This announcement is dated 10 March 2014.
Reference is made to the Company’s earlier announcements dated 6 March 2014 in relation to the Proposed Private Placement (“Earlier Annoncement”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Earlier Announcement.
On behalf of the Board of Directors of IRIS, AmInvestment Bank Berhad wishes to announce that the components of the working capital as stated in Section 2.6 of the Earlier Announcement would include, but not limited to the following:-
(a) for IRIS’ existing business. IRIS’ existing business, includes, the following segments:-
(i) trusted identification segment such as for the e-Passport and e-Identification Card;
(ii) payment and transportation segment such as the automated fare collection project;
(iii) KOTO Industrialised Building System segment. The IRIS’ KOTO Industrialised Building Systems offers a high speed, fully integrated building system – with pre-fabricated lightweight panels (components) for all parts of the building, including the foundation, wall, ceiling, roofing, columns and beams;
(iv) The food & agro technology and sustainable development segments. The sustainable development mainly refers to projects by IRIS to transform the economic, social and environmental well being of the affected areas for example the Rimbunan Kaseh projects in Pahang and Melaka; and
(v) Environment and renewable energy segment such as Waste-to-Energy Incinerator Plant in Phuket, Thailand and Food Waste-to-Fertilizer Plant in Weinan China.
(b) payment to creditors;
(c) repayment of borrowing for example revolving credit and/or overdraft facility specifically drawn down for working capital purposes; and
(d) operating/ administrative expenses