KUALA LUMPUR (Jan 9): Sumatec Resources Bhd's creditors have terminated three collateralised loans extended to the company, and are demanding that the company pay up RM72.33 million within 14 days from the date the termination and demand notice was issued on Jan 5. The debt is being called up by Malaysian Trustees Bhd (MTD), trustees to the three lenders of the loans, namely Kerisma Bhd, Capone Bhd and Prima Uno Bhd, according to Sumatec's bourse filing this evening. The bondholders, it said, should also pursue Semua International Sdn Bhd for any remaining dividend payment stipulated in the 2013 SA with Semua International Sdn Bhd. “The company is presently applying for government approval in Kazakhstan for the year 2017 work programme to increase the [oilfield's] production,” Sumatec said. Sumatec’s share price rose half sen or 5.56% to 9.5 sen today, giving it a market capitalisation of RM367.28 million.

Source: The Edge Markets January 09, 2017 13:50 UTC