Aseana Properties Limited MTN update
October 22 2024 - 4:41AM
RNS Regulatory News
RNS Number : 1433J
Aseana Properties Limited
22 October 2024
22 October 2024
Aseana Properties
Limited
("ASEANA" or the
"Company")
MTN update
The Board of Directors of Aseana
Properties Limited received a demand letter dated 21 October 2024
from the Solicitors Lee Hishammuddin Allen & Gledhill on the
payment of the medium term note ("MTN") amounting to RM 61 million
plus accrued interest of RM 4.74 million.
In 2011, Silver Sparrow, a 100%
subsidiary of Aseana Properties, established a RM 515 million
guaranteed MTN programme, guaranteed by OCBC Bank (Malaysia),
Malayan Bank Bhd and Bank Pembangunan Malaysia Bhd. Silver Sparrow
defaulted on 19/12/2023, and the guaranteed banks passed the loan
to the recovery team. The Board will appoint a legal and financial
team to discuss the loan restructuring with the bank recovery
team.
For
further information:
Aseana Properties Limited
Thong Kok
Cheong
k_c_thong@hotmail.com
Grant Thornton UK LLP
Philip Secrett, Elliot
Peters
+44 (0)207 383 5100
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