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BURSA ANNOUNCEMENTS

Date : 07 January 2020

OTHERS ISSUANCE OF ASSET-BACKED MEDIUM TERM NOTES OF RM665.0 MILLION IN NOMINAL VALUE ("ABS MTNs") BY STARBRIGHT CAPITAL BERHAD ("SCB") BACKED BY RECEIVABLES DUE TO SUNGAI HARMONI SDN BHD ("SHSB"), A WHOLLY-OWNED SUBSIDIARY OF TALIWORKS CORPORATION BERHAD

TALIWORKS CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
ISSUANCE OF ASSET-BACKED MEDIUM TERM NOTES OF RM665.0 MILLION IN NOMINAL VALUE ("ABS MTNs") BY STARBRIGHT CAPITAL BERHAD ("SCB") BACKED BY RECEIVABLES DUE TO SUNGAI HARMONI SDN BHD ("SHSB"), A WHOLLY-OWNED SUBSIDIARY OF TALIWORKS CORPORATION BERHAD

Reference is made to the announcement dated 27 December 2019 in relation to the ABS MTNs.

 

We wish to clarify that under the securitisation exercise, SHSB sold to SCB by way of a legal assignment the outstanding receivables of RM648.4 million due to SHSB, together with all rights, benefits and interest under the Termination and Settlement Agreement dated 24 May 2019 entered into between SHSB, Syarikat Pengeluar Air Sungai Selangor Sdn. Bhd. (SPLASH) and Pengurusan Air Selangor Sdn. Bhd. (Receivables). The Receivables together with interest of 5.25% per annum on any outstanding balance are payable by SPLASH over 9 annual instalments.

 

The total sale consideration for the Receivables is RM660.0 million of which RM626.1 million was paid by SCB to SHSB from the issue proceeds of the ABS MTNs and the remaining sale consideration will be paid to SHSB annually over the tenure of the ABS MTNs, subject to the terms of the ABS MTNs.

 

This announcement is dated 7 January 2020.






Announcement Info

Company Name TALIWORKS CORPORATION BERHAD
Stock Name TALIWRK
Date Announced 07 Jan 2020
Category General Announcement for PLC
Reference Number GA1-07012020-00037



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