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The
article appearing in the New Straits Times, BIZNEWS on 21 March 2007 is
referred.
We wish to confirm that the proposed listing of the toll concession unit on
the Mumbai Stock Exchange is merely one of the alternatives being considered
in the light of overall Group strategy of refinancing and optimising assets
utilisation.
The proposed listing of the property and construction business is also part
of the Group’s ongoing strategy to maximise returns and shareholders’ value.
The nature of the corporate exercise to be undertaken, with regard to
divisional functionality or geographical location, and its timing, is still
being contemplated and is subject to the approval of the Board of Directors.
The Company has been invited informally and on a very preliminary basis by
MMC Corporation Berhad to merely explore the possibility of participation as
a contractor in the development of the Economic City in Saudi Arabia.
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