directors - The Lion Group

NOTES TO THE FINANCIAL STATEMENTS
1. GENERAL INFORMATION
The Company is a public limited liability company, incorporated and domiciled in Malaysia, and listed on the
Main Board of Bursa Malaysia Securities Berhad.
The Company’s principal activities are investment holding and property development.
The principal activities of the subsidiary companies are disclosed in Note 47.
There have been no significant changes in the nature of the activities of the Company and of its subsidiary
companies during the financial year other than as dislosed in Note 2.
The total number of employees of the Group and of the Company as of 30 June 2005 were 5,164 (2004: 5,996)
and 48 (2004: 54) respectively.
The registered office of the Company is located at Level 46, Menara Citibank, 165 Jalan Ampang, 50450 Kuala
Lumpur.
The principal place of business of the Company is located at Level 13-14, Menara Citibank, 165 Jalan Ampang,
50450 Kuala Lumpur.
2. SIGNIFICANT CORPORATE EVENTS
(a) On 20 August 2004, Lion Klang Parade Bhd (“LKP”), a wholly-owned subsidiary company of the Company,
accepted a letter of offer dated 11 August 2004 from TMW Lion GmbH (“Purchaser”), a wholly-owned
subsidiary company of TMW Asia Property Fund I GmbH and Co KG, a German closed-end property fund
for institutional investors, for the proposed disposal of its investment property comprising a shopping complex
known as Klang Parade for a cash consideration of RM107.651 million.
Subsequently on 8 November 2004, the Company entered into a share sale and purchase agreement with
the Purchaser for the proposed disposal of LKP. The disposal is for a cash consideration of RM1.00 for the
entire 100% equity interest in LKP and upon completion, the Purchaser will assume and pay the intercompany
balances owing by LKP to the Group, to be computed based on the gross acquisition value of the
property of RM109.642 million adjusted for the net trade assets and liabilities to be assumed by the Purchaser.
The disposal of LKP was completed on 21 February 2005 and the Purchaser assumed and paid RM105.687
million inter-company balances owing by LKP to the Group.
(b) On 15 September 2004, the Company announced the proposed issuance of RM500 million Bai’ Bithaman
Ajil Islamic Debt Securities (“BaIDS”) by Antara Steel Mills Sdn Bhd (“Antara”), a wholly-owned subsidiary
company of Amsteel Mills Sdn Bhd (“AMSB”), which is in turn a 99% owned subsidiary company of the
Company.
The proceeds from the issuance of BaIDS will be utilised to part finance the acquisition of the Labuan
operations from AMSB, to upgrade the existing plant of the Antara and Labuan operations and for working
capital purposes.
The BaIDS were issued on 30 August 2005.
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