in the court of appeal malaysia (appellate jurisdiction)

As indicated by your Mr. Andrew Lo, we understand that your
headquarters in Taiwan has agreed to sell the 30% shares to us.
Therefore, we would like to formally make an offer to acquire
the 30% shares on the basis as per our Joint Venture
Agreement.
We would also like to propose that the above matter to be
referred to our Auditors, Ernst & Young to determine the
valuation of the Fair and Commercial Price subject to fee and
expenses approved by us.
Thank you.”
The response to this letter was a letter from the petitioner’s solicitors dated
11.5.2001 which reads:
“Chief Executive Officer
Ngiu Kee Corporation (M) Bhd
(Company No. 381317-H)
Lot LG03, G04B2 & 1.03
Wisma Saberkas
Jalan Tun Abang Haji Openg
93000 KUCHING
Dear Madam
Re Joint Venture Agreement Dated 10/07/98
Between Pan-Pacific Construction Holdings Sdn Bhd
And Ngiu Kee Corporation (M) Bhd
We are instructed by Pan-Pacific Construction Holdings Sdn
Bhd to reply to your letter dated 19 April 2001 offering to
acquire our client’s entire shareholdings (“Shares”) in Pacific-
Ngiu Kee Sdn Bhd.
Without prejudice to our Notice of Termination dated 17 April
2001, we are pleased to inform you that our client is willing to
transfer the Shares to your company subject to the following
terms.
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