Date : 15 June 2017

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF THREE (3) PARCELS OF LAND WITH DEVELOPMENT POTENTIAL FROM DATUK BANDAR KUALA LUMPUR BY METRO SPECTACULAR SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM335.5 MILLION (PROPOSED LAND ACQUISITION)

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION OF THREE (3) PARCELS OF LAND WITH DEVELOPMENT POTENTIAL FROM DATUK BANDAR KUALA LUMPUR BY METRO SPECTACULAR SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM335.5 MILLION (PROPOSED LAND ACQUISITION)

Malaysian Resources Corporation Berhad (“MRCB” or “Company”) is pleased to announce that Metro Spectacular Sdn Bhd (“Metro Spectacular” or “Purchaser”), a 51% owned subsidiary of MRCB Land Sdn Bhd (“MRCB Land”), which in turn is a wholly-owned subsidiary of the Company, had today entered into a Sale and Purchase Agreement (“SPA”) with Datuk Bandar Kuala Lumpur (“Datuk Bandar” or “Vendor”) for the acquisition of three (3) parcels of land measuring approximately 40,720.5 square metres in total, all situated in the District of Kuala Lumpur (“the Land”) for a total cash consideration of RM335.5 million (“Purchase Price”).

For further details of the Proposed Acquisition, please refer to the attachment.




Please refer attachment below.



Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 15 Jun 2017
Category General Announcement for PLC
Reference Number GA1-15062017-00081