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NATURAL BIO RESOURCES BERHAD ("NATBIO" OR "THE COMPANY") REVISION OF BANKING FACILITIES GRANTED TO NATBIO'S WHOLLY-OWNED SUBSIDIARY, POWER ROOT MARKETING SDN BHD ("PR MARKETING")

NATURAL BIO RESOURCES BERHAD

Type

Announcement
SubjectNATURAL BIO RESOURCES BERHAD ("NATBIO" OR "THE COMPANY")
REVISION OF BANKING FACILITIES GRANTED TO NATBIO'S WHOLLY-OWNED SUBSIDIARY, POWER ROOT MARKETING SDN BHD ("PR MARKETING")

Contents :

The Board of Directors of NATBIO wishes to announce that its wholly-owned subsidiary, PR Marketing has on 26th December 2007 accepted the Revision of Banking Facilities granted by Standard Chartered Bank Malaysia Berhad of Taman Johor Jaya, Johor.


The salient revisions for the banking facilities are as follows:

Previous Banking FacilitiesRevised Banking Facilities
Overall LimitRM5,000,000-00 amongst others comprising facility type of overdraft and bankers acceptance.RM9,500,000-00 amongst others comprising facility type of overdraft and bankers acceptance.
Security* First Party Letter of Set-Off over fixed deposits in the name of PR Marketing;

* Joint and several guarantee by Low Chee Yen, Wong Fuei Boon and How Say Swee; and

* Corporate Guarantee by Power Root (M) Sdn Bhd, a wholly-owned subsidiary of NATBIO
* Corporate Guarantee by NATBIO

The Revision of Banking Facilities is not expected to have any material effect on the earnings per share, net tangible assets per share, share capital and substantial shareholders' shareholding of the Company for the financial year ending 29th February 2008.


This announcement is dated 27th December 2007



Announcement Info

Company NameNATURAL BIO RESOURCES BERHAD  
Stock Name NATBIO    
Date Announced27 Dec 2007  
CategoryGeneral Announcement
Reference NoC&-071227-31117



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