[ Archive Home ]
Mayfran| [ Archive Home ] |
| Mayfran |
(Post 1 of 258) 09/20/1999.17:23:00 |
| Author : |
Nobody seems to hav take note of this share. Technically, it has transformed strongly into a steady uptrend. Kind Doctor/Wile, care to add your comments ? Heard tgt = 90c by September. I never try to believe in penny's rumours - but the way they do it, now I believe 30% Vested interest of 3lots at 37.5c and until now still trying to watch it brk pass 60c (plus today, already tested 4x in 2 wks) Rdgs (I dun recommend, but I just wonder ???) |
| (Post 2 of 258) 09/20/1999.17:28:00 |
| Author : |
Lion, I am so happy for you. The tide is turning for you already. |
| (Post 3 of 258) 09/20/1999.20:15:00 |
| Author : |
i just noticed this last week while using the explorer option using metastock on macd weekly cutting from below and this was one of the very few that turned up. other is the st eng and ses tpt index. and the company result was a loss for the company. a case of ta against fa. fa said no and ta is yes. watching this and does not own any, to see how reliable is ta without fa. |
| (Post 4 of 258) 09/20/1999.22:15:00 |
| Author : |
Lion, good for you. I do not have much to add as I don't follow this stock. As you said, the charts are looking good. Share price has been rising within an ascending channel since August and the MACD and RSI are also on the uptrend. The volume is quite low though. Today's 616 lots done are already the highest in these two months. May be just ride on the trend and see how high it can go. Good luck. |
| (Post 5 of 258) 11/03/1999.15:00:00 |
| Author : |
Mayfran seems to be holding well post rights. The price yesterday was 61.5cts. With a 2 for 1 rights at 15cts each, the theoretical x rights price should be ( 61.5 + 15 + 15 ) / 3 = 30.5cts. This is the level at which it is trading now. But the rights also came with a 1 for 4 free warrant. This is a 3 year warrant with an exercise price of 15cts. Assuming this warrant is priced at 20cts, then those who bought Mayfran is sitting on a profit of 5cts per share. Well done to those who have taken the risk. |
| (Post 6 of 258) 11/03/1999.15:27:00 |
| Author : |
This counter is pretty illiquid because of the small free float, therefore can be easily manipulated. Hope it will run up 40+ cents when the bulls return. I have vested interest of 100 lots in this counter. Liquidated quite a bit this morning at 31.5-31c. |
| (Post 7 of 258) 12/06/1999.17:41:00 |
| Author : |
MAYFRAN INTERNATIONAL LTD LEVEL OF ACCEPTANCE FOR RENOUNCEABLE RIGHTS ISSUE OF 130; 000; 000 NEW ORDINARY SHARES OF $0.15 EACH; WITH ONE (1) FREE WARRANT FOR EVERY EIGHT (8) RIGHTS SHARES SUBSCRIBED ("RIGHTS ISSUE") The Directors of Mayfran International Ltd are pleased to announce that the level of acceptance for the Rights Issue is: Rights Accepted: 128,414,650 Excess Applied: 4,726,401 Submitted by David Tan Chao Hsiung, Director on 6/12/1999 to the SES ------------------------------------------------ Note: I have vested interest in this counter. |
| (Post 8 of 258) 12/08/1999.13:42:00 |
| Author : |
MAYFRAN INTERNATIONAL LTD The Directors of the Company are pleased to announce that as at the close of the Rights Issue on 1 December 1999, acceptances and excess applications for a total of 133,141,051 Rights Shares with Warrants, representing approximately 102.4 per cent. of the Rights Issue, were received. Details of the acceptances and excess applications for the Rights Shares with Warrants received are as follows: (a) acceptances were received for a total of 128,414,650 Rights Shares with Warrants, representing approximately 98.8 per cent. of the Rights Issue; and (b) excess applications were received for a total of 4,726,401 Rights Shares with Warrants, representing approximately 3.6 per cent. of the Rights Issue. The balance of 1,585,350 Rights Shares with Warrants not accepted by the shareholders of the Company pursuant to the Rights Issue will be allocated to satisfy excess applications for the Rights Shares with Warrants in such manner as the Directors deem fit. Where any excess application for the Rights Shares with Warrants is unsuccessful or if the number of excess Rights Shares with Warrants allotted is less than that applied for, the amount paid on application or the surplus application monies (as the case may be) will be refunded to such applicants, without interest or any share of the revenue or other benefit arising therefrom within 14 days after the close of the Rights Issue on 1 December 1999, by means of a crossed cheque sent to them by ordinary post and at their own risk (if they accept through The Central Depository (Pte) Limited or the Share Registrar) or by crediting their accounts with the relevant banks at their own risk (if they accept through the Authorised Trading Centres or Automated Teller Machines). BY ORDER OF THE BOARDYvonne ChooSecretary7 December 1999 Submitted by Koh Gek Leng, Director on 7/12/1999 to the SES |
| (Post 9 of 258) 12/08/1999.13:48:00 |
| Author : |
There are 1,585,350 Rights Shares not subscribed for, and excess applications amounted to only 4,726,401 Rights Shares. This represents a 33% chance for an excess application to obtain the excess Rights Shares. However, since the allocation is in the Directors' discretion, I will keep my fingers crossed. I have vested interest in this counter, as well as the Rights Shares. |
| (Post 10 of 258) 03/24/2000.07:28:00 |
| Author : |
Mayfran Intl FY Net S$0.5M Vs Loss S$1.3M Mayfran International Ltd. - . Six Months To Dec. 31: _____________1999____1998 Net Profit S$547,000 (S$1,328,000) Pretax Profit 785,000 (1,323,000) Revenue 9,752,000 8,010,000 Per Share Net Profit 0.39 cents (1.02 cents) Dividend 0.15 cent Omitted |
| (Post 11 of 258) 04/01/2000.10:09:00 |
| Author : |
MAYFRAN INTERNATIONAL LTD Further to the announcement of the full-year results for the period ended 31 December 1999 made on 23 March 2000, the Directors of Mayfran International Ltd ("the Company") wish to provide additional information on the performance of the Company and its principal subsidiaries for the period under review. The results covered the six months from 1 July to 31 December 1999 due to a change in the Company's financial year end from 30 June to 31 December. In the announcement of the previous full-year results for the year ended 30 June 1999, the Company had announced, inter alia, that: Regional economies had improved in early 1999 A plan had been implemented to reduce costs and increase efficiencies which included sourcing quality raw materials at more competitive prices During the period under review, the Group experienced strong sales during the year-end festive season due mainly to increased consumer purchasing capacity arising from improved regional economies. As a result, Group turnover for the six months ended 31 December 1999 increased by 21.7%, from S$8 million in the previous corresponding period to S$9.8 million. The implementation of a plan to increase productivity and to cut costs (without compromising on quality) had resulted in more effective utilisation of labour, improvement in manufacturing capacity and efficiency, and the reduction of overhead costs. These factors, together with the purchase of quality raw materials at competitive prices, led to an improvement in overall margins. As a result, the Group posted an operating profit after tax of S$547,000 for the period ended 31 December 1999, a turnaround from the loss of S$1.3 million recorded in the previous corresponding period. BY ORDER OF THE BOARD Submitted by Yvonne Choo, Company Secretary on 31/3/2000 to the SES |
| (Post 12 of 258) 09/19/2000.22:16:53 |
| Author : |
Mayfran Intl 1H Net S$1.1M Vs Loss S$174,000
Mayfran International Ltd. (P.MYF) - Singapore Six Months to June 30: - 2000 vs 1999 Net Profit - S$1,133,000 vs (S$174,000) Pretax Profit - 1,248,000 vs (641,000) Revenue - 10,763,000 vs 9,245,000 Per Share Net Profit - 0.58 cent vs (0.13 cent) Dividend - Omitted vs Omitted |
| (Post 13 of 258) 09/20/2000.00:37:02 |
| Author : |
INCREASE IN AUTHORISED AND ISSUED AND PAID-UP CAPITAL
- MAYFRAN MARKETING (M) SDN BHD The Board of Directors of Mayfran International Ltd (the "Company") wishes to announce that its subsidiary in Malaysia, Mayfran Marketing (M) Sdn Bhd ("MMSB"), has increased its authorised share capital from RM100,000 to RM1,000,000 by the creation of an additional 900,000 shares of RM1.00 each. MMSB has also increased its issued and paid up capital from RM30,000 to RM500,000 by way of an issue of 470,000 new shares of RM1.00 each fully paid, at par, to Friven (Malaysia) Sdn Bhd ("Friven") by way of the capitalisation of amounts due to Friven by MMSB. MMSB is wholly-owned by Friven, which in turn is wholly-owned by the Company BY ORDER OF THE BOARD Submitted by Henry Koh Gek Leng, Director on 19/09/2000 to the SGX |
| (Post 14 of 258) 02/28/2001.12:57:27 |
| Author : |
Guys,
Any info on MAYFRAN? Any reason for its sudden tailspin? Educate pls. Was thinking of getting some. Comments pls. |
| (Post 15 of 258) 02/28/2001.13:49:55 |
| Author : |
Chiainc,
why bother with Mayfran? company dealing with retail...not so good....not much attention showered on it...once bought, can keep for eternity...buy other counters......but pls dun ask me what to buy.... |
| (Post 16 of 258) 03/02/2001.12:41:42 |
| Author : |
good try SMALLIKAN
told me not to buy.... check out its price now!!!!! buy 2 lots only though. cheers. |
| (Post 17 of 258) 03/02/2001.12:50:35 |
| Author : |
Volume is miniscule only 10 lots. Probably friendly transaction. |
| (Post 18 of 258) 03/02/2001.14:31:28 |
| Author : |
agreed. for the fun of it. cheers |
| (Post 19 of 258) 06/07/2001.23:37:55 |
| Author : |
REQUEST FOR SUSPENSION IN TRADING OF SHARES
The Directors of Mayfran International Ltd ("the Company") would like to request a suspension in the trading of the Company's shares and warrants with effect from 8.30 am, Friday, 8 June 2001, pending the release of an announcement. Submitted by Koh Gek Leng, Director on 07/06/2001 |
| (Post 20 of 258) 06/08/2001.23:06:30 |
| Author : |
PROPOSED ACQUISITION (THE "ACQUISITION") OF JEJE CORPORATAMA PTE LTD ("JEJE") BY MAYFRAN INTERNATIONAL LTD ("MAYFRAN" OR THE "COMPANY")
INTRODUCTION The Board of Directors of Mayfran would like to announce that the Company has today entered into a call and put option agreement (the "Acquisition Agreement") with Yong Kang International Ltd as Vendor and Johnlin Yuwono ("JY") and Chu Jang Lie ("CJL") as Vendor's Shareholders. Pursuant to the Acquisition Agreement, the Company granted the Vendor a put option in respect of the proposed acquisition by the Company of the entire issued share capital of JeJe amounting to S$11.616 million comprising 11,616,000 ordinary shares of S$1.00 each ('Option Shares") and the Vendor granted the Company a call option in respect of all the Option Shares or any part thereof (the "Acquisition"). The aggregate purchase consideration for all the Option Shares is approximately S$22 million. The purchase consideration of approximately S$22 million shall be adjusted accordingly on a pro-rata basis in the event that the number of Option Shares required to be sold to the Company pursuant to an exercise of the call option does not comprise all of the Option Shares. The Board of Directors has also been informed by Gimmill Industrial (Pte) Ltd ("Gimmill"), a major shareholder of the Company, that it has today entered into a call and put option agreement (the "Option Agreement") with JY pursuant to which Gimmill granted JY a call option and JY granted Gimmill a put option in respect of 100,000,000 ordinary shares of S$0.15 each held by Gimmill in the capital of the Company ("Gimmill Shares"), representing 51.28 per cent. of the issued and paid up capital of the Company, for an aggregate purchase consideration of S$23 million or S$0.23 for each Gimmill Share. The respective right of JY and Gimmill to exercise the call and the put option under the Option Agreement respectively is unconditional and may be exercised during the period commencing on the earlier of 15 November 2001 or seven days after the completion of the Acquisition and ending at 5.00 p.m. on the date 60 days thereafter (or such later date as the parties may agree in writing). FOR THE AVOIDANCE OF DOUBTS, THE EXERCISE OF THE CALL AND/OR PUT OPTIONS PURSUANT TO THE ACQUISITION AGREEMENT IS NOT CONDITIONAL UPON THE EXERCISE OF THE CALL AND/OR PUT OPTIONS PURSUANT TO THE OPTION AGREEMENT AND VICE VERSA. ACQUISITION AGREEMENT Option Shares As at the date of this Announcement, the existing issued and paid up share capital of JeJe of S$750,000 comprises 750,000 ordinary shares of S$1.00 each. Prior to the completion of the Acquisition, the Vendor will cause a capitalisation of all outstanding loans and monies owing by JeJe to its shareholders of S$10,866,000 ("Shareholders' Loan") into fully paid up share capital comprising of 10,866,000 ordinary shares of S$1.00 each. As at completion of the Acquisition, the entire issued and paid up share capital of JeJe shall comprise the Option Shares that are legally and beneficially owned by the Vendor. Exercise Period The exercise of the call and/or put options is conditional upon the fulfillment of the conditions precedent as set out below. The call and/or put options under the Acquisition Agreement may be exercised during the period commencing on the date that the Vendor's and the Company's rights to exercise the respective option becomes unconditional upon the fulfillment of the conditions precedent as set out below) and ending at 5.00 p.m. on the date 30 days thereafter (or such later date as the parties may agree in writing) provided that if any of the conditions precedent are not fulfilled, or if capable of being waived, not waived by the Company, by 15 November 2001 or such other earlier date as specifically provided for in the Acquisition Agreement (and notwithstanding or such later date as the parties may agree in writing), the options thereunder shall lapse. Purchase Consideration The Option Shares will be acquired free from all charges, liens and encumbrances and with all rights attached thereto as at and from the date of the Acquisition Agreement. The purchase consideration for all the Option Shares of approximately S$22 million was arrived at on a willing-buyer-willing seller basis after taking into consideration, inter alia, the net tangible assets ("NTA") and earnings of the JeJe and its subsidiaries ("JeJe Group"). The consolidated NTA as at 31 December 2000 and consolidated profit after tax for the financial year ended 31 December 2000 of the JeJe Group was S$12.6 million after adjusting for the capitalisation of S$11.57 million owing to shareholders as at 31 December 2000 and S$2.4 million respectively. The purchase consideration of approximately S$22 million therefore represents a premium of 74 per cent. over the consolidated NTA of the JeJe Group as at 31 December 2000 and a historical fully diluted price earnings ratio (after adjusting for the capitalisation of S$11.57 million owing to shareholders) of 9 times based on the consolidated profit after tax of the JeJe Group for the financial year ended 31 December 2000. Each of the Vendor and the Vendor's Shareholders has jointly and severally provided a warranty to the Company that the audited consolidated profit after tax of the JeJe Group for the financial year ending 31 December 2001 shall not be less than S$4 million ("Profit Warranty"). Should there be a shortfall between the actual audited consolidated profit after tax of the JeJe Group for the financial year ending 31 December 2001 and the Profit Warranty of S$4 million, the Company will be entitled to claim from the Vendor and the Vendor's Shareholders, and the Vendor and the Vendor's Shareholders are obliged to pay to the Company, the difference between the Profit Warranty of S$4 million and the actual audited consolidated profit after tax of the JeJe Group for the financial year ending 31 December 2001. As there is a Profit Warranty, the purchase consideration of approximately S$22 million will represent a price earnings ratio of 5.5 times based on the consolidated profit after tax (taking into account the Profit Warranty) of the JeJe Group for the financial year ending 31 December 2001. The purchase consideration for all the Option Shares will be satisfied by the issue of 43,500,000 new ordinary shares of S$0.15 each ("Consideration Shares") at an issue price of S$0.23 per Consideration Share and the payment of S$11,995,000 in cash to be funded by internal resources. In the event that the number of Option Shares required to be sold to the Company pursuant to an exercise of the call option does not comprise all of the Option Shares, the number of Consideration Shares and the balance cash payment shall be adjusted accordingly on a pro-rata basis to reflect the adjusted purchase consideration. VERY SUBSTANTIAL ACQUISITION UNDER CHAPTER 1008 OF THE LISTING MANUAL Based on the audited financial statements of the JeJe Group and Mayfran group of companies ("Mayfran Group") for the financial year ended 31 December 2000, the net profits (after deducting all charges except taxation and excluding extraordinary items) attributable to JeJe Group exceed those of the Mayfran Group. As such, the Acquisition will be deemed to be a "Very Substantial Acquisition" under Clause 1008 of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). Pursuant to Clause 1008 of the Listing Manual, the Company will be required to obtain the SGX-ST and its shareholders' approval for the Acquisition. CONDITIONS PRECEDENT The exercise of the call and/or put options pursuant to the Acquisition Agreement is conditional upon, inter alia, the following:-(a) completion by 31 July 2001 of satisfactory due diligence by the Company on JeJe Group; (b) approval of the SGX-ST for the Acquisition and for the listing and quotation of the Consideration Shares pursuant to the Acquisition; (c) approval of the Shareholders for the Acquisition; (d) the delivery by the Vendor to the Purchaser, a written waiver or consent given by Tomen Corporation, on or before 30 June 2001, over the purchase of the Option Shares by the Vendor to the Company as contemplated in the Acquisition Agreement; (e) the delivery by the Vendor to the Purchaser of documentary evidence, on or before 30 June 2001, that the Shareholders' Loan has been assigned to the Vendor and the Vendor has caused the Shareholders' Loan to be capitalised as fully paid up share capital in JeJe evidenced by the issue of 10,866,000 ordinary shares of S$1.00 each in the capital of JeJe to the Vendor credited as fully paid up; and (f) all necessary consents or approvals (if any) being granted by third parties or governmental or regulatory bodies or competent authorities having jurisdiction over the sale of the Option Shares or the Acquisition. INFORMATION ON JEJE History JeJe was incorporated in the Republic of Singapore as a limited liability company with an initial paid-up capital of S$2. Incorporated on 15 January 1994 by JY, it remained dormant until 1997 when it undertook the production of perforated polyethylene films ("PPF"), the material used in the production of the top sheet in sanitary napkins, diapers and other hygiene-related products. In September 1997, the paid-up capital of JeJe was increased to S$750,000 (comprising 750,000 ordinary shares of S$1.00 each) as additional capital was injected into JeJe by the Vendor, Yong Kang International Ltd and Tomen Corporation. Yong Kang International Ltd is an investment holding company incorporated in the British Virgin Islands. Its beneficial shareholders and directors are JY and CJL. Tomen Corporation is a corporation duly organised under the laws of Japan. It is a public corporation listed on the Tokyo Stock Exchange. Business The JeJe Group comprises the following companies as at the date of this Announcement:-
The principal activities of JeJe and its subsidiaries (the "JeJe Group") are the production and sale of PPF for use in the manufacture of disposable sanitary napkins ("DSN") and panty liners. They are also engaged in the trading of related hygienic materials and equipment for the disposable napkin industry, which include adult diapers and baby-wet tissues. Revenue derived from the production and sale of PPF constituted approximately 86 per cent. of the total turnover for the last three financial years ended 31 December 2000. Over the same period, approximately 97 per cent. of the products manufactured by the JeJe Group were sold in China. Share Capital and Shareholders As at the date of this Announcement, JeJe has an authorised and issued and paid-up capital of S$1,000,000 and S$750,000 respectively. The Vendor is the registered holder of 675,000 ordinary shares of S$1.00 each in the capital of JeJe representing 90% of the entire issued and paid up capital of JeJe and Tomen Corporation is the registered holder of the balance 75,000 ordinary shares of S$1.00 each, representing the balance 10%. The Vendor and Tomen Corporation entered into a joint venture agreement dated 30 August 1997 ("JV Agreement") to govern their rights vis-à-vis each other in relation to JeJe. Joint Venture Agreement Pursuant to the JV Agreement, certain corporate actions of JeJe such as amendments to its constitutive documents, variation to its paid up and authorised share capital, dissolution of JeJe or amalgamation of JeJe with other entities, transfer of its assets or change in its business, distribution of dividend and investment in other entities are subject to the unanimous affirmative votes of all shareholders of JeJe. This is designed for minority shareholders' protection and in this case for Tomen Corporation's protection as a minority shareholder. In addition, Tomen Corporation is also entitled, inter alia, to exercise pre-emption rights over any transfer of shares in JeJe. It is entitled to have the first right to purchase any shares of JeJe which the Vendor intends to sell or transfer and Tomen Corporation's consent is required for the Vendor to sell or transfer any of its shares in JeJe. Consequently, it is a condition precedent (see below), that the Vendor has to procure Tomen Corporation's written waiver of its right to purchase the Vendor's interest in JeJe or written consent that Tomen Corporation has no objection to the sale by the Vendor of its 90% stake in JeJe to the Company. The Vendor has also represented to the Company that it is in the process of buying Tomen Corporation's 10% stake in JeJe such that these shares shall form part of the Option Shares. Upon the transfer of Tomen Corporation's 10% stake to the Vendor, the JV Agreement will cease to have effect. Directors and Management The directors of JeJe are JY and his wife CJL. The management team of the JeJe Group comprises: Mr Ong Han Sim - General Manager, JeJe, and Group Financial Controller Mr Lim Cho Lee - General Manager of JHPS and JCS Mr Koh Guan Lai - Factory Manager, JeJe Mr Kelvin Tham Wai Kun - Business Development Manager, JeJe Mr Ding Zubing - Production Manger, JHPS Mr Richard Huang - Finance Manager, JHPS Mr Liao Jun - Sales Manager, JHPS Prospects The population in PRC was reported by the 2000 Directory of Household Paper and Packaging Paper/Paperboard Industry (China) to be 1.26 billion as at the end of 1999, of which 49.02 per cent. or 617 million were female. The female population within the age group of 15 to 49, which form the potential users of the DSN, totaled 343 million in 1998. With growing affluence and as knowledge of the benefits of DSN with PPF become more widespread, preferences is expected to shift from non-woven DSN towards the use of DSN with PPF and demand for PPF is expected to increase. RATIONALE FOR THE ACQUISITION The Board recognises that the Mayfran Group will continue to operate under a competitive market environment and will continue to streamline the operations of the Mayfran Group to be cost-effective, expand its distribution channels in Asia, including China, and develop a wider range of products. The Acquisition is in line with the stated intention of the Company to seek new business opportunities to increase shareholders returns. The main activity of JeJe is the manufacture of PPF which is used in the production of DSN, panty liner and diapers. The Board is of the view that the market potential for these products is large especially in view of the growing market demand in China. FINANCIAL EFFECTS OF THE ACQUISITION Based on the assumption that either of the options under the Acquisition Agreement has been exercised in respect of all the Option Shares, the financial impact of the Acquisition on the share capital, NTA, earnings and gearing of the Group are expected to be as follows:- Share Capital As at the Latest Practicable Date, the Company has an authorised share capital of S$75,000,000 divided into 500,000,000 ordinary shares of S$0.15 each ("Shares") and an issued and paid-up share capital of S$29,250,000 divided into 195,000,000 Shares. The Acquisition will have no impact on the authorised share capital of the Company. Upon completion of the Acquisition, the Company's issued and paid-up share capital will increase to S$35,775,000, divided into 238, 500,000 Shares. NTA Based on the audited accounts of the Mayfran Group as at 31 December 2000, the NTA of the Mayfran Group and the NTA per Share are S$32.57 million and 16.7 cents respectively. Upon the completion of the Acquisition, the NTA of the Mayfran Group will be increased by approximately S$632,000 to S$33.2 million while the NTA per Share will be decreased by 2.8 cents per Share to 13.9 cents per Share. Earnings The Acquisition is expected to have a positive impact on the earnings of the Mayfran Group upon completion. In any event, the Vendor and the Vendor's Shareholders have jointly and severally provided a profit warranty to the Company that the audited consolidated profit after tax of the JeJe Group for the financial year ending 31 December 2001 shall not be less than S$4 million. Gearing Based on the audited accounts of the Group as at 31 December 2000, the borrowings of the Mayfran Group are not significant. As the Acquisition will be financed internally, the Acquisition is not expected to have an impact on the gearing of the Mayfran Group. CHANGES IN SHAREHOLDINGS On the assumption that the full 43,500,000 Consideration Shares are be issued to the Vendor at S$0.23 per Consideration Share in part satisfaction of the purchase consideration of approximately S$22 million, the effect on the shareholding structure of the Company before and after the Acquisition will be as follows:-
Note : (1) The interests of Ma Wong Ching and Ma Ong May arise from their shareholdings in Gimmill Industrial (Pte.) Ltd. as defined under Section 7 of the Companies Act (Cap 50). (2) Koh Gek Leng has a direct interest of 97,000 shares. Koh Gek Leng and Koh Leng Nguang are also deemed interested in the 30,000,000 shares held by Mayfran Holdings Pte. Ltd. by virtue of their shareholdings in Mayfran Holdings Pte. Ltd. as defined under Section 7 of the Companies Act (Cap 50). Additionally, Koh Leng Nguang's deemed interests also include 1,105,000 shares held by his wife. (3) The interest of Johnlin Yuwono arises from his shareholdings in Yong Kang International Ltd as defined under Section 7 of the Companies Act (Cap 50). (4) It is assumed that neither the call option nor the put option pursuant to the Option Agreement has been exercised. Had either options been exercised the figures as computed under "Total interests after Acquisition" would be different. (5) It is assumed that the exercise of either of the options under the Acquisition Agreement has been made in respect of all the Option Shares and 43,500,000 Consideration Shares have been issued and allotted to the Vendor. Had the exercise of the call option not been made in respect all of the Option Shares, the purchase consideration payable to the Vendor and consequently the number of Consideration Shares shall be less. (6) The percentage is computed based on the enlarged issued share capital of 238,500,000 shares. On the assumptions that the exercise of either of the options under the Acquisition Agreement has been made in respect of all the Option Shares and neither the call option nor the put option pursuant to the Option Agreement has been exercised, upon the completion of the Acquisition, the Vendor will own 18.27 per cent. of the enlarged issued share capital of the Company. The Vendor is committed to retain the Consideration Shares for a period of 12 months after the completion of the Acquisition and 50 per cent. of the Consideration Shares for an additional 12 months thereafter. GENERAL OFFER BY JY PURSUANT TO THE OPTION AGREEMENT The Directors would like to remind Shareholders that the exercise of the Call and/or Put Options pursuant to the Option Agreement is not conditional upon the exercise of the Call and/or Put Options pursuant to the Acquisition Agreement. The grant of both the call and put options pursuant to the Option Agreement is unconditional. Upon the exercise of the call option by JY or the put option by Gimmill pursuant to the Option Agreement in respect of the Gimmill Shares, JY would own, control or agree to acquire 100,000,000 shares in the Company from Gimmill representing 51.28 per cent. of the issued and paid-up share capital of the Company. The aforesaid percentage of 51.28 is arrived at based on the assumption that neither the call nor the put options pursuant to the Acquisition Agreement has been exercised and no Consideration Share has been issued to the Vendor. Had the exercise of either of the options under the Acquisition Agreement been made in respect of all the Option Shares and 43,500,000 Consideration Shares issued to the Vendor prior to the exercise of the either of the options under the Option Agreement, JY would be deemed to be in control of 60.17 per cent of the enlarged issued and paid up share capital of the Company. Accordingly, upon the exercise of the call option by JY or the put option by Gimmill pursuant to the Option Agreement, JY would be required to make unconditional offers ("Offers") under Section 213 of the Companies Act (Cap 50) and Rule 33 of the Singapore Code on Take-overs and Mergers as follows:- (a) to acquire all the remaining Shares not already owned, controlled or agreed to be acquired by JY or any parties acting in concert with JY, including any Shares arising from the valid exercise of the existing warrants ("Warrants") issued by the Company; and (b) to acquire all the remaining Warrants not already owned, controlled or agreed to be acquired by JY or any parties acting in concert with JY. The Offers will be made at S$0.23 per Share and S$0.08 per Warrant (with S$0.08 being derived from the Offer price of S$0.23 less the exercise price for the conversion of Warrants into Shares of S$0.15) or such other prices as required under the Singapore Code on Take-overs and Mergers. To assist Shareholders on a better understanding on when JY would be required to make the Offers under Section 213 of the Companies Act (Cap 50) and Rule 33 of the Singapore Code on Take-overs and Mergers, the following three scenarios are used as examples for illustration purposes and is not meant to be an exhaustive representation of all possible scenarios:- Scenario 1 Assumptions : (a) Neither the call option nor the put option pursuant to the Acquisition Agreement is exercised and, (b) either the call option or the put option pursuant to the Option Agreement is exercised by JY or Gimmill respectively in respect of the Gimmill Shares . Conclusion : The obligations under Section 213 of the Companies Act (Cap 50) and Rule 33 of the Singapore Code on Take-overs and Mergers are triggered as JY or any parties acting in concert with JY would own, control or agree to acquire 100,000,000 shares in the Company from Gimmill representing 51.28 per cent. of the issued and paid-up share capital of the Company and accordingly JY or any parties acting in concert with JY shall be required to make the Offers. Scenario 2 Assumptions : (a) Either the call option or the put option pursuant to the Acquisition Agreement is exercised in respect of all the Option Shares and the Consideration Shares are issued and allotted to the Vendor and following that (b) either the call option or the put option pursuant to the Option Agreement is exercised by JY or Gimmill respectively in respect of the Gimmill Shares. Conclusion : The obligations under Section 213 of the Companies Act (Cap 50) and Rule 33 of the Singapore Code on Take-overs and Mergers are triggered as JY or any parties acting in concert with JY would control or be deemed to be in control of 143,500,000 shares in the Company (arising as a result of the 100,000,000 Gimmill Shares and 43,500,000 Consideration Shares) representing 60.17 per cent. of the enlarged issued and paid-up share capital of the Company and JY or any parties acting in concert with JY shall be required to make the Offers. Scenario 3 Assumptions : Either the call option or the put option pursuant to the Acquisition Agreement is exercised in respect of all the Option Shares and following that (b) neither the call option nor the put option pursuant to the Option Agreement is exercised by JY or Gimmill respectively in respect of the Gimmill Shares. Conclusion : The obligations under Section 213 of the Companies Act (Cap 50) and Rule 33 of the Singapore Code on Take-overs and Mergers are NOT triggered as JY or any parties acting in concert with JY would control or deemed to be in control of 43,500,000 shares in the Company representing 18.27 per cent. of the enlarged issued and paid-up share capital of the Company. Accordingly JY or any parties acting in concert with JY shall NOT be required to make the Offers. The above example is meant only to serve as an illustration to facilitate Shareholders' understanding of these two separate transactions. CAUTION: Notwithstanding that the grant of both the call and put options pursuant to the Option Agreement is unconditional, the Offers will not be required to be made unless one of the options is exercised by Gimmill or JY as the case may be. Accordingly, shareholders of Mayfran and investors generally should exercise caution when buying, selling or dealing with Mayfran shares. INTERESTS OF DIRECTORS AND SUBSTANTIAL SHAREHOLDERS IN THE ACQUSITION Save as disclosed, none of the Directors nor substantial shareholders of the Company have any interests or are deemed to be interested in the Acquisition. FINANCIAL ADVISER UOB Asia Limited has been appointed by the Company in relation to the Acquisition. DIRECTORS RESPONSIBILITY STATEMENT The Directors collectively and individually accept full responsibility for the accuracy of the information given in this Announcement, and confirm, after making all reasonable enquiries, that to the best of their knowledge and belief, the facts stated and opinions expressed in this Announcement are fair and accurate in all material aspects as at the date hereof, and that there are no material facts the omission of which would make this Announcement misleading. Submitted by Yvonne Choo, Company Secretary on 08/06/2001 |
| (Post 21 of 258) 06/11/2001.11:20:51 |
| Author : |
listed 6 years...owner change 3 times...but...anything that absorbs bleeding?...on sgx...cant be bad?  |
| (Post 22 of 258) 06/11/2001.22:13:42 |
| Author : |
I don't understand what you mean?? Is it good to invest?? |
| (Post 23 of 258) 08/25/2001.16:57:13 |
| Author : |
Very strange! 
The wife of director Koh Leng Nguang had from 3 Jan till 14 Mar 2001 sold a total of 410,000 shares in Mayfran at prices ranging from 27 to 31.5c...Strange because it only got reported on 22 Aug 2001! How can? Sell many moons ago, and then just report now? Has it have anything to do with the takeover proposal at 23c? Does anyone know if that offer has lapsed? No word abt it at all! 
|
| (Post 24 of 258) 09/25/2001.20:18:44 |
| Author : |
PROPOSED ACQUISITION (THE "PROPOSED ACQUISITION") OF THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF JEJE CORPORATAMA PTE LTD ("JEJE") BY MAYFRAN INTERNATIONAL LTD ("MAYFRAN" OR THE "COMPANY")
Further to the Company's announcement on 8 June 2001, the Board of Directors of the Company is pleased to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has today granted approval in-principle for the Company's application for the listing and quotation of the 43,500,000 new ordinary shares of S$0.15 each in the capital of the Company to be issued pursuant to the Proposed Acquisition, subject to Shareholders' approval of the Proposed Acquisition. Approval-in principle by the SGX-ST is not to be taken as an indication of the merits of the Consideration Shares and the Proposed Acquisition. The Proposed Acquisition is subject to Shareholders approval pursuant to Clause 1007 of the Listing Manual of the SGX-ST. An Extraordinary General Meeting will be convened to seek Shareholders' approval for the Proposed Acquisition and a Circular to Shareholders in relation thereto will be despatched to Shareholders in due course. Submitted by Yvonne Choo, Company Secretary on 25/9/2001 |
| (Post 25 of 258) 10/23/2001.08:43:56 |
| Author : |
MAYFRAN INTERNATIONAL LTD
NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Mayfran International Ltd (the "Company") will be held at 2 Tuas Avenue 10, Singapore 639126 on 7 November 2001 at 4 p.m. for the purpose of considering and, if thought fit, passing with or without any modification the following ordinary resolutions: ORDINARY RESOLUTION 1 That pursuant to Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "Listing Manual"), approval be and is hereby given for the acquisition by the Company (the "Acquisition") of all or part of the issued and paid-up capital of Jeje Corporatama Pte Ltd (the "Acquisition Shares") from Yong Kang International Ltd ("Yong Kang") for an aggregate purchase consideration of $22 million (the "Purchase Consideration") for all the Acquisition Shares and on the terms and conditions of the conditional Put and Call Option Agreement dated 8 June 2001 (the "Acquisition Agreement") entered into between (1) the Company; (2) Yong Kang; and (3) Mr Johnlin Yuwono and Mdm Chu Jang Lie (shareholders of Yong Kang). ORDINARY RESOLUTION 2 That the Directors of the Company be and are hereby authorised to allot and issue up to 43,500,000 new ordinary shares of $0.15 each in the capital of the Company (the "Consideration Shares") to Yong Kang in satisfaction of part of the Purchase Consideration, with the balance $11,995,000 of the Purchase Consideration to be paid for in cash (the "Cash Payment"); it being noted that the Purchase Consideration is subject to adjustment on a pro rata basis if the Company purchases only part but not all of the Acquisition Shares pursuant to the exercise of the call option under the Acquisition Agreement and the number of Consideration Shares and the amount of Cash Payment shall be adjusted on a pro rata basis. ORDINARY RESOLUTION 3 That the Directors be and are hereby authorised to do any and all such acts and things as they may, in their absolute discretion, deem fit, expedient or necessary to give effect to the Acquisition and/or the Acquisition Agreement. BY ORDER OF THE BOARD Yvonne Choo Company Secretary 22 October 2001 Singapore Notes : (1) A member of the Company entitled to attend and vote at the Extraordinary General Meeting is entitled to appoint a proxy or proxies (not more than two) to attend and vote on his stead. A member of the Company which is a corporation is entitled to appoint its authorised representative or proxy to vote on its behalf. A proxy need not be a member of the Company. (2) The Proxy Form must be deposited at the registered office of the Company at 2 Tuas Avenue 10, Singapore 639126 not less than 48 hours before the time fixed for holding the Extraordinary General Meeting in order to be entitled to attend and to vote at the Extraordinary General Meeting. (3) A Depositor's name must appear on the Depository Register maintained by CDP as at 48 hours before the time fixed for holding the Extraordinary General Meeting in order to be entitled to attend and vote at the Extraordinary General Meeting. Submitted by Yvonne Choo, Company Secretary on 22/10/2001 to the SGX |
| (Post 26 of 258) 11/07/2001.09:10:33 |
| Author : |
MAYFRAN INTERNATIONAL LTD
MAYFRAN ENTERS INTO LICENCE AGREEMENTS WITH PARFUMS ROCHAS, S.A. AND KN, LTD The Board of Directors of Mayfran International Ltd ("the Company") is pleased to announce that the Company has just entered into a Licence Agreement with Parfums Rochas, S.A. and two Trademark Licence Agreements with KN, Ltd. PARFUMS ROCHAS S.A. ("ROCHAS") ROCHAS is a French company that distributes perfumery products, prestigious and luxurious fashion and ready-to-wear apparels, jewellery and watches, etc under different trademarks, some of which include "Parfums Rochas" and "Rochas Paris". Under the Licence Agreement, the Company is granted the exclusive license rights to manufacture and distribute men's casual wear items, casual pants for men and ties ("the Rochas Products") under the trademark name "Rochas Paris" in Singapore and Malaysia ("the Territories"). The Company will also have the right to import men's ready-to-wear items manufactured by ROCHAS' European licensees for sale exclusively in the Territories. The agreement takes effect from 1 June 2001 and shall terminate on 31 December 2004. KN, LTD ("KN") KN is a California corporation that distributes its products under the trademark name "Karen Neuburger" and other related trademarks and designs. Under the two Trademark Licence Agreements, the Company is granted exclusive non-transferable licenses to manufacture, distribute and sell bedding, bathroom and kitchen textiles, and also sleepwear, underwear, lingerie, hosiery and socks ("the Lingerie and Hosiery Products") under the trademark name "Karen Neuberger" and the Karen Neuburger-related logo designs and derivative trademarks such "KN" or the "KN Logo" designs, in Singapore, Malaysia, Hong Kong, the People's Republic of China ("PRC"), Thailand, Australia, Japan, Korea and Taiwan. The two agreements shall commence on 1 November 2001 and terminate on 30 June 2007. The Company shall have the option to renew both agreements for a single additional period of five (5) years (i.e. up to 30 June 2012). RATIONALE The Group is constantly developing and expanding its new product ranges to cater for the varied lifestyles and expectations of its consumers. The Rochas Products and the Lingerie and Hosiery Products are new product ranges that will complement the Group's existing products such as bedlinens, pillows, cushions, bolsters, household textiles and related products. These new product ranges, under the well-known trademark names of "Rochas" and "Karen Neuburger", will enable the Group to move into consumer lifestyle products and to penetrate into new markets such as Thailand, Australia, Japan and Korea. With the Group's established distribution network and its experienced key management team, the new product ranges can be introduced into the Group's core business with minimal start-up costs. FINANCIAL IMPACT The new product ranges are expected to contribute positively to the Group's performance from 2003 onwards. FUTURE PLANS In line with its efforts to increase operational efficiency and to reduce operating costs, the Group plans to utilise the cheaper resources available in the PRC to carry out its manufacturing and distribution functions in the region. BY ORDER OF THE BOARD Submitted by Yvonne Choo, Company Secretary on 6/11/2001 to the SGX |
| (Post 27 of 258) 11/12/2001.17:29:59 |
| Author : |
COMPLETION OF THE ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL OF JEJE CORPORATAMA PTE LTD
On 8 June 2001, Mayfran International Ltd (the "Company") announced that it had entered into a conditional call and put option agreement dated the same day with Yong Kang International Ltd ("Yong Kang"), Johnlin Yuwono and Chu Jang Lie (the "Acquisition Agremeent"). The Acquisition Agreement provided, inter alia, that a call option be granted by Yong Kang to the Company whereby the Company has the right, upon exercise, to purchase from Yong Kang the entire issued and paid-up share capital of Jeje Corporatama Pte Ltd comprising 11,616,000 ordinary shares of S$1.00 each (the "Acquisition Shares") or any part thereof (the "Proposed Acquisition"). The purchase consideration for all the Acquisition Shares is S$22 million (the "Purchase Consideration") and will be satisfied by: 1) the allotment and issue of 43,500,000 new ordinary shares of S$0.15 each in the capital of the Company to Yong Kang (the "Consideration Shares"); and 2) the payment of S$11,995,000 in cash to be funded by internal resources of the Company On 25 September 2001, the Company further announced that the Singapore Exchange Securities Trading Limited ("SGX-ST") had granted approval-in-principle for the Company's application for the listing and quotation of the Consideration Shares, subject to shareholders' approval of the Proposed Acquisition. Approval-in principle by the SGX-ST is not to be taken as an indication of the merits of the Consideration Shares and the Proposed Acquisition. Subsequently, on 7 November 2001, the Company announced that the shareholders of the Company had approved all the resolutions proposed at the Extraordinary General Meeting held on the same day, namely, the Proposed Acquisition on the terms and conditions of the Acquisition Agreement and the allotment and issue of the Consideration Shares to Yong Kang as part payment of the Purchase Consideration. The Directors are pleased to announce that the Company had exercised the call option to purchase all the Acquisition Shares from Yong Kang and has completed such acquisition of all the Acquisition Shares from Yong Kang on 12 November 2001. The Purchase Consideration has been satisfied by the allotment and issue of the Consideration Shares to Yong Kang together with a cash payment of S$11,995,000. Following the acquisition, Jeje Corporatama Pte Ltd is now a wholly-owned subsidiary of the Company. By Order of the Board Mayfran International Limited Submitted by Koh Gek Leng, Director on 12/11/2001 to the SGX |
| (Post 28 of 258) 11/16/2001.17:18:53 |
| Author : |
MAYFRAN INTERNATIONAL LTD
UNCONDITIONAL CASH OFFERS BY YONG KANG INTERNATIONAL LTD FOR MAYFRAN INTERNATIONAL LTD The Board of Directors of Mayfran International Ltd (the "Company" or "Mayfran") wishes to announce that the Company had been informed by Gimmill Industrial (Pte.) Ltd ("Gimmill") that it had on 15 November 2001 exercised the put option granted to it by Johnlin Yuwono under the Option Agreement dated 8 June 2001 made between them, in respect of the sale by Gimmill of its 100,000,000 ordinary shares of $0.15 each in the capital of the Company to Johnlin Yuwono (the "Option Shares"). Pursuant to (a) the exercise of the said put option by Gimmill; (b) the nomination of Yong Kang International Ltd ("Yong Kang" or the "Offeror") as transferee in respect of the Option Shares by Johnlin Yuwono; and (c) the completion of the transfer of the Option Shares, Yong Kang has an aggregate interest of approximately 60.2 per cent. of the issued and paid up capital of the Company as at 15 November 2001. Further, the Board of Directors of the Company wishes to inform Shareholders of the Company ("Shareholders") that Yong Kang had announced on 16 November 2001 that it intends to make unconditional cash offers (the "Offers"), in accordance with the Singapore Code on Take-overs and Mergers, 1985 (the "Code") and Section 213 of the Companies Act, Chapter 50 of Singapore (the "Act") for:- (a) all ordinary shares of S$0.15 each ("Shares") in the issued and paid-up share capital of Mayfran other than those already owned, controlled or agreed to be acquired by the Offeror and parties acting or deemed to be acting in concert with it in connection with the Offers; and (b) all the warrants issued by Mayfran entitling holders thereof to subscribe for new Shares at an exercise price of S$0.15 for each new Share at any time on or before 7 December 2002 (the "Warrants'') other than those already owned, controlled or agreed to be acquired by the Offeror and parties acting or deemed to be acting in concert with it in connection with the Offers. The terms of the Offers are as follows:- (a) an unconditional cash offer (the "Share Offer") for all the issued Shares not already owned, controlled or agreed to be acquired by the Offeror and parties acting or deemed to be acting in concert with the Offeror in connection with the Offers as at the date of the Share Offer (the "Offer Shares") on the following basis:- For each Offer Share: S$0.23 in cash (the "Offer Share Price"); (b) an unconditional cash offer (the "Warrant Offer") for all the outstanding Warrants not already owned, controlled or agreed to be acquired by the Offeror and parties acting or deemed to be acting in concert with the Offeror in connection with the Offers as at the date of the Warrant Offer (the "Offer Warrants") on the following basis:- For each Offer Warrant: S$0.08 in cash (the "Offer Warrant Price"); and otherwise on the terms and conditions set out in the Offeror's announcement dated 16 November 2001. The Share Offer will be extended, on the same terms and conditions, to:- (a) all the issued Shares other than those already owned, controlled or agreed to be acquired by the Offeror and parties acting or deemed to be acting in concert with the Offeror in connection with the Offers; and (b) all new Shares issued or to be issued pursuant to the valid exercise prior to the close of the Share Offer of any Warrants thereof to subscribe for new Shares. Shareholders should note that in the announcement issued by the Offeror on 16 November 2001, it was stated that Mayfran Holdings Pte Ltd, a substantial shareholder of Mayfran, which owns 30,000,000 Shares representing approximately 12.6 per cent. of the issued and paid-up share capital of Mayfran and 2,500,000 Warrants representing approximately 15.4 per cent. of the outstanding Warrants of Mayfran, as at 16 November 2001, has given an irrevocable letter of undertaking dated 16 November 2001 to the Offeror that it will not be accepting the Offers in respect of all the Shares and Warrants held by it and will not exercise any of the Warrants held by it up to the close of the Offers. Mayfran Holdings Pte Ltd is a company owned by Koh Gek Leng (70%) and Koh Leng Nguang (30%), both directors of the Company. The Company had also on 16 November 2001 received from Yong Kang a Notice of Take-over Offer dated 16 November 2001 and a Statement in compliance with Part B of the Tenth Schedule to the Companies Act, Chapter 50, in respect of the Offers. The Board of Directors of the Company will be appointing a financial adviser to the independent directors of the Company in connection with the Offers. A circular to Shareholders containing the advice of the financial adviser and the recommendations of the independent directors of the Company on the Offers will be despatched to Shareholders within fourteen (14) days after the date of despatch of the offer document to be issued by the Offeror. In the meantime, Shareholders are advised to refrain from taking any action in relation to their Shares and Warrants which may be prejudicial to their interests. The Directors of the Company (including those who have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated in this Announcement are fair and accurate and that no material facts have been omitted and they jointly and severally accept responsibility accordingly. For and on behalf of the Board Submitted by Yvonne Choo, Company Secretary on 16/11/2001 to the SGX |
| (Post 29 of 258) 11/19/2001.12:22:30 |
| Author : |
Takeover of Mayfran at 37X historical PE highlights the potential of competitor Aussino. Aussino has a current PE of 10X, dropping to about 7.5X with forecasted results. ROE also higher at 30% as compared to 3.7% for Mayfran. OCBC Securities has a outperform rating with a fair value at S$0.55, even without a draw of a takover. |
| (Post 30 of 258) 11/19/2001.23:29:12 |
| Author : |
Any time period? |
| (Post 31 of 258) 12/04/2001.09:00:14 |
| Author : |
MAYFRAN INTERNATIONAL LTD
SALE OF PROPERTIES BY FRIVEN (MALAYSIA) SDN BHD, A MALAYSIAN SUBSIDIARY The Board of Directors of Mayfran International Ltd (the "Company") wishes to announce that one of the Group's subsidiaries in Malaysia, Friven (Malaysia) Sdn Bhd ("Friven"), has just entered into two Sale and Purchase Agreements with Magnacom Colour Scan Sdn Bhd (the first party) and Messrs Thon Teng Soon and Wong Po Yuh (the second party) to sell two of its properties for a consideration of RM2,620,000 and RM1,680,000 respectively (total consideration: RM4,300,000) (approximately SGD2,074,184) (the "Sale"). The two properties are situated in Gateway 2020 Industrial Park, Phase 5, Taman Shamelin Perkasa, Cheras, Kuala Lumpur (the "Properties"). The Properties are on 99 years leasehold that will expire on 11 September 2082. The land area of each property measures approximately 11,958.8 square feet and 12,154 square feet respectively. Both properties have a 3½-storey semi-detached factory erected thereon with a built-up area of approximately 9,648 square feet. The consideration for the Sale was arrived at through negotiations on a willing-buyer-willing-seller basis taking into account the net book value of RM3,001,751 of the Properties as at 31 October 2001 (open market value: RM5,050,000 by an independent valuer on 30 March 2001). The Sale will result in a net book gain of RM1,298,249 (approximately SGD626,234) for Friven. The two sale transactions are inter-dependent upon the successful completion of sale with each party, and upon the receipt of approval from the relevant authorities in Malaysia. The completion date will be four (4) months from the date of the receipt of such approval (the "Completion Date") and may be extended for a further one (1) month (the "Extended Completion Date"). As at this date hereof, Friven has received a total of RM430,000, being 10% of the total sale proceeds. The balance will be payable on the Completion Date/or the Extended Completion Date. Friven will utilise the sale proceeds to repay outstanding amounts due to the Company. The Sale represents part of the Group's continual efforts to progressively divest its non-core assets and to maximise the Group's resources. The Sale is expected to be completed next year and therefore, the Company does not expect the Sale to have any financial impact on the Net Tangible Assets (NTA) and the Earnings Per Share (EPS) of the Company and the Group in the current financial year. However, upon completion of the Sale, the Company expects a positive contribution to the NTA and EPS for the financial year ending 31 December 2002. None of the Directors or the Substantial Shareholders of the Company has any interest, direct or indirect, in the Sale. The Directors of the Company (including those who have delegated detailed supervision of this announcement) have taken all reasonable care to ensure that the facts stated in this announcement are fair and accurate and that no material facts have been omitted and they jointly and severally accept responsibility accordingly. BY ORDER OF THE BOARD Submitted by Yvonne Choo, Company Secretary on 03/12/2001 to the SGX |
| (Post 32 of 258) 12/26/2001.17:18:05 |
| Author : |
MAYFRAN INTERNATIONAL LTD
UNCONDITIONAL CASH OFFERS ("OFFERS") BY YONG KANG INTERNATIONAL LTD FOR MAYFRAN INTERNATIONAL LTD The Board of Directors of Mayfran International Ltd ("Mayfran" or the "Company") wish to announce that it has today despatched to the shareholders and warrantholders of the Company a circular dated 24 December 2001 (the "Circular") in relation to the Offers. The Circular contains, inter alia, the advice of The Development Bank of Singapore Ltd, the financial adviser to the Directors of Mayfran, on the Offers and the recommendation of the Directors of Mayfran on the Offers. The Circular also contains the statement issued by Mayfran in compliance with Part C of the Tenth Schedule to the Companies Act, Chapter 50 of Singapore. Shareholders and warrantholders who have not received the Circular may obtain a copy of it from the Share Registrar of the Company at the following address:- Lim Associates (Pte) Ltd 10 Collyer Quay #19-08 Ocean Building Singapore 049315 A soft copy of the Circular is available on the website of the Singapore Exchange Securities Trading Limited at www.sgx.com. Shareholders and warrantholders should note that the Offeror has given notice that the Offers will close at 3.30 p.m. on 4 January 2002 and will not be open for acceptance beyond 3.30 p.m. on 4 January 2002. Any acceptances received after 3.30 p.m. on 4 January 2002 will be rejected. The Directors of the Company (including those who have delegated detailed supervision of this announcement) have taken all reasonable care to ensure that the facts stated in this announcement are fair and accurate and that no material facts have been omitted from this announcement, and they jointly and severally accept responsibility accordingly. By Order of the Board Koh Leng Nguang Director 26 December 2001 Submitted by Koh Leng Nguang, Director on 26/12/2001 to the SGX |
| (Post 33 of 258) 12/31/2001.12:42:16 |
| Author : |
MAYFRAN INTERNATIONAL LTD
RESIGNATION OF DIRECTORS The Board of Directors of Mayfran International Ltd wishes to announce that Mr Ma Ong Kee and Mr Ma Ko In @ Ko In have resigned as Directors of the Company with effect from 29 December 2001. The consent of the Securities Industry Council has been obtained for their respective resignations as Directors of the Company pursuant to Rule 13(3) of the Singapore Code on Take-overs and Mergers. The Board would like to take this opportunity to thank Mr Ma Ong Kee and Mr Ma Ko In @ Ko In for their contributions and services to the Company. BY ORDER OF THE BOARD Submitted by Koh Leng Nguang, Director on 31/12/2001 to the SGX |
| (Post 34 of 258) 01/03/2002.11:14:29 |
| Author : |
MAYFRAN INTERNATIONAL LTD
REQUEST FOR SUSPENSION IN TRADING OF SHARES 3 January 2002 The Listings Manager Singapore Exchange Securities Trading Limited 2 Shenton Way #19-00 SGX Centre 1 Singapore 068804 Attention: Ms Darrell Lam Dear Sir REQUEST FOR SUSPENSION IN TRADING OF SHARES The Directors of Mayfran International Ltd ("the Company") would like to request a suspension in the trading of the Company's shares and warrants with immediate effect pending the release of an announcement. Yours faithfully for and on behalf of Mayfran International Ltd Koh Leng Nguang Director Submitted by Koh Leng Nguang, Director on 03/01/2002 to the SGX |
| (Post 35 of 258) 01/04/2002.09:12:28 |
| Author : |
MAYFRAN INTERNATIONAL LTD
ANNOUNCEMENT PURSUANT TO CLAUSE 926 OF THE SGX-ST LISTING MANUAL The Board of Directors of Mayfran International Ltd (the "Company") wishes to refer shareholders and warrantholders of the Company to the announcement made by Yong Kang International Ltd ("Yong Kang") earlier today. Pursuant to Clause 926 of the SGX-ST Listing Manual and by reference to the announcement by Yong Kang, the Directors wish to inform shareholders and warrantholders of the Company that the percentage of shares in the Company (the "Shares") and outstanding warrants issued by the Company (the "Warrants") held by the public (for the purpose of Clause 926) has fallen below 10% of the total number of issued and paid-up Shares and of the total number of outstanding Warrants respectively and that the Company had requested for a suspension of trading of the Shares and the Warrants. The issue of this announcement has been approved by all the Directors of the Company (including those who have delegated detailed supervision of this announcement) who have taken all reasonable care to ensure that the facts stated and opinions expressed in this announcement are fair and accurate and that no material facts have been omitted herein. The Directors of the Company (including those who have delegated detailed supervision of this announcement) jointly and severally accept responsibility accordingly. Where information has been extracted from published or otherwise publicly available sources (including, without limitation, the announcement by Yong Kang), the sole responsibility of the Directors for such information has been to ensure that it has been accurately taken from these sources. BY ORDER OF THE BOARD Submitted by Koh Leng Nguang, Director on 03/01/2002 to the SGX |
| (Post 36 of 258) 01/15/2002.09:07:55 |
| Author : |
MAYFRAN INTERNATIONAL LTD
APPOINTMENT OF EXECUTIVE DIRECTOR The Board of Directors of Mayfran International Ltd ("the Company") wishes to announce the appointment of Mr Johnlin Yuwono as an Executive Director of the Company with effect from 14 January 2002. BY ORDER OF THE BOARD Submitted by Koh Leng Nguang, Director on 14/01/2002 to the SGX |
| (Post 37 of 258) 01/15/2002.09:08:13 |
| Author : |
MAYFRAN INTERNATIONAL LTD
Announcement Of Appointment Of Executive Director Date of appointment: 14 Jan 2002 Name: JOHNLIN YUWONO Age: 54 Country of principal residence: INDONESIA Whether appointment is executive, and if so, the area of responsibility: Executive. Responsible for the strategic direction of the Company. Working experience and occupation(s) during the past 10 years: Mr. Johnlin Yuwono is the group chairman of JJC (Singapore). Over the last 25 years, Mr. Yuwono sat on the board of directors of several companies, which are in various industries of manufacturing, real estate, banking and other financial services. He is also the President and Managing Director of the Yuwono group of companies, a conglomerate with business interests in ASEAN, the PRC, Hong Kong, Taiwan and USA. As President of the Yuwono group, Mr. Yuwono is responsible for the overall management and business development of the JeJe Group. Mr. Yuwono holds a Bachelor Science degree in Aeronautical Engineering from the State University of California, USA. Other directorships Past: Exclusiv Fragrance Pte Ltd Group Sense Yuwono Pte Ltd Hong Lai Huat Pte Ltd Ocean Pacific Investment Pte Ltd PT Alfa Bank PT Haniwell Murni Company PT Petindo Jaya Sakti PT SSE Van Der Horst Indonesia PT Van Der Horst Tbk Santa Holiday Pte Ltd Yong Xiang Entertainment Dev. Co. Ltd Yuwono Brothers Pte Ltd Present: Dalian Van Der Horst Marine Eng. Co Ltd Fatt Lee Properties Pte Ltd Hangzhou Yuhong Precision Machinery Co. Ltd JeJe Corporation (Malaysia) Sdn Bhd JeJe Corporatama (Suzhou) Co. Ltd JeJe Hygienic Products (Suzhou) Co. Ltd JeJe Trading (Malaysia) Sdn. Bhd (Dormant) Jointekco International Corp. Kestrel Properties Pte Ltd Nantong Yong Yi Building and Decoration Eng. Co. Ltd PT Central Star Knitting PT Indonesia Pet Bottle PT JAIC Indonesia PT Malak International Textile PT Muler Pasific Labelindo PT Petnesia Resindo PT Sri Yuwono Van Der Horst Ltd Wavecom Development Ltd Yong Kang International Ltd Yong Ye International Pte Ltd Yuwono Investment Co. Ltd Shareholding in the listed issuer and its subsidiaries: Deemed interest by virtue of shareholding in Yong Kang International Ltd (76.85% of Mayfran shares and 74.41% of Mayfran warrant) Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None Conflict of interest: None Declaration by a Director, Executive Officer or Controlling Shareholder as Required ( Per Appendix 15) - 1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ? No 1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner? No 1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ? No 2. Are there any unsatisfied judgements outstanding against you ? No 3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ? No 4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ? No 5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ? No 6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? No 7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company? No 8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ? No 9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership? No Submitted by Koh Leng Nguang, Director on 14/01/2002 to the SGX |
| (Post 38 of 258) 01/21/2002.17:12:14 |
| Author : |
MAYFRAN INTERNATIONAL LTD
AGREEMENT BY A SUBSTANTIAL SHAREHOLDER, YONG KANG INTERNATIONAL LTD, TO SELL 35, 000, 000 SHARES The Board of Directors of Mayfran International Ltd ("the Company") wishes to announce that Yong Kang International Ltd ("Yong Kang"), a substantial shareholder of the Company, has informed the Company that it has today reached an agreement with Japan Asia Investment Co., Ltd ("JAI") for Yong Kang to sell and JAI to purchase 35,000,000 ordinary shares of S$0.15 each held by Yong Kang in capital of the Company ("the Shares") at a consideration of S$0.25 for each Share. Completion of the sale and purchase of the Shares shall take place on such date to be mutually agreed between Yong Kang and JAI. Subsequent to the completion of the sale and purchase of the Shares, Yong Kang's interest in the Company will be reduced from 76.85% to 62.2% and JAI will hold an approximate interest of 14.7% in the issued and paid-up capital of the Company. Mr Johnlin Yuwono, a Director of both Yong Kang and the Company, is deemed to have an interest in Yong Kang's shareholdings in the Company by virtue of his 50% shareholdings in Yong Kong, and also the 50% shareholdings held by his wife, Madam Chu Jang Lie, in Yong Kang. Save as disclosed above, none of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the sale and purchase of the Shares. BY ORDER OF THE BOARD Koh Gek Leng Director Submitted by Koh Gek Leng, Director on 21/01/2002 to the SGX |
| (Post 39 of 258) 01/23/2002.08:45:44 |
| Author : |
MAYFRAN INTERNATIONAL LTD
PLANS TO SET UP A NEW BUSINESS DEVELOPMENT/INVESTMENT UNIT Further to the Company's announcement dated 21 January 2002 in relation to the sale (the "Sale and Purchase") by Yong Kang International Ltd. ("Yong Kang") of part of its shareholdings in Mayfran International Ltd (the "Company") to Japan Asia Investment Co., Ltd ("JAIC"), the Board of Directors of the Company wishes to announce that upon the completion of the Sale and Purchase, the Company intends to set up a new business development/investment unit to invest in companies in the Asian region. As announced on 21 January 2002, completion of the Sale and Purchase shall take place on such date to be mutually agreed between Yong Kang and JAIC. JAIC has had over 10 years of experience investing in companies in Asia and the Company intends to tap on JAIC's experience in the region to develop the proposed business development/investment unit of the Company. The Company will make a further announcement following the setting up of this new business development/investment unit. BY ORDER OF THE BOARD Koh Leng Nguang Director Submitted by Koh Leng Nguang, Director on 22/01/2002 to the SGX |
| (Post 40 of 258) 02/06/2002.09:14:34 |
| Author : |
MAYFRAN INTERNATIONAL LTD
RESIGNATION AND APPOINTMENT OF CHAIRMAN The Board of Directors of Mayfran International Ltd (the "Company") wishes to announce the appointment of Mr Johnlin Yuwono in place of Mr Koh Gek Leng as Chairman of the Company with effect from 5 February 2002. Mr Koh Gek Leng remains as an executive director of the Company. BY ORDER OF THE BOARD Submitted by Koh Leng Nguang, Director on 05/02/2002 to the SGX |
| (Post 41 of 258) 02/06/2002.09:14:57 |
| Author : |
MAYFRAN INTERNATIONAL LTD
ACQUISITION OF SHARES IN PROGEN HOLDINGS LTD The Board of Directors of Mayfran International Ltd ("Mayfran") is pleased to announce that Mayfran has on 5 February 2002, purchased from Mr Lee Ee @ Lee Eng 5,600,000 shares ("Share Purchase") in the capital of Progen Holdings Ltd ("Progen") representing approximately 3.09% of the issued share capital of Progen for a total consideration of S$1,568,000. The consideration was arrived at on a willing-buyer and willing-seller basis. The Share Purchase is in line with Mayfran's intentions, as announced on 22 January 2002, to set up a business development/investment unit to invest in companies in Asia. The acquisition is funded from internal resources of the Company and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Company for the current financial year. The Board of Directors of Mayfran has also been informed by Yong Kang International Ltd ("Yong Kang"), a substantial shareholder of Mayfran, that it has on 5 February 2002 purchased 25,900,000 shares in the share capital of Progen representing approximately 14.27% of the issued share capital of Progen. Mr Johnlin Yuwono, a director of Mayfran, and his wife, Mdm Chu Jang Lie, each holds 50% of the issued share capital in Yong Kang. Save for Mr Johnlin Yuwono's and Yong Kang's interests as described above, none of the Directors or substantial shareholders of Mayfran has any interests, in the above transactions save for their interests arising by way of their shareholdings and/or directorships, as the case may be, in Mayfran. Submitted by Koh Leng Nguang, Director on 05/02/2002 to the SGX |
| (Post 42 of 258) 02/20/2002.08:35:57 |
| Author : |
MAYFRAN INTERNATIONAL LTD
RESIGNATION AND APPOINTMENT OF DIRECTORS AND CHANGE IN AUDIT COMMITTEE MEMBER The Board of Directors of Mayfran International Ltd (the "Company") wishes to announce the resignation of Mr Koh Leng Nguang as a Director and the appointment of the following persons as Directors of the Company with effect from 19 February 2002: Mr Daniel Yu - Executive Mr Yu Shiaw Shian - Non-executive Mr Toyoji Tatsuoka - Non-executive Mr Ichiro Kawada - Executive Mr Koh Leng Nguang also ceased to be a member of the Audit Committee with effect from the same date and had been replaced by Mr Toyoji Tatsuoka. Mr Toyoji Tatsuoka is considered non-independent of management pursuant to Section 902(4)(a) of the Listing Manual of the Singapore Exchange Securities Trading Limited. The Audit Committee now comprises the following members: Mr Teo Kiang Kok - Chairman & Independent Director Mr Peter Chan Pee Teck - Independent Director Mr Toyoji Tatsuoka - Non-independent Director BY ORDER OF THE BOARD Submitted by Johnlin Yuwono, Director on 19/02/2002 to the SGX |
| (Post 43 of 258) 02/20/2002.08:36:18 |
| Author : |
MAYFRAN INTERNATIONAL LTD
Announcement Of Appointment Of Director Date of appointment: 19 Feb 2002 Name: Daniel Yu Age: 59 Country of principal residence: Indonesia Whether appointment is executive, and if so, the area of responsibility: Executive Responsible for the business of the company particularly in Indonesia and China Working experience and occupation(s) during the past 10 years: Mr Daniel Yu is one of the directors in the Yuwono group. His main responsibility is in the textile manufacturing business, such as spinning, knitting, dyeing, garment and woven label. He is also in charge of the product development work for a sister company selling English-Indonesian electronic translator under ALFALINK brand. His other valuable contributions to the companies other than textile manufacturing business within the past 10 years include the starting up of a joint venture company to market key-telephone and PABX system with a Taiwanese maker, the take over of an existing company in the business of selling Japanese made embroidery machine and other textile machinery from Tomen along with his support in coordinating and supervising the product development and cost reduction program in the sanitary napkin plant during the critical period. Mr Daniel Yu holds a master degree in electrical engineering from California State University, USA. Other directorships Past: PT Transindo Infotek (telecom equipment) PT Timurec Masindo (textile machinery) Yuwono Brothers Pte Ltd Yuhong Trading Co., Ltd Present: PT Central Star Knitting (textile) PT Malak International Textile (textile) PT Muller Labelindo (textile) PT Freshindo Marketama (electronic dictionary products) Shareholding in the listed issuer and its subsidiaries: None Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: Yes Uncle to Mr Johnlin Yuwono Conflict of interest: None Declaration by a Director, Executive Officer or Controlling Shareholder as Required ( Per Appendix 15) - 1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ? No 1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner? No 1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ? No 2. Are there any unsatisfied judgements outstanding against you ? No 3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ? No 4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ? No 5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ? No 6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? No 7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company? No 8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ? No 9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership? No Submitted by Johnlin Yuwono, Director on 19/02/2002 to the SGX |
| (Post 44 of 258) 02/20/2002.08:36:48 |
| Author : |
MAYFRAN INTERNATIONAL LTD
Announcement Of Appointment Of Director Date of appointment: 19 Feb 2002 Name: Yu Shiaw Shian Age: 49 Country of principal residence: Indonesia Whether appointment is executive, and if so, the area of responsibility: Non-executive Working experience and occupation(s) during the past 10 years: Mr Yu Shiaw Shian is one of the directors in the Yuwono Group. His main responsibility is in the real estate development, retail and trading businesses as listed below: PT Freshindo Marketama - in charge of importing and distributing consumer electronic products (mainly electronic dictionary product) in Indonesia PT Samara Yuwono - in charge of a retail shop chains of office automation products in Jakarta PT Delta Kirana Utama - coordinating the development of industrial property in Greater Jakarta area Sri Yuwono Enterprise - coordinating the distribution of electronic dictionary products in Singapore Yucal International Inc. - coordinating the importing and exporting of textile and garment in Los Angeles, USA Le Versailles - setting up and coordinating a luxury European furniture retail shop in Shanghai, China Other directorships Past: Group Sense Yuwono Pte Ltd Yuwono Brothers Pte Ltd Penbridge Inc. Present: PT Freshindo Marketama PT Delta Kirana PT Samara Yuwono PT Sumber Air Mas Pratama Sri Yuwono Enterprises Yucal International, Inc. Yu US Investment Co. Le Versailles Shareholding in the listed issuer and its subsidiaries: None Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: Yes Brother to Mr Johnlin Yuwono Conflict of interest: None Declaration by a Director, Executive Officer or Controlling Shareholder as Required ( Per Appendix 15) - 1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ? No 1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner? No 1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ? No 2. Are there any unsatisfied judgements outstanding against you ? No 3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ? No 4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ? No 5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ? No 6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? No 7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company? No 8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ? No 9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership? No Submitted by Johnlin Yuwono, Director on 19/02/2002 to the SGX |
| (Post 45 of 258) 02/20/2002.08:37:06 |
| Author : |
MAYFRAN INTERNATIONAL LTD
Announcement Of Appointment Of Director Date of appointment: 19 Feb 2002 Name: Toyoji Tatsuoka Age: 52 Country of principal residence: Japan Whether appointment is executive, and if so, the area of responsibility: Non Executive Working experience and occupation(s) during the past 10 years: Mr Toyoji Tatsuoka is the President and Chief Executive Officer of Japan Asia Investment Co., Ltd. (JAIC). After graduating with a B.S. in Physics from the University of Tokyo in 1974, Mr Tatsuoka joined Hitachi Ltd. where he worked for 14 years. In the International Divisions of Hitachi Ltd., he dedicated himself to selling a variety of industrial machinery, from semiconductors to heavy industry equipment and facilities, visiting more than 50 countries. Through his experience at Hitachi Ltd., he widened his knowledge of various products and project finance, and enriched his experience of international business. In 1988, Mr Tatsuoka joined JAIC, where he played a key role in the opening of the Nagoya Branch as the first General Manager of the Branch (1989), and thereafter became General Manager of the Osaka Branch (1990), Deputy Director of Investment (1992), Deputy Director of the Business Promotion Division (1994), Director (1994), and Managing Director (1996). When he was the Deputy Director of the Business Promotion Division, he led JAIC's public placement of JPY 28 billion raised in Japan and abroad, through its own resources, which is counted as one of the biggest public placements for an unlisted company (JAIC stocks were listed in 1996). In 1998, Mr Tatsuoka was appointed as the President and Chief Executive Officer of JAIC. Since then, he has devoted himself to changing JAIC to a totally innovative venture capital by implementing new businesses, building a global alliance, and creating a new organization under the "Unit" system. Other directorships Past: Present: JAIC Business Service Co., Ltd. JAIC Finance Co., Ltd. JAIC Investment Advisory Co. Ltd. JAIC Management Research Inc. JAPAN Private Equity Co., Ltd. JAIC Asia Holding Pte. Ltd. JAIC America, Inc. JAIC International (Hong Kong) Co., Ltd. JAIC-Somerly Corporate Development Fund Limited JAIC Korea Co., Ltd JAIC Aozora Buy-Out Company JAIC-CDIB Investment, Inc. JAIC Lanka (Private) Limited Korea Seven Corporation Yuno Limited Shareholding in the listed issuer and its subsidiaries: None Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None Conflict of interest: None Declaration by a Director, Executive Officer or Controlling Shareholder as Required ( Per Appendix 15) - 1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ? No 1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner? No 1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ? No 2. Are there any unsatisfied judgements outstanding against you ? No 3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ? No 4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ? No 5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ? No 6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? No 7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company? No 8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ? No 9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership? No Submitted by Johnlin Yuwono, Director on 19/02/2002 to the SGX |
| (Post 46 of 258) 02/20/2002.08:37:26 |
| Author : |
MAYFRAN INTERNATIONAL LTD
Announcement Of Appointment Of Director Date of appointment: 19 Feb 2002 Name: Ichiro Kawada Age: 35 Country of principal residence: Indonesia Whether appointment is executive, and if so, the area of responsibility: Executive To establish the investment division which will invests in companies that will bring new values to the company Working experience and occupation(s) during the past 10 years: Mr Kawada has 11 years of experience in the investment business. He has supported many Japanese companies to go to overseas and has established the wide network among the Japanese society in Asia. He is also the President Director of PT JAIC Indonesia, the subsidiary of Japan Asia Investment Co., Ltd, a Venture Capital company (Investment Banking) based in Tokyo. His areas of responsibilities include the divestment of Indonesian invested companies and investment banking business of PT JAIC Indonesia. Other directorships Past: Present: PT JAIC Indonesia Shareholding in the listed issuer and its subsidiaries: None Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries: None Conflict of interest: None Declaration by a Director, Executive Officer or Controlling Shareholder as Required ( Per Appendix 15) - 1(a) Were you in the last 10 years involved in a petition under any bankruptcy laws in any jurisdiction filed against you ? No 1(b) Were you in the last 10 years a partner of any partnership involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a partner? No 1(c) Were you in the last 10 years a director or an executive director of any corporation involved in a petition under any bankruptcy laws in any jurisdiction filed against it while you were such a director or executive officer ? No 2. Are there any unsatisfied judgements outstanding against you ? No 3. Have you been convicted of any offence, in SIngapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more, or charged for violation of any securities laws? Are you the subject of any such pending criminal proceeding ? No 4. Have you at any time been convicted of any offence, in Singapore or elsewhere, involving a breach of any securities or financial market laws, rules or regulations ? No 5. Have you received judgment against you in any civil proceeding in Singapore or elsewhere in the last 10 years involving fraud, misrepresentation or dishonesty? Are you the subject of any such pending civil proceeding ? No 6. Have you been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? No 7. Have you ever been disqualified from acting as a director of any company, or from taking part in any way directly or indirectly in the management of any company? No 8. Have you been the subject of any order, judgement or ruling of any court of competent jurisdiction, tribunal or governmental body permanently or temporarily enjoining you from engaging in any type of business practice or activity ? No 9. Have you , to your knowledge, in SIngapore or elsewhere, been concerned with the management or conduct of affairs of any company or partnership which has been investigated by an inspector appointed under the provisions of the Companies Act, or other securities enactments or by any other regulatory body in connection with any matter involving the company partnership occurring or arising during the period when you were so concerned with the company or partnership? No Submitted by Johnlin Yuwono, Director on 19/02/2002 to the SGX |
