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-110419-44588
Subject	:	Disposal of 30% interest in associated company, Ire-Tex (Xiamen) Plstics Co. Ltd ("ITXP")

Description	:	Subject : Reply to Bursa Query Letter dated 19 April 2011 Disposal of 30% interest in associated company Ire-Tex (Xiamen) Plastics Co. Ltd. ("ITXP") Further to Ire-Tex Corporation Berhad's ("ITCB" or "the Company") 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 Equity Transfer Agreement ("ETA") and the time and place where the ETA may be inspected; Quantification of the disposal consideration in Ringgit Malaysia and the exchange rate used; Basis and justification in arriving at the disposal consideration other than willing seller and willing buyer basis; The net profit and net assets of ITXP based on its latest audited financial statements; The details information of Xiamen Hexing Packaging Printing Co. Ltd. ("XHPP") and HXPP (HK) Co. Ltd. ("HXPP") i.e. the authorised and issued and paid-up share capital, names of the directors and major shareholders and their respecting shareholdings; Further details/ elaboration on the statement "to streamline its business with more focus placed on its core competencies" including but not limited to the business that the Company will focus on; The particulars of liabilities to be assumed by XHPP and HXPP arising from the Disposal; Effects of the Disposal on the Company's net assets per share and its 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; Whether the Disposal is subject to shareholders' approval and the estimated timeframe for submission of the application to the relevant authorities for approval; 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

:

ITXP-Reply to Bursa.pdf

Announcement Details/Table Section