Announcements

Date : 11 June 2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS ADDITIONAL INFORMATION IN RESPECT OF THE PROPOSED DISPOSAL BY CJ CENTURY LOGISTICS HOLDINGS BERHAD ("CJ CENTURY" OR "THE COMPANY") OF ITS COURIER SERVICES BUSINESS THROUGH THE DIVESTMENT OF ITS 100% EQUITY INTEREST IN CJ LOGISTICS EXPRESS MALAYSIA SDN. BHD. (FORMERLY KNOWN AS EVERGREEN SUNLIGHT SDN. BHD.) ("CJ LEM") TO CJ LOGISTICS ASIA PTE LTD ("CJ ASIA") FOR A TOTAL CASH CONSIDERATION OF RM7,471,505.91 ("PROPOSED DISPOSAL")

CJ CENTURY LOGISTICS HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
ADDITIONAL INFORMATION IN RESPECT OF THE PROPOSED DISPOSAL BY CJ CENTURY LOGISTICS HOLDINGS BERHAD ("CJ CENTURY" OR "THE COMPANY") OF ITS COURIER SERVICES BUSINESS THROUGH THE DIVESTMENT OF ITS 100% EQUITY INTEREST IN CJ LOGISTICS EXPRESS MALAYSIA SDN. BHD.  (FORMERLY KNOWN AS EVERGREEN SUNLIGHT SDN. BHD.) ("CJ LEM") TO CJ LOGISTICS ASIA PTE LTD ("CJ ASIA") FOR A TOTAL CASH CONSIDERATION OF RM7,471,505.91 ("PROPOSED DISPOSAL")

Reference is made to the earlier announcement dated 4 June 2021 in respect of the Proposed Disposal (Reference No.GA1-04062021-00011) (“Announcement”).

 

Unless stated otherwise, definitions used in this reply shall carry the same meaning as defined in the Announcement.

 

The Board of Directors of CJ Century wishes to provide the following additional information in relation to the use of proceeds for the Proposed Disposal:-

 

The net proceeds from the Proposed Disposal (after deducting estimated expenses in relation to the Proposed Disposal of RM159,000) of RM7.313 million will be utilised for working capital and repayment partially of the Company’s short term borrowings, with the breakdown as listed below:-

 

Working capital (administrative expenses) RM3.313 million
Repayment of revolving credit RM4.0 million


This announcement is dated 11 June 2021.

 






Announcement Info

Company Name CJ CENTURY LOGISTICS HOLDINGS BERHAD
Stock Name CJCEN
Date Announced 11 Jun 2021
Category General Announcement for PLC
Reference Number GA1-11062021-00093


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