MAYBULK - General Announcement
Announcement Type: General Announcement
Company Name: MALAYSIAN BULK CARRIERS BERHAD
Stock Name: MAYBULK
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: Members' Voluntary Winding-Up of Wholly-Owned Subsidiary of Malaysian Bulk Carriers Berhad ("MBC" or "the Company")
Contents: Members' Voluntary Winding-Up of Wholly-Owned Subsidiary of Malaysian Bulk Carriers Berhad ("MBC" or "the Company")
Company Name: MALAYSIAN BULK CARRIERS BERHAD
Stock Name: MAYBULK
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: Members' Voluntary Winding-Up of Wholly-Owned Subsidiary of Malaysian Bulk Carriers Berhad ("MBC" or "the Company")
Contents: Members' Voluntary Winding-Up of Wholly-Owned Subsidiary of Malaysian Bulk Carriers Berhad ("MBC" or "the Company")
KPS - General Announcement
Announcement Type: General Announcement
Company Name: KUMPULAN PERANGSANG SELANGOR BERHAD
Stock Name: KPS
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: CONDITIONAL OFFER BY MENTERI BESAR SELANGOR (INCORPORATED) ("MBI") TO ACQUIRE ALL THE VOTING SHARES ("Offer Shares") IN SYARIKAT PENGELUAR AIR SUNGAI SELANGOR SDN BHD ("SPLASH")
Contents: We refer to our announcement dated 10 January 2011 pertaining to KPS's 30% owned associate company SPLASH.
SPLASH has today replied to MBI's Conditional Offer dated 6 January 2011 to acquire all the voting shares in SPLASH at a cash offer price of RM5.95 for each offer share ("MBI's Offer"), that it is unable to accept MBI's Offer as it undervalued the company and is also well below the previous offer made by the Selangor State Government ("SSG") to SPLASH dated 15 July 2009, which SPLASH had then accepted in good faith.
In the same SPLASH reply, it has also informed MBI that:-
i. SPLASH would like to renew its own offer to the SSG and Federal Government on 20 April 2010 of RM10.75 billion to consolidate the Selangor water industry with SPLASH as the 'top-to-toe' operator and consistent with the intentions of the Water Services Industry Act, 2006. SPLASH viewed that the main stumbling block thus far had been the inability to bridge the gap between what the water operators wanted (commercial value) and what the governments were prepared to pay.
ii. the critical issues outlined by SPLASH must be addressed in order for the restructuring to proceed.
iii. SPLASH was willing to work with any entity that may be proposed by the SSG or the Federal Government to undertake the restructuring, but in the event that neither Government had a preference, SPLASH was also willing to proceed immediately with its proposal.
We also wish to inform that KPS is 60% owned by Kumpulan Darul Ehsan Berhad ("KDEB") which in turn in controlled by the MBI. Accordingly, KPS nominated directors in SPLASH have abstained from deliberation and making decision in respect of the MBI's Offer pursuant to Chapter 10.08 of the Main Market Listing Requirements where the transaction is deemed to be a Related Party Transaction.
KPS will update the Exchange on further development on this matter in due course.
This announcement is dated 28 January 2011.
Company Name: KUMPULAN PERANGSANG SELANGOR BERHAD
Stock Name: KPS
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: CONDITIONAL OFFER BY MENTERI BESAR SELANGOR (INCORPORATED) ("MBI") TO ACQUIRE ALL THE VOTING SHARES ("Offer Shares") IN SYARIKAT PENGELUAR AIR SUNGAI SELANGOR SDN BHD ("SPLASH")
Contents: We refer to our announcement dated 10 January 2011 pertaining to KPS's 30% owned associate company SPLASH.
SPLASH has today replied to MBI's Conditional Offer dated 6 January 2011 to acquire all the voting shares in SPLASH at a cash offer price of RM5.95 for each offer share ("MBI's Offer"), that it is unable to accept MBI's Offer as it undervalued the company and is also well below the previous offer made by the Selangor State Government ("SSG") to SPLASH dated 15 July 2009, which SPLASH had then accepted in good faith.
In the same SPLASH reply, it has also informed MBI that:-
i. SPLASH would like to renew its own offer to the SSG and Federal Government on 20 April 2010 of RM10.75 billion to consolidate the Selangor water industry with SPLASH as the 'top-to-toe' operator and consistent with the intentions of the Water Services Industry Act, 2006. SPLASH viewed that the main stumbling block thus far had been the inability to bridge the gap between what the water operators wanted (commercial value) and what the governments were prepared to pay.
ii. the critical issues outlined by SPLASH must be addressed in order for the restructuring to proceed.
iii. SPLASH was willing to work with any entity that may be proposed by the SSG or the Federal Government to undertake the restructuring, but in the event that neither Government had a preference, SPLASH was also willing to proceed immediately with its proposal.
We also wish to inform that KPS is 60% owned by Kumpulan Darul Ehsan Berhad ("KDEB") which in turn in controlled by the MBI. Accordingly, KPS nominated directors in SPLASH have abstained from deliberation and making decision in respect of the MBI's Offer pursuant to Chapter 10.08 of the Main Market Listing Requirements where the transaction is deemed to be a Related Party Transaction.
KPS will update the Exchange on further development on this matter in due course.
This announcement is dated 28 January 2011.
SUNCITY - General Announcement
Announcement Type: General Announcement
Company Name: SUNWAY CITY BERHAD
Stock Name: SUNCITY
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: SUNWAY CITY BERHAD ("SUNCITY") - ACQUISITION OF 30% EQUITY INTEREST IN SUNWAY TUNAS SDN BHD, A 70% OWNED SUBSIDIARY OF SUNCITY AND DEED OF MUTUAL TERMINATION BETWEEN SUNCITY, KOPERASI TUNAS MUDA SUNGAI ARA BERHAD AND SUNWAY TUNAS SDN BHD
Contents: 1. INTRODUCTION
We wish to inform that SunCity had on 27 January 2011, acquired 75,000 ordinary shares of RM1/- each, representing the remaining 30% equity interest in Sunway Tunas Sdn Bhd ("STSB") from Koperasi Tunas Muda Sungai Ara Berhad ("KTM") for a total cash consideration of RM828,750/- [hereinafter referred to as "the Acquisition"]. The purchase consideration was arrived at on a willing buyer willing seller basis. As a result of the Acquisition, STSB has become a wholly-owned subsidiary of SunCity.
SunCity had on even date, entered into a Deed of Mutual Termination with KTM and STSB to mutually terminate the following agreements:-
(a) Shareholders' Agreement between SunCity, KTM and STSB dated 14 June 1995; and
(b) Joint Venture Agreement between KTM and STSB dated 24 September 1999.
2. INFORMATION ON SUNCITY, KTM AND STSB
2.1 SunCity
SunCity is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan. The authorised and paid-up share capital of SunCity are RM1,000,000,000/- and RM470,011,432/- respectively. The principal activities of SunCity are property development and investment, and investment holding.
2.2 KTM
KTM is a co-operative society registered under the Co-operative Societies Act 1993 and having its registered office at No. 126, Jalan Dato' Ismail Hashim, Taman Tunas Muda, Sungai Ara, 11900 Bayan Lepas, Penang. The share capital of KTM is RM14,792,340.88 and its principal activity is property development.
2.3 STSB
STSB, a 70% owned subsidiary of SunCity, is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan. The authorised and paid-up share capital of STSB are RM70,000,000/- and RM250,000/- respectively. The principal activity of STSB is property development.
3. BACKGROUND OF SHAREHOLDERS' AGREEMENT AND JOINT VENTURE AGREEMENT
3.1 Shareholders' Agreement
Pursuant to the Shareholders' Agreement, SunCity and KTM had agreed to subscribe for 70% and 30% respectively of the shares in STSB and to enter into certain commitments as well as to regulate their rights and responsibilities in the manner and subject to the terms and conditions of the Shareholders' Agreement.
3.2 Joint Venture Agreement
Pursuant to the Joint Venture Agreement, KTM at the request of STSB, agreed to enter into a joint venture with STSB to allow STSB to develop part of the land held under PT 3079, HS(D) 8726 Mukim 12, South West District of Penang into 5 units of double storey terrace houses, at STSB's costs and expenses.
The parties have fulfilled all their duties, obligations and undertakings under the Joint Venture Agreement, securing the performance of the Joint Venture Agreement.
4. RATIONALE FOR THE ACQUISITION AND TERMINATION OF SHAREHOLDERS' AGREEMENT AND JOINT VENTURE AGREEMENT
STSB has completed the development and now owns a completed car park building. The parties have agreed to mutually terminate the Shareholders' Agreement and Joint Venture Agreement. The Acquisition will allow SunCity to use STSB for any future new business.
5. EFFECTS OF THE ACQUISITION AND TERMINATION OF SHAREHOLDERS' AGREEMENT AND JOINT VENTURE AGREEMENT
The Acquisition and termination of the Shareholders' Agreement and Joint Venture Agreement have no material effect on SunCity's earnings per share and net assets per share. There will be no effect on the share capital and substantial shareholders' shareholding of SunCity.
6. APPROVALS REQUIRED
The Acquisition and termination of the Shareholders' Agreement and Joint Venture Agreement do not require approval from the shareholders of SunCity or any authorities.
7. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
Insofar as the Directors are aware, none of the directors or major shareholders of SunCity or persons connected with them has any interest, whether direct or indirect, in the Acquisition and termination of the Shareholders' Agreement and Joint Venture Agreement.
This announcement is dated 28 January 2011.
Company Name: SUNWAY CITY BERHAD
Stock Name: SUNCITY
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: SUNWAY CITY BERHAD ("SUNCITY") - ACQUISITION OF 30% EQUITY INTEREST IN SUNWAY TUNAS SDN BHD, A 70% OWNED SUBSIDIARY OF SUNCITY AND DEED OF MUTUAL TERMINATION BETWEEN SUNCITY, KOPERASI TUNAS MUDA SUNGAI ARA BERHAD AND SUNWAY TUNAS SDN BHD
Contents: 1. INTRODUCTION
We wish to inform that SunCity had on 27 January 2011, acquired 75,000 ordinary shares of RM1/- each, representing the remaining 30% equity interest in Sunway Tunas Sdn Bhd ("STSB") from Koperasi Tunas Muda Sungai Ara Berhad ("KTM") for a total cash consideration of RM828,750/- [hereinafter referred to as "the Acquisition"]. The purchase consideration was arrived at on a willing buyer willing seller basis. As a result of the Acquisition, STSB has become a wholly-owned subsidiary of SunCity.
SunCity had on even date, entered into a Deed of Mutual Termination with KTM and STSB to mutually terminate the following agreements:-
(a) Shareholders' Agreement between SunCity, KTM and STSB dated 14 June 1995; and
(b) Joint Venture Agreement between KTM and STSB dated 24 September 1999.
2. INFORMATION ON SUNCITY, KTM AND STSB
2.1 SunCity
SunCity is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan. The authorised and paid-up share capital of SunCity are RM1,000,000,000/- and RM470,011,432/- respectively. The principal activities of SunCity are property development and investment, and investment holding.
2.2 KTM
KTM is a co-operative society registered under the Co-operative Societies Act 1993 and having its registered office at No. 126, Jalan Dato' Ismail Hashim, Taman Tunas Muda, Sungai Ara, 11900 Bayan Lepas, Penang. The share capital of KTM is RM14,792,340.88 and its principal activity is property development.
2.3 STSB
STSB, a 70% owned subsidiary of SunCity, is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan. The authorised and paid-up share capital of STSB are RM70,000,000/- and RM250,000/- respectively. The principal activity of STSB is property development.
3. BACKGROUND OF SHAREHOLDERS' AGREEMENT AND JOINT VENTURE AGREEMENT
3.1 Shareholders' Agreement
Pursuant to the Shareholders' Agreement, SunCity and KTM had agreed to subscribe for 70% and 30% respectively of the shares in STSB and to enter into certain commitments as well as to regulate their rights and responsibilities in the manner and subject to the terms and conditions of the Shareholders' Agreement.
3.2 Joint Venture Agreement
Pursuant to the Joint Venture Agreement, KTM at the request of STSB, agreed to enter into a joint venture with STSB to allow STSB to develop part of the land held under PT 3079, HS(D) 8726 Mukim 12, South West District of Penang into 5 units of double storey terrace houses, at STSB's costs and expenses.
The parties have fulfilled all their duties, obligations and undertakings under the Joint Venture Agreement, securing the performance of the Joint Venture Agreement.
4. RATIONALE FOR THE ACQUISITION AND TERMINATION OF SHAREHOLDERS' AGREEMENT AND JOINT VENTURE AGREEMENT
STSB has completed the development and now owns a completed car park building. The parties have agreed to mutually terminate the Shareholders' Agreement and Joint Venture Agreement. The Acquisition will allow SunCity to use STSB for any future new business.
5. EFFECTS OF THE ACQUISITION AND TERMINATION OF SHAREHOLDERS' AGREEMENT AND JOINT VENTURE AGREEMENT
The Acquisition and termination of the Shareholders' Agreement and Joint Venture Agreement have no material effect on SunCity's earnings per share and net assets per share. There will be no effect on the share capital and substantial shareholders' shareholding of SunCity.
6. APPROVALS REQUIRED
The Acquisition and termination of the Shareholders' Agreement and Joint Venture Agreement do not require approval from the shareholders of SunCity or any authorities.
7. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
Insofar as the Directors are aware, none of the directors or major shareholders of SunCity or persons connected with them has any interest, whether direct or indirect, in the Acquisition and termination of the Shareholders' Agreement and Joint Venture Agreement.
This announcement is dated 28 January 2011.
TRANMIL - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: KENANGA INVESTMENT BANK BERHAD
Company Name: TRANSMILE GROUP BERHAD
Stock Name: TRANMIL
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: TRANSMILE GROUP BERHAD ("TRANSMILE" OR THE "COMPANY")
MONTHLY ANNOUNCEMENT ON STATUS OF PLAN TO REGULARISE CONDITION PURSUANT TO PRACTICE NOTE 17 OF THE BURSA MALAYSIA SECURITIES BERHAD'S ("BURSA SECURITIES") MAIN MARKET LISTING REQUIREMENTS ("PN17")
Contents: We refer to the First Announcement by Transmile dated 23 February 2010 and the announcements made by Kenanga Investment Bank Berhad, on behalf of the Board of Directors of Transmile, dated 9 March 2010, 30 March 2010, 29 April 2010, 17 May 2010, 27 May 2010, 29 June 2010, 29 July 2010, 30 August 2010, 29 September 2010, 28 October 2010, 29 November 2010 and 30 December 2010 in respect of the Company's PN17 status.
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 (the "High Court") 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, which was subsequently extended for a period of ninety (90) days from 13 October 2010, as announced on 13 October 2010. Further, as announced on 24 January 2011, the High Court had on 19 January 2011 granted a further extension of the Order for a period of ninety (90) days from 19 January 2011.
The Company has been in discussion with Transmile Group's lenders in respect of the outstanding debts of approximately RM528.95 million, but has yet to reach consensus for finalisation of a debt restructuring proposal which is expected to form a critical part of the Regularisation Plan as set out in the abovesaid First Announcement dated 23 February 2010 in respect of the Company's PN17 status. Until the debt restructuring proposal is finalised, the Company does not envisage that it would be able to attract any injection of fresh funds into the Company or be involved in any acquisition of other viable assets / businesses.
In view of the above and the timeframe of approximately one (1) month up to 23 February 2011 ("Deadline") whereby the Company is required to submit its Regularisation Plan to the relevant authorities for approval, the Company wishes to advise that it will not be able to submit a Regularisation Plan by the required Deadline. The Company will nevertheless during this period continue to engage with the lenders to, if possible, finalise a debt restructuring proposal, and to focus on the completion of the proposed disposal of its four (4) MD-11F aircraft, as announced by the Company on 10 January 2011, which is expected to significantly pare down the outstanding debt obligations.
Pursuant to the Main Market Listing Requirements ("LR"), in the event Transmile fails to submit the Regularisation Plan by the Deadline, Bursa Malaysia Securities Berhad (the "Exchange") shall:-
(a) suspend the trading of the Company's listed securities on the next market day after 5 market days from the date of notification of suspension by the Exchange; and
(b) de-list the Company subject to the latter's right to appeal against the de-listing.
To appeal against the de-listing, the Company must submit its appeal to the Exchange within 5 market days from the date of notification of delisting by the Exchange.
Where there is an appeal submitted to the Exchange, the Exchange shall stay the de-listing of Transmile pending consideration of the appeal. However, the Exchange shall suspend the trading of the Company's listed securities on the next market day after 5 market days from the date of notification of suspension by the Exchange even though the decision of the appeal is still pending. Further details in respect of the abovementioned will be announced in due course.
This announcement is dated 28 January 2011.
Submitting Merchant Bank: KENANGA INVESTMENT BANK BERHAD
Company Name: TRANSMILE GROUP BERHAD
Stock Name: TRANMIL
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: TRANSMILE GROUP BERHAD ("TRANSMILE" OR THE "COMPANY")
MONTHLY ANNOUNCEMENT ON STATUS OF PLAN TO REGULARISE CONDITION PURSUANT TO PRACTICE NOTE 17 OF THE BURSA MALAYSIA SECURITIES BERHAD'S ("BURSA SECURITIES") MAIN MARKET LISTING REQUIREMENTS ("PN17")
Contents: We refer to the First Announcement by Transmile dated 23 February 2010 and the announcements made by Kenanga Investment Bank Berhad, on behalf of the Board of Directors of Transmile, dated 9 March 2010, 30 March 2010, 29 April 2010, 17 May 2010, 27 May 2010, 29 June 2010, 29 July 2010, 30 August 2010, 29 September 2010, 28 October 2010, 29 November 2010 and 30 December 2010 in respect of the Company's PN17 status.
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 (the "High Court") 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, which was subsequently extended for a period of ninety (90) days from 13 October 2010, as announced on 13 October 2010. Further, as announced on 24 January 2011, the High Court had on 19 January 2011 granted a further extension of the Order for a period of ninety (90) days from 19 January 2011.
The Company has been in discussion with Transmile Group's lenders in respect of the outstanding debts of approximately RM528.95 million, but has yet to reach consensus for finalisation of a debt restructuring proposal which is expected to form a critical part of the Regularisation Plan as set out in the abovesaid First Announcement dated 23 February 2010 in respect of the Company's PN17 status. Until the debt restructuring proposal is finalised, the Company does not envisage that it would be able to attract any injection of fresh funds into the Company or be involved in any acquisition of other viable assets / businesses.
In view of the above and the timeframe of approximately one (1) month up to 23 February 2011 ("Deadline") whereby the Company is required to submit its Regularisation Plan to the relevant authorities for approval, the Company wishes to advise that it will not be able to submit a Regularisation Plan by the required Deadline. The Company will nevertheless during this period continue to engage with the lenders to, if possible, finalise a debt restructuring proposal, and to focus on the completion of the proposed disposal of its four (4) MD-11F aircraft, as announced by the Company on 10 January 2011, which is expected to significantly pare down the outstanding debt obligations.
Pursuant to the Main Market Listing Requirements ("LR"), in the event Transmile fails to submit the Regularisation Plan by the Deadline, Bursa Malaysia Securities Berhad (the "Exchange") shall:-
(a) suspend the trading of the Company's listed securities on the next market day after 5 market days from the date of notification of suspension by the Exchange; and
(b) de-list the Company subject to the latter's right to appeal against the de-listing.
To appeal against the de-listing, the Company must submit its appeal to the Exchange within 5 market days from the date of notification of delisting by the Exchange.
Where there is an appeal submitted to the Exchange, the Exchange shall stay the de-listing of Transmile pending consideration of the appeal. However, the Exchange shall suspend the trading of the Company's listed securities on the next market day after 5 market days from the date of notification of suspension by the Exchange even though the decision of the appeal is still pending. Further details in respect of the abovementioned will be announced in due course.
This announcement is dated 28 January 2011.
TRANMIL - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: KENANGA INVESTMENT BANK BERHAD
Company Name: TRANSMILE GROUP BERHAD
Stock Name: TRANMIL
Date Announced: 28/01/2011
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 has been granted by the High Court of Malaya at Kuala Lumpur (the "High Court") 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, which was subsequently extended for a period of ninety (90) days from 13 October 2010, as announced on 13 October 2010. Further, as announced on 24 January 2011, the High Court had on 19 January 2011 granted a further extension of the Order for a period of ninety (90) days from 19 January 2011.
The Company has been in discussion with Transmile Group's lenders in respect of the outstanding debts of approximately RM528.95 million, but has yet to reach consensus for finalisation of a debt restructuring proposal which is expected to form a critical 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. Until the debt restructuring proposal is finalised, the Company does not envisage that it would be able to attract any injection of fresh funds into the Company or be involved in any acquisition of other viable assets / businesses.
Nevertheless, the Company will continue to engage with the lenders to, if possible, finalise a debt restructuring proposal, and to focus on the completion of the proposed disposal of its four (4) MD-11F aircraft, as announced by the Company on 10 January 2011, which is expected to significantly pare down the outstanding debt obligations.
Should there be any further developments in respect of the abovementioned, the Company will make the necessary announcement accordingly.
This announcement is dated 28 January 2011.
Submitting Merchant Bank: KENANGA INVESTMENT BANK BERHAD
Company Name: TRANSMILE GROUP BERHAD
Stock Name: TRANMIL
Date Announced: 28/01/2011
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 has been granted by the High Court of Malaya at Kuala Lumpur (the "High Court") 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, which was subsequently extended for a period of ninety (90) days from 13 October 2010, as announced on 13 October 2010. Further, as announced on 24 January 2011, the High Court had on 19 January 2011 granted a further extension of the Order for a period of ninety (90) days from 19 January 2011.
The Company has been in discussion with Transmile Group's lenders in respect of the outstanding debts of approximately RM528.95 million, but has yet to reach consensus for finalisation of a debt restructuring proposal which is expected to form a critical 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. Until the debt restructuring proposal is finalised, the Company does not envisage that it would be able to attract any injection of fresh funds into the Company or be involved in any acquisition of other viable assets / businesses.
Nevertheless, the Company will continue to engage with the lenders to, if possible, finalise a debt restructuring proposal, and to focus on the completion of the proposed disposal of its four (4) MD-11F aircraft, as announced by the Company on 10 January 2011, which is expected to significantly pare down the outstanding debt obligations.
Should there be any further developments in respect of the abovementioned, the Company will make the necessary announcement accordingly.
This announcement is dated 28 January 2011.
Y&G - Y&G CORPORATION BHD ("Y&G" OR "COMPANY") - PROPOSED CORPORATE EXERCISES
Announcement Type: General Announcement
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: Y&G CORPORATION BHD
Stock Name: Y&G
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: Y&G CORPORATION BHD ("Y&G" OR "COMPANY")
- PROPOSED CORPORATE EXERCISES
Contents: Please refer to the announcement detail.
Attachments: Y&G - Adjustment of Purchase Consideration.pdf
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: Y&G CORPORATION BHD
Stock Name: Y&G
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: Y&G CORPORATION BHD ("Y&G" OR "COMPANY")
- PROPOSED CORPORATE EXERCISES
Contents: Please refer to the announcement detail.
Attachments: Y&G - Adjustment of Purchase Consideration.pdf
KHIND - PROPOSED ACQUISITION
Announcement Type: General Announcement
Company Name: KHIND HOLDINGS BERHAD
Stock Name: KHIND
Date Announced: 28/01/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: IJ-110128-38795
Subject: PROPOSED ACQUISITION
Contents: Additional information in relation to the announcement dated 27.1.2011 for the proposed acquisition of the entire equity interest of Ancom Electrical (Malaysia) Sdn Bhd ("AEM"), and Ancom Systems (Singapore) Pte Ltd ("ASS") and its wholly-owned subsidiaries namely Ancom Electrical & Environmental (Singapore) Pte Ltd ("AEE"), Ancom Electrical (Hong Kong) Limited ("AEH") and Ancom Electrical (Guangzhou) Limited ("AEG") for total cash consideration of RM8,000,000 ("Proposed Acquisition")
Query Letter content: We refer to your Company's announcement dated 27 January 2011, in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
The commencement date of business of AEM, ASS, AEE, AEH and AEG respectively;
Further elaboration on the types of electrical engineering products traded and
contracted by AEM, ASS, AEE, AEH and AEG;
The other factors that resulted in the substantial decrease in profits of AEM
in 2010, other than due to the decrease in revenue;
Elaboration on the reasons for the substantial decrease in profits of AEH in
2010;
The names of the directors and substantial shareholders of Ancom Logistics
Berhad ("ALB") together with their shareholdings in ALB;
The tabulation of the adjusted audited net assets of ALB Companies as at 31 May
2010, together with the nature/details of the adjustments and the respective
amounts;
The prospects of the electrical engineering products and industry;
Further elaboration on the benefits that are expected to accrue to the Group
pursuant to the Proposed Acquisition;
The effects of the Proposed Acquisition on the future earnings of the Group; and
The highest percentage ratio applicable to the transaction pursuant to
Paragraph 10.02(g) of the Main Market Listing Requirements. Please note that
for the purpose of calculation of the percentage ratio, the value of
consideration should include the amount of liabilities to be assumed of
RM3,626,000.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
HENG TECK HENG
Senior Manager, Issuers
Listing Division
Regulation
HTH/IJ
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Attachments: Additional Information.pdf
Company Name: KHIND HOLDINGS BERHAD
Stock Name: KHIND
Date Announced: 28/01/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: IJ-110128-38795
Subject: PROPOSED ACQUISITION
Contents: Additional information in relation to the announcement dated 27.1.2011 for the proposed acquisition of the entire equity interest of Ancom Electrical (Malaysia) Sdn Bhd ("AEM"), and Ancom Systems (Singapore) Pte Ltd ("ASS") and its wholly-owned subsidiaries namely Ancom Electrical & Environmental (Singapore) Pte Ltd ("AEE"), Ancom Electrical (Hong Kong) Limited ("AEH") and Ancom Electrical (Guangzhou) Limited ("AEG") for total cash consideration of RM8,000,000 ("Proposed Acquisition")
Query Letter content: We refer to your Company's announcement dated 27 January 2011, in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
The commencement date of business of AEM, ASS, AEE, AEH and AEG respectively;
Further elaboration on the types of electrical engineering products traded and
contracted by AEM, ASS, AEE, AEH and AEG;
The other factors that resulted in the substantial decrease in profits of AEM
in 2010, other than due to the decrease in revenue;
Elaboration on the reasons for the substantial decrease in profits of AEH in
2010;
The names of the directors and substantial shareholders of Ancom Logistics
Berhad ("ALB") together with their shareholdings in ALB;
The tabulation of the adjusted audited net assets of ALB Companies as at 31 May
2010, together with the nature/details of the adjustments and the respective
amounts;
The prospects of the electrical engineering products and industry;
Further elaboration on the benefits that are expected to accrue to the Group
pursuant to the Proposed Acquisition;
The effects of the Proposed Acquisition on the future earnings of the Group; and
The highest percentage ratio applicable to the transaction pursuant to
Paragraph 10.02(g) of the Main Market Listing Requirements. Please note that
for the purpose of calculation of the percentage ratio, the value of
consideration should include the amount of liabilities to be assumed of
RM3,626,000.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
HENG TECK HENG
Senior Manager, Issuers
Listing Division
Regulation
HTH/IJ
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Attachments: Additional Information.pdf
SEACERA - General Announcement
Announcement Type: General Announcement
Company Name: SEACERA TILES BERHAD
Stock Name: SEACERA
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: Seacera Tiles Berhad ("STB")
- Termination of Memorandum of Understanding with Mydin Mohamed Holdings Berhad
Contents: Further to the announcement made on 29 December 2010 in relation to the signing of the Memorandum of Understanding ("MOU") with Mydin Mohamed Holdings Berhad, the Board of Directors of STB wishes to announce that both parties have agreed to mutually terminate the MOU.
Following the mutual termination of the MOU, none of the parties shall be entitled to make any claim against the other party for any loss or damage on account of such termination.
This announcement is dated 28 January 2011.
Company Name: SEACERA TILES BERHAD
Stock Name: SEACERA
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: Seacera Tiles Berhad ("STB")
- Termination of Memorandum of Understanding with Mydin Mohamed Holdings Berhad
Contents: Further to the announcement made on 29 December 2010 in relation to the signing of the Memorandum of Understanding ("MOU") with Mydin Mohamed Holdings Berhad, the Board of Directors of STB wishes to announce that both parties have agreed to mutually terminate the MOU.
Following the mutual termination of the MOU, none of the parties shall be entitled to make any claim against the other party for any loss or damage on account of such termination.
This announcement is dated 28 January 2011.
UCHITEC - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: UCHI TECHNOLOGIES BERHAD
Stock Name: UCHITEC
Date Announced: 28/01/2011
Announcement Detail:
Date of buy back: 28/01/2011
Description of shares purchased: Ordinary shares of RM0.20 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 200,000
Minimum price paid for each share purchased ($$): 1.290
Maximum price paid for each share purchased ($$): 1.300
Total consideration paid ($$): 259,821.60
Number of shares purchased retained in treasury (units): 200,000
Cumulative net outstanding treasury shares as at to-date (units): 5,617,700
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.49
Company Name: UCHI TECHNOLOGIES BERHAD
Stock Name: UCHITEC
Date Announced: 28/01/2011
Announcement Detail:
Date of buy back: 28/01/2011
Description of shares purchased: Ordinary shares of RM0.20 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 200,000
Minimum price paid for each share purchased ($$): 1.290
Maximum price paid for each share purchased ($$): 1.300
Total consideration paid ($$): 259,821.60
Number of shares purchased retained in treasury (units): 200,000
Cumulative net outstanding treasury shares as at to-date (units): 5,617,700
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.49
HAISAN - General Announcement
Announcement Type: General Announcement
Company Name: HAISAN RESOURCES BERHAD
Stock Name: HAISAN
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: HAISAN RESOURCES BERHAD ("HAISAN" OR THE "COMPANY")
PROPOSED DISPOSAL BY IGLO (SHANGHAI) CO., LTD ("IGLO SH"), THE INDIRECT WHOLLY-OWNED SUBSIDIARY OF HAISAN, OF A PIECE OF LEASEHOLD INDUSTRIAL LAND TOGETHER WITH A COLD STORAGE WAREHOUSE BUILDING WITH ANCILLARY FACILITIES ERECTED THEREON ("PROPERTY"), AND THE MACHINERY AND EQUIPMENT ("EQUIPMENT") TO SHANGHAI CANG SHUO COLD STORAGE CO., LTD ("SCSCS") FOR A CASH CONSIDERATION OF RMB96.0 MILLION AND RMB22.0 MILLION RESPECTIVELY ("PROPOSED DISPOSAL"), AND THE SUBSEQUENT LEASEBACK BY IGLO SH OF THE PROPERTY AND EQUIPMENT FROM SCSCS ("PROPOSED SALE AND LEASEBACK")
Contents: Please refer to the attachment for the details of the announcement.
Attachments: Bursa Announcement - Sale & Leaseback 280111.pdf
Company Name: HAISAN RESOURCES BERHAD
Stock Name: HAISAN
Date Announced: 28/01/2011
Announcement Detail:
Type: Announcement
Subject: HAISAN RESOURCES BERHAD ("HAISAN" OR THE "COMPANY")
PROPOSED DISPOSAL BY IGLO (SHANGHAI) CO., LTD ("IGLO SH"), THE INDIRECT WHOLLY-OWNED SUBSIDIARY OF HAISAN, OF A PIECE OF LEASEHOLD INDUSTRIAL LAND TOGETHER WITH A COLD STORAGE WAREHOUSE BUILDING WITH ANCILLARY FACILITIES ERECTED THEREON ("PROPERTY"), AND THE MACHINERY AND EQUIPMENT ("EQUIPMENT") TO SHANGHAI CANG SHUO COLD STORAGE CO., LTD ("SCSCS") FOR A CASH CONSIDERATION OF RMB96.0 MILLION AND RMB22.0 MILLION RESPECTIVELY ("PROPOSED DISPOSAL"), AND THE SUBSEQUENT LEASEBACK BY IGLO SH OF THE PROPERTY AND EQUIPMENT FROM SCSCS ("PROPOSED SALE AND LEASEBACK")
Contents: Please refer to the attachment for the details of the announcement.
Attachments: Bursa Announcement - Sale & Leaseback 280111.pdf
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