OTHERS CJ CENTURY LOGISTICS HOLDINGS BERHAD ("CJ CENTURY" OR "THE COMPANY") - VARIATION BETWEEN THE ACTUAL VALUE OF RECURRENT RELATED PARTY TRANSACTIONS OF REVENUE OR TRADING NATURE TRANSACTED FROM ESTIMATED VALUE
|CJ CENTURY LOGISTICS HOLDINGS BERHAD|
CJ CENTURY LOGISTICS HOLDINGS BERHAD ("CJ CENTURY" OR "THE COMPANY") - VARIATION BETWEEN THE ACTUAL VALUE OF RECURRENT RELATED PARTY TRANSACTIONS OF REVENUE OR TRADING NATURE TRANSACTED FROM ESTIMATED VALUE
The Company had at its Twenty-Fourth Annual General Meeting held on 22 April 2021 obtained the mandate from its Shareholders for the Company and its subsidiaries (“CJ Group”) to enter into Recurrent Related Party Transactions of Revenue or Trading Nature (“RRPT”) which are necessary for CJ Group’s day-to-day operations.
The RRPT was disclosed in the Company's Circular to Shareholders dated 30 March 2021 in relation to the Proposed Renewal of Existing Shareholders’ Mandate for RRPT and Proposed New Shareholders’ Mandate for New RRPT (“Circular”).
Pursuant to Paragraph 10.09(2)(e) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that the following RRPT has exceeded the estimated value of RRPT disclosed in the Circular by more than 10%:-
#CJ Logistics is the holding company of CJ Logistics Asia Sdn. Bhd., a Major Shareholder of the Company.
#CJKX is the wholly-owned subsidiary of the Company.
The Company has exceeded the estimated value of RRPT as the ocean freight rates have soared greatly for all trade routes since September 2020 due to the ongoing impacts of the COVID-19 pandemic.
This announcement is dated 18 November 2021.
|Company Name||CJ CENTURY LOGISTICS HOLDINGS BERHAD|
|Date Announced||18 Nov 2021|
|Category||General Announcement for PLC|