MTN update

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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 

Companies

Aseana Properties Ltd. (ASPL)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today