General Announcement

Reference No TR-991020-58512

Company Name	:	TEXCHEM RESOURCES BERHAD
Stock Name	:	TEXCHEM
Date Announced	:	20/10/1999


Type	:	Announcement
Subject	:	WINDING UP PROCEEDINGS AGAINST SYQUEST TECHNOLOGY (M) SDN. BHD.

Contents :

As announced on November 10 1998 and June 18 1999, Texchem-Pack (Johor) Sdn. Bhd. (formerly known as PKG Plastics Technology Sdn. Bhd.)[hereinafter referred to as "TXPJ"], a wholly-owned subsidiary of Texchem Resources Bhd. had instituted legal proceedings against Syquest Technology (M) Sdn. Bhd.[hereinafter referred to as "Syquest"] to recover an outstanding sum of RM2,094,442.94 and judgement was obtained on March 22 1999 in favour of TXPJ for the said sum plus interest at 8% per annum.

Syquest, however, did not make any payment to-date and the Company had decided to commence winding-up proceedings against Syquest.

A Winding-Up Petition was filed on October 18 1999.