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Variation Between Actual Value Of Recurrent Related Party Transactions ("rrpt") Transacted From Estimated Value

BackOct 08, 2009
Date Announced
:
 08/10/2009  



Type
:
 Announcement
Subject
:
FREIGHT MANAGEMENT HOLDINGS BHD (“FMHB”)
Variation between Actual Value of Recurrent Related Party Transactions (“RRPT”) transacted from Estimated Value

Contents
:
Reference is made to FMH’s Circular to Shareholders relating to the Proposed Renewal of and New Shareholders’ Mandate for Recurrent Related Party Transactions of a revenue of trading nature (“Proposed Mandate”) dated 03 November 2008 (‘the RRPT Circular”). The ordinary resolution on the Proposed Mandate had been approved by the shareholders of FMHB at the Annual General Meeting held on 25 November 2008.

Pursuant to Paragraph 10.09(2)(e) of Bursa Malaysia Securities Berhad Main Market Listing Requirements and Paragraph 2.5 of Practice Note 12, FMHB now wishes to announce the variation in the actual value of the RRPT transacted between Poo Hua Pte Ltd and TCH Marine Pte Ltd from the estimated value as disclosed in the RRPT Circular as set out in the Table below.

The actual value transacted increased substantially from the estimated value due to the higher than anticipated level of business activities.


Announcement Details :

Related Party
Nature of Recurrent Related Party transactions with FMH Group Estimated aggregate value as disclosed in the RRPT Circular
“Estimated Value” (RM)		 Actual value transacted from 25 November 2008 to 30 September 2009
“Actual Value”
(RM)
 % of variance of Actual Value from Estimated Value
Poo Hua Pte Ltd TCH Marine Pte Ltd provides barge services to Poo Hua Pte Ltd
6,600,000
9,951,375
50.78%