Pursuant to Rule 8.25(1)(iii) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company is pleased to announce that it had provided financial assistance in the form of advances and corporate guarantee (“Financial Assistance”) to its 90%-owned subsidiary company namely, PLYTEC Polymer Sdn. Bhd. (“PPSB”) as of 31 March 2025, as set out in the table below:-
Type of Financial Assistance
|
Amount as at 31 March 2025 (RM)
|
Advances to PPSB
|
680,000
|
Corporate guarantee in favour of AmBank (M) Berhad for the banking facilities granted to PPSB
|
8,000,000
|
Total
|
8,680,000
|
The Financial Assistance provided was to facilitate the operations and financial affairs of PPSB.
The Financial Assistance provided does not have any material effect on the earnings per share, net assets per share and gearing of PLYTEC group of companies.
This announcement is dated 26 May 2025.