General Announcement
Reference No CF-990708-54375

Company Name
:
MINTYE INDUSTRIES BHD  
Stock Name
:
MINTYE  
Date Announced
:
08/07/1999  

Type:Reply to query
Reply to Query Letter by KLSE reference ID:LHY/SR/HTH/MF/LD8/99
Subject:YEAR 2000 (Y2K) DISCLOSURE BY PUBLIC LISTED COMPANIES ("PLC")

Contents :



YEAR 2000 (Y2K) DISCLOSURE BY PUBLIC LISTED COMPANIES

1. Details of your company and subsidiaries' progress in relation to its activities to address the Y2K issue.

Y2K Ready

Non Y2K Ready X

Description of Non Y2K System
Criticality of system (critical or not critical)
Status of readiness (at which state & percentage of completion)
Estimated date being Y2K Ready
Remarks
Accounting
Not Critical
Hardware 100%
Software 75%
September 1999
-
Manufacturing
Not Critical
100%
Ready
Production lines are not computerised

2. The impact of Y2K issue if your company and/or subsidiaries fail to be Y2K Ready or are unable to achieve full readiness by estimated date(s) mentioned above.

No Impact X

Yes

We are running the new system parallel with the old system and should the new system fail, we have contingency plan that enables us to revert back to manual system.

3. The exposure of your company and/or subsidiaries to third parties who have material business relationships with your company or subsidiaries in relation to the third parties' Y2K readiness.

No exposure X

Yes

The company's computer system is not interfaced with third parties. We have assessed the supply chains and customers and the main parties have assured us that they should be Y2K compliant by the year-end 1999 and they are fully aware of the problem. As contingency plan, we intend to build up additional stocks should disruption occur.

4. The total cost your company and subsidiaries have incurred or is expected to incur to address the Y2K issue.

Approximately RM 300,000.00

5. Describe your company and subsidiaries' contingency plans in relation to the Y2K issue to ensure continued operations.

No contingency plans

Yes X

We intend to keep all transactions/movements updated a few days before the year end and at the same time maintain a parallel manual system so that in the event of disruption, the records are still up to date and intact, and for supplies, we intend to build up additional stocks.


Yours truly
MINTYE INDUSTRIES BHD



Foong Kai Ming
Company Secretary

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