Article Entitled " Reliance Expects Sales To Grow By 12pc "
BackJan 20, 2005
| General Announcement Reference No RP-050120-53524 |
| Company Name | : | RELIANCE PACIFIC BERHAD |
| Stock Name | : | RPB |
| Date Announced | : | 20/01/2005 |
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| Type | : | Reply to query |
| Reply to Query Letter by KLSE reference ID | : | CY-050119-45381 |
| Subject | : | Article entitled " Reliance expects sales to grow by 12pc " |
Contents :
We refer to your letter dated 19 January 2005.
We have carried out due and diligent enquiry with the directors, major shareholders and all such other persons reasonably familiar with the matters of the disclosure highlighted.
We seek to clarify the below statement.
" Reliance Pacific Berhad expects 2005 to be a buoyant year and has projected a 12 per cent sales growthbased on positive sentiment seen returning on the tourism industry ".
Source : New Strait Times (Business Times), 19 January2005.
1.0 We did not make the above statement in our official press release and neither did Mr. Tan Sin Chong, Executive Director of Reliance Shipping & Travel Agencies Sdn Bhd, a wholly owned subsidiary of Reliance Pacific Berhad, during our press conference held on the
18 January 2005.
All answers provided in the Question and Answer session were in line with the official press release.
2.0 We believe the 12 per cent growth reported refers to the expected growth of a product line Globus & Cosmos in the financial year 2005/06. Reliance Shipping & Travel Agencies Sdn Bhd, a subsidiary of Reliance Pacific Berhad, is an appointed General Sales Agent by Circuit Travel Pty Ltd for Globus & Cosmos in Malaysia & Brunei.
Thank you.
Query Letter content :
We refer to the above article appearing in New Straits Times, Business Times,
page B4 on Wednesday, 19 January 2005, a copy of which is enclosed for your
reference.
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
"Reliance Pacific Bhd expects 2005 to be a buoyant year and has projected a 12
per cent sales growth ... "
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentence after due and diligent enquiry with all the directors,
major shareholders and all such other persons reasonably familiar with the
matters about which the disclosure is to be made in this respect. In the event
you deny the above sentence or any other part of the above reported article,
you are required to set forth facts sufficient to clarify any misleading
aspects of the same. In the event you confirm the above sentence or any other
part of the above reported article, you are required to set forth facts
sufficient to support the same, including the relevant bases and assumptions in
arriving at the above forecast. In this respect, you are also required to
confirm whether the accounting bases, calculations and assumptions have been
reviewed by the external auditors.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
LISA LAM
Sector Head
Issues & Listing
Group Regulations
LL/WCY
c.c. Encik Onn Ismail, Securities Commission (via fax)
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