FAQ 9.53

*Others – Default in Payment*

9.53	The facts of the matter are as follows:
	●	X Berhad has a financial year end on 31 December.
	●	X Berhad’s net assets as at 30 June 2015, based on its latest financial statements published on 30 July 2015 is RM250 million.
	●	In 2015, *X Berhad* had defaulted in the following payments of its credit facilities/debt securities:

	Based on the facts above, is *X Berhad* required to immediately announce each default in payment pursuant to Rule 9.19A of the ACE LR?

	Under Rule 9.19A(1)(a) of the ACE LR, a listed issuer must immediately announce any default in payment where the total amount outstanding either singly or collectively is 5% or more of the net assets of the listed corporation based on the latest published or announced financial statements. In this regard, the table below clarifies the immediate announcement obligation of X Berhad as required under Rule 9.19A(1)(a) of the ACE LR:

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