Contents :
With reference to the Exchange's letter dated 10 October 2003 pertaining to the unusual market activity in accordance to the paragraph 9.11 of the Listing Requirements, the board of directors wish to confirm that, to the best of our knowledge we are not aware any of the following:-
1. any material development in the Company's business and affairs not previously disclosed, apart from the announcement on the acquisition of Intra Oil Services Berhad on 29 September 2003.
2. any impending change in the major shareholders; and
3. any other reasons to account for the unusual market action.
We also confirm that none of the situation/events subject to the continuing disclosure requirements set out in Chapter 9 of the KLSE's Listing Requirements.
Query Letter Contents :
We draw your attention to the sharp decrease in price and high volume in your
Company’s shares recently.
In accordance with paragraph 9.11 of the Exchange’s Corporate Disclosure Policy
on Response To Unusual Market Activity, you are requested to furnish the
Exchange with an announcement for public release after a due enquiry seeking
the cause of the unusual market activity in the Company’s securities. When
considering your response and when making the required announcement, your
attention is particularly drawn to the continuing disclosure requirements set
out in Chapter 9 of the KLSE’s Listing Requirements.
The announcement is to reach the Exchange within one (1) market day via KLSE
Listing Information Network (“KLSE Link”).
Yours faithfully
CHEONG VOON PIOW
Sector Head
Listing Compliance
/sns