Sarawak Plantation Bhd

07/29/2021 | Press release | Distributed by Public on 07/29/2021 20:47

Transactions (Chapter 10 Of Listing Requirements) : Recurrent Related Party Transactions

Reference is made to Sarawak Plantation Berhad's ('SPB') Circular to Shareholders dated 29 June 2020 ('the Circular') in relation to the proposed renewal of existing shareholders' mandate and proposed new shareholders' mandate for RRPT of a revenue or trading nature ('proposed mandate'). This proposed mandate was approved by the shareholders at the Annual General Meeting held on 29 July 2020.

SPB wishes to announce that the actual value of RRPT entered into by its subsidiary, Sarawak Plantation Agriculture Development Sdn. Bhd. ('SPAD') with its related party, Key Jaya Trading Sdn. Bhd. ('Key Jaya') has again exceeded the estimated value by more than 10% since the date of its last announcement on 29 June 2021. The details of the RRPT are as follows:

Type of RRPT Estimated Value as stated in the Circular (Estimated Value) Actual Value transacted from 29 July 2020 to 20 April 2021 (as per 21 April 2021 announcement) Actual Value transacted from 21 April 2021 to 17 May 2021 (as per 17 May 2021 announcement) Actual Value transacted from 18 May 2021 to 8 June 2021 (as per 8 June 2021 announcement) Actual Value transacted from 9 June 2021 to 29 June 2021 (as per 29 June 2021 announcement) Actual Value from 30 June 2021 to 27 July 2021 (Actual Value) Variation between Actual Value and Estimated Value Reasons for the Variation
Purchase of Diesel RM1,911,000 RM2,197,000 or 14.97% above the Estimated Value RM226,000 or 11.83% above the Estimated Value RM232,000 or 12.14% above the Estimated Value RM273,000 or 14.29% above the Estimated Value RM217,000 RM217,000 or 11.36% above the Estimated Value

1. The price per litre of diesel was higher compared to the estimated price per litre used to calculate the Estimated Value.

2. Due to operational requirements, the quantity of diesel purchased was also higher compared to the estimated quantity used to calculate the Estimated Value.

This announcement is dated 29 July 2021.