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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONS GUAN CHONG BERHAD ("GCB" OR "COMPANY")
DEVIATION OF 10% OR MORE BETWEEN ACTUAL AND ESTIMATED VALUE OF A RECURRENT RELATED PARTY TRANSACTION ("RRPT")
GUAN CHONG BERHAD
Type
Announcement
Subject
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description
GUAN CHONG BERHAD ("GCB" OR "COMPANY")
DEVIATION OF 10% OR MORE BETWEEN ACTUAL AND ESTIMATED VALUE OF A RECURRENT RELATED PARTY TRANSACTION ("RRPT")
The Company had, at its Twenty-First Annual General Meeting ("21st AGM") held on 28 May 2025, obtained a mandate from its shareholders for the Company and its subsidiaries ("GCB Group") to enter into the recurrent related party transactions of revenue or trading nature ("RRPT"), which are necessary for GCB Group's day-to-day operations, as set out in the Circular of Shareholders dated 29 April 2025 ("the Circular").
Pursuant to Paragraph 10.09(2)(e) of the Main Market Listing Requirements and Practice Note 12 of Bursa Malaysia Securities Berhad, the Company wishes to announce that the actual value of the RRPT entered between Guan Chong Cocoa Manufacturer Sdn. Bhd., the wholly-owned subsidiary of GCB and SMC Food21 (Malaysia) Sdn. Bhd. ("SMC") has exceeded the estimated value of RRPT disclosed in the Circular by more than 10%.
The details of the deviation are set out as follows:-
Related Party
Nature of transaction
Estimated value of the RRPT as disclosed in the Circular ("Estimated Value")
(RM)
Actual value of the RRPT, transacted from 01 June 2025 to 10 April 2026 ("Actual Value")
(RM)
Deviation between the Actual Value and the Estimated Value ("Deviation") (in value and percentage)
(RM)
Reason of the Deviation
SMC
Sales of cocoa related products
20,000,000
22,173,417
2,173,417 which is equivalent to 10.87%
SMC has increased its demand for purchase of cocoa related products