Announcement Details/Table Section :
The Board of Directors of QL Resources Berhad (“QL” or “the Company”) wishes to announce that the actual value of the recurrent related party transactions of a revenue or trading nature (“RRPT”) transacted by its subsidiaries, namely QL Foods Sdn. Bhd. as at 22 August 2011 have exceeded the estimated value by 10% or more. The details of the aforesaid transaction are as stated in the table below.
The shareholders’ mandate for the abovementioned RRPT which had been obtained on 24 August 2010 has expired at the Company’s extraordinary general meeting held on 23 August 2011. However, the new shareholders’ mandate for the RRPT of RM2,000,000 had been obtained on 23 August 2011 and shall expired at the Company’s forthcoming extraordinary general meeting to be held in August 2012 unless and otherwise renewed.
This announcement is dated 11 November 2011.
(i) Sales of surimi by QL Foods Sdn. Bhd. to Fusipim Sdn. Bhd.
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Estimated value approved on 24.08.2010 (RM’000)
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Actual transacted value
(cumulative period from 24.08.2010 to 22.08.2011)
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% of Deviation
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Reason
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1,500
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1,735
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15.67
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Increase in sales volume.
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