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We refer to the Kuala Lumpur Stock Exchange's ("Exchange") letter dated 9 December 1999 on the sharp increase in price and high volume in Mesiniaga's shares.
In accordance with Section 338 of the Listing Requirements on the Corporate Disclosure Policy on Response to Unusual Market Action, we wish to advice the Exchange that in so far as the Board of Directors are aware :
(i) there is no material development in the company's business and affairs which has not been previously disclosed;
(ii) there is no impending change in the major shareholders; and
(iii) to our knowledge, there is no reason to account for the unusual market action.
In addition, we declare that none of the listed situations/ events contributed to the unusual market action activities.