MGRC - OTHERS MALAYSIAN GENOMICS RESOURCE BERHAD (“MGRCB” OR “THE COMPANY”) PROPOSED ACQUISITION OF UP TO 30% EQUITY STAKE IN CLINIPATH (MALAYSIA) SDN BHD (“CM”) FOR A CASH CONSIDERATION OF AN AMOUNT EQUIVALENT APPROXIMATELY TO RM5,429,188.22 BY MPATH SDN. BHD., AN ENTITY JOINTLY CONTROLLED BY AJMAKS SDN BHD (“AJMAKS”) AND MGRCB (“PROPOSED ACQUISITION”)
Company Name | MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD (ACE Market) |
Stock Name | MGRC |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | CS-131219-AB782 |
Admission Sponsor | Kenanga Investment Bank Bhd |
Sponsor | Same as above |
Type | Announcement | ||||||||||||||||||
Subject | OTHERS | ||||||||||||||||||
Description | MALAYSIAN GENOMICS RESOURCE BERHAD (“MGRCB” OR “THE COMPANY”) PROPOSED ACQUISITION OF UP TO 30% EQUITY STAKE IN CLINIPATH (MALAYSIA) SDN BHD (“CM”) FOR A CASH CONSIDERATION OF AN AMOUNT EQUIVALENT APPROXIMATELY TO RM5,429,188.22 BY MPATH SDN. BHD., AN ENTITY JOINTLY CONTROLLED BY AJMAKS SDN BHD (“AJMAKS”) AND MGRCB (“PROPOSED ACQUISITION”) | ||||||||||||||||||
INTRODUCTION The Board of Directors of MGRCB (“Board”) wishes to announce that MPath Sdn Bhd (“MPath” or “the Buyer”), an entity jointly controlled by Ajmaks Sdn Bhd (“AJMAKS”) and MGRCB, had on 19 December 2013 agreed to the terms and entered into a sale and purchase agreement (“SPA”) with Azalea Holdings Pty Ltd (“AHPL” or “the Seller”) for the acquisition of 900,000 ordinary shares of RM1.00 each representing 30% of the total issued and paid up share capital of CM (“Sale Shares”) for a consideration of Australian Dollars (“AUD”) that is equivalent to RM5,429,188.22. On 20 July 2012, MGRCB had announced the acquisition by MPath of 65% of CM. Following the Proposed Acquisition, MPath will own 95% of the total issued and paid up share capital of CM. DETAILS OF THE PROPOSED ACQUISITION (a) Information on MPATH
AJMAKS is a subsidiary of Qualitas Healthcare Corporation Sdn Bhd, which is in the business of providing primary healthcare services in Malaysia. The principal activities of MPath is investment holding. (b) Information on the AHPL AHPL (Company no.: 074 968 344) is a corporation organised and existing under the laws of the State of Western Australia; and AHPL is the registered shareholder and beneficial owner of the Sale Shares. The principal activity of AHPL is a holding company.
CM carries on the business of providing pathological and medical laboratory services. The summary of the financial information of CM based on the audited results for the financial period ended (“FPE”) 30 June 2013 is as follows:
* 8 months pursuant to a change in the financial year-end of CM from 31 October to 30 June (d) Basis and justification of the Purchase Consideration
The purchase consideration of the AUD equivalent approximately to RM5,429,188.22 for the Proposed Acquisition was arrived at on a "willing buyer and willing seller" basis after taking into consideration, amongst others, the current financial performance, net book value and future prospects of CM as mutually agreed upon by the parties. The price per share is equal to the price per share paid when MPath acquired the 65% interest in CM in 2012. The basis for valuation of the said acquisition was determined from the perspective of a single merged special purpose vehicle, MPath, that would collectively own the assets and operate them as a going concern and were valued from an earnings perspective to arrive at the valuation. Justification for the final purchase determination is as follows:
SALIENT TERMS OF THE SPA
PROSPECTS OF CM The prospects of CM are the same as when MPath purchased the initial 65% interest in CM, only better given that MGRCB and AJMAKS will own 95% upon completion of the Proposed Acquisition. Traditional pathology and, molecular screening and diagnostics are two services with overlapping characteristics. These include the industry they operate in (i.e. healthcare), service category (i.e. medical laboratory services and analysis of biological samples), distribution channels, target customers, chain of processes and ISO certification (i.e. ISO 15189:2007). As such, the businesses of CM and MGRCB are complementary in nature. The merger between the two companies will enable such strong synergies to distinguish themselves as one exceptionally effective industry player. Given CM’s stronger presence in the healthcare industry, it will be the platform for MGRCB to expedite its GSS through the readily available network of distribution channels and to expedite CM's laboratory management expertise. The highly specialised ability to interpret and analyse genetic and other molecular data accumulated over the years at MGRCB will lend to the advancement of services currently offered by CM. Besides being much faster than culture-based diagnostic approaches, molecular screening and diagnostics provides advantages beyond the abilities of traditional pathology such as detecting fastidious or uncultivable agents, low concentrations of pathogens, and antibiotic and antiviral drug resistance in patients’ biological samples. These are amongst the many important capabilities to leverage CM’s position as the more advanced medical laboratory service provider in the country. More crucial is that these advanced services and know-how are readily available within the country for CM at MGRCB, as opposed to competitors who currently have to work with foreign partners for molecular diagnostics tests which result in longer turnaround time. With the growing role of technology and the public’s awareness of healthcare and wellness, the Directors anticipate the volume of transactions via the enlarged MGRCB group of companies' (“MGRCB Group”) medical laboratory services, via MPath, to increase accordingly. Synergies between the various entities will enable the Group to capture tomorrow’s market, today. FINANCIAL EFFECTS OF THE PROPOSED ACQUISITION (a) Share Capital and substantial shareholders’ shareholdings
(b) Earnings, Net Assets and Gearing
The Proposed Acquisition shall be financed by cash contributions from the shareholders of MPath, namely MGRCB and AJMAKS, in the form of shareholder advances and/or a subscription for shares in MPath on an equal basis and/or commercial loans. As at the date of this announcement, the proportion between the above-mentioned sources of funding to finance the Proposed Acquisition has not been determined. LIABILITIES TO BE ASSUMED In so far as the Board is aware, save for the liabilities which may arise from the shareholders’ advances and/or commercial loans, there are no liabilities, including contingent liabilities and guarantees, to be assumed by Company arising from the Proposed Acquisition. APPROVAL REQUIRED The highest percentage ratio applicable to the Proposed Acquisition pursuant to paragraph 10.02(g) of the ACE Market Listing Requirements of Bursa is 15%. The Proposed Acquisition is not subject to shareholders' approval or any regulatory approval. DIRECTORS’AND MAJOR SHAREHOLDERS’ INTEREST In so far as the Directors of MGRCB are aware, none of the Directors and/or major shareholders and/or persons connected to the Directors or major shareholders of the Company has any interest, direct or indirect, in the Proposed Acquisition. RATIONALE FOR THE PROPOSED ACQUISITION The rationale presented for the original acquisition of 65% interest in CM last year remain as valid for the Proposed Acquisition. In addition to these, MGRCB and AJMAKS are desirous of realizing the gains from their joint efforts in building the business and revenues from CM. Beyond recognizing the share of profits from the jointly controlled entity, MGRCB and AJMAKS would like to improve their cash positions via a distribution of dividends via CM to MPath, and subsequently to MGRCB and AJMAKS in the form of dividends or via a redemption of preference shares. CM is generating net profits and has a significant amount of undistributed retained earnings from which dividends can be paid as revenues improve. For these reason, the additional 30% equity in CM represents a tangible source for future cash flow greater than the opportunity cost of the proposed acquisition. RISK FACTORS General Business Risks Although the MGRCB will seek to mitigate these risks through, inter alia, prudent management policies, active research and development, securing and maintaining good business relationships with its customers and suppliers, and effective human resource management, no assurance can be given that any or all of the above risk factors will not have material adverse effects on its business performance or prospects, as well as its financial position. Competition MGRCB could encounter difficulties arising from the Proposed Acquisition, including unanticipated integration problems and business disruption which may result in unforeseen operating difficulties and expenditures. Moreover, the expected benefits of the Proposed Acquisition may not be realised, to such extent that MGRCB may be required to write-off certain associated acquisition costs such as goodwill and other intangible assets, which could be significant. DIRECTORS’ STATEMENT The Board after having considered all aspects of the Proposed Acquisitions (including but not limited to the rationale and financial effects) is of the opinion that the terms of the Proposed Acquisitions are fair, reasonable and on normal commercial terms and are not detrimental to the interest of the minority shareholders. The Board is also of the opinion that the Proposed Acquisitions is in the best interests of MGRCB. ESTIMATED COMPLETION Barring unforeseen circumstances, the Proposed Acquisition is expected to be completed no later than sixty (60) days from the date of the SPA. DOCUMENTS FOR INSPECTION The SPA shall be available for inspection at the registered office of the Company at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara heights, 50490 Kuala Lumpur, Wilayah Persekutuan during normal office hours on any weekday (except public holiday) for a period of three (3) months from the date of this announcement. The announcement is dated 19 December 2013. |
KANGER - Quarterly rpt on consolidated results for the financial period ended 30/9/2013
Company Name | KANGER INTERNATIONAL BERHAD (ACE Market) |
Stock Name | KANGER |
Date Announced | 19 Dec 2013 |
Category | Financial Results |
Reference No | CC-131219-54403 |
Admission Sponsor | Kenanga Investment Bank Bhd |
Sponsor | Same as above |
Financial Year End | 31/12/2013 |
Quarter | 3 |
Quarterly report for the financial period ended | 30/09/2013 |
The figures | have not been audited |
- Default Currency
- Other Currency
Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION30/09/2013 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 11,609 | 0 | 33,439 | 0 |
2 | Profit/(loss) before tax | 2,281 | 0 | 5,329 | 0 |
3 | Profit/(loss) for the period | 2,110 | 0 | 4,628 | 0 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 2,110 | 0 | 4,628 | 0 |
5 | Basic earnings/(loss) per share (Subunit) | 0.60 | 0.00 | 1.32 | 0.00 |
6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 0.00 | 0.00 | 0.00 |
AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||||
7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 0.1100 | 0.0000 |
Remarks : |
This is the first interim financial report announced in compliance with the ACE Market Listing Requirement of Bursa Malaysia Securities Berhad. There are no comparative figures for the preceding year’s corresponding quarter and year-to-date as no interim financial report was prepared for the comparative financial period concerned. |
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
Country | Base Unit | Subunit |
Malaysia | Ringgit | Sen |
United States | Dollar | Cent |
United Kingdom | Pound | Pence |
CIMBA40 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Company Name | CIMB FTSE ASEAN 40 MALAYSIA |
Stock Name | CIMBA40 |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | OB-131219-67275 |
Type | Announcement |
Subject | NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE |
Description | Fund: CIMB FTSE ASEAN 40 Malaysia Date: 19-Dec-2013 NAV per unit (RM): 1.6644 Units in circulation (units): 1,350,000.00 Management Fee (% p.a.): 0.00 Trustee Fee (% p.a.): 0.08 Index Licence Fee (% p.a.): 0.00 FTSE/ASEAN 40 Index: 10,335.85 |
CIMBC25 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
Company Name | CIMB FTSE CHINA 25 |
Stock Name | CIMBC25 |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | OB-131219-67208 |
Type | Announcement |
Subject | NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE |
Description | Fund: CIMB FTSE China 25 Date: 19-Dec-2013 NAV per unit (RM): 1.0027 Units in circulation (units): 9,750,000.00 Management Fee (% p.a.): 0.60 Trustee Fee (% p.a.): 0.08 Index Licence Fee (% p.a.): 0.04 FTSE/Xinhua China 25 Index: 16,633.06 |
AMBANK - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS
Company Name | AMMB HOLDINGS BERHAD |
Stock Name | AMBANK |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | AH-131219-62247 |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | AMMB Holdings Berhad - Strategic Partnership for Life Insurance and Family Takaful Businesses |
We refer to our announcement dated 26 August 2013 in connection with the commencement of negotiations with several shortlisted global insurance providers for the establishment of a new strategic partnership for AMMB Holdings Berhad’s (“AMMB”) life insurance and family takaful businesses. Further thereto, AMMB is pleased to announce that it has reached an agreement with MetLife International Holdings Inc. (“MetLife”), a wholly-owned subsidiary of MetLife Inc., on 19 December 2013 to seek regulatory approval of a proposed strategic partnership involving AmLife Insurance Berhad (“AmLife”) and AmFamily Takaful Berhad (“AmTakaful”) (the “Proposal”). Upon receipt of regulatory approvals and satisfaction of certain other conditions, the Proposal will result in MetLife owning fifty percent plus one share in AmLife with the remaining shares to be owned by AMMB, and AMMB owning fifty percent plus one share in AmTakaful with the remaining shares to be owned by MetLife. In addition, the Proposal will see AmLife and AmTakaful entering into exclusive twenty-year bancassurance and bancatakaful agreements for the distribution of life insurance and family takaful products through the distribution network of AMMB’s banking subsidiaries, AmBank (M) Berhad and AmIslamic Bank Berhad, across Malaysia. The total consideration for the Proposal payable by MetLife is RM812 million upon completion, subject to customary adjustment. The Proposal is subject to the prior written approval of Bank Negara Malaysia and/or the Minister of Finance. Upon the receipt of the aforesaid regulatory approvals, AMMB and MetLife will execute definitive agreements, after which the Proposal will close upon the satisfaction of certain other conditions. Further announcements in relation to the Proposal will be made at the appropriate time. This announcement is dated 19 December 2013. A copy of the press release of the Company is also attached herewith. |
DRBHCOM - OTHERS DRB-HICOM BERHAD (“DRB-HICOM” OR “COMPANY”) PROPOSED DISPOSAL BY UNI.ASIA CAPITAL SDN BHD (“UAC”), A 51%-OWNED SUBSIDIARY OF GADEK (MALAYSIA) BERHAD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF DRB-HICOM, OF ITS 100% EQUITY INTEREST IN UNI.ASIA LIFE ASSURANCE BERHAD (“UAL”)
Company Name | DRB-HICOM BERHAD |
Stock Name | DRBHCOM |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | MM-131219-60239 |
Type | Announcement |
Subject | OTHERS |
Description | DRB-HICOM BERHAD (“DRB-HICOM” OR “COMPANY”) PROPOSED DISPOSAL BY UNI.ASIA CAPITAL SDN BHD (“UAC”), A 51%-OWNED SUBSIDIARY OF GADEK (MALAYSIA) BERHAD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF DRB-HICOM, OF ITS 100% EQUITY INTEREST IN UNI.ASIA LIFE ASSURANCE BERHAD (“UAL”) |
We refer to the announcement dated 15 August 2013 where it was announced that UAC had submitted an application to Bank Negara Malaysia (“BNM”) for the approval of the Minister of Finance (“MoF”) pursuant to the Financial Services Act, 2013, to review a proposal for UAC to enter into a sale and purchase agreement with a company to be respectively owned by The Prudential Insurance Company of America and Bank Simpanan Nasional on a 70%:30% (“Purchaser”) shareholding basis for the proposed disposal by UAC of its 100% equity interest in UAL to the Purchaser (“Proposed Disposal”). On behalf of the Company, CIMB Investment Bank Berhad wishes to announce that the MoF through BNM had, via its letter dated 18 December 2013 (which was received on 19 December 2013), approved the Proposed Disposal. As the Proposed Disposal is subject to, among others, the execution of the sale and purchase agreement at a later date, further details will be announced in due course. This announcement is dated 19 December 2013. |
AIRPORT - OTHERS MALAYSIA AIRPORTS HOLDINGS BERHAD (“MAHB”) - SHAREHOLDERS AGREEMENT BETWEEN MALAYSIA AIRPORTS CONSULTANCY SERVICES SDN BHD (“MACS”) AND WATAD GROUP ENTERPRISES LLC (“WATAD GROUP”)
Company Name | MALAYSIA AIRPORTS HOLDINGS BERHAD |
Stock Name | AIRPORT |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | MA-131219-1178C |
Type | Announcement |
Subject | OTHERS |
Description | MALAYSIA AIRPORTS HOLDINGS BERHAD (“MAHB”) - SHAREHOLDERS AGREEMENT BETWEEN MALAYSIA AIRPORTS CONSULTANCY SERVICES SDN BHD (“MACS”) AND WATAD GROUP ENTERPRISES LLC (“WATAD GROUP”) |
Further to our announcement dated 21 June 2013, the Board of Directors of MAHB is pleased to announce that MACS, a wholly-owned subsidiary of MAHB has on 18 December 2013 entered into a Shareholders Agreement (“the SHA” or “Agreement”) with Watad Group to form a joint venture company (“Joint Venture Company”), for the purpose of undertaking activities in the areas of facilities maintenance services at airports, including the New Doha International Airport and any other activities subject to the terms and conditions of the SHA (“Joint Venture”). Please refer to the attachment for further details. This announcement is dated 19 December 2013. |
AEONCR - Changes in Sub. S-hldr's Int. (29B) - Mitsubishi UFJ Financial Group, Inc. ("MUFG")
Company Name | AEON CREDIT SERVICE (M) BERHAD |
Stock Name | AEONCR |
Date Announced | 19 Dec 2013 |
Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
Reference No | CC-131219-5764F |
Particulars of substantial Securities Holder
Name | Mitsubishi UFJ Financial Group, Inc. ("MUFG") |
Address | 7-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-8330, Japan |
NRIC/Passport No/Company No. | NIL |
Nationality/Country of incorporation | Japan |
Descriptions (Class & nominal value) | Ordinary Shares of RM0.50 each |
Name & address of registered holder | Aberdeen Asset Management PLC ("Aberdeen") and its subsidiaries 10 Queen's Terrace, Aberdeen, AB10 1YG, Scotland |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Disposed | 13/12/2013 | 1,500 |
Remarks : |
MUFG is deemed interested in the shares by virtue of MUFG's wholly owned subsidiary, Mitsubishi UFJ Trust & Banking Corp, holding more than 15% in Aberdeen. The Form 29B was received by the Company on 19 December 2013. |
AXIATA - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board
Company Name | AXIATA GROUP BERHAD |
Stock Name | AXIATA |
Date Announced | 19 Dec 2013 |
Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
Reference No | AG-131219-ADC82 |
Particulars of substantial Securities Holder
Name | Employees Provident Fund Board |
Address | Tingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur |
NRIC/Passport No/Company No. | EPF ACT 1991 |
Nationality/Country of incorporation | Malaysia |
Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each |
Name & address of registered holder | 1) Employees Provident Fund Board ("EPF Board") Ibu Pejabat KWSP, Bangunan KWSP Jalan Raja Laut, 50350 Kuala Lumpur 2) Citigroup Nominees (Tempatan) Sdn Bhd ("Citigroup") EPF Board 3) Citigroup EPF Board (AMUNDI) 4) Citigroup EPF Board (KIB) 5) Citigroup EPF Board (HDBS) 6) Citigroup EPF Board (RHB INV) 7) Citigroup EPF Board (AM INV) 8) Citigroup EPF Board (MAYBAN) 9) Citigroup EPF Board (KAF FM) 10) Citigroup EPF Board (NOMURA) 11) Citigroup EPF Board (CIMB PRI) 12) Citigroup EPF Board (ARIM) 13) Citigroup EPF Board (TEMPLETON) 14) Citigroup EPF Board (ABERDEEN) Level 42, Menara Citibank 165 Jalan Ampang, 50450 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
Type of transaction | Date of change | No of securities | Price Transacted (RM) |
Acquired | 16/12/2013 | 391,500 |
Remarks : |
1) The total number of 1,096,992,006 ordinary shares comprised of the following:- a) Citigroup EPF Board - 990,837,306 b) EPF Board - 3,332,900 c) Citigroup EPF Board (AMUNDI) - 3,681,250 d) Citigroup EPF Board (KIB) - 660,000 e) Citigroup EPF Board (HDBS) - 11,419,375 f) Citigroup EPF Board (RHB INV) - 3,000,000 g) Citigroup EPF Board (AM INV) - 8,222,650 h) Citigroup EPF Board (MAYBAN) - 1,600,000 i) Citigroup EPF Board (KAF FM) - 1,600,000 j) Citigroup EPF Board (NOMURA) - 43,721,300 k) Citigroup EPF Board (CIMB PRI) - 16,959,025 l) Citigroup EPF Board (ARIM) - 2,850,000 m) Citigroup EPF Board (TEMPLETON) - 3,408,200 n) Citigroup EPF Board (ABERDEEN) - 5,700,000 2) Form 29B received on 19 December 2013 |
SIGN - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS
Company Name | SIGNATURE INTERNATIONAL BERHAD |
Stock Name | SIGN |
Date Announced | 19 Dec 2013 |
Category | General Announcement |
Reference No | MI-131219-65936 |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | SIGNATURE INTERNATIONAL BERHAD ("SIGN" OR THE "COMPANY") PROPOSED ACQUISITION BY SIGNATURE MANUFACTURING SDN BHD ("SMSB" OR "PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF SIGN, OF THREE (3) ADJOINING PARCELS OF VACANT INDUSTRIAL LAND LOCATED AT:- (I.) LOT 25, EASTERN GATEWAY INDUSTRIAL HUB @ BANDAR BUKIT RAJA, HELD UNDER SURATAN HAKMILIK SEMENTARA NO. H.S.(D) 139768, PT NO. 69195, MUKIM KAPAR, DAERAH KLANG, SELANGOR MEASURING APPROXIMATELY 15,962 SQUARE METRES (OR APPROXIMATELY 171,626.4 SQUARE FEET) ("LAND I") FROM ASPEN POINT SDN BHD ("ASPEN POINT") FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM15,961,255; (II.) LOT 26, EASTERN GATEWAY INDUSTRIAL HUB @ BANDAR BUKIT RAJA, HELD UNDER SURATAN HAKMILIK SEMENTARA NO. H.S.(D) 139769, PT NO. 69196, MUKIM KAPAR, DAERAH KLANG, SELANGOR MEASURING APPROXIMATELY 16,212 SQUARE METRES (OR APPROXIMATELY 174,675.6 SQUARE FEET) ("LAND II") FROM SIERRA TOWERS SDN BHD ("SIERRA TOWERS") FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM16,244,830; AND (III.) LOT 27, EASTERN GATEWAY INDUSTRIAL HUB @ BANDAR BUKIT RAJA, HELD UNDER SURATAN HAKMILIK SEMENTARA NO. H.S.(D) 139758, PT NO. 69185, MUKIM KAPAR, DAERAH KLANG, SELANGOR MEASURING APPROXIMATELY 17,057 SQUARE METRES (OR APPROXIMATELY 183,387.6 SQUARE FEET) ("LAND III") FROM EIGHT EDITION SDN BHD ("EIGHT EDITION") FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM17,055,047, (COLLECTIVELY REFERRED TO AS THE "PROPOSED ACQUISITIONS"). |
We refer to the announcement dated 18 December 2013 in relation to the Proposed Acquisitions. On behalf of the Board of Directors of SIGN, RHB Investment Bank Berhad wishes to further announce the following:- 2.2 Information on the Vendors The information on the Vendors are as follows:- 2.2.1 Aspen Point As at the date of this Announcement, the Directors of Aspen Point are Che King Tow and Kan Keong Soon, while its shareholders are Che King Tow and Kan Keong Soon. As at the date of this Announcement, the Directors of Sierra Towers are Che King Tow, Kan Keong Soon and Aw Hong Boo, while its shareholders are Che King Tow, Kan Keong Soon, Aw Hong Boo, Lim Liew King, Chua Seow Yang, Thai Chong Yim and Lee Cheen Mun. As at the date of this Announcement, the Directors of Eight Edition are Che King Tow and Wong Siew Chin, while its shareholders are Che King Tow and Kok Tuck Cheong. 2.7. INTER-CONDITIONALITY OF THE SPAS It was the intention of the SIGN Group for the SPAs to be inter-conditional given that the Properties are located adjacent to each other and that the Vendors have a common shareholder, Che King Tow. This announcement is dated 19 December 2013. |
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