Bursa Announcements
OTHERS META BRIGHT GROUP BERHAD (THE "COMPANY") - EXPIRY AND NON-UTILISATION OF TERM LOAN 1 FACILITY OF UP TO RM25,500,000, TERM LOAN 2 FACILITY OF UP TO RM3,000,000 AND UNCOMMITTED FOREIGN EXCHANGE CONTRACT FACILITY (COLLECTIVELY, "FACILITIES") GRANTED TO THE WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, META BRIGHT SDN. BHD. ("MBSB") BY AMBANK (M) BERHAD ("AMBANK")
| META BRIGHT GROUP BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | META BRIGHT GROUP BERHAD (THE "COMPANY")
- EXPIRY AND NON-UTILISATION OF TERM LOAN 1 FACILITY OF UP TO RM25,500,000, TERM LOAN 2 FACILITY OF UP TO RM3,000,000 AND UNCOMMITTED FOREIGN EXCHANGE CONTRACT FACILITY (COLLECTIVELY, "FACILITIES") GRANTED TO THE WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, META BRIGHT SDN. BHD. ("MBSB") BY AMBANK (M) BERHAD ("AMBANK") |
|
Reference is made to the Company's earlier announcement dated 29 April 2024 in respect of the acceptance of the Facilities from AmBank.
The Board of Directors of the Company wishes to announce that the Facilities, which have remained unutilised throughout the availability period, have lapsed upon their expiry on 24 April 2025 in accordance with the respective terms of the Facilities.
The Facilities were granted to MBSB, a wholly-owned subsidiary of the Company, and were intended, amongst others, to support its equipment and machinery business initiative in Australia.
Nevertheless, after amongst others, careful monitoring and reassessment in light of the increased cross-border risks including heightened uncertainties surrounding global tariffs, the Company has decided to realign its priorities and accordingly, MBSB did not proceed with the drawdown and utilisation of the Facilities as initially planned.
The expiry and non-utilisation of the Facilities do not have any material adverse impact on the earnings or financial position of the Company for the financial year ending 30 June 2025.
This announcement is dated 25 April 2025. |
|
Announcement Info
| Company Name | META BRIGHT GROUP BERHAD |
| Stock Name | MBRIGHT |
| Date Announced | 25 Apr 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25042025-00049 |
