TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS Utilisation of sale proceeds of RM905.5 million arising from the disposal of 20% of the issued share capital of Hap Seng Credit Sdn Bhd ("HSCSB Sale Proceeds" and "HSCSB Disposal" respectively)
| HAP SENG CONSOLIDATED BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | Utilisation of sale proceeds of RM905.5 million arising from the disposal of 20% of the issued share capital of Hap Seng Credit Sdn Bhd ("HSCSB Sale Proceeds" and "HSCSB Disposal" respectively) |
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Reference is made to the Company’s announcements on 2 March 2018, 15 May 2018, 22 May 2018, 25 May 2018, 30 May 2018, 8 June 2018 and 13 May 2020 (“Announcements”) as well as the circular to shareholders dated 16 May 2018 (“Circular”) in relation to the HSCSB Disposal. Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Announcements or Circular.
The Board of Directors wishes to announce that the Company has on even date contributed the entire HSCSB Sale Proceeds of RM905.5 million into HSCSB, whilst LSHCL, the 20% shareholder of HSCSB, proportionately contributed RM226.375 million into HSCSB, both in the form of share capital.
Accordingly, the paid-up share capital of HSCSB has increased from RM1,330,100,000 to RM2,461,975,000 on even date. The capital injection is to facilitate the refinancing of HSCSB loan disbursements to the various sub-sectors pursuant to the Circular.
This announcement is dated 28 July 2021.
cc: Securities Commission |
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Announcement Info
| Company Name | HAP SENG CONSOLIDATED BERHAD |
| Stock Name | HAPSENG |
| Date Announced | 28 Jul 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28072021-00060 |