Announcement Details :
In accordance with Bursa Malaysia Securities Berhad's ("Bursa Securities") Corporate
Disclosure Policy, the Company would like to clarify on the following statements which
appeared in the Financial Daily, Home Business section, page 4 on Tuesday, 26 February
2008:-
"It declared a 20% dividend."
The Company wishes to correct the above statement which seemed to suggest the Company
have unilaterally declared such amount of dividend. However, the fact of the matter is
that the Board of Directors had deliberated on the results of the unaudited fourth
quarter financial statements of the Group and intends to propose at the forthcoming
Annual General Meeting ("AGM") a final dividend of 20% of the audited profit for the
year ended 31 December 2007 less the Malaysian Corporate Tax for shareholders'
consideration and approval. The book closure and payment dates will be determined later
and appropriate announcement will be made accordingly.
Please refer to the Company's announcement dated 27 February 2008 on the "Proposed Final
Dividend For The Financial Year Ended 31 December 2007".
"… the company targeted to increase revenue in the year ending Dec 31, 2008 to RM1.2
billion…"
The Company wishes to clarify that the above statement had been taken out of context and
misinterpreted by the press as the Company making an estimate of the targeted increase
revenue for FY2008. The management, when enquired, mentioned that since the additional
coke capacity expansion of 600,000 tonnes (50% additional capacity) is scheduled to come
on-stream in June 2008, there could be a corresponding proportion of contribution from
such additional capacity in 2008, based on a simple extrapolation of the financial
results of the current financial year (FY2007) and assuming that all other factors, eg
prices of coke, coal, etc remained theoretically unchanged. In any case, the stated
RM1.2 billion took into account the full year's theoretical impact of the additional
capacity of 600,000 tonnes based on the abovementioned assumptions and parameters,
whereas the said additional capacity will only be introduced in mid 2008, thus should
only be ? year impact for FY2008.
"The management is also preparing a preliminary report on a secondary listing, most
likely to take place in Hong Kong, out of either possible markets of Singapore and
London."
The Company wishes to clarify that the Board of Directors had only requested the
management to explore with the relevant financial advisors on a very preliminary basis
on the possibility and feasibility of a secondary/dual listing on alternative capital
markets and to perform some fact finding exercise for the Board's consideration. Thus
the secondary/dual listing proposition is merely preliminary and exploratory in nature
and should not in any way be construed as the Board having decided to proceed with the
secondary/dual listing initiative.
This announcement is dated 27 February 2008.
