General Announcement

28/02/2003

LAPSE OF INVESTMENT CONTRACT BETWEEN SUBSIDIARY OF CIMB BERHAD AND A SUBSTANTIAL SHAREHOLDER

CIMB BERHAD

Type

Announcement
SubjectLAPSE OF INVESTMENT CONTRACT BETWEEN SUBSIDIARY OF CIMB BERHAD AND A SUBSTANTIAL SHAREHOLDER

Contents :

      In the Prospectus issued in conjunction with the listing of the Company on the Main Board of the Kuala Lumpur Stock Exchange dated 2 December, 2002, disclosure was made that the Company's wholly-owned subsidiary, Commerce International Merchant Bankers Berhad ("Commerce International ") had on 18 July 2001 entered into an Investment Contract with the Company's substantial shareholder, Commerce Asset-Holding Berhad ("CAHB"), whereby CAHB had agreed to invest up to a maximum of Euro 6,400,000 in Global TIMES Ventures GmbH & Co. KG ("GTV"). GTV is a limited partnership in which Commerce International has contracted to acquire a 20% interest, amounting to a total investment of Euro 11,400,000, through an Agreement dated 18 June 2001 (GTV Agreement) signed with T-Venture Holding GmbH of Germany (formerly known as T-Telematik Venture Holding GmbH) ("T-Ventures"). The obligations of CAHB in the Investment Contract and terms of CAHBs participation in Commerce International's investment in GTV is conditional upon Commerce International making its investment in GTV.

      CIMB Berhad wishes to announce that the Investment Contract signed between Commerce International and CAHB has now lapsed as a result of the termination of the GTV Agreement.

    This announcement is dated 28 February 2003.

Announcement Info

Company NameCIMB BERHAD  
Stock Name CIMB
Date Announced28 Feb 2003  
CategoryGeneral Announcement
Reference NoCC-030228-63588

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