Scomi Group said it had entered into a loan agreement with Rentak Rimbun Sdn Bhd in relation to the provision of financial assistance to Scomi Capital amounting to RM727,500.00.
According to the record, RRSB is a substantial shareholder of the company with En Shah Hakim @ Shahzanim Bin Zain has to have a shareholding interest in the company and is also deemed a substantial shareholder of SGB through his direct and indirect shareholding in the Company.
The financial assistance is meant for the purpose of meeting Scoimi’s working capital requirements, also the group says the loan is interest-free with one-off management fees of RM7,275.00 payable on repayment of the loan. The loan will be for a tenure of 2 months.
In return, Scomi Group is to pledge 100,000 ordinary shares owned by the group representing 100% shareholding in Scomi Capital as security for the Financial Assistance.
The group added the assistance will not have any effect on the issued and paid-up share capital, substantial shareholders’ shareholding, and consolidated NA of SGB.
