News

The Board of Directors of QL Resources Berhad (“QL” or “the Company”) wishes to announce that the aggregated actual value of the recurrent related party transactions of a revenue or trading nature (“RRPT”) transacted between QL Farms Group ("QLF") and M.B. Agriculture (Sandakan) Sdn. Bhd. (“MB”) have exceeded the mandate value by 10% or more.  

QLF had obtained the renewal of shareholders’ mandate for its RRPT with MB at the Company’s Annual General Meeting ("AGM") held on 25 August 2017 with total aggregated mandate value of RM300,000.00, which will be expiring at the next AGM to be held on 28 August 2018 ("Approved Mandate Value"). However, the transaction value of the said RRPT for the period from 26 August 2017 to 10 August 2018 stood at approximately RM399,000.00, which had exceeded 10% of the Approved Mandate Value. 

The details of the said deviation are as follows:-

This announcement is dated 14 August 2018.