PROVISION OF FINANCIAL ASSISTANCE

COMPUGATES HOLDINGS BERHAD

Type Announcement
Subject PROVISION OF FINANCIAL ASSISTANCE
Description
COMPUGATES HOLDINGS BERHAD ("CHB" OR THE "COMPANY")
 - UPDATE ON FINANCIAL ASSISTANCE PURSUANT TO PARAGRAPH 8.23(1)(ii)AND PRACTICE NOTE 11 OF THE MAIN MARKET LISTING REQUIREMENTS

The Board of Directors of CHB wishes to announce that pursuant to Paragraph 8.23(1)(ii) and Practice Note 11 of the Main Market Listing Requirements, the aggregate amount of financial assistance provided by the following parties as at 30 September 2019 is as follows: -

  1. CHB to Sony Malaysia Sdn Bhd (“Sony”) in the form of corporate guarantee for the credit terms extended to Compugates Sdn Bhd (“CSB”), a wholly-owned subsidiary of CHB, for the supply of goods and/or services supplied by Sony to CSB, for an amount of RM1.0 million; and
  2. Compugates Sabah Sdn Bhd, a subsidiary of Compugates Marketing Sdn Bhd, which in turn is a wholly-owned subsidiary of CHB to Tascon Enterprise and IZ-An Corporation (M) Sdn Bhd in the form of security deposit of RM7,497.50 and RM6,000.00 respectively.

The provision of the financial assistance did not have material financial effect on the net assets, gearing, earnings, share capital and substantial shareholders’ shareholdings of CHB for the quarter ended 30 September 2019.

 

This announcement is dated 27 November 2019.






Announcement Info

Company Name COMPUGATES HOLDINGS BERHAD
Stock Name COMPUGT
Date Announced 27 Nov 2019
Category General Announcement for PLC
Reference Number GA1-25112019-00106