PUBLIC ANNOUNCEMENT

Notice is hereby given that the Sarawak Electricity Supply Corporation (SESCO) will be privatized on 1^st day of July 2005 and following this; all its properties, rights and liabilities shall be transferred to, and, vested in its entity or Successor Company, Syarikat SESCO Berhad (Company No. 672931-A).

Members of the public in general and the electricity consumers and persons having dealings, contracts, etc, with the Sarawak Electricity Supply Corporation in particular, are hereby informed that all transactions, dealing, connections, businesses, communications, contracts, etc. with the Sarawak Electricity Supply Corporation shall, as of 1^st day of July 2005, be performed and/or undertaken by Syarikat SESCO Berhad.

There shall be no change in the business of SESCO. All existing contracts of electricity and applications and dealings pertaining to the supply of electricity shall be carried out as usual by the regional offices of SESCO in the respective regions in the state of Sarawak. All telephones, facsimiles number and contact addresses shall remain the same.

We would like to inform the public on matters pertaining to the following:  

1.                Our Existing and Potential Customers and Non-electricity Debtors

           Billing

• All electricity and non-electricity bills issued under the "Sarawak Electricity Supply Corporation" will remain valid.

            Payment of SESCO / Company Bills

• Payments of all bills can be made at all existing outlets including SESCO's SBBS counters, designated banks and the relevant websites.

• Payment by cheques from 01 July 2005 shall be made in the name of "Syarikat SESCO Berhad" or  "SESCO".

            Collateral Deposits

• Customers' collateral deposits in cash and banker's guarantee placed with the Sarawak Electricity Supply Corporation will continue to be honoured by Syarikat SESCO Berhad.

2.         Contractors, Vendors and Suppliers

Contracts

•  All existing contracts (but not limited to procurement of materials, works, services and supplies) under the name of "Sarawak Electricity Supply Corporation" shall be vested in, and, transferred to Syarikat SESCO Berhad.  The terms and conditions of such contracts including all rights and obligations shall remain valid and enforceable by the contracting parties therein.

Invoices

•  Invoices arising from contracts on or after 01 July 2005 shall be made in the name of Syarikat SESCO Berhad.  However, Syarikat SESCO Berhad shall duly honour invoices raised before 01 July 2005 in the name of "Sarawak Electricity Supply Corporation".

3.         Payment By "Sarawak Electricity Supply Corporation" and Syarikat SESCO Berhad 

•  For the period commencing 01 July 2005 to 30 September 2005, all cheques issued by Syarikat SESCO Berhad shall continue to bear the name of "Sarawak Electricity Supply Corporation" and shall be valid until their expiry dates.  The Sarawak Electricity Supply Corporation has procured its bankers' agreement to honour such cheques by separate arrangement.

• Effective 01 October 2005, all cheques shall be issued in the name of Syarikat SESCO Berhad.

4.         General

• Bankers Guarantee (inclusive but not limited to Earnest Money, Bid Bond, Advance Payment Guarantee, Collateral Deposit, etc.) issued before 01 July 2005 in favour of "Sarawak Electricity Supply Corporation" shall be vested in, and, transferred to Syarikat SESCO Berhad and remain valid until the expiry date of each document.
  
  

• Likewise, Syarikat SESCO Berhad shall continue to honour the rights and obligations under all Bankers' Guarantee issued by the "Sarawak Electricity Supply Corporation" prior to 01 July 2005 in favour of any third party thereof.