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29 Jun 2007

Malaysia Steel Works (KL) Bhd ("MASTEEL" or "the Company")
- "Masteel revenue to hit RM500m"

Contents :

    We refer to the query dated 29 June 2007 from Bursa Malaysia Securities Berhad in relation to the article appearing in The Edge, Financial Daily page 8 on Friday, 29 June 2007 reproduced as follows:-

    “Malaysia Steel Works (KL) Bhd (Masteel) expects its revenue to touch the RM500 million mark by the end of the year….”

    The Directors would like to clarify that, they have informed the reporters that will be no press conference after the Annual General Meeting yesterday.

    However, as the reporters persistently continued to question the MD/CEO on the steel industry, he has categorically informed the reporters that the Company will not be making any projections in view of new Bursa Securities disclosure requirements.

    In the process of explaining on the increase in demand and prices for steel worldwide, the MD/CEO indicated that with the Company’s kind of plant, it would potentially achieve a turnover of RM500 million.

    This announcement is dated 29 June 2007.

 






Query Letter content :
We refer to the above article appearing in The Edge, Financial Daily, page 8,
on Friday, 29 June 2007, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentences
which are reproduced as follows:-

"Malaysia Steel Works (KL) Bhd (Masteel) expects its revenue to touch the RM500
million mark by the end of the year......"

In accordance with Bursa Securities' Corporate Disclosure Policy, you are
requested to furnish Bursa Securities with an announcement for public release
confirming or denying the above reported article in particular the underlined
sentence after due and diligent enquiry with all the directors, major
shareholders and all such other persons reasonably familiar with the matters
about which the disclosure is to be made in this respect. In the event you deny
the above reported sentence or any other part of the article, you are required
to set forth facts sufficient to clarify any misleading aspects of the same. In
the event you confirm the above reported sentence or any other part of the
article, you are required to set forth facts sufficient to support the same,
including the relevant basis and assumptions in arriving at the above
forecasts. In this respect, you are required to confirm whether the accounting
bases, calculations and assumptions have been reviewed by the external
auditors.

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


Yours faithfully


CHONG FUI TZY
Head, Issuers
Listing Division
Group Regulations
HTH/LAL
cc: Mr. Chung Tin Fah
Securities Commission (via fax)

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