KIMHIN - General Announcement
Announcement Type: General Announcement
Company Name: KIM HIN INDUSTRY BERHAD
Stock Name: KIMHIN
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: Notification of Director's dealings during outside closed period pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
Contents: Pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, we have received notification from the following director in relation to Kim Hin (Malaysia) Sdn Bhd's dealings in the shares of Kim Hin Industry Berhad:-
Company Name: KIM HIN INDUSTRY BERHAD
Stock Name: KIMHIN
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: Notification of Director's dealings during outside closed period pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
Contents: Pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, we have received notification from the following director in relation to Kim Hin (Malaysia) Sdn Bhd's dealings in the shares of Kim Hin Industry Berhad:-
IPMUDA - Subscription of additional shares in Ipmuda Borneo Sdn Bhd
Announcement Type: General Announcement
Company Name: IPMUDA BERHAD
Stock Name: IPMUDA
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: Subscription of additional shares in Ipmuda Borneo Sdn Bhd
Contents: Reference is made to the Company's previous announcement dated 30 August 2010 in relation to the Company's acquisition of 2 ordinary shares of RM1.00 each in Ipmuda Borneo Sdn Bhd ("Ipmuda Borneo") making it a wholly-owned subsidiary.
The Company wishes to announce that it has on 29 September 2010 subscribed for 799,998 new ordinary shares of RM1.00 each in the capital of Ipmuda Borneo for a total cash consideration of RM799,998.00 only representing 80% of the enlarged share capital of Ipmuda Borneo. The remaining 200,000 new ordinary shares representing 20% of the enlarged share capital of Ipmuda Borneo has been subscribed by Tan Tor Hin (NRIC No:570415-05-5607).
The principal activity of Ipmuda Borneo is trading in building materials in Sabah.
This announcement is dated 29 September 2010.
Company Name: IPMUDA BERHAD
Stock Name: IPMUDA
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: Subscription of additional shares in Ipmuda Borneo Sdn Bhd
Contents: Reference is made to the Company's previous announcement dated 30 August 2010 in relation to the Company's acquisition of 2 ordinary shares of RM1.00 each in Ipmuda Borneo Sdn Bhd ("Ipmuda Borneo") making it a wholly-owned subsidiary.
The Company wishes to announce that it has on 29 September 2010 subscribed for 799,998 new ordinary shares of RM1.00 each in the capital of Ipmuda Borneo for a total cash consideration of RM799,998.00 only representing 80% of the enlarged share capital of Ipmuda Borneo. The remaining 200,000 new ordinary shares representing 20% of the enlarged share capital of Ipmuda Borneo has been subscribed by Tan Tor Hin (NRIC No:570415-05-5607).
The principal activity of Ipmuda Borneo is trading in building materials in Sabah.
This announcement is dated 29 September 2010.
SURIA - General Announcement
Announcement Type: General Announcement
Company Name: SURIA CAPITAL HOLDINGS BERHAD
Stock Name: SURIA
Date Announced: 29/09/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NS-100928-53949
Subject: SIGNING OF TAWAU FERRY TERMINAL DEVELOPMENT AGREEMENT BETWEEN SABAH PORTS SDN BHD (SPSB) AND FOKUSJADI SDN BHD. ("AGREEMENT")
Contents: We refer to your letter dated 28th September 2010.
As requested, the additional information is as follows:
1. The commencement date of the newly constructed Tawau Ferry Terminal is expected in the middle or toward the end of 2013, taking into account the 30 months construction time from the date of the Agreement, the delay in approval of Building Plan and Development Plan, and the receipt of certificate of fitness for occupation.
2. In terms of earnings or net assets per share, the Agreement shall have no effect. Since the commencement of take over of the operation of Sabah ports, SPSB has not conducted any passenger ferry terminal activities in Tawau and the existing passenger ferry terminal within Tawau port limits is managed by the Sabah Ports and Harbour Department. Zero revenue is collected by SPSB derived from passenger ferry terminal acitivities at Tawau Port.
3. Fokusjadi Sdn Bhd is required to submit the Building Plan and Development Plans to the appropriate government authorities within three (3) months from the date of signing of the Agreement.
4. The Agreement poses no risk to SPSB or Suria Capital Holdings Berhad.
5. Directors' Statement:
The Board, after due consideration of all aspects of granting the exclusive right to operate and manage Tawau Ferry Terminal to Fokusjadi Sdn Bhd, is of the opinion that the conferred right is reasonable and is in the best interest of Suria Capital Holdings Berhad and is not detrimental to Suria Capital Holdings Berhad and its shareholders.
This announcement is dated : 29th September 2010.
Announcement Authorised By:
DATUK MOHD. FOWZI HAJI RAZI
Group Managing Director
Query Letter content: We refer to your Company's announcement dated 27 September 2010 in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
1. The expected commencement date for Fokusjadi Sdn Bhd to operate and manage
the Tawau Ferry Terminal and provide Passengers Transit Facilities.
2. The effects of the Agreement on the earnings per share, net assets per share
and gearing of Suria Capital Holdings Berhad Group.
3. The estimated time frame for submission of the project financial technical
proposals and Development Plan and the Building Plan to the relevant
Government authorities.
4. The risks in relation to the Agreement.
5. A statement by the board of directors, stating whether the Agreement is in
the best interest of Suria Capital Holdings Berhad, and where a director
disagrees with such statement, a statement by the director setting out the
reasons and the factors taken into consideration in forming that opinion.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division, Regulation
TYE/NZ
c.c:- General Manager & Head, Market Surveillance Department, Market
Supervision Buisness Group, Securities Commission (via fax)
Company Name: SURIA CAPITAL HOLDINGS BERHAD
Stock Name: SURIA
Date Announced: 29/09/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NS-100928-53949
Subject: SIGNING OF TAWAU FERRY TERMINAL DEVELOPMENT AGREEMENT BETWEEN SABAH PORTS SDN BHD (SPSB) AND FOKUSJADI SDN BHD. ("AGREEMENT")
Contents: We refer to your letter dated 28th September 2010.
As requested, the additional information is as follows:
1. The commencement date of the newly constructed Tawau Ferry Terminal is expected in the middle or toward the end of 2013, taking into account the 30 months construction time from the date of the Agreement, the delay in approval of Building Plan and Development Plan, and the receipt of certificate of fitness for occupation.
2. In terms of earnings or net assets per share, the Agreement shall have no effect. Since the commencement of take over of the operation of Sabah ports, SPSB has not conducted any passenger ferry terminal activities in Tawau and the existing passenger ferry terminal within Tawau port limits is managed by the Sabah Ports and Harbour Department. Zero revenue is collected by SPSB derived from passenger ferry terminal acitivities at Tawau Port.
3. Fokusjadi Sdn Bhd is required to submit the Building Plan and Development Plans to the appropriate government authorities within three (3) months from the date of signing of the Agreement.
4. The Agreement poses no risk to SPSB or Suria Capital Holdings Berhad.
5. Directors' Statement:
The Board, after due consideration of all aspects of granting the exclusive right to operate and manage Tawau Ferry Terminal to Fokusjadi Sdn Bhd, is of the opinion that the conferred right is reasonable and is in the best interest of Suria Capital Holdings Berhad and is not detrimental to Suria Capital Holdings Berhad and its shareholders.
This announcement is dated : 29th September 2010.
Announcement Authorised By:
DATUK MOHD. FOWZI HAJI RAZI
Group Managing Director
Query Letter content: We refer to your Company's announcement dated 27 September 2010 in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
1. The expected commencement date for Fokusjadi Sdn Bhd to operate and manage
the Tawau Ferry Terminal and provide Passengers Transit Facilities.
2. The effects of the Agreement on the earnings per share, net assets per share
and gearing of Suria Capital Holdings Berhad Group.
3. The estimated time frame for submission of the project financial technical
proposals and Development Plan and the Building Plan to the relevant
Government authorities.
4. The risks in relation to the Agreement.
5. A statement by the board of directors, stating whether the Agreement is in
the best interest of Suria Capital Holdings Berhad, and where a director
disagrees with such statement, a statement by the director setting out the
reasons and the factors taken into consideration in forming that opinion.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division, Regulation
TYE/NZ
c.c:- General Manager & Head, Market Surveillance Department, Market
Supervision Buisness Group, Securities Commission (via fax)
DIGI - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: DIGI.COM BERHAD
Stock Name: DIGI
Date Announced: 29/09/2010
Announcement Detail:
Date of change: 29/09/2010
Type of change: Resignation
Designation: Member of Audit Committee
Directorate: Non Independent & Non Executive
Name: Eirik Boerve Monsen
Age: 36
Nationality: Norwegian
Qualifications: (1) Certified EFFAS Financial Analyst (AFA), Norwegian School of Economics and Business Administration (NHH) / The Norwegian Society of Financial Analysts
(2) NFF Fixed Income Analyst, The Norwegian Society of Financial Analysts
(3) State Authorised Public Accountant, Norwegian School of Economics and Business Administration (NHH)
(4) Master of Business Administration (MBA), Norwegian School of Economics and Business Administration (NHH)
(5) Master of Business and Economics (MBE/Siv.?k) with specialisation in Finance, Norwegian School of Management (BI)
Working experience and occupation: Not Applicable
Directorship of public companies (if any): None
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
Composition of Audit Committee (Name and Directorate of members after change): 1. Dato' Ab. Halim Bin Mohyiddin (Chairman) (Independent Non-Executive Director)
2. Tan Sri Leo Moggie (Independent Non-Executive Director)
3. Mr Jan Edvard Thygesen (Non-Independent Non-Executive Director)
Remarks: Mr Eirik Boerve Monsen's resignation as member of the Audit Committee member is replaced by Mr Jan Edvard Thygesen who is appointed on the same day.
Company Name: DIGI.COM BERHAD
Stock Name: DIGI
Date Announced: 29/09/2010
Announcement Detail:
Date of change: 29/09/2010
Type of change: Resignation
Designation: Member of Audit Committee
Directorate: Non Independent & Non Executive
Name: Eirik Boerve Monsen
Age: 36
Nationality: Norwegian
Qualifications: (1) Certified EFFAS Financial Analyst (AFA), Norwegian School of Economics and Business Administration (NHH) / The Norwegian Society of Financial Analysts
(2) NFF Fixed Income Analyst, The Norwegian Society of Financial Analysts
(3) State Authorised Public Accountant, Norwegian School of Economics and Business Administration (NHH)
(4) Master of Business Administration (MBA), Norwegian School of Economics and Business Administration (NHH)
(5) Master of Business and Economics (MBE/Siv.?k) with specialisation in Finance, Norwegian School of Management (BI)
Working experience and occupation: Not Applicable
Directorship of public companies (if any): None
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
Composition of Audit Committee (Name and Directorate of members after change): 1. Dato' Ab. Halim Bin Mohyiddin (Chairman) (Independent Non-Executive Director)
2. Tan Sri Leo Moggie (Independent Non-Executive Director)
3. Mr Jan Edvard Thygesen (Non-Independent Non-Executive Director)
Remarks: Mr Eirik Boerve Monsen's resignation as member of the Audit Committee member is replaced by Mr Jan Edvard Thygesen who is appointed on the same day.
DIGI - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: DIGI.COM BERHAD
Stock Name: DIGI
Date Announced: 29/09/2010
Announcement Detail:
Date of change: 29/09/2010
Type of change: Resignation
Designation: Alternate Director
Directorate: Non Independent & Non Executive
Name: Hakon Bruaset Kjol
Age: 38
Nationality: Norwegian
Qualifications: Norwegian School of Management (BI)
Working experience and occupation: He joined Telenor Group in 1995, beginning in the domestic mobile operation in Norway. Since 1999, he has been working with Telenor's international mobile business the last 9 years from Telenor's base in Asia. He was involved in merger and acquisition activities and operational development of mobile network operators in Europe and Asia during the first years in Telenor Mobile International.
Since 2002, he has worked extensively with government and public relations focusing on how Telenor can extend the benefits of mobile communications to a wider audience. He has played a key role in the development of the Group's strategy for managing the business environment and social responsible investments.
He is currently the Senior Vice President, Head of Business Environment Management, Region Asia based in Singapore.
Directorship of public companies (if any): None
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
Remarks: Mr Hakon Bruaset Kjol's position as Director remains unchanged. Meanwhile, Mr Jan Edvard Tygesen is appointed as an Alternate Director to Mr Sigve Brekke on 29 September 2010.
Company Name: DIGI.COM BERHAD
Stock Name: DIGI
Date Announced: 29/09/2010
Announcement Detail:
Date of change: 29/09/2010
Type of change: Resignation
Designation: Alternate Director
Directorate: Non Independent & Non Executive
Name: Hakon Bruaset Kjol
Age: 38
Nationality: Norwegian
Qualifications: Norwegian School of Management (BI)
Working experience and occupation: He joined Telenor Group in 1995, beginning in the domestic mobile operation in Norway. Since 1999, he has been working with Telenor's international mobile business the last 9 years from Telenor's base in Asia. He was involved in merger and acquisition activities and operational development of mobile network operators in Europe and Asia during the first years in Telenor Mobile International.
Since 2002, he has worked extensively with government and public relations focusing on how Telenor can extend the benefits of mobile communications to a wider audience. He has played a key role in the development of the Group's strategy for managing the business environment and social responsible investments.
He is currently the Senior Vice President, Head of Business Environment Management, Region Asia based in Singapore.
Directorship of public companies (if any): None
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
Remarks: Mr Hakon Bruaset Kjol's position as Director remains unchanged. Meanwhile, Mr Jan Edvard Tygesen is appointed as an Alternate Director to Mr Sigve Brekke on 29 September 2010.
DIGI - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: DIGI.COM BERHAD
Stock Name: DIGI
Date Announced: 29/09/2010
Announcement Detail:
Date of change: 29/09/2010
Type of change: Resignation
Designation: Director
Directorate: Non Independent & Non Executive
Name: Eirik Boerve Monsen
Age: 36
Nationality: Norwegian
Qualifications: (1) Certified EFFAS Financial Analyst (AFA), Norwegian School of Economics and Business Administration (NHH) / The Norwegian Society of Financial Analysts
(2) NFF Fixed Income Analyst, The Norwegian Society of Financial Analysts
(3) State Authorised Public Accountant, Norwegian School of Economics and Business Administration (NHH)
(4) Master of Business Administration (MBA), Norwegian School of Economics and Business Administration (NHH)
(5) Master of Business and Economics (MBE/Siv.?k) with specialisation in Finance, Norwegian School of Management (BI)
Working experience and occupation: Non applicable
Directorship of public companies (if any): None
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
Remarks: Mr Eirik Boerve Monsen's resignation is replaced by Mr Jan Edvard Thygesen who is appointed on the same day, 29 September 2010.
Company Name: DIGI.COM BERHAD
Stock Name: DIGI
Date Announced: 29/09/2010
Announcement Detail:
Date of change: 29/09/2010
Type of change: Resignation
Designation: Director
Directorate: Non Independent & Non Executive
Name: Eirik Boerve Monsen
Age: 36
Nationality: Norwegian
Qualifications: (1) Certified EFFAS Financial Analyst (AFA), Norwegian School of Economics and Business Administration (NHH) / The Norwegian Society of Financial Analysts
(2) NFF Fixed Income Analyst, The Norwegian Society of Financial Analysts
(3) State Authorised Public Accountant, Norwegian School of Economics and Business Administration (NHH)
(4) Master of Business Administration (MBA), Norwegian School of Economics and Business Administration (NHH)
(5) Master of Business and Economics (MBE/Siv.?k) with specialisation in Finance, Norwegian School of Management (BI)
Working experience and occupation: Non applicable
Directorship of public companies (if any): None
Family relationship with any director and/or major shareholder of the listed issuer: None
Any conflict of interests that he/she has with the listed issuer: None
Details of any interest in the securities of the listed issuer or its subsidiaries: None
Remarks: Mr Eirik Boerve Monsen's resignation is replaced by Mr Jan Edvard Thygesen who is appointed on the same day, 29 September 2010.
VS - Proposed Final Single-Tier Tax Exempt Dividend
Announcement Type: General Announcement
Company Name: V.S. INDUSTRY BERHAD
Stock Name: VS
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: Proposed Final Single-Tier Tax Exempt Dividend
Contents: The Board is pleased to announce the proposed final single-tier tax exempt dividend of 5 sen for the financial year ended 31 July 2010. The said proposed dividend is subject to the shareholders' approval at the forthcoming Annual General Meeting. The details of the book closure date and payment date will be announced at a later date.
Company Name: V.S. INDUSTRY BERHAD
Stock Name: VS
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: Proposed Final Single-Tier Tax Exempt Dividend
Contents: The Board is pleased to announce the proposed final single-tier tax exempt dividend of 5 sen for the financial year ended 31 July 2010. The said proposed dividend is subject to the shareholders' approval at the forthcoming Annual General Meeting. The details of the book closure date and payment date will be announced at a later date.
VS - 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: V.S. INDUSTRY BERHAD
Stock Name: VS
Date Announced: 29/09/2010
Announcement Detail:
Date of buy back from: 20/09/2010
Date of buy back to: 22/09/2010
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 35,000
Minimum price paid for each share purchased ($$): 1.370
Maximum price paid for each share purchased ($$): 1.400
Total amount paid for shares purchased ($$): 49,097.27
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 35,000
Total number of shares retained in treasury (units): 674,436
Number of shares purchased which were cancelled (units): 0
Total issued capital as diminished: 0
Date lodged with registrar of companies: 27/09/2010
Lodged by: Boardroom Corporate Services (Johor) Sdn. Bhd.
Company Name: V.S. INDUSTRY BERHAD
Stock Name: VS
Date Announced: 29/09/2010
Announcement Detail:
Date of buy back from: 20/09/2010
Date of buy back to: 22/09/2010
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 35,000
Minimum price paid for each share purchased ($$): 1.370
Maximum price paid for each share purchased ($$): 1.400
Total amount paid for shares purchased ($$): 49,097.27
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 35,000
Total number of shares retained in treasury (units): 674,436
Number of shares purchased which were cancelled (units): 0
Total issued capital as diminished: 0
Date lodged with registrar of companies: 27/09/2010
Lodged by: Boardroom Corporate Services (Johor) Sdn. Bhd.
VS - Quarterly rpt on consolidated results for the financial period ended 31/7/2010
Announcement Type: Financial Results
Company Name: V.S. INDUSTRY BERHAD
Stock Name: VS
Date Announced: 29/09/2010
Announcement Detail:
Financial Year End: 31/07/2010
Quarter: 4
Quarterly report for the financial period ended: 31/07/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: V.S. INDUSTRY BERHAD
Stock Name: VS
Date Announced: 29/09/2010
Announcement Detail:
Financial Year End: 31/07/2010
Quarter: 4
Quarterly report for the financial period ended: 31/07/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
TRANMIL - General Announcement
Announcement Type: General Announcement
Company Name: TRANSMILE GROUP BERHAD
Stock Name: TRANMIL
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: TRANSMILE GROUP BERHAD ("TRANSMILE" OR THE "COMPANY")
-MONTHLY ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 1 OF THE BURSA MALAYSIA SECURITIES BERHAD'S ("BURSA SECURITIES") MAIN MARKET LISTING REQUIREMENTS ("LISTING REQUIREMENTS") ("PN1") ON THE STATUS OF DEFAULT IN PAYMENT
Contents: (The abbreviations used in this announcement are the same as those previously defined in the announcements dated 30 May 2008)
We refer to the monthly announcements made since 30 May 2008 in relation to the status of default in payment and the announcement dated 26 March 2010 by the Company. Pursuant to PN1, the Company wishes to provide an update on the status of such default.
Following from the winding-up petition served on Transmile Air Services Sdn Bhd ("TAS"), a wholly-owned subsidiary of Transmile by Malaysian Trustees Berhad pursuant to Section 218 of the Companies Act 1965 ("Act") as announced on 4 June 2010, an Order was granted by the High Court of Malaya at Kuala Lumpur on 16 July 2010 pursuant to Section 176(10) of the Act, to restrain all further proceedings, and any and all actions or proceedings against Transmile and TAS for a period of ninety (90) days from 16 July 2010 ("Restraining Order"). Further details in respect of the Restraining Order are set out in the Company's announcement dated 16 July 2010.
Taking into account the abovementioned, the Company wishes to advise that it is currently working towards finalising a conclusive debt restructuring proposal with the lenders which is expected to form an integral part of the regularisation plan as set out in the Company's announcement dated 23 February 2010 pursuant to Practice Note 17 of the Listing Requirements. Further details in respect of the abovementioned will be announced in due course.
This announcement is dated 29 September 2010.
Company Name: TRANSMILE GROUP BERHAD
Stock Name: TRANMIL
Date Announced: 29/09/2010
Announcement Detail:
Type: Announcement
Subject: TRANSMILE GROUP BERHAD ("TRANSMILE" OR THE "COMPANY")
-MONTHLY ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 1 OF THE BURSA MALAYSIA SECURITIES BERHAD'S ("BURSA SECURITIES") MAIN MARKET LISTING REQUIREMENTS ("LISTING REQUIREMENTS") ("PN1") ON THE STATUS OF DEFAULT IN PAYMENT
Contents: (The abbreviations used in this announcement are the same as those previously defined in the announcements dated 30 May 2008)
We refer to the monthly announcements made since 30 May 2008 in relation to the status of default in payment and the announcement dated 26 March 2010 by the Company. Pursuant to PN1, the Company wishes to provide an update on the status of such default.
Following from the winding-up petition served on Transmile Air Services Sdn Bhd ("TAS"), a wholly-owned subsidiary of Transmile by Malaysian Trustees Berhad pursuant to Section 218 of the Companies Act 1965 ("Act") as announced on 4 June 2010, an Order was granted by the High Court of Malaya at Kuala Lumpur on 16 July 2010 pursuant to Section 176(10) of the Act, to restrain all further proceedings, and any and all actions or proceedings against Transmile and TAS for a period of ninety (90) days from 16 July 2010 ("Restraining Order"). Further details in respect of the Restraining Order are set out in the Company's announcement dated 16 July 2010.
Taking into account the abovementioned, the Company wishes to advise that it is currently working towards finalising a conclusive debt restructuring proposal with the lenders which is expected to form an integral part of the regularisation plan as set out in the Company's announcement dated 23 February 2010 pursuant to Practice Note 17 of the Listing Requirements. Further details in respect of the abovementioned will be announced in due course.
This announcement is dated 29 September 2010.
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