MAHSING - General Announcement
Announcement Type: General Announcement
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF PRIME RESIDENTIALDEVELOPMENT LAND IN KINRARA OF APPROXIMATELY 125.8 ACRES GROSS (OR 51.38 ACRES NET) THROUGH THE COMPANY'S WHOLLY-OWNED SUBSIDIARY, LEGEND GRAND DEVELOPMENT SDN BHD FROM MEDAN DAMAI SDN BHD AT A TOTAL PURCHASE SUM OF RM178,396,136.15 OR APPROXIMATELY RM32.556 PER SQUARE FOOT (GROSS)
Contents: The Board of Directors of Mah Sing ("Board") wishes to announce that its wholly-owned subsidiary, Legend Grand Development Sdn Bhd ("Legend Grand "), had on 9 July 2010, entered into a sale and purchase agreement ("SPA") with Medan Damai Sdn Bhd ("Medan Damai") for the proposed acquisition of 907 parcels of residential land in Kinrara with total gross area measuring approximately 125.8 acres (51.38 acres net) in Mukim of Petaling, Daerah Petaling, Negeri Selangor Darul Ehsan ("Lands") for a cash consideration of RM178,396,136.15 ("Proposed Acquisition ") to be paid progressively over a period of 12 months.
This announcement is dated 9 July 2010.
Attachments: Announcement on Kinrara Residence.pdf
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF PRIME RESIDENTIALDEVELOPMENT LAND IN KINRARA OF APPROXIMATELY 125.8 ACRES GROSS (OR 51.38 ACRES NET) THROUGH THE COMPANY'S WHOLLY-OWNED SUBSIDIARY, LEGEND GRAND DEVELOPMENT SDN BHD FROM MEDAN DAMAI SDN BHD AT A TOTAL PURCHASE SUM OF RM178,396,136.15 OR APPROXIMATELY RM32.556 PER SQUARE FOOT (GROSS)
Contents: The Board of Directors of Mah Sing ("Board") wishes to announce that its wholly-owned subsidiary, Legend Grand Development Sdn Bhd ("Legend Grand "), had on 9 July 2010, entered into a sale and purchase agreement ("SPA") with Medan Damai Sdn Bhd ("Medan Damai") for the proposed acquisition of 907 parcels of residential land in Kinrara with total gross area measuring approximately 125.8 acres (51.38 acres net) in Mukim of Petaling, Daerah Petaling, Negeri Selangor Darul Ehsan ("Lands") for a cash consideration of RM178,396,136.15 ("Proposed Acquisition ") to be paid progressively over a period of 12 months.
This announcement is dated 9 July 2010.
Attachments: Announcement on Kinrara Residence.pdf
MAHSING - General Announcement
Announcement Type: General Announcement
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF 2 PARCELS OF CONTIGUOUS PRIME LAND IN SECTION U5, SHAH ALAM MEASURING IN TOTAL GROSS AREA APPROXIMATELY 72,115 SQUARE METERS (17.82 ACRES) OR TOTAL NET AREA APPROXIMATELY 35,244.68 SQUARE METERS (8.71 ACRES), THROUGH MAH SING'S WHOLLY-OWNED SUBSIDIARY, MESTIKA BISTARI SDN BHD FOR A TOTAL CONSIDERATION OF RM65,910,620 OR APPROXIMATELY RM84.91 PER SQUARE FOOT (GROSS)
Contents: The Board of Directors of Mah Sing ("Board") wishes to announce that its wholly-owned subsidiary, Mestika Bistari Sdn Bhd ("Mestika Bistari"), had on 9 July 2010, entered into two (2) separate sale and purchase agreements with Midas Menang Sdn Bhd ("First Vendor") and Zikay Development Sdn Bhd ("Second Vendor") respectively for the proposed acquisition of prime lands in Section U5, Shah Alam with gross area measuring in total approximately 72,115 square metres (17.82 acres) in Pekan Baru Subang, Daerah Petaling, Negeri Selangor ("Land") for a total cash consideration of RM65,910,620 or approximately RM84.91 per square foot ("Proposed Acquisition").
Please refer the attachment for the details of the Proposed Acquisition.
This announcement is dated 9 July 2010.
Attachments: Announcement on Star Avenue.pdf
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF 2 PARCELS OF CONTIGUOUS PRIME LAND IN SECTION U5, SHAH ALAM MEASURING IN TOTAL GROSS AREA APPROXIMATELY 72,115 SQUARE METERS (17.82 ACRES) OR TOTAL NET AREA APPROXIMATELY 35,244.68 SQUARE METERS (8.71 ACRES), THROUGH MAH SING'S WHOLLY-OWNED SUBSIDIARY, MESTIKA BISTARI SDN BHD FOR A TOTAL CONSIDERATION OF RM65,910,620 OR APPROXIMATELY RM84.91 PER SQUARE FOOT (GROSS)
Contents: The Board of Directors of Mah Sing ("Board") wishes to announce that its wholly-owned subsidiary, Mestika Bistari Sdn Bhd ("Mestika Bistari"), had on 9 July 2010, entered into two (2) separate sale and purchase agreements with Midas Menang Sdn Bhd ("First Vendor") and Zikay Development Sdn Bhd ("Second Vendor") respectively for the proposed acquisition of prime lands in Section U5, Shah Alam with gross area measuring in total approximately 72,115 square metres (17.82 acres) in Pekan Baru Subang, Daerah Petaling, Negeri Selangor ("Land") for a total cash consideration of RM65,910,620 or approximately RM84.91 per square foot ("Proposed Acquisition").
Please refer the attachment for the details of the Proposed Acquisition.
This announcement is dated 9 July 2010.
Attachments: Announcement on Star Avenue.pdf
MAHSING - General Announcement
Announcement Type: General Announcement
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF PRIME FREEHOLD LAND IN BUKIT JELUTONG, SHAH ALAM OF APPROXIMATELY 44,313 SQUARE METERS (10.95 ACRES) THROUGH THE COMPANY'S WHOLLY-OWNED SUBSIDIARY, MESTIKA BISTARI SDN BHD FROM AZEERA PROPERTIES (M) SDN BHD AT A TOTAL PURCHASE SUM OF RM31,864,010 OR APPROXIMATELY RM67 PER SQUARE FOOT
Contents: The Board of Directors of Mah Sing ("Board") wishes to announce that its wholly-owned subsidiary, Mestika Bistari Sdn Bhd ("Mestika Bistari" or "Purchaser"), had on 9 July 2010, entered into a sale and purchase agreement ("SPA") with Azeera Properties (M) Sdn Bhd ("Vendor") for the proposed acquisition of a piece of prime freehold land held under title no. Geran 20999, Lot 1115 in Mukim of Damansara, District of Petaling, State of Selangor Darul Ehsan measuring approximately 44,313 square metres (10.95 acres) ("Land") for a cash consideration of RM31,864,010 ("Purchase Price") or approximately RM67 per square foot ("Proposed Acquisition").
Please refer the attachment for the details of the Proposed Acquisition.
This announcement is dated 9 July 2010.
Attachments: Announcement on iParc3.pdf
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF PRIME FREEHOLD LAND IN BUKIT JELUTONG, SHAH ALAM OF APPROXIMATELY 44,313 SQUARE METERS (10.95 ACRES) THROUGH THE COMPANY'S WHOLLY-OWNED SUBSIDIARY, MESTIKA BISTARI SDN BHD FROM AZEERA PROPERTIES (M) SDN BHD AT A TOTAL PURCHASE SUM OF RM31,864,010 OR APPROXIMATELY RM67 PER SQUARE FOOT
Contents: The Board of Directors of Mah Sing ("Board") wishes to announce that its wholly-owned subsidiary, Mestika Bistari Sdn Bhd ("Mestika Bistari" or "Purchaser"), had on 9 July 2010, entered into a sale and purchase agreement ("SPA") with Azeera Properties (M) Sdn Bhd ("Vendor") for the proposed acquisition of a piece of prime freehold land held under title no. Geran 20999, Lot 1115 in Mukim of Damansara, District of Petaling, State of Selangor Darul Ehsan measuring approximately 44,313 square metres (10.95 acres) ("Land") for a cash consideration of RM31,864,010 ("Purchase Price") or approximately RM67 per square foot ("Proposed Acquisition").
Please refer the attachment for the details of the Proposed Acquisition.
This announcement is dated 9 July 2010.
Attachments: Announcement on iParc3.pdf
MAXBIZ - General Announcement
Announcement Type: General Announcement
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- WINDING UP PETITION (NO. 28 NCC-459-2010) SERVED ON M.K.K INDUSTRIES SDN. BHD. (MKK), A WHOLLY-OWNED SUBSIDIARY OF MAXBIZ CORPORATION BERHAD
Contents: We act for and on behalf of MAXBIZ.
Further to MAXBIZ's announcements made on 5 July 2010 and 7 July 2010, the Board of Directors of MAXBIZ wishes to announce the following:-
MKK purchased the Sclavos machines in year 2000 when MKK was a wholly-owned subsidiary of Inno-Option Sdn. Bhd. (Inno-Option). Inno-Option subsequently disposed its 100% equity interest in MKK to MAXBIZ pursuant to the Restructuring Scheme whereby the listing status of Geahin Engineering Bhd. was transferred to MAXBIZ.
Intertrad Limited T/A Sclavos International (Intertrad) named Inno-Option as one of the defendants as Intertrad produced an agreement between Intertrad, MKK and Inno-Option wherein it was stated that Inno-Option would pay Intertrad upon the successful listing of MAXBIZ. The agreement was signed by Mr. Chon Chye @ Chon Chong On when he was a director of both MKK and Inno-Option. Mr. Chon Chye @ Chon Chong On was a Director of MAXBIZ from 7 September 2004 to 10 August 2007.
In the list of fixed assets of MKK at the time when MKK was disposed to MAXBIZ, these Sclavos machines were stated as fully paid, hence the present Board of MAXBIZ was surprised when Intertrad sued MKK for payment.
The Sclavos machines are currently not in use because the other machines owned by MKK are sufficient to cope with the present orders and in the event MKK failed in appealing the Winding Up Petition, these machines could be disposed and the proceeds utilised to pay off the amount claimed by Intertrad. Therefore, the winding-up proceeding has no operational impact on the Group.
The net book value of the Sclavos machines as at 31 December 2009 was RM257,136.62.
This announcement is dated 8 July 2010.
Company Name: MAXBIZ CORPORATION BERHAD
Stock Name: MAXBIZ
Date Announced: 09/07/2010
Announcement Detail:
Type: Announcement
Subject: MAXBIZ CORPORATION BERHAD ("MAXBIZ" OR "THE COMPANY")
- WINDING UP PETITION (NO. 28 NCC-459-2010) SERVED ON M.K.K INDUSTRIES SDN. BHD. (MKK), A WHOLLY-OWNED SUBSIDIARY OF MAXBIZ CORPORATION BERHAD
Contents: We act for and on behalf of MAXBIZ.
Further to MAXBIZ's announcements made on 5 July 2010 and 7 July 2010, the Board of Directors of MAXBIZ wishes to announce the following:-
MKK purchased the Sclavos machines in year 2000 when MKK was a wholly-owned subsidiary of Inno-Option Sdn. Bhd. (Inno-Option). Inno-Option subsequently disposed its 100% equity interest in MKK to MAXBIZ pursuant to the Restructuring Scheme whereby the listing status of Geahin Engineering Bhd. was transferred to MAXBIZ.
Intertrad Limited T/A Sclavos International (Intertrad) named Inno-Option as one of the defendants as Intertrad produced an agreement between Intertrad, MKK and Inno-Option wherein it was stated that Inno-Option would pay Intertrad upon the successful listing of MAXBIZ. The agreement was signed by Mr. Chon Chye @ Chon Chong On when he was a director of both MKK and Inno-Option. Mr. Chon Chye @ Chon Chong On was a Director of MAXBIZ from 7 September 2004 to 10 August 2007.
In the list of fixed assets of MKK at the time when MKK was disposed to MAXBIZ, these Sclavos machines were stated as fully paid, hence the present Board of MAXBIZ was surprised when Intertrad sued MKK for payment.
The Sclavos machines are currently not in use because the other machines owned by MKK are sufficient to cope with the present orders and in the event MKK failed in appealing the Winding Up Petition, these machines could be disposed and the proceeds utilised to pay off the amount claimed by Intertrad. Therefore, the winding-up proceeding has no operational impact on the Group.
The net book value of the Sclavos machines as at 31 December 2009 was RM257,136.62.
This announcement is dated 8 July 2010.
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