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Alenia Aeronautica and MAS Aerospace Engineering ("MAE") Seal a Joint Venture Agreement for Turboprop MRO

BackJun 19, 2009

General Announcement
Reference No MA-090619-44173

 

Company Name
:
 MALAYSIAN AIRLINE SYSTEM BERHAD  
Stock Name
:
 MAS  
Date Announced
:
 19/06/2009  


Type
:
 Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID
:
 NM-090618-56332
Subject
:
Alenia Aeronautica and MAS Aerospace Engineering ("MAE") Seal a Joint Venture Agreement for Turboprop MRO

Contents
:
We refer to the query by Bursa Malaysia vide their letter dated 18 June 2009 on the above matter and wish to update as follows :-

(1) The breakdown of total investment in the first subscription of the JV shall be RM100, RM51 from MAE and RM49 from Alenia Aeronautica S.p.A. The first subscription is expected to take place in the next few weeks.

(2) The eventual issued and paid-up capital of MAAE is not yet determined at this stage and is dependent on the business plan to be tabled and approved by its Board of Directors. The shareholding structure shall remain 51% by MAE and 49% by Alenia Aeronautica S.p.A.

(3) The type of share shall be ordinary share of RM1 par value. In the first subscription, the number of ordinary shares to be issued shall be 100.

(4) The source of funds from MAE and Alenia Aeronautica S.p.A. shall be from the respective company's internal funds.

Query Letter
content
:
We refer to your announcement dated 17 June 2009 in respect of the above matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
The breakdown of MAE's total capital and investment outlay in the
joint-venture.
The eventual issued and paid-up capital of MAS-Alenia Aeronautica Aerospace
Engineering ("MAAE").

3. The number, type and par-value of the shares of MAAE. Where there is more
than one type of shares or securities issued, the following :-
a) the differences between the different type of shares;
b) whether convertible; if so, the rate and period thereof;
c) whether redeemable; if so, the rate and period thereof; and
d) the tenure.

4. The source(s) of funds for financing the investment in MAAE, and the
breakdown thereof.

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

Yours faithfully


TAN YEW ENG
Head, Issuers
Listing Division
Regulation

TYE/NMA
c.c:- Head, Market Surveillance Department, Market Supervision Division,
Securities Commission (via fax)