KINSTEEL & PERWAJA SELL DOWN BY MAJU HOLDING

Kinsteel & It's subsidiary Perwaja is facing heavy sell down by shares in Maju Holding.

Both shares price started to fall from end Nov untill today closing. A check from Bursa indicated that all shares are sell down from Kenanga pledged securities accounts for Maju Holding.

Is this a force selling by Kenanga ? Has the force selling completed or more to come ?

IF investor in this 2 counter has cut loss strategy in place, then the losses will be caped at higher price level then now.

Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965

Reference No CU-101213-2D816

Company Name	:	KINSTEEL BHD
Stock Name	:	KINSTEL
Date Announced	:	13/12/2010

Name	:	Maju Holdings Sdn. Bhd.
Address	:	Level 21, Maju Tower, 1001 Jalan Sultan Ismail, 50250 Kuala Lumpur.
NRIC/Passport No/Company No.	:	40444-V
Nationality/Country of incorporation	:	Malaysia
Descriptions (Class & nominal value)	:	Ordinary Shares of RM0.20 each
Name & address of registered holder	:	Kenanga Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for Maju Holdings Sdn. Bhd.)

Details of changes
Currency : Malaysian Ringgit (MYR)
Type of transaction	Date of change	No of securities	Price Transacted ($$)
Disposed	26/11/2010	110,000
Disposed	29/11/2010	384,100
Disposed	30/11/2010	168,000
Disposed	01/12/2010	671,800
Disposed	02/12/2010	436,100
Disposed	03/12/2010	1,850,000
Disposed	06/12/2010	2,440,000
Disposed	08/12/2010	2,283,900
Disposed	09/12/2010	3,110,000

Circumstances by reason of which change has occurred	:	Open-market sale.
Nature of interest	:	Direct
Direct (units)	:	176,368,700
Direct (%)	:	18.59
Indirect/deemed interest (units)	:	0
Indirect/deemed interest (%)	:	0
Total no of securities after change	:	176,368,700
Date of notice	:	10/12/2010

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Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965

Reference No PH-101213-52964

Company Name	:	PERWAJA HOLDINGS BERHAD
Stock Name	:	PERWAJA
Date Announced	:	13/12/2010

Name	:	Maju Holdings Sdn. Bhd.
Address	:	Level 21, Maju Tower 1001 Jalan Sultan Ismail 50250 Kuala Lumpur
NRIC/Passport No/Company No.	:	40444-V
Nationality/Country of incorporation	:	Incorporated in Malaysia
Descriptions (Class & nominal value)	:	Ordinary shares of RM1.00 each
Name & address of registered holder	:	Kenanga Nominees (Tempatan) Sdn. Bhd. Pledged Securities Account for Maju Holdings Sdn. Bhd.

Details of changes
Currency : Malaysian Ringgit (MYR)
Type of transaction	Date of change	No of securities	Price Transacted ($$)
Disposed	02/12/2010	50,000
Disposed	03/12/2010	70,000
Disposed	06/12/2010	127,200
Disposed	08/12/2010	300,000
Disposed	09/12/2010	474,200

Circumstances by reason of which change has occurred	:	Open-market sale
Nature of interest	:	Direct
Direct (units)	:	23,978,600
Direct (%)	:	4.282
Indirect/deemed interest (units)	:	365,416,500
Indirect/deemed interest (%)	:	65.253
Total no of securities after change	:	389,395,100
Date of notice	:	10/12/2010
Remarks
1) Notification received on 13 December 2010 2) The direct interest of 23,978,600 shares are held by Kenanga Nominees (Tempatan) Sdn. Bhd. pledged securities account for Maju Holdings Sdn. Bhd. The indirect interest of 365,416,500 shares comprise of: (a) 209,100,000 shares held by Kinsteel Bhd (b) 30,000 shares held by MH Consultancy Services Sdn. Bhd. (c) 356,500 shares held by Ipmuda Berhad (d) 30,000 shares held by Edaran Maju-Muda Sdn. Bhd. (e) 2,020,000 shares held by Equal Concept Sdn. Bhd. (f) 153,880,000 shares held by Kenanga Nominees (Tempatan) Sdn. Bhd. pledged securities account for Equal Concept Sdn. Bhd.