OGAWA

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OTHERS Ogawa World Berhad (the “Company” or “OWB”) - Bank borrowings by Healthy World Lifestyle Sdn Bhd, a wholly-owned subsidiary of the Company for construction of a double-storey detached warehouse cum three-storey office building on a leasehold industrial land held under H.S.(D) 117476 PT119983 in Mukim and Daerah Klang and Negeri Selangor having an address No. PT 119983, Jalan Telok Gong, 42000 Pelabuhan Klang, Selangor Darul Ehsan

OGAWA WORLD BERHAD

Type	Announcement
Subject	OTHERS
Description	Ogawa World Berhad (the “Company” or “OWB”) - Bank borrowings by Healthy World Lifestyle Sdn Bhd, a wholly-owned subsidiary of the Company for construction of a double-storey detached warehouse cum three-storey office building on a leasehold industrial land held under H.S.(D) 117476 PT119983 in Mukim and Daerah Klang and Negeri Selangor having an address No. PT 119983, Jalan Telok Gong, 42000 Pelabuhan Klang, Selangor Darul Ehsan
The Board of Directors of OWB wishes to announce that Healthy World Lifestyle Sdn Bhd, a wholly-owned subsidiary of the Company had on 19 September 2013 accepted a RM10 million Banking Facilities as follows, granted by CIMB Islamic Bank Berhad (the “Bank”) for the purpose of funding the construction of a double-storey detached warehouse cum three-storey office building on a leasehold industrial land held under H.S.(D) 117476 PT119983 in Mukim and Daerah Klang and Negeri Selangor having an address No. PT 119983, Jalan Telok Gong, 42000 Pelabuhan Klang, Selangor Darul Ehsan (the “Property”): Banking Facilities Amount Term Financing-i (“TF-i”) RM 5 million Flexi Term Financing-I (“FTF-i”) RM 5 million The maturity tenures for repayment of the Banking Facilities i.e. the Bank’s Sale Price which consists of the principal sum and profit portion shall be 102 months including the grace period of 18 months commencing from the date of first disbursement. The first disbursement of the Banking Facilities shall be made within 12 months from the date of the Bank’s Letter of Offer latest by 5 September 2014 (“Availability Period”), or the Bank may at its absolute discretion extend the Availability Period. The Banking Facilities are secured by: i) Corporate Guarantee by OWB in favour of the Bank; and ii) First Party Open Charge over the Property in favour of the Bank. The acceptance of the Banking Facilities: i) will not have any effect on the issued and paid-up share capital and substantial shareholders’ shareholdings of OWB as the Banking Facilities does not involve any issuance of OWB shares; ii) is not expected to have material financial effect on the net assets and earnings per share of OWB Group for the financial years ended 30 June 2013 and ending 30 June 2014; and iii) upon full draw down, the gearing arising from the Banking Facilities is expected to increase from 13.2% (based on the Company’s announcement on 28 June 2013 on the acquisition of a leasehold terrace factory unit with mezzanine floor located at 27 Tampines Industrial Avenue 5, T5 @ Tampines, Singapore 528623) to 26.4%. Both the gearing of 13.2% and 26.4% are computed based on the third quarter results for the financial period ended 31 March 2013. The gearing arising from the Banking Facilities will be 24.9%, if computed based on the fourth quarter results for the financial period ended 30 June 2013. This announcement is dated 19 September 2013.

Announcement Info

Company Name	OGAWA WORLD BERHAD
Stock Name	OGAWA
Date Announced	19 Sept 2013
Category	General Announcement
Reference No	CC-130919-58380

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