HARN LEN CORPORATION BHD - Announcements - Bursa Malaysia

Notes :
(1) By virtue of his interest in Lian Hup Manufacturing Company Sdn Berhad, Syarikat Senang Oil
Palm Estate Sdn Bhd, Perdana Properties Berhad, Low Nam Hui & Sons Sdn Bhd and LNH
Enterprise Sdn Bhd and the shares held by his sibling, Low Quek Kiong pursuant to Section 6A
of the Companies Act, 1965.
(2) By virtue of his/her interest in Lian Hup Manufacturing Company Sdn Berhad, Syarikat Senang
Oil Palm Estate Sdn Bhd, Perdana Properties Berhad, Low Nam Hui & Sons Sdn Bhd and LNH
Enterprise Sdn Bhd and the shares held by his/her siblings, Dato’ Liew Kuek Hin and Low
Quek Kiong pursuant to Section 6A of the Companies Act, 1965.
(3) By virtue of its interest in Lian Hup Manufacturing Company Sdn Bhd, Syarikat Senang Oil
Palm Estate Sdn Bhd and Perdana Properties Berhad pursuant to Section 6A of the Companies
Act, 1965.
2.2 Nature of Recurrent Related Party Transactions
The Proposed Shareholders’ Mandate will apply to the following transactions:-
i) purchases by Harn Len of FFB from the oil palm plantations owned by
SCSB; and
ii) payment of transportation charges by Harn Len to PLNHSB for the
transportation of FFB to the oil mill, crude palm oil and palm kernel to
buyers, and fertilizer from suppliers to the plantations owned by Harn Len
Group.
SCSB is principally involved in the cultivation of oil palm and PLNHSB is involved
in the provision of transport and workshop services.
The transactions between Harn Len and SCSB involve the purchase of FFB by Harn
Len from oil palm estates operated by SCSB. The FFB will be used as raw materials
for processing at Harn Len’s palm oil mill.
The projected annual transaction values from 23 June 2005, the date of the AGM, to
the next AGM of Harn Len for the purposes of the Proposed Shareholders’ Mandate
is as follows:-
Company Related party Transaction Estimated annual
value
RM’000
Harn Len SCSB Purchases by Harn Len 12,200*
of FFB
Harn Len PLNHSB Payment by Harn Len 1,150*
for transport charges
* The basis of the estimated annual value is based on management forecasts after taking
into account projected average prices for crude palm oil and FFB over the relevant
period.
The transaction values for the financial year ended 31 December 2004 is as follows:-
Company Related party Transaction Actual annual
value
RM’000
Harn Len SCSB Purchases by Harn Len 15,788
of FFB
Harn Len PLNHSB Payment by Harn Len 1,088
for transport charges
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