General Announcement

29/10/2007

DAYA MATERIALS BERHAD ("DMB" OR THE "COMPANY") ACQUISITION BY DAYA POLYMER SDN. BHD.("DPSB"), A 100%-OWNED SUBSIDIARY OF DAYA MATERIALS BERHAD ("DMB") OF TWO (2) ORDINARY SHARES OF RM1.00 EACH IN DAYA HIGHTECH SDN. BHD. ("DHSB") REPRESENTING 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF DHSB FOR A TOTAL CASH CONSIDERATION OF RM2.00 ("ACQUISITION")

DAYA MATERIALS BERHAD

Type

Announcement
SubjectDAYA MATERIALS BERHAD ("DMB" OR THE "COMPANY")

ACQUISITION BY DAYA POLYMER SDN. BHD.("DPSB"), A 100%-OWNED SUBSIDIARY OF DAYA MATERIALS BERHAD ("DMB") OF TWO (2) ORDINARY SHARES OF RM1.00 EACH IN DAYA HIGHTECH SDN. BHD. ("DHSB") REPRESENTING 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF DHSB FOR A TOTAL CASH CONSIDERATION OF RM2.00 ("ACQUISITION")

Contents :

1. INTRODUCTION

      The Board of Directors of DMB is pleased to announce that its wholly owned subsidiary company, Daya Polymer Sdn. Bhd. (DPSB), had on 29 October 2007 acquired two (2) ordinary shares of RM1.00 each in Daya Hightech Sdn. Bhd. (DHSB), representing 100% of the issued and paid-up share capital for a total cash consideration of RM2.00 from Chai Churn Hwa, a Malaysian and Tan Poh Sim, a Malaysian.
2. INFORMATION ON DHSB
      DHSB was incorporated on 10 October 2007 under the Companies Act, 1965 as a private limited company with an authorised share capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each, of which two (2) ordinary shares of RM1.00 each have been issued and fully paid-up. The principal activity of DHSB is the manufacturing of polymer compounds for cable and wire. As at the date of this announcement, DHSB has not commenced business.
3. RATIONALE FOR THE ACQUISITION

      The Acquisition is to facilitate DMB and its subsidiary companies (Group) to expand its business activities within the compounds for wire and cables industry. The Acquisition is expected to contribute positively to the future profitability and cash flow of DMB as well as the stability of its future income stream.
4. EFFECTS OF THE ACQUISITION

      The Acquisition is not expected to have any material effect on the earnings, net assets, share capital, gearing and substantial shareholders shareholdings of DMB for the financial year ending 31 December 2007.
5. DIRECTORS AND MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH DIRECTORS OR MAJOR SHAREHOLDERS INTERESTS

      None of the Directors or major shareholders of DMB or persons connected to the Directors and/or major shareholders of DMB as defined in the Listing Requirements of Bursa Securities for the MESDAQ Market have any interest, direct or indirect, in the Acquisition.
    This announcement is dated 29 October 2007.

    Announcement Info

    Company NameDAYA MATERIALS BERHAD (MESDAQ Market) 
    Stock Name DAYA
    Date Announced29 Oct 2007  
    CategoryGeneral Announcement
    Reference NoCC-071029-50BAC



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