Pursuant to the approval letter from the Securities Commission Malaysia
(SC) dated 31 March 2008 for the listing
of Sunzen on the MESDAQ Market (now known as ACE Market) of Bursa Malaysia
Securities Berhad (Bursa Securities),
Sunzen is required to increase its Bumiputera equity interest in the Company to
30% within five (5) years after being listed or one (1) year after Sunzen has
achieved the profit track record requirement for companies applying for listing
on the Second Board of Bursa Securities, whichever is earlier (Bumiputera Equity Condition).
Subsequently, a revision has been made to the Bumiputera Equity Condition
including any listing of an MSC-status/BioNexus-status corporation or a
corporation with a subsidiary carry MSC-status/BioNexus-status which is a major
contributor (more than 50%) to the groups profitability, business or
operations for the most recent financial year are exempted from the Bumiputera
Equity Condition.
On behalf of the Board of Directors of Sunzen, TA Securities wishes to announce
that the SC has waived the Bumiputera Equity Condition vide its letter dated 18
April 2014 on the basis that Sunzen LifeSciences Sdn. Bhd., a wholly-owned
subsidiary of Sunzen, is carrying the BioNexus-status and has contributed more
than 50% of the groups profitability.
This announcement is dated 21 April 2014.