Date : 22 March 2018

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MANAGEMENT CONTRACT BETWEEN KWASA SENTRAL SDN BHD, A 70%-OWNED SUBSIDIARY OF MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB") ("KSSB"), AND MRCB LAND SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MRCB ("MRCB LAND"), FOR THE APPOINTMENT OF MRCB LAND AS THE MANAGEMENT CONTRACTOR IN CONNECTION WITH THE DEVELOPMENT AND CONSTRUCTION OF A MIXED DEVELOPMENT IDENTIFIED TO BE THE TOWN CENTRE OF THE KWASA DAMANSARA TOWNSHIP, ON A PIECE OF LAND KNOWN AS MX-1, FOR A PROVISIONAL TOTAL PROJECT SUM OF RM7,461,991,606

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
MANAGEMENT CONTRACT BETWEEN KWASA SENTRAL SDN BHD, A 70%-OWNED SUBSIDIARY OF MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB") ("KSSB"), AND MRCB LAND SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MRCB ("MRCB LAND"), FOR THE APPOINTMENT OF MRCB LAND AS THE MANAGEMENT CONTRACTOR IN CONNECTION WITH THE DEVELOPMENT AND CONSTRUCTION OF A MIXED DEVELOPMENT IDENTIFIED TO BE THE TOWN CENTRE OF THE KWASA DAMANSARA TOWNSHIP, ON A PIECE OF LAND KNOWN AS MX-1, FOR A PROVISIONAL TOTAL PROJECT SUM OF RM7,461,991,606

On behalf of the Board of Directors of MRCB, RHB Investment Bank Berhad wishes to announce that MRCB Land had on 22 March 2018 entered into a management contract with KSSB, for the appointment of MRCB Land as the Management Contractor in connection with the development and construction of a mixed development identified to be the town centre of the Kwasa Damansara Township, on a piece of land owned by KSSB measuring 64.30 acres known as MX-1, held under HSD 315671, Lot No. PT50854, Mukim Sungai Buloh, Daerah Petaling, Selangor Darul Ehsan, for a provisional total project sum of RM7,461,991,606 ("Proposed Construction").

 

Further details of the Proposed Construction are set out in the attachment below.

 

 

This Announcement is dated 22 March 2018.




Please refer attachment below.



Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 22 Mar 2018
Category General Announcement for PLC
Reference Number GA1-22032018-00114