JF TECHNOLOGY BERHAD (JF TECH or the Company) - EXTENSION OF TIME FOR UTILISATION OF INITIAL PUBLIC OFFERING PROCEEDS FOR PURCHASE OF RESEARCH AND DEVELOPMENT EQUIPMENT AND MANUFACTURING EQUIPMENT

Type	Announcement
Subject	JF TECHNOLOGY BERHAD (JF TECH or the Company) - EXTENSION OF TIME FOR UTILISATION OF INITIAL PUBLIC OFFERING PROCEEDS FOR PURCHASE OF RESEARCH AND DEVELOPMENT EQUIPMENT AND MANUFACTURING EQUIPMENT
Contents	The Board of Directors of JF Tech wishes to announce that as at 31 March 2010, an amount of RM4,705,000 (arising from the public issue which was completed on 16 April 2008 and allocated to purchase research and development equipment and manufacturing equipment) has yet to be fully utilised for its intended purposes. As of 31 March 2010, the Company had utilised approximately RM1,815,000. The details of the utilisation of proceeds as at 31 March 2010 are reflected in the table below. As such, the Board of Directors of JF Tech wishes to announce that the Board of Directors had resolved and approved an extension of time of one (1) year until 15 April 2011 for the utilisation of the remaining proceeds. This announcement is dated 15 April 2010.
Purpose Proposed Utilisation Actual Utilisation Balance Explanation RM000 RM000 RM000 % Purchase of R&D equipment 2,055 124 1,931 93.97 Deposit for machine Purchase of manufacturing equipment 2,650 1,691 959 36.19 Deposit for machine Total 4,705 1,815 2,890 61.42