General Announcement for PLC

01/07/2015

Letter Subject or Reference -Proposed Acquisition of 60% Equity Interest in Syscomp Technology Sdn Bhd by Wintoni Group Berhad ("Proposed Acquisition")

WINTONI GROUP BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-24062015-00001
Subject Letter Subject or Reference -Proposed Acquisition of 60% Equity Interest in Syscomp Technology Sdn Bhd by Wintoni Group Berhad ("Proposed Acquisition")
Description 
Wintoni Group berhad ("Wintoni" or "The Company")
-Proposed Acquisition of 60% Equity Interest in Syscomp Technology Sdn Bhd by Wintoni Group Berhad
Query Letter Contents

We refer to your Company’s announcement dated 23 June 2015, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. The name of the independent valuer, date and method of valuation and quantification of the indicative fair value range.

2.  The effect of Proposed Acquisition on gearing of the Wintoni Group Berhad group.

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

 

Yours faithfully,

 

TAN YEW ENG
Vice President, Issuers,
Listing Division, Regulation

TYE/NZ

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

Further to the Company’s announcement dated 23 June 2015 in respect of the subject-matter (“Announcement”) and in reply to the letter dated 24 June 2015 from Bursa Securities Malaysia Berhad, we wish to furnish the following additional information :-

1. The name of the independent valuer, date and method of valuation and quantification of indicative fair value range.

The valuer engaged for the valuation exercise in relation to the Proposed Acquisition is Salihin Capital Sdn Bhd. The valuer has, vide its valuation report dated 19 June 2015, opined that the fair value of the equity of Syscomp is betwen RM12.5 million to RM15.3 million by applying the earning capitalisation methodology.

2. The effect of Proposed Acquisition on gearing of the Wintoni Group Berhad.

As mentioned in section 6 of the Announcement, the Proposed Acquisition will be funded by Wintoni’s internal generated funds. Therefore, there shall be no effect on the gearing of
Wintoni.

This announcement is dated 1 July 2015.


Announcement Info

Company Name WINTONI GROUP BERHAD
Stock Name WINTONI
Date Announced 01 Jul 2015
Category General Announcement for PLC
Reference Number GA1-01072015-00091


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