PROPOSED BUSINESS DIVERSIFICATION - General Announcement - Malaysia Data

4,798,267,200

1,903,738,752

497

616

4,274

3,732

280,646

General Announcement

12/05/2011

PROPOSED BUSINESS DIVERSIFICATION

SERSOL TECHNOLOGIES BERHAD

Type	Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID	TE-110511-51442
Subject	PROPOSED BUSINESS DIVERSIFICATION
Description	SERSOL TECHNOLOGIES BERHAD ("SERSOL" OR THE "COMPANY") REPLY TO QUERY IN RELATION TO THE PROPOSED DIVERSIFICATION OF THE BUSINESS OF SERSOL INTO TRADING OF FERROUS AND NON-FERROUS METAL COMMODITIES ("PROPOSED BUSINESS DIVERSIFICATION")
Query Letter Contents	We refer to your announcement dated 10 May 2011 in respect of the aforesaid matter. In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:- (1) The estimated additional financial commitment required in relation to the Proposed Business Diversification. (2) Whether the Proposed Business Diversification is subject to the approval of the relevant government authorities, and the estimated time frame for submission of the application to the relevant authorities. Kindly furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully TAN YEW ENG Head, Issuers Listing Division Regulation TYE/TEK c.c:- General Manager and Head, Market Surveillance Department, Market Supervision Division, Securities Commission (via fax)
Reference is made to the query letter from Bursa Malaysia Securities Berhad dated 11 May 2011 in respect of the Company's announcement dated 10 May 2011 in relation to the above. The Company hereby furnished the additional information for public release: (1) The estimated additional financial commitment required in relation to the Proposed Business Diversification. Apart from the working capital required of approximately RM3 million to purchase the ferrous and non-ferrous metal commodities and to meet the operating expenses relating to the Proposed Business Diversification such as staffs' salaries, delivery charges of ferrous and non-ferrous metal commodities to the Group's customers, etc., the Group does not expect to incur additional financial commitment required in relation to the Proposed Business Diversification. As the Group is only involved in trading of ferrous and non-ferrous metal commodities presently, the management of SerSol opines that the recently purchase slitting machine is sufficient for the Group to carry on with its Proposed Business Diversification. (2) Whether the Proposed Business Diversification is subject to the approval of the relevant government authorities, and the estimated timeframe for submission of the application to the relevant authorities. The Proposed Business Diversification is not subject to the approval of the relevant government authorities and hence, there is no application required to be submitted to the relevant authorities.

Announcement Info

Company Name	SERSOL TECHNOLOGIES BERHAD (ACE Market)
Stock Name	SERSOL
Date Announced	12 May 2011
Category	General Announcement
Reference No	CU-110512-61851

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