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Reply to query |
Reply to Bursa Malaysia's
Query Letter - Reference ID |
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PY-090504-52485 |
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| OUTSOURCING SERVICE AGREEMENT BETWEEN VITROX CORPORATION BERHAD (VITROX or COMPANY) AND AGILENT TECHNOLOGIES (AGILENT) (CONTRACT) |
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We refer to the announcement dated 30 April 2009 and the letter of query from Bursa Malaysia Securities Berhad dated 4 May 2009 requesting the Company to provide the following additional information in relation to the Contract:-
1. The Value of Contract
Pursuant to the Master Services Agreement (“MSA”) signed between ViTrox and Agilent, the Company is bound by a clause which stated that parties to the MSA are not to disclose any financial information of the contract to the Public. The purpose of the announcement is merely to synchronize with the news published by Agilent in their web site on 30 April 2009. For further details, please refer to Agilent’s website:
http://www.ate.agilent.com/PCB_Test/ENT_All/Inspection/
2. The Tenure of the Contract and Renewable of Contract
The Contract is a normal service contract, which is not renewable, but with a commencement date of 1 May 2009 and a completion date of 30 April 2011 spanning over a period of 24 months.
3. The Financial Effects of the Contract on ViTrox Group
The Company is bound by a clause not to disclose any financial-related information about the Contract to Public pursuant to the MSA as mentioned above.
4. The Directors and/or major shareholders and/or persons connected with a director or major shareholder have any interest, direct or indirect, in the Contract, and the nature and extent of their interests.
None of the Directors and/ or major shareholders of ViTrox and/ or persons connected with such Directors or major shareholders have any interest, direct or indirect with the above Contract.
5. The risk in the relation to the Contract
The Contract is a service contract, the business risks in relation to the Contract is the availability of resources ie. labour and material.
The Company is of the opinion that the risks attached to the Contract is manageable and is within the inherent risks attached to such service contract which are within the day-to-day and ordinary activities of the Company.
This announcement is dated 5 May 2009. |
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We refer to your announcement dated 30 April 2009 in respect of the aforesaid
matter.
In this connection, kindly furnish the Exchange with the following additional
information for public release:-
(1) The value of the Contract.
(2) The tenure of the Contract.
(3) Whether the Contract is renewable. If so, for how many years.
(4) The financial effects of the Contract on Vitrox group.
(5) Whether the directors and/or major shareholders and/or persons connected
with a director or major shareholder have any interest,
direct or indirect, in the Contract, and the nature and extent of their
interests.
(6) The risks in relation to the Contract
Please furnish Bursa Securites with the announcement containing the aforesaid
information within one (1) market day from the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Regulation
LPY
cc: Securities Commission |
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