Sentoria unit receives termination notice on RM33.3m loan facility from Affin Bank

• Sentoria said the notice of termination was served to its 75%-owned subsidiary Sentoria Langkawi Sdn Bhd, according to the group's filing with Bursa Malaysia. The group did not specify the reason for the loan termination in its announcement.

KUALA LUMPUR (Aug 8): Loss-making property developer Sentoria Group Bhd (KL:SNTORIA) said on Friday that its unit has received a notice of termination from Affin Bank Bhd for term loan facilities with an original limit of up to RM33.3 million.

Sentoria said the notice of termination was served to its 75%-owned subsidiary Sentoria Langkawi Sdn Bhd, according to the group's filing with Bursa Malaysia. The group did not specify the reason for the loan termination in its announcement.

The original limit mainly refers to the maximum principal amount initially approved by the bank under the loan agreement, regardless of the amount drawn down.

Sentoria said the termination notice—issued via Affin Bank’s solicitors Messrs Sidek Teoh Wong & Dennis—demanded repayment of RM19.51 million in outstanding dues as of July 31, 2025.

Sentoria, as the corporate guarantor, is required to settle the amount within seven days, along with administrative costs of RM32.40, inclusive of service tax.

Sentoria Langkawi is mainly involved in theme park operations and property development.

According to the group’s 2024 annual report, the subsidiary swung to a net loss of RM7.98 million for the financial year ended Dec 31, 2024 (FY2024) from a net profit of RM33.6 million in FY2023.

The parent company Sentoria itself has been loss-making since FY2019.

For the year ended Sept 30, 2024 (FY2024), Sentoria posted a net loss of RM89.04 million on revenue of RM7.55 million. It also triggered Bursa Malaysia’s Practice Note 17 (PN17) criteria after its shareholders’ equity fell to 33% of issued and paid-up capital, based on its latest audited results.

Shares in Sentoria were unchanged at 0.5 sen on Friday, valuing the group at RM1.56 million.

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