TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITIONS BY HUP SENG PERUSAHAAN MAKANAN (M) SDN BHD (19770-K) OF TWO PARCELS OF LAND IN MUKIM LINAU, DAERAH BATU PAHAT, NEGERI JOHOR TOGETHER WITH BUILDINGS ERECTED THEREON (SAID PROPERTIES) FOR A TOTAL PURCHASE CONSIDERATION OF RM17,490,000.00 (INCLUDING GOODS AND SERVICES TAXES) (PURCHASE CONSIDERATION) (PROPOSED ACQUISITIONS)

HUP SENG INDUSTRIES BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITIONS BY HUP SENG PERUSAHAAN MAKANAN (M) SDN BHD (19770-K) OF TWO PARCELS OF LAND IN MUKIM LINAU, DAERAH BATU PAHAT, NEGERI JOHOR TOGETHER WITH BUILDINGS ERECTED THEREON (SAID PROPERTIES) FOR A TOTAL PURCHASE CONSIDERATION OF RM17,490,000.00 (INCLUDING GOODS AND SERVICES TAXES) (PURCHASE CONSIDERATION) (PROPOSED ACQUISITIONS)

This announcement should be read in conjunction with the earlier announcement made on 9 March 2016 (“Announcement”). Unless otherwise defined, the terms used in this announcement shall have the same meanings as defined in the earlier announcement in relation to the Proposed Acquisitions.

 

Further to the Announcement, the Board of Directors of Hup Seng Industries Berhad wishes to inform that consent for the transfer of the Property 1 by Syarikat Koon Fuat Industries Sdn Bhd (16860-A) (“SKFI”) to Hup Seng Perusahaan Makanan (M) Sdn Bhd (19770-K) (“HSPM”) (“Consent to Transfer”) has been obtained from the Penguasa Negeri Johor. Accordingly, the SPA 1 has become absolute on 21 April 2016, being the following day in which the original Consent to Transfer has been received by HSPM’s Solicitors (“Absolute Date”). In accordance with the terms of the SPA 1, the period for completion of SPA 1 is a period of six (6) months from the Absolute Date.

This announcement is dated 12 May 2016.






Announcement Info

Company Name HUP SENG INDUSTRIES BERHAD
Stock Name HUPSENG
Date Announced 12 May 2016
Category General Announcement for PLC
Reference Number GA1-12052016-00020