General Announcement

Reference No CU-020614-50338

Company Name	:	EASTERN PACIFIC INDUSTRIAL CORPORATION BERHAD
Stock Name	:	EPIC
Date Announced	:	14/06/2002


Type	:	Announcement
Subject	:	TWENTY FIRST ANNUAL GENERAL MEETING

Contents :

We wish to inform the Kuala Lumpur Stock Exchange that at the Twenty First Annual General Meeting ("AGM") of our Company held on 14 June 2002 at 10.00 a.m. , the following resolutions contained in the Agenda of our AGM were unanimously passed by the shareholders:

(i) Resolution 1

Adoption of the Audited Financial Statements for the financial year ended 31 December 2001 together with the Reports of the Directors and Auditors thereon.

(ii) Resolution 2

Approval of a final dividend of RM 4,064,760 (7%) less income tax at 28% as recommended by the Directors for the year ended 31 December 2001.

(iii) Resolution 3

Approval of directors’ fees amounting to RM 207,670 for the financial year ended 31 December 2001.

(iv) Resolution 4

Y. Bhg. Prof. Dr Hamzah Ismail, a Director retiring in accordance with Article 66 of the Articles of Association of the Company has been re-elected as a Director of the Company.

(v) Resolution 5

Y.B. Dr. Syed Azman Syed Ahmad Nawawi, a Director retiring in accordance with Article 66 of the Articles of Association of the Company has been re-elected as a Director of the Company.

(vi) Resolution 6

Y. Bhg. Dato’ Abdul Rahman Nasir, a Director retiring in accordance with Article 72 of the Articles of Association of the Company has been re-elected as a Director of the Company.

(vii) Resolution 7

Encik Wan Salleh bin Mohd, a Director retiring in accordance with Article 72 of the Articles of Association of the Company has been re-elected as a Director of the Company.

(viii) Resolution 8

Re-appointment of Messrs PricewaterhouseCoopers as Auditors and to authorise the Directors to fix their remuneration.

(ix) Resolution 9

Proposed Renewal of Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue and Trading in Nature

"THAT the mandate granted by the shareholders of the Company on 17 January 2002 pursuant to paragraph 10.09 of the Listing Requirements of the Kuala Lumpur Stock Exchange, authorizing the Company and its subsidiaries ("EPIC Group") to enter into the recurrent transactions of a revenue or trading nature as set out in paragraph 2 and Schedule I of the Circular to Shareholders dated 22 May 2002 ("Circular") with the related parties mentioned therein which are necessary for the EPIC Group’s day-to-day operations, be and is hereby renewed,

AND THAT EPIC Group is hereby authorised to enter into the recurrent transactions with the related parties mentioned therein provided that:-

(a) the transactions are in the ordinary course of business and on normal commercial terms which are not more favourable to the related parties than those generally available to the public and are not to the detriment of the minority shareholders of the Company; and

(b) disclosure of the breakdown of the aggregate value of the transactions conducted will be made based on the type of recurrent related party transactions made, names of the related party involved in each type of the recurrent related party transactions made and their relationship with the Company, in the annual report of the Company during the current financial year and in the annual reports for the subsequent financial years during which the Proposed Mandate is in force.

AND THAT the authority conferred by such renewed mandate shall continue to be in force until:-

(a) the conclusion of the next Annual General Meeting (“AGM”) of the Company following the forthcoming AGM at which time it will lapse, unless by a resolution passed at the AGM, the mandate is again renewed;

(b) the expiration of the period within which the next AGM of the Company after the forthcoming AGM is required to be held pursuant to Section 143(1) of the Companies Act, 1965 (but shall not extend to such extension as may be allowed pursuant to Section 143(2) of the Act); or

(c) revoked or varied by resolution passed by the shareholders in general meeting,

whichever is earlier;

AND THAT the Directors of the Company be and are hereby authorised to complete and do all such acts and things as they may consider expedient or necessary to give effect to the Proposed Renewal of the Recurrent Related Party Transaction Mandate.