MALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR “COMPANY”) THE DISPOSAL OF THE AGGREGATE FACE AMOUNT OF RM199 MILLION NOMINAL VALUE OF PRIMARY PROMISSORY NOTES (“PRIMARY JUNIOR SUKUK”) AND NON-DETACHABLE SECONDARY PROMISSORY NOTES (“SECONDARY JUNIOR SUKUK”) TO THE NATIONAL AGRICULTURAL COOPERATIVE FEDERATION (“PURCHASER”) FOR A CASH CONSIDERATION OF RM230 MILLION (“DISPOSAL”) (BOTH PRIMARY JUNIOR SUKUK AND SECONDARY JUNIOR SUKUK ARE HEREIN COLLECTIVELY REFERRED TO AS “JUNIOR SUKUK”)
| MALAYSIAN RESOURCES CORPORATION BERHAD |
| Type | Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | NE-111003-43574 |
| Subject | MALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR “COMPANY”) THE DISPOSAL OF THE AGGREGATE FACE AMOUNT OF RM199 MILLION NOMINAL VALUE OF PRIMARY PROMISSORY NOTES (“PRIMARY JUNIOR SUKUK”) AND NON-DETACHABLE SECONDARY PROMISSORY NOTES (“SECONDARY JUNIOR SUKUK”) TO THE NATIONAL AGRICULTURAL COOPERATIVE FEDERATION (“PURCHASER”) FOR A CASH CONSIDERATION OF RM230 MILLION (“DISPOSAL”) (BOTH PRIMARY JUNIOR SUKUK AND SECONDARY JUNIOR SUKUK ARE HEREIN COLLECTIVELY REFERRED TO AS “JUNIOR SUKUK”) |
| Description | We refer to your query letter dated 3 October 2011 and append below our reply for your attention: |
| Query Letter Contents | We refer to your Company's announcement dated 30 September 2011 in respect of the aforesaid Proposed Disposal. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- (1) Name of directors and substantial shareholders of HanaDaol Fund Management Co., Ltd.; (2) To provide breakdown including timeline for full utilisation of proceeds from the Disposal; and (3) The effect on earning per share for financial year ending 31 December 2011. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully KHOO KAY KWAN Head, Issuers Listing Division Regulation KKK/MZM Copy to: General Manager & Head, Market Surveillance Department, Securities Commission (via fax) |
1. The name of directors and substantial shareholders of HanaDaol Fund Management Co. Ltd. are not available.
2. As mentioned in the announcement dated 30 September 2011, more than 50% of the proceeds from the Disposal for business expansion and the balance would be utilised for working capital including debt repayment. The Disposal proceeds are expected to be fully utilised by 31 December 2012. 3. Based on MRCB’s issued and paid up capital of RM1,386,092,121 comprising 1,386,092,121 ordinary shares of RM1.00 each as at 15 September 2011, the gain on disposal of approximately RM34.2 million is expected to contribute approximately 2.47 sen to the Company’s earnings per share for the financial year ending 31 December 2011.
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Announcement Info
| Company Name | MALAYSIAN RESOURCES CORPORATION BERHAD |
| Stock Name | MRCB |
| Date Announced | 4 Oct 2011 |
| Category | General Announcement |
| Reference No | MR-111003-57977 |
