Hope HARD that after this it will come out from PN17 soon, I have waited since DECEMBER 2009.
TALAM - SETTLEMENT OF DEBTS
The Board of Directors of Talam wishes to announce that the Company has on 12 March 2010 entered into a Settlement Agreement with Menteri Besar Selangor (Incorporated) [MBI] to settle the sum of RM241,367,317.09 (Ringgit Malaysian Two Hundred and Forty One Million Three Hundred and Sixty Seven Thousand Three Hundred and Seventeen and Sen Nine) owing to Menteri Besar Selangor (Incorporated) by way of disposal of properties and cash payment (the Settlement).
| Talam settles RM241.3m owing to Menteri Besar Selangor Inc. |  |  |  |
| Written by Joseph Chin |
| Monday, 15 March 2010 11:24 |
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 It said on Monday, March 15 the cash payment was RM12.67 million while unencumbered properties were valued at RM44.72 million and encumbered properties at RM183.97 million. The settlement agreement was entered into on Saturday. Trading was suspended since 9am on Monday and will resume at 2.30pm. "The settlement will reduce the group’s net assets from 20.25 sen per share (based on audited financial statements as at Jan 31, 2009 and ordinary share capital adjusted to par value of 20 sen each) to 19.15 sen per share as a result of the losses incurred on the disposal of the properties," it said. Talam said the settlement, however will reduce group’s gearing ratio from 1.92 to 1.77. "The settlement will result in losses amounting to RM21.16 million, thereby reducing the group’s earning per share by 1.10 sen per share," it said. |
