NADAYU - OTHERS NADAYU PROPERTIES BERHAD (“NADAYU” OR “COMPANY”) PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 (“PROPOSED SCR”)
| Company Name | NADAYU PROPERTIES BERHAD |
| Stock Name | NADAYU |
| Date Announced | 16 Jan 2014 |
| Category | General Announcement |
| Reference No | MI-140116-55685 |
| Type | Announcement |
| Subject | OTHERS |
| Description | NADAYU PROPERTIES BERHAD (“NADAYU” OR “COMPANY”) PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 (“PROPOSED SCR”) |
We refer to the announcements dated 21 June 2013, 1 July 2013, 30 July 2013, 6 September 2013, 18 September 2013 and 28 October 2013 in relation to the Proposed SCR. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements in relation to the Proposed SCR. | |
OSK - Changes in Sub. S-hldr's Int. (29B) - OSK Equity Holdings Sdn. Bhd.
| Company Name | OSK HOLDINGS BERHAD |
| Stock Name | OSK |
| Date Announced | 16 Jan 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | CS-140116-83E4A |
Particulars of substantial Securities Holder
| Name | OSK Equity Holdings Sdn. Bhd. |
| Address | 7th Floor, Plaza OSK Jalan Ampang 50450 Kuala Lumpur |
| NRIC/Passport No/Company No. | 1030788-T |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each |
| Name & address of registered holder | OSK Equity Holdings Sdn. Bhd. 7th Floor, Plaza OSK Jalan Ampang 50450 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Acquired | 10/01/2014 | 560,400 |
OSK - Changes in Sub. S-hldr's Int. (29B) - Tan Sri Ong Leong Huat @ Wong Joo Hwa
| Company Name | OSK HOLDINGS BERHAD |
| Stock Name | OSK |
| Date Announced | 16 Jan 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | CS-140116-83E4B |
Particulars of substantial Securities Holder
| Name | Tan Sri Ong Leong Huat @ Wong Joo Hwa |
| Address | 21, Persiaran Basong Damansara Heights 50490 Kuala Lumpur |
| NRIC/Passport No/Company No. | 440405-08-5313 |
| Nationality/Country of incorporation | Malaysian |
| Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each |
| Name & address of registered holder | OSK Equity Holdings Sdn. Bhd. 7th Floor, Plaza OSK Jalan Ampang 50450 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Acquired | 10/01/2014 | 560,400 |
| Remarks : |
| The indirect interests of Tan Sri Ong Leong Huat @ Wong Joo Hwa are as follows: Land Management Sdn. Bhd. - 184,429 OSK Equity Holdings Sdn. Bhd. - 364,387,749 (Deemed interested pursuant to Section 6A of the Companies Act, 1965) |
OSK - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD
| Company Name | OSK HOLDINGS BERHAD |
| Stock Name | OSK |
| Date Announced | 16 Jan 2014 |
| Category | General Announcement |
| Reference No | CS-140116-83E4C |
| Type | Announcement | ||||||||
| Subject | DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) DEALINGS OUTSIDE CLOSED PERIOD | ||||||||
| Description | OSK HOLDINGS BERHAD ("OSKH" or "the Company") - DEALINGS IN SECURITIES OF OSKH OUTSIDE CLOSED PERIOD PURSUANT TO PARAGRAPH 14.09 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD | ||||||||
Pursuant to Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that Tan Sri Ong Leong Huat @ Wong Joo Hwa, a Director of the Company, had given notice of his indirect dealings in the securities of the Company outside the closed period, details as set out in the table below:- Ordinary Shares of RM1.00 each
Remarks:- * Acquisition of shares by OSK Equity Holdings Sdn. Bhd. This announcement is dated 16 January 2014. | |||||||||
OSK - Changes in Director's Interest (S135) - Tan Sri Ong Leong Huat @ Wong Joo Hwa
| Company Name | OSK HOLDINGS BERHAD |
| Stock Name | OSK |
| Date Announced | 16 Jan 2014 |
| Category | Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965 |
| Reference No | CS-140116-83E49 |
Information Compiled By KLSE
Particulars of Director
| Name | Tan Sri Ong Leong Huat @ Wong Joo Hwa |
| Address | 21, Persiaran Basong, Damansara Heights, 50490 Kuala Lumpur |
| Descriptions(Class & nominal value) | Ordinary Shares of RM1.00 each |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Acquired | 560,400 |
| Circumstances by reason of which change has occurred | Acquisition of shares by OSK Equity Holdings Sdn. Bhd. |
| Nature of interest | Indirect |
| Consideration (if any) |
Total no of securities after change | |
| Direct (units) | 8,200,000 |
| Direct (%) | 0.85 |
| Indirect/deemed interest (units) | 382,029,737 |
| Indirect/deemed interest (%) | 39.45 |
| Date of notice | 16/01/2014 |
KINSTEL - PRACTICE NOTE 1 / GUIDANCE NOTE 5:NEW DEFAULT
| Company Name | KINSTEEL BHD |
| Stock Name | KINSTEL |
| Date Announced | 16 Jan 2014 |
| Category | General Announcement |
| Reference No | CK-140113-39319 |
| Type | Announcement |
| Subject | PRACTICE NOTE 1 / GUIDANCE NOTE 5 NEW DEFAULT |
| Description | KINSTEEL BHD (“KINSTEEL” OR “THE COMPANY”) ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 1 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD |
INTRODUCTION The Board of Directors (“Board”) of Kinsteel wishes to announce that its indirect subsidiary company, Perwaja Steel Sdn Bhd (“PSSB”) has defaulted in repayment of Murabahah Medium Term Notes of RM50,000,000 on 29 November 2013. By virtue of this default, PSSB has cross-defaulted its banking facilities with RHB Bank Berhad, OCBC Bank (Malaysia) Berhad, Standard Chartered Bank Malaysia Berhad and Kuwait Finance House Berhad (collectively known as “the Banks”) totalling RM768,738,785. Reasons for the default Inability to generate sufficient cashflow due to the slowdown of steel industry as a result of oversupply and decline in steel prices. Measures by the Company to address the default The management of Kinsteel together with PSSB had engaged all lenders of PSSB to negotiate and facilitate a restructuring proposal, including seeking the assistance of Corporate Debt Restructuring Committee to mediate with the lenders. In addition, PSSB has been granted an order pursuant to to Section 176(1) and Section 176(10) of the Companies Act, 1965 (“Act”) by the High Court of Malaya in Kuala Lumpur (“High Court”) on 29 October 2013 to restrain all further proceedings, and any and all actions or proceedings brought or to be brought by all its creditors for a period of ninety (90) days (“Order”). The abovementioned Order was applied for in order to facilitate PSSB to convene a meeting with its creditors pursuant to Section 176(1) of the Act for the purpose of considering and if thought fit, to approve with or without any alteration or modification, a proposed scheme of arrangement and compromise for PSSB. Legal implications of the default including the extent of the listed issuer’s liability in respect of the obligations incurred under the agreements for the indebtedness Pursuant to the default, the lenders of PSSB have the right to enforce its rights under the loan documents which include enforcing the various collaterals given to secure the loan/credit facilities granted by the lenders to PSSB, which collateral includes the corporate guarantee given by Kinsteel. The extent of the liability of the Company is limited to the corporate guarantees provided to the Banks amounting to RM706,000,000. Nevertheless, Kinsteel is taking proactive approaches to negotiate with its lenders to arrive at an amicable arrangement to both parties. In addition, PSSB has been granted the abovementioned Order that restrains any actions by the lenders on the guarantees provided by Kinsteel for PSSB’s facilities. Business, financial and operational impact of the default on the Company There is no impact to the business and operations of Kinsteel arising from the default. Kinsteel will be able to continue with its existing business of manufacturing and trading of steel bars and steel related products, which has its own distinct autonomous business operation and management whereby its financial and business operations are independent from those of PSSB. In the event the default is in respect of secured loan stocks or bonds, the lines of action available to the guarantors or security holders against the listed issuer Not applicable. In the event the default is in respect of payments under a debenture, to specify whether the default will empower the debenture holder to appoint a receiver or receiver and manager PSSB has been granted the abovementioned Order that restrains any actions by the lenders to empower the debenture holders to appoint a receiver or receiver manager. Cross Default If pursuant to the default, a demand is made by the Banks on PSSB under the corporate guarantee and Kinsteel fails to pay the guaranteed amount as demanded, such failure by Kinsteel may trigger a cross default of other credit/loan facilities given to Kinsteel and/or other companies within Kinsteel group, for which Kinsteel also stands as a guarantor or security party. As at the date of this announcement, no demand has been made on Kinsteel as the corporate guarantor. Where the default is in respect of a subsidiary or associated company, a confirmation as to whether the subsidiary or associated company is a major subsidiary or major associated company, as the case may be PSSB is not a major subsidiary of Kinsteel. Where the Default is in respect of a listed issuer, major subsidiary or major associated company, as the case may be – i. a statement as to whether the listed issuer is solvent ("Solvency Declaration"). For this purpose, a listed issuer is regarded as "solvent" if the majority directors have formed the opinion that the listed issuer will be able to pay all its debts as and when they fall due within the period of 12 months from the date of the announcement; and ii. if the listed issuer is solvent, a statement that the listed issuer undertakes to provide to the Exchange, the Solvency Declaration duly executed by its board of directors within 3 market days from the announcement date Not applicable as the default is not in respect of Kinsteel or a major subsidiary of Kinsteel. This announcement is dated 16 January 2014. | |
WASEONG - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board
| Company Name | WAH SEONG CORPORATION BERHAD |
| Stock Name | WASEONG |
| Date Announced | 16 Jan 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | WS-140116-60D6E |
Particulars of substantial Securities Holder
| Name | Employees Provident Fund Board |
| Address | Tingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur |
| NRIC/Passport No/Company No. | EPF ACT 1991 |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary shares of RM0.50 each |
| Name & address of registered holder | Employees Provident Fund Board Tingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur (518,269 ordinary shares of RM0.50 each) Citigroup Nominees (Tempatan) Sdn Bhd [Employees Provident Fund Board] Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur (27,474,470 ordinary shares of RM0.50 each) Citigroup Nominees (Tempatan) Sdn Bhd [Employees Provident Fund Board (AM INV)] Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur (7,102,500 ordinary shares of RM0.50 each) Citigroup Nominees (Tempatan) Sdn Bhd [Employees Provident Fund Board (NOMURA)] Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur (8,165,294 ordinary shares of RM0.50 each) |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Acquired | 10/01/2014 | 6,100 |
| Remarks : |
| 1. Purchase of 6,100 shares by Citigroup Nominees (Tempatan) Sdn Bhd for Employees Provident Fund Board. 2. The Notice of Change in the Interest of Substantial Shareholder dated 13 January 2014 was received on 16 January 2014 from Citigroup Nominees (Tempatan) Sdn Bhd reporting on behalf of Employees Provident Fund Board. |
XDL - OTHERS CLARIFICATION ON PRESS RELEASE
| Company Name | XIDELANG HOLDINGS LTD |
| Stock Name | XDL |
| Date Announced | 16 Jan 2014 |
| Category | General Announcement |
| Reference No | CK-140116-63566 |
| Type | Announcement |
| Subject | OTHERS |
| Description | CLARIFICATION ON PRESS RELEASE |
We refer to the article headlined “XiDeLang expects RM50m revenue from Universal Fitness & Leisure tie-up” appearing in the Business News section of the Star Online today, in particular the following extracts:-
1. “He expects the agreement to contribute RM50mil in revenue and RM10mil to RM20mil in profit after tax.” We wish to inform that the abovementioned revenue and profit after tax contribution of RM50 million and RM10 million respectively is based on the management internal target and these figures have not been reviewed by the external auditors.
2. “The first shipment of XiDeLang products to Malaysia would be in February” We would like to inform that the first shipment of XDL products to Malaysia is expected to be delivered in the second financial quarter, once the detailed arrangement with Universal Fit & Leisure Sdn Bhd has been finalised. This announcement is dated 16 January 2014. | |
HOHUP - Changes in Director's Interest (S135) - Datin Chan Bee Leng
| Company Name | HO HUP CONSTRUCTION COMPANY BHD |
| Stock Name | HOHUP |
| Date Announced | 16 Jan 2014 |
| Category | Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965 |
| Reference No | CS-140116-4D760 |
Information Compiled By KLSE
Particulars of Director
| Name | Datin Chan Bee Leng |
| Address | B-17-3, Mutiara Upper East Ampang, No. 39, Jalan 1/76E, Desa Pandan, 55100 Kuala Lumpur, Wilayah Persekutuan |
| Descriptions(Class & nominal value) | Warrants 2013/2018 |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Disposed | 50,000 | 0.920 | |
Disposed | 100,000 | 0.930 | |
Disposed | 50,000 | 0.935 | |
Disposed | 50,000 | 0.940 | |
Disposed | 50,000 | 0.945 | |
Disposed | 50,000 | 0.955 | |
Disposed | 50,000 | 0.965 | |
Disposed | 50,000 | 0.970 | |
Disposed | 90,000 | 0.930 | |
Disposed | 50,000 | 0.920 |
| Circumstances by reason of which change has occurred | Disposal of Warrants through open market by The Executors of Estate of Low Chee, Dato' Low Tuck Choy and Low Chee Group Sdn. Bhd. |
| Nature of interest | Indirect |
| Consideration (if any) |
Total no of securities after change | |
| Direct (units) | 0 |
| Direct (%) | 0 |
| Indirect/deemed interest (units) | 14,851,865 |
| Indirect/deemed interest (%) | 29.12 |
| Date of notice | 16/01/2014 |
| Remarks : |
| This announcement is also made to comply with Paragraph 14.09 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements. |
HOHUP - Changes in Director's Interest (S135) - Dato' Thong Kok Khee
| Company Name | HO HUP CONSTRUCTION COMPANY BHD |
| Stock Name | HOHUP |
| Date Announced | 16 Jan 2014 |
| Category | Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965 |
| Reference No | CS-140116-4D765 |
Information Compiled By KLSE
Particulars of Director
| Name | Dato' Thong Kok Khee |
| Address | No. 74, Jalan Setiakasih, Damansara Heights, 50490 Kuala Lumpur |
| Descriptions(Class & nominal value) | Redeemable Convertible Preference Shares of RM0.01 each |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Acquired | 770,000 | 1.292 |
| Circumstances by reason of which change has occurred | Acquisition of Redeemable Convertible Preference Shares ("RCPS") through open market by Insas Plaza Sdn. Bhd. |
| Nature of interest | Indirect |
| Consideration (if any) |
Total no of securities after change | |
| Direct (units) | 0 |
| Direct (%) | 0 |
| Indirect/deemed interest (units) | 2,643,000 |
| Indirect/deemed interest (%) | 2.12 |
| Date of notice | 16/01/2014 |
| Remarks : |
| This announcement is also made to comply with Paragraph 14.09 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements. |
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