Bursa Announcements

Contents :

On 18 November 2004, the Company announced its plan to invest in a new assembly plant in Serendah at an estimated total project cost of RM125 million.

The detailed technical studies and design activities for the new assembly plant were carried out over the last 12 months with the assistance of Nissan Motor Co. Ltd. ("Nissan"). Based on the final plant design and equipment specification, the total project cost for the new assembly plant in Serendah is now estimated at RM191 million. The higher project cost, as compared to the original estimate, is mainly due to:

1. larger built-up area of the plant building to incorporate the latest production method;
2. higher specification of equipment; and
3. inclusion of the cost of peripheral equipment and facilities.

The Group has also agreed, in principle, with Nissan on the new models to be assembled in the new assembly plant targeted to be ready for production in early 2007.