December 5, 2013

Company announcements: ASTRO, MPCORP, AXIATA, DIGI, HAISAN, LONBISC, HELP, VINTAGE

ASTRO - Quarterly rpt on consolidated results for the financial period ended 31/10/2013

Announcement Type: Financial Results
Company NameASTRO MALAYSIA HOLDINGS BERHAD  
Stock Name ASTRO  
Date Announced5 Dec 2013  
CategoryFinancial Results
Reference NoAM-131202-52026

Financial Year End31/01/2014
Quarter3
Quarterly report for the financial period ended31/10/2013
The figureshave not been audited
  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/10/2013

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/10/2013
31/10/2012
31/10/2013
31/10/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
1,216,515
1,078,441
3,530,592
3,133,377
2Profit/(loss) before tax
152,693
158,451
442,071
460,219
3Profit/(loss) for the period
123,558
117,955
335,894
336,443
4Profit/(loss) attributable to ordinary equity holders of the parent
123,712
118,088
336,564
334,841
5Basic earnings/(loss) per share (Subunit)
2.40
5.20
6.50
43.80
6Proposed/Declared dividend per share (Subunit)
2.00
1.50
6.00
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 ($$)
0.1008
0.0993

Remarks :
PROPOSED/DECLARED DIVIDEND PER SHARE (SUBUNIT)
Cumulative Quarter - Corresponding Period of Preceeding Year as at 31/10/2012: 273,825 sen per share, based on 98,238 ordinary shares and 1.5 sen per share, based on 5,197,300,000 ordinary shares.
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


MPCORP - MATERIAL LITIGATION

Announcement Type: General Announcement
Company NameMALAYSIA PACIFIC CORPORATION BERHAD  
Stock Name MPCORP  
Date Announced5 Dec 2013  
CategoryGeneral Announcement
Reference NoCC-131205-62400

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionKuala Lumpur High Court Civil Suit No. S-22-347-2010 - Wong Seng Huat & Safe Deposit Box Sdn Bhd (hereinafter referred to as the “Plaintiffs”) vs Malaysia Pacific Corporation Berhad (“MPCORP” or the “Company”) & MPC Properties Sdn Bhd (“MPC”), a wholly-owned subsidiary of MPCORP (hereinafter referred to as the “Defendants”)
We refer to the announcements dated 29 August 2012, 31 October 2013 and 25 November 2013 pertaining to the unaudited interim financial report (“Quarterly Results”) for the fourth quarter ended 30 June 2012 (“4Q2012”), Annual Audited Accounts for the financial year ended 30 June 2013 (“2013 AAA”) and Quarterly Results for the first quarter ended 30 September 2013 (“1Q2014”) respectively. The above matter was disclosed in the Explanatory Notes of the Quarterly Results 4Q2012 and 1Q2014 as well as the Notes to the Financial Statements of the 2013 AAA. The terms herein shall bear the same meaning as defined in the said announcements.
The Board of MPCB has pleasure to announce that the Plaintiffs have failed to prove its claim but instead the Defendants have managed to prove its counterclaims for unpaid outstanding rental, double rental and restoration cost.
    The Court said it has considered the evidence in its entirety.

    1. On 4 December 2013, the decision of the Court is as follows:

        The Court has disallowed the Plaintiffs claim and instead granted the Defendants counterclaims for outstanding normal rental unpaid as well as claim for double rental and restoration costs based on the following founding:

        (i) The Plaintiffs had breached the house rules and failed in the restoration work plus breach of the tenancy terms by not paying the rental;
          (ii) The Court ruled that there was no evidence of Plaintiffs claim of Collateral Agreement (CA) as alleged. The Court ruled that the Plaintiffs claim of a Collateral Agreement was entirely a feeble attempt in trying to avoid the payment of the outstanding rental to the Defendants;
          (iii) The Plaintiffs indeed failed to pay the monthly rental accordingly to the Tenancy Agreement;
          (iv) The Plaintiffs indeed failed to restore the premise back to its original state; and
          (v) The Plaintiffs indeed failed to comply with the past consent order by the Court to vacate the premise within three months and further failed to deliver vacant possession despite being granted the extension of time to do so. The Court was of the view that the Plaintiffs were in clear violation of the terms of the consent order of the previous Court.

      2. (i) The Court ruled that the counterclaim by the Defendants against the Plaintiffs on double rental is of a very substantial nature. Hence, the decision shall be made upon after seeking clarification of the exact date when the premise was vacated. The Plaintiffs are being directed to submit a reply to the Defendants comprehensive submission of the claim of double rental by 11 December 2013.
          (ii) The double rental shall be subsequently calculated with effect from 12 December 2009 until the determining date of Vacant Possession.

      3. The Court decision is as follows:
          (i) On 4 December 2013, the Court has awarded the sum of RM73,000.00 pursuant to the outstanding rental period to be paid by the Plaintiffs to the Defendants plus interest to be calculated at the rate of 5% per annum with effect from 4 December 2013 until the date of settlement.
          (ii) Regarding the award of double rental amount, both parties shall file written submissions regarding the date of vacant possession which shall submitted by 11 December 2013 to the Court.

          (iii) The Court decision date on the quantum of double rental and vacant possession is fixed on 20 December 2013.

      Further announcement on the above 3(ii) and (iii) shall be made once the Court has decided and the Company has been duly notified.

      This announcement is dated 5 December 2013.


      AXIATA - Changes in Sub. S-hldr's Int. (29B) - AmanahRaya Trustees Berhad-Skim Amanah Saham Bumiputera

      Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Company NameAXIATA GROUP BERHAD  
      Stock Name AXIATA  
      Date Announced5 Dec 2013  
      CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Reference NoAG-131205-405F3

      Particulars of substantial Securities Holder

      NameAmanahRaya Trustees Berhad
      -Skim Amanah Saham Bumiputera
      AddressTingkat 4, Balai PNB
      201-A, Jalan Tun Razak
      50400 Kuala Lumpur
      NRIC/Passport No/Company No.766894-T
      Nationality/Country of incorporationMalaysian
      Descriptions (Class & nominal value)Ordinary Shares of RM1.00 each
      Name & address of registered holderAmanahRaya Trustees Berhad -Skim Amanah Saham Bumiputera, Tingkat 4, Balai PNB, 201-A, Jalan Tun Razak, 50400 Kuala Lumpur

      Details of changes

      Currency: Malaysian Ringgit (MYR)

      Type of transactionDate of change
      No of securities
      Price Transacted (RM)
      Acquired28/11/2013
      1,563,000
       

      Circumstances by reason of which change has occurredAcquisition of 1,563,000 shares by AmanahRaya Trustees Berhad-Skim Amanah Saham Bumiputera
      Nature of interestDirect
      Direct (units)705,349,200 
      Direct (%)8.26 
      Indirect/deemed interest (units) 
      Indirect/deemed interest (%) 
      Total no of securities after change705,349,200
      Date of notice28/11/2013

      Remarks :
      Form 29B received on 5 December 2013


      AXIATA - Changes in Sub. S-hldr's Int. (29B) - AmanahRaya Trustees Berhad-Skim Amanah Saham Bumiputera

      Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Company NameAXIATA GROUP BERHAD  
      Stock Name AXIATA  
      Date Announced5 Dec 2013  
      CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Reference NoAG-131205-B558C

      Particulars of substantial Securities Holder

      NameAmanahRaya Trustees Berhad
      -Skim Amanah Saham Bumiputera
      AddressTingkat 4, Balai PNB
      201-A, Jalan Tun Razak
      50400 Kuala Lumpur
      NRIC/Passport No/Company No.766894-T
      Nationality/Country of incorporationMalaysian
      Descriptions (Class & nominal value)Ordinary Shares of RM1.00 each
      Name & address of registered holderAmanahRaya Trustees Berhad -Skim Amanah Saham Bumiputera, Tingkat 4, Balai PNB, 201-A, Jalan Tun Razak, 50400 Kuala Lumpur

      Details of changes

      Currency: Malaysian Ringgit (MYR)

      Type of transactionDate of change
      No of securities
      Price Transacted (RM)
      Acquired29/11/2013
      1,500,000
       

      Circumstances by reason of which change has occurredAcquisition of 1,500,000 shares by AmanahRaya Trustees Berhad-Skim Amanah Saham Bumiputera
      Nature of interestDirect
      Direct (units)706,849,200 
      Direct (%)8.28 
      Indirect/deemed interest (units) 
      Indirect/deemed interest (%) 
      Total no of securities after change706,849,200
      Date of notice29/11/2013

      Remarks :
      Form 29B received on 5 December 2013


      AXIATA - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board

      Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Company NameAXIATA GROUP BERHAD  
      Stock Name AXIATA  
      Date Announced5 Dec 2013  
      CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Reference NoAG-131205-C4741

      Particulars of substantial Securities Holder

      NameEmployees Provident Fund Board
      AddressTingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur
      NRIC/Passport No/Company No.EPF ACT 1991
      Nationality/Country of incorporationMalaysia
      Descriptions (Class & nominal value)Ordinary Shares of RM1.00 each
      Name & address of registered holder1) Employees Provident Fund Board ("EPF Board")
      Ibu Pejabat KWSP, Bangunan KWSP
      Jalan Raja Laut, 50350 Kuala Lumpur

      2) Citigroup Nominees (Tempatan) Sdn Bhd ("Citigroup") EPF Board
      3) Citigroup EPF Board (AMUNDI)
      4) Citigroup EPF Board (KIB)
      5) Citigroup EPF Board (HDBS)
      6) Citigroup EPF Board (RHB INV)
      7) Citigroup EPF Board (AM INV)
      8) Citigroup EPF Board (MAYBAN)
      9) Citigroup EPF Board (KAF FM)
      10) Citigroup EPF Board (NOMURA)
      11) Citigroup EPF Board (CIMB PRI)
      12) Citigroup EPF Board (ARIM)
      13) Citigroup EPF Board (TEMPLETON)
      14) Citigroup EPF Board (ABERDEEN)

      Level 42, Menara Citibank
      165 Jalan Ampang, 50450 Kuala Lumpur

      Details of changes

      Currency: Malaysian Ringgit (MYR)

      Type of transactionDate of change
      No of securities
      Price Transacted (RM)
      Acquired02/12/2013
      3,742,000
       
      Disposed02/12/2013
      1,190,000
       

      Circumstances by reason of which change has occurred1.Citigroup EPF Board - Acquisition of 3,742,000 shares
      2.Citigroup EPF Board (AM INV) - Disposal of 1,190,000 shares
      Nature of interestDirect
      Direct (units)1,086,892,806 
      Direct (%)12.73 
      Indirect/deemed interest (units) 
      Indirect/deemed interest (%) 
      Total no of securities after change1,086,892,806
      Date of notice03/12/2013

      Remarks :
      1) The total number of 1,086,892,806 ordinary shares comprised of the following:-

      a) Citigroup EPF Board - 980,638,106
      b) EPF Board - 3,332,900
      c) Citigroup EPF Board (AMUNDI) - 4,981,250
      d) Citigroup EPF Board (KIB) - 660,000
      e) Citigroup EPF Board (HDBS) - 10,419,375
      f) Citigroup EPF Board (RHB INV) - 3,000,000
      g) Citigroup EPF Board (AM INV) - 8,222,650
      h) Citigroup EPF Board (MAYBAN) - 1,600,000
      i) Citigroup EPF Board (KAF FM) - 1,400,000
      j) Citigroup EPF Board (NOMURA) - 43,721,300
      k) Citigroup EPF Board (CIMB PRI) - 16,959,025
      l) Citigroup EPF Board (ARIM) - 2,850,000
      m) Citigroup EPF Board (TEMPLETON) - 3,408,200
      n) Citigroup EPF Board (ABERDEEN) - 5,700,000

      2) Form 29B received on 5 December 2013


      DIGI - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board

      Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Company NameDIGI.COM BERHAD  
      Stock Name DIGI  
      Date Announced5 Dec 2013  
      CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
      Reference NoCC-131205-661EB

      Particulars of substantial Securities Holder

      NameEmployees Provident Fund Board
      AddressTingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur
      NRIC/Passport No/Company No.EPF Act 1991
      Nationality/Country of incorporationIncorporated in Malaysia
      Descriptions (Class & nominal value)Ordinary Shares of RM0.01 each
      Name & address of registered holder1) Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board
      2) Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (AMUNDI)
      Level 42, Menara Citibank

      165 Jalan Ampang

      50450 Kuala Lumpur

      Details of changes

      Currency: Malaysian Ringgit (MYR)

      Type of transactionDate of change
      No of securities
      Price Transacted (RM)
      Disposed02/12/2013
      1,417,500
       
      Acquired02/12/2013
      500,000
       

      Circumstances by reason of which change has occurred1) Disposed
      2) Acquired
      Nature of interestDirect
      Direct (units)1,076,270,640 
      Direct (%)13.84 
      Indirect/deemed interest (units) 
      Indirect/deemed interest (%) 
      Total no of securities after change1,076,270,640
      Date of notice03/12/2013

      Remarks :
      The total number of 1,076,270,640 Ordinary Shares of RM0.01 each are held as follows:-


      1) 959,312,550 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board;

      2) 14,791,000 Ordinary Shares of RM0.01 each are registered in the name of Employees Provident Fund Board;

      3) 7,000,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (AMUNDI);
      4) 2,070,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (KIB);

      5) 9,685,200 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (HDBS);

      6) 2,200,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (RHB INV);

      7) 7,807,500 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (AM INV);
      8) 950,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (MAYBAN);
      9) 2,500,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (KAF FM);

      10) 32,310,890 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (NOMURA);
      11) 25,037,300 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (CIMB PRI);

      12) 2,400,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (ARIM);
      13) 2,548,300 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (TEMPLETON); and

      14) 7,657,900 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (ABERDEEN).



      The Form 29B was received by the Company on 5 December 2013.


      HAISAN - PRACTICE NOTE 17 / GUIDANCE NOTE 3:REGULARISATION PLAN

      Announcement Type: General Announcement
      Company NameHAISAN RESOURCES BERHAD  
      Stock Name HAISAN  
      Date Announced5 Dec 2013  
      CategoryGeneral Announcement
      Reference NoMM-131205-64835

      TypeAnnouncement
      SubjectPRACTICE NOTE 17 / GUIDANCE NOTE 3
      REGULARISATION PLAN
      DescriptionHAISAN RESOURCES BERHAD (“HAISAN” OR “COMPANY”)

      (I) PROPOSED CAPITAL REDUCTION;
      (II) PROPOSED M&A AMENDMENTS;
      (III) PROPOSED PRIVATE PLACEMENT; AND
      (IV) PROPOSED RIGHTS ISSUE

      (COLLECTIVELY REFERRED TO AS THE PROPOSED REGULARISATION PLAN)

      (The abbreviations and words used in the ensuing sections of this Announcement shall have the same meanings as defined in the announcement dated 6 March 2013 unless the context otherwise requires or defined herewith.)

      Reference is made to the Company’s announcements dated 6 March 2013, 8 March 2013, 13 March 2013, 8 May 2013, 6 August 2013, 4 September 2013, 25 October 2013, 13 November 2013, 20 November 2013 and 21 November 2013 on the Proposed Regularisation Plan.

      On behalf of the Board of Directors of Haisan, Public Investment Bank Berhad (“PIVB”) is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 5 December 2013, approved the following:

      (i) listing of 40,000,000 Placement Shares to be issued pursuant to the Proposed Private Placement; and

      (ii) listing of 361,622,700 Rights Shares to be issued pursuant to the Proposed Rights Issue,

      on the Main Market of Bursa Securities.

      The approval by Bursa Securities is subject to the following conditions:

      (i) Haisan and PIVB to ensure compliance with Paragraph 8.02 of the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”) prior to the quotation for all the new Haisan Shares to be issued pursuant to the Proposed Private Placement and Proposed Rights Issue;

      (ii) Haisan and PIVB must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Regularisation Plan;

      (iii) Haisan and PIVB to inform Bursa Securities upon the completion of the Proposed Regularisation Plan;

      (iv) Haisan to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Regularisation Plan is completed.

      The quotation for all the new Haisan Shares to be issued pursuant to the Proposed Private Placement and Proposed Rights Issue will commence two (2) market days upon the receipt of the documents as specified under Part C of Annexture PN28-B (where applicable) together with the following supporting documents:

      (i) Public shareholding spread pursuant to Appendix 8E of the Listing Requirements upon allotment and issuance of the Placement Shares and Rights Shares;

      (ii) A letter from PIVB confirming all approvals of relevant authorities have been obtained;

      (iii) A copy of all letters of approval from the relevant authorities; and

      (iv) A certified true copy of the resolution passed by the shareholders at the general meeting for the Proposed Regularisation Plan.

      In addition, Bursa Securities had also resolved to grant an extension of time to allow for the payment of the Placement Shares to be made by the placees to be coterminous with the lodgement date of the Court Order in relation to the Proposed Capital Reduction with the Companies Commission of Malaysia.

      This announcement is dated 5 December 2013.



      LONBISC - Annual Report 2013

      Announcement Type: Document Receipt
      Company NameLONDON BISCUITS BERHAD  
      Stock Name LONBISC  
      Date Announced5 Dec 2013  
      CategoryDocument Receipt
      Reference NoJM-131205-64509

      Annual Report for Financial Year Ended30/06/2013
      SubjectAnnual Report 2013

      Attachments

      LONBISC-AnnualReport2013.pdf
      3013 KB






      HELP - TAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS)

      Announcement Type: General Announcement
      Company NameHELP INTERNATIONAL CORPORATION BERHAD  
      Stock Name HELP  
      Date Announced5 Dec 2013  
      CategoryGeneral Announcement
      Reference NoCS-131205-0F70D

      TypeAnnouncement
      SubjectTAKE-OVERS & MERGERS (CHAPTER 11 OF LISTING REQUIREMENTS)
      DescriptionHELP INTERNATIONAL CORPORATION BERHAD (“HELP” OR “COMPANY”) - RECEIPT OF NOTICE OF TAKE-OVER OFFER
      The Company wishes to announce that the Company has today received a notice of take-over offer dated 5 December 2013 (“Notice”) from RHB Investment Bank Berhad, on behalf of Better Education Enterprise Sdn Bhd to acquire all the ordinary shares of RM0.50 each in HELP not already owned by the Offeror (“Offer Shares”) for a cash offer price of RM 2.53 per Offer Share (“Offer”).

      In accordance with the Malaysian Code on Take-overs and Mergers, 2010, the Board of Directors of the Company (“
      Board”) will appoint an independent adviser for purposes of the Offer.

      The Board has deliberated on the Notice and does not intend to seek an alternate proposal to make a take-over offer for the Offer Shares.

      A copy of the Notice has been attached herewith. The Notice will be posted to the shareholders of HELP within seven (7) days of its receipt.

      This announcement is dated 5 December 2013.

      Attachments

      Notice of Take-Over Offer.pdf
      7817 KB



      VINTAGE - PRACTICE NOTE 17 / GUIDANCE NOTE 3:OTHERS

      Announcement Type: General Announcement
      Company NameVTI VINTAGE BERHAD  
      Stock Name VINTAGE  
      Date Announced5 Dec 2013  
      CategoryGeneral Announcement
      Reference NoML-131205-65069

      TypeAnnouncement
      SubjectPRACTICE NOTE 17 / GUIDANCE NOTE 3
      OTHERS
      DescriptionVTI VINTAGE BERHAD ("VVB" OR THE "COMPANY")

      APPLICATION FOR AN EXTENSION OF TIME TO IMPLEMENT THE PROPOSED REGULRISATION PLAN

      Reference is made to the announcements dated 10 July 2013, 19 September 2013 and 25 September 2013 in relation to the application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for the extension of time to implement the proposed regularisation plan (“EOT Application”).

      Further to the appeal submitted to Bursa Securities on 25 September 2013 in relation to the decision to reject VVB's EOT Application (“Appeal”), Hong Leong Investment Bank Berhad (“HLIB”), on behalf of the Board of Directors (“Board”) of VVB, is pleased to announce that Bursa Securities had via its letter dated 5 December 2013, approved an extension of time until 31 August 2014 to implement its proposed regularisation plan.

      Bursa Securities’ approval was made after due consideration of all the facts and circumstances of the Appeal, including the representations of VVB and its advisers of, amongst others, the following:

      (i) The new secured contracts coupled with the existing secured contracts amounting to RM650.51 million and the representations by the Company on the strategic collaboration with BCEG International (M) Sdn Bhd to jointly participate and undertake construction projects;

      (ii) The financial commitment from the Managing Director/substantial shareholder of VVB, together with the strategic investor in relation to the proposed private placement, proposed rights issue with warrants and the profit guarantee, and the Managing Director's financial advances provided to-date and his representations and commitment to provide additional financial advances to the Company; and

      (iii) The confirmation from the principal adviser, HLIB, that the proposed regularisation plan would comply with Paragraph 3.1 of Practice Note 17 of the Main Market Listing Requirements of Bursa Securities.

      In the event the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by Bursa Securities, the securities of VVB shall be removed from the Official List of Bursa Securities upon expiry of two (2) market days from the date of notification or such other date specified by Bursa Securities to the Company.

      This announcement is dated 5 December 2013.



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