Type : Announcement
Subject : Proposed issuance of up to 142,000,000 ordinary shares of RM0.10 each in Key ASIC Berhad (“Key ASIC” or “Company”) representing approximately 15% of the enlarged issued and paid-up share capital of Key ASIC ("Proposed Share Issuance") to facilitate the proposed sponsorship of a depository receipt programme in Taiwan by Key ASIC (“Proposed TDR Programme”)



Contents : We refer to the announcement dated 26 November 2009 in relation to the Proposed Share Issuance and the Proposed TDR Programme. On behalf of the Board of Directors of Key ASIC, Public Investment Bank Berhad wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letters dated 14 December 2009 (which was received on 15 December 2009), rejected the following applications by the Company in relation to the Proposed TDR Programme:

(a) application for waiver from compliance with paragraph 8.12(b) of the Main Market Listing Requirements (“LR”) which restricts the underlying securities at any time to not more than 5% of the total issued and paid-up share capital of the Company; and

(b) application for waiver from compliance with paragraphs 6.12 of the LR which requires the principal adviser to act as the placement agent, and 6.15 of the LR which requires submission by the principal adviser of information regarding the placees and relevant confirmation to Bursa Securities.

In addition, the Company had withdrawn its application for extension of time to comply with paragraphs 6.09 and 6.13 of the LR.

The Board of Directors of Key ASIC will deliberate on the matter and an appropriate announcement will be made in due course.

This announcement is dated 15 December 2009