General Announcement

17/09/2004

ACQUISITION OF THE ENTIRE ISSUED AND PAID UP CAPITAL OF PACIFIC BEAUTY SDN BHD (500077 H)

NTPM HOLDINGS BERHAD

Type

Announcement
SubjectACQUISITION OF THE ENTIRE ISSUED AND PAID UP CAPITAL OF PACIFIC BEAUTY SDN BHD (500077 H)

Contents :

    1. INTRODUCTION
        The Board of Directors of NTPM Holdings Berhad (NTPM or the Company) is pleased to announce that it has on 17 September 2004 acquired 11,398 ordinary shares of RM1.00 each in the capital of Pacific Beauty Sdn Bhd (PBSB) representing its entire issued and paid up capital from the following vendors, for a total cash consideration of Ringgit Malaysia Two Thousand (RM2,000.00) only.

        Name of Vendors
        No. of shares in PBSB acquired from the Vendors
        Consideration (RM)
        Ooi Kian Eng
        11,397
        1,999.00
        Azman bin Sulaiman
        1
        1.00

    2. INFORMATION ON PACIFIC BEAUTY SDN BHD
        PBSB is a company incorporated in Malaysia on 27 November 1999 with a total issued and paid-up capital of RM11,398.00 comprising of 11,398 ordinary shares of RM1.00 each. PBSBs principal activity is general trading.
    3. BASIS OF VALUATION AND FUNDING
        The total purchase consideration of RM2,000.00 was arrived at on a willing buyer-willing seller basis and will be funded by internal funds.

        The original cost of investment of the Vendors was RM11,398.00.

    4. RATIONALE FOR THE ACQUISITION AND FUTURE PROSPECTS

        The acquired company will become a vehicle to the NTPM Group to venture into information technology related businesses, catering to the needs of related companies in the Group as well as extending the services to external parties.
    5. EFFECTS OF THE ACQUISITION

    a) Earnings
            The acquisition is not expected to have a material impact on the earnings of NTPM for the financial year ending 30th April 2005.

    b) Net Tangible Assets, Share Capital and Substantial Shareholders
    Shareholding

            The acquisition does not have an impact on the net tangible assets, share capital of the Company as well as the shareholding of its substantial shareholders.

    6. CONDITION OF THE ACQUISITION
        The above acquisition is not subject to the approval of shareholders and the relevant government authorities in Malaysia.

    7. SECURITIES COMMISSION GUIDELINES
        The above acquisition has not departed from the Securities Commission Policies and Guidelines on Issue / Offer of Securities.

    8. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTEREST
        None of the Directors or substantial shareholders of the Company has any interest in the above transaction.

    9. DIRECTORS STATEMENT
        The Directors of NTPM, after careful deliberation, are of the opinion that the acquisition is in the best interest of the Company.

Announcement Info

Company NameNTPM HOLDINGS BERHAD  
Stock Name NTPM
Date Announced17 Sept 2004  
CategoryGeneral Announcement
Reference NoCS-040916-41513

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