CNMC

CNMC: has entered into a joint venture agreement with Menteri Besar Incorporated (Perak), and Amanjaya Natural Resources Sdn Bhd, to form a joint venture company. The JVCo will be set up for the exploration, and extraction of the tin resources once it successfully ascertains that tin resources can be extracted in an environmentally, socially and economically viable way on an approximately 700 acres land located in the State of Perak. Persuant to the JVA, MCS will hold 80% of the total issued and paid-up capital of the JVCo whilst the remaining 20% will be held by ANR. The setting-up of the JVCo and subscription of shares in the JVCo will be funded by the Company’s internal resources and are not expected to have any material impact on the earnings per share or net tangible assets per share of the Group for the financial year ending 31 December 2013.