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|Subject||:||THREE-A RESOURCES BERHAD ("3A" OR THE "COMPANY")
I. PROPOSED CO-OPERATION BETWEEN THREE-A RESOURCES BERHAD AND WILMAR INTERNATIONAL LIMITED IN THE PEOPLE'S REPUBLIC OF CHINA ("PROPOSED CO-OPERATION"); AND
II. PROPOSED PROVISION OF FINANCIAL ASSISTANCE BY 3A IN FAVOUR OF THE JOINT VENTURE COMPANIES TO BE INCORPORATED PURSUANT TO THE PROPOSED CO-OPERATION ("PROPOSED FINANCIAL ASSISTANCE")
|Content||:||On behalf of the Board of Directors of 3A ("Board"), OSK Investment Bank Berhad ("OSK") is pleased to announce that 3A had, on 5 May 2010 entered into a framework co-operation agreement with Wilmar International Limited ("Wilmar") ("Co-operation Agreement") to invest and explore the possibility of setting up equity joint venture enterprises in the People's Republic of China ("PRC") ("Proposed Co-operation") on terms and conditions to be set out in more specific joint venture agreements to be entered into between the parties.
Pursuant to the Co-operation Agreement, Three-A Food Industries (M) Sdn. Bhd. (formerly known as Three-A Plantations (Pahang) Sdn. Bhd.) ("TAFI"), a wholly-owned subsidiary of 3A had on even date entered into a joint venture agreement with Yihai Kerry Investments Co, Ltd. ("YHK"), a wholly-owned subsidiary of Wilmar, ("JV Agreement 1") to incorporate a joint venture company in Shanhaiguan, PRC ("Proposed JV 1").
In addition to the Proposed Co-operation, OSK, on behalf of the Board wishes to announce that pursuant to paragraph 8.23 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Listing Requirements"), 3A proposes to render financial assistance in favour of the joint venture companies to be incorporated pursuant to the Proposed Co-operation ("Proposed Financial Assistance").
Further details of the Proposed Co-operation, Proposed JV 1 and Proposed Financial Assistance are set out in the attachment below.
This announcement is dated 5 May 2010.