FABER

Faber's price was pushed up to RM1 (highest RM1.03) at the time of posting this chart (dated 21 Jul 2009) today, with thin volume.

LEADER

SARAWAK

2356 SARAWAK SARAWAK ENERGY BERHAD

Acquisition of 100% Shareholding in Sime Darby Power Link Sdn Bhd. Acquisition of Sime Darby Energy Sdn Bhds Entire 100% Shareholding in Sime Darby Power Link Sdn Bhd by Sarawak Energy Berhad and Tenaga Nasional Bhd Sarawak Energy Berhad (SEB) wishes to refer to the earlier announcement made on 21 January 2009 in relation to the development of the undersea High Voltage Direct Current (HVDC) transmission cable and the associated transmission lines and facilities connecting Bakun Hydroelectric Plant in Sarawak and Bentong in Pahang (Project).

SEB wishes to announce that SEB and Tenaga Nasional Berhad (TNB) have entered into a Share Sale Agreement (SSA) with Sime Darby Energy Sdn Bhd (SDESB) on 10 July 2009 in relation to the acquisition of 100% of the issued and paid-up shares in Sime Darby Power Link Sdn Bhd (SDPLSB) by SEB and TNB. SDPLSB is a special purpose vehicle established by SDESB to undertake the development and operation of transmission facilities to supply electricity from Sarawak to East Malaysia and Peninsular Malaysia. The acquisition of SDPLSB will allow SEB and TNB to gain access and leverage on the preliminary studies conducted on the Project including the on-going Environmental Impact Assessment (EIA) on the Indonesian territorial water. 77% of the undersea HVDC transmission cable is expected to transverse across indonesian territorial water.

Pursuant to the SSA, SEB and TNB will each acquire one ordinary fully paid-up share of RM1.00 each in SDPLSB from SDESB. The total purchase consideration for two ordinary fully paid-up shares of RM1.00 each, representing the entire issued and paid-up capital of SDPLSB is RM15,625,302 plus an adjustment amount to cater for additional cash advances made by SDESB to SDPLSB for the payment to the consultants as at the completion of the SSA, which will be no later than seven business days from the execution date of the SSA or such other extended
period or periods as may be mutually agreed between the parties. The total purchase consideration was arrived at on a willing buyer willing seller basis free from all encumbrances after taking into account certain costs incurred by SDPLSB to-date for undertaking the preliminary works and studies in respect of the Project, including the EIA for the undersea cable. By acquiring SDPLSB, SEB and TNB will have a time factor advantage and facilitate a seamless transition for the on-going studies and regulatory approval processes initiated by SDPLSB
some 12 months ago.

Upon completion of the SSA, SEB and TNB will each hold 50% of the issued and fully paid-up capital of SDPLSB. It is intended for the Minister of Finance Incorporated to participate the equity of SDPLSB at the appropriate juncture. For the current financial year, this transaction is not expected to have any effect on the issued and paid up capital and is not expected to have a material effect on the earnings and the net assets of SEB Group or on the shareholding
of the substantial shareholders of SEB. None of the directors or major shareholders of SEB, or persons connected with the directors or major shareholders of SEB have interest, direct or indirect in the above transaction.

This announcement is dated 10 July 2009.
10/07/2009 06:24 PM
Ref Code: 20090710GA00214

Berjaya Toto

Dream Gate

HIL

Kijang Coins - Some Points to Ponder

You should read this article if you want to invest in Kijang Coins.


http://whereiszemoola.blogspot.com/2009/07/investing-or-trading-in-gold-in.html

LION CORPORATION

Equine

MACD Divergence