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Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID |
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TE-101115-52563 |
| Subject |
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| CBD DEVELOPMENT SDN BHD (CBDD) |
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| Contents |
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Our announcement on 12 November 2010 refers.
Knusford Berhad (KB or the Company) is pleased to furnish herewith the following additional information as required by Bursa Malaysia Securities Bhd (Bursa Securities) via its letter dated 16 November 2010:-
1. The effect of the subscription by KB (Subscription) on the gearing of the KB group.
- The Subscription will not have any effect on KB’s group gearing.
2. Whether the directors and/or major shareholders and/or persons connected with a director or major shareholder have any interest, direct or indirect, in the Subscription and the nature and extent of their interest.
- None of the directors, and/or major shareholders and/or persons connected with a director or major shareholder has any interest, direct and indirect in the Subscription save and except for Dato Lim Kang Hoo and Mr Lim Keng Cheng by virtue of them being directors and shareholders in Danga Bay Sdn Bhd who in turn also subscribed for 30,000 shares in CBDD.
3. The prospects of CBDD
- As CBDD is still in the preliminary stage of negotiation on its participation in the Proposed Transformation Plan for Johor Bahru City, the Board is unable to assess the prospects of CBDD at the moment but nevertheless, the Board expects CBDD to contribute positively to the growth of KB Group in later years.
4. The risks in relation to the Subscription including risk factors of CBDD.
- There are no risks in relation to the Subscription of CBDD. The risks in relation to any further investment in CBDD will depend on the outcome of the negotiation on the participation in the Proposed Transformation Plan for Johor Bahru City.
5. The highest percentage ratio applicable to the Subscription pursuant to paragraph 10.02 (g) of the Main Market Listing Requirements.
- Negligible
6. The eventual issued and paid-up capital of CBDD.
- The Board/Shareholders has not decided on the eventual issued and paid-up share capital of CBDD at this moment.
7. The source(s) of funds for financing KB’s investment in CBDD, and breakdown.
- The current subscription of share capital in CBDD is through internal generated fund. Any further investment in CBDD will depend on the outcome of the negotiation on the participation in the Proposed Transformation Plan for Johor Bahru City. |
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We refer to your announcement dated 12 November 2010 in respect of the
abovecaptioned matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
(1) The effect of the subscription by Knusford Berhad ("Knusford")
("Subscription") on the gearing of the Knusford group.
(2) Whether the directors and/or major shareholders and/or persons connected
with a director or major shareholder have any interest, direct or indirect, in
the Subscription and the nature and extent of their interests.
(3) The prospects of CBDD.
(4) The risks in relation to the Subscription including risk factors of CBDD.
(5) The highest percentage ratio applicable to the Subscription pursuant to
paragraph 10.02(g) of the Main Market Listing Requirements.
(6) The eventual issued and paid-up capital of CBDD.
(7) The source(s) of funds for financing Knusford's investment in CBDD, and the
breakdown.
Kindly furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Regulation
TYE/TEK
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax) |
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