OTHERS COASTAL CONTRACTS BHD. ("COASTAL" OR THE "COMPANY") PROPOSED PROVISION OF FINANCIAL ASSISTANCE TO COASTOIL DYNAMIC S.A. DE C.V. ("COASTOIL DYNAMIC" OR THE "JOINT VENTURE COMPANY") ("PROPOSED PROVISION OF FINANCIAL ASSISTANCE")
| COASTAL CONTRACTS BHD |
| Type | Announcement |
| Subject | OTHERS |
| Description | COASTAL CONTRACTS BHD. ("COASTAL" OR THE "COMPANY")
PROPOSED PROVISION OF FINANCIAL ASSISTANCE TO COASTOIL DYNAMIC S.A. DE C.V. ("COASTOIL DYNAMIC" OR THE "JOINT VENTURE COMPANY") ("PROPOSED PROVISION OF FINANCIAL ASSISTANCE") |
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On behalf of the Board of Directors of Coastal (“Board”), UOB Kay Hian Securities (M) Sdn Bhd (“UOBKH”) wishes to announce that Coastal Marine Pte. Ltd. (a wholly-owned subsidiary of Coastal) (“CMPL”) is proposing to provide financial assistance of up to USD220.00 million (equivalent to approximately RM924.00 million) to Coastoil Dynamic in stages and subject to the funding requirements of Coastoil Dynamic.
The details of the Proposed Provision of Financial Assistance are set out in the attachment.
This announcement is dated 19 January 2022. |
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Please refer attachment below.
Announcement Info
| Company Name | COASTAL CONTRACTS BHD |
| Stock Name | COASTAL |
| Date Announced | 19 Jan 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19012022-00089 |