Corporate Guarantee

7064

Type	:	Announcement
Subject	:	Writ of Summons - Penang High Court, Civil Suit No.: 22-752-2009
Contents	:	The Board of Directors of Hock Lok Siew Corporation Bhd. ("HLSCORP" or "the Company") wishes to announce that on 6 January 2010, the Company had been served with a Writ of Summons dated 30 November 2009 in respect of a suit filed by Malayan Banking Berhad ("Maybank") through a firm of lawyers acting on behalf of Maybank for failure to repay Maybank the total sum of RM31,114,10184 with interest as agreed on 1 March 2009 until full payment is made, of which was the amount provided by the corporate guarantee of which the Company has no knowledge or records thereof. HLSCORP, Lai Chu Thiam, Lai Lai Thiam, Tang Ah Bah @ Tang Teng Heng and Lai Chew Hock were named First, Second, Third, Fourth and Fifth Defendent respectively by Maybank as Plaintiff, claiming the following:- (a) Repayment of sums of RM31,155,394.89; (b) Interest claimed at the rate of 2.75% per annum daily rest calculated on base lending rate amounting to RM2,000,394.89 and will be calculated from 1 June 2009 until full payment is made; (c) Interest claimed at the rate of 2.25% per annum daily rest calculated on base lending rate amounting to RM25,200,000 and will be calculated from 1 June 2009 until full payment is made; (d) Interest claimed at the rate of 0.80% per annum daily rest calculated on base lending rate amounting to RM3,955,000 and additional interest of 1% on the overdue instalment and will be calculated from 1 June 2009 until full payment is made; (e) Cost; and (f) Other reliefs and damages deem fit by the court. HLSCORP is exposed to the losses resulted from the above claim, interest and legal cost in respect from the Writ of Summons. The amount involved is expected to have a major impact on HLSCORP Group's cash flow position. The Company is in the midst of taking legal advice from its solicitors with regards to the above suit and will instruct its solicitors to vigorously defend the same as the Company has no knowledge and records that the corporate guarantee had been extended to Maybank.
Announcement Details : This announcement is dated 6 January 2010.

7064

如同以上的案例，之前的上市公司董事在没有通过正常的上市公司程序(eg:EGM)，和做假文件(eg.Company resolution & Company Secretary's signature)，向外面没有关联的公司给Corporate Guarantee。
类似的案例常见，请问各位的看法和以后这个case的发展.
谢谢。。。

7064

Type	:	Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID	:	NE-100205-53507
Subject	:	Writ of Summons- Penang High Court, Civil Suit No.: 22-752-2009
Contents	:	Reference is made to the query from Bursa Malaysia Securities Berhad dated 5 February 2010 on our announcement dated 4 February 2010 in respect of the above matter.
Query Letter content	:	We refer to your announcement dated 4 February 2010 in respect of the above matter. In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa Securities") with the following additional information for public release:- Date of execution of the Corporate Guarantee ("CG"); Nature and details of the CG; Authorised signatory of the CG and the nature of his/ her relationship with your Company; Details of the extract resolution as provided by the bank; and Clarification on the statement that "the alleged resolution is forged and fraudulent" and the basis in making such claim. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully CHONG FUI TZY Head, Issuers Listing Division Regulation HTH/NAE c.c. Head, Market Surveillance, Securities Commission (via fax)
Announcement Details : The Board of Directors of Hock Lok Siew Corporation Bhd. (formerly known as Foremost Holdings Berhad) ("HLSCORP" or "the Company") wishes to furnish the following additional information for public release: 1. The date of execution of the alleged Corporate Guarantees ("CG") were on 26 May 2005. 2. The alleged CG were in favour of loan granted to Tong Giap Feedmills Sdn. Bhd. 3. There was no authority given to anyone to sign the alleged CG. However, the alleged CG contained the name of Lai Lai Tiam and Ong Wee Meng, who were the directors at that material time, but we are not aware whether Lai Lai Tiam and Ong Wee Meng created the alleged CG or not. 4. The said extract resolution was allegedly signed by Chan Eoi Leng and Ong Wee Meng. However, the Company Secretary, Chan Eoi Leng had lodged a police report claiming that her signature was forged and the contents were also doctored. 5. Based on the fact that the signature was forged and the contents were also doctored, the said alleged resolution is forged and fraudulent. This announcement is dated 8 February 2010.

7064

Type	:	Announcement
Subject	:	Writ of Summon- Penang High Court, Civil Suit No.: 22-752-2009
Contents	:	We refer to our announcements dated 6 January 2010, 8 January 2010, 4 February 2010 and 8 February 2010.
Attachments	:	Extract Resolution.pdf
Announcement Details : The Board of Directors of Hock Lok Siew Corporation Bhd. (formerly known as Foremost Holdings Berhad) ("HLSCORP" or "the Company") wishes to provide further clarification as follows: 1. There was no business relationship between HLSCORP and Tong Giap Feedmills Sdn. Bhd. as at the date of the alleged Corporate Guarantees. 2. To the best knowledge of HLSCORP, the companies in which Lai Lai Tiam and Ong Wee Meng held directorship and the date they ceased to be the director are as follows: a) Lai Lai Tiam Name of the Company Designation Date Appointment/ Resignation/ Retirement/ Ceased Hock Lok Siew Corporation Bhd. (formerly known as Foremost Holdings Berhad) Executive Director Appointed wef 10-11-2004 Resigned on 25-07-2006 Foremost Audio Sdn. Bhd. - - HLS Manufacturing & Trading Sdn. Bhd. (formerly known as Fomak Marketing Sdn. Bhd.) - - HLS Properties Sdn. Bhd. (formerly known as Vintage Consortium Sdn. Bhd.) - - b) Ong Wee Meng Name of the Company Designation Date Appointment/ Resignation/ Retirement/ Ceased Hock Lok Siew Corporation Bhd. (formerly known as Foremost Holdings Berhad) Executive Director Non Independent & Non Executive Director Appointed wef 18-04-2005 Retired on 27-06-2005 Appointed wef 12-08-2005 Resigned wef 28-08-2006 Foremost Audio Sdn. Bhd. Company Director Appointed wef 24-11-2005 Resigned wef 29-05-2006 HLS Manufacturing & Trading Sdn. Bhd. (formerly known as Fomak Marketing Sdn. Bhd.) - - HLS Properties Sdn. Bhd. (formerly known as Vintage Consortium Sdn. Bhd.) - - 3. We refer to the alleged extract resolution provided by the bank as attached. The Company confirmed that there was no such resolution passed by the Board of Director on 19 May 2005, as such the said alleged extract resolution is forged and fraudulent. 4. Chan Eoi Leng was the company secretary of HLSCORP, Foremost Audio Sdn. Bhd., HLS Manufacturing & Trading Sdn. Bhd. and HLS Properties Sdn. Bhd.. She resigned on 31 January 2006. She lodged the police report in relation to the said extract resolution on 10 April 2009. This announcement is dated 9 February 2010.