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Update On
Status Of
Proposed
Repayment
UPDATE ON STATUS
OF PROPOSED
REPAYMENT WITH
MALAYAN BANKING
BERHAD ("MAYBANK")
1. Further to
the announcement
issued on 27
November 2006,
the Board of
Directors of
Medi-Flex
Limited (the
"Company")
wishes to update
its shareholders
that Malayan
Banking Berhad
("Maybank") has
agreed to
withhold legal
action on
Flexitech Sdn
Bhd ("Flexitech")
subject to
Flexitech
continuing to
service the
monthly interest
of RM70,000 till
31 March 2007
and settle the
full amount of
overdue trade
bills on 31
March 2007.
2. The Company
will update its
shareholders on
the status of
its discussions
with its
financial
institutions
should there be
any material
developments. |
