^{Datuk Dr. Ras Adiba binti Mohd Radzi Chairman, Sentoria Group Berhad and Dato' Loh Yuen Tuck, CEO of the Group after Sentoria's extraordinary general meeting which gave solid support to RCB's proposal.​}



KUALA LUMPUR, April 30 (Bernama) -- Sentoria Group Berhad ("Sentoria") achieved a significant milestone last Thursday with the successful convening of its Extraordinary General Meeting (EGM), a crucial step forward in the company’s pursuit of financial revitalisation. The virtual EGM gathering witnessed strong participation from Sentoria's esteemed shareholders including the State Investment Agencies of Pahang, demonstrating their steadfast commitment to the company's future strategic direction.
 
Led by Sentoria’s Chairman, Datuk Ras Adiba Radzi, and attended by all board members, the EGM focused on securing shareholders’ mandate for Sentoria’s Redeemable Convertible Bond (RCB) issuance to be undertaken together with a Shares Consolidation exercise. The overwhelming support received almost 99.9% support of eligible registered shareholders, including full backing from the Pahang State Investment arm, who is the second largest shareholder, represented a resounding vote of confidence in Sentoria's rejuvenation efforts.
 
Following Bursa Malaysia's conditional approval last month, contingent on shareholders’ endorsement, today’s successful resolution propels Sentoria forward to initiate its first issuance of the three-tranche structured RCB, in compliance with regulatory standards.
 
Dato’ Loh Yuen Tuck, the Group’s CEO, expressed his heartfelt gratitude for the muchawaited approval of the RCB proposal. “We are amidst a massive and significant corporate turnaround. The RCB plays a critical role in reviving SGB cash-flows, honour its commitment to banks, expedite the completion of housing projects in Morib Bay, Selangor and rejuvenation of its theme parks through strategic partnerships. The RCB approval enables Sentoria to honour its commitment to buyers of Sentoria homes, deal with legacy issues arising from outstanding loans from banks, finance new projects in Morib, revive its theme-park operations in Gambang Pahang and Samariang Sarawak, thus enhancing property values, delivering sustainable returns to shareholders and fair return to banks supporting SGB,” remarked Dato’ Loh.
 
The RCB issuance, complemented by a share consolidation exercise of four to one, underscores Sentoria’s commitment to financial flexibility and disciplined management. The RCB is a convertible bond issued by Sentoria to raise funds from the (capital) market which has already been fully subscribed. Upon this share consolidation exercise, the RCB is  issued to an identified Subscriber of RCB, namely Triton Capital VCC Singapore, which the principal advisers have structured that the RCB is convertible to a maximum new ordinary share of 306, 690, 544. These new converted SGB shares are in addition to the Sentoria’s consolidated shares of 155, 744, 497 (including treasury shares). The infusion of RM 150 million funds will support development initiatives, improve cash flows, reduce bank borrowings and bolster working capital, all vital components of Sentoria's strategic turnaround.
 
Datuk Ras Adiba Radzi, Chairman of Sentoria's Board of Directors, reaffirmed the new Management Team's commitment to integrity and transparency in utilising RCB funds, underscoring Sentoria's dedication to realising its full potential and creating value for stakeholders. “Sentoria remains steadfast in honouring the trust placed in us by our esteemed shareholders and bankers. Our new leadership and team are fully dedicated to implementing RCB to the best of our ability as we endeavour to build a better tomorrow,” affirmed Datuk Ras Adiba. 
 
The new team extends their gratitude for the continued support from shareholders, partners, suppliers, bankers, and stakeholders, emphasising the pivotal role of ongoing collaboration in achieving Sentoria's turnaround goals.          
 
About Sentoria Group Berhad
 
Sentoria Group Berhad is a leading property development and investment company based in Malaysia, dedicated to delivering affordable, innovative and sustainable solutions. The company’s journey began in 2000, where they transformed from a contractor into a pioneer in providing quality, affordable housing solutions. With a focus on creating vibrant communities and enriching lives, Sentoria remains committed to driving long-term value for all stakeholders. Visit www.sentoria.com.my for more information.
 
Build a Better Tomorrow 


SOURCE : Sentoria Group Berhad

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--BERNAMA