Date : 28 April 2016

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY GAPURNA LAND SDN BHD (GLSB), A WHOLLY-OWNED SUBSIDIARY OF MALAYSIAN RESOURCES CORPORATION BERHAD (MRCB), OF TWO (2) ADJOINING PARCELS OF LAND FROM KEJORA KINTA SDN BHD (KKSB) FOR A TOTAL CASH CONSIDERATION OF RM6,900,000 (PROPOSED ACQUISITION)

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION BY GAPURNA LAND SDN BHD (GLSB), A WHOLLY-OWNED SUBSIDIARY OF MALAYSIAN RESOURCES CORPORATION BERHAD (MRCB), OF TWO (2) ADJOINING PARCELS OF LAND FROM KEJORA KINTA SDN BHD (KKSB) FOR A TOTAL CASH CONSIDERATION OF RM6,900,000 (PROPOSED ACQUISITION)

The Board of Directors of MRCB (Board) is pleased to announce that GLSB had on 28 April 2016 entered into a Sale and Purchase Agreement (SPA) with KKSB for the proposed acquisition of the following adjoining parcels of land:-

(i) Geran No. 37570, Lot 36 Seksyen 98, Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur (Geran 37570 Land) measuring 9,665 square feet (sq. ft.); and

(ii) Geran No. 37571, Lot 37 Seksyen 98, Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur (Geran 37571 Land) measuring 10,576 sq. ft.,

for a total cash consideration of RM6,900,000 (Purchase Consideration), upon the terms and conditions as set out in the SPA.

(The Geran 37570 Land and Geran 37571 Land are collectively referred to as the Subject Properties).

 

Please refer to the attachment for further details of the Proposed Acquisition.




Please refer attachment below.



Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 28 Apr 2016
Category General Announcement for PLC
Reference Number GA1-28042016-00083