2004 - Hiap Teck Venture Berhad

ISSUE OF SHARES AND INITIAL PUBLIC OFFERING
In conjunction with the listing of the Company's shares on the Main Board of Bursa Malaysia Securities Berhad (the
"Exchange"), the Company increased its issued and paid-up ordinary share capital from RM118,100,000 to
RM163,700,000 by way of the issuance of:
(i)
(ii)
(iii)
10,000,000 ordinary shares of RM0.50 each through a public issue at an issue price of RM0.55 per ordinary share;
66,400,000 ordinary shares of RM0.50 each through a private placement at an issue price of RM0.55 per ordinary
share; and
14,800,000 ordinary shares of RM0.50 each through a restricted issue at an issue price of RM0.55 per ordinary share.
The share premium arising of RM4,560,000 has been credited to the share premium account.
The new ordinary shares rank pari passu in all respects with the then existing ordinary shares of the Company. The entire
issued and paid-up share capital of the Company comprising 327,400,000 ordinary shares of RM0.50 each were
admitted to the Official List of the Exchange on 2 September 2003. The shares were granted quotation on the Main
Board of the Exchange on the same date.
OTHER STATUTORY INFORMATION
(a)
Before the balance sheets and income statements of the Group and of the Company were made out, the directors
took reasonable steps:
(i)
(ii)
to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of
provision for doubtful debts and satisfied themselves that all known bad debts had been written off and that
adequate provision had been made for doubtful debts; and
to ensure that any current assets which were unlikely to realise their value as shown in the accounting
records in the ordinary course of business had been written down to an amount which they might be
expected so to realise.
(b)
At the date of this report, the directors are not aware of any circumstances which would render:
(i)
(ii)
the amount written off for bad debts or the amount of the provision for doubtful debts in the financial
statements of the Group and of the Company inadequate to any substantial extent; and
the values attributed to current assets in the financial statements of the Group and of the Company
misleading.
(c)
(d)
(e)
At the date of this report, the directors are not aware of any circumstances which have arisen which would render
adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading
or inappropriate.
At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report
or financial statements of the Group and of the Company which would render any amount stated in the financial
statements misleading.
As at the date of this report, there does not exist:
(i)
(ii)
any charge on the assets of the Group or of the Company which has arisen since the end of the financial
year which secures the liabilities of any other person; or
any contingent liability of the Group or of the Company which has arisen since the end of the financial year.
20 HIAP TECK VENTURE BERHAD