BSNC LEASING (M) SDN BHD (349734-U)

COMPANYS BRIEF BSNC Leasing (M) Sdn Bhd (BSNC Leasing) was incorporated on 5 July 1995 with RM 20 Million paid up capital is a wholly owned subsidiary of BSNC Corporation Berhad. It is unfortunate that the shareholders have decided to liquidate BSNC Corporation Berhad, the Holding company of BSNC Leasing. Indirectly, BSNC Leasing has to be folded as well. The main purpose of the liquidation is to distribute the cash available among the shareholders who has been with the company since 1975 that was when Bank Buruh was formed. The track record of the company in terms of profitability and the negligible NPL rates speaks volumes on the viability of this company and its business model mainly assisted by the capability of the experienced and diligent staff maintained. Prior to 2002, BSNC Leasings lending activities were mainly Leasing and Industrial Hire Purchase of equipments, heavy and light machineries for commercial and manufacturing sectors. With the onset of financial crisis in 1997 -1998, BSNC Leasing sustained substantial losses due to Non Performing Loans. BSNC Leasing ceased its lending activities and undertook recovery actions only. In 2006 BSNC Leasing ventured aggressively into Hire Purchase of big bikes with good resale value on a short and medium credit terms of between 1 to 6 years. Apart from that, BSNC Leasing is also providing factoring facilities on short term basis as well as secured term loans on a small scale basis. Todate BSNC Leasing has a Hire Purchase portfolio of RM 33 Million at a negligible Non Performing Loans rate. The companys financial overviews as at 31 December 2010 are as follows: Net Tangible Assets RM 21.2 Million Hire Purchase Portfolio RM 33 Million Average monthly HP disbursements RM 1.7 Million Average monthly HP collections RM 1.8 Million Non Performing Loans 1% No of motorcycle dealers 20 No of staff 13 Staff Cost RM 30,000 per month

Objective depending on the funds availability, we would be able to do a new business of RM 30 to RM 50 Million per year at a gross profit margin of 10% (before funding cost). BSNC Leasing is marketing the motorcycle Hire Purchase through the motorcycle dealers focused in the Klang Valley and also walked-in customers. We can proudly say that we are among the prominent big bikes financiers in Klang Valley due to our swift services and competitiveness. We are looking for an interested investor to acquire the companys assets, business and its experienced staff as well. I would say that RM 30 Million would be an appropriate amount to acquire BSNC Leasing as well as additional funding for working capital. At this juncture, no valuation on the company has been made yet. Kindly contact me, Mohd Asni thru e mail asni@bsnccorp.com.my or at 016 3812121 for further information

CORPORATE INFORMATION
Business Address : 15th Floor, Tower Block (E) Plaza Pekeliling 2 Jalan Tun Razak 50400 Kuala Lumpur Date Of Incorporation Registration No Authorised Capital Paid up capital Shareholder Auditors : : : : : : 5 July 1995 349734 U RM 50 Million RM 20 Million Wholly owned subsidiary of BSNC Corporation Berhad Salleh, Leong, Azlan & Co 14, Jalan Tun Sambanthan Company secretary : SECTA Sdn Bhd Jalan Ipoh BSNC Substantial Shareholders are: Bank Simpanan Nasional (41.3%) Tabung Amanah Warisan Negeri Johor (30%) National Land Finance Cooperative Society Ltd. Syarikat Kerjasama NESA Pelbagai Berhad Tan Sri Dato Seri Vincent Tan Chee Yioun Mayban (Nominees) Sendirian Berhad