MELEWAR

0.730

-0.025 (-3.3%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MELEWAR INDUSTRIAL GROUP BERHAD ("MIG" OR "THE COMPANY") RELATED PARTY TRANSACTION WITH MAA GROUP BERHAD

MELEWAR INDUSTRIAL GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
MELEWAR INDUSTRIAL GROUP BERHAD ("MIG" OR "THE COMPANY")
RELATED PARTY TRANSACTION WITH MAA GROUP BERHAD

The Board of Directors of MIG wishes to announce that pursuant to Rule 10.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, 3Bumi Trading Sdn Bhd (formerly known as Melewar Steel Engineering Sdn Bhd) (“3Bumi Trading”), a wholly owned subsidiary of 3Bumi Sdn Bhd (“3Bumi”) who in turn is a wholly owned subsidiary of MIG has entered into a Related Party Transaction with Maax Factor Sdn Bhd (“Maax Factor”), a wholly owned subsidiary of MAA Corporation Sdn Bhd who in turn is a wholly owned subsidiary of MAA Group Berhad.

 

As the ultimate major shareholder of both Maax Factor and 3Bumi Trading is Khyra Legacy Berhad, the said Factoring and Pre-Factoring Facility granted by Maax Factor to 3Bumi Trading is considered a Related Party Transaction.

 

The details of the announcement are as per the attachment.

 

This announcement is dated 8 March 2021.




Please refer attachment below.



Announcement Info

Company Name MELEWAR INDUSTRIAL GROUP BERHAD
Stock Name MELEWAR
Date Announced 08 Mar 2021
Category General Announcement for PLC
Reference Number GA1-05032021-00017