|5229 CAP CHINA AUTOMOBILE PARTS HLD LTD|
|Quarterly rpt on consolidated results for the financial period ended 30/9/2013|
18/11/2013 06:34 PM
OTHERS CHINA AUTOMOBILE PARTS HOLDINGS LIMITED (“CAP” OR THE “COMPANY”) - ARTICLES RELATING TO PRIVATISATION OF THE COMPANY
|CHINA AUTOMOBILE PARTS HOLDINGS LIMITED|
|Description||CHINA AUTOMOBILE PARTS HOLDINGS LIMITED (“CAP” OR THE “COMPANY”)|
- ARTICLES RELATING TO PRIVATISATION OF THE COMPANY
Reference is made to an article appearing in NanYang Siang Pau on even date quoting a source alleging that CAP has the intention of transferring its listing to the Indonesia Stock Exchange. Based on its source, Low Thiam Hoe, a former executive director of Golden Plus Holdings Berhad (a company listed on the Main Board of Bursa Securities) and Lim Kim Chai, a major shareholder of Sersol Berhad (a company listed on the ACE Market of Bursa Securities) have recently been in touch with Terry Li GuoQing, the Managing Director and a major shareholder of CAP whereby the various parties are in discussions to jointly take full control of the Company and thereafter delist the Company from Bursa Securities and subsequently relist CAP on the Indonesian Stock Exchange. At present, 20% of CAP’s turnover is from South-East Asia of which the Indonesia market accounted for a large proportion. It was reported that based on its sources, the Indonesian car market is larger than Malaysian car market and hence the Company has the intention of seeking a listing on the Indonesia Stock Exchange and positioning it as an Indonesian brand to penetrate into the Indonesian market.
Further to the above, in a separate article appearing in China Press also on even date, it was allaged that Low Thiam Hoe, a former executive director of Golden Plus Holdings Berhad (a company listed on the Main Board of Bursa Securities) has the intention of privatising CAP at RM0.70 per share. Sources to China Press said Low Thiam Hoe lead a group in discussion with Terry Li GuoQing, the Managing Director of CAP on the privatisation of the Company. Once privatised, Low Thiam Hoe plans to list CAP on the Indonesian Stock Exchange. Based on the source, the Indonesian market has huge growth potential and the offeror has the intention of positioning CAP as an Indonesian company. It was reported that Low Thiam Hoe is working with He Jin Kun on the above privatisation.
In relation to the above, the Board of Directors of the Company wishes to confirm that to the best of its knowledge and after making due enquiry with Terry Li GuoQing, the Managing Director of CAP, and the other substantial shareholders of CAP seeking their views on the abovementioned matter, the Company is not aware and has no knowledge of any rumour or report concerning the abovementioned matters. Further, the Company wishes to inform that Terry Li GuoQing and the other substantial shareholders of CAP have confirmed that they do not know any of the persons quoted above.
This announcement is dated 18 November 2013.
|Company Name||CHINA AUTOMOBILE PARTS HOLDINGS LIMITED|
|Date Announced||18 Nov 2013|