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DISPOSAL BY BANDAR SUBANG SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF FARLIM, OF ITS INVESTMENT IN THE ENTIRE 100% REGISTERED CAPITAL OF FARLIM TRADING (SHANDONG) CO. LTD. TO SUMMER SALUTE SDN. BHD. FOR A TOTAL CONSIDERATION OF RM11,500,000.00

FARLIM GROUP (MALAYSIA) BHD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-27062022-00003
Subject DISPOSAL BY BANDAR SUBANG SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF FARLIM, OF ITS INVESTMENT IN THE ENTIRE 100% REGISTERED CAPITAL OF FARLIM TRADING (SHANDONG) CO. LTD. TO SUMMER SALUTE SDN. BHD. FOR A TOTAL CONSIDERATION OF RM11,500,000.00
Description
FARLIM GROUP (MALAYSIA) BHD. (FARLIM OR THE COMPANY)  
DISPOSAL BY BANDAR SUBANG SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF FARLIM, OF ITS INVESTMENT IN THE ENTIRE 100% REGISTERED CAPITAL OF FARLIM TRADING (SHANDONG) CO. LTD. TO SUMMER SALUTE SDN. BHD. FOR A TOTAL CONSIDERATION OF RM11,500,000.00
Query Letter Contents

We refer to your Company's announcement dated 23 June 2022, in respect of the aforesaid matter.

 

In this connection, kindly furnish Bursa Malaysia Securities Berhad with the following additional information for public release:-

 

1. Summary of 3 years historical financial information of FTSCL, including but not limited to: revenue, profit before tax, profit after tax, net assets, total assets, borrowing, cash and cash equivalent.

 

2. To state whether FTSCL owns any real estate or properties. If so, to provide the details pursuant to Part C of Appendix 10A of the Main Market Listing Requirements.

 

3. To specify all the net realisable assets of FTSCL and quantification of the amount.

 

4. To state whether Farlim or any of its subsidiaries has provided any guarantee or act as corporate guarantor for any financial facilities obtained by FTSCL. If yes, to disclose and ensure the corporate guarantee will be fully discharged prior to the completion of the Disposal.

 

5. To provide the breakdown of the proposed utilisation of proceeds for working capital purposes and the timeline for full utilisation of the proceeds.

 

6. To provide the basis and computation in arriving at the estimated proforma gain arising from the Disposal of RM12.545 million.

 

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully

 

 

 

 
   

Listing

Regulation

 

cc:-   Market Surveillance, Securities Commission

Reference is made to the letter from Bursa Malaysia Securities Berhad (Bursa Securities) dated June 27, 2022 received via email on June 27, 2022 subsequent to the announcement made by Farlim on June 23, 2022 in relation to the disposal by Bandar Subang Sdn Bhd, a wholly-owned subsidiary of Farlim, of its investment in the entire 100% Registered Capital of Farlim Trading (Shandong) Co. Ltd. to Summer Salute Sdn Bhd for a total consideration of RM11,500,000.00.

 

The Board of Directors of Farlim is pleased to furnish further information requested for by Bursa Securities as set out in the attachment hereto.

 

This announcement is dated June 28, 2022. 



Please refer attachment below.



Announcement Info

Company Name FARLIM GROUP (MALAYSIA) BHD
Stock Name FARLIM
Date Announced 28 Jun 2022
Category General Announcement for PLC
Reference Number GA1-28062022-00021




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