Provision of Financial Assistance

NV MULTI CORPORATION BERHAD

Type

Announcement
SubjectProvision of Financial Assistance

Contents :

Provision of Financial Assistance for the first quarter ended 31st March 2005


1. INTRODUCTION

Pursuant to Paragraph 8.23(1)(ii) and practice Note No. 11/2001 of the Listing Requirements of Bursa Malaysia Securities Berhad with regard to the provision of financial assistance, the Board of NV Multi Corporation Berhad ("NV Multi") wishes to announce the following financial assistance provided by its following wholly-owned subsidiary company during the 1st quarter ended 31 March 2005: -

Nirvana Memorial Park (Johor) Sdn Bhd has advanced a total of RM48,000 to its joint-venture partner to jointly develop the land held under Lot 3870-3888, CT.13662-13680, Mukim Jementah, Daerah Segamat, into a non-muslim cemetery, currently known as Nirvana Memorial Park, Segamat.

The Board of Directors of NV Multi is of the opinion that the abovementioned financial assistance transaction is fair and reasonable and is in the best interest of NV Multi.

2. FINANCIAL EFFECTS

2.1 Share Capital

The provision for financial assistance has no effect on the share capital and shareholdings structure of NV Multi for the quarter ended 31 March 2005.

2.2 Earnings

There is no material impact on the earnings of NV Multi Group for the quarter ended 31 March 2005. 2.3 Net Tangible Assets (“NTA”)

There is no material impact on the NTA of NV Multi Group for the quarter ended 31 March 2005.

3. DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTEREST

None of the Directors of NV Multi, substantial shareholders and person connected with Directors and substantial shareholders of NV Multi has any interest, whether direct or indirect, in the provision of financial assistance.

This announcement is dated 30 May 2005


Announcement Info

Company NameNV MULTI CORPORATION BERHAD  
Stock Name NVMULTI    
Date Announced30 May 2005  
CategoryGeneral Announcement
Reference NoNM-050528-44929