BURSA ANNOUCEMENTS

Date : 03 January 2020

VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR "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 Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-02012020-00001
Subject VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR "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")
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")
Query Letter Contents

We refer to your Companyís announcement dated 30 December 2019, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) The total development cost of the Project, including VESBís commitment; and if there is a shortfall, how will the shortfall be funded.
2) The expected completion date of development of the Project.
3) The estimated gross development value for the Project.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing

Regulation
 

Cc : Market Surveillance Dept. , Securities Commission (via fax)

Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcement in relation to the Proposals.

We refer to the earlier announcement dated 30 December 2019 in relation to the Proposals.

On behalf of the Board of Directors of Vivocom, UOBKH wishes to announce additional information in relation to the Proposals as set out in the attachment enclosed.

 

This announcement is dated 3 January 2020.



Please refer attachment below.



Announcement Info

Company Name VIVOCOM INTL HOLDINGS BERHAD
Stock Name VIVOCOM
Date Announced 03 Jan 2020
Category General Announcement for PLC
Reference Number GA1-03012020-00059


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