The shares were transferred to Multi-Purpose Credit Sdn. Bhd. ("MPC"), a subsidiary of Multi-Purpose Credit Holdings Sdn. Bhd. ("MPCHSB") which in turn is a subsidiary company of Multi-Purpose Capital Holdings Berhad ("MPCH") on 30 October 2000 arising from a Court Order dated 30 October 1999 which sanctioned the Scheme of Arrangement for the creditors of Pan Malaysia Equities Sdn. Bhd. ("PMESB") :-
a. MPC was one of the creditors of PMESB;
and
b. Pursuant to the terms of the Scheme of
Arrangement for the creditors of PMESB,
MPC became entitled to the shares
MPCH has an indirect interest by virtue of Section 6A(4) of the Companies Act, 1965 held through MPC, a subsidiary company of MPCHSB which in turn is a subsidiary company of MPCH.
Magnum Corporation Berhad has an indirect interest by virtue of Section 6A(4) of the Companies Act, 1965 held through MPCH.
