MULTIPLE PROPOSALS MALAYSIAN BULK CARRIERS BERHAD ("MBC" OR THE "COMPANY") (I) PROPOSED COLLABORATION; (II) PROPOSED DIVERSIFICATION; AND (III) PROPOSED RRPT MANDATE (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| MALAYSIAN BULK CARRIERS BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | MALAYSIAN BULK CARRIERS BERHAD ("MBC" OR THE "COMPANY")
(I) PROPOSED COLLABORATION;
(II) PROPOSED DIVERSIFICATION; AND
(III) PROPOSED RRPT MANDATE
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of the Company, Kenanga Investment Bank Berhad wishes to announce that the Company had on 15 August 2022 entered into a conditional collaboration agreement with Tunas Manja Sdn Bhd to undertake grocery retail business and other grocery retail related businesses (“Grocery Business”) (“Proposed Collaboration”).
Further to the Proposed Collaboration, the Company also proposes to undertake the following:-
(i) diversification of the business of MBC and its subsidiaries (collectively the “MBC Group” or “Group”) to include the Grocery Business (“Proposed Diversification”); and
(ii) new recurrent related party transactions of a revenue or trading nature expected to be entered into by the MBC Group with certain related parties following the Proposed Collaboration and Proposed Diversification.
The details of the Proposals are set out in the attachment.
This announcement is dated 15 August 2022. |
|
Please refer attachment below.
Announcement Info
| Company Name | MALAYSIAN BULK CARRIERS BERHAD |
| Stock Name | MAYBULK |
| Date Announced | 15 Aug 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-15082022-00025 |