PROPOSED DISPOSAL OF BUS RELATED ASSETS OF EURO TRUCK & BUS (MALAYSIA) SDN BHD AND INTRAKOTA KOMPOSIT SDN BHD AND CERTAIN OF ITS SUBSIDIARY COMPANIES TO SYARIKAT PRASARANA NEGARA BERHAD
COMPLETION DATE OF THE SALE & PURCHASE AGREEMENT
With reference to the earlier announcement dated 29 October 2003 on the above matter, the Board of Directors of DRB-HICOM (“The Board”) wishes to announce that the Sale and Purchase Agreement dated 29 October 2003 (“SPA”) has been completed on 5 May 2004.
Pursuant to the completion of the SPA, the Board also wishes to announce that Intrakota Consolidated Berhad (“ICB”) a subsidiary of Intrakota Komposit Sdn Bhd had on 5 May 2004 entered into an Interim Operations & Maintenance Arrangement (“Interim O&M”) with Syarikat Prasarana Negara Berhad (“SPNB”) to operate the bus related assets.
ICB will operate and maintain the bus related assets on behalf of SPNB until the Long Term Operations & Maintenance Agreement comes into effect. The Interim O&M, however, shall not exceed beyond 31 December 2004, unless otherwise mutually agreed in writing between ICB and SPNB.
c.c. Issues and Investment Division
Fax No. : 03-62015213
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