|NV MULTI CORPORATION BERHAD|
- 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 companies during the 2nd quarter ended 30 June 2004: -
(i) Nirvana Memorial Park Sdn Bhd, has provided financial assistance of RM100,000 to its sub-contractor for the purchase of tomb construction materials.
(ii) 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 30 June 2004.
- There is no material impact on the earnings of NV Multi Group for the quarter ended 30 June 2004
- There is no material impact on the NTA of NV Multi Group for the quarter ended 30 June 2004.
|Company Name||NV MULTI CORPORATION BERHAD|
|Date Announced||30 Aug 2004|