General Announcement

30/06/2010

MEDIA CHINESE INTERNATIONAL LIMITED (the "Company") - Recurrent Related Party Transaction ("RRPT") pursuant to paragraph 10.09(e) and Practice Note 12 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad

MEDIA CHINESE INTERNATIONAL LIMITED

TypeAnnouncement
SubjectMEDIA CHINESE INTERNATIONAL LIMITED (the "Company")
- Recurrent Related Party Transaction ("RRPT") pursuant to paragraph 10.09(e) and Practice Note 12 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
ContentsReference is made to :-
(i) The RRPT on disposal of scraps entered into between Nanyang Press Holdings Berhad, a wholly-owned subsidiary of the Company and its subsidiaries (Nanyang Group) and Malaysian Newsprint Industries Sdn Bhd (MNI) as approved by the shareholders of the Company at the last Annual General Meeting held on 26 August 2009.
(ii) On 31 May 2010, the actual value transacted for the said RRPT was RM2.94 million, which had exceeded 10% or more of the estimated value of RM2.66 million. An announcement on such deviation was made to Bursa Malaysia Securities Berhad on the same day.

The Board of Directors of the Company wishes to announce that the actual value of the RRPT pertaining to the disposal of scraps from Nanyang Group to MNI has today exceeded 10% or more of the actual value of RM2.94 million as previously announced to Bursa Malaysia Securities Berhad on 31 May 2010. The increase in the value transacted was due to the increased quantities of scrap sales to MNI as they had offered competitive pricing terms as compared to other unrelated third parties.

Further details are provided in Table A below.

This announcement is dated 30 June 2010.

Announcement Info

Company NameMEDIA CHINESE INTERNATIONAL LIMITED  
Stock Name MEDIAC
Date Announced30 Jun 2010  
CategoryGeneral Announcement
Reference NoMCI-100630-7C217

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