MYEG - General Announcement
Announcement Type: General Announcement
Company Name: MY E.G. SERVICES BERHAD
Stock Name: MYEG
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: MY E.G. Services Berhad ("the Company")
- Notice of Dealings in Shares in the Company by Principal Officer
Contents: We wish to announce that the Company had on 27 September 2010 received a notification pursuant to Paragraph 14.09 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements from Mr Chong Chien Ming, the Financial Controller of the Company in relation to his dealings in shares of the Company as follows:
Company Name: MY E.G. SERVICES BERHAD
Stock Name: MYEG
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: MY E.G. Services Berhad ("the Company")
- Notice of Dealings in Shares in the Company by Principal Officer
Contents: We wish to announce that the Company had on 27 September 2010 received a notification pursuant to Paragraph 14.09 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements from Mr Chong Chien Ming, the Financial Controller of the Company in relation to his dealings in shares of the Company as follows:
FBMKLCI-EA - FBM KLCI etf - Valuation Point as at 27 September 2010
Announcement Type: General Announcement
Company Name: FTSE BURSA MALAYSIA KLCI ETF
Stock Name: FBMKLCI-EA
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: FBM KLCI etf - Valuation Point as at 27 September 2010
Contents: Fund: FBM KLCI etf
NAV per unit (RM): 1.4733
Units in circulation (units): 3,344,000
Manager's Fee (% p.a): 0.50
Trustee Fee (% p.a): 0.06
License Fee (% p.a): 0.04
FTSE Bursa Malaysia KLCI Index: 1,464.71
Attachments: FBM KLCI etf 20100927.xls
Company Name: FTSE BURSA MALAYSIA KLCI ETF
Stock Name: FBMKLCI-EA
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: FBM KLCI etf - Valuation Point as at 27 September 2010
Contents: Fund: FBM KLCI etf
NAV per unit (RM): 1.4733
Units in circulation (units): 3,344,000
Manager's Fee (% p.a): 0.50
Trustee Fee (% p.a): 0.06
License Fee (% p.a): 0.04
FTSE Bursa Malaysia KLCI Index: 1,464.71
Attachments: FBM KLCI etf 20100927.xls
MYETFDJ - MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 27-09-2010
Announcement Type: General Announcement
Company Name: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25
Stock Name: MYETFDJ
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 27-09-2010
Contents: Fund:MYETFDJ
NAV per unit (RM):0.8911
Units in Circulation (units):724,000,000
Manager's Fee (%p.a):0.40
Trustee's Fee (%p.a):0.05
License Fee (%p.a):0.04
DJIM25 Index:796.97
Attachments: Daily Fund Values 270910.pdf
Company Name: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25
Stock Name: MYETFDJ
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 27-09-2010
Contents: Fund:MYETFDJ
NAV per unit (RM):0.8911
Units in Circulation (units):724,000,000
Manager's Fee (%p.a):0.40
Trustee's Fee (%p.a):0.05
License Fee (%p.a):0.04
DJIM25 Index:796.97
Attachments: Daily Fund Values 270910.pdf
TANJONG - General Announcement
Announcement Type: General Announcement
Company Name: TANJONG PUBLIC LIMITED COMPANY
Stock Name: TANJONG
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: TANJONG PUBLIC LIMITED COMPANY ("TANJONG")
CONDITIONAL TAKE-OVER OFFER BY TANJONG CAPITAL SDN BHD ("OFFEROR") THROUGH CIMB INVESTMENT BANK BERHAD ("CIMB"), RHB INVESTMENT BANK BERHAD ("RHB INVESTMENT BANK"), RBS ASIA ADVISERS (MALAYSIA) SDN BHD AND STANDARD CHARTERED BANK TO ACQUIRE ALL THE VOTING SHARES OF 7.5 PENCE EACH IN TANJONG ("OFFER SHARES") AT A CASH OFFER PRICE OF RM21.80 PER OFFER SHARE ("OFFER")
- Close of Offer
Contents: We refer to the announcements dated 30 July 2010, 6 August 2010, 13 August 2010, 20 August 2010, 30 August 2010, 8 September 2010, 9 September 2010, 13 September 2010 and 14 September 2010 in relation to the Offer.
We wish to announce that Tanjong has today received the attached press notice ("Press Notice") from CIMB and RHB Investment Bank on behalf of the Offeror announcing that the Offer has closed at 5.00 p.m. (Malaysian time) and 10.00 a.m. (London time) on Monday, 27 September 2010.
For other details, please see the Press Notice.
This announcement is dated 27 September 2010.
Attachments: Press Notice dated 27 September 2010.pdf
Company Name: TANJONG PUBLIC LIMITED COMPANY
Stock Name: TANJONG
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: TANJONG PUBLIC LIMITED COMPANY ("TANJONG")
CONDITIONAL TAKE-OVER OFFER BY TANJONG CAPITAL SDN BHD ("OFFEROR") THROUGH CIMB INVESTMENT BANK BERHAD ("CIMB"), RHB INVESTMENT BANK BERHAD ("RHB INVESTMENT BANK"), RBS ASIA ADVISERS (MALAYSIA) SDN BHD AND STANDARD CHARTERED BANK TO ACQUIRE ALL THE VOTING SHARES OF 7.5 PENCE EACH IN TANJONG ("OFFER SHARES") AT A CASH OFFER PRICE OF RM21.80 PER OFFER SHARE ("OFFER")
- Close of Offer
Contents: We refer to the announcements dated 30 July 2010, 6 August 2010, 13 August 2010, 20 August 2010, 30 August 2010, 8 September 2010, 9 September 2010, 13 September 2010 and 14 September 2010 in relation to the Offer.
We wish to announce that Tanjong has today received the attached press notice ("Press Notice") from CIMB and RHB Investment Bank on behalf of the Offeror announcing that the Offer has closed at 5.00 p.m. (Malaysian time) and 10.00 a.m. (London time) on Monday, 27 September 2010.
For other details, please see the Press Notice.
This announcement is dated 27 September 2010.
Attachments: Press Notice dated 27 September 2010.pdf
UMCCA - NINETY-SIXTH ANNUAL GENERAL MEETING ("AGM")
Announcement Type: General Announcement
Company Name: UNITED MALACCA BERHAD
Stock Name: UMCCA
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: NINETY-SIXTH ANNUAL GENERAL MEETING ("AGM")
Contents: The Board of Directors of United Malacca Berhad is pleased to announce that all the resolutions as stated in the Notice of Annual General Meeting dated 27 August 2010 were duly passed by the shareholders present at the AGM held on 27 September 2010
Company Name: UNITED MALACCA BERHAD
Stock Name: UMCCA
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: NINETY-SIXTH ANNUAL GENERAL MEETING ("AGM")
Contents: The Board of Directors of United Malacca Berhad is pleased to announce that all the resolutions as stated in the Notice of Annual General Meeting dated 27 August 2010 were duly passed by the shareholders present at the AGM held on 27 September 2010
TURIYA - Change Of Company Secretary
Announcement Type: Change Of Company Secretary
Company Name: TURIYA BERHAD
Stock Name: TURIYA
Date Announced: 27/09/2010
Announcement Detail:
Date of change: 27/09/2010
Type of change: Appointment
Designation: Secretary
License no.: MAICSA 7009208
Name: Cheong Wei Ling
Company Name: TURIYA BERHAD
Stock Name: TURIYA
Date Announced: 27/09/2010
Announcement Detail:
Date of change: 27/09/2010
Type of change: Appointment
Designation: Secretary
License no.: MAICSA 7009208
Name: Cheong Wei Ling
ATIS - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: MAYBANK INVESTMENT BANK BERHAD
Company Name: ATIS CORPORATION BERHAD
Stock Name: ATIS
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: ATIS CORPORATION BERHAD ("ATIS" OR "COMPANY")
(I) ACQUISITION OF 69,915,600 ORDINARY SHARES OF RM1.00 EACH IN MUTIARA GOODYEAR DEVELOPMENT BERHAD ("MUTIARA SHARES") REPRESENTING 30.28% EQUITY INTEREST IN MUTIARA GOODYEAR DEVELOPMENT BERHAD ("MUTIARA") BY ATIS IDR VENTURES SDN BHD (FORMERLY KNOWN AS ELKOM TRANSFORMER COMPONENTS MARKETING SDN BHD) ("AIV"), A WHOLLY-OWNED SUBSIDIARY OF ATIS, FROM THE COMPANY FOR A TOTAL CONSIDERATION OF RM67,818,132 TO BE SATISFIED BY THE ISSUANCE OF 27,500,000 NEW ORDINARY SHARES OF RM1.00 EACH IN AIV ("AIV SHARES") AND THE REMAINING THROUGH THE ISSUANCE OF 40,318,132 FIVE (5)-YEAR 6.00% REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("AIV RCPS") AT AN ISSUE PRICE OF RM1.00 PER AIV RCPS ("ACQUISITION 1");
(II) SUBSCRIPTION OF 22,500,000 AIV SHARES BY IDEAL REGION SDN BHD ("IRSB") FOR A TOTAL CONSIDERATION OF RM22,500,000 TO BE SATISFIED BY CASH OR MUTIARA SHARES OR COMBINATION OF CASH AND MUTIARA SHARES EQUIVALENT TO THE TOTAL VALUE OF RM22,500,000 ("SUBSCRIPTION");
(III) ACQUISITION OF 27,712,100 MUTIARA SHARES REPRESENTING 12.00% EQUITY INTEREST IN MUTIARA BY AIV FROM KEE CHENG TEIK AND REJOICE MATRIX SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM26,880,737 ("ACQUISITION 2");
(IV) GENERAL MANDATE FROM THE SHAREHOLDERS OF ATIS TO ALLOW AIV TO ACQUIRE UP TO 20,000,000 MUTIARA SHARES REPRESENTING 8.66% EQUITY INTEREST IN MUTIARA; AND
(V) THE MANDATORY GENERAL OFFER BY MAYBANK INVESTMENT BANK BERHAD ON BEHALF OF ATIS AND AIV ("JOINT OFFERORS") TO ACQUIRE ALL THE MUTIARA SHARES NOT ALREADY OWNED BY THE JOINT OFFERORS AND THE PARTIES ACTING IN CONCERT ("PAC") PURSUANT TO THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS, 1998 ("OFFER")
(COLLECTIVELY REFERRED TO AS "PROPOSALS")
Contents: Reference is made to the announcements by Maybank Investment Bank Berhad ("Maybank IB") on behalf of the Company on 23 April 2010, 2 July 2010, 15 July 2010, 8 September 2010 and 24 September 2010.
On behalf of the Board of Directors of ATIS, Maybank IB wishes to announce that Hamidon bin Abdullah, Independent Non-Executive Director of ATIS, Executive Chairman of Mutiara, the Director of IRSB and the PAC to the Joint Offerors, acquired an additional 18,200,000 Mutiara Shares, representing 7.88% equity interest in Mutiara, today of which will be used together with his existing 5,000,000 Mutiara Shares to satisfy the subscription of 22,500,000 AIV Shares at RM0.97 per Mutiara Share pursuant to the subscription agreement entered into between ATIS, AIV and IRSB dated 23 April 2010 in relation to the Acquisition 1 and the Subscription.
In this regard, the Joint Offerors and the PAC will own 120,828,500 Mutiara Shares, representing 52.33% equity interest in Mutiara, and the Offer will be deemed as unconditional as to acceptances as at the date of this announcement.
This announcement is dated 27 September 2010.
Submitting Merchant Bank: MAYBANK INVESTMENT BANK BERHAD
Company Name: ATIS CORPORATION BERHAD
Stock Name: ATIS
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: ATIS CORPORATION BERHAD ("ATIS" OR "COMPANY")
(I) ACQUISITION OF 69,915,600 ORDINARY SHARES OF RM1.00 EACH IN MUTIARA GOODYEAR DEVELOPMENT BERHAD ("MUTIARA SHARES") REPRESENTING 30.28% EQUITY INTEREST IN MUTIARA GOODYEAR DEVELOPMENT BERHAD ("MUTIARA") BY ATIS IDR VENTURES SDN BHD (FORMERLY KNOWN AS ELKOM TRANSFORMER COMPONENTS MARKETING SDN BHD) ("AIV"), A WHOLLY-OWNED SUBSIDIARY OF ATIS, FROM THE COMPANY FOR A TOTAL CONSIDERATION OF RM67,818,132 TO BE SATISFIED BY THE ISSUANCE OF 27,500,000 NEW ORDINARY SHARES OF RM1.00 EACH IN AIV ("AIV SHARES") AND THE REMAINING THROUGH THE ISSUANCE OF 40,318,132 FIVE (5)-YEAR 6.00% REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("AIV RCPS") AT AN ISSUE PRICE OF RM1.00 PER AIV RCPS ("ACQUISITION 1");
(II) SUBSCRIPTION OF 22,500,000 AIV SHARES BY IDEAL REGION SDN BHD ("IRSB") FOR A TOTAL CONSIDERATION OF RM22,500,000 TO BE SATISFIED BY CASH OR MUTIARA SHARES OR COMBINATION OF CASH AND MUTIARA SHARES EQUIVALENT TO THE TOTAL VALUE OF RM22,500,000 ("SUBSCRIPTION");
(III) ACQUISITION OF 27,712,100 MUTIARA SHARES REPRESENTING 12.00% EQUITY INTEREST IN MUTIARA BY AIV FROM KEE CHENG TEIK AND REJOICE MATRIX SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM26,880,737 ("ACQUISITION 2");
(IV) GENERAL MANDATE FROM THE SHAREHOLDERS OF ATIS TO ALLOW AIV TO ACQUIRE UP TO 20,000,000 MUTIARA SHARES REPRESENTING 8.66% EQUITY INTEREST IN MUTIARA; AND
(V) THE MANDATORY GENERAL OFFER BY MAYBANK INVESTMENT BANK BERHAD ON BEHALF OF ATIS AND AIV ("JOINT OFFERORS") TO ACQUIRE ALL THE MUTIARA SHARES NOT ALREADY OWNED BY THE JOINT OFFERORS AND THE PARTIES ACTING IN CONCERT ("PAC") PURSUANT TO THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS, 1998 ("OFFER")
(COLLECTIVELY REFERRED TO AS "PROPOSALS")
Contents: Reference is made to the announcements by Maybank Investment Bank Berhad ("Maybank IB") on behalf of the Company on 23 April 2010, 2 July 2010, 15 July 2010, 8 September 2010 and 24 September 2010.
On behalf of the Board of Directors of ATIS, Maybank IB wishes to announce that Hamidon bin Abdullah, Independent Non-Executive Director of ATIS, Executive Chairman of Mutiara, the Director of IRSB and the PAC to the Joint Offerors, acquired an additional 18,200,000 Mutiara Shares, representing 7.88% equity interest in Mutiara, today of which will be used together with his existing 5,000,000 Mutiara Shares to satisfy the subscription of 22,500,000 AIV Shares at RM0.97 per Mutiara Share pursuant to the subscription agreement entered into between ATIS, AIV and IRSB dated 23 April 2010 in relation to the Acquisition 1 and the Subscription.
In this regard, the Joint Offerors and the PAC will own 120,828,500 Mutiara Shares, representing 52.33% equity interest in Mutiara, and the Offer will be deemed as unconditional as to acceptances as at the date of this announcement.
This announcement is dated 27 September 2010.
SUNCITY - General Announcement
Announcement Type: General Announcement
Company Name: SUNWAY CITY BERHAD
Stock Name: SUNCITY
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: SUNWAY CITY BERHAD ("SUNCITY")
- SALE AND PURCHASE AGREEMENT BETWEEN SUNWAY CITY (PENANG) SDN BHD, A SUBSIDIARY OF SUNCITY AND SUNGEI ARA HOLDINGS SENDIRIAN BERHAD
Contents: 1. INTRODUCTION
Pursuant to Chapter 10, Paragraph 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of SunCity is pleased to announce that Sunway City (Penang) Sdn Bhd ("SCPSB"), a wholly-owned subsidiary of SunCity had on 4 August 2010, entered into a Sale and Purchase Agreement ("SPA") with Sungei Ara Holdings Sendirian Berhad ("SAHSB") to acquire a freehold land held under Lot No. 14345 held under Geran No. 81977, Mukim 12, Daerah Barat Daya, Pulau Pinang measuring 32.74 hectares ("the Land") from SAHSB for a total cash purchase consideration of RM38,765,144/- ("Purchase Price") for the purpose of residential development [hereinafter referred to as "the Proposed Acquisition"].
2. INFORMATION ON SCPSB AND SAHSB
2.1 SCPSB
SCPSB is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor. The authorised and paid-up share capital of SCPSB are RM10,000,000 and RM2,099,346.57 respectively. The principal activities of SCPSB are property development, provision of property management services and investment holding.
2.2 SAHSB
SAHSB is a company incorporated in Malaysia and having its registered office at 1st Floor, Standard Chartered Bank Chambers, Lebuh Pantai, 10300 Penang, Malaysia. The authorised and paid-up share capital of SAHSB are RM15,000,000 and RM6,539,900 respectively. The principal activities of SAHSB are housing development, cultivation and sale of fruits.
3. SALIENT TERMS OF THE SPA
Pursuant to the SPA, SCPSB will acquire the Land from SAHSB free from encumbrances and with vacant possession but subject to any express conditions of title and restrictions in interest and existing category of use whether express or implied contained in the issue document of title to the Land.
The mode of payment of the Purchase Price shall be as follows:-
a) RM3,876,514, being 10% of the Purchase Price shall be paid by SCPSB to SAHSB's solicitors as stakeholder immediately upon the execution of the SPA;
b) RM34,888,629.60, being the balance Purchase Price shall be paid by SCPSB to SAHSB's solicitors as stakeholder within 6 months from the date of the SPA provided that all the conditions precedent of the SPA have been complied and fulfilled.
4. BASIS OF CONSIDERATION
The Purchase Price is arrived at on a willing-buyer willing-seller basis.
5. SOURCE OF FUNDS
The Purchase Price will be financed through internally generated funds.
6. LIABILITIES TO BE ASSUMED
There are no liabilities (including contingent liabilities and guarantees) to be assumed by SunCity arising from the Proposed Acquisition.
7. RATIONALE FOR THE PROPOSED ACQUISITION
The Proposed Acquisition will provide SunCity with an estimated gross development value of RM800 million when fully developed. The Land is strategically located within the vibrant South-West of Penang Island and is surrounded by matured township consisting of Rain Tree Garden, Regency Heights, Vistaria Apartment and Sunrise Garden, etc in Sungei Ara and the Group's existing Sunway Merica project.
It is located near Penang International Airport which is undergoing planning for expansion. It is also near to the new Penang Second Link Bridge which is currently under construction and is easily accessible via Jalan Dato Ismail Hashim.
The proposed development for the new land bank consists of semi-detached houses and bungalows which will strengthen SunCity's presence in the Penang property market.
8. PROSPECTS
Residential properties in Penang will continue to do well due to scarcity of land in Penang and strong local demand. Penang ranked second in terms of economic growth after Kuala Lumpur and thus, fits into SunCity's strategy to expand its Malaysian landbank profile in growing states of the country.
Hence, with the improving economic sentiment and the strategic location of the Land, SunCity is confident that the take up will be strong once the project is launched.
9. RISK FACTORS
The property development industry is cyclical in nature. The achievability of future earnings is highly dependent on inter alia, the location and the type of development, ability to obtain relevant approvals, performance of building contractors as well as general market conditions.
SunCity will continuously monitor the market sentiment and time the launch when there is a strong demand for residential properties. However, the risk will be minimized as the Proposed Acquisition is at a strategic location.
10. EFFECTS OF THE PROPOSED ACQUISITION
10.1 On Share Capital and Substantial Shareholders' Shareholding
The Proposed Acquisition will not have any effect on the share capital and substantial shareholders' shareholding of SunCity as the Proposed Acquisition does not involve any allotment or issuance of new shares by SunCity.
10.2 On Earnings Per Share, Net Assets Per Share and Gearing
The Proposed Acquisition is not expected to have any immediate material effect on the earnings per share, net assets per share and gearing of SunCity for the current financial year ending 31 December 2010 but is expected to contribute positively to the future earnings of SunCity Group.
11. APPROVALS REQUIRED
The Proposed Acquisition does not require approval from the shareholders of SunCity but is subject to approval of the relevant authorities.
12. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
Insofar as the Directors are aware, none of the directors or major shareholders of SunCity or persons connected with them has any interest, whether direct or indirect, in the Proposed Acquisition.
13. STATEMENT BY THE BOARD OF DIRECTORS
The Board of Directors of SunCity is of the opinion that the Proposed Acquisition is in the best interests of SunCity Group.
14. ESTIMATED TIMEFRAME FOR COMPLETION OF THE PROPOSED ACQUISITION
Barring any unforeseen circumstances and subject to the approval of the relevant authorities and fulfillment of all conditions precedent, the Proposed Acquisition is expected to be completed within 6 months from the date of the SPA and fulfillment of all conditions precedent.
15. DOCUMENT AVAILABLE FOR INSPECTION
The SPA is available for inspection at the registered office of SunCity at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan during normal business hours (9.00 a.m. to 6.00 p.m.) from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 27 September 2010.
Company Name: SUNWAY CITY BERHAD
Stock Name: SUNCITY
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: SUNWAY CITY BERHAD ("SUNCITY")
- SALE AND PURCHASE AGREEMENT BETWEEN SUNWAY CITY (PENANG) SDN BHD, A SUBSIDIARY OF SUNCITY AND SUNGEI ARA HOLDINGS SENDIRIAN BERHAD
Contents: 1. INTRODUCTION
Pursuant to Chapter 10, Paragraph 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of SunCity is pleased to announce that Sunway City (Penang) Sdn Bhd ("SCPSB"), a wholly-owned subsidiary of SunCity had on 4 August 2010, entered into a Sale and Purchase Agreement ("SPA") with Sungei Ara Holdings Sendirian Berhad ("SAHSB") to acquire a freehold land held under Lot No. 14345 held under Geran No. 81977, Mukim 12, Daerah Barat Daya, Pulau Pinang measuring 32.74 hectares ("the Land") from SAHSB for a total cash purchase consideration of RM38,765,144/- ("Purchase Price") for the purpose of residential development [hereinafter referred to as "the Proposed Acquisition"].
2. INFORMATION ON SCPSB AND SAHSB
2.1 SCPSB
SCPSB is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor. The authorised and paid-up share capital of SCPSB are RM10,000,000 and RM2,099,346.57 respectively. The principal activities of SCPSB are property development, provision of property management services and investment holding.
2.2 SAHSB
SAHSB is a company incorporated in Malaysia and having its registered office at 1st Floor, Standard Chartered Bank Chambers, Lebuh Pantai, 10300 Penang, Malaysia. The authorised and paid-up share capital of SAHSB are RM15,000,000 and RM6,539,900 respectively. The principal activities of SAHSB are housing development, cultivation and sale of fruits.
3. SALIENT TERMS OF THE SPA
Pursuant to the SPA, SCPSB will acquire the Land from SAHSB free from encumbrances and with vacant possession but subject to any express conditions of title and restrictions in interest and existing category of use whether express or implied contained in the issue document of title to the Land.
The mode of payment of the Purchase Price shall be as follows:-
a) RM3,876,514, being 10% of the Purchase Price shall be paid by SCPSB to SAHSB's solicitors as stakeholder immediately upon the execution of the SPA;
b) RM34,888,629.60, being the balance Purchase Price shall be paid by SCPSB to SAHSB's solicitors as stakeholder within 6 months from the date of the SPA provided that all the conditions precedent of the SPA have been complied and fulfilled.
4. BASIS OF CONSIDERATION
The Purchase Price is arrived at on a willing-buyer willing-seller basis.
5. SOURCE OF FUNDS
The Purchase Price will be financed through internally generated funds.
6. LIABILITIES TO BE ASSUMED
There are no liabilities (including contingent liabilities and guarantees) to be assumed by SunCity arising from the Proposed Acquisition.
7. RATIONALE FOR THE PROPOSED ACQUISITION
The Proposed Acquisition will provide SunCity with an estimated gross development value of RM800 million when fully developed. The Land is strategically located within the vibrant South-West of Penang Island and is surrounded by matured township consisting of Rain Tree Garden, Regency Heights, Vistaria Apartment and Sunrise Garden, etc in Sungei Ara and the Group's existing Sunway Merica project.
It is located near Penang International Airport which is undergoing planning for expansion. It is also near to the new Penang Second Link Bridge which is currently under construction and is easily accessible via Jalan Dato Ismail Hashim.
The proposed development for the new land bank consists of semi-detached houses and bungalows which will strengthen SunCity's presence in the Penang property market.
8. PROSPECTS
Residential properties in Penang will continue to do well due to scarcity of land in Penang and strong local demand. Penang ranked second in terms of economic growth after Kuala Lumpur and thus, fits into SunCity's strategy to expand its Malaysian landbank profile in growing states of the country.
Hence, with the improving economic sentiment and the strategic location of the Land, SunCity is confident that the take up will be strong once the project is launched.
9. RISK FACTORS
The property development industry is cyclical in nature. The achievability of future earnings is highly dependent on inter alia, the location and the type of development, ability to obtain relevant approvals, performance of building contractors as well as general market conditions.
SunCity will continuously monitor the market sentiment and time the launch when there is a strong demand for residential properties. However, the risk will be minimized as the Proposed Acquisition is at a strategic location.
10. EFFECTS OF THE PROPOSED ACQUISITION
10.1 On Share Capital and Substantial Shareholders' Shareholding
The Proposed Acquisition will not have any effect on the share capital and substantial shareholders' shareholding of SunCity as the Proposed Acquisition does not involve any allotment or issuance of new shares by SunCity.
10.2 On Earnings Per Share, Net Assets Per Share and Gearing
The Proposed Acquisition is not expected to have any immediate material effect on the earnings per share, net assets per share and gearing of SunCity for the current financial year ending 31 December 2010 but is expected to contribute positively to the future earnings of SunCity Group.
11. APPROVALS REQUIRED
The Proposed Acquisition does not require approval from the shareholders of SunCity but is subject to approval of the relevant authorities.
12. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
Insofar as the Directors are aware, none of the directors or major shareholders of SunCity or persons connected with them has any interest, whether direct or indirect, in the Proposed Acquisition.
13. STATEMENT BY THE BOARD OF DIRECTORS
The Board of Directors of SunCity is of the opinion that the Proposed Acquisition is in the best interests of SunCity Group.
14. ESTIMATED TIMEFRAME FOR COMPLETION OF THE PROPOSED ACQUISITION
Barring any unforeseen circumstances and subject to the approval of the relevant authorities and fulfillment of all conditions precedent, the Proposed Acquisition is expected to be completed within 6 months from the date of the SPA and fulfillment of all conditions precedent.
15. DOCUMENT AVAILABLE FOR INSPECTION
The SPA is available for inspection at the registered office of SunCity at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan during normal business hours (9.00 a.m. to 6.00 p.m.) from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 27 September 2010.
KOBAY - DISPOSAL OF ENTIRE EQUITY INTEREST IN UNETSYS SDN. BHD.
Announcement Type: General Announcement
Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: DISPOSAL OF ENTIRE EQUITY INTEREST IN UNETSYS SDN. BHD.
Contents: The Board of Directors of Kobay Technology Bhd. ("Kobay") wishes to announce that Kobay, had on 24 September 2010, entered into a Shares Sale Agreement with Mr Loh Yok Yeong, to dispose off its entire equity interest of 60% in Unetsys Sdn. Bhd. (736193-M) for a total cash consideration of RM8,700,000.00.
Attachments: KOBAY-DISPOSAL OF UNETSYS.pdf
Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 27/09/2010
Announcement Detail:
Type: Announcement
Subject: DISPOSAL OF ENTIRE EQUITY INTEREST IN UNETSYS SDN. BHD.
Contents: The Board of Directors of Kobay Technology Bhd. ("Kobay") wishes to announce that Kobay, had on 24 September 2010, entered into a Shares Sale Agreement with Mr Loh Yok Yeong, to dispose off its entire equity interest of 60% in Unetsys Sdn. Bhd. (736193-M) for a total cash consideration of RM8,700,000.00.
Attachments: KOBAY-DISPOSAL OF UNETSYS.pdf
DEGEM - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: DEGEM BERHAD
Stock Name: DEGEM
Date Announced: 27/09/2010
Announcement Detail:
Date of buy back: 27/09/2010
Description of shares purchased: Ordinary shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 17,000
Minimum price paid for each share purchased ($$): 1.060
Maximum price paid for each share purchased ($$): 1.060
Total consideration paid ($$): 18,098.47
Number of shares purchased retained in treasury (units): 17,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 1,825,100
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.36
Company Name: DEGEM BERHAD
Stock Name: DEGEM
Date Announced: 27/09/2010
Announcement Detail:
Date of buy back: 27/09/2010
Description of shares purchased: Ordinary shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 17,000
Minimum price paid for each share purchased ($$): 1.060
Maximum price paid for each share purchased ($$): 1.060
Total consideration paid ($$): 18,098.47
Number of shares purchased retained in treasury (units): 17,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 1,825,100
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.36
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