In
compliance with Paragraph 3.2 of PN1/2001, Talam wishes to inform on
the status of the various credit facilities in default by the
Company and its subsidiaries to the financial institutions as at 30
June 2009 as detailed in Table A attached hereto which has been
categorized into 6 groups.
With the completion of the
proposals under the Regularisation Plan as approved by the
Securities Commission on 29 April 2008 upon the listing and
quotation of the RCPS, RCSLS-B, RCSLS-C and RCSLS-D on the Main
Board of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 1
July 2009, the Company will be making an application to Bursa
Securities to uplift the Company from the PN17 status. Talam’s
proposed divestment programme, which did not require the approval of
the Securities Commission, is still on-going and the outstanding
defaulted credit facilities will be settled in due
course.
This announcement
is dated 3 August 2009.