The Board of Directors of MTQ Corporation Limited (the ¡§Company¡¨ or ¡§MTQ¡¨)
wishes to clarify that a request for trading halt had been submitted by the
Company after trading hours on 14 June 2007 in anticipation of the release of
an announcement regarding a joint venture.
The Company was in the final stage of concluding the joint venture
agreement, which was scheduled to be signed today. Discussions on the joint
venture were, however, terminated as consensus could not be reached on
several critical issues raised by the joint venture party at a late hour.
Accordingly, the request for lifting of the trading halt was released via
SGXNET before the start of trading hours this morning.
Going forward, the Company will continue to actively seek new business
opportunities in areas that complement the Group¡¦s core operations.
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