Company Name	:	IRE-TEX CORPORATION BERHAD
Stock Name	:	IRETEX
Date Announced	:	21/04/2011

Type	:	Announcement
Subject	:	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS

Description

:

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

Announcement Details/Table Section

Further to Ire-Tex Corporation Berhad's ("ITCB" or "the Company") announcements dated 18 April 2011 and 20 April 2011 ITCB wishes to provide the following additional information : -

1.	The Disposal Consideration was substantially derived on the following basis : -

		RMB
	Net assets of ITXP as at 31 December 2009	9,991,881
	LESS:
	Provision for doubtful debts	153,383
	Provision for obsolescence of inventory	858,204
	Provision for staff bonus	175,553
		8,804,741
	Less : Dividend to be paid before completion of the Disposal	1,458,074
		7,346,667

The 30% proportionate value of ITXP equity based on the above calculation was

RMB7,346,667 x 30% = RMB2,204,000

The agreed Disposal Consideration for the Disposal was RMB2,240,000.

This announcement is dated 21 April 2011.