| Type | Announcement |
| Subject | Year 2000 (Y2K) Disclosure By Public Listed Companies |
The Maica Group of Companies ("the Group") is at the present moment not yet Y2K ready.
The targeted date of meeting the requirement is by the completion of the third quarter of 1999.
2. The impact of the Y2K issue if your company and/or subsidiaries fail to be Y2K Ready or are unable to achieve full readiness by the estimated date(s) mentioned above.
There will not be any impact on the Group if the Group fails to be Y2K Ready as the Group's overall potential exposure to the Y2K problem is minimal.
3. The exposure of your company and/or subsidiaries to third parties who have material business relationships with your company or subsidiaries in relation to the third parties' Y2K readiness.
There is no such exposure for the Group as the Group's systems do not interface with any external party.
4. The total cost your company and subsidiaries have incurred or is expected to incur to address the Y2K issue.
The expected cost is about RM100,000.00
5. Describe your company and subsidiaries' contingency plans in relation to the Y2K issue to ensure continued operation.
The Group has not made any contingency plan in relation to the Y2K issue as the Group's overall potential exposure to the Y2K problem is minimal.
|
Description of Non Y2K System
|
Criticality of System (critical or not critical)
|
Status of readiness
(at which stage & percentage of completion) |
Estimated date being Y2K Ready
|
Remarks
|
| Companies : 1. Consolidated Leasing (M) Sdn Bhd2. Consolidated Factoring (M) Sdn Bhd 3. Maritime Credits (Malaysia) Sdn Bhd Existing System :- IBM System 36 Other companies in the Group are using stand-alone PCs |
Not Critical
|
Final phases of testing and implementation
|
Third Quarter of 1999
|
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|
| Company Name | MALAYSIA AICA BERHAD |
| Stock Name | M AICA |
| Date Announced | 21 Jul 1999 |
| Category | General Announcement |
| Reference No | CU-990714-57357 |