Announcements
Transactions (Chapter 10 Of Listing Requirements) : Recurrent Related Party Transactions
< BackMay 10, 2023
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RECURRENT RELATED PARTY TRANSACTIONS |
| Description | Variation between mandated estimated value and actual value of recurrent related party transaction (RRPT) |
Reference is made to Sarawak Plantation Berhad's (SPB) Circular to Shareholders dated 21 April 2022 (the Circular) in relation to the proposed renewal of existing shareholders' mandate and proposed new shareholders' mandate for RRPT of a revenue or trading nature (proposed mandate). The proposed mandate was approved by the shareholders at the Annual General Meeting held on 27 May 2022.
SPB wishes to announce that the actual value of the RRPT entered into by its subsidiary, Sarawak Plantation Agriculture Development Sdn. Bhd. (SPAD) with its related party, Ta Ann Plywood Sdn. Bhd., has exceeded the estimated value by more than 10%. The details of the RRPT are as follows:
| Type of RRPT | Estimated Value stated in the Circular (Estimated Value) | Actual Value transacted from 27 May 2022 to 8 May 2023 | Variation between Actual Value and Estimated Value | Reason for Variation |
| Sale of Seeds | RM172,000 | RM207,000 | RM35,000 or 20.3% above the Estimated Value | The actual quantity of seeds sold and the actual price per seed were both higher than that used to calculate the Estimated Value |
This announcement is dated 10 May 2023.
Announcement Info
| Company Name | SARAWAK PLANTATION BERHAD |
| Stock Name | SWKPLNT |
| Date Announced | 10 May 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-10052023-00026 |