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Further to Bursa Malaysia Securities Berhad's query on the article in the Financial Daily dated 25 August 2010, specifically on the following paragraphs:-
(1) "Its managing director Mark Ding also said XiDeLang was targeting a net profit growth of 'not less than 20%' in FY10 and FY11."; and
(2) "On another matter, the company is planning to expand its production facilities to France and is currently in preliminary talks to acquire a controlling's stake in a factory in France."
the Company wishes to clarify that:-
(1) the net profit growth of 'not less than 20%' in the financial years ending 31 December 2010 and 2011 as quoted in the article is an internal target and aspiration set to be achieved by the Company. Thus, it does not tantamount to profit projection; and
(2) one of XiDeLang's customers has proposed to Management to expand the production facilities of the Company to France as the French government has encouraged foreigners to build plants and will subsidise the factory. However, there is no preliminary talks to acquire a controlling's stake in a factory in France. The Board and Management will continue to explore business opportunities and will evaluate them accordingly. The Company will then make the appropriate announcement in a timely manner in accordance with the Listing Requirements. |
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