Date : 14 August 2014

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS MALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR “COMPANY”) PROPOSED SUBSCRIPTION OF NEW ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 70% EQUITY INTEREST IN KWASA DEVELOPMENT (2) SDN BHD (“KDSB”), A SPECIAL PURPOSE VEHICLE INCORPORATED TO UNDERTAKE THE MIXED DEVELOPMENT OF 64.07 ACRES OF LAND IDENTIFIED TO BE THE TOWN CENTRE OF THE PROPOSED KWASA DAMANSARA TOWNSHIP (“PROJECT MX-1”) FOR A SUBSCRIPTION PAYMENT OF APPROXIMATELY RM816.6 MILLION (“PROPOSED SUBSCRIPTION”)

MALAYSIAN RESOURCES CORPORATION BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
DescriptionMALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR “COMPANY”)

PROPOSED SUBSCRIPTION OF NEW ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 70% EQUITY INTEREST IN KWASA DEVELOPMENT (2) SDN BHD (“KDSB”), A SPECIAL PURPOSE VEHICLE INCORPORATED TO UNDERTAKE THE MIXED DEVELOPMENT OF 64.07 ACRES OF LAND IDENTIFIED TO BE THE TOWN CENTRE OF THE PROPOSED KWASA DAMANSARA TOWNSHIP (“PROJECT MX-1”) FOR A SUBSCRIPTION PAYMENT OF APPROXIMATELY RM816.6 MILLION (“PROPOSED SUBSCRIPTION”)

On 30 June 2014, the Company announced the receipt of the letter of award from Kwasa Land Sdn Bhd (“Kwasa Land”) for the development of Project MX-1 (“Letter of Award”). The Letter of Award is subject to a definitive agreement to be entered into between MRCB and Kwasa Land.

On behalf of the Board of Directors of the Company, Maybank Investment Bank Berhad wishes to announce that the Company has today entered into a shareholders’ agreement with Kwasa Land and KDSB in relation to, inter-alia, the Proposed Subscription. 

Please refer to the attachment for the details of the announcement.

This announcement is dated 14 August 2014.


Announcement Info

Company NameMALAYSIAN RESOURCES CORPORATION BERHAD  
Stock Name MRCB    
Date Announced14 Aug 2014  
CategoryGeneral Announcement
Reference NoMI-140814-40747