2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
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ISSUE OF SHARES AND INITIAL PUBLIC OFFERING<br />
In conjunction with the listing of the Company's shares on the Main Board of Bursa Malaysia Securities <strong>Berhad</strong> (the<br />
"Exchange"), the Company increased its issued and paid-up ordinary share capital from RM118,100,000 to<br />
RM163,700,000 by way of the issuance of:<br />
(i)<br />
(ii)<br />
(iii)<br />
10,000,000 ordinary shares of RM0.50 each through a public issue at an issue price of RM0.55 per ordinary share;<br />
66,400,000 ordinary shares of RM0.50 each through a private placement at an issue price of RM0.55 per ordinary<br />
share; and<br />
14,800,000 ordinary shares of RM0.50 each through a restricted issue at an issue price of RM0.55 per ordinary share.<br />
The share premium arising of RM4,560,000 has been credited to the share premium account.<br />
The new ordinary shares rank pari passu in all respects with the then existing ordinary shares of the Company. The entire<br />
issued and paid-up share capital of the Company comprising 327,400,000 ordinary shares of RM0.50 each were<br />
admitted to the Official List of the Exchange on 2 September 2003. The shares were granted quotation on the Main<br />
Board of the Exchange on the same date.<br />
OTHER STATUTORY INFORMATION<br />
(a)<br />
Before the balance sheets and income statements of the Group and of the Company were made out, the directors<br />
took reasonable steps:<br />
(i)<br />
(ii)<br />
to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of<br />
provision for doubtful debts and satisfied themselves that all known bad debts had been written off and that<br />
adequate provision had been made for doubtful debts; and<br />
to ensure that any current assets which were unlikely to realise their value as shown in the accounting<br />
records in the ordinary course of business had been written down to an amount which they might be<br />
expected so to realise.<br />
(b)<br />
At the date of this report, the directors are not aware of any circumstances which would render:<br />
(i)<br />
(ii)<br />
the amount written off for bad debts or the amount of the provision for doubtful debts in the financial<br />
statements of the Group and of the Company inadequate to any substantial extent; and<br />
the values attributed to current assets in the financial statements of the Group and of the Company<br />
misleading.<br />
(c)<br />
(d)<br />
(e)<br />
At the date of this report, the directors are not aware of any circumstances which have arisen which would render<br />
adherence to the existing method of valuation of assets or liabilities of the Group and of the Company misleading<br />
or inappropriate.<br />
At the date of this report, the directors are not aware of any circumstances not otherwise dealt with in this report<br />
or financial statements of the Group and of the Company which would render any amount stated in the financial<br />
statements misleading.<br />
As at the date of this report, there does not exist:<br />
(i)<br />
(ii)<br />
any charge on the assets of the Group or of the Company which has arisen since the end of the financial<br />
year which secures the liabilities of any other person; or<br />
any contingent liability of the Group or of the Company which has arisen since the end of the financial year.<br />
20 HIAP TECK VENTURE BERHAD