Elektromotive Group Limited

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    Clarification On The Full Year Financial Statement For The Period Ended 31 December 2001

    BackApr 02, 2002

    Further to our announcement made on 26 March 2002 in relation to our Full Year Financial Statement for the period ended 31 December 2001, the SGX has on 28 March 2002 requested for a clarification on the impact of our partial divestment of Inovatif Media Asia Sdn. Bhd. and our new investments, on our business for the current financial year.

    In reply thereof, we wish to clarify that our Group expects to remain profitable in the current financial year after taking into account the negative impact of the new investments on earnings and the positive impact of the partial divestment of Inovatif Media Asia Sdn. Bhd. and in view of the expected economic recovery.