OTHERS Article appeared in THE EDGE MALAYSIA dated 9 September 2019 entitled “Sarawak Cable seeks CDRC assistance” (“the Article”)

SARAWAK CABLE BERHAD

 

Type Announcement
Subject OTHERS
Description
Article appeared in THE EDGE MALAYSIA dated 9 September 2019 entitled "Sarawak Cable seeks CDRC assistance" ("the Article")

In response to the Article, Sarawak Cable Berhad (“the Company”) wishes to announce that the Company had received a letter dated 7 August 2019 (“the Letter”) issued by the Corporate Debt Restructuring Committee (“CDRC”) under the purview of Bank Negara, approving the Company’s application for assistance to mediate between the Company and certain of its subsidiaries (collectively, the “Affected Companies”) with its respective financiers (“the Lenders”).

 

This is part of the Company’s proactive effort in managing its debt exposure to safeguard the Affected Companies, whose core businesses are still viable. The Company had received the approval from the CDRC on 7 August 2019.

 

The Standstill Letter was issued by CDRC to the Lenders on 7 August 2019.

 

Notwithstanding the above, the operations of the Affected Companies shall remain as usual.

 

Further announcements will be made in due course as and when appropriate.

 

The announcement is dated 11 September 2019.

 

 


Announcement Info

Company Name SARAWAK CABLE BERHAD
Stock Name SCABLE
Date Announced 11 Sep 2019
Category General Announcement for PLC
Reference Number GA1-11092019-00054

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