November 27, 2013

Company announcements: HIL, SALCON, FFHB, EKOVEST, FRB-WA, EKSONS, SANBUMI, FPI, FITTERS

HIL - Quarterly rpt on consolidated results for the financial period ended 30/9/2013

Announcement Type: Financial Results
Company NameHIL INDUSTRIES BERHAD  
Stock Name HIL  
Date Announced27 Nov 2013  
CategoryFinancial Results
Reference NoHI-131125-680A0

Financial Year End31/12/2013
Quarter3
Quarterly report for the financial period ended30/09/2013
The figureshave not been audited

Attachments

HIB_Q3_ 300913.pdf
271 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2013
30/09/2012
30/09/2013
30/09/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
21,122
17,747
57,953
57,960
2Profit/(loss) before tax
1,654
333
2,620
930
3Profit/(loss) for the period
724
-441
568
-1,041
4Profit/(loss) attributable to ordinary equity holders of the parent
739
-476
676
-1,092
5Basic earnings/(loss) per share (Subunit)
0.27
-0.17
0.24
-0.39
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.9800
0.9700
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


SALCON - Quarterly rpt on consolidated results for the financial period ended 30/9/2013

Announcement Type: Financial Results
Company NameSALCON BERHAD  
Stock Name SALCON  
Date Announced27 Nov 2013  
CategoryFinancial Results
Reference NoCK-131126-56352

Financial Year End31/12/2013
Quarter3
Quarterly report for the financial period ended30/09/2013
The figureshave not been audited

Attachments

SB 3rd Qtr 2013.pdf
318 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2013
30/09/2012
30/09/2013
30/09/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
74,142
84,163
212,506
232,828
2Profit/(loss) before tax
10,954
5,848
31,853
19,071
3Profit/(loss) for the period
8,393
4,757
24,531
15,128
4Profit/(loss) attributable to ordinary equity holders of the parent
590
418
4,328
3,176
5Basic earnings/(loss) per share (Subunit)
0.10
0.08
0.77
0.63
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.8100
0.8000
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


FFHB - Quarterly rpt on consolidated results for the financial period ended 30/9/2013

Announcement Type: Financial Results
Company NameFEDERAL FURNITURE HOLDINGS (M) BERHAD  
Stock Name FFHB  
Date Announced27 Nov 2013  
CategoryFinancial Results
Reference NoFF-131127-42488

Financial Year End31/12/2013
Quarter3
Quarterly report for the financial period ended30/09/2013
The figureshave not been audited

Attachments

klse3q13nt.pdf
214 KB

KLSE3Q13F.pdf
45 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2013
30/09/2012
30/09/2013
30/09/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
13,458
21,360
41,343
55,919
2Profit/(loss) before tax
935
2,274
3,612
3,728
3Profit/(loss) for the period
915
2,154
3,522
3,448
4Profit/(loss) attributable to ordinary equity holders of the parent
911
2,065
3,522
3,448
5Basic earnings/(loss) per share (Subunit)
1.10
2.50
4.26
4.00
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.3700
0.3124
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


EKOVEST - Quarterly rpt on consolidated results for the financial period ended 30/9/2013

Announcement Type: Financial Results
Company NameEKOVEST BERHAD  
Stock Name EKOVEST  
Date Announced27 Nov 2013  
CategoryFinancial Results
Reference NoEE-131127-59291

Financial Year End30/06/2014
Quarter1
Quarterly report for the financial period ended30/09/2013
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2013
30/09/2012
30/09/2013
30/09/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
60,006
21,820
60,006
21,820
2Profit/(loss) before tax
-592
10,484
-592
10,484
3Profit/(loss) for the period
-2,847
8,373
-2,847
8,373
4Profit/(loss) attributable to ordinary equity holders of the parent
620
8,373
620
8,373
5Basic earnings/(loss) per share (Subunit)
0.20
4.68
0.20
4.68
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
2.5532
2.3440
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


FRB-WA - Changes in Director's Interest (S135) - Dato' Gan Nyap Liou @ Gan Nyap Liow

Announcement Type: Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Company NameFORMIS RESOURCES BERHAD  
Stock Name FRB-WA  
Date Announced27 Nov 2013  
CategoryChanges in Director's Interest Pursuant to Section 135 of the Companies Act. 1965
Reference NoFR-131127-7A184

Information Compiled By KLSE

Particulars of Director

NameDato' Gan Nyap Liou @ Gan Nyap Liow
Address30 Lorong Kemaris 1
Bukit Bandaraya
Bangsar
59100 Kuala Lumpur
Descriptions(Class & nominal value)Warrants 2011/2016

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted (RM)
Acquired
25/11/2013
100,000
 

Circumstances by reason of which change has occurredAcquisition of Warrants 2011/2016.
Nature of interestDirect Interest
Consideration (if any) 

Total no of securities after change

Direct (units)3,500,000 
Direct (%)3.28 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Date of notice27/11/2013


EKSONS - Quarterly rpt on consolidated results for the financial period ended 30/9/2013

Announcement Type: Financial Results
Company NameEKSONS CORPORATION BERHAD  
Stock Name EKSONS  
Date Announced27 Nov 2013  
CategoryFinancial Results
Reference NoEC-131127-55104

Financial Year End31/03/2014
Quarter2
Quarterly report for the financial period ended30/09/2013
The figureshave not been audited

Attachments

2nd Quarter 30 09 13.pdf
168 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2013
30/09/2012
30/09/2013
30/09/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
50,259
36,856
130,198
147,856
2Profit/(loss) before tax
7,950
7,297
25,736
19,284
3Profit/(loss) for the period
7,697
7,655
21,329
19,233
4Profit/(loss) attributable to ordinary equity holders of the parent
8,030
5,732
17,095
15,147
5Basic earnings/(loss) per share (Subunit)
4.89
3.49
10.41
9.22
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
2.5600
2.4500
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


SANBUMI - Quarterly rpt on consolidated results for the financial period ended 30/9/2013

Announcement Type: Financial Results
Company NameSANBUMI HOLDINGS BERHAD  
Stock Name SANBUMI  
Date Announced27 Nov 2013  
CategoryFinancial Results
Reference NoCP-131125-30700

Financial Year End31/03/2014
Quarter2
Quarterly report for the financial period ended30/09/2013
The figureshave not been audited

Attachments

Q2-2014-ACCTs.xls
92 KB

Q2-2014-NOTES.doc
126 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2013
30/09/2012
30/09/2013
30/09/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
23,570
18,481
47,101
39,870
2Profit/(loss) before tax
-111
-674
-2
-594
3Profit/(loss) for the period
-475
-877
613
-1,168
4Profit/(loss) attributable to ordinary equity holders of the parent
-478
-880
609
-1,174
5Basic earnings/(loss) per share (Subunit)
-0.27
-0.51
0.35
-0.67
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
0.6300
0.6200
Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence


FPI - Changes in Sub. S-hldr's Int. (29B) - Chiang, Tzu-Hsiung @ Tzu Hsiong Jhang

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameFORMOSA PROSONIC INDUSTRIES BERHAD  
Stock Name FPI  
Date Announced27 Nov 2013  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCK-131126-39385

Particulars of substantial Securities Holder

NameChiang, Tzu-Hsiung @ Tzu Hsiong Jhang
Address7F, No. 363 Tun-Hwa South Road
Taipei, Taiwan
NRIC/Passport No/Company No.133760123
Nationality/Country of incorporationTaiwanese
Descriptions (Class & nominal value)Ordinary Shares of RM0.50 each
Name & address of registered holderChiang, Tzu-Hsiung @ Tzu Hsiong Jhang
7F, No. 363 Tun-Hwa South Road
Taipei, Taiwan

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed25/11/2013
50,000
0.750 

Circumstances by reason of which change has occurredDisposal of Shares
Nature of interestDirect Interest
Direct (units)18,010,204 
Direct (%)7.2821 
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change18,010,204
Date of notice26/11/2013

Remarks :
Notice received on 27/11/2013.


FITTERS - MEMORANDUM OF UNDERSTANDING

Announcement Type: General Announcement
Company NameFITTERS DIVERSIFIED BERHAD  
Stock Name FITTERS  
Date Announced27 Nov 2013  
CategoryGeneral Announcement
Reference NoCC-131127-55902

TypeAnnouncement
SubjectMEMORANDUM OF UNDERSTANDING
DescriptionMEMORANDUM OF UNDERSTANDING ENTERED INTO BETWEEN FITTERS DIVERSIFIED BERHAD AND MOLECOR TECNOLOGIA S.L.

SALE AND PURCHASE AND LICENCE AGREEMENT ENTERED INTO BETWEEN MOLECOR (SEA) SDN. BHD. AND MOLECOR TECNOLOGIA S.L.
1. INTRODUCTION
      The Board of Directors of FITTERS Diversified Berhad (“FITTERS” or “the Company”) wishes to announce that the Company had on 27 November 2013 entered into a Memorandum of Understanding (“MOU”) with Molecor Tecnologia S.L. (“MOLECOR”) to invest in Molecor (SEA) Sdn. Bhd. (“MSSB”) (Formerly known as FITTERS Industries Sdn. Bhd.) (Company No. 420497-A), a subsidiary of the Company, together with Ricwil (Malaysia) Sdn. Bhd. (“Ricwil”) (Company No. 113601-W) as part of its diversification policy to enter the market of PVC pressure pipes in Malaysia and, progressively, in other South East Asian markets (“Project”).

      Concurrently with the signing of the MOU, MSSB had also entered into a Sale and Purchase and Licence Agreement with MOLECOR on 27 November 2013 for the acquisition of there (3) MOLECOR SYSTEMS (as defined below) to launch this new line of business exclusively using MOLECOR TECHNOLOGY (as defined below) in Malaysia, their know-how and intellectual property rights.

2. INFORMATION ON MOLECOR
      MOLECOR (Company No. 84724921), a duly incorporated and registered Spanish limited liability company on 26 May 2006 with main office at 5, Cistierna, Fuenlabrada, 28947, Madrid, Spain, duly registered at the Commercial Registry of Madrid.

      MOLECOR is a Spanish company engaged in:-

      (i) the manufacturing of a new generation of integrated systems to manufacture oriented PVC (PVC-O) pressure pipes by means of a partially patented novel and proprietary technology developed by MOLECOR (“MOLECOR SYSTEMS”); and

      (ii) the manufacturing of PVC-O pipes using MOLECOR SYSTEMS and technology (“MOLECOR TECHNOLOGY”).
3. INFORMATION ON FITTERS
      FITTERS was incorporated in Malaysia on 18 January 1986 and listed on the Main Board of Bursa Malaysia Securities Berhad having its registered office at Unit 07-02, Level 7, Persoft Tower, 6B Persiaran Tropicana, 47410 Petaling Jaya, Selangor Darul Ehsan. The present authorised share capital of FITTERS is RM500,000,000 divided into 1,000,000,000 ordinary shares of RM0.50 each of which RM155,929,105 comprising 311,858,210 ordinary shares of RM 0.50 each have been issued and fully paid-up (including treasury shares of 16,161,536). The principal activities of FITTERS are investment holding and trading of fire-safety materials, equipment and fire-prevention systems.

4. INFORMATION ON MSSB
      MSSB is a private limited company incorporated in Malaysia on 24 February 1997 having its registered office at Unit 07-02, Level 7, Persoft Tower, 6B Persiaran Tropicana, 47410 Petaling Jaya, Selangor Darul Eshan. The present authorised share capital of MSSB is RM1,000,000-00 divided into 1,000,000 ordinary shares of RM1.00 each of which 500,000 ordinary shares of RM1.00 each have been issued and fully paid-up. The intended activities of MSSB is to manufacture and distribute PVC-O pipes.
5. INFORMATION ON RICWIL
      Ricwil is a private limited company incorporated in Malaysia on 21 January 1984 with its place of business at 122, Jalan 4D, Kampung Baru Subang, Seksyen U6, 40150 Shah Alam, Selangor Darul Ehsan. The present authorised share capital of Ricwil is RM1,000,000-00 divided into 1,000,000 ordinary shares of RM1.00 each of which 1,000,000 ordinary shares of RM1.00 each have been issued and fully paid-up. The principal activities of Ricwil are manufacturing of preinsulated pipes and trading.

6. SALIENT TERMS OF THE MOU

The salient terms of the MOU are as follows:-
      (a) The MOU sets out the understanding and principles agreed by the Company and MOLECOR with regard to the limited non-exclusive licence to be granted by MOLECOR to MSSB to use part of its corporate name “MOLECOR” and trademark by MSSB exclusively in connection with the Project and the relationship of FITTERS and MOLECOR as shareholders of MSSB.
      (b) The exclusive activity of MSSB is to manufacture and market the PVC-O pipes in Malaysia and South East Asia countries.
(c) MSSB’s shareholders shall be as follows:-
      MOLECOR – 10%
      FITTERS – 65%
      Ricwil – 25%
      (d) FITTERS will always maintain a controlling shareholding in MSSB and assumes full responsibility vis- -vis MOLECOR for any acts of the minority shareholders which are detrimental to MSSB or MOLECOR’s name or trademark.
7. SALIENT TERMS OF THE SALE AND PURCHASE AND LICENCE AGREEMENT

The salient terms of the Sale and Purchase and Licence Agreement are as follows:-

(a) The manufacturing licence is granted on an exclusive basis and for a 3-year term.
      (b) To market oriented PVC (PVC-O) pressure pipes manufactured using the MOLECOR TECHNOLOGY, know-how and intellectual property rights in Malaysia and other countries in South-East Asia i.e. Indonesia, Philippines, Singapore, Thailand, Brunei, Myanmar, Cambodia and Laos.
      (c) All MOLECOR TECHNOLOGY, know-how and intellectual property rights and any other technical or business confidential information provided by MOLECOR to FITTERS shall remain the property of MOLECOR.The salient terms of the Sale and Purchase and Licence Agreement are as follows:-

8. ASSIGNMENT
      MSSB may not assign the Sale and Purchase and License Agreement without the written consent of MOLECOR.
9. RATIONALE FOR THE MOU
      FITTERS believes there is a significant potential for PVC-O pipes in the Malaysian market and, generally, in South East Asian countries and has decided to collaborate with MOLECOR as part of its diversification strategy to venture into the market of PVC pressure pipes in Malaysia and, progressively, in other South East Asian markets.
      In order to implement the Project, FITTERS has selected MOLECOR to form a partnership with Ricwil to procure the required expertise and technical knowledge in the manufacturing of PVC-O pipes using MELECOR TECHNOLOGY.
    10. APPPROVAL REQUIRED
        The MOU and Sale and Purchase and License Agreement are not subject to the approval of the shareholders of FITTERS or any other relevant authorities in Malaysia.
    11. FINANCIAL EFFECTS OF THE MOU AND SALE AND PURCHASE AND LICENCE AGREEMENT
        The MOU and Sale and Purchase and Licence Agreement will not have any material effect on the share capital, substantial shareholders’ shareholdings of FITTERS and is not expected to have a material effect on the net assets, earnings and gearing of FITTERS for the financial year ending 31 December 2013.

        However, it is expected the Project to contribute positively to the future earnings of the FITTERS Group.

    12. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS
        Dato’ Wong Swee Yee, a director and major shareholder of the Company is also a Director of MSSB.

        Save as disclosed above, none of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect in the MOU and Sale and Purchase and Licence Agreement.

    13. STATEMENT BY DIRECTORS
        The Directors of the Company are of the opinion that the MOU and Sale and Purchase and License Agreement are fair and reasonable and is in the best interest of the FITTERS Group.

    14. DOCUMENTS AVAILABLE FOR INSPECTION
        The MOU and Sale and Purchase Licence Agreement will be available for inspection at the registered office of FITTERS during the office hours from Mondays to Fridays (except for public holidays) at No. 1, Jalan Tembaga SD 5/2, Bandar Sri Damansara, 52200 Kuala Lumpur for the period of three (3) months from the date of this announcement.

    This announcement is dated 27 November 2013.


    FITTERS - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS

    Announcement Type: General Announcement
    Company NameFITTERS DIVERSIFIED BERHAD  
    Stock Name FITTERS  
    Date Announced27 Nov 2013  
    CategoryGeneral Announcement
    Reference NoCC-131127-D6E31

    TypeAnnouncement
    SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
    NON RELATED PARTY TRANSACTIONS
    DescriptionDISPOSAL OF 35% EQUITY INTEREST IN MOLECOR (SEA) SDN. BHD. (FORMERLY KNOWN AS FITTERS INDUSTRIES SDN. BHD.)
    Introduction
    The Board of Directors of FITTERS Diversified Berhad (“FITTERS” or “the Company”) wishes to announce that the Company had on 27 November 2013 disposed of its 35% equity interest in Molecor (SEA) Sdn. Bhd. (“MSSB”) (Formerly known as FITTERS Industries Sdn. Bhd.) (Company No. 420497-A), comprising 175,000 ordinary shares of RM1-00 each fully paid, to the following purchasers (“Purchasers”) for a total cash consideration of RM175,000-00 only (“Disposal”):-

    Name of Purchasers
    No. of Shares
    Consideration
    %
    Ricwil (Malaysia) Sdn. Bhd.
    125,000
    RM125,000-00
    25%
    Molecor Tecnologia S.L.
    50,000
    RM50,000-00
    10%
    Total
    175,000
    RM175,000-00
    35%

    Upon completion of the Disposal, MSSB will become a 65%-owned subsidiary of the Company.

    Information on MSSB

    MSSB is a private limited company incorporated in Malaysia on 24 February 1997 having its registered office at Unit 07-02, Level 7, Persoft Tower, 6B Persiaran Tropicana, 47410 Petaling Jaya, Selangor Darul Eshan. The present authorised share capital of MSSB is RM1,000,000-00 divided into 1,000,000 ordinary shares of RM1.00 each of which 500,000 ordinary shares of RM1.00 each have been issued and fully paid-up. The intended activities of MSSB is to manufacture and distirbute PVC-O pipes.

    Information on Ricwil (Malaysia) Sdn. Bhd.

    Ricwil (Malaysia) Sdn. Bhd. (“Ricwil”) (Company No. 113601-W) is a private limited company incorporated in Malaysia on 21 January 1984 with its place of business at 122, Jalan 4D, Kampung Baru Subang, Seksyen U6, 40150 Shah Alam, Selangor Darul Ehsan. The present authorised share capital of Ricwil is RM1,000,000-00 divided into 1,000,000 ordinary shares of RM1.00 each of which 1,000,000 ordinary shares of RM1.00 each have been issued and fully paid-up. The principal activities of Ricwil are manufacturing of preinsulated pipes and trading.

    Information on Molecor Tecnologia S.L.

    MOLECOR (Company No. 84724921), a duly incorporated and registered Spanish limited liability company on 26 May 2006 with main office at 5, Cistierna, Fuenlabrada, 28947, Madrid, Spain, duly registered at the Commercial Registry of Madrid.

    Rationale

    The Disposal is to facilitate strategic partnership and joint venture with the Purchasers to diversify/expand the FITTERS Group’s business into the manufacturing and distribution of PVC-O pipes.

    Financial Effects of the Disposal

    The Disposal will not have any material effect on the earnings per share, net assets per share, share capital and substantial shareholders’ shareholdings of the FITTERS Group for the financial year ending 31 December 2013.

    Approvals Required

    The Disposal is not subject to the approval of the shareholders of FITTERS or the relevant authorities.

    Directors’ and Major Shareholders’ Interests

    Dato’ Wong Swee Yee, a Director and major shareholder of the Company, is also a Director of MSSB.

    Save as disclosed above, none of the Directors and/or major shareholders of the Company or persons connected with them have any interest, whether direct or indirect, in the Disposal.

    Statement by Directors

    The Board, save for Dato’ Wong Swee Yee, is of the opinion that the Disposal is fair and reasonable and is in the best interest of the Company.

    This announcement is dated 27 November 2013.



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