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Announcements

Transactions (Chapter 10 Of Listing Requirements):Recurrent Related Party Transactions

< BackApr 14, 2015

Type

Announcement

Subject

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS

Description

Announcement on Recurrent Related Party Transactions

Sarawak Plantation Berhad ("SPB") wishes to announce that the actual value of the Recurrent Related Party Transaction ("RRPT") entered into with KUB Sepadu Sdn. Bhd. ("KUB") pursuant to the existing shareholders' mandate obtained on 13 June 2014 has exceeded its estimated value as stated in the Circular to Shareholders dated 21 May 2014 ("the Circular") by more than ten percent (10%). The details are as set out in the table below:

Type of RRPT

Estimated Value as stated in the Circular (“Estimated Value”)

Actual Value transacted from 13.06.2014 to 31.03.2015 (“Actual Value”)

Variation between Actual Value and Estimated Value

Reasons for the Variation

Purchase of Fresh Fruit Bunches (FFB)

RM15,000,000-00

RM16,605,289-22

10.7%

(a)Lower current CPO price compared to the CPO price used to calculate Estimated Value in the Circular

(b)Lower OER was awarded due to penalty claims on quality

(c)The above were offset by higher volume delivered by KUB compared to the volume used to calculate the Estimated Value in the Circular

This announcement is dated 14 April 2015.

Announcement Info

Company Name	SARAWAK PLANTATION BERHAD
Stock Name	SWKPLNT
Date Announced	14 Apr 2015
Category	General Announcement
Reference No	SP-150414-40783