SWKPLNT

2.230

(%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONS Variation between mandated estimated value and actual value of recurrent related party transactions (RRPT)

SARAWAK PLANTATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description 
Variation between mandated estimated value and actual value of recurrent related party transactions (RRPT)

Reference is made to Sarawak Plantation Berhad's ("SPB") Circular to Shareholders dated 29 June 2020 ("the Circular") in relation to the proposed renewal of existing shareholders' mandate and proposed new shareholders' mandate for RRPT of a revenue or trading nature ("proposed mandate"). This proposed mandate was approved by the shareholders at the Annual General Meeting held on 29 July 2020.

SPB wishes to announce that the actual value of RRPT entered into by its subsidiary, Sarawak Plantation Agriculture Development Sdn. Bhd. ("SPAD") with its related party, PSS Oil MIll Sdn. Bhd. ("PSS Oil Mill") had exceeded the estimated value by more than 10%. The details of the RRPT are as follows:

 

Type of RRPT Estimated Value as stated in the Circular (Estimated Value) Actual Value transacted from 29 July 2020 to 23 March 2021 Variation between the Actual Value and the Estimated Value Reason for the Variation
Purchase of Fresh Fruit Bunches ("FFB") RM2,000,000 RM2,215,000 RM215,000 or 10.75%

FFB purchase price per tonne was much higher compared to the estimated FFB price per tonne used to calculate the Estimated Value.

 

This announcement is dated 2 April 2021.



Announcement Info

Company Name SARAWAK PLANTATION BERHAD
Stock Name SWKPLNT
Date Announced 02 Apr 2021
Category General Announcement for PLC
Reference Number GA1-02042021-00054


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