TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS CENTURY LOGISTICS HOLDINGS BERHAD ("CENTURY" OR " THE COMPANY") - DISPOSAL OF A PROPERTY IN ROJANA INDUSTRIAL PARK, AYUTTHAYA PROVINCE, THAILAND BY CENTURY RESOURCES (THAILAND) LIMITED, A WHOLLY-OWNED SUBSIDIARY OF THE CENTURY GROUP, TO GUIDANCE INVESTMENTS SDN BHD, FOR A CASH CONSIDERATION OF THAI BAHT 320 MILLION (“DISPOSAL”)
| CENTURY LOGISTICS HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | CENTURY LOGISTICS HOLDINGS BERHAD ("CENTURY" OR " THE COMPANY") - DISPOSAL OF A PROPERTY IN ROJANA INDUSTRIAL PARK, AYUTTHAYA PROVINCE, THAILAND BY CENTURY RESOURCES (THAILAND) LIMITED, A WHOLLY-OWNED SUBSIDIARY OF THE CENTURY GROUP, TO GUIDANCE INVESTMENTS SDN BHD, FOR A CASH CONSIDERATION OF THAI BAHT 320 MILLION (“DISPOSAL”) |
(For consistency, all the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 5 March 2014 in relation to the Disposal, where applicable, unless stated otherwise or defined herein)
The Board of Directors of CENTURY wishes to announce the following additional information/clarification in respect of the abovementioned matter:-
1. Rental income received prior to the Disposal
The rental income per month received by CRT prior to
the Disposal was THB2.62 million (approximately RM0.26 million).
2. Interest savings from the full repayment of the term loan as mentioned in item 5(i) of the announcement dated 5 March 2014
The interest savings from the full repayment of the balance
term loan of THB120.4 million (approximately RM12.04 million) would be THB6.8 million (approximately RM0.68 million) per annum at
the latest interest rate of 5.62625% per annum.
3. Remaining
sum of the proceeds to be utilised as working capital as mentioned in item
5(iii) of the announcement dated 5 March 2014 The
remaining sum amounting to approximately THB184.1 million (approximately
RM18.41 million) would be added on to the Group’s existing deposits, cash and
bank balances of RM38.1
million as at 31 December 2013 (“fund”). The fund would be invested in
fixed income funds, generating return of investment of approximately 3% per
annum. The Group intends to utilise the fund as and when the Group identifies suitable
investments in the future.
4. Documents
for inspection
The
sale and purchase agreement and the broker’s opinion of value as mentioned in
item 4(i) of the announcement dated 5 March 2014 pertaining to the Disposal can
be inspected at the registered office of Century at Level 7, Menara Milenium,
Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur
from Mondays to Fridays (except public holidays) during normal business hours
for a period of three (3) months from the date of this announcement.
This
announcement is dated 12 March 2014.
| |
Announcement Info
| Company Name | CENTURY LOGISTICS HOLDINGS BERHAD |
| Stock Name | CENTURY |
| Date Announced | 12 Mar 2014 |
| Category | General Announcement |
| Reference No | CS-140312-56323 |
