Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

(i) Recurrent Related Party Transactions
Save as disclosed below, there are no transactions of the Company and/or
its subsidiaries which involve the Directors or substantial shareholders of the
Company and/or subsidiaries during the financial year ended 30 November,
2003:-
Transaction
Value for the
Financial Year
Company in Ended
the Amtel Interested 30 November,
Group Related Related Nature of 2003
Involved Party Party Transaction (RM’000)
Topweb J-Pos Chang Chee Cross selling
Sdn. Bhd. Sdn. Bhd. Seng* of different
("TWSB") ("J-Pos") telecommunication
products for
trading and
distribution 120
Amtel Koid Hung Koid Hun Consultancy fee 36
Industries Kuan Kian**
Sdn. Bhd.
(“AISB”)
* Mr. Chang Chee Seng is a Director and substantial shareholder of TWSB by
virtue of his 49.75% equity interest in TWSB. J-Pos is a 99.99% owned
subsidiary of TWSB. He is deemed a substantial shareholder of J-Pos by virtue
of his indirect equity interest of 99.99% in this company held through TWSB.
** Mr. Koid Hun Kian is the Managing Director and substantial shareholder of the
Company. He is also a Director of AISB. Mr. Koid Hun Kian has a direct equity
interest of 10.69% in the Company, which in turn holds 100% equity interest in
AISB. Mr. Koid Hung Kuan is the brother of Mr. Koid Hun Kian.
The Directors confirmed that the recurrent transactions were conducted at arm’s
length on commercial terms based on prevailing market prices which are not
more favourable to the Related Parties than those extended to the general public
and are not to the detriment of the minority shareholders.
(j) Revaluation of Landed Properties
The Company has yet to adopt a revaluation policy on landed properties.
Amtel Holdings Berhad 2003 annual report 15