TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONS PETRON MALAYSIA REFINING & MARKETING BHD ("PMRMB" or "the Company") RECURRENT RELATED PARTY TRANSACTIONS OF REVENUE OR TRADING NATURE ("RRPTs") - Deviation between actual transacted value and estimated value by 10% or more
| PETRON MALAYSIA REFINING & MARKETING BHD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RECURRENT RELATED PARTY TRANSACTIONS |
| Description | PETRON MALAYSIA REFINING & MARKETING BHD ("PMRMB" or "the Company") RECURRENT RELATED PARTY TRANSACTIONS OF REVENUE OR TRADING NATURE ("RRPTs")
- Deviation between actual transacted value and estimated value by 10% or more |
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We refer to our circular issued to shareholders on 26 April 2024 ("Circular") and our announcements made on 9 and 29 April 2025 in relation to the deviation between the estimated and actual RRPTs value.
The Company wishes to announce that the RRPTs that was approved by the shareholders of the Company at the Company's 65th Annual General Meeting ("AGM") held on 13 June 2024 has exceeded the estimated cumulative value of RM2 billion for the RRPTs, as disclosed in the Circular, by more than 10%.
For the period from the last AGM to 19 May 2025, the actual cumulative transacted value executed between the Company and Petron Singapore Trading Pte Ltd ("PSTPL") is RM2.606 billion, or 30.3% above the estimated value of the RRPTs in the Circular.
The deviation is due to increased volume of transactions resulting from a more favourable purchase contract terms with PSTPL as compared to unrelated third parties, thereby contributing to better cost saving benefits to PMRMB.
This announcement is dated 19 May 2025. |
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Announcement Info
| Company Name | PETRON MALAYSIA REFINING & MARKETING BHD |
| Stock Name | PETRONM |
| Date Announced | 19 May 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19052025-00012 |