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JADI

0.115

(%)

OTHERS JADI IMAGING HOLDINGS BERHAD (JADI) - Acceptance of Loans and Trade Financing Facilities granted by ORIX Credit Malaysia Sdn. Bhd. (ORIX) and Hong Leong Bank Berhad (Hong Leong) to Jadi Imaging Technologies Sdn. Bhd. (JIT), being a wholly owned subsidiary of JADI (Proposed Borrowing)

JADI IMAGING HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
JADI IMAGING HOLDINGS BERHAD (JADI)
- Acceptance of Loans and Trade Financing Facilities granted by ORIX Credit Malaysia Sdn. Bhd. (ORIX) and Hong Leong Bank Berhad (Hong Leong) to Jadi Imaging Technologies Sdn. Bhd. (JIT), being a wholly owned subsidiary of JADI (Proposed Borrowing)

Pursuant to Paragraph 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of JADI wishes to announce that JIT, being a wholly owned subsidiary of JADI, had on 18 December 2019 accepted the offers from ORIX and Hong Leong in respect of the above Loans and Trade Financing Facilities for a total amount of RM29,600,000.00. The Proposed Borrowing is for general working capital purposes and financing the construction cost of three (3) Chemically Produced Toner (CPT) lines of JIT.

 

If the aforesaid Loans and Trade Financing Facilities granted are fully utilised, the gearing ratio (i.e. Total Borrowing / Group Shareholders’ Equity) of JADI would increase to 24.31% as compared to 0.04% based on the latest Audited Financial Statement of JADI for the financial year ended 31 March 2019.

 

None of the Directors and/or major shareholders of JADI and/or persons connected to them have any interest, direct or indirect, in the Proposed Borrowing.

 

The Board, having considered and deliberated on all aspects of the Proposed Borrowing, is of the opinion that the Proposed Borrowing is in the best interests of JADI.

 

This announcement is dated 15 January 2020.






Announcement Info

Company Name JADI IMAGING HOLDINGS BERHAD
Stock Name JADI
Date Announced 15 Jan 2020
Category General Announcement for PLC
Reference Number GA1-15012020-00007