| Pursuant to Paragraph 10.08(1) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), we wish to inform that on 27 July 2009, Great Eastern Life Assurance ( Malaysia ) Berhad (" GELA "), a related party of PacificMas, has redeemed units of Pacific Premier Fund, a unit trust fund managed by Pacific Mutual Fund Bhd (“Pacific Mutual”). The details of the redemption are as per Table A below. |
| Pacific Mutual is a 85% owned subsidiary of PacificMas Berhad and its principal business activities are establishment and management of unit trust funds and asset management business. |
| GELA is principally engaged in the underwriting of life insurance business. |
| None of the directors and substantial shareholders of PacificMas and persons connected to such directors and substantial shareholders has any interest in the abovesaid transaction save for the following :- |
| i) |
OCBC Capital (Malaysia) Sdn Bhd (“OCSB”) is the holding company of PacificMas with 63.50% interest. The holding company of OCSB is Federal Securities Private Limited (“Federal Securities”) and the ultimate holding company of OCSB is Oversea-Chinese Banking Corporation Limited (“OCBC”). OCSB and Federal Securities are wholly-owned subsidiaries of OCBC. |
| ii) |
OCBC is the ultimate holding company and a substantial shareholder of PacificMas and GELA . |
| iii) |
Mr. George Lee Lap Wah, Mr. Daniel Chan Choong Seng, Mr. Jeffrey Chew Sun Teong and Mr. Wong Ah Wah are nominee directors of OCBC on the Board of PacificMas. Each of them has a direct interest of less than 0.003% in OCBC and does not have any equity interest in PacificMas nor GELA . |
| iv) |
Mr. Daniel Chan Choong Seng is also a director of Pacific Mutual and does not have any equity interest in Pacific Mutual. |
|
| The aforesaid transaction is not subject to the approval of the shareholders of PacificMas and the relevant government authorities. |
| This announcement is dated 28 July 2009. |
| |
| Announcement Details : |
| Table A |
Redemption value
(RM) |
Price per unit
(RM) |
13,032,979.28 |
0.6843 |
|
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