BURSA ANNOUNCEMENTS
Date : 29 September 2010
TALIWORKS CORPORATION BERHAD ("Taliworks" or "the Company") - SIGNING OF CONCESSION AGREEMENT BETWEEN ECO3 TECHNOLOGY AND ENGINEERING PTE. LTD. ("Eco3") AND NINGDONG ENERGY CHEMICAL BASE MANAGEMENT COMMITTEE IN RELATION TO THE NINGDONG ENERGY CHEMICAL BASE MEIHUA INDUSTRIAL PARK PROJECT ("PROJECT")
| TALIWORKS CORPORATION BERHAD |
| Type | Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | NS-100928-52047 |
| Subject | TALIWORKS CORPORATION BERHAD ("Taliworks" or "the Company") - SIGNING OF CONCESSION AGREEMENT BETWEEN ECO3 TECHNOLOGY AND ENGINEERING PTE. LTD. ("Eco3") AND NINGDONG ENERGY CHEMICAL BASE MANAGEMENT COMMITTEE IN RELATION TO THE NINGDONG ENERGY CHEMICAL BASE MEIHUA INDUSTRIAL PARK PROJECT ("PROJECT") |
| Contents | Further to the Company's announcement dated 27 September 2010 in respect of the Project and your letter bearing Ref No. NS-100928-52047 dated 28 September 2010, the Board of Directors of Taliworks is pleased to append herewith the additional information in relation to the above matter for public release:- 1. The construction of the industrial waste water treatment and recycled water plant and the recycled water piping is expected to commence in the final quarter of 2011 or first quarter of 2012 after the approval of construction drawings and approval of the permit for commencement of construction from the relevant authorities are obtained. The construction will take at least twelve (12) months to complete. 2. Taliworks Corporation Berhad (“Taliworks”) proposes to fund its portion of the shareholders’ loan to Eco3 solely from its internally generated funds and therefore no breakdown of the source of funding is provided. 3. Save for the liabilities to be incurred in the ordinary course of business, there are no liabilities, including contingent liabilities and guarantees, to be assumed by Taliworks/Eco3, arising from the Project in accordance with the Concession Agreement. 4. Yes, the Project is subject to the approval of the relevant government authorities in the People’s Republic of China and since the submissions for approval are to various government authorities, there are various time frames for each submission, the earliest submission being the first quarter of 2011 with the final submission in the third quarter of 2011. This announcement is dated 29 September 2010. |
| Query Letter Content | We refer to your Company's announcement dated 27 September 2010 in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1. The expected commenccement and completion date(s) of construction of the industrial waste water treatment and recycled water plant and the recycled water piping. 2. The source(s) of funding for Taliworks Corporation Berhad Group's portion of the shareholders' loan to Eco3 and the breakdown. 3. The particulars of all liabilities, including contingent liabilities and guarantees to be assumed by Taliworks Corporation Berhad ("Taliworks")/Eco3 arising from the Project. 4. Whether the Project is subject to the approval of the relevant government authorities and the estimated time frame for submission of the application to the relevant authorities. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully TAN YEW ENG Head, Issuers Listing Division, Regulation TYE/NZ c.c:- General Manager & Head, Market Surveillance Department, Market Supervision Buisness Group, Securities Commission (via fax) |
Announcement Info
| Company Name | TALIWORKS CORPORATION BERHAD |
| Stock Name | TALIWRK |
| Date Announced | 29 Sept 2010 |
| Category | General Announcement |
| Reference No | CC-100929-6C4E2 |