HANDAL RESOURCES BERHAD (“HRB” or “the Company”) RECURRENT RELATED PARTY TRANSACTIONS EXCEEDED ESTIMATED VALUE

HANDAL RESOURCES BERHAD

TypeAnnouncement
SubjectHANDAL RESOURCES BERHAD (“HRB” or “the Company”)
RECURRENT RELATED PARTY TRANSACTIONS EXCEEDED ESTIMATED VALUE
ContentsThe Company wishes to announce that as at 9 November 2010 the total amount of material and crane spare part purchased (“Recurrent Transaction”) from the related party, Excell Crane & Hydraulics Inc (“ECHI”) has exceeded the estimated value as disclosed in the Circular to Shareholders dated 24 May 2010 in relation to the Recurrent Related Party Transactions as Table A below.

The variation arose as a result of its wholly-owned subsidiary Handal Offshore Services Sdn Bhd securing more fabrication jobs than anticipated and procured more material and crane spare parts from its related party, ECHI.

This announcement is dated 9 November 2010.


Announcement Info

Company NameHANDAL RESOURCES BERHAD  
Stock Name HANDAL    
Date Announced9 Nov 2010  
CategoryGeneral Announcement
Reference NoCA-101109-57721