Contents :
Further to the announcement dated 3 June 2003, we hereby submit the following information relating to the said announcement:-
1) As announced on 3 June 2003, the financial implication to KSUH will be the exposure to a Corporate Guarantee to be given to the extent of RM40 million should the suit be successful. The Company does not foresee any implication on its existing operations should the suit be successful.
2) Any losses arising from the suit will be in relation to the Corporate Guarantee including damages, interest and costs should the suit by EON Bank Berhad be successful.
3) KSUH is referring the matter to its solicitors for appropriate advice and action. The Company will defend the suit.
Query Letter Contents :
We refer to your announcement dated 3 June 2003 in respect of the aforesaid
matter.
In this connection, kindly furnish the Exchange immediately with the following
information for public release:
1. The operational and financial impact on the Group, if any, arising from
the Writ of Summons.
2. The expected losses, if any, arising from the Writ of Summons.
3. The steps that your Company has taken and will take with regards to the
Writ of Summons.
Yours faithfully
INDERJIT SINGH
Senior Manager
Listing Operations
IS/WSW/NMA