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Reference No: PP-090216-58102 |
| Company
Name |
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PACIFICMAS BERHAD |
| Stock
Name |
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PACMAS |
| Date
Announced |
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16/02/2009 |
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| Type |
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Announcement |
| Subject |
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PACIFICMAS BERHAD (“PacificMas” or “the Company”)
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PROPOSED INTERNAL RESTRUCTURING OF THE GROUP'S ASSET MANAGEMENT BUSINESS ("Proposed Internal Restructuring") |
| Contents |
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| Further to the Company's announcement on 19 December 2008 in relation to the Proposed Internal Restructuring, the Company wishes to announce that on 16 February 2009, the Securities Commission has approved the Proposed Internal Restructuring via the transfer of PacificMas Asset Management Sdn Bhd’s entire business (excluding liquid assets consisting of investment in unit trusts, deposits with financial institutions, cash and bank balances, dividend receivable and interest receivables from all the aforesaid) to Pacific Mutual Fund Bhd pursuant to Section 139 of the Capital Markets and Services Act, 2007 (”CMSA”). |
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| Application to High Court for an order under Section 139 of CMSA is targeted to be submitted to the High Court by end of February 2009. |
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| This announcement is dated 16 February 2009. |
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