March 24, 2014

Company announcements: MYETFID, KIANJOO, HYTEXIN, MEGB, KIMLUN

MYETFID - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

Announcement Type: General Announcement
Company NameMYETF MSCI MALAYSIA ISLAMIC DIVIDEND  
Stock Name MYETFID  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoMM-140324-68605

TypeAnnouncement
SubjectNET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
DescriptionMYETF MSCI MALAYSIA ISLAMIC DIVIDEND - Valuation Point as at 24-03-2014
Fund: MYETFID
NAV per unit (RM): 1.0089
Units in Circulation (units): 20,000,000
Manager's Fee (%p.a): 0.40
Trustee's Fee (%p.a): 0.045
License Fee (%p.a): 0.06
MSCI Malaysia IMI Islamic HDY 10/40 Index: 2,354.56

 



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

Announcement Type: General Announcement
Company NameKIAN JOO CAN FACTORY BERHAD  
Stock Name KIANJOO  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCU-140324-56271

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
DescriptionKIAN JOO CAN FACTORY BERHAD (“KIAN JOO” OR “THE COMPANY”)

(I) PROPOSED DISPOSAL OF THE ENTIRE BUSINESS AND UNDERTAKING, INCLUDING ALL OF THE ASSETS AND LIABILITIES OF KIAN JOO TO ASPIRE INSIGHT SDN BHD (“ASPIRE”) FOR A TOTAL CONSIDERATION OF RM1,465,753,693 WHICH TRANSLATES TO APPROXIMATELY RM3.30 PER ORDINARY SHARE OF RM0.25 EACH IN KIAN JOO (“PROPOSED DISPOSAL”); AND

(II) PROPOSED DISTRIBUTION OF THE PROCEEDS ARISING FROM THE PROPOSED DISPOSAL TO ALL ENTITLED SHAREHOLDERS OF KIAN JOO IN CASH AT NOT LESS THAN RM3.30 PER ORDINARY SHARE OF RM0.25 EACH IN KIAN JOO VIA PROPOSED CAPITAL REDUCTION AND REPAYMENT EXERCISE IN ACCORDANCE WITH SECTION 64 OF THE COMPANIES ACT, 1965 (“PROPOSED PROCEEDS DISTRIBUTION”)

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
We refer to the announcements made on 26 November 2013, 5 December 2013, 6 December 2013, 9 December 2013, 10 December 2013, 10 January 2014, 29 January 2014, 21 February 2014 and 13 March 2014.

On behalf of the Board of Directors of Kian Joo, MIDF Amanah Investment Bank Berhad wishes to announce that Kian Joo has entered into a Business Sale Agreement, Properties Sale Agreements and Assets Sale Agreement with Aspire today in relation to the Proposed Disposal. Upon completion of the Proposed Disposal, Kian Joo will undertake a capital repayment exercise to return the cash proceeds arising from the Proposed Disposal to the shareholders via the Proposed Proceeds Distribution.


Please refer to attachment for the details of the Proposals.


HYTEXIN - WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR

Announcement Type: General Announcement
Company NameHYTEX INTEGRATED BERHAD  
Stock Name HYTEXIN  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCS-140324-65332

TypeAnnouncement
SubjectWINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
DescriptionHYTEX INTEGRATED BERHAD ("HIB" OR "THE COMPANY")
- APPLICATION FOR EXTENSION OF RESTRAINING ORDER PURSUANT TO SECTIONS 176(1) and 176(10) OF THE COMPANIES ACT, 1965

Further to the Company’s announcements dated 13 December 2013, 23 December 2013 and 20 March 2014, the Board wishes to announce that  the Court has fixed the hearing in respect of the application for an extension of the Restraining Order pursuant to Section 176(1) and Section 176(10) of the Companies Act, 1965, which was filed on 19 March 2014 by the Company and its subsidiaries namely Hytex Apparel Sdn Bhd and Hytex Garments (M) Sdn Bhd (“RO Extension”) to be held on 27 March 2014.

 

The RO Extension is not expected to have any impact on the financial and operational matters of the HIB Group as the RO Extension is to facilitate the finalisation of the debt restructuring scheme (“DRS”), which is one of the proposals in respect of the Company’ proposed regularisation plan to be undertaken to address the Company’s PN17 classification.


The full details of the DRS and the proposed regularisation plan will be announced by the Company in due course as well as any development on this matter.

 

This announcement is dated 24 March 2014.


HYTEXIN - MATERIAL LITIGATION

Announcement Type: General Announcement
Company NameHYTEX INTEGRATED BERHAD  
Stock Name HYTEXIN  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCS-140324-65207

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionHYTEX INTEGRATED BERHAD (“HIB” OR “THE COMPANY”)
- NOTICE OF DEMAND BY IVORY OCEAN ENTERPRISE (“IVORY”) AGAINST HYTEX GARMENTS (M) SDN BHD (“HGSB”), A WHOLLY-OWNED SUBSIDIARY OF HI

The Board of Directors of HIB wishes to inform that HGSB, a wholly-owned subsidiary of HIB, had on 21 March 2014, been served a Notice of Demand dated 3 March 2014 from Ivory.

(1) Date of the presentation of the Notice of Demand and the date the Notice of Demand was served on the listed issuer, its subsidiary or major associated company.

The Notice of Demand dated 3 March 2014, has been served on HGSB, a wholly-owned subsidiary of HIB vide BP Ang & Tan being the solicitors for Ivory on 21 March 2014.

(2) The particulars of the claim under the Notice of Demand, including the amount claimed for under the Notice of Demand and the interest rate.

The claim pursuant to the Notice of Demand is the sum of RM870,400.80 as at 21 October 2013 together with the interest thereon of which the details of the invoices have been rendered to HGSB.

(3) The details of the default or circumstances leading to the receipt of the Notice of Demand on the listed issuer, its subsidiary or major associated company.

The filing of the Notice of Demand is a result of HGSB failing to settle the outstanding amount of RM870,400.80, being the outstanding amount for goods sold and delivered by Ivory to HGSB.

(4) A confirmation as to whether HGSB is a major subsidiary.

HGSB is a major subsidiary of HIB.

(5) The total cost of investment of HGSB.

The total cost of investment was RM20,994,525.00.

(6) The financial and operational impact of the receipt of Notice of Demand on the Group.

(a) There is no material operational impact arising from the Notice of Demand.
(b) The financial impact resulting from the Notice of Demand will be the expected losses arising from the litigation as mentioned in Section 2 above.

(7) The expected losses, if any, arising from the Notice of Demand.

The Company could be liable for the amount stated in Section 2 above.

(8) The steps taken and proposed to be taken by HIB in respect of the Notice of Demand.

HGSB has been given seven (7) days from the date of the Notice of Demand to settle the outstanding sum of RM RM870,400.80 together with the costs of RM88.00 for issuing of the Notice of Demand, failing which legal proceedings will be taken against HGSB.

The Company is currently in discussion with its solicitors on the next course of action in respect of the above matter.

Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.


This announcement is dated 24 March 2014.



HYTEXIN - MATERIAL LITIGATION

Announcement Type: General Announcement
Company NameHYTEX INTEGRATED BERHAD  
Stock Name HYTEXIN  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCS-140324-64749

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionHYTEX INTEGRATED BERHAD (“HIB” OR “THE COMPANY”)
- WRIT AND STATEMENT OF CLAIM BY MGI ENTERPRISE SDN BHD (“MGI”) AGAINST HYTEX GARMENTS (M) SDN BHD (“HGSB”), A WHOLLY-OWNED SUBSIDIARY OF HI

The Board of Directors of HIB wishes to inform that HGSB, a wholly-owned subsidiary of HIB, had on 21 March 2014 been served a Writ and Statement of Claim from MGI Enterprise Sdn. Bhd. (“the Plantiff”).

1. The date of the presentation of the Writ and Statement of Claim and the date of the Writ and Statement of Claim was served on the listed issuer, its subsidiary or major associated company.
The Writ is dated 6 March 2014 and the Statement of Claim is dated 4 March 2014. Both were served on HGSB vide BP Ang & Tan being the solicitors for the Plaintiffs on 21 March 2014.

2. The particulars of the claim under the Writ and Statement of Claim, including the amount claimed for and the interest rate
The claim pursuant to the Writ and Statement of Claim is as below:
(a) the sum of RM1,540,961.86 as at 1 April 2013;
(b) interest accruing on the sum of RM1,540,961.86 at the rate of 5% per annum calculated from the date of judgment until the date of full and final settlement; and
(c) costs on a solicitors and client basis.

3. The details of the default or circumstances leading to the filing of the Writ and Statement of Claim on the listed issuer, its subsidiary or major associated company.
The filing of the Writ and Statement of Claim is a result of HGSB failing to settle the outstanding amount of RM1,540,961.86, being the outstanding amount for goods sold and delivered by MGI to HGSB.

4. Whether HGSB is a major subsidiary of HIB
HGSB is a major subsidiary of HIB.

5. The total cost of investment in HGSB
The total cost of investment was RM20,994,525.00.

6. The financial and operational impact of the Writ and Statement of Claim on the Group.
(a) There is no material operational impact arising from the Writ and Statement of Claim; and
(b) The financial impact resulting from the Writ and Statement of Claim will be the expected losses arising from the litigation as mentioned in Section 2 above.

7. The expected losses, if any, arising from the Writ and Statement of Claim
The Company could be liable for the amount stated in Section 2 above.

8. The steps taken and proposed to be taken by HIB in respect of the Writ and Statement of Claim
The Company is currently in discussion with its solicitors on the next course of action in respect of the above matter.

Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 24 March 2014.


 

 

 




MEGB - Change in Audit Committee

Announcement Type: Change in Audit Committee
Company NameMASTERSKILL EDUCATION GROUP BERHAD  
Stock Name MEGB  
Date Announced24 Mar 2014  
CategoryChange in Audit Committee
Reference NoCM-140324-49139

Date of change24/03/2014
NameMathuraiveran A/L Marimuthu
Age51
NationalityMalaysian
Type of changeRedesignation
Previous PositionMember of Audit Committee
New PositionChairman of Audit Committee
DirectorateIndependent & Non Executive
Qualifications 
Working experience and occupation  
Directorship of public companies (if any) 
Family relationship with any director and/or major shareholder of the listed issuer 
Any conflict of interests that he/she has with the listed issuer 
Details of any interest in the securities of the listed issuer or its subsidiaries 
Composition of Audit Committee (Name and Directorate of members after change)1. Mathuraiveran A/L Marimuthu (Chairman of Audit Committee / Independent Non-Executive Director)
2. Wisun Soon (Member of Audit Committee / Senior Independent Non-Executive Director)
3. Liew Kok Wai (Member of Audit Committee / Non-Independent Non-Executive Director)


KIMLUN - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD

Announcement Type: General Announcement
Company NameKIMLUN CORPORATION BERHAD  
Stock Name KIMLUN  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCK-140324-64002

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS OUTSIDE CLOSED PERIOD
DescriptionDEALINGS BY DIRECTOR OUTSIDE CLOSED PERIOD PURSUANT TO PARAGRAPH 14.09(a) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD.

The Executive Director of Kimlun Corporation Berhad ("the Company"), Chin Lian Hing, has given notice of his dealing in the securities of the Company during outside closed period as follows:-

Date of Disposal

Number of Warrants

Consideration Per Unit

Percentage (%)

Name of Registered Holder

20.03.2014

100,000 (Direct)

RM0.515

0.17

Alliancegroup Nominees (Tempatan) Sdn Bhd for Chin Lian Hing

20.03.2014

100,000 (Direct)

RM0.525

0.17

Alliancegroup Nominees (Tempatan) Sdn Bhd for Chin Lian Hing



KIMLUN - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD

Announcement Type: General Announcement
Company NameKIMLUN CORPORATION BERHAD  
Stock Name KIMLUN  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCK-140324-61293

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS OUTSIDE CLOSED PERIOD
DescriptionDEALINGS BY DIRECTOR OUTSIDE CLOSED PERIOD PURSUANT TO PARAGRAPH 14.09(a) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD.

The Executive Chairman of Kimlun Corporation Berhad ("the Company"), Pang Tin @ Pang Yon Tin, has given notice of his dealing in the securities of the Company during outside closed period as follows:-

Date of Acquisition

Number of Ordinary Shares of RM0.50 each

Consideration Per Unit

Percentage (%)

Name of Registered Holder

19.03.2014

100,000 (Direct)

RM1.54

0.03

Phin Sdn Bhd

20.03.2014

167,000 (Direct)

RM1.54

0.06

Phin Sdn Bhd

21.03.2014

100,000 (Direct)

RM1.55

0.03

Phin Sdn Bhd

* Deemed interested pursuant to Section 6A of the Companies Act, 1965



KIMLUN - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD

Announcement Type: General Announcement
Company NameKIMLUN CORPORATION BERHAD  
Stock Name KIMLUN  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCK-140324-58876

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS OUTSIDE CLOSED PERIOD
DescriptionDEALINGS BY DIRECTOR OUTSIDE CLOSED PERIOD PURSUANT TO PARAGRAPH 14.09(a) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD.

The Executive Director of Kimlun Corporation Berhad ("the Company"), Yam Tai Fong, has given notice of her dealing in the securities of the Company during outside closed period as follows:-

Date of Disposal

Number of Warrants

Consideration Per Unit

Percentage (%)

Name of Registered Holder

20.03.2014

100,000 (Direct)

RM0.535

0.17

Yam Tai Fong



KIMLUN - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD

Announcement Type: General Announcement
Company NameKIMLUN CORPORATION BERHAD  
Stock Name KIMLUN  
Date Announced24 Mar 2014  
CategoryGeneral Announcement
Reference NoCK-140324-64409

TypeAnnouncement
SubjectDEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
DEALINGS OUTSIDE CLOSED PERIOD
DescriptionDEALINGS BY DIRECTOR OUTSIDE CLOSED PERIOD PURSUANT TO PARAGRAPH 14.09(a) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD.

The Chief Executive Officer of Kimlun Corporation Berhad ("the Company"), Sim Tian Liang, has given notice of his dealing in the securities of the Company outside closed period as follows:-

Date of Disposal

Number of Warrants

Consideration Per Unit

Percentage (%)

Name of Registered Holder

20.03.2014

10,000 (Direct)

RM0.515

0.02

TA Nominees (Tempatan) Sdn Bhd for Sim Tian Liang

20.03.2014

5,000 (Direct)

RM0.520

0.01

TA Nominees (Tempatan) Sdn Bhd for Sim Tian Liang

20.03.2014

15,000 (Direct)

RM0.525

0.02

TA Nominees (Tempatan) Sdn Bhd for Sim Tian Liang

20.03.2014

10,000 (Direct)

RM0.535

0.02

TA Nominees (Tempatan) Sdn Bhd for Sim Tian Liang

20.03.2014

10,000 (Direct)

RM0.490

0.02

TA Nominees (Tempatan) Sdn Bhd for Sim Tian Liang

21.03.2014

30,000 (Direct)

RM0.465

0.05

TA Nominees (Tempatan) Sdn Bhd for Sim Tian Liang



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