PROVISION OF FINANCIAL ASSISTANCE

Company Name FINTEC GLOBAL BERHAD
Stock Name FINTEC
Date Announced 06 Jul 2022
Category General Announcement for PLC
Reference Number GA1-05072022-00044

Type Announcement
Subject PROVISION OF FINANCIAL ASSISTANCE
Description
FINTEC GLOBAL BERHAD ["FINTEC" or "the Company"]
- QUARTERLY DISCLOSURE PURSUANT TO RULE 8.25(2)(e) OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

Pursuant to Rule 8.25(2)(e) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of FINTEC wishes to announce the aggregate amount of financial assistance provided by its wholly-owned subsidiary, Fintec Capital Sdn. Bhd. (“FC”), a moneylending company, pursuant to its ordinary course of business for the quarter ended 30 June 2022 as set out below:-

 

1. The aggregate amount of outstanding loans as at 30 June 2022 given out by FC are as follows:-

 

Category of Loan Debtors

 

Secured

Unsecured

Total

RM’000

RM’000

RM’000

Corporations

-

-

-

Individuals

-

3,200

3,200

Corporations within FINTEC and its subsidiaries (“the Group”)

-

-

-

Related Parties

-

-

-

Total     

-

3,200

3,200

 

2. The total borrowings as at 30 June 2022 are as follows:-

 

 

RM’000

Loans given by any corporation within the Group to FC

3,938

Borrowings which are secured by any corporation within the Group in favour of FC

-

Other borrowings       

-

Total

3,938

 

3. The aggregate amount of Loans in default as at 30 June 2022 are as follows:-

 

 

RM’000

At the beginning of the financial year

-

Classified as Loans in default during the financial year

4,200

Reclassified as performing during the financial year          

-

Amount recovered

1,000

Amount written off

-

Loans converted to securities

-

Total and net Loans in default at the end of the financial year

3,200

Ratio of net Loans in default to net Loans or advances

0.762

 

4. The top 5 Loans (with aggregation of Loans given to the same person or persons connected with each other), setting out (where applicable) as follows:-

 

 

1

2

3

Facility type

Unsecured

Unsecured

Unsecured

Limit (RM’000)

Not applicable

Not applicable

Not applicable

Amount outstanding (RM’000)

395

1,402.50

1,402.50

Security provided

None

None

None

Value of security (RM’000)

Not applicable

Not applicable

Not applicable

Recipient of loan (related or non-related party)

Non-related party

Non-related party

Non-related party

Terms of repayment (months)

3

3

3

 

This announcement is dated 6 July 2022.

 

 

 

 

 






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Be the first to like this. Showing 2 of 2 comments

Musang King

Use the money to buy back Fintec shares instead.

1 month ago

Musang King


Please name the loan receipient. Initiate legal action without waiting. Make sure, whoever approves must be responsible as a Guarantor or else do not lend out.
1 minute ago

1 month ago

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