| Pursuant to Paragraph 10.08(1) of the Listing Requirements of Bursa Malaysia Securities Berhad, we wish to inform that the following related parties of PacificMas, have redeemed unit trusts in the following unit trust funds managed by Pacific Mutual
:- |
| Date of Redemption |
Name of Related Party |
Name of Fund |
Redemption
Value (RM) |
Price per unit (RM) |
| 15 August 2007 |
Malaysian Trustees Berhad |
Pacific Income Fund |
500,000.00 |
0.5886 |
| 6 September 2007 |
Malaysian Trustees Berhad |
Pacific Income Fund |
588,831.04 |
0.6007 |
| 6 September 2007 |
Malaysian Trustees Berhad |
Pacific Dividend Fund |
879,304.56 |
0.7046 |
| 24 September 2007 |
Spring Hill Bioventures Sdn Bhd |
Pacific Cash Fund |
3,000,000.00 |
0.5177 |
|
| Pacific Mutual is a 85% owned subsidiary of PacificMas Berhad and its principal business activities are establishment and management of unit trust funds. |
| Spring Hill Bioventures Sdn Bhd is principally engaged in the promotion of and investment in biotechnology companies in and outside of Malaysia. Malaysian Trustees Berhad is engaging in the business of trustee agent, executor and administrator pursuant to the Trust Companies Act, 1949. |
| PacificMas has an indirect interest of 16.67% in Spring Hill Bioventures Sdn Bhd via its two wholly-owned subsidiaries, namely PacificMas Fidelity Sdn Bhd and PacificMas Capital Sdn Bhd. PacificMas also has a direct interest of 20% in Malaysian Trustees Berhad. |
| None of the directors and substantial shareholders of PacificMas and persons connected to such directors and substantial shareholders has any interest in the abovesaid transactions save for the following :- |
| i) |
Oversea-Chinese Banking Corporation Limited ("OCBC"), a substantial shareholder of PacificMas, has an indirect interest of 33.33% in Spring Hill Bioventures Sdn Bhd via Great Eastern Life Assurance (Malaysia) Berhad ("GELA"). GELA is a wholly-owned subsidiary of The Great Eastern Life Assurance Company Limited which in turn is a wholly-owned subsidiary of Great Eastern Holdings Limited. Great Eastern Holdings Limited is a subsidiary of OCBC. |
| ii) |
OCBC has an indirect interest of 20% in Malaysian Trustees Berhad via its wholly-owned subsidiary, OCBC Bank (Malaysia) Berhad. |
| iii) |
United Malacca Berhad, a substantial shareholder of PacificMas, has a direct interest of 20% in Malaysian Trustees Berhad. |
| iv) |
Mr. Choi Siew Hong is a director of PacificMas, Pacific Mutual, Malaysian Trustees Berhad and United Malacca Berhad. He has a direct interest of 0.12% in PacificMas and a direct interest of 0.17% in United Malacca Berhad. He does not have any interest in Pacific Mutual nor Malaysian Trustees Berhad. |
| v) |
Mr. Wong Nang Jang is a director of PacificMas and OCBC. He has a total interest of 0.01% in OCBC and does not have any equity interest in PacificMas. |
| vi) |
Y. Bhg. Datuk Fong Weng Phak is a director of Pacific Mutual, United Malacca Berhad and GELA. He does not have any equity interest in Pacific Mutual, United Malacca Berhad nor GELA. |
|
| The aforesaid transactions are not subject to the approval of the shareholders of PacificMas and the relevant government authorities. |
| |
| This announcement is dated 25 September 2007. |
| |
