Pursuant to Paragraph 8.23(1)(ii) and practice Note No. 11/2001 of the Main 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 wholly-owned subsidiary company during the 3rd quarter ended 30 September 2009 as follows:-
Nirvana Memorial Park (Johor) Sdn Bhd has advanced a total of RM48,000.00 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 transactions are fair and reasonable and are 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 September 2009.
There is no material impact on the earnings of NV Multi Group for the quarter ended 30 September 2009.
2.3 Net Assets ("NA")
There is no material impact on the NA of NV Multi Group for the quarter ended 30 September 2009.
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 24th day of November, 2009