Date : 02 February 2016

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PRIVATISATION AGREEMENT ENTERED INTO BETWEEN RUKUN JUANG SDN BHD, A 85%-OWNED SUBSIDIARY OF MRCB LAND SDN BHD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF MRCB, THE GOVERNMENT OF MALAYSIA, REPRESENTED BY THE MINISTRY OF YOUTH AND SPORTS AND SYARIKAT TANAH DAN HARTA SDN BHD ("PRIVATISATION AGREEMENT") RELATING TO THE REFURBISHMENT AND UPGRADING OF FACILITIES LOCATED AT THE NATIONAL SPORTS COMPLEX IN BUKIT JALIL, KUALA LUMPUR FOR A TOTAL CONTRACT SUM OF RM1,631,880,000 ("PROPOSED PRIVATISATION")

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PRIVATISATION AGREEMENT ENTERED INTO BETWEEN RUKUN JUANG SDN BHD, A 85%-OWNED SUBSIDIARY OF MRCB LAND SDN BHD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF MRCB, THE GOVERNMENT OF MALAYSIA, REPRESENTED BY THE MINISTRY OF YOUTH AND SPORTS AND SYARIKAT TANAH DAN HARTA SDN BHD ("PRIVATISATION AGREEMENT") RELATING TO THE REFURBISHMENT AND UPGRADING OF FACILITIES LOCATED AT THE NATIONAL SPORTS COMPLEX IN BUKIT JALIL, KUALA LUMPUR FOR A TOTAL CONTRACT SUM OF RM1,631,880,000 ("PROPOSED PRIVATISATION")

We refer to the announcements dated 28 October 2015, 8 January 2016 and 26 January 2016 in relation to the Proposed Privatisation. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements in relation to the Proposed Privatisation.

On behalf of the Board, RHB Investment Bank wishes to announce that RJSB had on 29 January 2016 entered into a supplemental agreement to the Privatisation Agreement (“Supplemental Agreement”) with the Government and Hartanah to vary certain clauses in the Privatisation Agreement including, amongst others, the definition of “Construction Period for Project 1” which shall be amended and substituted with the following new definition:-

Construction Period for Project 1

means the period of construction and completion of the Project which shall be within 17 months from the Construction Commencement Date Project 1 or any extended period thereof.”

In addition to the above, the Supplemental Agreement also modifies certain deliverables in relation to the fulfilment of CPs and the construction works programme as set out in the Privatisation Agreement.

This Announcement is dated 2 February 2016.






Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 02 Feb 2016
Category General Announcement for PLC
Reference Number GA1-02022016-00034