Provision of financial assistance for the second quarter ended 30 June 2006
|NV MULTI CORPORATION BERHAD|
|Subject||Provision of financial assistance for the second quarter ended 30 June 2006|
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 2nd quarter ended 30 June 2006: -
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 2006.
There is no material impact on the earnings of NV Multi Group for the quarter ended 30 June 2006.
2.3 Net Assets ("NA")
There is no material impact on the NA of NV Multi Group for the quarter ended 30 June 2006.
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 29 August 2006.
|Company Name||NV MULTI CORPORATION BERHAD|
|Date Announced||29 Aug 2006|