TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") I. JOINT VENTURE DEVELOPMENT AGREEMENT BETWEEN VIVOCOM ENTERPRISE SDN BHD ("VESB") (AN INDIRECT 78.6%-OWNED SUBSIDIARY OF VIVOCOM) AND HANDY GOALS DEVELOPMENT SDN BHD ("HGDSB") TO DEVELOP AND COMPLETE AN ON-GOING RESIDENTIAL DEVELOPMENT IN SELANGOR ("JVDA"); AND II. PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF VIVOCOM AND ITS SUBSIDIARIES TO INCLUDE PROPERTY DEVELOPMENT ("PROPOSED DIVERSIFICATION")
| VIVOCOM INTL HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY")
I. JOINT VENTURE DEVELOPMENT AGREEMENT BETWEEN VIVOCOM ENTERPRISE SDN BHD ("VESB") (AN INDIRECT 78.6%-OWNED SUBSIDIARY OF VIVOCOM) AND HANDY GOALS DEVELOPMENT SDN BHD ("HGDSB") TO DEVELOP AND COMPLETE AN ON-GOING RESIDENTIAL DEVELOPMENT IN SELANGOR ("JVDA"); AND
II. PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF VIVOCOM AND ITS SUBSIDIARIES TO INCLUDE PROPERTY DEVELOPMENT ("PROPOSED DIVERSIFICATION") |
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On behalf of the Board of Directors of Vivocom ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company intends to undertake the following corporate proposals:- i. VESB (an indirect 78.6%-owned subsidiary of Vivocom) has on 30 December 2019 entered into the JVDA with HGDSB for the development and completion of an on-going residential development comprising 14 units of bungalows on a piece of freehold land measuring approximately 10,385 square metres held under Geran 122954, Lot 1703, Pekan Baru Sungai Besi, Daerah Petaling, Selangor ("Land"); and ii. proposed diversification of the existing principal activities of Vivocom and its subsidiaries ("Vivocom Group" or the "Group") to include property development, (collectively referred to as the "Proposals") Details of the Proposals are set out in the attachment enclosed.
This announcement is dated 30 December 2019. |
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Please refer attachment below.
Announcement Info
| Company Name | VIVOCOM INTL HOLDINGS BERHAD |
| Stock Name | VIVOCOM |
| Date Announced | 30 Dec 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-30122019-00032 |