ARREIT - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: AMANAHRAYA REAL ESTATE INVESTMENT TRUST
Stock Name: ARREIT
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Resignation
Designation: Non-Executive Director
Directorate: Non Independent & Non Executive
Name: Abas Bin Abd Jalil
Age: 30
Nationality: Malaysian
Qualifications: Bachelor of Science (Honours) in Property Management, Universiti Teknologi Malaysia
Working experience and occupation: 1. 2010 to present - Chief Operating Officer, Amanah Raya Capital Group Sdn Bhd
2. 2009 to 2010 - Chief Operating Officer, AmanahRaya-REIT Managers Sdn Bhd
3. 2005 - 2009 - Head, Property Investment & REIT, AmanahRaya-JMF Asset Management Sdn Bhd
(Currently known as Amanah Raya Investment Management Sdn Bhd)
4. 2003 to 2005 - Executive, Asset Valuation, Tenaga Nasional Berhad
5. 2003 - Management Trainee, Golden Hope Plantations Berhad
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
Company Name: AMANAHRAYA REAL ESTATE INVESTMENT TRUST
Stock Name: ARREIT
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Resignation
Designation: Non-Executive Director
Directorate: Non Independent & Non Executive
Name: Abas Bin Abd Jalil
Age: 30
Nationality: Malaysian
Qualifications: Bachelor of Science (Honours) in Property Management, Universiti Teknologi Malaysia
Working experience and occupation: 1. 2010 to present - Chief Operating Officer, Amanah Raya Capital Group Sdn Bhd
2. 2009 to 2010 - Chief Operating Officer, AmanahRaya-REIT Managers Sdn Bhd
3. 2005 - 2009 - Head, Property Investment & REIT, AmanahRaya-JMF Asset Management Sdn Bhd
(Currently known as Amanah Raya Investment Management Sdn Bhd)
4. 2003 to 2005 - Executive, Asset Valuation, Tenaga Nasional Berhad
5. 2003 - Management Trainee, Golden Hope Plantations Berhad
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
HAISAN - PRACTICE NOTE 17 / GUIDANCE NOTE 3: OTHERS
Announcement Type: General Announcement
Company Name: HAISAN RESOURCES BERHAD
Stock Name: HAISAN
Date Announced: 23/08/2011
Announcement Detail:
Type: Announcement
Subject: PRACTICE NOTE 17 / GUIDANCE NOTE 3
OTHERS
Description: HAISAN RESOURCES BERHAD ("HAISAN" OR "THE COMPANY")
- APPEAL AGAINST THE DECISION OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") TO REJECT THE COMPANY'S APPLICATION FOR AN EXTENSION OF TIME TO SUBMIT ITS REGULARISATION PLAN TO THE RELEVANT AUTHORITIES ("APPLICATION")
Attachments: 2011.8.23 Announcement-PN17 (Appeal).pdf
Company Name: HAISAN RESOURCES BERHAD
Stock Name: HAISAN
Date Announced: 23/08/2011
Announcement Detail:
Type: Announcement
Subject: PRACTICE NOTE 17 / GUIDANCE NOTE 3
OTHERS
Description: HAISAN RESOURCES BERHAD ("HAISAN" OR "THE COMPANY")
- APPEAL AGAINST THE DECISION OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") TO REJECT THE COMPANY'S APPLICATION FOR AN EXTENSION OF TIME TO SUBMIT ITS REGULARISATION PLAN TO THE RELEVANT AUTHORITIES ("APPLICATION")
Attachments: 2011.8.23 Announcement-PN17 (Appeal).pdf
TRACOMA - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Appointment
Designation: Non-Executive Director
Directorate: Non Independent & Non Executive
Name: Amir Reza bin Mohamed Shah
Age: 30
Nationality: Malaysia
Qualifications: Bachelor of Science in Computer and Information Technology, Edith Cowan University, Perth , Australia.
Working experience and occupation: Amir Reza bin Mohamed Shah is currently a new substantial shareholder of Tracoma Holdings Berhad, at aged 30. He graduated with Bachelor of Science, in Computer and Information Technology from Edith Cowan University of Western Australia. He successfully completed training with AOTS, a training course for Competitive Advantage of Malaysia Automotive Parts Industry in Fukuoka, Japan in year 2009. He started his career in Tracoma Sdn Bhd as IT Executive in 2004, which a year later he was promoted to department head, Production Planning and Control. In year 2008, he had been appointed to lead Purchasing department for the group, and a year later was appointed as Personal Assistant to Chief Executive Officer. Previously, he was also the Head of Company of Tracoma Sdn Bhd, of which he was appointed in 2010.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Amir Reza Mohamed Shah is the nephew of Mohamed Seth Dato' Abu Bakar, who is a Director and major shareholder of Tracoma Holdings Berhad.
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: Direct interest - 10,651,385 shares in Tracoma
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Appointment
Designation: Non-Executive Director
Directorate: Non Independent & Non Executive
Name: Amir Reza bin Mohamed Shah
Age: 30
Nationality: Malaysia
Qualifications: Bachelor of Science in Computer and Information Technology, Edith Cowan University, Perth , Australia.
Working experience and occupation: Amir Reza bin Mohamed Shah is currently a new substantial shareholder of Tracoma Holdings Berhad, at aged 30. He graduated with Bachelor of Science, in Computer and Information Technology from Edith Cowan University of Western Australia. He successfully completed training with AOTS, a training course for Competitive Advantage of Malaysia Automotive Parts Industry in Fukuoka, Japan in year 2009. He started his career in Tracoma Sdn Bhd as IT Executive in 2004, which a year later he was promoted to department head, Production Planning and Control. In year 2008, he had been appointed to lead Purchasing department for the group, and a year later was appointed as Personal Assistant to Chief Executive Officer. Previously, he was also the Head of Company of Tracoma Sdn Bhd, of which he was appointed in 2010.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Amir Reza Mohamed Shah is the nephew of Mohamed Seth Dato' Abu Bakar, who is a Director and major shareholder of Tracoma Holdings Berhad.
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: Direct interest - 10,651,385 shares in Tracoma
TRACOMA - PUBLIC SHAREHOLDINGS SPREAD
Announcement Type: General Announcement
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Type: Announcement
Subject: PUBLIC SHAREHOLDINGS SPREAD
Description: TRACOMA HOLDINGS BERHAD ("Tracoma" or "the Company")
- Quarterly Status Announcement Of Compliance With Public Shareholdings Spread Requirement Pursuant To Paragraph 8.02(1) of The Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Main LR")
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Type: Announcement
Subject: PUBLIC SHAREHOLDINGS SPREAD
Description: TRACOMA HOLDINGS BERHAD ("Tracoma" or "the Company")
- Quarterly Status Announcement Of Compliance With Public Shareholdings Spread Requirement Pursuant To Paragraph 8.02(1) of The Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Main LR")
TRACOMA - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Non Independent & Non Executive
Name: Amir Reza bin Mohamed Shah
Age: 30
Nationality: Malaysia
Qualifications: Bachelor of Science in Computer and Information Technology, Edith Cowan University, Perth , Australia.
Working experience and occupation: Amir Reza bin Mohamed Shah is currently a new substantial shareholder of Tracoma Holdings Berhad, at aged 30. He graduated with Bachelor of Science, in Computer and Information Technology from Edith Cowan University of Western Australia. He successfully completed training with AOTS, a training course for Competitive Advantage of Malaysia Automotive Parts Industry in Fukuoka, Japan in year 2009. He started his career in Tracoma Sdn Bhd as IT Executive in 2004, which a year later he was promoted to department head, Production Planning and Control. In year 2008, he had been appointed to lead Purchasing department for the group, and a year later was appointed as Personal Assistant to Chief Executive Officer. Previously, he was also the Head of Company of Tracoma Sdn Bhd, of which he was appointed in 2010.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Amir Reza Mohamed Shah is the nephew of Mohamed Seth Dato' Abu Bakar, who is a Director and major shareholder of Tracoma Holdings Berhad.
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: Direct interest - 10,651,385 shares in Tracoma
Composition of Audit Committee (Name and Directorate of members after change): Chairman:
Mr Ong Tee Kein (Independent & Non-Executive Director)
Members:
Dato' Ir Dr A. Bakar Jaafar (Chairman, Independent & Non-Executive Director)
Amir Reza Mohamed Shah (Non-Independent & Non-Executive Director)
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Non Independent & Non Executive
Name: Amir Reza bin Mohamed Shah
Age: 30
Nationality: Malaysia
Qualifications: Bachelor of Science in Computer and Information Technology, Edith Cowan University, Perth , Australia.
Working experience and occupation: Amir Reza bin Mohamed Shah is currently a new substantial shareholder of Tracoma Holdings Berhad, at aged 30. He graduated with Bachelor of Science, in Computer and Information Technology from Edith Cowan University of Western Australia. He successfully completed training with AOTS, a training course for Competitive Advantage of Malaysia Automotive Parts Industry in Fukuoka, Japan in year 2009. He started his career in Tracoma Sdn Bhd as IT Executive in 2004, which a year later he was promoted to department head, Production Planning and Control. In year 2008, he had been appointed to lead Purchasing department for the group, and a year later was appointed as Personal Assistant to Chief Executive Officer. Previously, he was also the Head of Company of Tracoma Sdn Bhd, of which he was appointed in 2010.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Amir Reza Mohamed Shah is the nephew of Mohamed Seth Dato' Abu Bakar, who is a Director and major shareholder of Tracoma Holdings Berhad.
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: Direct interest - 10,651,385 shares in Tracoma
Composition of Audit Committee (Name and Directorate of members after change): Chairman:
Mr Ong Tee Kein (Independent & Non-Executive Director)
Members:
Dato' Ir Dr A. Bakar Jaafar (Chairman, Independent & Non-Executive Director)
Amir Reza Mohamed Shah (Non-Independent & Non-Executive Director)
TRACOMA - Quarterly rpt on consolidated results for the financial period ended 30/6/2011
Announcement Type: Financial Results
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Financial Year End: 31/12/2011
Quarter: 2
Quarterly report for the financial period ended: 30/06/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: TRACOMA HOLDINGS BERHAD
Stock Name: TRACOMA
Date Announced: 23/08/2011
Announcement Detail:
Financial Year End: 31/12/2011
Quarter: 2
Quarterly report for the financial period ended: 30/06/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
JADI - Quarterly rpt on consolidated results for the financial period ended 30/6/2011
Announcement Type: Financial Results
Company Name: JADI IMAGING HOLDINGS BERHAD
Stock Name: JADI
Date Announced: 23/08/2011
Announcement Detail:
Financial Year End: 31/12/2011
Quarter: 2
Quarterly report for the financial period ended: 30/06/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: JADI IMAGING HOLDINGS BERHAD
Stock Name: JADI
Date Announced: 23/08/2011
Announcement Detail:
Financial Year End: 31/12/2011
Quarter: 2
Quarterly report for the financial period ended: 30/06/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
DIALOG - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: DIALOG GROUP BERHAD
Stock Name: DIALOG
Date Announced: 23/08/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: CY-110822-58080
Subject: DIALOG GROUP BERHAD ("DIALOG" OR THE "COMPANY")
- PROPOSED RIGHTS ISSUE WITH WARRANTS; AND
- PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Description: We refer to the Company's announcement dated 18 August 2011 in respect of the Proposals ("Announcement"). As requested, on behalf of the Board, AmInvestment Bank is pleased to provide the following additional information for public release. The definitions used in the aforesaid Announcement will apply to this announcement.
1. Basis of determining the indicative issue price of RM1.60 per Rights Share or the discount rate of 34.7%
The indicative issue price of RM1.60 represents a discount rate of 34.7% to the theoretical ex-rights price of approximately RM2.45 based on the five (5)-day volume weighted average market price of Dialog Shares up to and including 17 August 2011 (being the last trading day prior to the date of announcement of the Proposed Rights Issue with Warrants) of RM2.6193.
The Board is of the view that this discount will provide all existing Shareholders with an attractive opportunity to further increase their equity participation in the Company at a discount to the prevailing market price of Dialog Shares, taking into consideration the current and future prospects of Dialog Group.
Notwithstanding that, the final issue price for the Rights Shares shall be determined and announced by the Board after obtaining shareholders' approval and relevant authorities' approval but before the Entitlement Date. The Board will reevaluate the then prevailing market conditions as well as the funding requirements of Dialog Group, amongst others, in arriving at an appropriate discount rate for the final issue price of the Rights Shares.
2. Basis of determining the indicative exercise price of RM2.20 for the Warrants or the discount rate of 10.2%
The indicative exercise price of RM2.20 which represents a discount rate of approximately 10.2% to the theoretical ex-rights price of approximately RM2.45 based on the five (5)-day volume weighted average market price of Dialog Shares up to and including 17 August 2011 (being the last trading day prior to the date of announcement of the Proposed Rights Issue with Warrants) of RM2.6193, will render the Warrants to be "in-the-money".
The Board is of the view that this discount will provide an added incentive for Shareholders to subscribe for their entitlement and to further participate in the equity of Dialog, upon exercising the free Warrants.
Notwithstanding that, the final exercise price for the Warrants shall be determined and announced by the Board after obtaining shareholders' approval and relevant authorities' approval but before the Entitlement Date. The Board will reevaluate the then prevailing market conditions as well as the funding requirements of Dialog Group, amongst others, in arriving at an appropriate discount rate for the final exercise price of the Warrants.
3. To quantify Dialog's portion in the estimated total cost of the SFRSC
The Contractor Group, which comprises Dialog D & P (32%), Roc Oil (48%) and PETRONAS Carigali (20%) will manage, operate and develop the SFRSC via an incorporated joint venture company ("JVC"). The JVC will secure project financing for the development and production of the Balai Cluster Fields under the SFRSC.
The pre-development phase is scheduled to commence in the second half of 2011 and is expected to take up to 18 months. Pre-development activities are planned to include geological and geophysical works, the drilling and testing of appraisal wells and the procurement of related facilities and equipment.
The total cost of the pre-development phase is estimated to be between USD200 - 250 million. Based on estimated 70% project financing debt and 30% equity, the JVC will fund the cost of the pre-development phase with project financing debts of between USD140 - 175 million, and the balance with equity of between USD60 - 75 million. The equity in the JVC will consist of mainly advances from shareholders and the balance of subscription of shares by shareholders. Dialog's portion in the equity of the JVC is between USD19 - 24 million (equivalent to RM57 - 71 million based on an exchange rate of RM2.9755 : USD1).
Upon the successful completion of the pre-development phase and agreement on the economic viability of the fields, the Contractor Group will submit a field development plan for all or some of the fields and progress to the development phase. Production from all the fields in the cluster is planned to be online within 24 months from the commencement of the development programme. Development activities are planned to include the drilling of wells, the installation of platforms, topsides and pipelines and tie up of the new facilities to existing PETRONAS Carigali infrastructure as appropriate.
The total cost of the development phase is estimated to be between USD650 - 700 million. Based on estimated 70% project financing debt and 30% equity, the JVC will fund the cost of the development phase with project financing debts of between USD455 - 490 million, and the balance with equity of between USD195 - 210 million. The equity in the JVC will consist of mainly advances from shareholders and the balance of subscription of shares by shareholders. Arising from the development phase, Dialog's additional portion in the equity of JVC is between USD62 - 67 million (equivalent to RM184 - 199 million based on an exchange rate of RM2.9755 : USD1).
4. To quantify separately the amount to be allocated for the Small Field Risk Service Contract ("SFRSC") stated in Section 2.5 and other upstream oil and gas activities, and a brief description of the upstream oil and gas activities
As disclosed in the reply to the third query above, Dialog Group intends to utilise approximately RM57 - 71 million from the proceeds of the Proposed Rights Issue with Warrants for the pre-development phase of the SFRSC and approximately RM184 - 199 million from the proceeds of the Proposed Rights Issue with Warrants for its development phase.
Hence, the balance of the allocated amount for the upstream oil and gas activities, including risk service contracts, is to be utilised for additional investments in upstream oil and gas opportunities.
Dialog's upstream oil and gas activities are to focus on the development and production of petroleum. The activities comprise, amongst others, engineering design, hook-up and commissioning, fabrication, installation of platforms, topsides and pipelines, and maintenance as well as supply of specialist products and services including base oil.
Other than the SFRSC secured from PETRONAS on 16 August 2011, the Group has yet to enter into any other risk service contracts at this juncture and the purpose for raising capital is to strengthen the Group's financial position to enable it to undertake additional investments in upstream oil and gas opportunities. In addition, this will also enable Dialog to work with international players in upstream oil and gas activities in Malaysia as well as overseas in the future. Dialog will make the appropriate announcement as and when it secures upstream oil and gas contracts.
5. To quantify separately the amount to be allocated for the Pengerang terminals and other terminals, and a brief description of the other terminals
Dialog Group intends to utilise the amount allocated for the development of tank terminals for the first phase and future phases of Pengerang independent deepwater tank terminals. Dialog will make the appropriate announcement as and when it secures these contracts. Pengerang Independent Terminals Sdn Bhd ("SPV") undertakes the design and development of the first phase. SPV is 90% owned by Pengerang Terminals Sdn Bhd (in which Dialog's wholly owned subsidiary Dialog Pengerang Sdn Bhd owns 51% and the balance 49% is owned by Vopak Terminal Pengerang BV, which is part of Royal Vopak group) and the balance 10% is owned by the State Secretary, Johor (Incorporated).
This announcement is dated 23 August 2011.
Query Letter content: We refer to your Company's announcement dated 18 August 2011 in respect of the
aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
basis of determining the indicative issue price of RM1.60 per Right Share or
the discount rate of 34.7%.
basis of determining the indicative exercise price of RM2.20 for the Warrants
or the discount rate of 10.2%.
the quantify separately the amount to be allocated for the Small Field Risk
Service Contract ("SFRSC") stated in section 2.5 and other upstream oil and gas
activities, and a brief description of the upstream oil and gas activities.
to quantify Dialog's portion in the estimated total cost of the SFRSC.
the quantify separately the amount to be allocated for the Pengerang terminals
and other terminals, and a brief description of the other terminals.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
KHOO KAY KWAN
Head, Issuers
Listing Division
Regulation
/WCY
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: DIALOG GROUP BERHAD
Stock Name: DIALOG
Date Announced: 23/08/2011
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: CY-110822-58080
Subject: DIALOG GROUP BERHAD ("DIALOG" OR THE "COMPANY")
- PROPOSED RIGHTS ISSUE WITH WARRANTS; AND
- PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Description: We refer to the Company's announcement dated 18 August 2011 in respect of the Proposals ("Announcement"). As requested, on behalf of the Board, AmInvestment Bank is pleased to provide the following additional information for public release. The definitions used in the aforesaid Announcement will apply to this announcement.
1. Basis of determining the indicative issue price of RM1.60 per Rights Share or the discount rate of 34.7%
The indicative issue price of RM1.60 represents a discount rate of 34.7% to the theoretical ex-rights price of approximately RM2.45 based on the five (5)-day volume weighted average market price of Dialog Shares up to and including 17 August 2011 (being the last trading day prior to the date of announcement of the Proposed Rights Issue with Warrants) of RM2.6193.
The Board is of the view that this discount will provide all existing Shareholders with an attractive opportunity to further increase their equity participation in the Company at a discount to the prevailing market price of Dialog Shares, taking into consideration the current and future prospects of Dialog Group.
Notwithstanding that, the final issue price for the Rights Shares shall be determined and announced by the Board after obtaining shareholders' approval and relevant authorities' approval but before the Entitlement Date. The Board will reevaluate the then prevailing market conditions as well as the funding requirements of Dialog Group, amongst others, in arriving at an appropriate discount rate for the final issue price of the Rights Shares.
2. Basis of determining the indicative exercise price of RM2.20 for the Warrants or the discount rate of 10.2%
The indicative exercise price of RM2.20 which represents a discount rate of approximately 10.2% to the theoretical ex-rights price of approximately RM2.45 based on the five (5)-day volume weighted average market price of Dialog Shares up to and including 17 August 2011 (being the last trading day prior to the date of announcement of the Proposed Rights Issue with Warrants) of RM2.6193, will render the Warrants to be "in-the-money".
The Board is of the view that this discount will provide an added incentive for Shareholders to subscribe for their entitlement and to further participate in the equity of Dialog, upon exercising the free Warrants.
Notwithstanding that, the final exercise price for the Warrants shall be determined and announced by the Board after obtaining shareholders' approval and relevant authorities' approval but before the Entitlement Date. The Board will reevaluate the then prevailing market conditions as well as the funding requirements of Dialog Group, amongst others, in arriving at an appropriate discount rate for the final exercise price of the Warrants.
3. To quantify Dialog's portion in the estimated total cost of the SFRSC
The Contractor Group, which comprises Dialog D & P (32%), Roc Oil (48%) and PETRONAS Carigali (20%) will manage, operate and develop the SFRSC via an incorporated joint venture company ("JVC"). The JVC will secure project financing for the development and production of the Balai Cluster Fields under the SFRSC.
The pre-development phase is scheduled to commence in the second half of 2011 and is expected to take up to 18 months. Pre-development activities are planned to include geological and geophysical works, the drilling and testing of appraisal wells and the procurement of related facilities and equipment.
The total cost of the pre-development phase is estimated to be between USD200 - 250 million. Based on estimated 70% project financing debt and 30% equity, the JVC will fund the cost of the pre-development phase with project financing debts of between USD140 - 175 million, and the balance with equity of between USD60 - 75 million. The equity in the JVC will consist of mainly advances from shareholders and the balance of subscription of shares by shareholders. Dialog's portion in the equity of the JVC is between USD19 - 24 million (equivalent to RM57 - 71 million based on an exchange rate of RM2.9755 : USD1).
Upon the successful completion of the pre-development phase and agreement on the economic viability of the fields, the Contractor Group will submit a field development plan for all or some of the fields and progress to the development phase. Production from all the fields in the cluster is planned to be online within 24 months from the commencement of the development programme. Development activities are planned to include the drilling of wells, the installation of platforms, topsides and pipelines and tie up of the new facilities to existing PETRONAS Carigali infrastructure as appropriate.
The total cost of the development phase is estimated to be between USD650 - 700 million. Based on estimated 70% project financing debt and 30% equity, the JVC will fund the cost of the development phase with project financing debts of between USD455 - 490 million, and the balance with equity of between USD195 - 210 million. The equity in the JVC will consist of mainly advances from shareholders and the balance of subscription of shares by shareholders. Arising from the development phase, Dialog's additional portion in the equity of JVC is between USD62 - 67 million (equivalent to RM184 - 199 million based on an exchange rate of RM2.9755 : USD1).
4. To quantify separately the amount to be allocated for the Small Field Risk Service Contract ("SFRSC") stated in Section 2.5 and other upstream oil and gas activities, and a brief description of the upstream oil and gas activities
As disclosed in the reply to the third query above, Dialog Group intends to utilise approximately RM57 - 71 million from the proceeds of the Proposed Rights Issue with Warrants for the pre-development phase of the SFRSC and approximately RM184 - 199 million from the proceeds of the Proposed Rights Issue with Warrants for its development phase.
Hence, the balance of the allocated amount for the upstream oil and gas activities, including risk service contracts, is to be utilised for additional investments in upstream oil and gas opportunities.
Dialog's upstream oil and gas activities are to focus on the development and production of petroleum. The activities comprise, amongst others, engineering design, hook-up and commissioning, fabrication, installation of platforms, topsides and pipelines, and maintenance as well as supply of specialist products and services including base oil.
Other than the SFRSC secured from PETRONAS on 16 August 2011, the Group has yet to enter into any other risk service contracts at this juncture and the purpose for raising capital is to strengthen the Group's financial position to enable it to undertake additional investments in upstream oil and gas opportunities. In addition, this will also enable Dialog to work with international players in upstream oil and gas activities in Malaysia as well as overseas in the future. Dialog will make the appropriate announcement as and when it secures upstream oil and gas contracts.
5. To quantify separately the amount to be allocated for the Pengerang terminals and other terminals, and a brief description of the other terminals
Dialog Group intends to utilise the amount allocated for the development of tank terminals for the first phase and future phases of Pengerang independent deepwater tank terminals. Dialog will make the appropriate announcement as and when it secures these contracts. Pengerang Independent Terminals Sdn Bhd ("SPV") undertakes the design and development of the first phase. SPV is 90% owned by Pengerang Terminals Sdn Bhd (in which Dialog's wholly owned subsidiary Dialog Pengerang Sdn Bhd owns 51% and the balance 49% is owned by Vopak Terminal Pengerang BV, which is part of Royal Vopak group) and the balance 10% is owned by the State Secretary, Johor (Incorporated).
This announcement is dated 23 August 2011.
Query Letter content: We refer to your Company's announcement dated 18 August 2011 in respect of the
aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-
basis of determining the indicative issue price of RM1.60 per Right Share or
the discount rate of 34.7%.
basis of determining the indicative exercise price of RM2.20 for the Warrants
or the discount rate of 10.2%.
the quantify separately the amount to be allocated for the Small Field Risk
Service Contract ("SFRSC") stated in section 2.5 and other upstream oil and gas
activities, and a brief description of the upstream oil and gas activities.
to quantify Dialog's portion in the estimated total cost of the SFRSC.
the quantify separately the amount to be allocated for the Pengerang terminals
and other terminals, and a brief description of the other terminals.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
KHOO KAY KWAN
Head, Issuers
Listing Division
Regulation
/WCY
copy to:- General Manager & Head, Market Surveillance, Securities Commission
(via fax)
HEXAGON - Quarterly rpt on consolidated results for the financial period ended 30/6/2011
Announcement Type: Financial Results
Company Name: HEXAGON HOLDINGS BHD
Stock Name: HEXAGON
Date Announced: 23/08/2011
Announcement Detail:
Financial Year End: 31/03/2012
Quarter: 1
Quarterly report for the financial period ended: 30/06/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: HEXAGON HOLDINGS BHD
Stock Name: HEXAGON
Date Announced: 23/08/2011
Announcement Detail:
Financial Year End: 31/03/2012
Quarter: 1
Quarterly report for the financial period ended: 30/06/2011
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
HEXAGON - Change Of Company Secretary
Announcement Type: Change Of Company Secretary
Company Name: HEXAGON HOLDINGS BHD
Stock Name: HEXAGON
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Resignation
Designation: Joint Secretary
License no.: MAICSA 7045521
Name: Tan Enk Purn
Working experience and occupation during past 5 years: Corporate Secretarial Practice
Company Name: HEXAGON HOLDINGS BHD
Stock Name: HEXAGON
Date Announced: 23/08/2011
Announcement Detail:
Date of change: 23/08/2011
Type of change: Resignation
Designation: Joint Secretary
License no.: MAICSA 7045521
Name: Tan Enk Purn
Working experience and occupation during past 5 years: Corporate Secretarial Practice
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