General Announcement

Reference No CC-110420-62483

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

20/04/2011

Type

:

Reply to query

Reply to Bursa Malaysia's Query Letter - Reference ID

:

NE-110419-46036

Subject

:

Disposal of 49% interest each in two subsidiary companies, Eppor-Pack Sdn Bhd ("EPSB") and Powertude Sdn Bhd ("PTSB") by Ire-Tex Corporation Berhad

Description

:

Subject : Reply to Bursa Query Letter dated 19 April 2011
Disposal of 49% interest each in two subsidiary companies, Eppor-Pack Sdn. Bhd. ("EPSB") and Powertude Sdn. Bhd. ("PTSB"), by Ire-Tex Corporation Berhad ("ITCB" or "the Company")

Further to the Company's announcement dated 18 April 2011 and Bursa Malaysia Securities Berhad's letter dated 19 April 2011, ITCB wishes to provide additional information. Please refer to the attached file for details.

This announcement is dated 20 April 2011

Query Letter
content

:

We refer to the Company's announcement dated 18 April 2011, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:-

Salient features of the agreement and the time and place where the agreement may be inspected;
The details information of Renotex Group Ltd ("Renotex") i.e. the principal activities, names of the directors and major shareholders and their respecting shareholdings;
The particulars of liabilities to be assumed by Renotex arising from the Disposal;
The rationale/ reason for disposing only 49% interest each of EPSB and PTSB, given that both EPSB and PTSB will still be subsidiaries of the Company after the Disposal and that the results of EPSB and PTSB will be consolidated with the Group;
Effect of the Disposal on the Company's gearing (if any);
The details breakdown for the proposed utilisation of the proceeds under working capital and the estimated timeframe for full utilisation of the proceeds; and
The estimated timeframe for completion of the Disposal.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

HENG TECK HENG
Head, Issuers
Listing Division
Regulation

IJ/NAE

copy to:- General Manager & Head, Market Surveillance, Securities Commission (via fax)

Attachments

:

EPSB & PTSB-Reply to Bursa.pdf

Announcement Details/Table Section