Vincent Tan’s investment holding company True Ascend revises maturity date of bonds under RM1b scheme

TheEdge Wed, Apr 13, 2022 11:14am - 2 months View Original

KUALA LUMPUR (April 13): Berjaya Corp Bhd founder Tan Sri Vincent Tan Chee Yioun’s investment holding company True Ascend Sdn Bhd has revised the maturity date of bonds issued under True Ascend’s RM1 billion bond scheme to May 13, 2022 from May 16, 2022.

This is because May 16, 2022 (Monday) will be a public holiday in conjunction with Wesak Day which falls on May 15, 2022 (Sunday).

"Please be informed that stock code UF200271 which matures on May 16, 2022 has been adjusted to mature on May 13, 2022 as there will [be] a public holiday on May 16, 2022,” said Kenanga Investment Bank Bhd, which is the facility agent for True Ascend’s RM1 billion commercial papers/medium term notes programme.

Kenanga said this on Wednesday (April 13) in a filing with Bank Negara Malaysia’s Fully Automated System for Issuing/Tendering (FAST) website.

The filing by Kenanga, however, did not specify the value besides the annual coupon or interest rate of bonds issued under True Ascend’s RM1 billion bond scheme.

According to CBonds' website, True Ascend's stock code UF200271 refers to a RM50 million bond programme which pays an annual interest rate of 12.5%.

Tan’s ownership of True Ascend is shown in 7-Eleven Malaysia Holdings Bhd’s annual report and Bursa filings.

According to 7-Eleven Malaysia’s annual report, Tan owns an indirect 23.94% stake in 7-Eleven Malaysia by virtue of his interests in companies including True Ascend as at March 31, 2021.

Tan also owns a direct stake of 27.96% in 7-Eleven Malaysia, according to the company’s annual report.

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