history of sound management. Both companies have established operations in their respective industry sectors and target markets and the Proposed Acquisition is expected to further enhance their positioning therein.
The operations of the companies are subject to the business and commercial risks inherent in the construction materials industry. These risks include competition from other construction materials suppliers; performance of construction and property development sectors; and government funding on infrastructure and general construction projects in Sarawak.
As both companies are presently our existing subsidiaries, there are no additional business and commercial risks to be assumed by CMSB Group arising from the Proposed Acquisition.
9. FINANCIAL EFFECTS
The Proposed Acquisition is not expected to have any effect on the share capital, earnings, net assets and substantial shareholders' shareholdings of CMSB for the financial year ending 31 December 2010 and is not expected to have any material effect on the gearing of CMSB.
10. HIGHEST PERCENTAGE RATIO PURSUANT TO PARAGRAPH 10.02(G) OF THE MMLR OF BURSA SECURITIES
The highest percentage ratio applicable for the Proposed Acquisition pursuant to Paragraph 10.02(g) of the MMLR is 10.42%.
11. DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTERESTS
None of the directors and/or major shareholders of CMSB or persons connected to them have any interest, direct or indirect, in the Proposed Acquisition.
12. APPROVAL REQUIRED
The Proposed Acquisition does not require the approval of the shareholders of CMSB.
13. DIRECTORS' STATEMENT
Having considered all aspects of the Proposed Acquisition, the Board of CMSB is of the opinion that the Proposed Acquisition is in the best long-term interest of CMSB.
14. ESTIMATED TIMEFRAME FOR COMPLETION OF THE PROPOSED ACQUISITION
Barring unforeseeable circumstances, the Proposed Acquisition is expected to be completed within fourteen (14) days from the date of the SSAs.
15. DOCUMENTS FOR INSPECTION
The SSAs are available for inspection at the registered office of CMS at Level 6 Wisma Mahmud, Jalan Sungai Sarawak, 93100, Kuching, Sarawak from Mondays to Fridays (except public holidays) during business hours, for a period of three (3) months from the date of this announcement.
This announcement is dated 13 September 2010.
YNHPROP - Notice of Shares Buy Back - Immediate Announcement (Amended Announcement)
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: YNH PROPERTY BERHAD
Stock Name: YNHPROP
Date Announced: 13/09/2010
Announcement Detail:
Date of buy back: 01/09/2010
Description of shares purchased: Ordinary Shares
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 1,000
Minimum price paid for each share purchased ($$): 1.690
Maximum price paid for each share purchased ($$): 1.690
Total consideration paid ($$): 1,690.00
Number of shares purchased retained in treasury (units): 1,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 4,810,055
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.19
Remarks: This is an amended announcement dated 13 September 2010 and supersedes the previous announcement dated 1 September 2010.
Company Name: YNH PROPERTY BERHAD
Stock Name: YNHPROP
Date Announced: 13/09/2010
Announcement Detail:
Date of buy back: 01/09/2010
Description of shares purchased: Ordinary Shares
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 1,000
Minimum price paid for each share purchased ($$): 1.690
Maximum price paid for each share purchased ($$): 1.690
Total consideration paid ($$): 1,690.00
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): 4,810,055
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.19
Remarks: This is an amended announcement dated 13 September 2010 and supersedes the previous announcement dated 1 September 2010.
GENTING - General Announcement
Announcement Type: General Announcement
Company Name: GENTING BERHAD
Stock Name: GENTING
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: VOLUNTARY WINDING-UP OF PRIME VENTURE (LABUAN) LIMITED [IN MEMBER'S VOLUNTARY LIQUIDATION], A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
Contents: Following Genting Berhad ("GENT" or "the Company")'s announcement dated 15 July 2009 pertaining to the voluntary winding-up of Prime Venture (Labuan) Limited ("PVLL") [In Member's Voluntary Liquidation], a wholly-owned dormant subsidiary of the Company incorporated in Labuan, Malaysia, the Company wishes to inform that PVLL had been dissolved pursuant to Section 272(5) of the Companies Act, 1965 on 9 September 2010. As such, PVLL had ceased to be a subsidiary of GENT on that date.
Company Name: GENTING BERHAD
Stock Name: GENTING
Date Announced: 13/09/2010
Announcement Detail:
Type: Announcement
Subject: VOLUNTARY WINDING-UP OF PRIME VENTURE (LABUAN) LIMITED [IN MEMBER'S VOLUNTARY LIQUIDATION], A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
Contents: Following Genting Berhad ("GENT" or "the Company")'s announcement dated 15 July 2009 pertaining to the voluntary winding-up of Prime Venture (Labuan) Limited ("PVLL") [In Member's Voluntary Liquidation], a wholly-owned dormant subsidiary of the Company incorporated in Labuan, Malaysia, the Company wishes to inform that PVLL had been dissolved pursuant to Section 272(5) of the Companies Act, 1965 on 9 September 2010. As such, PVLL had ceased to be a subsidiary of GENT on that date.
GUH - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: GUH HOLDINGS BERHAD
Stock Name: GUH
Date Announced: 13/09/2010
Announcement Detail:
Date of buy back: 13/09/2010
Description of shares purchased: Ordinary shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 262,900
Minimum price paid for each share purchased ($$): 1.180
Maximum price paid for each share purchased ($$): 1.200
Total consideration paid ($$): 314,906.00
Number of shares purchased retained in treasury (units): 262,900
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 2,029,400
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.00
Company Name: GUH HOLDINGS BERHAD
Stock Name: GUH
Date Announced: 13/09/2010
Announcement Detail:
Date of buy back: 13/09/2010
Description of shares purchased: Ordinary shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 262,900
Minimum price paid for each share purchased ($$): 1.180
Maximum price paid for each share purchased ($$): 1.200
Total consideration paid ($$): 314,906.00
Number of shares purchased retained in treasury (units): 262,900
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 2,029,400
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 (%): 1.00
GAB - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: GUINNESS ANCHOR BERHAD
Stock Name: GAB
Date Announced: 13/09/2010
Announcement Detail:
Date of change: 08/09/2010
Type of change: Resignation
Designation: Alternate Director
Directorate: Non Independent & Non Executive
Name: David Heginbottom
Age: 39
Nationality: British
Qualifications: Chartered Accountant (Institute of Chartered Accountants in England and Wales)
Master of Arts (Oxford University)
Working experience and occupation: David joined Diageo Plc in 1996, and has held a variety of Finace Director roles in Asia Pacific since 2004, currently holding the position of Finance Director, Asia Pacific.
Prior to joining Diageo, David worked for KPMG where he qualified as a Chartered Accountant with the Institute of Chartered Accountants in England and Wales.
Directorship of public companies (if any): Nil
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
Remarks: David Heginbottom resigned as Alternate Director to Siobhan Mary Hamilton with effect from 8 September 2010.
Company Name: GUINNESS ANCHOR BERHAD
Stock Name: GAB
Date Announced: 13/09/2010
Announcement Detail:
Date of change: 08/09/2010
Type of change: Resignation
Designation: Alternate Director
Directorate: Non Independent & Non Executive
Name: David Heginbottom
Age: 39
Nationality: British
Qualifications: Chartered Accountant (Institute of Chartered Accountants in England and Wales)
Master of Arts (Oxford University)
Working experience and occupation: David joined Diageo Plc in 1996, and has held a variety of Finace Director roles in Asia Pacific since 2004, currently holding the position of Finance Director, Asia Pacific.
Prior to joining Diageo, David worked for KPMG where he qualified as a Chartered Accountant with the Institute of Chartered Accountants in England and Wales.
Directorship of public companies (if any): Nil
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
Remarks: David Heginbottom resigned as Alternate Director to Siobhan Mary Hamilton with effect from 8 September 2010.
GAB - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: GUINNESS ANCHOR BERHAD
Stock Name: GAB
Date Announced: 13/09/2010
Announcement Detail:
Date of change: 08/09/2010
Type of change: Appointment
Designation: Alternate Director
Directorate: Non Independent & Non Executive
Name: Anna Olive Magdelene Manz
Age: 37
Nationality: British
Qualifications: Chartered Accountant
Master of Chemistry (Oxford University - Wadham College)
Member of the Chartered Institute of Management Accountants and the Association of Corporate Treasurers
Working experience and occupation: Anna began her career in Quest International, Unilever / ICI Plc in 1996 before joining Diageo Group as the Foreign Exchange Controller in 1999. She has held various senior roles within the Group including Financial Planning and Analysis Director of Diageo South East USA (2000 - 2002), Vice President - Finance of Diageo North America (2002-2005), Finance Director of Diageo Ireland (2005-2006), Finance Director Global Marketing, Sales & Innovation (2007-2008) and Group Treasurer (2009-2010).
Anna is currently holding the position of Finance Director in Diageo Asia.
Directorship of public companies (if any): Nil
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
Remarks: Anna Olive Magdelene Manz is appointed as Alternate Director to Ms Siobhan Mary Hamilton to replace David Heginbottom who resigned on 8 September 2010.
Company Name: GUINNESS ANCHOR BERHAD
Stock Name: GAB
Date Announced: 13/09/2010
Announcement Detail:
Date of change: 08/09/2010
Type of change: Appointment
Designation: Alternate Director
Directorate: Non Independent & Non Executive
Name: Anna Olive Magdelene Manz
Age: 37
Nationality: British
Qualifications: Chartered Accountant
Master of Chemistry (Oxford University - Wadham College)
Member of the Chartered Institute of Management Accountants and the Association of Corporate Treasurers
Working experience and occupation: Anna began her career in Quest International, Unilever / ICI Plc in 1996 before joining Diageo Group as the Foreign Exchange Controller in 1999. She has held various senior roles within the Group including Financial Planning and Analysis Director of Diageo South East USA (2000 - 2002), Vice President - Finance of Diageo North America (2002-2005), Finance Director of Diageo Ireland (2005-2006), Finance Director Global Marketing, Sales & Innovation (2007-2008) and Group Treasurer (2009-2010).
Anna is currently holding the position of Finance Director in Diageo Asia.
Directorship of public companies (if any): Nil
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
Remarks: Anna Olive Magdelene Manz is appointed as Alternate Director to Ms Siobhan Mary Hamilton to replace David Heginbottom who resigned on 8 September 2010.
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