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Bursa Updates
| Date Announced: |
05/01/2010 |
| Subject: |
HO HUP CONSTRUCTION COMPANY BERHAD ("Ho Hup" or "the Company")
| - |
UNUSUAL MARKET ACTIVITY |
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| Contents: |
We refer to the letter from Bursa Malaysia Berhad dated 5 January 2010 relating to their query on the unusual market activity in Ho Hup’s shares recently.
The Board of Directors of Ho Hup, after having made due enquiry, wishes to inform that, to the best of their knowledge, they are not aware of any of the following that may have contributed to the unusual market activity:
| 1. |
any corporate development relating to Ho Hup Group's business and affairs that has not been previously announced that may account for the unusual market activity; |
| 2. |
any rumour or report concerning the business and affairs of Ho Hup Group that may account for the unusual market activity; and |
| 3. |
any other possible explanation to account for the unusual market activity. |
At the Board of Directors' meeting held at 6 p.m. on 4 January 2010, the Board had discussed on a possible fund raising exercise to raise the necessary funds for Ho Hup Group's immediate operational requirements pending the implementation of the Proposed Regularisation Plan previously announced by Ho Hup. As announced on 4 January 2010, the Proposed Regularisation Plan is currently pending the decision of Bursa Malaysia Securities Berhad.
However, no decision was made by the Board on the above matter yesterday as the Board will need to consult its advisers on the options available to the Company on the said matter. The Company will make the necessary announcement on any proposal upon the approval of the Board in compliance with paragraph 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
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| Query Letter content: |
We draw your attention to the sharp rise in price and volume in your Company's shares recently.
In accordance with the Corporate Disclosure Policy on Response To Unusual Market Activity pursuant to paragraph 9.11 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Main Market LR"), you are requested to furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with an announcement for public release after making a due enquiry seeking the cause of the unusual market activity in the Company's shares.
In this respect, you are also required to publicly confirm, amongst others, the following:-
| 1. |
whether there is any corporate development relating to your Group's business and affairs that has not been previously announced that may account for the unusual market activity including those in the stage of negotiation / discussion. If yes, kindly provide the details including the status of the corporate development to enable investors to make informed investment decision; |
| 2. |
whether there is any rumour or report concerning the business and affairs of the Group that may account for the unusual market activity and in this respect, you are required to comply with paragraphs 9.09 and 9.10 of the Main Market LR; |
| 3. |
whether you are aware of any other possible explanation to account for the unusual market activity; and |
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your compliance with the Main Market LR, in particular paragraph 9.03 on disclosure of material information. |
Please note that the contents of the announcement must be endorsed by the Board
of Directors of the Company and the announcement must reach Bursa Securities
immediately via Bursa LINK.
Yours faithfully
MARZUKI MAIDIN
Senior Manager, Issuers
Listing Division
Regulation
MZM/RSA
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