Excel VBA (SAP.Functions) Not working with SAP GUI 7.40

have a Excel VBA which connects to SAP, pulls some data and does some processing on it. It was working fine with SAP GUI 7.20. But it stopped working when I installed SAP GUI 7.40. My code is as below :

Dim obBAPICall AsObject  ' * Create objectSet obBAPICall = CreateObject("SAP.Functions")..

I get following error :

I've already gone through some weblinks and I believe I've all the required references. (In fact, I've added many more in order to troubleshoot the problem).

My SAP GUI version is :

For your information -

Following code does not have any problem :

Set SAPguiApp = CreateObject("Sapgui.ScriptingCtrl.1")

Any help is highly appreciated.

Thank you.