Contents :

We refer to the letter from Malaysia Securities Exchange Berhad dated 2 March 2004 requesting for the following additional information in relation to Asiatic's announcement dated 17 February 2004 :

(1) Particulars of all liabilities to be assumed by the Company arising from the acquisitions

The total long term loans from licensed financial institutions to be assumed by the Company arising from the Proposed Acquisitions amount to approximately RM2.7 million as at 30 November 2003.


(2) Whether any valuation was carried out on the property and/or land; if so, the name of the independent registered valuer, date and method of valuation and qualification of the market value

The Company has not conducted any valuation exercise on the property and/or land. The purchase consideration for the Proposed Acquisitions is arrived at on a "willing-buyer-willing-seller" basis after taking into account the unaudited net tangible assets of the Vendor Companies as at 30 November 2003 and considering the plantation profile of the oil palm estates as well as the prevailing market prices of agricultural land.


(3) Whether the acquisitions are subject to the approval of shareholders

The Proposed Acquisitions are not subject to the approval of shareholders.

Query Letter content :
We refer to your announcement dated 17 February 2004 in respect of the
aforesaid matter.
In this connection, kindly furnish the Exchange with the following additional
information for public release:

Particulars of all liabilities to be assumed by the Company arising from the
acquisitions;
Whether any valuation was carried out on the property and/or land; if so, the
name of the independent registered valuer, date and method of valuation and
quantification of the market value;
Whether the acquisitions is subject to the approval of shareholders.
Please furnish the Exchange with your reply within two (2) market days from the
date hereof.
Yours faithfully
INDERJIT SINGH
Sector Head
Issues & Listing
Group Regulations
THY