February 24, 2014

Company announcements: PUNCAK, AXIATA, DIGI, TAKASO, PERMAJU, ANALABS, GOLSTA, CENTURY

PUNCAK - Notice of Person Ceasing (29C) - GREAT EASTERN HOLDINGS LIMITED

Announcement Type: Notice of Person Ceasing to be a Substantial Shareholder Pursuant to Form 29C of the Companies Act. 1965
Company NamePUNCAK NIAGA HOLDINGS BERHAD  
Stock Name PUNCAK  
Date Announced24 Feb 2014  
CategoryNotice of Person Ceasing to be a Substantial Shareholder Pursuant to Form 29C of the Companies Act. 1965
Reference NoPN-140224-62743

Particulars of substantial Securities Holder

NameGREAT EASTERN HOLDINGS LIMITED
Address1 Pickering Street #16-01
Great Eastern Centre
Singapore 048659
NRIC/Passport No/Company No.199903008M
Nationality/Country of incorporationSingapore
Descriptions (Class & nominal value)Ordinary shares of RM1.00 each
Date of cessation20/02/2014
Name & address of registered holderGREAT EASTERN HOLDINGS LIMITED
1 Pickering Street #16-01
Great Eastern Centre
Singapore 048659
CurrencyMalaysian Ringgit (MYR)
Number of securities disposed198,500 
Price Transacted ($$) 
Circumstances by reason of which a person ceases to be a substantial securities Holder1. Sale of 3,400 ordinary shares by AmTrustee Bhd for a/c for Malakoff Corporation Bhd - Staff Retirement Benefits Scheme on 20 February 2014.
2. Sale of 47,000 ordinary shares by AmTrustee Bhd for a/c for Koperasi Angkatan Tentera Malaysia Bhd on 20 February 2014.
3. Sale of 66,700 ordinary shares by AmTrustee Bhd for a/c for Pacific Dividend Fund on 20 February 2014.
4. Sale of 26,400 ordinary shares by CIMB Islamic Trustee Berhad for a/c for Pacific Dana Aman on 20 February 2014.
5. Sale of 55,000 ordinary shares by Universal Trustee (Malaysia) Bhd for a/c for Pacific Premier Fund on 20 February 2014.
Nature of interestDeemed Interest
Date of notice24/02/2014

Remarks :
Deemed Interest

1. Malaysia Nominees (Tempatan) Sdn Bhd
- for A/C Great Eastern Life Assurance (Malaysia) Bhd : 15,963,500
- for A/C Overseas Assurance (Malaysia) Bhd : 290,000
- for A/C Great Eastern Takaful Bhd (formerly known as Great Eastern Takaful Sdn Bhd) : 90,000

2. AmTrustee Bhd
- a/c for Pacific Dividend Fund : 997,800
- a/c for Malaysia France Institute Sdn Bhd : 57,100
- a/c for Pacific SELECT Balance Fund : 28,000
- a/c for Koperasi Angkatan Tentera Malaysia Bhd : Nil
- a/c for Malakoff Corporation Bhd - Staff Retirement Benefits Scheme : 108,300
- a/c for Cheah Eng Chuan : 18,500
- a/c for Cheong Kok Fai & Yong Yok Lain : 11,500
- a/c for Wong Ah Moy @ Wong Yoke Len : 23,100
- a/c for BAZ Sdn Bhd : 3,000

3. CIMB Commerce Trustee Berhad
- a/c for Pacific Recovery Fund : 291,700
- a/c for Pacific Millennium Fund : 58,000

4. CIMB Islamic Trustee Berhad
- a/c for Pacific ELIT Dana Aman : 28,300
- a/c for Pacific Dana Aman : 1,705,300
- a/c for Pacific ELIT Dana Dividen : 19,700

5. HSBC (Malaysia) Trustee Bhd
- a/c for HSBC Amanah Takaful Islamic Equity Portfolio: 54,300
- a/c for Pacific Dana Dividen : 152,200

6. Universal Trustee (Malaysia) Bhd
- a/c for Pacific Premier Fund : 520,800

-----------
20,421,100 (4.99%)
=============


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

Announcement Type: General Announcement
Company NameAXIATA GROUP BERHAD  
Stock Name AXIATA  
Date Announced24 Feb 2014  
CategoryGeneral Announcement
Reference NoMM-140224-56674

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionEXEMPTION FROM COMPLYING WITH CONDITIONS IMPOSED BY THE SECURITIES COMMISSION MALAYSIA (“SC”) IN RELATION TO TRANSMISSION TOWERS AND ROOFTOP SITES (“OUTDOOR STRUCTURES”) OF THE AXIATA GROUP OF COMPANIES (“AXIATA GROUP”) (“CONDITIONS”)

We, CIMB Investment Bank Berhad, refer to the announcement dated 30 January 2012 where we announced on behalf of Axiata that the SC had granted a further extension of time of 2 years (i.e. up to 29 January 2014) for Axiata to obtain the necessary approvals for the remaining 49 Outdoor Structures (as at 19 December 2011), which was one of the SC’s Conditions for approving, amongst others, the proposed listing of Axiata on the Main Market of Bursa Malaysia Securities Berhad.

As at 31 December 2013, Axiata Group is in the midst of appealing to the relevant local authorities with respect to applications for 28 Outdoor Structures that were declined. Subject to there being no material adverse effect to the operational and/or financial performance of Axiata Group, the said 28 Outdoor Structures may be dismantled and/or relocated if the legalisation process for the same (“Legalisation”) cannot be completed in the next 2 years.

On behalf of Axiata, we wish to announce that the SC had, through its letter dated 12 February 2014, granted an exemption to Axiata from complying with the Conditions, subject to the following conditions (“Exemption Conditions”):

(i) Axiata to provide an undertaking that it will continue with the Legalisation (“Undertaking”). Axiata had duly provided the SC with the Undertaking on 24 February 2014;

(ii) Axiata to make an announcement on the current status of the Legalisation and remedial actions to be taken on the 28 Outdoor Structures; and

(iii) Axiata is to disclose the status of the Legalisation in its annual report until such time the necessary approvals are obtained.

Save for the disclosure in Axiata’s annual report to be made in due course, Axiata has complied with all of the Exemption Conditions.

This announcement is dated 24 February 2014.



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 Announced24 Feb 2014  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoAG-140224-EEB80

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)
Disposed19/02/2014
2,604,600
 

Circumstances by reason of which change has occurredCitigroup EPF Board - Disposal of 2,604,600 shares
Nature of interestDirect
Direct (units)1,101,064,206 
Direct (%)12.89 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change1,101,064,206
Date of notice20/02/2014

Remarks :
1) The total number of 1,101,064,206 ordinary shares comprised of the following:-



a) Citigroup EPF Board - 1,002,548,506

b) EPF Board - 3,332,900

c) Citigroup EPF Board (AMUNDI) - 3,381,250

d) Citigroup EPF Board (KIB) - 830,000

e) Citigroup EPF Board (HDBS) - 10,919,375

f) Citigroup EPF Board (RHB INV) - 2,655,000

g) Citigroup EPF Board (AM INV) - 8,222,650

h) Citigroup EPF Board (MAYBAN) - 1,780,000

i) Citigroup EPF Board (KAF FM) - 1,600,000

j) Citigroup EPF Board (NOMURA) - 37,321,300

k) Citigroup EPF Board (CIMB PRI) - 16,515,025

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 24 February 2014


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 Announced24 Feb 2014  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoCC-140224-D393D

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 (CIMB PRI)
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)
Disposed19/02/2014
11,632,900
 
Acquired19/02/2014
3,251,700
 

Circumstances by reason of which change has occurred1) Disposed
2) Acquired
Nature of interestDirect
Direct (units)1,019,874,140 
Direct (%)13.12 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change1,019,874,140
Date of notice20/02/2014

Remarks :
The total number of 1,019,874,140 Ordinary Shares of RM0.01 each are held as follows:-


1) 912,523,450 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) 3,332,000 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) 4,500,000 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) 9,187,500 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (AM INV);
8) 1,850,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (MAYBAN);
9) 2,300,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (KAF FM);

10) 27,710,890 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (NOMURA);
11) 28,361,000 Ordinary Shares of RM0.01 each are registered in the name of Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board (CIMB PRI);

12) 2,100,000 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) 6,400,000 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 24 February 2014.


TAKASO - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):RECURRENT RELATED PARTY TRANSACTIONS

Announcement Type: General Announcement
Company NameTAKASO RESOURCES BERHAD  
Stock Name TAKASO  
Date Announced24 Feb 2014  
CategoryGeneral Announcement
Reference NoCM-140224-16381

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
DescriptionRECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE (“RRPTs”)

The Board of Directors of Takaso Resources Berhad ("the Company") wishes to announce the RRPTs entered into by the Company's wholly-owned subsidiary, Takaso Trading Sdn. Bhd., in pursuant to Paragraph 10.09(1)(b) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

Kindly refer to the attachment for further details.

This announcement is dated 24 February 2014.

Attachments

TRB - RRPT Announcement.pdf
27 KB



PERMAJU - Quarterly rpt on consolidated results for the financial period ended 31/12/2014

Announcement Type: Financial Results
Company NamePERMAJU INDUSTRIES BERHAD  
Stock Name PERMAJU  
Date Announced24 Feb 2014  
CategoryFinancial Results
Reference NoCP-140221-7F69C

Financial Year End31/12/2014
Quarter4
Quarterly report for the financial period ended31/12/2014
The figureshave not been audited

Attachments

PIB DEC 2013.xls
114 KB

PIB DEC 2013.doc
299 KB

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2014

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/12/2013
31/12/2012
31/12/2013
31/12/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
30,296
47,803
151,900
204,685
2Profit/(loss) before tax
-3,681
-6,268
-11,378
-10,567
3Profit/(loss) for the period
-3,935
-6,916
-11,642
-11,219
4Profit/(loss) attributable to ordinary equity holders of the parent
-3,708
-6,809
-11,039
-10,851
5Basic earnings/(loss) per share (Subunit)
-1.98
-3.64
-5.89
-5.79
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 ($$)
0.7900
0.8500
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


PERMAJU - Change in Boardroom

Announcement Type: Change in Boardroom
Company NamePERMAJU INDUSTRIES BERHAD  
Stock Name PERMAJU  
Date Announced24 Feb 2014  
CategoryChange in Boardroom
Reference NoCP-140219-28925

Date of change24/02/2014
NameChai Woon Yun
Age33
NationalityMalaysian
Type of changeAppointment
DesignationExecutive Director
DirectorateExecutive
QualificationsCertificate IV in Fashion and Textiles Merchandising (RMIT University)
Certificate IV in Clothing Production (RMIT University)
Advanced Diploma in Fashion Marketing & Management (RMIT University) 
Working experience and occupation She began her career in the fashion clothing industry. She joined the Group in 2007 as Operation Manager in one of the Permaju’s subsidiaries (Automobile Division). In 2013, she was subsequently promoted to Managing Director in several subsidiaries of the Group (Automobile Division). She also holds directorships in several private limited companies. 
Directorship of public companies (if any)None. 
Family relationship with any director and/or major shareholder of the listed issuerDaughther of Tan Sri Datuk Chai Kin Kong, a major shareholder of Permaju Industries Berhad (PIB).
Dato' Chai Kin Loong and Mr Chai Kim Chong, major shareholders of PIB and are the brothers of Tan Sri Datuk Chai Kin Kong. 
Any conflict of interests that he/she has with the listed issuerNone. 
Details of any interest in the securities of the listed issuer or its subsidiariesIndirect interest of 40,941,196 ordinary shares of RM1.00 each 


ANALABS - Notice of Shares Buy Back - Immediate Announcement

Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company NameANALABS RESOURCES BERHAD  
Stock Name ANALABS  
Date Announced24 Feb 2014  
CategoryNotice of Shares Buy Back - Immediate Announcement
Reference NoCP-140224-01F9A

Date of buy back24/02/2014
Description of shares purchasedOrdinary Shares of RM1.00 each
CurrencyMalaysian Ringgit (MYR)
Total number of shares purchased (units)270,000
Minimum price paid for each share purchased ($$)1.700
Maximum price paid for each share purchased ($$)1.740
Total consideration paid ($$)466,433.51
Number of shares purchased retained in treasury (units)270,000
Number of shares purchased which are proposed to be cancelled (units)
Cumulative net outstanding treasury shares as at to-date (units)2,886,100
Adjusted issued capital after cancellation
(no. of shares) (units)
 
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%)4.81


GOLSTA - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS DURING CLOSED PERIOD (Amended Announcement)

Announcement Type: General Announcement
Company NameGOLSTA SYNERGY BERHAD  
Stock Name GOLSTA  
Date Announced24 Feb 2014  
CategoryGeneral Announcement
Reference NoGS-140224-817F3

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS DURING CLOSED PERIOD
DescriptionDealing by Directors

Pursuant to Paragraph 14.08(d) of Bursa Malaysia Securities Berhad's Main Market Listing Requirements, we set out below details of the dealing in the Company's securities by Directors.

Teng Swee Eng

Ordinary shares of RM1.00 each

Date of dealing
Average disposal price per share
No. of shares disposed
% of shareholding
21 February 2014
Not applicable as he ceased to have interest in the ordinary shares of Golsta Synergy Berhad under Section 6A of the Companies Act, 1965 pursuant to the Share Sale Agreement of GS Capital Sdn Bhd. dated 21 February 2014. Mr. Teng Swee Eng has disposed off his entire shareholdings in GS Capital Sdn. Bhd..
GS Capital Sdn. Bhd. owns 12,600,000 ordinary shares of Golsta Synergy Berhad.

12,600,000*
27.27

Note: * Deemed interest pursuant to Section 6A of the Companies Act, 1965 in GS Capital Sdn Bhd

Dai Kuang Yen

Ordinary shares of RM1.00 each

Date of dealing
Average disposal price per share
No. of shares disposed
% of shareholding
21 February 2014
Not applicable as he ceased to have interest in the ordinary shares of Golsta Synergy Berhad under Section 6A of the Companies Act, 1965 pursuant to the Share Sale Agreement of GS Capital Sdn Bhd. dated 21 February 2014. Mr. Dai Kuang Yen has disposed off his entire shareholdings in GS Capital Sdn. Bhd..
GS Capital Sdn. Bhd. owns 12,600,000 ordinary shares of Golsta Synergy Berhad.

12,600,000*
27.27

Note: * Deemed interest pursuant to Section 6A of the Companies Act, 1965 in GS Capital Sdn Bhd

Liow Teck Eng

Ordinary shares of RM1.00 each

Date of dealing
Average disposal price per share
No. of shares disposed
% of shareholding
21 February 2014
Not applicable as he ceased to have interest in the ordinary shares of Golsta Synergy Berhad under Section 6A of the Companies Act, 1965 pursuant to the Share Sale Agreement of GS Capital Sdn Bhd. dated 21 February 2014. Mr. Liow Teck Eng has disposed off his entire shareholdings in GS Capital Sdn. Bhd..
GS Capital Sdn. Bhd. owns 12,600,000 ordinary shares of Golsta Synergy Berhad.

12,600,000*
27.27

Note: * Deemed interest pursuant to Section 6A of the Companies Act, 1965 in GS Capital Sdn Bhd

This announcement is dated 21 February 2014.

 



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

Announcement Type: General Announcement
Company NameCENTURY LOGISTICS HOLDINGS BERHAD  
Stock Name CENTURY  
Date Announced24 Feb 2014  
CategoryGeneral Announcement
Reference NoCS-140224-97D8D

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionCENTURY LOGISTICS HOLDINGS BERHAD ("CENTURY" OR " THE COMPANY")
- PROPOSED DISPOSAL OF 459,000 ORDINARY SHARES OF RM1.00 EACH IN THE CAPITAL OF STOREWELL REALTY SDN. BHD., REPRESENTING 51% EQUITY INTEREST, BY CENTURY LOGISTICS SDN. BHD. FOR A TOTAL CASH CONSIDERATION OF RM7.9 MILLION
INTRODUCTION
The Board of Directors of CENTURY (“Board”) is pleased to announce that Century Logistics Sdn. Bhd. (Company No.: 32594-T) (“CLSB” or “Vendor”), a wholly-owned subsidiary of the Company, had on 24 February 2014 entered into a Share Sale Agreement (“SSA”) with Brightberry Sdn. Bhd. (Company No.: 1080194-D) ("Brightberry” or “Purchaser”) to dispose 459,000 ordinary shares of RM1.00 each in the capital of Storewell Realty Sdn. Bhd. (Company No.: 62740-A) (“Storewell”), representing 51% of the equity interest ("Sale Shares") in Storewell to Brightberry, for a total cash consideration of RM7.9 million (“Proposed Disposal”).

DETAILS OF THE PROPOSED DISPOSAL

(a) Information on Brightberry
    Brightberry is a company incorporated in Malaysia under the Companies Act 1965 with its registered office at Level 2, Tower 1, Avenue 5, Bangsar South City, 59200 Kuala Lumpur.

    The principal activity of Brightberry is investment holding.
(b) Information on Storewell
    Storewell is a company incorporated in Malaysia with its registered address at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur and its business address at Lot 8, Lingkaran Sultan Mohamed 1, Bandar Sultan Suleiman, 42000 Port Klang, Selangor Darul Ehsan.

    The shareholders of Storewell are currently CLSB, a wholly owned subsidiary of the Company, holding 459,000 ordinary shares or 51% of the total paid up capital of Storewell and Misi Mahsuri Sdn. Bhd., holding 441,000 ordinary shares or 49% of the total paid up capital.

    The principal activity of Storewell is property investment.


BASIS OF THE SALE CONSIDERATION

The sale consideration for the Proposed Disposal was arrived at after taking into consideration the net assets of Storewell of RM829,000, and assignment of the amount due to Century and CLSB amounting to RM6.039 million (“Advances”).

Based on the 51% interest in Storewell and after taking into consideration the Advances, the value of the sale consideration amounts to RM6.462 million. As a result, the Century Group will realize a gain on disposal of RM1.438 million.

    SALIENT TERMS OF THE SSA

    1. Conditions Precedent
        The purchase of the Sale Shares is conditional upon the following:
        (a) The completion of a due diligence exercise and the results thereof being acceptable to the Purchaser;
          (b) The Vendor having first procured the waiver of pre-emption right from the existing shareholders of Storewell under the Articles of Association of Storewell and in pursuance of the terms of a shareholders’ agreement to have the Sale Share offered to the existing shareholders prior to the sale and transfer of the Sale Share;
            (c) The Vendor having first procured its corporate approval to deliver a validly and duly executed Assignment in the format as required wherein the Vendor assign, transfer and convey absolutely all its rights and interest in the Advances to the Purchaser;
              (d) A resolution being passed at a general meeting and Board of Directors’ of the Vendor approving the sale of the Sale Shares; and
              (e) A resolution being passed at a general meeting and Board of Directors’ of the Purchaser approving the purchase of the Sale Shares;
              and, if any of the conditions is not fulfilled within one (1) month from the date of the SSA (or such other period as may be mutually agreed by the parties) any monies paid to the Vendor by the Purchaser pursuant to the SSA shall be refunded to the Purchaser without interest and thereafter, the SSA shall cease to have effect and each party shall have no claim under it against the other, save in respect of any prior breach.

          2. Sale Consideration
              The Price shall be paid by the Purchaser to the Vendor in the following manner:
                (a) upon execution of the SSA, the Purchaser shall pay to the Vendor a sum of Ringgit Malaysia Seven Hundred and Ninety Thousand (RM790,000.00) only as deposit and part payment towards account of the Price (“the Deposit”) (the receipt whereof the Vendor acknowledges); and
                  (b) within 14 days on completion of the purchase of the Sale Share, the Purchaser shall pay to the Vendor the balance of Ringgit Malaysia Seven Million One Hundred and Ten Thousand (RM7,110,000.00) Only (“the Balance Price”).
                3. Completion of Sale
                    Completion shall take place at the registered office of the Vendor within three (3) days after the date of which the last of the above Conditions Precedent are fulfilled.

                EFFECTS OF THE PROPOSED DISPOSAL

                (a) Share Capital and Major Shareholders' Shareholding

                  The Proposed Disposal will not have any effect on the share capital and Major shareholders’ shareholding of the Company as it will be settled entirely in cash.

                (b) Earnings, Net Assets and Gearing
                  The Proposed Disposal will result in a gain on disposal of RM1.438 million and will result in a cash inflow to the Century Group of RM7.9 million. The Proposed Disposal will also not result in the assuming of any liabilities by the Company or CLSB.


                APPROVAL REQUIRED

                The Proposed Disposal does not require the approval of the Company’s shareholders or any government authorities.


                DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST

                Save for the respective indirect equity interests held in the Vendor via the Company, none of the directors and/or major shareholders of the Company and/or persons connected with a director or major shareholder has any interest, direct or indirect, in the Proposed Disposal.
                  DIRECTORS’ STATEMENT

                  The Board of Directors of the Company, having taken into consideration all aspects relevant to the Proposed Disposal, is of the opinion that the Proposed Disposal is in the best interest of the Company.


                  ESTIMATED COMPLETION

                  Barring unforeseen circumstances, the Proposed Disposal is expected to be completed within two (2) months from the date of the SSA.


                  DOCUMENTS FOR INSPECTION

                  The SSA is available for inspection at the registered office of the Company at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur during normal office hours on any weekday (except public holiday) for a period of three (3) months from the date of this announcement.


                  This announcement is dated 24 February 2014.


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