Reference is made to the Extraordinary General Meeting of the Company held on 11 January 2010 and pursuant to the Guarantee Agreement dated 13 November 2002 and the Supplementary Agreement dated 4 July 2003 between the Company and Teong Hoe Holding Sdn Bhd, Forad Management Sdn Bhd and Dato’ Tan Kok Hwa, and the Second Supplementary Agreement dated 25 November 2009 between the Company and Teong Hoe Holding Sdn Bhd and Dato’ Tan Kok Hwa (“the New Guarantors”), whereby the New Guarantors agreed to the profit guarantee on a cumulative audited profit before taxation (“PBT”) of EBFSB shall not be less than RM21.66 million (“Guaranteed Profit”) for the financial years ended 31 December 2010 to 2012.
The Board of Directors of the Company wishes to announce that the guaranteed audited PBT and the achieved audited PBT of EBFSB for the financial years ended 31 December 2010 to 2012 are as follows:
Eastern Biscuit Factory Sdn. Bhd. | Financial Year Ended 31 December | Aggregate Amount (RM’000) |
2010 (RM’000) | 2011 (RM’000) | 2012 (RM’000) |
Guaranteed audited PBT | 5,000 | 5,000 | 11,660 | 21,660 |
Actual audited PBT | 5,736 | 7,897 | 8,335 | 21,968 |
The profit guarantee guarantee period has expired on 31 December 2012 with total aggregate profits for the profit guarantee period amounting to RM21.97 million which has exceeded the profit guarantee amount of RM21.66 million.
This announcement is dated 10 May 2013.
