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| We wish to inform the Bursa Malaysia Securities Berhad that on 30 December 2005, United Malacca Berhad, a substantial shareholder of PacificMas Berhad, has purchased 19,900,497.51 units of Pacific Cash Fund at RM0.5025 per unit for a total cash consideration of RM10 million for investment purpose. |
| Pacific Cash Fund is a unit trust fund managed by Pacific Mutual Fund Bhd ("Pacific Mutual"), a subsidiary of PacificMas Berhad. The principal business activities of Pacific Mutual are establishment and management of unit trust funds. United Malacca Berhad is a substantial shareholder of PacificMas Berhad and its principal activities are cultivation of oil palm and investment holding. |
| None of the directors and substantial shareholders of PacificMas Berhad has any interest in the abovesaid transaction save for the following:- |
| i) Mr. Choi Siew Hong is a director of PacificMas Berhad, Pacific Mutual and United Malacca Berhad. He has a direct interest of 0.12% in the share capital of PacificMas Berhad and a direct interest of 0.17% in the share capital of United Malacca Berhad. |
| ii) Y. Bhg. Datuk Fong Weng Phak is a director of Pacific Mutual and United Malacca Berhad. He does not have any interest in the share capital of PacificMas Berhad, Pacific Mutual and United Malacca Berhad. |
| iii) United Malacca Berhad is a substantial shareholder of PacificMas Berhad. |
| The abovesaid transaction is not subject to the approval of the shareholders of PacificMas Berhad and the relevant government authorities. |
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| This announcement is dated 3 January 2006. |
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