ARSB definition
Examples of ARSB in a sentence
The parties acknowledge that pursuant to the Silver ▇▇▇▇ LLC Agreement, the sale, assignment and transfer by ARSB of its Silver ▇▇▇▇ Interests is subject to the consent of the other members of Silver ▇▇▇▇.
If such consent is not obtained prior to Closing, then (i) the Silver ▇▇▇▇ Interests and Sellers’ right in and to the Silver ▇▇▇▇ LLC Agreement will each be an Excluded Asset and the shares of capital stock of ARSB will be a Purchased Asset and (ii) references in Section 7.5 to Silver ▇▇▇▇ Interests will be deemed to refer to the capital stock of ARSB.
ARSB was incorporated on 22 July 1994 under the Companies Act, 1965 as a private limited company.
For the avoidance of doubt, the value of ARSB Shares shall be determined based on the ARSB Appraised Value and the methodology as stated in Section 2.4 of this Announcement.
The salient terms of the Agreement include, amongst others, the following: Pursuant to the Agreement, ARSB, being the Owner is in possession of a mining permit issued by the Department of Mineral and Geoscience, Malaysia (otherwise known as Jabatan Mineral and Geosains Malaysia”)(“JMG”) to carry out mining activities on three (3) pieces of land held under Lot 301132, 151384, 201736, Mukim Sungai Raja, Daerah Kinta (“the Owner’s area”).
The Balance Amount Owing by YKGI to MISI shall be deemed fully settled by YKGI after the Share Transfer if the value of ARSB Shares to be transferred by YKGI to MISI pursuant to the Share Transfer is equivalent to the Balance Amount Owing by YKGI to MISI-Repayment Agreement.
If such consent is not obtained prior to Closing, then (i) the Silver ▇▇▇▇ Interests and Sellers’ right in and to the Silver ▇▇▇▇ LLC Agreement will each be an Excluded Asset and the shares of capital stock of ARSB will be a Purchased Asset and (ii) references in Section 6.5 to Silver ▇▇▇▇ Interests will be deemed to refer to the capital stock of ARSB.
The illustration of such scenario based on the audited consolidated financial statements of YKGI for the FYE 31 December 2018 and the audited consolidated financial statements of ARSB for the FYE 31 December 2018 is as shown in the table below.
The increase was due mainly to the higher utilisation of the banking facilities of the ARSB Group to finance the working capital requirements of ARSB Group.
The ARSB Group recorded an increase in revenue of approximately 8.25% or RM9.81 million from RM118.74 million in the FYE 31 December 2016 to RM128.54 million in the FYE 31 December 2017.