Pan Malaysia has entered into a loan agreement with its 51%-owned subsidiary A & W (Malaysia) Sdn Bhd for the provision of financial assistance in the form of a shareholders’ loan facility of RM5,000,000
This was with regards to a shareholders’ agreement back in October 2021 entered between PMC and Inter Mark Resources Sdn Bhd, whereby IMRSB will issue a letter of guarantee and indemnity to PMC for RM2,450,000 which is calculated based on the loan amount of RM5,000,000 multiply with IMRSB’s shareholding of 49% in A & W Malaysia.
A & W Malaysia was incorporated in Malaysia in September 1965 as a limited company under the name of A. & W. of Malaysia Sdn Bhd and subsequently changed its name to A & W (Malaysia) Sdn Bhd in January 2000. Its total issued share capital is RM110,487,719 comprising 62,000,000 ordinary shares. A & W Malaysia is a 51%-owned subsidiary of PMC. The principal activity of A & W Malaysia is operating a chain of restaurants under the franchise name A&W.
PMC views the financial assistance to allow the company to earn a better rate of return for its surplus funds during the tenure of the loan.
