The company says it is taking the necessary steps to settle the outstanding amounts to holders as soon as practicable.
The company said it is taking the necessary steps to settle the outstanding amounts to holders of its Islamic bond programme as soon as practicable.
“For the avoidance of doubt, the outstanding payments of the nominal value and expected periodic distribution amount in respect of the Sukuk Wakalah Series No 6 represent less than 5% of the net assets of Zetrix based on its latest audited financial statements,” it said in a Bursa Malaysia filing.
Zetrix said it would make further announcements on any material developments in relation to the above matter, where necessary.
The company’s filing was in response to an official query from Bursa following a Nov 6 report that MARC Ratings had downgraded Zetrix’s sukuk to “default” status after it failed to settle the financial obligation.
The embattled digital services company recently confirmed that a “dissolution event” was triggered following its breach of the covenant requiring its founder and managing director Wong Thean Soon to remain its largest shareholder.
It previously clarified to Bursa that it is not required to immediately repay the full outstanding amount under its sukuk programme, and that no payment default had occurred. - FMT
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