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Pursuant to Rule 9.04 of the Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of SCAN wishes to announce that the Company has accepted a financing facility, namely “Bai Al-Inah” Project Financing amounting to approximately RM 6.25 million (“the Facility”), granted by Malaysian Debt Ventures Berhad (“MDV”).
The Facility comprises of the following:
(i) Project Line 1 (“PL1”) of RM 4.00 million which is to finance related expenses in relation to the “Perkhidmatan Sokongan Keselamatan Rangkaian ICT Sektor Awam Dan Perkhidmatan Menyenggara Perkakasan, Perisian, Aplikasi Serta Sistem Rangkaian Prisma Secara Komprehensif” for Unit Permodenan Tadbiran Dan Perancangan Malaysia (“MAMPU”) (“PL1 Project”) (in relation to the announcement dated 17 November 2008); and
(ii) Bank guarantee of approximately RM2.25 million which is to secure advance performance bank guarantee (“APBG”) in favour of MAMPU to guarantee the performance by the Company in relation to the PL1 Project therewith.
The tenure for the above Facility is thirty (30) months for the PL1 and up to thirty six (36) months (inclusive of defect liability period) for the APBG.
The acceptance of the Facility will not have any impact on the net assets and share capital of the Group. However,
(a) the above Facility will increase the Company’s borrowing by RM4.00 million; and
(b) the profit rate and bank guarantee fees charged by MDV on the Facility will be charged to the income statement of the consolidated income statement of SCAN, thus affecting its earnings. Nevertheless, the PL1 Project is expected to contribute positively to the earnings of the Company upon completion of the project.
None of the Directors and/or substantial shareholders of the Company have any interest, direct or indirect, in the Facility.
This announcement is dated 10 March 2009. |
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