General Announcement
Reference No MI-120223-60275

Submitting Merchant Bank
:
MAYBANK INVESTMENT BANK BERHAD
Company Name
:
MMC CORPORATION BERHAD
Stock Name
:
MMCCORP
Date Announced
:
23/02/2012


Type
:
Announcement
Subject
:

OTHERS

Description
:

MMC CORPORATION BERHAD (“MMC”)

EXECUTION OF THE AGREEMENT FOR SALE AND PURCHASE OF DRY GAS BETWEEN GAS MALAYSIA BERHAD (“GMB”) AND PETROLIAM NASIONAL BERHAD (“PETRONAS”)


Announcement Details/Table Section :


INTRODUCTION

We refer to our announcement dated 10 October 2011 in relation to the proposed listing of GMB on the Main Market of Bursa Malaysia Securities Berhad.

On behalf of the Board of Directors of MMC, Maybank Investment Bank Berhad is pleased to announce that GMB had on 23 February 2012 entered into a new agreement for the sale and purchase of dry gas (“GSA”) with PETRONAS for the supply of up to 534,143 Gigajoule (which is equivalent to 492 million standard cubic feet per day (MMScfd)) of dry gas from PETRONAS.

The tenure of the GSA is for a period of ten (10) years, commencing from 1 January 2013 until 31 December 2022 with the option to extend for another five (5) years, subject to terms and conditions to be mutually agreed by both parties.

This GSA will replace the existing gas supply agreement which will expire on 31 December 2012.

EFFECTS OF THE GSA

The execution of the GSA is expected to contribute positively to the future earnings of MMC Group.

The execution of the GSA is not expected to have any effect on the issued and paid-up share capital and substantial shareholders’ shareholdings of MMC and is not expected to have any material effect on the net assets per share as well as the gearing of MMC Group.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST

None of the Directors and/or major shareholders of MMC and/or persons connected to them have any interest, direct or indirect, in the GSA.

This announcement is dated 23 February 2012.

after this....the Gas Malaysia IPO can finally get moving...but not sure what is other outstanding issue need to be addressed...

Q4, 2012 la. So you got 10 months to prepare for it.

GOGOGO Felda

thanks for the info zamans98.....yea...10 months to prepare my funding....perhaps IPO financing for this one...but dunno worth to go for financing or not...

Sounds good ..must buy !!

still delayed?? so long yea

Gas Malaysia seeks 6-month extension until Oct 6 for listing

URL: http://www.theedgemalaysia.com/business-ne...or-listing.html

MITI result is out today. Will it be listed in June same as FGV?
Will the stock mkt hold?

roughly when will felda miti shares result out?

i got 9600 units.

how much it's ?
good to hold ?

good to you, i already check, unfortunately didnt get any.

my company got around 45k units @ rm2.20
sounds good for first day play ;D

I heard Gas IPO can start buying already right?

Just saw the news.

Not Yet...Prospectus will be launced on this coming Friday 18 May 2012 for public portion..maybe closing 25 May2012..Listing 11 June 2012.

confirm?if so need to keep money for this instead of pestech.

33,000 units

Congratz,i think you use 2 acc to apply,each got 16500 right?

I got myself 16500 units How far is the price you guys think can go?

SOrry i am rather confuse. so when can start apply or already closed?