News

Article Entitled : "QL Expects 20% Growth"

Type	:	Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID	:	RS-070822-52980
Subject	:	ARTICLE ENTITLED : "QL EXPECTS 20% GROWTH"

Contents :

We refer to the query from Bursa Malaysia Securities Berhad ("Bursa") dated 22 August 2007 pertaining the article appearing in Nanyang Siang Pau, Business section, Page C3 on the even date.

We wish to clarify that the quote statement "QL Resources Berhad expects its revenue and profits for current year will grow by more than 20%", was misinterpreted. In response to the question posted by the press with regards to the next years growth taking into account the fact that QL has for the past years growing at a rate of more than 20%, the Managing Director, Mr Chia Song Kun mentioned that barring unforeseen circumstances he is optimistic that QL may strive to meet the consensus of double digit growth made by the various analyst.

We also wish to clarify that the quoted statement was not intended to refer to any financial estimate, forecast or projection of our Group, and have not been reviewed by the external auditors.

This announcement is dated 22 August 2007.




Query Letter content :
We refer to the above news article appearing in Nanyang Siang Pau, Business
section, Page C3, Wednesday, 22 August 2007 , a copy of which is enclosed for
your reference.
In particular, we would like to draw your attention to the underlined sentence,
which states that QL Resources Bhd expects its revenue and profits for current
year will grow by more than 20%.
In accordance with Bursa Securities's Corporate Disclosure Policy, you are
requested to furnish Bursa Securities with an announcement for public release
confirming or denying the above article and in particular the underlined
sentence after due and diligent enquiry with all the directors, substantial
shareholders and all such persons reasonably familiar with the matter about
which the disclosure is to be made in this respect. In the event you deny the
above sentence or any other part of the above reported article, you are
required to set forth facts sufficient to clarify any misleading aspects of the
same. In the event you confirm the above sentence or any other part of the
above reported article, you are required to set forth facts sufficient to
support the same, including the relevant basis and assumptions in arriving at
the above forecast.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully


JOHAN ABDULLAH
Head
Listing Division, Group Regulations
IS/CKM/RSA
Copy to : Securities Commission (via fax) (En Chung Tin Fah)