BINA GOODYEAR BERHAD ("BGB" or "the Company")
- ARTICLE ENTITLED: "INDIAN DEVELOPER EYES STAKE IN BINA GOODYEAR."
We hereby confirm having announced at the Thirty-third (33rd) Annual General Meeting ("AGM") on 13th December 2007, that the Turnover for the financial year ended 30 June 2008 and 2009 is expected to be maintained in the region of RM300 million.
This comment was made in view of the announcement at the said AGM that the company has a current order book of RM1.2 billion with outstanding contracts valued at over RM900 million to be completed over the next 2 to 3 years.
We also confirm having commented that an Indian property developer has expressed interest in buying a stake in the company. As mentioned in several previous Quarterly Announcements on expanding our construction activities overseas, we had initial talks with this developer with regards to our overseas expansion to India. The expression of interest in acquiring a stake in the company was on of the means put forward to tie up the joint venture.
The Board of Directors are aware of the above.
