Changes In Equity Interest In Associated Company, Dayang Enterprise Holdings Berhad ("DEHB")

BackApr 21, 2008
Further to our announcements on 28 December 2007 in respect of the execution of conditional share sale agreements as part of the restructuring exercise to effect the listing of DEHB and 3 March 2008 in respect of the completion of the conditional share sale agreements whereby the Company upon the said completion owns 45% equity in DEHB making DEHB an associate company of the Naim Group.

However, in implementing DEHB's Securities Commission approved listing scheme, on 17 April 2008, DEHB has made a public issue of 85.874 million ordinary shares comprising:-

a) 17.6 million for Malaysian public;
b) 59.774 million for private placement
c) 8.5 million for eligible directors, employees and business associates

which resulted in the Company's equity in DEHB to be diluted from 45% to 34%.

DEHB is scheduled for listing on the main board of Bursa Malaysia Securities Berhad on 24 April 2008.

Dated : 21 April 2008