Satisfaction of the purchase consideration and part settlement of the inter-company advances made by Arab-Malaysian Corporation Berhad ("AMCORP") to Arab-Malaysian Corporation Industrial City Sdn. Bhd. by way of issuance of shares of RM0.50 each of AMDB Berhad to AMCORP and Megatime Enterprise Sdn. Bhd., a wholly-owned subsidiary of AMCORP, upon completion of the Share Sale Agreement and Sale and Purchase Agreement both dated 20 June 2002.
Deemed interest arises by reason of being a substantial shareholder of AMCORP.