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TRANSOCEAN HOLDINGS BHD ("the Company") Monthly Status On Default In Payment Pursuant To Practice Note No. 1/2001 (“PN 1/2001”) of the Listing Requirements

TRANSOCEAN HOLDINGS BHD

Type

Announcement
SubjectTRANSOCEAN HOLDINGS BHD ("the Company")
Monthly Status On Default In Payment Pursuant To Practice Note No. 1/2001 (“PN 1/2001”) of the Listing Requirements

Contents :

Further to the announcements made on 15 June 2005 and 16 June 2005, the Company wishes to update on the banking facilities in default by the Company's 75% owned subsidiary, Transocean Biotec (M) Sdn Bhd ("TBM") to Malayan Banking Berhad ("MBB") as at 30 June 2005 as below:

Type of Facilities
Principal and Interest (RM)
Overdraft Facility
1,890,822.15
Term Loan
179,895.91
Total Outstanding
2,070,718.06

In compliance with Paragraph 3.2 of Practice Note 1/2001, the Company hereby announces that TBM is in the process of negotiation with MBB for the settlement of the said defaults by utilising the balance of the sale proceeds to be procured from the purchaser in relation to the disposal of TBM's properties.

This announcement is dated 14 July 2005.


Announcement Info

Company NameTRANSOCEAN HOLDINGS BHD  
Stock Name TOCEAN    
Date Announced14 Jul 2005  
CategoryGeneral Announcement
Reference NoCS-050714-41989



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