| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description |
Disposal of Properties by Luxury Parade Sdn. Bhd. (wholly-owned subsidiary of Bonia Corporation Berhad) to Future Diversity Sdn. Bhd. (related party) |
|
|
|
Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Company’s announcement dated 27 November 2018 (Reference Number: GA1-27122018-00066) in relation to the Disposal.
Further to Company’s announcement dated 27 November 2018 in relation to the Disposal, the Board wishes to provide the following additional information and restate BCB’s intention of the application of the sale proceeds:
1. Other details of the Properties:
|
|
Property1 |
Property2 |
|
Lease expiry |
29 June 2087 |
29 June 2087 |
|
Age of building erected thereon |
20 years |
20 years |
2. Intended application of Sale Proceeds
The sale proceeds of RM3,600,000.00 from the Disposal will be applied to repay LPSB’s outstanding loans and are expected to be utilised as follow:
|
Details of Utilisation |
Estimated Utilisation time frame |
RM |
|
Sale proceeds |
|
3,600,000.00 |
|
Proposed full settlement of a term loan of LPSB (*) |
4 months |
(1,800,000.00) |
|
Proposed repayment of installments of certain term loans of LPSB (#) |
6 months |
(1,800,000.00) |
|
|
|
Nil |
Notes:
(*) The settlement of the term loan is expected to result in interest savings of approximately RM108,000.00 per annum based on the average effective interest rate of 6% per annum.
(#) This amount will be lower if LPSB is required to settle the real property gains tax arising from the Disposal.
This announcement is dated 28 December 2018.
| Company Name | BONIA CORPORATION BERHAD |
| Stock Name | BONIA |
| Date Announced | 28 Dec 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28122018-00122 |
