Announcements


Announcements >

Back
Home
Date : 13 April 2004

REPLY TO QUERIES FROM MSEB DATED 12 APRIL 2004 PERTAINING TO THE PROPOSED DISPOSAL OF PJS DEVELOPMENT SDN BHD ("PJSD") ("PROPOSED DISPOSAL")

KUMPULAN JETSON BERHAD

Type

Reply to query
Reply to Query Letter by KLSE reference IDKM-040409-55533
SubjectREPLY TO QUERIES FROM MSEB DATED 12 APRIL 2004 PERTAINING TO THE PROPOSED DISPOSAL OF PJS DEVELOPMENT SDN BHD ("PJSD")
("PROPOSED DISPOSAL")

Contents :

We refer to our announcement dated 7 April 2004 and the Exchange's letter dated 12 April 2004 (ref: KM-040409-55533) in respect of the aforesaid Proposed Disposal.


We are pleased to enclose herewith the following additional information as requested by the Exchange for public release :-

1.0 PJSD reported a net loss of RM55,004/- and net tangible assets of RM6,301,480 as at 31 December 2002.

2.0 There is no liabilities to be assumed by the purchaser, apart from the indebtedness owing by PJSD to Kumpulan Jetson Berhad ("Jetson").

3.0 The proceeds arising from the Proposed Disposal is intended to reduce the Group's borrowings.

4.0 Jetson Group is expected to make an exceptional gain of RM8.06 million upon completion of the Proposed Disposal.

5.0 Net tangible assets per share of Jetson Group is expected to increase by 15.5 sen upon completion of the Proposed Disposal.

6.0 Rationale for the Proposed Disposal is to raise cash to reduce the Group's borrowings thus lowering the Group's gearing.

7.0 The Proposed Disposal is expected to complete within nine months from the date of the Share Sale Agreement ("SSA") subject to the fulfillment of the conditions precedent stipulated in the SSA.

Query Letter Contents :

We refer to your announcement dated 7 April 2004 in respect of the aforesaid
Proposed Disposal.
In this connection, kindly furnish the Exchange with the following additional
information for public release:
Net profit and net tangible assets of PJSD;
Particulars of all liabilites to be assumed by the puchaser, apart from the
indebtedness owing by PJSD to Kumpulan Jetson Berhad ("JETSON"), if any;
Intended utilisation of proceeds arising from the Proposed Disposal;
Expected gain or loss arising from the Proposed Disposal;
Effects of the Proposed Disposal on the net tangible assets per share of JETSON
Group;
Rationale for the Proposed Disposal; and
Estimated timeframe for completion of the Proposed Disposal.



Please furnish the Exchange with your reply within two (2) market days from the
date hereof.
Yours faithfully

INDERJIT SINGH
Sector Head
Issues & Listing
Group Regulations
CKM



Announcement Info

Company NameKUMPULAN JETSON BERHAD  
Stock Name JETSON    
Date Announced13 Apr 2004  
CategoryGeneral Announcement
Reference NoKJ-040412-54439

Back