Further to the announcement made on 30 March 2004 in relation to the proposed placement (the "Placement") of up to 15,871,000 new ordinary shares of S$0.25 each in the capital of the Company (the "New Shares"), the Board of Directors wishes to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has granted its in-principle approval (the "In-Principle Approval") for the listing and quotation of the New Shares on the Official List of the SGX-ST.
The In-Principle Approval is not to be taken as an indication of the merits of the Placement.
BY ORDER OF THE BOARD
MTQ CORPORATION LIMITED
FONG CHOON SENG
COMPANY SECRETARY