DISPOSAL OF TAKASO SC (THAILAND) LIMITED, A WHOLLY OWNED SUBSIDIARY OF O&C RESOURCES BERHAD

We refer to your Company’s announcement dated 4 February 2016, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) Given that TSC is currently dormant and is the legal owner of the properties, please provide further clarification on the nature/details of advances made to TSC by O&C Resources Berhad and the usage of such advances;

2) The rationale for choosing "Cost Analysis" method to value the Property; 

3) Quantification of the adjusted audited Net Assets of TSC after taking into consideration the valuation surplus/deficit of the Property after the valuation exercise, and to provide justification for the disposal consideration based on the adjusted audited Net Assets;

4) The rationale of disposing TSC at a loss; and

5) Tabulation on how to derive the loss on disposal of RM1.3 million.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,
 

HENG TECK HENG
Vice President, Issuers
Listing Division, Regulation

IJ

Cc : Market Surveillance Dept. , Securities Commission (via fax)