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Date : 19 April 2017

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS Kwantas Corporation Berhad ("Kwantas" or "the Company") Proposed Disposal of 3,791 Acres of Agriculture Land Held Under Title CL095316395 Located At Sungai Kinabatangan, District of Kinabatangan, Sabah Together With All Oil Palm Trees Planted And Structures Erected Thereon Owned By Kwantas Plantations Sdn Bhd ("KPSB"), A Wholly Owned Subsidiary of Kwantas For A Cash Consideration of RM100,448,621.00 ("Proposal").

KWANTAS CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
Kwantas Corporation Berhad ("Kwantas" or "the Company") 

Proposed Disposal of 3,791 Acres of Agriculture Land Held Under Title CL095316395 Located At Sungai Kinabatangan, District of Kinabatangan, Sabah Together With All Oil Palm Trees Planted And Structures Erected Thereon Owned By Kwantas Plantations Sdn Bhd ("KPSB"), A Wholly Owned Subsidiary of Kwantas For A Cash Consideration of RM100,448,621.00 ("Proposal").

The Board of Directors of Kwantas wishes to announce that KPSB, a wholly owned subsidiary of Kwantas had on 19 April 2017 entered into a Sale & Purchase Agreement with KUB Malua Plantation Sdn Bhd (formerly known as KUB Oil & Gas Sdn Bhd) for the proposed disposal of 3,791 acres of agriculture land held under CL095316395 located at Sungai Kinabatangan, District of Kinabatangan, Sabah together with all oil palm trees planted and structures erected thereon for a cash consideration of RM100,448,621.00.

Kindly refer to the attachment for details of the Proposal.

This announcement is dated 19 April 2017.




Please refer attachment below.



Announcement Info

Company Name KWANTAS CORPORATION BERHAD
Stock Name KWANTAS
Date Announced 19 Apr 2017
Category General Announcement for PLC
Reference Number GA1-18042017-00058


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