PROPOSED ACQUISITION OF A PARCEL OF PROVISIONAL LEASEHOLD LAND OF APPROXIMATELY 27.6 HECTARES ("HA") ("LAND") TOGETHER WITH BUILDINGS THEREON ("BUILDINGS") FROM CMS STEEL BERHAD ("CMS STEEL" OR THE "VENDOR"), A SUBSIDIARY OF CAHYA MATA SARAWAK BERHAD ("CMSB") FOR A TOTAL PURCHASE CONSIDERATION OF RM32,000,000 TO BE SATISFIED BY THE ISSUANCE OF 16,000,000 NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") ("CONSIDERATION SHARES") IN KKB AT AN ISSUE PRICE OF RM2.00 PER SHARE ("PROPOSED ACQUISITION")
Contents :
1. INTRODUCTION
On behalf of the Board of Directors of KKB (“Board”), AmInvestment Bank Berhad (formerly known as AmMerchant Bank Berhad) (“AmInvestment Bank”), a member of AmInvestment Bank Group, wishes to announce that KKB had, on 7 November 2007, entered into a conditional sale and purchase agreement (“CSPA”) with CMS Steel to undertake the Proposed Acquisition.
2. THE PROPOSED ACQUISITION 2.1 Details of the Proposed Acquisition
On 30 July 2007, KKB entered into a Memorandum of Understanding (“MOU”) with CMSB, which holds 80% equity interest in CMS Steel, with the intention to acquire the Land together with the Buildings (collectively referred to as the “Property”) from CMS Steel. Subsequently, on 26 October 2007, KKB and CMSB announced that the MOU was extended for a further three (3) months until 31 January 2008.
On 7 November 2007, KKB entered into the CSPA with the vendor, CMS Steel to undertake the Proposed Acquisition. CMS Steel had, prior to the date of the CSPA, by a separate deed of settlement entered into with CMSB, agreed that the Consideration Shares shall be allotted and issued directly to CMSB.
The Consideration Shares will be listed on the Main Board of Bursa Malaysia Securities Berhad (“Bursa Securities”).
The Property shall be acquired by KKB with vacant possession and free from all encumbrances. There are no liabilities, contingent liabilities or guarantees to be assumed by KKB pursuant to the Proposed Acquisition other than the usual liabilities as the legal and beneficial owner of the Property.
2.2 Background information on the Property
The Property is described as Provisional Lease Lot 777, Block 5, Muara Tebas Land District, Kuching. It is located along Jalan Bako in the Kampung Goebilt neighbourhood, Kuching and about 25 kilometres from Kuching City Centre by road. The Property is presently accessible by Jalan Bako and alternatively, it can be reached by way of Sarawak river.
The Land is a mixed-zone land measuring approximately 27.6 Ha and is designated for industrial usage. The lease term is 60 years commencing from 21 February 1998 and expiring on 20 February 2058.
The Buildings are approximately 9 years old and encompasses a 3-storey administrative /canteen building and related ancillary buildings. Further details of the Buildings are set out in Table 1.
The Property was previously used by CMS Steel as a rolling mill but has ceased operations since March 2006 and hence the Property is presently not in use. Based on the latest audited consolidated financial statements of CMS Steel as at 31 December 2006, the net book values of the Land and Buildings were RM6,410,122 and RM13,704,455 respectively. The net book value of the Buildings of RM13,704,455 includes a rolling mill and central workshop/ rollshop/ store which have since been dismantled and removed.
2.3 Salient terms of the CSPA
2.3.1 Conditions Precedent
The sale and purchase of the Property is conditional upon, inter-alia, the following conditions precedent (“Conditions Precedent”) being fulfilled:-
(a) Satisfactory Due Diligence Report
(i) KKB having completed and being satisfied with the due diligence audit and review on the legal and commercial position of the Property to be conducted by KKB and its advisers; and
(ii) The Vendor having completed and being satisfied with the due diligence audit and review on KKB to be conducted by the Vendor and its advisers.
(b) Securities Commission’s Approval
Approval by the Securities Commission (“SC”) for purchase of the Property by way of issuance of securities pursuant to the provisions of the Capital Markets and Services Act 2007 and for the Consideration Shares to be listed on the Main Board of Bursa Securities.
(c) Resolutions, etc
(i) A resolution being passed at an Extraordinary General Meeting (“EGM”) of KKB approving the purchase of the Property and the payment by way of allotment and issuance of the Consideration Shares; and
(ii) The Vendor obtaining a resolution at an EGM of the Vendor approving the sale of the Property and the acceptance of the Consideration Shares as the purchase consideration.
(d) Bursa Securities’ Approval
Approval in principle being given by Bursa Securities for the listing of and quotation for the Consideration Shares to be issued to CMSB pursuant to the CSPA on the Main Board of Bursa Securities.
(e) Other Authorities’ Approval
Where required, the approval, consent or authorisation of any other authorities not specifically mentioned in the CSPA, including but not limited to the Director of Lands and Surveys, Ministry of International Trade and Industry (“MITI”) and the Foreign Investment Committee.
(f) Bankers’ Consents
Where required, the Vendor and CMSB shall have obtained the consents and approvals of the bankers or lenders of the Vendor and CMSB for the Proposed Acquisition and KKB shall have obtained the consents and approvals of their bankers or lenders for the issuance of the Consideration Shares.
2.3.2 Settlement of Purchase Consideration
Within a period of seven (7) business days (or such other longer date as the Vendor and KKB may agree in writing) from the date of confirmation from Messrs. Reddi & Company, Advocates that (i) the duly adjudicated and stamped transfer form of the Property together with the original copies of all necessary approvals and consents, the original land title of the Property, the requisite quit rent booklets and the original receipts of the assessment rates for the last preceding year and the current year have been delivered to them and are in their custody (ii) that they have conducted a search on the Property (such search must be conducted as soon as practicable after the Unconditional Date (being the date when the last of all the Conditions Precedent becomes fulfilled or is satisfied) and that the Property is free from all encumbrances; (iii) the requisite stamp duties, stamping fees and registration fees have been deposited with them by the Vendor; and (iv) Form L evidencing that the memorandum of transfer of the Property has been accepted by the relevant land registry for registration has been issued:-
(a) KKB shall allot and issue to the Vendor’s nominee, namely CMSB, the Consideration Shares each credited as fully paid-up in KKB; and
(b) KKB shall deliver or cause to be deposited into CMSB’s Central Depository System Account the Consideration Shares.
On the date the Consideration Shares are deposited into CMSB’s Central Depository Account, KKB shall be deemed to have fully paid and discharged its obligations to pay the purchase consideration to the Vendor.
2.4 Basis of arriving at the purchase consideration
The purchase consideration for the Property of RM32,000,000 was arrived at based on a willing buyer-willing seller basis after taking into consideration the open market value of the Property as appraised by VPC Alliance (Sarawak) Sdn Bhd (“VPC”), an independent firm of registered valuers, as set out in their valuation report dated 14 September 2007.
VPC has determined the open market value of the Property to be RM32,000,000 on 14 September 2007 using the cost method in carrying out the valuation of the Property.
2.5 Basis of determining the issue price
The issue price of RM2.00 per Consideration Share was arrived at after taking into consideration, amongst others, the following:-
(a) the five (5) days Weighted Average Market Price (“WAMP”) of KKB Shares from 31 October 2007 to 6 November 2007, being the market day immediately preceding the date of the signing of the CSPA of RM1.94 per Share;
(b) the thirty (30) days WAMP of KKB Shares from 8 October 2007 to 6 November 2007, being the market day immediately preceding the date of the signing of the CSPA of RM2.02 per Share;
(c) the audited consolidated Net Assets (“NA”) per Share of KKB of RM1.84 as at 31 December 2006;
(d) the adjusted audited consolidated NA per Share of KKB of RM1.47 as at 31 December 2006 after adjusting for the bonus issue which was completed on 12 June 2007; and
(e) the future earnings potential of KKB.
The issue price of RM2.00 per Consideration Share represents a premium of RM0.53 or 36.05% over the adjusted audited NA per Share of KKB as at 31 December 2006 of RM1.47 and a premium of RM0.06 or 3.09% over the abovementioned five (5) days WAMP of KKB’s Shares.
2.6 Background information on the Vendor
CMS Steel is principally an investment holding company whilst its subsidiary company is principally involved in the manufacture and sale of wire mesh, drawn wire and related products. CMS Steel ceased its operations in March 2006.
The authorised share capital of CMS Steel is RM200,000,000 comprising 200,000,000 Shares of which 110,000,002 Shares are issued and fully paid-up as at 30 August 2007. CMSB holds 80% of the Shares of CMS Steel whilst Amsteel Corporation Berhad holds the remaining Shares.
As at 30 August 2007, the board of directors of CMS Steel are Haji Othman bin Abdul Rani, Ian Graham Sadler and Cheng Theng How.
The original cost and date of investment by CMS Steel in the Property are set out in Table 2.
CMS Steel was incorporated in Malaysia on 14 April 1975 under the Companies Act, 1965 as a private limited company under the name of Steel Industry Sarawak Sdn Bhd. On 18 January 1997, it was converted to a public company under the name of Steel Industry Sarawak Berhad. The Company adopted its present name on 5 October 2000.
2.7 Rights and ranking of the Consideration Shares
The Consideration Shares, upon allotment and issuance, shall rank pari passu in all respects with the existing Shares in KKB except that they shall not be entitled to receive dividends declared, made or paid in relation to the profits of the Company for the financial year ending ("FYE") 31 December 2007 as well as any dividends, rights, allotments or other distributions in respect of which the entitlement date precedes the date of allotment of the new Consideration Shares.
2.8 Rationale and Benefit for the Proposed Acquisition
In line with KKB Group's corporate strategies to expand its operations and improve shareholders' values in the coming years, the Board has identified the Proposed Acquisition as an appropriate investment which will enhance the future earnings potential of the Group, as well as forming a strategic tie-up with CMSB.
The relocation of KKB's steel fabrication operation to the land will provide KKB with a larger land area from 11 acres to approximately 68 acres to carry out and expand its business activities. The larger land area coupled with new and modern facilities to be built on the Property as well as the strategic location of the Property (i.e. which has a river frontage), will enable KKB to embark on new activities such as shipbuilding and steel fabrication for the oil and gas sector, undertake larger and more complex steel fabrication structures and to potentially increase its production capacity from 10,000 Metric Tonnes (“MT”) per annum to 40,000 MT per annum under two phases to position the Group for the new projects earmarked under the 9th Malaysia Plan.
Under the first phase on the 30 acres site, the Property is expected to be operational by the middle of 2009 which will increase KKB Group's steel fabrication capacity from its present 10,000 MT to 20,000 MT per annum. The second phase will involve the clearing, filling and development of the remaining 38 acres site. When this development is expected to be completed sometime in 2010, KKB Group's total steel fabrication capacity is expected to reach 40,000 MT per annum.
The Proposed Acquisition and the ensuing strategic partnership between the KKB Group and CMSB, a leading conglomerate in Sarawak whose operations ranging from, amongst others, civil engineering, construction and infrastructure works, will facilitate the Group's participation in the growth of the engineering and steel fabrication industry in Sarawak, particularly in the shipbuilding, marine and oil & gas sector.
2.9 Risk factors
The following are the salient risk factors (which are not exhaustive) in relation to the Proposed Acquisition:-
a) Emergence of a New Major Shareholder
Upon completion of the Proposed Acquisition, CMSB will emerge as a new major shareholder of KKB, with equity interests of approximately 20% of the enlarged issued and paid-up capital of KKB. CMSB might also be appointing representative(s) to the Board.
Notwithstanding the above, Dato Kho Kak Beng and parties acting in concert with him will remain as the dominant shareholder in KKB, with equity holdings of approximately 42% in KKB post acquisition. In addition, the core business activities, operations and/or business directions of KKB and its subsidiaries ("KKB Group" or the "Group") is expected to remain the same.
The Proposed Acquisition is seen as a formation of a strategic alliance between CMSB and KKB which will facilitate the KKB Group’s participation in the growth of the engineering and steel fabrication industry in Sarawak.
(b) Potential Dilution in Earnings per Share ("EPS")
The Proposed Acquisition is not expected to have any material effect on the earnings of the KKB Group for the financial years ending 31 December 2007 and 31 December 2008 save for the immediate dilution on the EPS of the Group upon issuance of the Consideration Shares.
The Board views the dilution in EPS as temporary and is of the opinion that future contributions from the additional steel fabrication works in view of the increased production capacity, new businesses such as shipbuilding activities as well as the diversification into steel fabrication for the oil and gas sector are expected to increase KKB’s earnings. However, there can be no assurance that the anticipated benefits of the Proposed Acquisition will be realised or that the Company will be able to generate sufficient future revenue stream and profit from the Proposed Acquisition to offset the dilutive effect on the EPS.
(c) Setting up of the New Plant
Barring unforeseen circumstances, the Company anticipates the first phase of the new plant would be completed within a year after the completion of the Proposed Acquisition and to be fully operational by the middle of 2009 whilst the second phase of the new plant to be completed sometime in 2010.
The completion of the new plants on time and with costs estimation of RM10 million for the first phase is dependent on many external factors which may be beyond the control of the Board and the Group. These include obtaining approvals from various regulatory authorities on a timely basis, sourcing and securing quality construction materials in adequate amounts and at competitive prices, favourable credit terms and satisfactory performance of contractors who are contracted to complete the construction project.
The directors and management of the Group will monitor the projects schedules closely to minimise any delay in the completion of the new plants. Nevertheless, there can be no assurance that the abovementioned factors will not lead to delays in the completion of the new plants nor completion of the new plants within costs estimation, which may affect the profitability of the Group.
d) Diversification into New Activities
One of the utilisation of the Property would be for shipbuilding, marine and steel fabrication work for the oil and gas sector. At present, the demand for building of small craft or vessels is high. The continued demand for the shipbuilding activities and steel fabrication activities, to a large extent, will depend on the future outlook of the oil and gas industries, which is dependent on global sustainable oil prices.
Whilst the shipbuilding activity may be relatively new to the Group, the management and the Board of the Group are confident that with their extensive experiences, know-hows and resources (including an existing pool of qualified skill-force) in steel fabrication and their involvement in the oil and gas industries over the past many years, the Group would be able to embark on the new activities when the shipbuilding facilities are in place.
(e) Non-Completion of the Proposed Acquisition
In the event the conditions precedent in the CSPA are not met, the Proposed Acquisition will not be completed. The non-completion will result in KKB Group not being able to acquire the Property, forgo its strategic tie-up with CMSB and the non-achievement of the overall objectives and benefits of the Proposed Acquisition as disclosed in Section 2.8 of this announcement.
3. INDUSTRY OVERVIEW AND PROSPECTS
The world economy is expected to continue expanding for the fifth consecutive year in 2007, albeit at a more moderate pace, amidst high crude oil prices and uncertainties in the economy of the United States (“US”). While growth is relatively lower than the 2006 performance, it is nonetheless expected to remain strong with further expansion in economic activities, especially in the fast-growing emerging economies, notably China, India and Russia, as well as recovering Europe and Japan. Global inflation remains at manageable levels although it has edged upwards due to high crude oil prices. The more widely-shared growth in 2007 is expected to spill over into 2008, with world trade and investment projected to continue steadily expanding, and against a backdrop of relatively benign inflation. The favourable environment is expected to contribute positively to the Malaysian economy. In addition, Malaysia’s continued engagement in regional and multilateral cooperation is set to further deepen its integration with the global economy. The present activities of the Group are closely correlated to the construction, infrastructure, utilities, manufacturing and civil-engineering sectors. Accordingly, the future prospects of the Group will be closely linked to the growth of the aforesaid sectors.
Additionally, upon completion of the Proposed Acquisition, the future prospects of the Group will also be closely correlated to the oil and gas sector as it will be diversifying its activities into shipbuilding and also steel fabrication for the oil and gas sector.
(a) Outlook of the Malaysian and Global Economy
The world economy is expected to continue expanding for the fifth consecutive year in 2007, albeit at a more moderate pace, amidst high crude oil prices and uncertainties in the economy of the United States (“US”). While growth is relatively lower than the 2006 performance, it is nonetheless expected to remain strong with further expansion in economic activities, especially in the fast-growing emerging economies, notably China, India and Russia, as well as recovering Europe and Japan. Global inflation remains at manageable levels although it has edged upwards due to high crude oil prices. The more widely-shared growth in 2007 is expected to spill over into 2008, with world trade and investment projected to continue steadily expanding, and against a backdrop of relatively benign inflation. The favourable environment is expected to contribute positively to the Malaysian economy. In addition, Malaysia’s continued engagement in regional and multilateral cooperation is set to further deepen its integration with the global economy. The Malaysian economy is expected to expand strongly by 6.0% in 2007. The manufacturing sector is expected to pickup gradually and expand by 3.1%, following the anticipated recovery in global electronics demand in the second half. On the demand side, growth will be driven by resilient public and private sector expenditure, following stronger consumer sentiment, business confidence and higher Government spending. The Malaysian economy is expected to register robust growth in 2008, with real GDP expanding between 6.0% and 6.5%.
(Source: Economic Report 2007/2008)
(b) Outlook and Prospects of the Utilities Sector
Growth in the utilities sub-sector is expected to sustain at 4.6% in 2007 (2006: 5.2%). Sales of electricity grew by 4.8% in the first six months of the year, on account of increased activities in trade, industrial and household sub-sectors (January-June 2006: 3.5%). Maximum demand for electricity peaked at 13,409 megawatts (“MW”) in March 2007 (January-June 2006: 12,842 MW; June). (Source: Economic Report 2007/2008) To support economic growth, the Government will continue to ensure the sufficiency, security, reliability, quality and cost effectiveness of energy supply. Towards this end, electricity generation and transmission networks will be further developed. Rural electrification projects will also be intensified, especially in Sabah and Sarawak. In Sarawak, the SESCO Grid will be expanded to cater for additional generation capacity. New transmission lines will also be constructed to supply electricity from the Bakun project to Kemena and Balingian. By the end of the Plan period, the total length of transmission lines in Sarawak is expected to reach 1,620 circuit kilometres.
(Source: Ninth Malaysia Plan 2006-2010 (“9MP”))
(c) Outlook and Prospects of the Construction/Civil Engineering Sector
Output of the construction-related industry, continued to expand significantly by 30.8% (January-June 2006: 4.3%) due to strong growth in basic iron and steel and structural metal products. Production of both products surged by 29.5% and 62.1%, respectively, led by an upturn in construction activity following the implementation of projects under the 9MP. In addition, with the expected increase in demand from the property market, coupled with new plants coming into operation, prospects for the domestic steel industry remain favourable. This is expected to boost average plant production capacity, particularly for flat products to above 65.0%. Value added of the construction sector increased significantly by 4.4% in the first half of 2007 (January-June 2006: -1.2%), after recording a turnaround in the fourth quarter of 2006. The expansion was largely led by increased civil engineering activity, following the implementation of 9MP projects. For the whole year, the sector is envisaged to register a growth of 5.2% (2006: -0.5%).
The construction sector is poised to strengthen further with a growth of 6.3% (2007: 5.2%) on the back of ongoing infrastructure projects and newly launched infrastructure projects under 9MP, in particular the development of growth corridors. The residential sub-sector is also expected to strengthen on account of bullish consumer sentiment and increasing foreign demand due to various liberalisation measures and incentives introduced in the property market.
(Source: Economic Report 2007/2008)
(d) Outlook and Prospects of the Manufacturing Sector
The manufacturing sector is expected to grow 3.1% in 2007 (2006: 7.1%) supported by domestic oriented industries, particularly chemicals and chemical products, food and construction-related industries. During the first half of the year, softer external demand, particularly for Electrical & Electronics (“E&E”) products, textiles and apparels as well as machinery and equipment affected the overall performance of the sector, which grew 0.5% (January-June 2006: 8.8%).
(Source: Economic Report 2007/2008)
(e) Outlook and Prospects of the Oil and Gas Sector
Growth of the mining and quarrying sector is forecast to expand 3.3% in 2007 (2006: -0.4%), underpinned by higher production of crude oil and natural gas in the second half of the year. In 2007, production of crude oil is expected to increase 3.5% to 690,000 barrels per day (“bpd”) (2006: -5.2%; 666,925 bpd). In addition, the Kikeh oil fields situated off Sabah, is expected to come onstream in the third quarter of 2007. As crude oil and natural gas are depleting resources and given the high crude oil prices which is expected to remain firm in the medium term, more exploration activities especially for deep water oil and gas fields are being carried out. The increased activities of oil and gas exploration and production, have spurred demand in oil and gas related industries, including chemical industry, equipment manufacturing, steel fabrication as well as air and sea charter services. Global crude oil prices continue to increase as due to supply constraints, lack of skilled manpower as well as increasing cost of exploration and production. Daily charter rates for drilling rigs have increased by more than 200.0% while prices of steel and line pipes increased by about 40.0%. At the same time, demand particularly from China and US are strengthening. Against this backdrop, global oil prices were sustained at above USD65 per barrel (“pb”) (West Texas Intermediate) levels during the first seven months of 2007. Following stronger domestic demand from power generation and manufacturing sectors, natural gas production increased 4.4% to 1,083,103 million standard cubic feet (mscf) (January-June 2006: -4.5%; 1,037,178 mscf) during the first six months of 2007. LNG production is also expected to increase due to robust gas demand in Asia Pacific, particularly Japan, South Korea and Taiwan.
(Source: Economic Report 2007/2008)
4. EFFECTS OF THE PROPOSED ACQUISITION
4.1 Share capital
Based on the issued and paid-up share capital of KKB as at 30 August 2007, the proforma effects of the Proposed Acquisition on the share capital of KKB are set out in Table 3.
4.2 Substantial shareholders’ shareholding
Based on the substantial shareholders’ shareholding in KKB as at 30 August 2007, the resultant changes in the substantial shareholders’ shareholding of KKB are set out in Table 4.
4.3 NA and gearing
Based on the consolidated audited financial statements of KKB as at 31 December 2006, the proforma effects of the Proposed Acquisition on the NA and gearing of KKB are set out in Table 5.
4.4 Earnings
As the Proposed Acquisition is expected to be completed in the second quarter of calendar year 2008 and the construction of the new plant and facilities on the Property will only be completed by the first half of 2009, it is not expected to have any material impact on the earnings of KKB for the FYE 31 December 2007 and 2008 save for the immediate dilution in its EPS upon issuance of the Consideration Shares.
Barring any unforeseen circumstances, the Proposed Acquisition is expected to contribute positively to KKB’s future earnings commencing from FYE 2009 onwards.
4.5 Dividend
KKB has not declared/recommended/paid any dividends in respect of the FYE 31 December 2007.
The Proposed Acquisition will not have any effect on the dividends to be declared, if any, for the FYE 31 December 2007. The level of dividends to be declared in future financial years would be determined by the Board after taking into consideration the performance and cashflow position, as well as the prevailing economic conditions.
5. CONDITIONS OF THE PROPOSED ACQUISITION
The Proposed Acquisition is subject to the following approvals being obtained:-
(a) SC;
(b) Bursa Securities for the listing of and quotation for the Consideration Shares;
(c) The shareholders of KKB at the forthcoming EGM to be convened;
(d) The MITI; and
(e) Any other relevant authorities/parties, if required.
6. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the directors and/or major shareholders of KKB or persons connected to the directors and/or major shareholders of KKB have any interest, direct or indirect, in the Proposed Acquisition.
7. DIRECTORS' RECOMMENDATION
The Board, having taken into consideration all aspects of the Proposed Acquisition, is of the opinion that the Proposed Acquisition is in the best interest of the Company.
8. DEPARTURE FROM THE SECURITIES COMMISSION'S POLICIES AND GUIDELINES ON ISSUE/ OFFER OF SECURITIES ("SC GUIDELINES")
To the best knowledge of the Board, the Proposed Acquisition does not depart from the SC Guidelines.
9. ESTIMATED TIMEFRAME FOR COMPLETION OF THE PROPOSED ACQUISITION
Barring any unforeseen circumstances, the Proposed Acquisition is expected to be completed by the second quarter of calendar year 2008.
10. ADVISER
AmInvestment Bank has been appointed as the Adviser to KKB for the Proposed Acquisition.
11. SUBMISSION TO THE AUTHORITIES
The applications to the relevant authorities for the Proposed Acquisition are expected to be submitted within three (3) months from the date of this Announcement.
12. DOCUMENTS FOR INSPECTION
The CSPA and valuation report will be made available for inspection at the registered office of KKB at Lot 865, Section 66, Jalan Kilang, Bintawa Industrial Estate, 93450 Kuching, Sarawak, during normal office hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement.
This announcement is dated 7 November 2007.
Announcement Info
| Company Name |
KKB ENGINEERING BERHAD |
| Stock Name |
KKB |
| Date Announced |
7 Nov 2007 |
| Category |
General Announcement |
| Reference No |
MM-071106-60172 |
Attachments
- KKB071107__Table.doc (Size: 135,168 bytes)
