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(Post 1 of 24) 05/28/1999.22:32:00 |
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Good result. Up 23%. Why going downwards? Undervalue. Any big player pls help to push... |
| (Post 2 of 24) 11/11/1999.04:55:00 |
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Transit-Mixed Concrete H1 to Aug net profit 1.73 mln sgd vs 1.67 SINGAPORE (AFX-ASIA) - Transit-Mixed Concrete Ltd six months to August results: Net profit - 1.73 mln sgd vs 1.67 mln Sales - 53.51 mln sgd vs 34.2 mln Pre-tax profit - 3.05 mln sgd vs 2.26 mln EPS - 2.55 cents vs 2.45 Interim div - 0.75 cents, unchanged The company said the outlook for the second half will continue to be difficult for the local ready-mixed concrete industry but it expects its performance to be satisfactory. In a review of its first half, it said increased business activities by its associate and subsidiary companies helped to improve profit. |
| (Post 3 of 24) 05/27/2000.05:12:00 |
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Transit-Mixed Concrete yr to Feb 2000 net profit 2.356 mln sgd vs 3.024 SINGAPORE (AFX-ASIA) - Transit-Mixed Concrete year to Feb 2000 results: Net Profit - 2.356 mln sgd vs 3.024 mln Sales - 88.90 mln sgd vs 70.64 mln Pre-tax profit - 4.188 mln sgd vs 4.054 mln EPS - 3.47 cents vs 4.45 Final div - 0.75 cents - unchanged jb/fr AFN BBG52-26May00 09:27 GMT AFX ; ASIA ; |
| (Post 4 of 24) 08/10/2000.08:47:00 |
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This stock is like a good wife, productive, faithful, and valuable in its own right, but just not being appreciated. |
| (Post 5 of 24) 08/13/2000.21:11:00 |
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Insider started buying back the share! Also, just obtained mandate to buy back another 6.8 million shares. (Go to Asia Stockwatch for more details - under "trading by insiders") Looks like the share is worth picking up!  |
| (Post 6 of 24) 08/15/2000.18:05:00 |
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This stock is definitely worth keeping, 20 over % ROE, NTA at .28 and priced at 25 cents, wow!! |
| (Post 7 of 24) 09/12/2000.02:31:00 |
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DJ Singapore Business Briefs:Transmit-Mixed Forms China Unit
Source : Dow Jones 13:06 11/09/2000 SINGAPORE (Dow Jones)--Transmit-Mixed Concreted Ltd. (P.TCC) said Monday it has formed a unit, TMC (Beijing) Materials Co. Ltd., in China with an authorized and paid-up capital of US$300,000 funded by internal resources. The unit is in the stone and sand quarry operations and the trading of building materials. |
| (Post 8 of 24) 09/12/2000.03:51:54 |
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INCORPORATION OF A SUBSIDIARY IN THE PEOPLE'S REPUBLIC OF CHINA
The Board of Directors of Transit-Mixed Concrete Ltd ("TMC" or "the Company") is pleased to announce that it has formed a wholly owned subsidiary, TMC(Beijing) Materials Co. Ltd. ("TMCB") in the People's Republic of China. The principal activities of TMCB are those of the stone & sand quarry operations and trading of building materials. There is no material effect on the net tangible assets and earnings per share of the Company for the current financial year. None of the directors or substantial shareholders of the Company has any direct or indirect interest in the above. By order of the Board TRANSIT-MIXED CONCRETE LTD Submitted by Chen Lee Lee, Company Secretary on 11/9/00 to the SGX |
| (Post 9 of 24) 09/15/2000.00:05:55 |
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Transit-Mixed unit raises stake in Crescent Concrete to 66.50 pct from 35
SINGAPORE (AFX-ASIA) - Transit-Mixed Concrete Ltd said its wholly-owned Malaysian unit Transit-Mixed Concrete (M) Sdn Bhd has increased its stake in Crescent Concrete Sdn Bhd to 66.50 pct from 33.0 pct, after acquiring 1.242 mln Crescent Concrete shares for 1.242 mln ringgit. |
| (Post 10 of 24) 09/15/2000.02:45:31 |
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Increase of Shareholding in Crescent Concrete Sdn. Bhd.
The Board of Directors of Transit-Mixed Concrete Ltd ("TMC" or "the Company") wish to announce that TMC has on 14 September 2000 increased its shareholding in Crescent Concrete Sdn. Bhd.("Crescent") from 35% to 66.5% through its Malaysian wholly owned Subsidiary, Transit-Mixed Concrete (M) Sdn. Bhd. ("TMCM"), of which 1,242,500 new ordinary shares ('the shares") of RM1/- in Crescent was alloted at a total consideration of RM1,242,500 of which 927,500 ordinary shares of RM1/- was fully subscribed for cash and 315,000 ordinary shares of RM1/- was a capitalisation of the sum of RM315,000 owing to TMCM. The allotment of shares was financed by internal sources. The present issued and paid-up share capital of Crescent is RM2,000,000 divided into 2,000,000 ordinary shares of RM1/- each. Following the allotment of shares, Crescent has become a subsidiary of TMCM. None of the Directors of TMC has any interest, direct or indirect, in the above which is not expected to have a material impact on the net tangible assets and earnings per share of TMC. By Order of the Board TRANSIT-MIXED CONCRETE LTD Submitted by Chen Lee Lee, Company Secretary on 14 September 2000 to the SGX |
| (Post 11 of 24) 10/10/2000.12:56:35 |
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ACTIONGLOBE PTE LTD
The Board of Directors of Transit-Mixed Concrete Ltd ("TMC" or "the Company") is pleased to announce that TMC has entered into a shareholders' agreement ("SH Agreement") with Mr. Low Tze Shean, Mr. Lim Tee Seng, Mr. Tan Tee Hin and Mr. Chua Eng Him and Mr. Yap Boh Lim (both directors and substantial shareholders of the Company) to invest in ActionGlobe Pte Ltd ("Action"). Under the SH Agreement, TMC will subscribe for 50,000 ordinary shares of $1.00 each in the share capital of Action (representing 25% of the shareholdings) for a total consideration of $50,000.00 . This will be financed by internal funds of the Company. Following the subscription of shares, Action will become an associated company of TMC. Mr. Chua Eng Him will subscribe for 100,000 ordinary shares (representing 50% of the shareholdings) in Action for a total consideration of $100,000.00 while Mr. Yap Boh Lim will subscribe for 20,000 ordinary shares (representing 10% of the shareholdings) in Action for a total consideration of $20,000.00 . The principal business of Action is to carry out the business of providing digital media solutions and digital media Internet lifestyle such as video-based content acquisitions, video editing, video hosting, video-based Management-information system solutions, video-based Internet services and other services related to Information Technology and Video. The above transaction is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the current financial year. Save as disclosed above, none of the directors or substantial shareholders of the Company has any direct or indirect interest in the above transaction. By Order of the Board TRANSIT-MIXED CONCRETE LTD Submitted by Chen Lee Lee, Company Secretary on 10/10/2000 to the SGX |
| (Post 12 of 24) 12/05/2000.23:05:05 |
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Transit-Mixed says year to Feb results unlikely to be profitable
SINGAPORE (AFX-ASIA) - Transit-Mixed Concrete Ltd said its full year to Feb results are unlikely to be profitable. "The group performance for the second half is unlikely to improve, as lower demand and depressed selling prices will contrinue to prevail in the local ready mixed concrete market," it said. "In view of this scenario, the directors do not expect the full year results to be profitable," it said. In the first half to August, the company achieved a net profit of 142,000 sgd on sales of 28.327 mln sgd, against a net profit of 1.730 mln sgd on sales of 53.509 mln sgd a year earlier. |
| (Post 13 of 24) 11/27/2000.22:33:45 |
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Transit-Mixed Concrete H1 to Aug net profit 142,000 sgd vs 1.730 mln
SINGAPORE (AFX-ASIA) - Transit-Mixed Conrete Ltd six months to August results: Net profit - 142,000 sgd vs 1.730 mln Sales - 28.327 mln sgd vs 53.509 mln Pretax profit - 175,000 sgd vs 2.961 mln EPS - 0.21 cents vs 2.55 Interim div - 0.75 cents, unchanged "Group performance for the second half of the financial year is unlikely to improve as lower demand and depressed selling prices will continue to prevail in the local ready mixed concrete market," the company said. |
| (Post 14 of 24) 03/21/2001.13:44:58 |
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TENANCY AGREEMENT WITH INTERESTED PERSON - CHAPTER 9A LISTING MANUAL
The Board of Directors of Transit-Mixed Concrete Ltd ("TMC" or "the Company") wishes to announce that TMC has renewed a 3-year tenancy agreement with Mr. Chua Eng Him for the lease of the premises known as No. 150, Changi Road #03-04/05, Guthrie Building, Singapore 419973. Mr. Chua Eng Him, a director and substantial shareholder of the Company, is regarded as an interested person under Chapter 9A of the Listing Manual of the Singapore Exchange Securities Trading Limited. The total floor area of the premises is about 2,292 square feet. The lease is for 3 years commencing 1 March 2001. The monthly gross rent (inclusive of maintenance) is S$5,959.20 or S$2.60 per square foot, exclusive of GST which is payable by the Company. The Lease was negotiated on an arm's length basis and on normal commercial terms. The Audit Committee of the Company has reviewed the terms of the Lease and are of the view that they are fair and reasonable in the light of the prevailing market conditions, and are not prejudicial to the interests of shareholders of the Company. Pursuant to the provisions of Chapter 9A of the Listing Manual above, the transaction does not require the approval of shareholders of the Company as it is of a value below Threshold 1. Save as disclosed above, none of the directors or substantial shareholders of the Company has any direct or indirect interest in the above transaction. Submitted by Chen Lee Lee, Company Secretary on 21/3/2001 |
| (Post 15 of 24) 08/31/2001.00:17:32 |
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CLARIFICATION TO ARTICLE ENTITLED "TMC OPENS SHAANXI COLLEGE, EYES MORE PROVINCES" APPEARING IN BUSINESS TIMES DATED 28 AUGUST 2001
It was reported in The Business Times ("BT") on 28th August 2001 that the Company's Managing Director and Chief Executive Officer, Dr Chin Kon Yuen had told BT that "in about five years' time, revenue from overseas should be higher than revenue from our Singapore operations". The Company wishes to clarify that the statement is that of Dr Chin Kon Yuen's personal opinion and aspiration for the Company. While the Company and the Board of Directors recognize the continued expansion of TMC's operation overseas, the revenue forecast arising from such expansion has not been discussed in detail. Submitted by Loh Shu Chun, Company Secretary on 30/08/2001 |
| (Post 16 of 24) 09/04/2001.22:43:32 |
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CONCRETE OEM PTE LTD
The Board of Directors of Transit-Mixed Concrete Ltd ("TMC" or "the Company") wishes to announce that TMC has entered into a shareholders' agreement ("SH Agreement") with RDC Concrete Pte Ltd ("RDC") to form a new company, Concrete OEM Pte Ltd ("OEM"). OEM has been incorporated with an authorised share capital of S$100,000/- and an issued & paid-up share capital of S$3/-. The principal business of OEM is to carry out the businesses of producing, delivering and sale of ready-mixed concrete and other services or activities related to the ready-mixed concrete exclusively for the Company and RDC. The authorised and issued & paid-up share capital of OEM will be increased to S$5,000,000/- and S$4,600,000/- respectively. TMC will subscribe for 1,800,000 ordinary shares of S$1/- each in OEM (representing 39.2% of the equity) for a total consideration of S$1,800,000/- while RDC will hold the remaining 60.8%. TMC's investment in OEM will be financed through internal funds of the Company. Following the subscription of shares, OEM will become an associated company of TMC. The investment in OEM is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the current financial year. Under the SH agreement, certain equipment of TMC will be transferred to OEM based on market valuation of approximately S$1 million. Consequently, TMC will make a capital gain of approximately S$0.9 million. The proceeds arising from the sale of equipment will be utilised as working capital for the Company. The capital gain of S$0.9 million is expected to contribute positively to the net tangible assets and earnings per share of the Company for the current financial year. None of the directors or substantial shareholders of the Company has any direct or indirect interest in the above transaction. Submitted by Chen Lee Lee, Company Secretary on 4/9/01 |
| (Post 17 of 24) 03/11/2002.13:44:19 |
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TRANSIT-MIXED CONCRETE LTD
FORMATION OF NOMINATING COMMITTEE AND REMUNERATION COMMITTEE Pursuant to the recommendations under the Code of Corporate Governance and in compliance thereof, the Board of Directors of Transit-Mixed Concrete Ltd (the "Company") would like to announce the formation of the following committees with effect from 7 March 2002: 1. The Nominating Committee comprises the following directors: Chairman - Mr. Tan Kok Hiang (independent director) Members - Mr . Low Yee Kah (independent director) - Mr. Chua Eng Him (executive director) 2. The Remuneration Committee comprises the following directors: Chairman - Mr. Tan Kok Hiang (independent director) Members - Mr. Low Yee Kah (independent director) - Mr. Wee Ee Lim (non-executive director) By Order of the Board TRANSIT-MIXED CONCRETE LTD Submitted by Chen Lee Lee, Company Secretary on 11 March 2002 to the SGX |
| (Post 18 of 24) 04/11/2002.16:10:06 |
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TRANSIT-MIXED CONCRETE LTD
Disclosure of Persons Occupying Managerial Positions Who Are Related To A Director and/or Substantial Shareholder Pursuant to Clause 902(3)(c) of the Listing Manual, Transit-Mixed Concrete Ltd ('the Company") wishes to announce that there are no persons occupying managerial positions in the Company who are related to a director and/or substantial shareholder of the Company or of any of its principal subsidiaries. Submitted by Chen Lee Lee, Company Secretary on 11/04/2002 to the SGX |
| (Post 19 of 24) 05/23/2002.14:22:31 |
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TRANSIT-MIXED CONCRETE LTD
Proposed Final Dividend For The Year Ended 28 February 2002-Change in Corporate Income Tax Rate The Company wishes to advise that in view of the reduction in the corporate tax rate from 24.5% to 22% announced in the 2002 Budget, the proposed final dividend of 5% less Singapore income tax for the year ended 28 February 2002 announced in the Company's Full Year Financial Statement on 22 May 2002 will be less 22% income tax instead of 24.5% income tax. By Order of the Board Transit-Mixed Concrete Ltd Submitted by Chen Lee Lee, Company Secretary on 23/5/02 to the SGX |
| (Post 20 of 24) 07/05/2002.16:01:44 |
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TRANSIT-MIXED CONCRETE LTD
Notice Of Annual General Meeting NOTICE IS HEREBY GIVEN that the Twenty-Second Annual General Meeting of Transit-Mixed Concrete Ltd will be held at Canning Room, Level 2, Grand Plaza Hotel, 10 Coleman Street, Singapore 179809 on Friday, 26 July 2002 at 10.00 a.m. to transact the following business:- ORDINARY BUSINESS 1. To receive and consider the audited Accounts for the year ended 28 February 2002 and the Reports of the Directors and Auditors thereon. 2. To declare a final dividend of 5% less 22% Singapore income tax. 3. (a) To re-elect Mr Yap Boh Lim, a Director retiring pursuant to Article 89 of the Company's Articles of Association. (Note : Mr Yap Boh Lim is a non-independent Director. If re-elected, he will remain an Audit Committee member.) (b) To re-elect Mr Tan Kok Hiang, a Director retiring pursuant to Article 89 of the Company's Articles of Association. (Note : Mr Tan Kok Hiang is an independent Director. If re-elected, he will remain an Audit Committee member and Chairman of the Audit Committee.) 4. To re-appoint KPMG as Auditors of the Company and to authorise the Directors to fix their remuneration. SPECIAL BUSINESS 5. To consider and, if thought fit, to pass with or without modifications the following resolution as ordinary resolution:- "That Directors' fees of $75,000 for the year ended 28 February 2002 be and is hereby approved (2001: $75,000)." 6. To consider and, if thought fit, to pass with or without modifications the following resolution as ordinary resolution:- "That:- a) pursuant to Section 161 of the Companies Act, Cap. 50 and the listing rules of the Singapore Exchange Securities Trading Limited, authority be and is hereby given to the Directors of the Company to issue shares in the Company (whether by way of rights, bonus or otherwise) at any time and upon such terms and conditions and for such purposes and to such persons as the Directors may in their absolute discretion deem fit provided that the aggregate number of shares to be issued pursuant to this resolution does not exceed 50% of the issued share capital of the Company, of which the aggregate number of shares to be issued other than on a pro-rata basis to shareholders of the Company does not exceed 20% of the issued share capital of the Company; b) for the purpose of this resolution, the percentage of issued share capital shall be calculated based on the maximum potential share capital at the time this resolution is passed (taking into account the conversion or exercise of any convertible securities and employee share options on issue at the time this resolution is passed, which were issued pursuant to previous shareholder approval), adjusted for any subsequent consolidation or subdivision of the Company's shares; and c) unless revoked or varied by the Company in general meeting, such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier." OTHER BUSINESS 7. To transact any other business that may be transacted at an Annual General Meeting. NOTICE IS ALSO HEREBY GIVEN that the Transfer Books and Register of Members of the Company will be closed on 8 August 2002 for the purpose of determining shareholders' entitlements to the proposed final dividend of 5% less 22% Singapore income tax for the year ended 28 February 2002. Duly completed transfers received by the Company's Registrars, M & C Services Private Limited, at 138 Robinson Road #17-00, The Corporate Office, Singapore 068906 up to 5.00 p.m. on 7 August 2002 will be registered before entitlements to the dividend are determined. The dividend, if approved by the shareholders at the Twenty-Second Annual General Meeting, will be paid on 23 August 2002. Members whose Securities Accounts with The Central Depository (Pte) Limited are credited with shares at 5.00 p.m. on 7 August 2002 will be entitled to the dividend. By Order of the Board Chen Lee Lee Company Secretary Singapore 5 July 2002 Note A member of the Company entitled to attend and vote at the above meeting may appoint a proxy to attend and vote on his behalf and such proxy need not be a member of the Company. The instrument appointing a proxy must be lodged at the registered office of the Company at 150 Changi Road #03-05, Guthrie Building, Singapore 419973 not less than 48 hours before the time fixed for the holding of the meeting. Statement pursuant to Article 52 of the Company's Articles of Association 1. The ordinary resolution proposed in item 5 above is to approve the payment of Directors' fees for the year ended 28 February 2002. 2. The ordinary resolution proposed in item 6 is to authorise the Directors of the Company to issue shares up to 50% of the Company's issued share capital, with an aggregate sub-limit of 20% of the Company's share capital for any issue of shares not made on a pro-rata basis to shareholders of the Company. Submitted by Chen Lee Lee, Company Secretary on 5 July 2002 to the SGX |
| (Post 21 of 24) 07/05/2002.16:01:52 |
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TRANSIT-MIXED CONCRETE LTD
Notice Of Annual General Meeting NOTICE IS HEREBY GIVEN that the Twenty-Second Annual General Meeting of Transit-Mixed Concrete Ltd will be held at Canning Room, Level 2, Grand Plaza Hotel, 10 Coleman Street, Singapore 179809 on Friday, 26 July 2002 at 10.00 a.m. to transact the following business:- ORDINARY BUSINESS 1. To receive and consider the audited Accounts for the year ended 28 February 2002 and the Reports of the Directors and Auditors thereon. 2. To declare a final dividend of 5% less 22% Singapore income tax. 3. (a) To re-elect Mr Yap Boh Lim, a Director retiring pursuant to Article 89 of the Company's Articles of Association. (Note : Mr Yap Boh Lim is a non-independent Director. If re-elected, he will remain an Audit Committee member.) (b) To re-elect Mr Tan Kok Hiang, a Director retiring pursuant to Article 89 of the Company's Articles of Association. (Note : Mr Tan Kok Hiang is an independent Director. If re-elected, he will remain an Audit Committee member and Chairman of the Audit Committee.) 4. To re-appoint KPMG as Auditors of the Company and to authorise the Directors to fix their remuneration. SPECIAL BUSINESS 5. To consider and, if thought fit, to pass with or without modifications the following resolution as ordinary resolution:- "That Directors' fees of $75,000 for the year ended 28 February 2002 be and is hereby approved (2001: $75,000)." 6. To consider and, if thought fit, to pass with or without modifications the following resolution as ordinary resolution:- "That:- a) pursuant to Section 161 of the Companies Act, Cap. 50 and the listing rules of the Singapore Exchange Securities Trading Limited, authority be and is hereby given to the Directors of the Company to issue shares in the Company (whether by way of rights, bonus or otherwise) at any time and upon such terms and conditions and for such purposes and to such persons as the Directors may in their absolute discretion deem fit provided that the aggregate number of shares to be issued pursuant to this resolution does not exceed 50% of the issued share capital of the Company, of which the aggregate number of shares to be issued other than on a pro-rata basis to shareholders of the Company does not exceed 20% of the issued share capital of the Company; b) for the purpose of this resolution, the percentage of issued share capital shall be calculated based on the maximum potential share capital at the time this resolution is passed (taking into account the conversion or exercise of any convertible securities and employee share options on issue at the time this resolution is passed, which were issued pursuant to previous shareholder approval), adjusted for any subsequent consolidation or subdivision of the Company's shares; and c) unless revoked or varied by the Company in general meeting, such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier." OTHER BUSINESS 7. To transact any other business that may be transacted at an Annual General Meeting. NOTICE IS ALSO HEREBY GIVEN that the Transfer Books and Register of Members of the Company will be closed on 8 August 2002 for the purpose of determining shareholders' entitlements to the proposed final dividend of 5% less 22% Singapore income tax for the year ended 28 February 2002. Duly completed transfers received by the Company's Registrars, M & C Services Private Limited, at 138 Robinson Road #17-00, The Corporate Office, Singapore 068906 up to 5.00 p.m. on 7 August 2002 will be registered before entitlements to the dividend are determined. The dividend, if approved by the shareholders at the Twenty-Second Annual General Meeting, will be paid on 23 August 2002. Members whose Securities Accounts with The Central Depository (Pte) Limited are credited with shares at 5.00 p.m. on 7 August 2002 will be entitled to the dividend. By Order of the Board Chen Lee Lee Company Secretary Singapore 5 July 2002 Note A member of the Company entitled to attend and vote at the above meeting may appoint a proxy to attend and vote on his behalf and such proxy need not be a member of the Company. The instrument appointing a proxy must be lodged at the registered office of the Company at 150 Changi Road #03-05, Guthrie Building, Singapore 419973 not less than 48 hours before the time fixed for the holding of the meeting. Statement pursuant to Article 52 of the Company's Articles of Association 1. The ordinary resolution proposed in item 5 above is to approve the payment of Directors' fees for the year ended 28 February 2002. 2. The ordinary resolution proposed in item 6 is to authorise the Directors of the Company to issue shares up to 50% of the Company's issued share capital, with an aggregate sub-limit of 20% of the Company's share capital for any issue of shares not made on a pro-rata basis to shareholders of the Company. Submitted by Chen Lee Lee, Company Secretary on 5 July 2002 to the SGX |
| (Post 22 of 24) 07/15/2002.09:46:13 |
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TRANSIT-MIXED CONCRETE LTD
LETTER IN REPLY TO SGX'S QUERY 13 July 2002 Singapore Exchange Securities Trading Limited 2 Shenton Way #19-00 SGX Centre 1 Singapore 068804 Attention: Mr. Thomas Lam Issuer Regulation Department Dear Sirs Transit-Mixed Concrete Ltd ("TMC" or "The Company") Annual Report For The Financial Year Ended 28 Feb 2002 ("Annual Report") In response to your query dated 11/7/02 on the Annual Report, we are pleased to provide the following information:- 1) Question: We refer to the CEO's message on page 2 of the Annual Report. We note that there was a write-back of $1.1 mil from outstanding debts which the Company was able to recover, However, within Note 20 (c) on page 37 relating to Expenses – Loss from Operations, the allowance for doubtful receivables actually increased from $82,123 to $449,250. Please reconcile. Answer: The write-back of $1.1 mil from outstanding debts pertained to our claim against certain suppliers for price adjustment on material purchases. Provision for the above was treated as accrued operating expenses and debited to cost of sales in the previous financial year. In FY2002, the recovery of $1.1 mil was then credited to cost of sales instead of allowance for doubtful receivables within note 20 (c) on page 37- Loss from Operations. 2) Question: We refer to the Profit and Loss Accounts on page 18 of the Annual Report. We note that there was a 250% increase in Other Operating Expenses from $0.8 mil to $2.1 mil. Please provide explanations for the increase in this item. Answer :The increase was due mainly to: a) Production overheads such as depreciation of plant & machinery, upkeep of plant & machinery etc amounting to $0.7 mil were reclassified as Other Operating Expenses when two of the Company's subsidiaries ceased their production activities during the financial year. The reclassification was done in compliance with SAS 1 (Revised): Presentation of Financial Statements where expenses were classified according to their function. b) Loss on disposal of unquoted equity shares of $0.14 mil; c) Impairment losses on Associates of $50k; d) Pre-operating expenses written off, amortisation of intangibles and allowance for doubtful debts of its foreign subsidiaries amounting to $0.18 mil were classified as Other Operating Expenses. 3) Question: We refer to Note 27 on page 42 of the Annual Report relating to Significant Related Party Transactions. We note that transactions with associates amounted to $10.72 mil or 75% of the Group NTA. Please confirm if these transactions fall within the definition of Rule 906 of the Listing Manual. If so, please confirm if provisions under Rule 906 and 917-919 have been complied with. Answer: The transactions with associates under note 27 on page 42 of the Annual Report refer to transactions with the investee companies, namely Actionglobe Pte Ltd, Beijing Jian Hua Brani Concrete Co. Ltd. and Concrete OEM Pte Ltd listed in note 5 on page 31 of the Annual Report. Our directors, chief executive officer and controlling shareholders and their associates have no interest in the investee companies other than through their shareholdings in TMC. Hence, under Rule 915 of the Listing Manual, these related party transactions are not required to comply with Rules 906 and 917 to 919. Yours faithfully, Chua Eng Him Managing Director Submitted by Chen Lee Lee, Company Secretary on 13/7/02 to the SGX |
| (Post 23 of 24) 07/26/2002.13:37:05 |
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TRANSIT-MIXED CONCRETE LTD
RESOLUTIONS PASSED AT ANNUAL GENERAL MEETING RESOLUTIONS PASSED AT ANNUAL GENERAL MEETING The following ordinary resolutions put to the Twenty-Second Annual General Meeting of the Company on 26 July 2002 were duly passed:- 1. That the audited Accounts for the year ended 28 February 2002 and the Reports of the Directors and Auditors thereon be and are hereby received and adopted. 2. That a final dividend of 5% less 22% Singapore income tax in respect of the year ended 28 February 2002 be paid on 23 August 2002 to members registered in the books of the Company on 7 August 2002. 3. (a) That Mr Yap Boh Lim, a Director retiring pursuant to Article 89 of the Company's Articles of Association, be and is hereby re-elected a Director of the Company. (Mr Yap Boh Lim, a non-independent Director, will remain an Audit Committee member.) (b) That Mr Tan Kok Hiang, a Director retiring pursuant to Article 89 of the Company's Articles of Association, be and is hereby re-elected a Director of the Company. (Mr Tan Kok Hiang, an independent Director, will remain an Audit Committee member and Chairman of the Audit Committee.) 4. That KPMG be and are hereby re-appointed Auditors of the Company until the conclusion of the next Annual General Meeting of the Company at a fee to be agreed upon between the Directors and the Auditors. 5. That Directors' fees of $75,000 for the year ended 28 February 2002 be and is hereby approved. 6. That:- (a) pursuant to Section 161 of the Companies Act, Cap. 50 and the listing rules of the Singapore Exchange Securities Trading Limited, authority be and is hereby given to the Directors of the Company to issue shares in the Company (whether by way of rights, bonus or otherwise) at any time and upon such terms and conditions and for such purposes and to such persons as the Directors may in their absolute discretion deem fit provided that the aggregate number of shares to be issued pursuant to this resolution does not exceed 50% of the issued share capital of the Company, of which the aggregate number of shares to be issued other than on a pro-rata basis to shareholders of the Company does not exceed 20% of the issued share capital of the Company; (b) for the purpose of this resolution, the percentage of issued share capital shall be calculated based on the maximum potential share capital at the time this resolution is passed (taking into account the conversion or exercise of any convertible securities and employee share options on issue at the time this resolution is passed, which were issued pursuant to previous shareholder approval), adjusted for any subsequent consolidation or subdivision of the Company's shares; and (c) unless revoked or varied by the Company in general meeting, such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier. By Order of the Board Transit-Mixed Concrete Ltd Submitted by Chen Lee Lee, Company Secretary on 26/7/02 to the SGX |
| (Post 24 of 24) 08/21/2002.16:00:34 |
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TRANSIT-MIXED CONCRETE LTD
Cessation of Actionglobe Pte Ltd as an Associated Company Pursuant to Rule 704(16)(c) of the Listing Manual, Transit-Mixed Concrete Ltd ("TMC" or "the Company") wishes to announce that Actionglobe Pte Ltd ("Action"), an associated company of TMC had on 20/8/02 increased its issued and paid-up share capital from S$200,000/- to S$450,000/- and S$440,000/- respectively by an allotment of 250,000 new ordinary shares of S$1/- each. The Company had waived its pre-emptive rights to subscribe for 62,500 shares in the capital of Action. Following the allotment, TMC's shareholding in Action was reduced from 25% to 11% and hence, Action ceased to be an associated company of TMC. Mr. Chua Eng Him and Mr. Yap Boh Lim (both directors and substantial shareholders of the Company) are also directors and shareholders of Action. The above is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the current financial year. Save as disclosed above, none of the directors or substantial shareholders of the Company has any direct or indirect interest in the above matter. By Order of the Board Transit-Mixed Concrete Ltd Submitted by Chen Lee Lee, Company Secretary on 21 August 2002 to the SGX |
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