Bakun Hydroelectric Project

Aug 19, 2002
Date Announced
:
19/08/2002  

Type : Reply to query
Reply to Query Letter by KLSE reference ID : KM-020816-56606
Subject : BAKUN HYDROELECTRIC PROJECT


Contents :

We refer to KLSE’s query dated 16 August 2002 bearing reference KM-020816-56606 and in reply thereto, we wish to make the following announcement.

The Company is a member of a consortium led by Cahya Mata Sarawak Bhd (CMSB). The other members of the consortium are Hyundai Engineering & Construction Co., Ltd. and Alstom Power. The consortium submitted a tender to bid for the main civil works for the project known as Bakun Hydroelectric on 12 June 2002.

Todate the consortium have not been informed and is not aware of any decision on the outcome of the bid. As far as the Company is aware, no decision has been made yet regarding the award.

The Company will make the appropriate announcement for immediate public release to the KLSE should there be further progress.

This announcement is dated 19 August 2002.




Query Letter content :
We refer to the above article appearing in The Malay Mail, Mail Money, page 27
on Friday, 16 August 2002, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-

"CMSB had tendered for the project as lead partner via a consortium which
includes Gamuda Bhd..."
"...it was decided that the contract, said to be worth about RM1.5 billion,
would be awarded to the consortium led by CMSB."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentences after due and diligent enquiry with all the directors,
major shareholders and all such other persons reasonably familiar with the
matters about which the disclosure is to be made in this respect. In the event
you deny the above sentences or any other part of the above reported article,
you are required to set forth facts sufficient to clarify any misleading
aspects of the same. In the event you confirm the above sentences or any other
part of the above reported article, you are required to set forth facts
sufficient to support the same.


Please furnish the Exchange with your reply within one (1) market day from the
date hereof.

Yours faithfully


INDERJIT SINGH
Senior Manager
Listing Operations
WSW/CKM
Copy to : Securities Commission (via fax)