HUP SENG INDUSTRIES BERHAD ("HUP SENG" or "the Company") Proposed Acquisition Of 2,313,000 Ordinary Shares of RM1.00 Each Representing 100% Equity Interest in In-Comix Food Industries Sdn Bhd ("In-Comix") For A Cash Consideration Of RM22,000,000 ("Proposed Acquisition")

HUP SENG INDUSTRIES BERHAD

Type

Announcement
SubjectHUP SENG INDUSTRIES BERHAD ("HUP SENG" or "the Company")
Proposed Acquisition Of 2,313,000 Ordinary Shares of RM1.00 Each Representing 100% Equity Interest in In-Comix Food Industries Sdn Bhd ("In-Comix") For A Cash Consideration Of RM22,000,000 ("Proposed Acquisition")

Contents :

1. INTRODUCTION 2. DETAILS OF THE PROPOSED ACQUISITION 2.1 Basis of Arriving at the Purchase Consideration
2.2 Liabilities to be Assumed 2.3 Source of funding
2.4 Salient Terms of SPA 2.5 Background Information on In-Comix 3. RATIONALE FOR THE PROPOSED ACQUISITION 4. PROSPECT AND RISK OF THE PROPOSED ACQUISITION 4.1 Prospect 4.2 Risk factors (i) Business risk (ii) Competition
5. EFFECTS OF THE PROPOSED ACQUISITION
5.2 Earnings 5.3 NTA 6. CONDITIONS OF THE PROPOSED ACQUISITION 7. DIRECTORS’ AND SUBSTANTIAL SHAREHOLDERS’ INTERESTS 8. DIRECTORS’ STATEMENT 9. ESTIMATED TIME FRAME FOR THE COMPLETION
10. DOCUMENTS FOR INSPECTION This announcement is dated 3 March 2005.
Table 1.docTable 2.doc

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Announcement Info

Company NameHUP SENG INDUSTRIES BERHAD  
Stock Name HUPSENG    
Date Announced3 Mar 2005  
CategoryGeneral Announcement
Reference NoOS-050303-51002