TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS HANDAL RESOURCES BERHAD ("HRB" or "the Company") Share Sale Agreement ("SSA") with En. Yazaid Bin Yaakob and Cik Atiqah Ashad Durrah Binti Yazaid for disposal of 980,000 ordinary shares of RM1.00 representing the entire issued and paid up capital of Handscomms Sdn. Bhd. a wholly owned subsidiary of HRB (the Proposed Disposal).

Amended Announcements
Please refer to the earlier announcement reference number: GA1-17092015-00061

HANDAL RESOURCES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
HANDAL RESOURCES BERHAD ("HRB" or "the Company")

Share Sale Agreement ("SSA") with En. Yazaid Bin Yaakob and Cik Atiqah Ashad Durrah Binti Yazaid for disposal of 980,000 ordinary shares of RM1.00 representing the entire issued and paid up capital of Handscomms Sdn. Bhd. a wholly owned subsidiary of HRB (the Proposed Disposal).

Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the announcement dated 17 September 2015.

Reference is made to the Company's announcement dated 17 September 2015.

The Board of Directors of Handal Resources Berhad wishes to announce :

(i)         that the Proposed Disposal has been completed.

(ii)        that the last paragraph of item 6 of the said announcement should be corrected to read as follows:

 

6.        FINANCIAL EFFECTS

There will be an estimated loss on disposal in respect to the Group financial statements (as at 31 August 2015) of RM177,000.00 resulting from the Proposed Disposal.

The difference between the earlier computation of a gain on disposal (as at 31 August 2015) of RM321,000.00 and the final computation of a loss (as at 31 August 2015) on disposal of RM177,000.00  was due to the inadvertent omission of the reversal of consolidation adjustment in respect of reversal of impairment loss amounting to RM498,000.00 on the Company’s investment in Handscomms Sdn. Bhd. This impairment loss of RM498,000.00 was realised at Group level upon the disposal of this subsidiary.

This announcement is dated 7 December 2015.

 






Announcement Info

Company Name HANDAL RESOURCES BERHAD
Stock Name HANDAL
Date Announced 07 Dec 2015
Category General Announcement for PLC
Reference Number GA1-04122015-00016