发表于 25-9-2007 10:45 PM
|Company Name||:||TOP GLOVE CORPORATION BHD |
|Stock Name ||:||TOPGLOV|
|Type||:||Reply to query|
|Reply to Bursa Malaysia's Query Letter - Reference ID||:||IJ-070924-52747|
|Subject||:||Top Glove Corporation Bhd ("the Company")|
- Article entitled : "Coming to grips with gloves"
We refer to your letter of query dated 24 September 2007 in relation to the above article appearing in The Star,Starbiz section, page B3 on Monday, 24 September 2007, to the following statement in the reported article:
"The revised net profit projection pointed to a 29% growth to RM101 mil for the year ended Aug 31, 2007 and 24% growth to RM125 mil in 2008."
The Company would like to inform Bursa Malaysia Securities Berhad ("Bursa Malaysia") that the estimated net profit projection of 29% growth to RM101 million for the financial year ended 31 August 2007 and 24% growth to RM125 million in 2008 as quoted above are the targets set by the Company, based on the Company's intention to grow by approximately 20% to 30% per annum for the financial years 2007 and 2008. These percentages are derived based on the Company’s historical group net income and sales computation based on average growth rate.
As always, the Company intends to maintain its target by increasing the production capacity via the installation of additional advance production lines, moving towards producing more higher value added premium products and adopting efficient marketing and business strategies.
The above-mentioned projected net profit have not been reviewed by any external auditors.
Query Letter content :
We refer to the above article appearing in The Star, Starbiz section, page B3
on Monday, 24 September 2007, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence,
which is reproduced as follows:-
" The revised net profit projection pointed to a 29% growth to RM101mil for the
year ended Aug 31, 2007, and 24% growth to RM125mil in 2008 "
In accordance with Bursa Securities' Corporate Disclosure Policy, you are
requested to furnish Bursa Securities with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentence 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 sentence 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 sentence or any other
part of the above reported article, you are required to set forth facts
sufficient to support the same, including the relevant bases and assumptions in
arriving at the above forecast. In this respect, you are also required to
confirm whether the accounting bases, calculations and assumptions have been
reviewed by the external auditors.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
c.c. En. Chung Tin Fah, Securities Commission (via fax)