DAYA - OTHERS DAYA MATERIALS BERHAD (“DMB” OR “COMPANY”) MEMORANDUM OF AGREEMENT (“MOA”) BETWEEN DAYA VESSELS LIMITED (“DVL”), A SUBSIDIARY OF DAYA OCI SDN BHD (“DOCI”), WHICH IN TURN IS A SUBSIDIARY OF DAYA MATERIALS BERHAD (“DMB”) AND SBM INSTALLER S.A.R.L (“SBM”), FOR THE ACQUISITION OF A DIVING SUPPORT AND CONSTRUCTION VESSEL (“VESSEL”)
| Company Name | DAYA MATERIALS BERHAD |
| Stock Name | DAYA |
| Date Announced | 7 Aug 2014 |
| Category | General Announcement |
| Reference No | CC-140807-A9F95 |
| Type | Announcement |
| Subject | OTHERS |
| Description | DAYA MATERIALS BERHAD (“DMB” OR “COMPANY”) MEMORANDUM OF AGREEMENT (“MOA”) BETWEEN DAYA VESSELS LIMITED (“DVL”), A SUBSIDIARY OF DAYA OCI SDN BHD (“DOCI”), WHICH IN TURN IS A SUBSIDIARY OF DAYA MATERIALS BERHAD (“DMB”) AND SBM INSTALLER S.A.R.L (“SBM”), FOR THE ACQUISITION OF A DIVING SUPPORT AND CONSTRUCTION VESSEL (“VESSEL”) |
Further to our announcement dated 16 December 2013 (“Announcement”) in which we announced that DVL, a 100% owned subsidiary of DOCI, which in turn is a 67% owned subsidiary of DMB, purportedly entered into a MOA with SBM in relation to the acquisition of the Vessel named the “SBM Installer” for a purchase consideration of United States Dollars One Hundred and Eighty Million (USD180,000,000), equivalent to approximately Ringgit Malaysia Five Hundred and Seventy Seven Million (RM577 million), the Board of Directors of DMB wishes to announce that DVL had through its solicitors, received a letter from SBM’s lawyers dated 6 August 2014 giving DVL notice that SBM has appointed its arbitrator in relation to all disputes arising out of and/or in connection with the MOA. DVL is to appoint its arbitrator within 14 calendar days, failing which SBM shall take steps to appoint its nominated arbitrator as sole arbitrator. DVL is seeking legal advice from its solicitors and the Company will make the necessary announcements as and when there are material developments in this case. At this juncture DVL has not received the details of SBM's claims and the Company is therefore not in the position to assess the impact of the arbitration on the operations and financial position of DVL, the Company and the group. In this regard, the Company will make the relevant announcement(s) in due course. This announcement is dated 7 August 2014. | |
PETDAG - Interim Dividend
| Company Name | PETRONAS DAGANGAN BHD |
| Stock Name | PETDAG |
| Date Announced | 7 Aug 2014 |
| Category | Entitlements (Notice of Book Closure) |
| Reference No | PD-140804-9BE0E |
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