Under a repayment agreement inked on Jan 30,2020, YKGI will repay MISI in four tranches – US$360,000 each by Jan 31, Feb 29 and March 31 as well as US$6.924mil by April 30. YKGI had settled US$2.76mil owing to MISI in the second half of 2019.
KUCHING: YKGI Holdings Bhd is to settle outstanding debt of US$8mil (RM32.74mil) due to its major shareholder Marubeni-Itochu Steel Inc (MISI) by April 2020.
MISI, which has a 26.6% stake in YKGI, is equally owned by Japan’s Marubeni Corp and Itochu Corp, both are listed on the Tokyo Stock Exchange.
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