TCB wishes to announce that its indirect wholly-owned subsidiaries, TR CPark Sdn. Bhd. [Reg. No. 201101039562 (967684-U)] and TR Sepang Sdn. Bhd. [Reg No. 201101039575 (967697-K)], entered into three separate agreements on 26 July 2024 for the acceptance of insurance payments totaling USD2,323,711.65 (or RM10,672,807.61 based on MYR/USD exchange rate of 4.5930 published on Bank Negara Malaysia website as at 31 July 2024) (“Insurance Proceeds”).
The Insurance Proceeds are in relation to replacement cost for the solar modules at the respective solar plants. The Insurance Proceeds are expected to be received in August 2024.
The Company expects the Insurance Proceeds to contribute positively to the TCB group’s financial performance for the financial year ending 31 December 2024.
None of the directors and substantial shareholders of TCB or any persons connected with them has any interest, direct or indirect, in the above.
The board of directors of the Company is of the opinion that the above is in the best interest of the Company.
This announcement is dated 2 August 2024.
