News
Others
Type | Announcement |
Subject | OTHERS |
Description | BORROWING AND PROVISION OF CORPORATE GUARANTEE |
The Board of Directors of Rimbunan Sawit Berhad (“RSB”) wishes to announce that on 26 December 2013, RSB Palm Oil Mill Sdn Bhd, a wholly-owned subsidiary of RSB has entered into a Master Banking Facilities Agreement with Bank Pertanian Malaysia Berhad amounting to RM95.0 million comprises of BBA Facility (BBA), Revolving Working Capital Facility-i (RWCF-i), Letter of Credit-i (LC-i) and Bank Guarantee-i (BG-i) and that RSB shall provide Corporate Guarantee and Indemnity to RSB Palm Oil Mill Sdn Bhd to secure the indebtedness pursuant to the aforesaid banking facilities. Financial Impact Save and except for an impact expected of the return on capital with cash and debt leverage on the said banking facilities, it is not expected to have effect on the earnings per share and net tangible assets per share of RSB for the current financial year. The said banking facilities will result in the Group’s Debt: Equity ratio shift to 0.83 from 0.73 previously. The existing share capital and major shareholders’ shareholding of the Company will not be affected by the said banking facilities and the provision of Corporate Guarantee and Indemnity. Interest of the Directors and/or Major Shareholders None of the Directors and/or Major Shareholders of RSB and/or persons connected with them have any interest, direct or indirect, in the abovementioned banking facilities and the provision of Corporate Guarantee and Indemnity. Statement by Directors The Board of Directors having considered all aspects of the abovementioned banking facilities, is in the opinion that the abovementioned banking facilities and the provision of Corporate Guarantee and Indemnity are in the best interests of the Company and are not detrimental to the minority shareholders. This announcement is dated 27 January 2014. |
Announcement Info
Company Name | RIMBUNAN SAWIT BERHAD |
Stock Name | RSAWIT |
Date Announced | 28 Jan 2014 |
Category | General Announcement |
Reference No | CC-140128-0D514 |