PRESS RELEASE
FOR IMMEDIATE RELEASE
5 January 2002
Company Name:
Stock name :
Stock code :
Contact person :
Designation :
Type : |
AIC
CORPORATION BERHAD ("AIC") or ("COMPANY")
AIC
9547
Chen Heng Mun
Company Secretary
Reply To Query |
Subject : AIC Calls Off Deal with National Scientific
Contents :
We refer to your letter
dated 4 February 2002 regarding the above article appearing in Business Times, Companies
& Markets Section on the same date.
We wish to clarify on the following two statements in relation to the
Memorandum of Understanding dated 21 June 2001 between AIC Semiconductor Sdn Bhd
("AICS"), a subsidiary of AIC, and National Scientific Corporation
("NSC") to develop a strategic alliance to develop and manufacture advanced
power protection semiconductor devices, which was announced on 25 June 2001 :-
1. "AIC
Corp Bhd has decided to abort its proposed strategic alliance with US-based National
Scientific Corp (NSC) to produce Thyristors and Schotty Diodes...."
2. ".....negotiations
between the two parties broke down when they could not agree on the terms relating to the
purchase of the diodes produced."
We wish to clarify that the agreement signed on 21 June 2001 was merely a Memorandum Of
Understanding where both parties have agreed to attempt to reach a more detailed agreement
by 31 July 2001 and both parties were contemplating setting up and participating in the
equity of a Joint Venture Company after the conduct of feasibility studies for carrying
out the activities above. A third party was invited to participate in the above to
alleviate certain start-up risks and time to market. However as no agreement could be
reached between the parties, AIC has decided not to pursue with the proposed strategic
alliance. The decision will not have a material effect on the future earnings of the AIC
Group.
5 January 2002
Ref: 068 |
