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ACCEPTANCE OF LOAN FACILITY OF RM85.52 MILLION FROM MAYBANK ISLAMIC BERHAD

SILK HOLDINGS BERHAD

TypeAnnouncement
SubjectACCEPTANCE OF LOAN FACILITY OF RM85.52 MILLION FROM MAYBANK ISLAMIC BERHAD
Contents1. INTRODUCTION

SILK Holdings Bhd (“SILK”) wishes to announce that its 70% - owned subsidiary, Jasa Merin (Malaysia) Sdn Bhd (“JM”) held through wholly owned AQL Aman Sdn Bhd had on 4 May 2010 accepted a Musharakah Mutanaqisah Term Financing (“MMTF”) facility for the aggregate sum of RM85.52 million from Maybank Islamic Berhad.

Salient terms of the MMTF Facility as follows:-

(a) Borrower: JM

(b) Purpose: To part finance the construction of two (2) units Anchor Handling Tug Supply vessels.

(c) Tenure: 8 years

2. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors or major shareholders or persons connected to the Directors or major shareholders have interest, direct or indirect, in the transaction.

3. DIRECTORS' STATEMENT

The Board of SILK is of the opinion that the Facility is in the best interest of SILK Group and the terms and conditions are fair and reasonable.

This announcement is dated 4 May 2010.


Announcement Info

Company NameSILK HOLDINGS BERHAD  
Stock Name SILKHLD    
Date Announced4 May 2010  
CategoryGeneral Announcement
Reference NoCA-100430-61115


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