please let go, really don't know what is your motive. do you pity on compugate buyer?

This post has been edited by ABC2020: Jul 21 2009, 12:10 AM

5000 lots throwing appear again...

Type
:
Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID
:
CY-090720-59235
Subject
:

COMPUGATES HOLDINGS BERHAD (“COMPUGATES" or “THE COMPANY”)
- Distributorship Agreement Celcom Prepaid Mobile between Celcom Mobile Sdn Bhd and Compugates Sdn Bhd dated 30 April 2007

Contents
:

Reference is made to Bursa Malaysia Securities Berhad’s letter dated 20 July 2009 and the Company’s announcements made on 16 July 2009 and 17 July 2009, in relation to the termination of the Distributionship Agreement Celcom Prepaid Mobile between Celcom Mobile Sdn Bhd (“Celcom”) and Compugates Sdn Bhd (“CSB”), a wholly owned subsidiary of the Company, dated 30 April 2007 (“Distributorship Agreement”).

Append below are the additional information as requested:-

1. The effective date of the termination of the Distributorship Agreement is 28 July 2009.

2. Celcom is a major supplier of the Compugates Group. Celcom contributed RM337,185,000 in revenue which constitutes 49% of the Company’s revenue in year 2008. However Celcom contributes RM335,000 to the net loss after taxation in year 2008.

3. There were no significant events leading to the service of the notice of termination of the Distribution Agreement by Celcom. Celcom had served the notice of termination pursuant to Clause 15.2 of the Distribution Agreement which provides that “Celcom may terminate this Agreement, without any liability and assigning any reasons whatsoever to the Distributor, by giving the Distributor fourteen (14) days prior written notice.”

4. Based on year 2008 audited financial statements, the financial impact in terms of the effects on earnings per share and net assets per share to the Group are from loss per share of 0.011 sen (rounded up to 0.01 sen as per 2008 audited financial statements) to an earnings per share of 0.004 sen and the net assets per share is RM0.0938 (rounded up to RM0.09 as per 2008 audited financial statements) to RM0.0939, respectively, consequent to the termination of the Distribution Agreement.

5. There will no operational impact to the Compugates Group as the manpower will be utilised for other existing agencies and new activities.

6. There is no expected loss arising from the termination of the Distribution Agreement.

This Announcement is dated 21 July 2009.

Query Letter
content

:

We refer to your Company's announcements dated 16 and 17 July 2009 in respect
of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following
additional information for public release:-

The effective date of the termination of the Distributorship Agreement;
Whether Celcom Sdn Bhd is a major customer/supplier of your Company;
The details of the events leading to the termination of the Distributorship
Agreement;
The financial impact, in terms of effects on earnings per share and net assets
per share, to the Group;
The operational impact to the Group; and
The expected losses, if any.

Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.

Yours faithfully




SUZALINA HARUN
Head, Issuers
Listing Division
Regulation

/WCY

copy to:- Head, Market Surveillance, Securities Commission (via fax)


Our SC pay so much attention to compugate...

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Added on July 21, 2009, 6:35 pm“Celcom may terminate this Agreement, without any liability and assigning any reasons whatsoever to the Distributor, by giving the Distributor fourteen (14) days prior written notice.”


is that mean no compensation?

This post has been edited by ABC2020: Jul 21 2009, 06:35 PM