Friday 29 Mar 2024
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KUALA LUMPUR (Feb 21): Scomi Group Bhd said today it has not defaulted on Scomi Rail Bhd's (SRB) RM113.96 million loan from Malayan Banking Bhd (Maybank) under a notice of demand dated January 31, 2019 since the parties involved have agreed to an extension of time until March 8, 2019 for Scomi Group to revert on the matter.

"We refer to our announcements dated February 13, 2019 and February 15, 2019," oil and gas support services provider Scomi Group said in a statement to Bursa Malaysia today.

In the filing on February 13, Scomi Group said it had on February 8, 2019 received the notice of demand dated January 31, 2019 from Maybank for the RM113.96 million "due to failure by SRB to pay the default." 

Scomi Group said Maybank reserves the right to take steps to dispose of the shares of a Scomi Group subsidiary that was secured against the bank facilities in the event the amount demanded is not paid.

SRB is a wholly-owned subsidiary of Scomi Engineering Bhd, which in turn is a wholly-owned subsidiary of Scomi Group, according to the filing.


 

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