• RM576 Save up to RM288 with the Yearly Premium Plan (Limited Time Only)
  • RM480 Save up to RM240 with the Yearly Advanced Plan (Limited Time Only)
Subscribe Now
premium Subscription Plan
add free StockBiz
YouTube MS Production

Last Price Change Volume
Open: Day Range: Prev Close:


LEASE FINANCE OF SHIPS

MALAYSIAN BULK CARRIERS BERHAD

Type

Announcement
SubjectLEASE FINANCE OF SHIPS

Contents :

1. Details of Lease Finance

      Malaysian Bulk Carriers Bhd (“MBC”) announces that it has entered into a lease finance totaling approximately US$140million with Lloyds TSB Leasing Limited, UK (which specializes in the lease financing of ships) for its 3 post-panamax bulk carriers and 2 MR product tankers, which are currently under construction. The post panamax were part of a series of five newbuildings which were contracted about 2 years ago and the MR were recent newbuilding contracts. The transaction will require the novation of the existing shipbuilding contracts to Lloyds TSB Leasing Ltd. This transaction enables the Group to secure 100% of the vessel costs at favourable rates.

2. Financial Effect

The financing does not have any effect on the share capital, net tangible assets and the major shareholders’ shareholding in the Company.

3. Directors and Major Shareholders’ Interest

As far as the Directors are aware, none of the Directors, major shareholders and/or persons connected to them has any interest, direct or indirect, in the financing.


Announcement Info

Company NameMALAYSIAN BULK CARRIERS BERHAD  
Stock Name MAYBULK    
Date Announced26 May 2005  
CategoryGeneral Announcement
Reference NoMB-050526-59330


Close
New Feature
MS Academy
AI StockMaster. Beat The Market! Checking MS Signal
DETECT REAL-TIME STOCK MOVEMENT
X
(InvestorPro Plan Only)
Complimentary access on Premium Plan*
What is AI StockMaster?
Window Alert On-Screen Alert X
X