English

MSWG’S QUICK TAKE ON-ONGOING CORPORATE DEVELOPMENTS

MASTER-PACK GROUP BERHAD (“MPB”) / GLOBETRONICS TECHNOLOGY BERHAD (“GTB”)
As reported in the media on 31 March 2017, the Malaysian Anti-Corruption Commission (MACC) has remanded MPB’s Group Executive Chairman Dato’ Syed Mohamad Bin Syed Murtaza for investigations involving Yayasan Bumiputra Pulau Pinang Bhd, which is one of the major shareholders of MPB. Datuk Syed Mohamad is also an Independent Non-Executive Director in GTB.

MSWG’S COMMENTS:
Both MPB and GTB in their announcements made on 31 March 2017 stated that the remand of Dato’ Syed Mohamad by MACC would not or not be expected to have any operational, business or management impact on their companies. We hope that Dato’ Syed Mohamad would voluntarily take a temporary leave of absence amid the MACC’s investigation.

31 March 2017

VOICE OF MSWG

SUITABILITY OF VENUE FOR AGM

In view of the mandatory poll voting, we hope companies will look into suitable venue to cater for large crowd of shareholders, especially if the companies wish to distribute door gift after the vote is casted. Perhaps this arrangement is made to encourage the shareholders to exercise their rights to vote at the AGM.

MSWG’S WATCHLIST

AXIATA GROUP BERHAD (“AXIATA”)

Bursa Malaysia had on 21 March 2017 queried Axiata on the article posted by the Star online on 18 March 2017 in relation to the potential merger of TM-Axiata. Axiata had responded that the article was speculative in nature and it would not comment on any speculations or rumours. In the event there is any material information regarding the company, Axiata will make the necessary disclosure in accordance with the Main Market Listing Requirements of Bursa Malaysia.