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General Announcement

Reference No CK-110418-58459

Company Name



Stock Name



Date Announced






Reply to query

Reply to Bursa Malaysia's Query Letter - Reference ID





Disposal of Investments in TDM Berhad ("TDM") to Terengganu Incorporated Sdn Bhd ("Disposal")



Disposal of Investments in TDM Berhad ("TDM") to Terengganu Incorporated Sdn Bhd ("Disposal")

Query Letter content


We refer to your Company's announcement dated 13 April 2011, in respect of the aforesaid matter.


In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:-

To quantify in percentage based on the 830,640 TDM's shares held by your Company;

The direct and indirect shareholdings of Terengganu Incorporated Sdn Bhd in your Company;

Basis in arriving at the gain on disposal;

The date of acquisition of 830,640 TDM's shares;

The Details breakdown for the proposed utilisation of proceeds under working capital and timeframe for full utilisation of proceeds;

Net profit and net assets of TDM based on its latest audited financial statements; and

Name and identity of the interested directors and persons connected to the interested directors and major shareholders (if any) in connection with the Disposal. In this respect, to confirm also whether the interested directors has abstained from expressing its opinion on the Disposal.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

Head, Issuers
Listing Division

copy to:- General Manager & Head, Market Surveillance, Securities Commission (via fax)

Annoucement Details/Table Section :

We refer to your letter dated 15 April 2011 and as requested please find our response:

1. We have a total of 2,177,334 shares or 0.94% of TDM Berhad for which 830,640 or 0.36% were sold. Following the disposal we will hold 1,306,694 shares or 0.58% interest in TDM Berhad.

2. As at the date of disposal of the TDM Berhad shares, Terengganu Incorporated Sdn Bhd directly holds 79,404,881 shares or 59.02% interest in our Company.The Company has no indirect holding.

3. The gain on disposal is RM557,194 and was arrived at book value of the shares (RM1,320,718) less cost of the shares RM763,524.

4. The TDM Berhad shares were acquired in 2004.

5. The disposal proceeds would be applied towards working capital such as follows:

a. Payment of premium to Jabatan Perhutanan Negeri Terengganu of RM1,375,000 in May 2011; and

b. Part finance the working capital requirement of subsidiary of RM1,033,356 for the months from June to December 2011.

6. Based on the latest audited financial statements of TDM Berhad, its net profit and net assets were RM55,947,000 and RM647,868,000 respective.

7. The directors deemed interested in the Disposal, being directors nominated by the major shareholders to the Board, are YBhg Datuk Zubir bin Embong, YB Dato' Haji Mazlan bin Ngah, En Mohamad bin Shahul Hameed and Mr Wong Shew Yong.

None of the directors have any direct or indirect interests in GPB.

These directors had abstained from expressing an opinion on the Disposal.

8. Save for Terengganu Incorporates Sdn Bhd and the interested directors mentioned above, none of the other directors, major shareholders and/or persons connected to the directors and major shareholders are interested in the Disposal.





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