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We refer to our circular issued on 4 November 2009, the shareholders’ mandate for RRPT obtained on 26 November 2009 and our announcements made on 15 October 2010 and 22 October 2010 in relation to the deviation between the estimated and actual RRPT value.
For the period from 27 November 2009 to 24 November 2010 (date of the 40th Annual General Meeting of the Company), the actual storage rentals paid by Dynamic Chemical Trading Pte Ltd (“DYM”) to Sinsenmoh Transportation Pte Ltd amounted to RM178,457, an increase of RM26,509 to the actual expenses incurred of RM151,948 disclosed in the announcement made on 22 October 2010. This represents a further deviation of 22.1% (total deviation of 48.7%) between the estimated amount of RM120,000 and actual RRPT value.
The deviation is due to increase in inventories kept in drums to meet export and local sales requirements of DYM.
This announcement is dated 17 December 2010. |
17/12/2010