SAB

3.110

+0.11 (+3.7%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONS VARIATION BETWEEN THE ACTUAL VALUE OF RECURRENT RELATED PARTY TRANSACTIONS OF REVENUE OR TRADING NATURE TRANSACTED FROM THE ESTIMATED VALUE

SOUTHERN ACIDS (M) BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description 
VARIATION BETWEEN THE ACTUAL VALUE OF RECURRENT RELATED PARTY TRANSACTIONS OF REVENUE OR TRADING NATURE TRANSACTED FROM THE ESTIMATED VALUE

Reference is made to Southern Acids (M) Berhad (“SAB”)’s Circular to Shareholders dated 26 July 2024 (“the Circular”) in relation to the proposed renewal of existing shareholders’ mandate for RRPT of a revenue or trading nature (“Proposed Mandate”). The Proposed Mandate was approved by the shareholders of SAB at its 43rd Annual General Meeting held on 26 August 2024.

 

SAB wishes to inform that the actual value of RRPT entered into by its subsidiary, PT Mustika Agro Sari (“PTMAS”), with the related party, PT Mikroba Anugerah Perkasa (“PTMAP”), has exceeded the estimated value as disclosed in the Circular by more than 10%. Details of the RRPT variation are set out in the table below:

 

Nature of RRPT

Estimated value of the RRPT as disclosed in the Circular

(RM’000)

Actual value transacted from 27 August 2024 to 17 Feb 2025

(RM’000)

Difference between Actual value and Estimated value

(RM’000)

Percentage of difference between Actual Value and Estimated Value

(%)

Reason for Variation

Purchase of FFB from PTMAP by PTMAS

 

1,200

 

2,729

 

1,529

 

127%

Increased in the actual average price of CPO and FFB against the estimated price; and 

increased in FFB production by PTMAP, as PTMAP acquired and in control of 600 hectare matured oil palm estate post the AGM of SAB held on 26 August 2024.

The RRPT value for this transaction will continue to be above the estimated value until a new mandate obtained from shareholders at the upcoming AGM.

 

 

This announcement is dated 19 February 2025.



Announcement Info

Company Name SOUTHERN ACIDS (M) BERHAD
Stock Name SAB
Date Announced 19 Feb 2025
Category General Announcement for PLC
Reference Number GA1-19022025-00068


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