PRKCORP

0.450

+0.03 (+7.1%)

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT

PERAK CORPORATION BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
MONTHLY ANNOUNCEMENT
Description
MONTHLY ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcements dated as follows:

1.         11 February 2020 pursuant to the Practice Note 17 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad;
2.         17 October 2019 in relation to the default in payment to AFFIN Hwang Investment Bank Berhad;
3.         11 February 2020 in relation to the default in payment to Affin Islamic Bank Berhad;
4.         28 February 2020 in relation to the cross default in payment to CIMB Bank Berhad; and
5.         27 July 2020 in relation to the decision of the High Court of Ipoh.


With reference to the Company’s announcements made on the following dates:

1.         11 February 2020, 2 March 2020, 1 April 2020, 4 May 2020, 1 June 2020, 1 July 2020, 3 August 2020, 1 September 2020, 1 October 2020, 2 November 2020, 1 December 2020, 4 January 2021, 2 February 2021 and 1 March 2021 in relation to the Company being classified as a PN17 Company pursuant to PN17 of the Listing Requirements of Bursa Malaysia;
2.         17 October 2019, 18 November 2019, 18 December 2019, 17 January 2020, 28 January 2020, 11 February 2020, and 10 March 2020 in relation to the default in payment of the syndicated term loan facility to the lenders by ATP;
3.         11 February 2020, 12 February 2020, 10 March 2020 and 14 April 2020 in relation to the default in payment of the Musharakah Mutanaqisah Term Financing-i and Tawarruq Revolving Credit-i to AIBB by PCB;
4.         28 February 2020, 2 March 2020, 10 March 2020, 31 March 2020, 2 April 2020 and 14 April 2020 in relation to the cross default in payment of the Revolving Credit to CIMB by PCB; and
5.         27 July 2020, 3 August 2020, 19 October 2020 and 13 January 2021 in relation to the decision of the High Court of Ipoh granting the Company and PCBD to convene the Creditors’ Meeting,

on behalf of the Board of Directors of the Company, we wish to inform that the Company had on 26 March 2021 issued an Explanatory Statement together with the notice to convene the adjourned meeting of Scheme Creditors to be held on 19 April 2021 pursuant to the Section 366 of the Companies Act 2016.

Further details will be announced as and when there are material developments on its proposed regularisation plan.

Pursuant to the directive dated 26 March 2020 issued by Bursa Malaysia in relation to the extension of time for the submission of the regularisation plan, the Company has approximately ten (10) months to submit its regularisation plan to the relevant authorities for approval.

This announcement is dated 1 April 2021.






Announcement Info

Company Name PERAK CORPORATION BERHAD
Stock Name PRKCORP
Date Announced 01 Apr 2021
Category General Announcement for PLC
Reference Number GA1-01042021-00010